Market-Values and Responsible Consumption
Every introductory class of microeconomics begins by stating the following two propositions (rational choice theory): Individuals are self-interested. Individuals make rational choices. (*This is of course an overly simplified characterization of economics, but it will do for our current purpose of contemplating on the essence of market-economy and consumption.) Of course, ‘self-interested’ and ‘rational’ are vague terms open to various different interpretations. However, usually, those propositions are taken to implicate that individuals make choices that will provide them with the greatest benefit (i.e., benefit at margin). Once again, ‘benefit’ here is a vague term. At first, the rational choice theory presents itself as a mere description of individuals. In fact, economists take pride in distinguishing themselves from other normative disciplines. For a while, I thought that the theory is really a normative one just like other ethical theories are. I am not sure anymore. But I do no