An individual can set their own objectives and choose the means to achieve them—both the objective you choose and the means by which you choose to achieve it matter. The phrase ‘see yourself with the good you desire’ references that what one desires must be good. Therefore, the first step to becoming a rational economic actor is to desire a good objective. The reason we attribute morality to achieving objectives is that history has taught us that the good prevails and is desirable.
Romans 12:2 (ESV)
“Do not be conformed to this world, but be transformed by the renewal of your mind, that by testing you may discern what the will of God is, what is good and acceptable and perfect.”
If we begin with the assumption that we must select a good objective, we can proceed to making decisions that will help us realize our goals.
A rational economic actor is an individual who makes logical economic choices. This means the individual is prudent in allocating resources, performing actions, and following strategies. Behavior is generally difficult to control, but we can take comfort in knowing that most of it is habitual. Habitual behavior is the things we often do without thinking. For example, brushing your teeth or driving a car are things that have become habitual and can be performed without much conscious thought. They are seamless behaviors. Therefore, once we have set out our objectives, we can list the habits that, if practiced every day, would help us achieve them. For example, let’s say your goal is to save $10,000. You can select certain habitual behaviors such as making your own coffee, avoiding takeout on weekends, making 2 extra sales calls per day (to increase income), and creating an income–expenses tracker in your phone’s notepad. These habitual behaviors, once followed, will inevitably cause you to start saving money. Once the engine is running, you will incrementally begin to reach your objective of saving $10,000. Iterate the system enough times and viola!
