PJW: Yes something very sweet and lovely between human beings can be explained using economic analysis! Economics and correct understanding it is decidedly not something without human values, just because it is expressed in very objective terms. :-) H/T Statism Is Slavery: When your actions create profit for more people than just yourself (even if its unintended or implicit), the world gets more awesome, eh? Explanation: The grandaughter psychologically profits on the margin more (compared to whatever else she could be doing) from inciting joy in Nana because its an expression of her will. She demonstrates a high time preference for her Nanas enjoyment. Nana psychologically profits more from listening to grandadughter sing her a song compared to whatever else she could be doing (with little opportunity cost). She demonstrates a high time preference for listening to the song her grandaughter sings to her. Cost-benefit analyses can be applied to much more of the world than simply P&L accounting. Capitalism ie the private control of things like ones body, material goods, and resources -- along with being able to making decisions on agreements are the economics of life. One way to find happiness in the world is to seek profit for yourself --and others-- while using losses as learning experiences, thusly still profitting. H/t Austrian Economics #SubjectiveValues #Agorist
Posted on: Fri, 19 Dec 2014 20:41:43 +0000
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