“COMMON SENSE” ECONOMICS …
PRINCIPLES –
SOME “LAWS” of “NATURE” NEVER CHANGE … scarcity, costs, supply and demand … the INTERSECTION of “CONCRETE” and “ABSTRACT” … HUMAN NATURE … e.g. “value” and “valueS” …
PRACTICES –
human APPLICATION of economics in the “real”, physical world … the “PRACTICAL” (what “works)
PURPOSE –
“INTERESTS” guide, influence and motivate human behavior … the INTERSECTION of human practices (MEANS) towards and END …
DESIRES (causes …starting points) … towards DESTINATIONS (end result … effects) …
The “INTERSECTION” of THEORIES (“facts”) empirical – testable and observable) and OPINIONS (“feelings”) … ABSTRACT “ideals” …
Economics “X-treme” – BENEATH (insights), BEFORE (our faces – sight) BEYOND (foresight)
the PHYSICAL world INTERSECTS with the ABSTRACT ..
the TANGIBLE … and IN-tanglible …
MEASURABLE … NON (or not easily) -MEASURABLE ….
the “PREDICTABLE” (nature)… and UN-PREDICTABLE (human nature) ..
MATERIAL and META-(beyond)-PHYSICAL – PHILOSOPHICAL … e.g. satisfaction, “success”, “happiness”, “justice”, “virtues”, vices
Economic “LITERACY” involves the “intersection” of COSTS, CHOICES and CONSEQUENCES …
“COMMON SENSE” Economics seeks “LITERACY” … a combination of economic KNOWLEDGE, USE and UNDERSTANDING, hopefully with “WISDOM” …
can we EXPLAIN as economic “scientists” (thesis, analysis, synthesis) and “detectives” – the what, who and why things “work” and does NOT work? …
P.S.
