Whereas economic man maximises, selects the best…
“Whereas economic man maximises, selects the best alternative from among all those available to him, his cousin, administrative man, satisfices, looks for a course of action that is satisfactory or 'good enough'.”
About This Quote
This interpretation was drafted with AI assistance. It is one reading of the quote, not the author's own explanation.
Economic man seeks optimal outcomes, while administrative man settles for satisfactory, “good enough” solutions.
In simple terms: One aims for the best, the other for acceptable.
Key Takeaway
Accept good enough when perfect is unattainable.
Themes
decision making
bounded rationality
efficiency
satisficing
Mood
pragmatic
analytical
reflective
Type
philosophical
practical
When to use this quote
- business strategy
- public policy
- personal budgeting
- project planning
Key Concepts
optimality
trade‑offs
heuristics
Questions to Reflect On
- When is a satisfactory solution preferable to an optimal one?
- How do constraints shape our choices?
A Different Perspective
Perfect solutions are often costly or impossible to identify.