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Distilling Economic Literature

Tag: Heuristics

Why We Bite the Invisible Hand

The Need to Unlearn What We “Know” about Economics

Dr. Ellen Clardy, July 14, 2023August 8, 2025

Part 2 of a Discussion of Peter Foster’s Why We Bite the Invisible Hand Chapter 8 “Do-It-Yourself Economics” Foster continues in this chapter exploring some of the apparently inborn assumptions we apply to the economy that lead to incorrect conclusions. Much like the do-it-yourself-economics (DIYE) brought up in the previous…

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