Abstract
Human action unfolds within tramlines that previous generations have laid down: ‘Man acts within a set of institutional constraints that have developed historically: in part by sheer accident; in part by survival in a social evolutionary process; in part by technological necessity; in part by constructive design (correctly or incorrectly conceived)’ (CW I, 361). Individuals reveal preferences. They like to think that their preferences are innate, idiosyncratic and fully authentic. They like to say, ‘Don’t tread on me’. It is too late. The treading is a fait accompli. Much that they reveal is standard issue for their club.
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© 2015 David Reisman
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Reisman, D. (2015). Rules without Regulators. In: James Buchanan. Great Thinkers in Economics Series. Palgrave Macmillan, London. https://doi.org/10.1057/9781137427182_3
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DOI: https://doi.org/10.1057/9781137427182_3
Publisher Name: Palgrave Macmillan, London
Print ISBN: 978-1-349-49105-6
Online ISBN: 978-1-137-42718-2
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