Bob Logan received his Ph.D. in Economics at the University of Iowa in 1986. He operates a small consulting company in Fairbanks, Alaska. He is not sure what he believes in--it depends on what you're offering.
Rational people can "believe" in seemingly irrational propositions because they have made an economic decision--not one based upon the rationality of the proposition itself--and no amount of logical argument on your part will change the economics.
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