Consider this chart. It appears in a book entitled A Farewell To Arms: A Brief Economic History Of The World and illustrates the worldwide change in personal income over 3000 years. We can …
Why Study Economics?
Economics is the science of human thriving. It is the study of human choices and the motivations behind them. If we can understand those simple things, we can understand every transaction between …
The Culture Of Entrepreneurship Promises An Exciting Breakout From Government, Corporatism And Dependency.
The science of economics has a big problem with vocabulary. It attempts to capture complex concepts in single words and phrases, which only serve to confuse and befuddle and cause arguments. To take a …
Mainstream Economists Favor Efficiency. That Should Not Be A Goal – It Should Be Avoided.
What does an economy do? Modern economics suggests it is about [production] efficiency, and develops models for assessing the degree to which it is achieved and predicting outcomes assuming it. This …