• Card 3 / 25: Does "purposeful action" include mistakes?

    Answer:
    Yes, it does. Purposeful action is intentional action; it is behavior that serves a purpose to the thing doing the behaving. People try to achieve certain outcomes and fail, all the time. Yet they are still acting with purpose. In this course we do not assume that people are flawless calculators, as some textbook writers do.

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Economy Foundations

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Attribution:  Dr. Robert P. Murphy, Lessons for the Young Economist. (Mises Institute), http://mises.org/document/6215/Lessons-for-the-Young-Economist (Accessed 04 April, 2014). License: Creative Commons BY
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