Economy Is The Art Of Making The

Different Constraints Are Decisive For Different Situations, But The Most Fundamental Constraint Is Limited Time.

Why In Almost All Societies Have Married Women Specialized In Bearing And Rearing Children And In Certain Agricultural Activities, Whereas Married Men Have Done Most Of The Fighting And Market Work?

The Most Fundamental Constraint Is Limited Time

Human Capital Analysis Starts With The Assumption That Individuals Decide On Their Education, Training, Medical Care, And Other Additions To Knowledge And Health By Weighing The Benefits And Costs. Benefits Include Cultural And Other Non-monetary Gains Along With Improvement In Earnings And Occupations, While Costs Usually Depend Mainly On The Foregone Value Of The Time Spent On These Investments.

Along With Others, I Have Tried To Pry Economists Away From Narrow Assumptions About Self Interest. Behavior Is Driven By A Much Richer Set Of Values And Preferences.