Grim Tidings
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Grim Tidings

Do Economists Presume Everyone’s Selfish?

Self-interest, economic rationality, and the questionable merit of capitalism

Image by cottonbro, from Pexels

Early modern economists resorted to rational choice theory in their analyses of capitalism, to make their models tractable and as scientific as possible.

They assumed, for example, that economic transactions are based on calculations that…

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