Economists assume that people make choices based on their preferences and their budget constraints. The preferences and values of others play no role in the standard economic model. This feature has been sharply criticized by other social scientists, who believe that the choices people make are also conditioned by social and cultural forces. Economists, meanwhile, are not satisfied with standard sociological and anthropological concepts and explanations because they are not embedded in a testable, analytic framework.
In this book, Gary Becker and Kevin Murphy provide such a framework...
Economists assume that people make choices based on their preferences and their budget constraints. The preferences and values of others play no ro...
On December 5, 2004, the still-developing blogosphere took one of its biggest steps toward mainstream credibility, as Nobel Prize-winning economist Gary S. Becker and renowned jurist and legal scholar Richard A. Posner announced the formation of the Becker-Posner Blog.
In no time, the blog had established a wide readership and reputation as a reliable source of lively, thought-provoking commentary on current events, its pithy and profound weekly essays highlighting the value of economic reasoning when applied to unexpected topics. Uncommon Sense gathers the most important and innovative...
On December 5, 2004, the still-developing blogosphere took one of its biggest steps toward mainstream credibility, as Nobel Prize-winning economist...
