The term ”homo economicus” refers to an economic model of rational behavior. It describes an individual who always makes decisions by considering the utility of their actions and maximizing their personal benefit, often making decisions based solely on their preferences.
The author uses the phrase ”times have changed” sarcastically, referring to how economists, once closed off from other disciplines, are now becoming more open by incorporating ideas from fields such as psychology and history. The tone suggests a shift in the discipline, with economists now more willing to collaborate and learn from other perspectives.
The author points out that Becker applied economic methods to non-market phenomena, such as crime and domesticity, but did not borrow from other disciplines like anthropology or history. This indicates that Becker’s work was one-sided and did not integrate interdisciplinary perspectives.
The author critiques Schiller for ignoring the role of institutions in mediating the link between perceptions and behavior. Schiller’s approach oversimplifies the dynamic by focusing on emotions and economic behavior, without considering the vital role institutions like political parties, lobby groups, and media organizations play in shaping societal outcomes.
“Why do they pull down and do away with crooked streets, I wonder, which are my delight, and hurt no man living? Every day the wealthier nations are pulling down one or another in their capitals and their great towns: they do not know why they do it; neither do I. It ought to be enough, surely, to drive the great broad ways which commerce needs and which are the life-channels of a modern city, without destroying all history and all the humanity in between: the islands of the past.”
(From Hilaire Belloc’s “The Crooked Streets”)
Based only on the information provided in the above passage, which one of the following statements is true?
Passage: Toru Dutt is considered the earliest Indian female writer in English. She travelled extensively in Europe from a young age with her family. She and her sister Aru became fascinated with Paris and French literature. In London, they came in contact with such august personages such as Sir Bartle Frere, the Gover- nor of Bombay from 1862 to 1867, and Sir Edward Ryan, the Chief Justice of the Supreme Court, Calcutta, from 1837 to 1843. Toru Dutt was greatly influenced in her writings by French Romantic poets like Victor Hugo and English writers like Elizabeth Browning, John Keats, Charlotte Bronte and Jane Austen. She was also intrigued by the legends and myths of India, and even learned Sanskrit. Her writings were marked by romantic melancholia and an obsession and preoccupation with death. This was partly due to her suffering and pain following the early tragic deaths of her siblings, especially her older sister Aru, with whom she was quite close. Her chosen subjects often portrayed separation, loneliness, captivity, dejec- tion, declining seasons and untimely death. She led an ”Ivory Tower existence” and her own death came quite early, at the age of 21, in the full bloom of her talent and on the eve of the awakening of her genius. Toru Dutt’s most famous work is A Sheaf Gleaned in French Fields, an anthology of poems translated from French to English. It also contained a few original poems that showcase her vast insight into French literature. She used to publish poems in the Bengal Magazine, under the pseudonym ”TD”. But most of her powerful work was published posthumously, in- cluding the French novel Le Journal de Mademoiselle D’Arvers and the unfinished English novel Bianca, or, the Young Spanish Maiden. Her work Ancient Ballads and Legends of Hindustan depicts a shrewd knowledge of Hindu mythology and an instinctive empathy with the conditions of life they represent. An assimilation of the Occident and the Orient nourished Toru’s poetic skills; in her, we find a tripartite influence of a French education, lectures at Cambridge and the study of Sanskrit literature.
“Why do they pull down and do away with crooked streets, I wonder, which are my delight, and hurt no man living? Every day the wealthier nations are pulling down one or another in their capitals and their great towns: they do not know why they do it; neither do I. It ought to be enough, surely, to drive the great broad ways which commerce needs and which are the life-channels of a modern city, without destroying all history and all the humanity in between: the islands of the past.” (From Hilaire Belloc’s “The Crooked Streets”)
Based only on the information provided in the above passage, which one of the following statements is true?