Huckleberry"Huck" Seed is an American professional poker player best known for winning the Main Event of the 1996 World Series of Poker. Seed was born in Santa Clara, but grew up in Corvallis, where he attended Corvallis High School, he was a member of the 1987 Montana All-State basketball team. Seed was an electrical engineering student at California Institute of Technology and a member of Fleming House, he took a leave of absence in 1989, started playing poker, never returned to college. Seed was a star player on Caltech's basketball team and is featured in the 2006 documentary Quantum Hoops. Seed won the 1996 World Series of Poker main event, which resulted in his second bracelet and the $1,000,000 first prize, he made the final table of the 1999 WSOP main event, but was eliminated in sixth place by eventual champion Noel Furlong. In the 2003 World Series of Poker, Seed won his fourth career bracelet in a $3,000 Limit Razz tournament, he defeated Phil Ivey in heads-up play to win the bracelet.
In the 2007 Main Event, Seed finished 73rd out of 6,358 players. Seed won the 2009 NBC Heads-Up Poker Championship, where he took the top prize of $500,000 and improved his overall record in the event to 18-4, an all-time best for win total. In addition, Seed became the only player to cash in every NBC Heads-Up tournament. Seed's streak ended in the 2010 tournament with his first round loss to eventual runner-up Erik Seidel. In 2010, Seed won the World Series of Poker Tournament of Champions freeroll for $500,000; as of October 2011, his total live tournament winnings exceed $5,900,000. He has four WSOP bracelets and 40 total cashes at the WSOP, accounting for $3,331,986 of his live tournament winnings. Seed has been involved in many "prop bets", he once made a $10,000 proposition bet with Phil Hellmuth and Konstantin Othmer that he could float in the ocean for 24 hours without touching the bottom. By bet rules, he was not allowed to bet more than an additional $15,000, could settle the bet without attempting the feat for $5,000, what happened.
This bet has been incorrectly reported. Seed once took a six-figure bet that he could break 100 on a desert golf course four times in a day using just a five iron, sand wedge, putter, he has bet that he would be able to go an entire year without shaving
Texas hold 'em
Texas hold'em is a variation of the card game of poker. Two cards, known as hole cards, are dealt face down to each player, five community cards are dealt face up in three stages; the stages consist of a series of three cards an additional single card, a final card. Each player seeks the best five card poker hand from any combination of the seven cards of the five community cards and their two hole cards. Players have betting options to check, raise, or fold. Rounds of betting take place before the flop is dealt and after each subsequent deal; the player who has the best hand and has not folded by the end of all betting rounds wins all of the money bet for the hand, known as the pot. Texas hold'em is the H game featured in HORSE and in HOSE. In Texas hold'em, as in all variants of poker, individuals compete for an amount of money or chips contributed by the players themselves; because the cards are dealt randomly and outside the control of the players, each player attempts to control the amount of money in the pot based either on the hand they are holding, or on their prediction as to what their opponents may be holding and how they might behave.
The game is divided into a series of hands. A hand may end at the showdown, in which case the remaining players compare their hands and the highest hand is awarded the pot; the other possibility for the conclusion of a hand occurs when all but one player have folded and have thereby abandoned any claim to the pot, in which case the pot is awarded to the player who has not folded. The objective of winning players is not to win every individual hand, but rather to make mathematically and psychologically better decisions regarding when and how much to bet, call—or fold. By making such decisions to place influential bets, one can non-verbally represent or suggest holding or not-holding a certain or possible hand by either betting or not-betting pre-flop, by venturing smaller or larger bets or raises at more advantageous times, throughout the stages of the hand being dealt. One's pattern of betting may encourage opponents to bet or to fold, without verbalizing a discouraging or dishonest word; the winning poker players know how to enhance their opponents' betting and maximize their own expected gain on each round of betting, to thereby increase their long-term winnings.
