A Con-trick of the Wealthy
Economics can be defined in a few different ways. It’s the study of scarcity, the study of how people use resources and respond to incentives or the study of decision-making. It often involves topics like wealth and finance, but it’s not all about money. Economics is a broad discipline that helps us understand historical trends, interpret today’s headlines, and make predictions about the coming years. Economics ranges from the very small to the very large. The study of individual decisions is called microeconomics. The study of the economy as a whole is called macroeconomics. A microeconomist might focus on families’ medical debt, whereas a macro-economist might focus on sovereign debt. If one considers eating scraps from the table of the wealthy or being able to eat from your own table, is in my view a matter of understanding the concept of economics. Nonetheless, any detailed analysis of the relevant data is often opened ...