Today’s Quote of the Day…

A Force for Good

…is from Lecture 6 “Rational Behavior” (page 25-26) of Gary Becker’s excellent book Economic Theory (original emphasis):

One basic query is: What is meant by rational behavior?  Consider first what is not meant.  Certainly not that people are necessarily selfish, “economic men” solely concerned with their own well-being.  This would rule out charity and love for children, spouses, relatives, or anyone else, and a model of rational behavior could not be so grossly inconsistant with actual behavior and still be useful.  A viable definition of rationality must not exclude charity and love; indeed, consistent family behavior probably requires love between family members.

Also, rationality should not imply that each household’s decisions are necessarily independent of those made by others.  Different households are linked utltimately by a common cultural inheritance and background, and they may also be linked in a more proximate way.  If household j increases its consumption of 

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About Jim Rose

Utopia - you are standing in it promotes a classical liberal view of the world and champion the mass flourishing of humanity through capitalism and the rule of law. The origin of the blog is explained in the first blog post at

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