Still, intuitive assumptions about behavior is only the starting point of systematic analysis, for alone they do not yield many interesting implications.

A stronger yuan could lead to greater Chinese asset accumulation in the U.S. and elsewhere.

Fines are preferable to imprisonment and other types of punishment because they are more efficient. With a fine, the punishment to offenders is also revenue to the State.

Still, intuitive assumptions about behavior is only the starting point of systematic analysis, for alone they do not yield many interesting implications.

The most fundamental constraint is limited time

Along with others, I have tried to pry economists away from narrow assumptions about self interest. Behavior is driven by a much richer set of values and preferences.

The Treatise tries to analyze not only modern Western families, but also those in other cultures and the changes in family structure during the past several centuries.