timelets: (Default)
[personal profile] timelets
Rationality works best, that is, we generally get the kind of results that we want, in a world where the choices are very limited. Now, the reason for that is very simple. When you structure the environment by rules, laws, and tools and techniques, the players are constrained in certain directions. It is the constraints on the actors that help the decision-maker. The more unconstrained the environment, through lack of an effective artifactual structure, the more difficult it is for people to make choices or to implement their choices in effective ways.

--- Douglas C. North. DEALING WITH A NON-ERGODIC WORLD: INSTITUTIONAL ECONOMICS, PROPERTY RIGHTS, AND THE GLOBAL ENVIRONMENT.
If you don't have an account you can create one now.
HTML doesn't work in the subject.
More info about formatting

Profile

timelets: (Default)
timelets

July 2025

S M T W T F S
  1234 5
6789101112
13141516171819
20212223242526
2728293031  

Most Popular Tags

Style Credit

Expand Cut Tags

No cut tags
Page generated Jul. 8th, 2025 11:01 pm
Powered by Dreamwidth Studios