Category Archives: Theory in Pictures

Adam Smith: “Consumption is the sole end and purpose of all production.”

Adam Smith: “Consumption is the sole end and purpose of all production; and the interest of the producer ought to be attended to only so far as it may be necessary for promoting that of the consumer.” Smith, Adam. 1776. … Continue reading

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Berger and Luckmann: “The social world was made by men — and, therefore, can be remade by them”

Berger, Peter and Thomas Luckmann. 1966. The Social Construction of Reality: A Treatise in the Sociology of Knowledge. Doubleday: Garden City, NY. (p. 89)

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Market Rationality (under complete information, of course…)

🙂

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