Why does Economics assume rationality?
To a certain extent, I regret that I was major in Economics in university. Economics assumes that people are rational i.e. individuals always make prudent and logical decisions which provide them with the highest amount of personal utility. For many years, I took this assumption almost like the truth unconsciously. Well…. even if not the truth… I saw it as the RIGHT to be. One should be rational! One should park the feeling aside! Such judgement has been rei
