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Societies for the History of Economics

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Fri Mar 31 17:18:41 2006
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The way I was taught economics did NOT require that the variables 
in the "to maximize" box or the "subject to" box be material goods  
or material income. 
     Material goods might be one vector INSIDE the maximize box, and 
income might be one constraint in the subject to box -- but the 
constraint of time, mores about behavior, or skill can be considered, 
just like the goals of a healthy family, status in the community, 
or religious expression.   
     Thus there is room to discuss how increased costs of something or  
other might impact on the behavior of someone who is maximizing 
time for religious expression.  That's economics.  Or how shifts in 
legal constraints or institutional arrangements impact on perceived 
and achievable goals. 
     This is honestly the way I was taught economics!  Material 
goods are just PART of the stew. 
     That's a very different kind of economics than one confined to 
material goods or to only those actions taking place through a  
market, isn't it? 
     So what do I call the ONE, and what do I call the OTHER? 
     -- Mary Schweitzer 
 

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