D’ye recall when he wrote over at Soapy Joe’s? And assumed that business people with their tax returns – they were going to maximise income and or profit?
My telling him in the comments that this is not so, that people maximise utility, became an example of my neoliberal ad hominem‘s which do so much to justify his banning of disagreeable comments?
David Howdle says:
October 12 2017 at 5:07 am
I certainly agree with you Professor Murphy. Admittedly my experience is limited, but I know small business owners who started businesses because they are passionate about teaching music, painting landscapes, arranging flowers, drinking coffee etc. They hope to make a living doing whatever it is, but that isn’t their primary motivation. If it was they’d quickly get bored!
Richard Murphy says:
October 12 2017 at 1:01 pm
And that, not profit, is the general rule
Economics is wrong again
Economics insists that people maximise utility still. But Snippa has managed to reverse himself to getting to the right answer while still insisting that economics is wrong.
Quite, quite, remarkable. Thus I remark.