Choose Wisely: Rationality, Ethics, and the Art of Decision-Making

Schwartz (The Paradox of Choice) and Schuldenfrei, psychology professor emeritus and philosophy professor emeritus, respectively, at Swarthmore, mount a comprehensive case against rational choice theory, which posits that people make decisions by weighing the costs, benefits, and probabilities of different options and choosing the one that best aligns with their self-interest. Such an approach, they contend, disregards the profound influence that one’s social milieu has on decision-making, ignores the moral aspects of choices, and reduces people to decision-making machines. Furthermore, the implication that individuals aim solely to maximize personal gain encourages selfish behavior and ignores that actions “need to be understood as parts of whole lives.” A better approach to almost all decisions, the authors assert, involves setting choices in situational context, reflecting on desired outcomes, and relying on thoughtful judgment instead of formulaic calculation. The authors’ argument against RCT—that it’s “neither necessary nor sufficient for rationality” and is not conducive to a meaningful life—is persuasive, even if their claim that the strategy is gaining increased traction in business, government, and personal life lacks sufficient documentation and can feel alarmist. Still, it makes for a well-argued and often enlightening exploration of how decisions are and should be made. (Sept.)