Although little is known about the invention of Texas hold'em, the Texas Legislature recognizes Robstown, Texas, as the game's birthplace, dating it to the early 1900s. After the game spread throughout Texas, hold'em was introduced to Las Vegas in 1963 at the California Club by Corky McCorquodale; the game became popular and spread to the Golden Nugget and Dunes. In 1967, a group of Texan gamblers and card players, including Crandell Addington, Doyle Brunson, Amarillo Slim were playing in Las Vegas; this is. Addington said the first time he saw the game was in 1959. "They didn't call it Texas hold'em at the time, they just called it hold'em.… I thought that if it were to catch on, it would become the game. Draw poker, you bet only twice; that meant. This was more of a thinking man's game."For several years the Golden Nugget Casino in Downtown Las Vegas was the only casino in Las Vegas to offer the game. At that time, the Golden Nugget's poker room was "truly a'sawdust joint,' with…oiled sawdust covering the floors."
Because of its location and decor, this poker room did not receive many rich drop-in clients, as a result, professional players sought a more prominent location. In 1969, the Las Vegas professionals were invited to play Texas hold'em at the entrance of the now-demolished Dunes Casino on the Las Vegas Strip; this prominent location, the relative inexperience of poker players with Texas hold'em, resulted in a remunerative game for professional players. After a failed attempt to establish a "Gambling Fraternity Convention", Tom Moore added the first poker tournament to the Second Annual Gambling Fraternity Convention held in 1969; this tournament featured. In 1970, Benny and Jack Binion acquired the rights to this convention, renamed it the World Series of Poker, moved it to their casino, Binion's Horseshoe, in Las Vegas. After its first year, a journalist, Tom Thackrey, suggested that the main event of this tournament should be no-limit Texas hold'em; the Binions agreed and since no-limit Texas hold'em has been played as the main event.
Interest in the main event continued to grow over the next two decades. After receiving only eight entrants in 1972, the numbers grew to over one hundred entrants in 1982, over two hundred in 1991. During this time, B & G Publishing Co. Inc. published Doyle Brunson's revolutionary poker strategy guide, Super/System. Despite being self-published and priced at $100 in 1978, the book revolutionized the way poker was played, it was one of the first books to discuss Texas hold'em, is today cited as one of the most important books on this game. In 1983, Al Alvarez published The Biggest Game in Town, a book detailing a 1981 World Series of Poker event; the first book of its kind, it described the world of professional poker players and the World Series of Poker. Alvarez's book is credited with begin
Betting in poker
In the game of poker, the play centers on the act of betting, as such, a protocol has been developed to speed up play, lessen confusion, increase security while playing. Different games are played using different types of bets, small variations in etiquette exist between cardrooms, but for the most part the following rules and protocol are observed by the majority of poker players. Players in a poker game act in clockwise rotation; when it is a player's turn to act, the first verbal declaration or action they take binds them to their choice of action. Until the first bet is made each player in turn may "check,", to not place a bet, or "open,", to make the first bet. After the first bet each player may "fold,", to drop out of the hand losing any bets they have made. A player may fold by surrendering one's cards. A player may check by making any similar motion. All other bets are made by placing chips in front of the player, but not directly into the pot. In general, the person to the left of the dealer acts first and action proceeds in a clockwise fashion.
If any player has folded earlier, action proceeds to next player. In games with blinds, the first round of betting begins with the player to the left of the blinds. In stud games, action begins with the player showing the strongest proceeds clockwise. If there is a bring-in, the first round of betting begins with the player obliged to post the bring-in. If no one has yet opened the betting round, a player may pass or check, equivalent to betting zero and/or to calling the current bet of zero; when checking, a player declines to make a bet. In games played with blinds, players may not check on the opening round because the blinds are live bets and must be called or raised to remain in the hand. A player who has posted the big blind has the right to raise on the first round, called the option, if no other player has raised. If all players check, the betting round is over with no additional money placed in the pot. A common way to signify checking is to tap the table, either with a fist, knuckles, an open hand or the index finger.
