Source: David Friedman’s Substack
by David Friedman
“One of the things humans value is the welfare of other humans, most obviously their children but often other people as well. How can we fit that fact into economic theory? Gary Becker offered an answer, an economic theory of altruism. His model does not fit all altruistic behavior, as we will see, but it incorporates altruism into economics with a single, simple, assumption that produces an evolutionary explanation for why altruism, including non-kin altruism, exists.” (01/06/25)
https://daviddfriedman.substack.com/p/the-economics-of-altruism