2min chapter

Free Thoughts cover image

Real Economics (with Peter Boettke)

Free Thoughts

CHAPTER

The Invisible Hand and the Rational Choice Postulate

There's a main line of economics which is derived from the idea that we live in a world of scarcity, that individuals make choices against constraints. And ultimately, what we have as we have two fundamental propositions, the invisible hand proposition about the self regulating powers of the market, and we have the rational choice postulate. We're going to try to square therational choice postulatewith the invisible hand.

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