There is no God in economics

Author: Gong Huaping
Publisher:
Publish Date: 2006-06-01
Features: Hobson's Choice The British businessman in Cambridge, England, named Hobson, when selling horses, would let all the horses out for customers to choose, but he would add a condition: customers were only allowed to pick the horse closest to the door. Obviously, this was equivalent to telling customers there was no choice. A "choice" with no alternatives is known as "Hobson's Choice." "Hobson's Choice" has been rampant in our lives. Although theoretically you always have numerous options, certain restrictions reduce the range of your choices, sometimes even limiting you to only one option. The limitation of choice can change the opportunity cost. For example, if the government implements wartime emergency policies, requiring everyone to deposit their additional income in banks for potential mobilization, then the opportunity cost of depositing 50,000 yuan in the bank would be 0 yuan, not 6,500 yuan. At this point, the opportunity cost has lost its function as a basis for decision-making. From the perspectives of psychology, politics, economics, or philosophy, the assertion that "freedom is relative" is undeniable. What is called "free choice" is more or less constrained and restricted, which significantly narrows the range of choices. For a "free" college student, after graduation, he can choose to work, continue his studies, go abroad, or even retreat to a small room to write books, and so on. However, due to "lack of funds," his choice to study abroad becomes practically non-existent. Meanwhile, the societal that prioritizes academic credentials and his parents' expectations for further studies force him to choose to pursue postgraduate studies.