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We aren't even rational like, we are after the fact rationalizers. Behavior is largely sentiment driven or random and then we invent a story after the fact to
by satrerer 12d ago
We aren't even rational like, we are after the fact rationalizers.
Behavior is largely sentiment driven or random and then we invent a story after the fact to frame the behavior as "rational".
"Rationality" is when these two processes happen to line up and that happens very rarely.
We do have the right language in "economic actor" because economics itself is a type of performance. Economics is closer to theater than to chemistry. The non-performative version of economics is a hedge fund.