If in any betting round it is a player's turn to act and the action is unopened the player can open action in a betting round by making a bet—the act of making the first voluntary bet in a betting round is called opening the round. On the first betting round, it is called opening the pot, though in variants where blind bets are common, the blind bets "open" the first betting round and other players call and/or raise the "big blind" bet; some poker variations have special rules about opening a round. For example, a game may have a betting structure that specifies different allowable amounts for opening than for other bets, or may require a player to hold certain cards to open. A player makes a bet by placing the chips they wish to wager into the pot. Under normal circumstances, all other players still in the pot must either call the full amount of the bet or raise if they wish remain in, the only exceptions being when a player does not have sufficient stake remaining to call the full amount of the bet or when the player is all-in.
To raise is to increase the size of an existing bet in the same betting round. A player making the second or subsequent raise of a betting round is said to re-raise. A player making a raise after checking in the same betting round is said to check-raise; the sum of the opening bet and all raises is the amount that all players in the hand must call in order to remain eligible to win the pot, subject to the table stakes rules described in the previous paragraph. A bluff is when a player bets or raises when it is they do not have the best hand; when a player bets or raises with a weak hand that has a chance of improvement on a betting round, the bet or raise is classified as a semi-bluff. On the other hand, a bet made by a player who hopes or expects to be called by weaker hands is classified as a value bet. In no-limit and pot-limit games, there is a minimum amount, required to be bet in order to open the action. In games with blinds, this amount is the amount of the big blind. Standard poker rules require that raises must be at least equal to the amount of the previous bet or raise.
For example, if an opponent bets $5, a player must raise by at least another $5, they may not raise by only $2. If a player raises a bet of $5 by $7, the next re-raise would have to be by at least another $7 more than the $12; the primary purpose of the minimum raise rule is to avoid game delays caused by "nuisance" raises (small raises of large bets, such as an extra $1 over a current bet of $50, that have little effect on the action but take time as all others m
World Series of Poker bracelet
The World Series of Poker bracelet is considered the most coveted non-monetary prize a poker player can win. Since 1976, a bracelet has been awarded to the winner of every event at the annual WSOP. If the victory occurred before 1976, WSOP championships are now counted as "bracelets". During the first years of the WSOP only a handful of bracelets were awarded each year. In 1990, there were only 14 bracelet events. By 2000, that number increased to 24; as the popularity of poker has increased during the 2000s, the number of events has increased. In 2011, 58 bracelets were awarded at the WSOP, seven at the World Series of Poker Europe, one to the WSOP National Circuit Champion; this brought the total number of bracelets awarded up to 959. Five additional bracelets were awarded for the first time in April 2013 at the inaugural World Series of Poker Asia-Pacific in Melbourne, Australia.. In 2017, 74 for bracelets were awarded at the WSOP and an additional 11 will be awarded at the WSOPE in Czech Republic.
After the conclusion of the 2014 WSOP APAC, there have been 1083 bracelets awarded, 500 of which were won by 170 players who have won at least two bracelets, with all of the other bracelets being won by one-time winners. This includes 17 Main Event winners: Hal Fowler, Bill Smith, Mansour Matloubi, Brad Daugherty, Jim Bechtel, Russ Hamilton, Noel Furlong, Robert Varkonyi, Chris Moneymaker, Greg Raymer, Joe Hachem, Jamie Gold, Jerry Yang, Peter Eastgate, Pius Heinz, Ryan Riess and Martin Jacobson. Since Chris Moneymaker won the 2003 Main Event, only three players have won and followed it up with a win in another bracelet event, Jonathan Duhamel, Joe Cada and Joe McKeehen; the 1976 bracelet looked "like gold nuggets kind of hammered flat". The bracelet in 1976 cost $500. In the 1980s, Las Vegas jeweler Mordechai Yerushalmi became the exclusive manufacturer of WSOP bracelets until Harrah's Entertainment bought the rights to the WSOP in 2004. According to 2003 WSOP Champion Chris Moneymaker, the design of the bracelet remained unchanged under Yerushalmi.
