This chapter explores the methodological and philosophical debate surrounding individual versus collective choices in economics. It emphasizes the significance of understanding individual decision-making, dispelling the misconception that macroeconomic issues are collective choices. The discussion ranges from the historical perspective on poverty to modern policy considerations, underscoring the importance of recognizing individual choices and perceptions in shaping economic outcomes.
Pete Boettke, of George Mason University, talks with EconTalk host Russ Roberts about the origins and tenets of Austrian economics. This is a wonderful introduction to how the so-called Austrian economists look at the world and how they continue to influence economics today.