|I. BASICS||What is economics?|
I prefer to define economics as a particular way of understanding behavior; what are commonly thought of as economic questions are simply questions for which this way of understanding behavior has proved particularly useful in the past:
economics is that way of understanding behavior that starts from the assumption that people have objectives and tend to choose the correct way to achieve them.
For David Friedman's online text:
Last update Tuesday, August 24, 2004
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