In 2005, Gold and Diamond International based in Memphis, TN won the bid from Harrah's Entertainment to manufacture the 2005 World Series of Poker bracelets. The company manufactures the WSOP circuit rings. In 2006, Frederick Goldman, Inc. made the WSOP bracelets while luxury watch maker Corum introduced some commemorative watches as part of the prize package. In 2006, the Champion's bracelet had 259 stones including 7.2 carats of diamonds, 120 grams of white and yellow gold. It used rubies to represent the heart and diamond suits, a sapphire to represent the spade and three black diamonds to represent the clubs. In 2007, Corum became the official bracelet manufacturer for the WSOP; some of the 2007 World Series of Poker champions received both a bracelet from Corum. Corum designed four variations for the 2007 World Series of Poker Bracelets; the standard version, presented to 53 winners features 53 diamonds. The Ladies World Champion receives a bracelet, adorned with four black diamonds, two rubies and 87 blue sapphires.
The $50,000 HORSE Champion Bracelet has two rubies. The World Series of Poker Main Event Bracelet has 120 diamonds on 136 grams of 18 carat white gold; the value of the 2007 bracelets have not been released, but the typical price of a Corum watch ranges from $1,500–$30,000+. In 2008, the Main Event Bracelet had 291 diamonds, totalling 2.81 carats set in 168 grams of 18kt white gold. The other 54 event bracelets consisted of 55 diamonds, totalling 0.25 carats set in 80 grams of 14kt yellow gold. In 2010, an Australian-based company OnTilt Designs Pty Ltd won a multi-year contract to become the official bracelet manufacturer for the WSOP. OnTilt jewelers decided that the 2010 bracelet design would return to the tradition of the 1970s and 1980s where the bracelet was a heavy piece of unadorned metal. American jewelry designer Steve Soffa was chosen to design and manufacture the entire set of bracelets; the goal was to create a bracelet that somebody would want to wear every day. In 2011, OnTilt has been chosen to manufacture the WSOP Circuit rings.
In 2012, Jason Arasheben, famed jewelry designer and owner of Jason of Beverly Hills was chosen as the official bracelet manufacturer of the WSOP. Arasheben had designed the championship rings for the 2009 and 2010 Los Angeles Lakers and the 2011 Green Bay Packers, among others; the Main Event bracelet will feature each suit in the deck in black diamonds. In terms of sheer mass, it weighs in at over 160 grams of 14 karat gold and over 35 carats of flawless diamonds. A special platinum bracelet was awarded at the 2012 WSOP to the winner of The Big One for One Drop, Antonio Esfandiari; the event was a $1 million buy-in tournament created as a fundraiser for the One Drop Foundation, a charity established by Cirque du Soleil founder Guy Laliberté. At first, the bracelets did not have much prestige. Ten-time bracelet winner Doyle Brunson said that his first bracelet "didn't mean anything" to him and that he did not pick up two of them; some professional poker players believe. Those who have belong to an exclusive club.
"It's impossible to overstate the value of a World Series of Poker gold bracelet to anyone who takes the game seriously," stated World Series of Poker Commissioner Jeffrey Pollack during the 2006 bracelet unveiling. "It is the equivalent of winning the Stanley Cup in hockey or the Lombardi Trophy in American football."Many professional poker players desire the recognition, associated with the bracelet. Former Celebrit
The United States of America known as the United States or America, is a country composed of 50 states, a federal district, five major self-governing territories, various possessions. At 3.8 million square miles, the United States is the world's third or fourth largest country by total area and is smaller than the entire continent of Europe's 3.9 million square miles. With a population of over 327 million people, the U. S. is the third most populous country. The capital is Washington, D. C. and the largest city by population is New York City. Forty-eight states and the capital's federal district are contiguous in North America between Canada and Mexico; the State of Alaska is in the northwest corner of North America, bordered by Canada to the east and across the Bering Strait from Russia to the west. The State of Hawaii is an archipelago in the mid-Pacific Ocean; the U. S. territories are scattered about the Pacific Ocean and the Caribbean Sea, stretching across nine official time zones. The diverse geography and wildlife of the United States make it one of the world's 17 megadiverse countries.
