Individuals Maximizing Utilities of Their Own Net-worths May Harm Welfare of Humanity in Long-run:


The economic paradigm currently embraced by humans ignores how individual actions undercut welfare and then undermine individual welfare. Individual actions for enhancing own net worth should degrade social welfare. The right (rational) paradigm is to maximize the true individual net worth including the negative effect stemming from, for example, riots due to a deterioration of net worth majority wrought by individual net worth maximizing efforts.

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