Posted on 01/16/2008 1:25:06 AM PST by forkinsocket
The article asserts that people AREN’T “rational” about “economics.”
The fallacy here is a false reification—i.e., the notion that “economic” choices involve ONLY something called “money” and “goods and services” that are sold by businesses.
As has been pointed out by other posters: The man making half as much as others will have a very hard time finding a wife, whereas the man who is poorer absolutely but wealthier relatively will find a wife easily and enjoy high social status. The fallacy in the question lies in the assumptions about what “goods and services” are actually “for sale” in a society.
Amazingly, it is apparent that most people are idiots...and it is being born out watching this primary season.
My thoughts exactly. Assuming I could still work to earn more money, I’d take the second option.
Exactly. Because the price of goods is related to the amount of money chasing those goods, under the first option prices would stabilize to a point where you would enjoy a much greater standard of living than under the second. While your nominal income is greater in the second option, your real income is greater in the first.
Also, assume that monkeys are flying out of my butt.
I would say that people interviewed are implicitly rejecting the assumption that “oh lets hold inflation fixed”. Bwhaha. Yeah right.
Very unrealistic.
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