A more careful use of language in economics education will prove to be a valuable piece of equipment for the next generation of economists. With relatively little effort, educators can greatly improve economics courses by insisting on a more precise use of words. By critically discussing the...

Part I - The New World of Economic Thinking: Economic Thinking -- Anything Worth Doing Is Not Necessarily Worth Doing Well -- Maslow’s Hierarchy of Needs-And Economist’s Demand -- Part II -The New World of Market Economics: Price and the “Law of Unintended Consequences”.- Pricing Lemons,...

We examine here the quasi-transitivity axiom which is considered to be a minimal criterion which a rational preference should respect. We check for the consistency of this axiom with the well-known theory if choice function.

The foundation of a functioning welfare state is a tax system that is widely accepted and considered to be fair and legitimate. How and by what means a tax collecting agency interprets the laws are thus seen to have an impact on taxpayers’ willingness to pay. This article addresses the various...