World without Economics

Guess where

The world can get along fine without economics and economists.

Imagine being shipwrecked on an uninhabited island with a bunch of your companions. Unfortunately there’s no chance of being rescued but fortunately the island has lush vegetation and is nicely wooded. To flourish, or even just to survive, you need skills and technology.

To survive and thrive, you would need people in your group who could farm, build shelters, make cloth, mine and refine ores, make tools, provide medical services, and do a whole variety of things. One profession, however, you wouldn’t need are economists. A society can get along perfectly well without economics and economists.

Or can it? Continue reading “World without Economics”

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