Nobody — not William Julius Wilson, not Larry Mishel, not yours truly — denies that the bad effects of reduced opportunity would be much less if people always did what was in their best long-term interests. But people often don’t, which is why loss of economic opportunity can be socially as well as economically destructive. That’s not crude materialism, it’s saying that people are human.
Emphasis added.
I just want to point out PK's implicit denial that people are 1) utility enhancing agents, 2) forward thinking, and 3) perfectly rational.
Of course, people who do believe these things also claim Krugman is an idiot. Go figure.
That is all.
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2 comments:
Good post! I like the way you bring the action to a peak and then suddenly slam the door. Nice.
But I think I missed the meeting where we all agreed on exactly what constitutes our "best long-term interests"...
David Andolfatto linked to my stuff!
Ah, thanks.
But I think I missed the meeting
My life experience is that these assessments can really only be given ex ante. Even when you think you know what your doing, plan carefully, and work smart, the wheels can come off.
When your flying by the seat of your pants, it doesn't get a lot better.
I'll comment on Adolfatto back at your place.
JzB
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