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Bill Williams asks for evidence that individuals perceive utility and he
doubts that it can be provided. It seems to me that acceptance of the
assumption that individuals perceive utility is a prerequisite for entry in
the club of economists. Why would Bill raise any question about it?
I take it (1) that the main interest of economics is the market economy and
(2) that economists since Adam Smith (and before of course) have described
it by referring to the choices of actors. Since the marginal utility
revolution of the late 19th century, they have used the word "utility" to
refer to that which motivates the choice of one alternative over another.
So what is the problem, Bill? Do you have in mind some new kind of
economics?
Pat Gunning
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