>Economics, properly defined, is the study of human behaviour in the
>marketplace. IT is a BEHAVIOURAL SCIENCE. Unfortunately, people are too
>often greedy and the economic models can predict behaviour by reducing
>humans to a collection of pecuniary interests.
>
>So, the problem is not to change economics. The problem is to change
>people's attitude. When that happens, the economist's models will fail.
>
>You can denounce economics all you want, but it is really human behaviour
>that is the problem. That is what we need to address.
>
>Pat
Hi Pat.
I have a different interpretation: it is true that people are
occasionally / often greedy in varying degrees. However economists
idealized this greed and made it the centerpoint of the ideal economic
agent. Then society created a legal person in the perfect image of
this idealized economic agent. This legal person is the
corporation/business firm, the epitome of pure greed. Corporations
(which I'd count as if they were a separate species) have domesticated
many humans and forced them to act and think like corporations too.
This is what we need to address.
Roberto Verzola
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