Here's another question for you all to ponder with me:
How does the Austrian school identify and adress in terms of its praxeological consequences the phenomena of addiction, and other impulse-driven behavior? I believe that most people are able to control their impulses, but even momentary laspses can lead to a third beer, a second child, etc.
I guess you could say that the experience or expectation of a pleasure can in some cases warp a person's time-preference, cloud their judgment, or otherwise make them do dumb stuff they wouldn't do in a "right" state of mind.
I'm not saying people are any less responsible for their actions, but I think it's a given that people are generally going to experience a corresponding rise in their time preference with a rise in their... well, you know.
Any thoughts or comments of interest?
I'll describe later WHY I'm thinking about this, so tune in, same Bat Time, same Bat Channel!
Wednesday, June 14, 2006
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1 comment:
Actually, I don't remember addiction ever coming up in a staunch Austrian setting. As for behavior that might lead to less-than-desirable consequences, the mighty hand to the insurance company keeps everyone in check. Definitely something there for a future post.
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