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4. The idea that economic actors act in rational self-interest is central to the work of authors like John Locke, Adam Smith, and David Ricardo.
4. The idea that economic actors act in rational self-interest is central to the work of authors like John Locke, Adam Smith, and David Ricardo. However, Thorstein Veblen, Joseph Schumpeter, and John Maynard Keynes each challenge this notion in distinct ways. Define what rational self-interest means for Locke, Smith, and Ricardo. How does rational self-interest serve the common/public good for these authors? How do Veblen, Keynes, and Schumpeter each critique the concept of rational self-interest as defined by the classical liberals and how do they describe the relationship between self-interest and the common/public good
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