Rational choice theory claims that people in the political realm act in their own self-interest. However, in today's political climate, many people act against their own interests to avoid being attacked by others.
University of Chicago professor Martha C. Nussbaum wants to save the world by preventing animals from eating each other in the wild. David Gordon (after pulling himself off the floor) comments on her proposal.
Much is made of surveys determining consumer confidence in the economy. Expectations, however, must line up both with proper economic theories and the information at hand.
The efficient market hypothesis, which is popular in neoclassical economics circles, holds that markets are so "efficient" that entrepreneurial profits are generated randomly.
University of Chicago professor Martha C. Nussbaum wants to save the world by preventing animals from eating each other in the wild. David Gordon (after pulling himself off the floor) comments on her proposal.
The efficient market hypothesis, which is popular in neoclassical economics circles, holds that markets are so "efficient" that entrepreneurial profits are generated randomly.
