Reflections on Chapter 22: Frontiers of Microeconomics

This chapter confirmed a lot of concepts that I believed all along should be considered so it was nice to see it included in the book. From the beginning, I though that economists were dismissive of so many aspects of reality that would alter the results of the their models. Human behavior, for one, is largely assumed throughout the text and therefore, by economists as a whole. People are often irrational, they do care about fairness, and most people lack the information to consistently make the "right" decisions. I've often also thought about how different political agendas don't allow the government to make the best decisions from an economic perspective. I'm glad to see that the new direction of microeconomics includes accounting for these aspects of our world that are much harder to measure and predict.