The concept of externality simply means that some effects of some activity may not be taken into account when pricing that activity. Many also receive graduate degrees at some point in their career. Contracts is great because I teach first-year students. The last three principles reflect the workings of the economy as a whole. Strategies and Programmes in Capital Theory: A Contribution to the Methodology of Theory Development, Dissertation, University of Amsterdam. ––– 1976. “Kuhn versus Lakatos or, Paradigms versus Research Programmes in the History of Economics,” in Latsis, ed. (1976), pp. 149–80. ––– 1980b.

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