up:: [[Why Adam Smith's Argument of Self Interest usually being good doesn't work without laws and regulations]] Tags:: #🌿 Links:: [[Competitive self interest isn't always in the groups interest]] # Theory of Positional Goods Bob Frank's Theory of Positional Goods are there are some situations where context matters a lot and others where context matters a ton. In other words, some where your position in relation to others matters a ton and some where they don't. For example, when evaluating how good ones house is we use the position it's in from comparison to the houses in the local. However, with something like safety the absolute value of your job safety is what matters. This causes positional goods to become nuclear arms races among people. For example, bombs in between countries without regulation become arms races between countries sapping away resources for nonpositional goods like toasters.