Well, you have nodded your head reluctantly that most people
are rational. But hasn’t it occurred to yet that not “most” but “all” people
are rational. And that includes drunkards, drug addicts, and even infants.
Let me start with drunkards and drug addicts. Drunkards and
drug addicts when in the influence of their respective drugs seem to be acting
irrationally. Even more so, it is claimed that these people are so addicted
that they would be unaffected by price changes-both monetary and non-monetary. If
you believe that these people are indeed irrational, just ask yourself were
they before they took these substances?
If you answer yes, then you have accepted that their
decision to take up alcohol or drugs was a rational decision. Anybody who gets
into drinking or drugs is full aware of the consequences of taking them. If he
still continues with it, they he has simply calculated the cost of taking drugs
i.e. monetary, psychological etc. to be much less than the benefit rendered by
intoxication. This explains why people drink more often than they take drugs or
why those who take drugs are more likely to experiment with softer ones than
harder ones. Hard drugs have a very high cost compared to the relative benefit
it confers. So most people stay clear of it. On the other hand, having a beer
occasionally will do little, if any, harm to your body and hence most people do
consume it frequently. In some cases, there is asymmetry or it is claimed.
Drunkards cannot anticipate the future consequences of drinking well enough to
take a rational decision. That is far from the truth. Even if drunkards do not
know the exact scientifically precise result of their consumption, they are
well aware of the general effects of drinking. We buy cars, televisions, mobile
phones and other gadgets without ever having read a page of engineering. Why
are drunkards any different? Just like a public course on automobile
engineering will not alter the demand for cars by much, a public education
project against drinking will hardly stop drunkards from quitting. Most people
knew smoking was bad years before any medical journal published the evidence
that cigarettes were harmful.
Are infants rational? Why do babies cry to attract
attention? Even without the power of language infants are able to satisfy their
needs by calling out for assistance. And
while it may seem basic, infants are also able to smile and cry to convey
message to their parents, hence assuring them of the optimal care. They don’t
cry too often or too infrequently, they use it sparingly yet put their vocal
chords to full use to ensure that they are taken care of. As I said, we don’t
act rationally because we have fully-developed brains or because we have
studied economics, rationality is in our very biology, economics is merely a
first step in applying it universally to all our actions.
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