It is
inaccurate to describe human beings as merely profit maximizing economizers! First
of all, decisions made by humans are not simply monetary. There is a psychic
cost, the lost ‘utility’ of the next best alternative that one has to forgo, to
every action taken. And there is a psychic revenue that results from the
increase in happiness that comes from the action chosen.
In this sense
profit is purely subjective and cannot be measured. Even if we were speaking
about both monetary and non-monetary profit, profit maximization is a fleeting
thing since the real world is always in a state of disequilibrium, never really
reaching equilibrium.
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