Episode 49: Debatable Open R4 - Economics with Luigi Alcañeses

4:20 - Motion 1: THBT developing countries should pursue greater economic integration with one another in regional blocs and trading agreements as opposed to actively participating in international trading agreements and economic institutions led by, and with, global superpowers (e.g. United States and China). 14:55 - Motion 2: THBT megacities (cities that have more than 10 million inhabitants) should be run by multinational corporations. 30:20 - Motion 3: The assumption of economic rationality is the assumption that economic decision-makers have a purely materialistic, individualistic, and self-interested orientation towards economic decision-making. This assumes that individuals behave in rational ways and consider options and decisions within logical structures of thought, as opposed to involving emotional, moral, or psychological elements. Furthermore, it is based on the assumption that individuals seek to maximize utility and minimize costs for themselves. THBT the assumption of economic rationality in early and modern economic models and theories has done more harm than good to the creation, development, and design of domestic and foreign economic policy

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