Economic theory as derived from Adam Smith assumes first that homo economicus acts with perfect optimality on… — Donella H. Meadows
Economic theory as derived from Adam Smith assumes first that homo economicus acts with perfect optimality on complete information, and second that when many of the species homo economicus do that, their actions add up to the best possible outcome for everybody. Neither of these assumptions stands up long against the evidence.
p. 107Source: Wikiquote · CC BY-SA 4.0
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