I started watching the Nova episode called Mind Over Money. I generally like Nova but this episode was far below their normal standards.
The episode is supposed to be about the idea that traditional economists base their calculations on “rational people”. They claim stuff like people are supposedly perfectly rational when it comes to money and will never pay more for something than it’s actually worth. They then go on to give several massively convoluted examples. They say things like “people take their the interest rate of their retirement plan into account on every purchase” or something like that. They’re basically claiming things no economist has ever claimed.
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