Economics, as a branch of the more general theory of human action, deals with all human action, i. , with mans purposive aiming at the attainment of ends chosen, whatever these ends may be. Wednesday, August 20, 2014. As we showed in an example in our recent paper. On income data, adjusting for prices reveals average real incomes in Kansas to be higher than in New York, despite New York having much higher incomes as measured in dollars.

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