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Don Cox on the Economics of Parenting

EconTalk

The Fatal Conceit by FA Hayek - A Short Excerpt

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Russell: I don't want anybody to think I'm such an econ nut that my wife and I run our house. Like some sort of a business. That is one thing that I avoid like the plague is any payment, like even allowances. He says he doesn't want to micromanage his kids with any kind of cash payments. Russell: We have a natural urge to take the behavior that we have in the family setting and extend it to the larger order.

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