Opportunity knocks, but doesn’t tell us what we will find behind a different door. We often pursue what we’ve always wanted—something hard to turn away from. There are many possible vocations. Additionally, hobbies, vacations, romantic pursuits, and friendships compete for time. How about adding education instead of working or choosing to spend time with the […]| Dr. Gerald Stein
The new Alchian and Allen book Universal Economics is out. The publisher reports the authors have collaborated to produce a ”fresh, final presentation of the analytical tools” contained in their famous (among a certain kind of economics nerd) textbooks University Economics and Exchange and Production. In introducing the idea of opportunity cost in the new …Alchian and Allen, Opportunity Cost, and the Kid in the Candy Store Read More »| Knowledge Problem