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Adam Smith used the metaphor of an invisible hand to represent the instincts of human nature that direct behavior. Moderated by self-control and guided by proper institutional incentives, actions grounded in instincts can be shown to generate a beneficial social order even if not intended. Smith's concept, however, has been diluted and distorted over time(More)
Part of the difficulty of introducing social economics into the principles course is the perception that social economics is anathema to mainstream economics. 1 As noted by Warren Samuels, however, "neoclassical economics is already a form of social economics" despite its "pretensions of methodological individualism and value-neutrality" [Samuels, p. 2].(More)
The activities and worksheets may be duplicated for classroom use, the number not to exceed the number of students in each class. Notice of copyright must appear on all pages. With the exception of the activities and worksheets, no part of this book may be reproduced in any form or by any means without permission in writing from the publisher. Printed in(More)