Thread: Revealed Preferences (people are liars)
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Old 10-31-2007, 04:18 PM
Borodog Borodog is offline
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Join Date: Jan 2004
Location: Performing miracles.
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Default Re: Revealed Preferences (people are liars)
Lol. Pretense of knowledge FTW.

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The bottom line: Politicians and bureaucrats can SAY what they want to happen and actually want that to happen, but fall into numerous fallacies (i.e. "I know what's best for everyone, regardless of their individual means and ends and the laws of economics be damned!" ), irrational tradeoffs, or poor understanding of the available information or its consequences. This has the potential to cause complete social failure from intervention. Do you disagree?

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