Thursday, May 9, 2013

The Dismal (But Necessary) Science

One of the first things my economics professor told our class was that economics has been referred to as “the dismal science”. The second thing he told us was that the economics textbook could cure insomnia. I found that in his second thought he was absolutely correct. The book was deadly boring. But economics as a dismal science is totally wrong.

While the book was useful for looking up individual facts, it was unreadable. In class, however, with human interaction in the form of questions and debate, economics became vibrant and exciting. So much of human interaction is based on economics, I cannot understand how people are not excited by it.

I have felt, for many years, that the college “economics 101” course should actually be taught as a required senior level high school course. What brought me to this opinion was  watching “man on the street” interviews on politically based TV shows and reading the comments section of news articles. I have found that there is a dearth of economic understanding in this country and perhaps in the world. Maybe this is why politicians get away with so much spin. If you sound like you know what you are talking about, and the people you are addressing know less than you do, they will, often, just accept your statements as fact. To continue, go to

No comments:

Post a Comment