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RATIONAL ECONOMIC MAN

Economists still analyse the behaviour of rational economic man. He is constantly maximising. At work, he steers a balance between the pain of additional effort and the joy of additional reward. In the supermarket, he rushes from aisle to aisle comparing price and marginal utility. In the extreme variant put forward by some University of Chicago economists, this behaviour is universal. We refrain from stealing only when the expected penalty exceeds the value of the loot. We marry to gain economies of scale from living together. We commit suicide when the net value of future utility is no longer positive.