"I
have often wondered why economists, with these absurdities all around
them, so easily adopt the view that men act rationally. This may be
because they study an economic system in which the discipline of the
market ensures that, in a business setting, decisions are more or less
rational. The employee of a corporation who buys something for $10 and
sells it for $8 is not likely to do so for long. Someone who, in a
family setting, does much the same thing, may make his wife and children
miserable throughout his life. A politician who wastes his country’s
resources on a grand scale may have a successful career."
Ronald Coase, “Comment on Thomas W. Hazlett”
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