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| Author: | Russell, T. |
| Title: | The rationality hypothesis in economics: from Wall Street to Main Street |
| Journal: | Journal of Economic Methodology
1997 : JUN, Vol. 4:1, p. 83-100 |
| Index terms: | RATIONALITY MACROECONOMICS ECONOMIC THEORY |
| Language: | eng |
| Abstract: | In the last twenty years there has been a noticeable shift in the way in which economists view their discipline. Pushed to define their subject, a whole generation would have simply quoted Lionel Robbins' (1932) definition of economics as "the science which studies human behavior as a relationship between ends and means which have alternative uses". Both Samuelson's Economics and Friedman's Price Theory textbooks, though differing in many other respects, took this point of view. |
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