Leapdragon 2016 - Aron Hsiao Was Here

Facebook and economics.  §

More and more, I find Facebook to be absolutely intolerable.

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I keep stumbling across articles old and new that are roughly like this:

http://www.theatlantic.com/business/archive/2009/08/why-economics-failed/23361/

They get the need for critique right, but they miss the deeper point about rational choice modeling and any form of inquiry the presumes rationality:

Rationality is culturally determined. Full stop.

Until and unless a field like economics can segment and enumerate workable models of cultural values and valuation, mathematical modeling of cultural phenomena will remain forms of inquiry that have purchase only in highly (and justifiably) ethnocentric contexts, and they will always run a decade or two behind the present, as culture and cultural values are invariably and unavoidably subject to ongoing change and evolution.