How Rational Are Your Decisions Really? Rational Choice Theory Explained
Автор: Professor Hellstrom
Загружено: 2025-03-26
Просмотров: 150
Описание:
Why do politicians make decisions that seem short-sighted or self-serving? This video by Professor Hellstrom introduces Rational Choice Theory at the micro level, explaining how incentives, rather than idealism or the public good, drive political decision-making. Using examples like David Cameron's decision to call the 2016 Brexit referendum, the video illustrates how the theory predicts choices that maximize personal benefits for politicians. The video also delves into Milton Friedman's Four Ways to Spend Money, highlighting why inefficiencies occur in government and business spending. While acknowledging the theory's critics, who argue it overlooks altruism and institutional safeguards, the video underscores the theory's profound impact on political science and popular culture, as evidenced by the classic sitcoms 'Yes Minister' and 'Yes Prime Minister.'
00:00 Introduction to Rational Choice Theory
00:55 Core Principles of Rational Choice Theory
02:01 Real-World Application: Brexit Referendum
02:44 Milton Friedman's Four Ways to Spend Money
04:36 Criticisms and Popularity of Rational Choice Theory
05:44 Conclusion and Recommendations
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