I am sure it is the first time many of us are putting a thought to rationality. Till now, I just accepted term 'rational decision' or the rationalist assumption of economics as just a suffix after definitions. Rational decision requires a continuous investment of resources and effort and also that all of us irrational by nature, as the first reading in CAC suggests.
I was a little confused about the difference between rationality and common sense. What actually is the difference between rationality and common sense? Are we just irrational by nature or we don't have common sense either?? Does common sense also need a conscious effort? Rationality is not rare, only costly...but haven't several people said common sense is rare these days??
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Righty put, common sense just ain't common anymore. And Why is this so?
The answer to this 'Why' probably also answers one of the questions posed in your blog - 'Does common sense also need a conscious effort?'. I would think that common sense involves paying attention to the obvious which people nowadays just don't have the time nor patience for. We tend to get lost in our own worlds. So probably that does mean that common sense requires a conscious effort from our side.
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