A Quote by John Kenneth Galbraith

In the world of minor lunacy the behaviour of both the utterly rational and the totally insane seems equally odd. — © John Kenneth Galbraith
In the world of minor lunacy the behaviour of both the utterly rational and the totally insane seems equally odd.
I think the idea that the hedge fund manager gets lower taxes than the taxi driver or the physics professor is insane. The legislators who leave that policy in place are derelict in their duties to be rational and fair. There are plenty of them in both political parties. It's totally outrageous.
Fat realized that one of two possibilities existed and only two; either Dr. Stone was totally insane – not just insane but totally so – or else in an artful, professional fashion he had gotten Fat to talk; he had drawn Fat out and now knew that Fat was totally insane.
A nudge is some feature of the environment that changes the behaviour of humans but would not change the behaviour of rational economic agents, what we call Econs.
Michael Kruse made the point that, on the one hand, this seems all totally unprecedented in American politics; on the other hand, it seems somehow utterly predictable in the context of the personality of Donald Trump.
The notion is that human beings are born, (as my Guru has explained many times,) with equivalent potential for both contraction and expansion. The ingredients of both darkness and light are equally present in all of us, and then it's up to the individual (or the family, or the society) to decide what will be brought forth - the virtues or the malevolence. The madness of this planet is largely a result of human being's difficulty in coming into virtuous balance with himself. Lunacy (both collective and individual) results.
The fact that the world is utterly insane makes it tolerable.
If you accept the institutional lunacy, then the policies are rational.
There's no evidence whatsoever that men are more rational than women. Both sexes seem to be equally irrational.
Insanity - a perfectly rational adjustment to an insane world.
Personally, I don't see old economics and behavioural economics as opposed. It is useful to assume people are rational as a good approximation to their long term behaviour, but it would be unwise not to think how in practice their behaviour may deviate from that simplifying assumption.
Suppose that we believe what we are taught. . . . destroying the environment and militarizing outer space are rational policies . . . of institutional lunacy.
Despite all the lunacy of the last century, all the absurdity of war and genocide, we believe that humans being are rational and are made to seek the truth.
So here I was in the middle of the AI world-not just hanging out there but totally dependent on the people if I expected to have a job once I graduated-and yet, day by day, AI started to seem insane. This is also what I do: I get myself trapped inside of things that seem insane.
I wouldn't say Malkovich is totally insane, but he's not living in the real world. He's living in his world, which is a fine world to live in apparently.
Some split between the inner world and outer world is common to all behaviour, and the need to bridge the gap is the source of creative behaviour.
In 1917 European history, in the old sense, came to an end. World history began. It was the year of Lenin and Woodrow Wilson, both of whom repudiated the traditional standards of political behaviour. Both preached Utopia, Heaven on Earth. It was the moment of birth for our contemporary world.
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