From the daily archives: Monday, November 3, 2008
The human problem of ‘scarce resources and unlimited wants’ is oft-posited as a primary motivation for studying economics. As this phrase makes clear, ‘wants’ (‘preferences’ to use the more usual terminology) are a central part of what we study, and the existence, and stability, of those ‘wants/preferences’ therefore merit serious consideration.[^1]
[^1]: It is interesting [...]
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