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Quotation of the Day…

Posted By Don Boudreaux On May 24, 2012 @ 8:03 am In Economics,Myths and Fallacies,Scientism | Comments Disabled

… is from page 32 of Deirdre McCloskey’s marvelous little 2002 pamphlet The Secret Sins of Economics [1]; note that the concept of rationality that McCloskey here criticizes is that which is postulated by today’s typical neoclassical mainstream economist:

Is it rational to expect people to be rational in a voting booth when they have already shown their irrationality by showing up at the polls in the first place, considering that their (or rather, his or her) single vote is virtually certain not to change the outcome?

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[1] The Secret Sins of Economics: http://www.amazon.com/Secret-Sins-Economics-Deirdre-McCloskey/dp/0971757534/ref=sr_1_1?s=books&ie=UTF8&qid=1309127853&sr=1-1

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