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Tuesday, July 27, 2010

Economic Reductionism

Nice post from John Médaille. A sample:

'However, the elimination of ethics could only be accomplished by a ruthless reductionism: man was reduced to an “economic calculator” capable of acting only in self-interest, while all markets were reduced to a single model of supply and demand curves with a single, well-defined equilibrium points. The new homo oeconomicus was conceived as a pure individual with no natural ties and was no more than a collection of unfulfilled desires, always waiting for the entrepreneur to fill them up, while creating new wants.'

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