{"id":745,"date":"2006-03-04T23:59:00","date_gmt":"2006-03-04T23:59:00","guid":{"rendered":"http:\/\/maddruid.com\/wp\/?p=745"},"modified":"2006-10-09T18:22:54","modified_gmt":"2006-10-09T10:22:54","slug":"743-of-economics-preference-and-rationality","status":"publish","type":"post","link":"https:\/\/maddruid.com\/?p=745","title":{"rendered":"[743] Of economics, preference and rationality"},"content":{"rendered":"<p>I was about to blog something about microeconomics <a rel=\"tag\" href=\"http:\/\/technorati.com\/tag\/economics\">(tag)<\/a> but ended up emailing my undergrad economics professor instead. Meanwhile, I dug up a pile of shit and found this written in one of my economics coursepacks:<\/p>\n<div style=\"text-align: center\"><img data-recalc-dims=\"1\" decoding=\"async\" border=\"1\" alt=\"Mohd Hafiz Noor Shams. Some rights reserved\" src=\"https:\/\/i0.wp.com\/www.maddruid.com\/Graphics\/econRationalPref.jpg?w=580\" \/><\/div>\n<p>It was taken from the coursepack itself. The full version is this &#8211; &#8220;<em>Remember, economics defines rationality in terms of whether an individual acts sensibly <u>given<\/u> his or her preferences, not whether the preferences themselves are sensible.<\/em>&#8221;<\/p>\n<p>How true. That&#8217;s positive economics.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>I was about to blog something about microeconomics (tag) but ended up emailing my undergrad economics professor instead. Meanwhile, I dug up a pile of shit and found this written in one of my economics coursepacks: It was taken from the coursepack itself. The full version is this &#8211; &#8220;Remember, economics defines rationality in terms [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[10,17],"tags":[],"class_list":["post-745","post","type-post","status-publish","format-standard","hentry","category-economics","category-photography"],"_links":{"self":[{"href":"https:\/\/maddruid.com\/index.php?rest_route=\/wp\/v2\/posts\/745","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/maddruid.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/maddruid.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/maddruid.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/maddruid.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=745"}],"version-history":[{"count":0,"href":"https:\/\/maddruid.com\/index.php?rest_route=\/wp\/v2\/posts\/745\/revisions"}],"wp:attachment":[{"href":"https:\/\/maddruid.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=745"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/maddruid.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=745"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/maddruid.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=745"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}