Irrationality Inevitably Increases

Interesting post from Ben Goertzel back in November recognizing that rationality is a weird thing in times of interconnected complexity, and that being rational (in any simple reductive objective sense anyway) is effectively impossible.

“Autistic Economics” it’s called when otherwise rational people think economics is about numbers and logical calculations – the wider and more complex the field of play the closer it comes to pure psychology and wise judgement.

Interestingly, one of Ben’s key points is that even if genuinely “expert explainers” could cut through the undoubted real complexity of a global economy and present simplified models against which (traditionally) rational agents could act, in fact in these times of mass communications there is no reason why their views should prevail through the noise of all the other memes of received wisdom out there clamouring for attention.

… increasing [ICT] technology seems to be increasing “market incomprehensibility” and hence, in at least some important cases, making markets LESS efficient …

We’re on the same page. And remember all of evolution is about “markets”, so as Ben says, interesting times ahead.

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