"That's the example I was looking for!  That's an example of circular preference.  If I'd pay a copper to trade red for blue, every time, and not pay to trade it back, and not say with my mouth that I wanted anything different, that's a locally coherent preference and we can't say there's anything strange about it by itself.  But if I'd likewise pay a copper to trade blue for green, and to trade green for red, you could just stand around trading me the same objects and extracting all my money from me.  None of my preferences is unLawful by itself, it's only when brought together that they can't all stand simultaneously."

"That's the example I was looking for!  That's an example of circular preference.  If I'd pay a copper to trade red for blue, every time, and not pay to trade it back, and not say with my mouth that I wanted anything different, that's a locally coherent preference and we can't say there's anything strange about it by itself.  But if I'd likewise pay a copper to trade blue for green, and to trade green for red, you could just stand around trading me the same objects and extracting all my money from me.  None of my preferences is probably-contradicting-a-Law-we'll-find-later by itself, it's only when brought together that they can't all stand simultaneously."

"That's the example I was looking for!  That's an example of circular preference.  If I'd pay a copper to trade red for blue, every time, and not pay to trade it back, and not say with my mouth that I wanted anything different, that's a locally coherent preference and we can't say there's anything strange about it by itself.  But if I'd likewise pay a copper to trade blue for green, and to trade green for red, you could just stand around trading me the same objects and extracting all my money from me.  No one of my preferences is probably-contradicting-a-Law-we'll-find-later by itself, it's only when brought together that they can't all stand simultaneously."

"That's the example I was looking for!  That's an example of circular preference.  If I'd pay a copper to trade red for blue, every time, and not pay to trade it back, and not say with my mouth that I wanted anything different, that's a locally coherent preference and we can't say there's anything strange about it by itself.  But if I'd likewise pay a copper to trade blue for green, and to trade green for red, you could just stand around trading me the same objects and extracting all my money from me.  Or even if I wasn't willing to pay a whole copper, you could stand around trading me the same objects and burning up all my time, which is as much a resource to me as money.  No one of my preferences is probably-contradicting-a-Law-we'll-find-later by itself, it's only when brought together that they can't all stand simultaneously."