Paleo-Indians migrated from Siberia to the North American mainland at least 12,000 years ago. European colonization began in the 16th century; the United States emerged from the thirteen British colonies established along the East Coast. Numerous disputes between Great Britain and the colonies following the French and Indian War led to the American Revolution, which began in 1775, the subsequent Declaration of Independence in 1776; the war ended in 1783 with the United States becoming the first country to gain independence from a European power. The current constitution was adopted in 1788, with the first ten amendments, collectively named the Bill of Rights, being ratified in 1791 to guarantee many fundamental civil liberties; the United States embarked on a vigorous expansion across North America throughout the 19th century, acquiring new territories, displacing Native American tribes, admitting new states until it spanned the continent by 1848. During the second half of the 19th century, the Civil War led to the abolition of slavery.
By the end of the century, the United States had extended into the Pacific Ocean, its economy, driven in large part by the Industrial Revolution, began to soar. The Spanish–American War and World War I confirmed the country's status as a global military power; the United States emerged from World War II as a global superpower, the first country to develop nuclear weapons, the only country to use them in warfare, a permanent member of the United Nations Security Council. Sweeping civil rights legislation, notably the Civil Rights Act of 1964, the Voting Rights Act of 1965 and the Fair Housing Act of 1968, outlawed discrimination based on race or color. During the Cold War, the United States and the Soviet Union competed in the Space Race, culminating with the 1969 U. S. Moon landing; the end of the Cold War and the collapse of the Soviet Union in 1991 left the United States as the world's sole superpower. The United States is the world's oldest surviving federation, it is a representative democracy.
The United States is a founding member of the United Nations, World Bank, International Monetary Fund, Organization of American States, other international organizations. The United States is a developed country, with the world's largest economy by nominal GDP and second-largest economy by PPP, accounting for a quarter of global GDP; the U. S. economy is post-industrial, characterized by the dominance of services and knowledge-based activities, although the manufacturing sector remains the second-largest in the world. The United States is the world's largest importer and the second largest exporter of goods, by value. Although its population is only 4.3% of the world total, the U. S. holds 31% of the total wealth in the world, the largest share of global wealth concentrated in a single country. Despite wide income and wealth disparities, the United States continues to rank high in measures of socioeconomic performance, including average wage, human development, per capita GDP, worker productivity.
The United States is the foremost military power in the world, making up a third of global military spending, is a leading political and scientific force internationally. In 1507, the German cartographer Martin Waldseemüller produced a world map on which he named the lands of the Western Hemisphere America in honor of the Italian explorer and cartographer Amerigo Vespucci; the first documentary evidence of the phrase "United States of America" is from a letter dated January 2, 1776, written by Stephen Moylan, Esq. to George Washington's aide-de-camp and Muster-Master General of the Continental Army, Lt. Col. Joseph Reed. Moylan expressed his wish to go "with full and ample powers from the United States of America to Spain" to seek assistance in the revolutionary war effort; the first known publication of the phrase "United States of America" was in an anonymous essay in The Virginia Gazette newspaper in Williamsburg, Virginia, on April 6, 1776. The second draft of the Articles of Confederation, prepared by John Dickinson and completed by June 17, 1776, at the latest, declared "The name of this Confederation shall be the'United States of America'".
