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![]() In reality, very little of the undergraduate economics syllabus focuses on perfectly functioning markets generating optimal outcomes. They propagate a myth that economics departments focus on churning out unthinking graduates trained to parrot “supply and demand” in response to every question. Others emphasise how the forces of supply and demand shape every aspect of the world around us.While these books have their merits, they don’t do the economics profession much justice. Recent years have seen the emergence of a particular class of “popular economics” book which emphasises that the economic principle of people acting in their own rational self-interest explains all sorts of phenomena outside the usual perceived boundaries of economics. ![]()
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