Monday, January 26, 2015

Relativity of Definitions: Wealth, Rationality and Economic Theory


back to the basics in economic theory and policy 


Lets be transparent about our philosophy and associated assumptions before dreaming up theories and testing them through questionable "western-thought-based scientific" methods and then doing the abhorrently unthinkable--using the statistical findings to formulate experimental policies that then tank entire economies (mostly in third world countries) and usually render those cultures more polluted and worse off than if they had developed their own economic polices based on their own beliefs philosophies and assumptions about how they interact with their own environment and resources. 

Lets start with how a culture/ethnic group defines "wealth" for itself and we will quickly realize that "rationality" is a term relative to one's set of beliefs about how individuals and groups in these societies operate in their environments. 

https://www.ted.com/.../wade_davis_on_the_worldwide_web...

Anthropologist Wade Davis muses on the worldwide web of belief and ritual that makes us human. He shares...
TED.COM|BY WADE DAVIS

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