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Updated: May 17, 2025
Economic "theories" and narratives offer an organizing principle, a sense of order, predictability, and justice. They render our chaotic world meaningful and make us feel part of a larger whole. Economics strives to answer the "why's" and "how's" of our daily life. In certain ways, it is akin to religion. The economist answers: If you were to do this or that the situation is bound to improve".
This is wrong. Some people prefer leisure, or freedom, or predictability to expected money. In other words, people have many utility functions running simultaneously or, at best, one utility function with many variables and coefficients.
The first, that for Sobke, is surprisingly regular; the second, that for Skirrl, is quite as surprisingly irregular. These results correlate perfectly with the steadiness and predictability of the former's responses and the irregularity and erraticness of the latter's. Problem 2. Second from the Right End
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