The “Half of the Time” Homo Economicus: Why a Fundamental Assumption of Economic Theory is the best we can have

There has been a lot of criticism on the assumptions of the homo economicus model which refers to the concept of humans as rational and narrowly self-interested actors. “Economics is that way of understanding behavior that starts from the assumption that people have objectives and tend to choose the correct way to achieve them”, says …

The Machinery of Freedom: Guide to a Radical Capitalism

43 years after it was published for the first time, and 25 years after the last update there is a third edition of David D. Friedman’s classic 1971 work of libertarianism called “The Machinery of Freedom: Guide to a Radical Capitalism”. When I’ve read this book in the late 1990s it really inspired me. One must …