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Rationales for Rationality

  • Paul Krugman
Part of the Recent Economic Thought Series book series (RETH, volume 62)

Abstract

Even economists find Economic Man—the perfectly rational decision maker of our theories—a humorous character. We all know that in real life people make irrational decisions for all sorts of reasons—because they cannot figure out what they want, because they cannot be bothered to look for the right answer, or because they want to be the same as (or different from) other people. The economist who truly believes in individual rationality is as much a fiction as homo economicus himself.

Keywords

Monetary Policy Inclusive Fitness Trade Deficit Current Account Deficit Trade Surplus 
These keywords were added by machine and not by the authors. This process is experimental and the keywords may be updated as the learning algorithm improves.

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Copyright information

© Springer Science+Business Media New York 1998

Authors and Affiliations

  • Paul Krugman

There are no affiliations available

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