Special Report: How a vicious circle of self-interest sank a California city | Reuters - Galt's Gulch

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Special Report: How a vicious circle of self-interest sank a California city | Reuters

Posted by XenokRoy 12 years, 1 month ago to Economics

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What do you think about this one?

SOURCE URL: http://www.reuters.com/article/2012/11/13/us-bernardino-bankrupt-idUSBRE8AC0HP20121113

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Posted by itisntluck 12 years, 1 month ago

That wasn't "self-interest". It was suicide. Looks like all those cops and firemen will have to sell their condos in Cabo.

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Posted by Dragon616 12 years, 1 month ago

If I understand the article correctly then it is less self-interest but instead more stereotypical selfishness which doesn't care what it hurts in order to gain short/long term profit.

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  Posted by WWJGD 12 years, 1 month ago
  
  Well, we Objectivists like the phrase "rational self-interest."
  
  Perhaps this article's topic could be deemed "irrational self-interest!"
  
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  Posted by XenokRoy 12 years, 1 month ago
  
  Also my thoughts.
  
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