Hey, anyone else think that people who make these rational actor economics arguments are totally full of shit?

This diary at Kos extensively documents the proof that they are. I'm glad someone got around to damning these arguments for me. I simply don't have the time. But every time I do see research on consumer behavior or economic decision making the exact opposite of what the economists claim seems to be true. The consumer tends to make exactly the opposite of the right decision when faced with a choice. Consumers rely on information from misleading advertisements, poorly-written and researched news articles, pretty labels, etc., to dissuade them from doing things like buying generics, purchasing efficient vehicles, or avoiding fraudulent or worthless products.

This, more than anything, is why I think the Milton Friedman/libertarian types are full of shit. Whenever their arguments are studied scientifically, they're proven wrong.

Labels: economics, kos, libertarians