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Redleg

(6,750 posts)

9. It seems a big gulf between "ignoring costs" and the notion that "the entire idea is antiquated and unnessary"

Sun Nov 16, 2025, 10:37 AM

Sunday

Plus, you stated that those costs are paid or ignored. Is "cost" abstract to those people who can't afford to buy sufficient food or who get downsized due to adoption of AI or automation in the workplace? Is cost irrelevant to small business owners whose profit margins have shrunk due to tariffs imposed by the president?

Economics is about making choices and it should be about making choices that take into account moral principles such as utility, human rights, and distributive justice. Each of these principles addresses the notions of "costs" and "benefits" in their calculus.

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Are We Humans or Homo Economicus? Why Economics Needs to Evolve Beyond Growth [View all] Celerity Friday OP

Captive chimpanzees do that. I wonder what they do Phoenix61 Friday #1

Seriously, why do we need economics at all? -misanthroptimist Friday #2

Fretting about the costs is pointless? Redleg Friday #5

Cost is an abstract and limited construct -misanthroptimist Friday #7

It seems a big gulf between "ignoring costs" and the notion that "the entire idea is antiquated and unnessary" Redleg Sunday #9

"Cost" is indeed an abstract. -misanthroptimist Monday #10

Many concepts are abstract but need not be ignored Redleg Yesterday #11

Well worth the read leftstreet Friday #3

A good number of the more recent winners addressed the limitations of rationality Redleg Friday #4

Not sure it's valuable in the framework of Capitalism leftstreet Friday #6

I don't understand your point Redleg Sunday #8

Good Read malaise Yesterday #12