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Technologos comments on Macroeconomics, The Lucas Critique, Microfoundations, and Modeling in General - Less Wrong
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Even more so, Gary Becker proved in 1962 that you don't need rationality for many of the basic principles of microeconomics to hold. All you need is for each person to have a maximum budget--a noncontroversial assumption if there ever was one.
Many different kinds of non-utility-maximizing behavior and maximizing behavior across nonstandard preferences (sticky actions, bounded rationality, etc) still produce the key results.