Donald Boudreaux starts relating a story of President George Bush and Nobel laureate in economics Vernon Smith which reveals that good economics is not always good politics, and good politics is not always good economics. He explains what democracy is and to what degree people should implement it in every aspect of their lives. He also talks about the beginnings of the public choice school and its objectives within the society. Boudreaux comments on individual choices and how they can be extended to the collective domains. He also presents four assumptions related to human beings' behavior: their rationality, experiences, motivations and goals. Finally, he explains that humans are rationally self-interested and since that is part of human nature it cannot be changed.