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The Importance of Economics

"[Economics] cannot remain an esoteric branch of knowledge accessible only to  small groups of scholars and specialists. Economics deals with society's fundamental problems: it concerns everyone and belongs to all. It is the main and proper study of every citizen."
                                                                                                  - Ludwig von Mises


Where do prices come from? What is money? What is interest? What is the market? Understanding the Fundamental Economic Concepts is the essential first step to understanding the real impact of human decisions. Economics will not necessarily tell you if an action or policy is "good" or "bad", but economics will tell you that if you pursue a specific action or policy you can expect a specific result. 
"It is no crime to be ignorant of economics, which is, after all, a specialized discipline and one that most people consider to be a 'dismal science.' But it is totally irresponsible to have a loud and vociferous opinion on economic subjects while remaining in this state of ignorance." - Murray Rothbard



Fundamental Economic Concepts →

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