Becker: The idea that some preferences are better than others has been a big part of every aspect of life. He says economists think people are selfish, but only if you think Mother Teresa was selfish because she was acting in accordance with her own preferences and goals. Becker: We're going to use economic parameters like income and price change to explain changes in purchases. That's what economics is in nutshell.
Economist and author Michael Munger of Duke University talks about human wants and desires with EconTalk host Russ Roberts. Human beings have desires about our desires. Can we change what we want? And how should economists and normal human beings think about doing the right thing, what we often call morality? Is acting morally self-interested behavior or is it possible to act selflessly?