The final version of the Articles sent to the states for ratification in late 1777 contains the sentence "The Stile of this Confederacy shall be'The United States of America'". In June 1776, Thomas Jefferson wrote the phrase "UNITED STATES OF AMERICA" in all capitalized letters in the headline of his "original Rough draught" of the Declaration of Independence; this draft of the document did not surface unti
Poker is a family of card games that combines gambling and skill. All poker variants involve betting as an intrinsic part of play, determine the winner of each hand according to the combinations of players' cards, at least some of which remain hidden until the end of the hand. Poker games vary in the number of cards dealt, the number of shared or "community" cards, the number of cards that remain hidden, the betting procedures. In most modern poker games the first round of betting begins with one or more of the players making some form of a forced bet. In standard poker, each player bets according to the rank they believe their hand is worth as compared to the other players; the action proceeds clockwise as each player in turn must either match the maximum previous bet, or fold, losing the amount bet so far and all further involvement in the hand. A player who matches a bet may "raise" the bet; the betting round ends when all players folded. If all but one player folds on any round, the remaining player collects the pot without being required to reveal their hand.
If more than one player remains in contention after the final betting round, a showdown takes place where the hands are revealed, the player with the winning hand takes the pot. With the exception of initial forced bets, money is only placed into the pot voluntarily by a player who either believes the bet has positive expected value or, trying to bluff other players for various strategic reasons. Thus, while the outcome of any particular hand involves chance, the long-run expectations of the players are determined by their actions chosen on the basis of probability and game theory. Poker has increased in popularity since the beginning of the 20th century and has gone from being a recreational activity confined to small groups of enthusiasts to a popular activity, both for participants and spectators, including online, with many professional players and multimillion-dollar tournament prizes. Poker was developed sometime during the early 19th century in the United States. Since those early beginnings, the game has grown to become an popular pastime worldwide.
In the 1937 edition of Foster's Complete Hoyle, R. F. Foster wrote: "the game of poker, as first played in the United States, five cards to each player from a twenty-card pack, is undoubtedly the Persian game of As-Nas." By the 1990s some gaming historians including David Parlett started to challenge the notion that poker is a direct derivative of As-Nas. Developments in the 1970s led to poker becoming far more popular. Modern tournament play became popular in American casinos after the World Series of Poker began, in 1970. In casual play, the right to deal a hand rotates among the players and is marked by a token called a dealer button. In a casino, a house dealer handles the cards for each hand, but the button is rotated clockwise among the players to indicate a nominal dealer to determine the order of betting; the cards are dealt clockwise around one at a time. One or more players are required to make forced bets either an ante or a blind bet; the dealer shuffles the cards, the player on the chair to his or her right cuts, the dealer deals the appropriate number of cards to the players one at a time, beginning with the player to his or her left.
Cards may be dealt depending on the variant of poker being played. After the initial deal, the first of what may be several betting rounds begins. Between rounds, the players' hands develop in some way by being dealt additional cards or replacing cards dealt. At the end of each round, all bets are gathered into the central pot. At any time during a betting round, if one player bets, no opponents choose to call the bet, all opponents instead fold, the hand ends the bettor is awarded the pot, no cards are required to be shown, the next hand begins; this is. Bluffing is a primary feature of poker, one that distinguishes it from other vying games and from other games that make use of poker hand rankings. At the end of the last betting round, if more than one player remains, there is a showdown, in which the players reveal their hidden cards and evaluate their hands; the player with the best hand according to the poker variant being played wins the pot. A poker hand comprises five cards. Poker variations are played where a "low hand" may be the best desired hand.
In other words, when playing a poker variant with "low poker" the best hand is one that contains the lowest cards. So while the "majority" of poker game variations are played "high hand", where the best high "straight, flush etc." wins, there are poker variations where the "worst hand" wins, such as "low ball, acey-ducey, high-lo split etc. game variations". To summarize, there can be variations that are "high poker", "low poker", "high low split". In the case of "high low split" the pot is divided among low hand. Poker has many variations, all following a similar pattern of play and using the same hand ranking hierarchy. There are four main families of variants grouped by the protocol of card-dealing and betting: Straight A complete hand is dealt to each player, players bet in one round, with raising and re-raising allowed; this is the oldest poker family.
