Oxford University Press's
Academic Insights for the Thinking World

  • Author: Alvin Birdi

Will the real Robinson Crusoe please stand up?

It is difficult to think of a literary narrative, other than Robinson Crusoe, that economists have so enthusiastically appropriated as part of their cultural heritage. The image of Robinson, shipwrecked, alone, and forced to decide how to use his finite resources, has become almost emblematic in the teaching of the problem of choice in economics.

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