Monday, January 26, 2015
Andrew Johnson, Chapter 1, Question #3
Being that Wheelan points out the importance of market's influence and brings to light the reality of human fallibility to make irrational decisions, the future is a realm which I am very unsure about. Individuals will naturally (by acting out of self interest) behave with others to produce profit and utility for themselves or for their companies. I am not concerned about that. What I am concerned with is the fact that we as humans are irrational in some of our cost/benefit analyses, some of which are very influential to the individual or the society as a whole. If the society continues to naturally behave in self interest but with growing irrational judgement, economic abuse and centralization of power may come as a bye-products of society's poor judgement.
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I am concerned aswell about the future and the trajectory of our world. However, people have adapted, overcome, and survived for countless generations. We will always make mistakes due to our inherent imperfections, however me must learn from our mistakes and work to nor commit them in the future. Our first step in fixing irrational judgement is realizing we as a whole are acting irrationally, which we have learned.
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