In practice, the economic "long run" can happen exceedingly quickly. Keynes was probably closer to right with "Markets can remain irrational longer than you can remain solvent," but if you plan on the basis of "in the long run we are all dead," you might find out just how short that long run can be.

If we need to look to economics for rationality quotes, we are getting towards the bottom of the barrel, Robin Hanson notwithstanding.

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Rationality Quotes Thread March 2015

by Vaniver 1 min read2nd Mar 2015235 comments

8


Another month, another rationality quotes thread. The rules are:

  • Please post all quotes separately, so that they can be upvoted or downvoted separately. (If they are strongly related, reply to your own comments. If strongly ordered, then go ahead and post them together.)
  • Do not quote yourself.
  • Do not quote from Less Wrong itself, HPMoR, Eliezer Yudkowsky, or Robin Hanson. If you'd like to revive an old quote from one of those sources, please do so here.
  • No more than 5 quotes per person per monthly thread, please.
  • Provide sufficient information (URL, title, date, page number, etc.) to enable a reader to find the place where you read the quote, or its original source if available. Do not quote with only a name.