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Unlimited Wants, Limited Resources | How & How NOT to Do Economics with Robert Skidelsky

Lionel Robbins defined economics as: “the science which studies behaviour as a relationship between unlimited wants and limited resources which have alternative uses.” How do we understand this tension between unlimited wants and limited resources? That’s what Robert Skidelsky examines in this second lecture of his INET series, “How and How Not to do Economics.” INET sincerely thanks the Julis-Rabinowitz Family for their generous support, who named this series to honor the spirit of a great educator and economic thinker, Uwe Reinhardt. For nearly 50 years, the late Uwe Reinhardt was a beloved economist and professor at Princeton University. Known best for helping to shape critical discourse around healthcare markets, his biting wit and intellect challenged students, colleagues, and policymakers alike to follow the data and to check all assumptions at the door.