ABSTRACT
The conventional order of economic theory starts with Robinson Crusoe, who makes choices which are typically characterized by models of constrained optimization. Other people (Friday) are introduced only after Crusoe’s optimizing activities have been explored. Economics is thus construed as a science of household management, and with the state being just one particular type of household. Constrained optimization provides the foundational template for economic theory in the neo-Walrasian motif, as illustrated nicely by Gary Becker (1976).
