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this post was submitted on 17 Oct 2023
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Well, when one of the founding assumptions is that humans make rational economic decisions, you are in for a bad time.
What if you assume they have infinite time horizons or instantaneous and free transaction costs over infinite distances?
Assume that this cow is a sphere
I called this out when I was 19 and first took econ 101.
I was like, the foundational premise of this entire field is demonstrably wrong, wtf
Yep. It is like starting geometry by saying. "Lets assume π = 3."