At the heart of Mr Becker’s work was the view that “individuals maximise welfare as they conceive it.” Welfare need not mean income; it could derive from the pleasure of altruism or the thrill of deviancy. But critically, this thesis implied that people respond to incentives—a realisation that opened the door to insights across the whole range of human activity. economist/news/finance-and-economics/21601841-economists-everywhere-should-mourn-passing-gary-becker-great-trailblazer?zid=295&ah=0bca374e65f2354d553956ea65f756e0
Posted on: Wed, 14 May 2014 18:33:43 +0000
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