Economics is the social science that studies the production and consumption of goods and services. Economics focuses on the behaviour and interactions of economic agents. Microeconomics analyzes basic elements in the economy, including individual agents and markets, their interactions, the outcomes of interactions. Individual agents may include, for example, firms and sellers. Macroeconomics analyzes the entire economy and issues affecting it, including unemployment of resources, economic growth, the public policies that address these issues. See glossary of economics. Other broad distinctions within economics include those between positive economics, describing "what is", normative economics, advocating "what ought to be". Economic analysis can be applied throughout society, in business, health care, government. Economic analysis is sometimes applied to such diverse subjects as crime, the family, politics, social institutions, war and the environment; the discipline was renamed in the late 19th century due to Alfred Marshall, from "political economy" to "economics" as a shorter term for "economic science".
At that time, it became more open to rigorous thinking and made increased use of mathematics, which helped support efforts to have it accepted as a science and as a separate discipline outside of political science and other social sciences. There are a variety of modern definitions of economics. Scottish philosopher Adam Smith defined what was called political economy as "an inquiry into the nature and causes of the wealth of nations", in particular as: a branch of the science of a statesman or legislator a plentiful revenue or subsistence for the people... to supply the state or commonwealth with a revenue for the publick services. Jean-Baptiste Say, distinguishing the subject from its public-policy uses, defines it as the science of production and consumption of wealth. On the satirical side, Thomas Carlyle coined "the dismal science" as an epithet for classical economics, in this context linked to the pessimistic analysis of Malthus. John Stuart Mill defines the subject in a social context as: The science which traces the laws of such of the phenomena of society as arise from the combined operations of mankind for the production of wealth, in so far as those phenomena are not modified by the pursuit of any other object.
Alfred Marshall provides a still cited definition in his textbook Principles of Economics that extends analysis beyond wealth and from the societal to the microeconomic level: Economics is a study of man in the ordinary business of life. It enquires how he uses it. Thus, it is on the one side, the study of wealth and on the other and more important side, a part of the study of man. Lionel Robbins developed implications of what has been termed "erhaps the most accepted current definition of the subject": Economics is a science which studies human behaviour as a relationship between ends and scarce means which have alternative uses. Robbins describes the definition as not classificatory in "pick out certain kinds of behaviour" but rather analytical in "focus attention on a particular aspect of behaviour, the form imposed by the influence of scarcity." He affirmed that previous economists have centred their studies on the analysis of wealth: how wealth is created and consumed. But he said that economics can be used to study other things, such as war, that are outside its usual focus.
This is because war has as the goal winning it, generates both cost and benefits. If the war is not winnable or if the expected costs outweigh the benefits, the deciding actors may never go to war but rather explore other alternatives. We cannot define economics as the science that studies wealth, crime and any other field economic analysis can be applied to; some subsequent comments criticized the definition as overly broad in failing to limit its subject matter to analysis of markets. From the 1960s, such comments abated as the economic theory of maximizing behaviour and rational-choice modelling expanded the domain of the subject to areas treated in other fields. There are other criticisms as well, such as in scarcity not accounting for the macroeconomics of high unemployment. Gary Becker, a contributor to the expansion of economics into new areas, describes the approach he favours as "combin assumptions of maximizing behaviour, stable preferences, market equilibrium, used relentlessly and unflinchingly."
One commentary characterizes the remark as making economics an approach rather than a subject matter but with great specificity as to the "choice process and the type of social interaction that analysis involves." The same source reviews a range of definitions included in principles of economics textbooks and concludes that the lack of agreement need not affect the subject-matter that the texts treat. A