The fundamentals of economics is fun to learn. They are also somewhat counter-intuitive, until you internalize them and then it becomes part of your intuition.
Friedrich von Hayek held that “The curious task of economics is to demonstrate to men how little they really know about what they imagine they can design.”
Social engineering and economic planning fails precisely when social scientists, instead of being students, presume to be able to intervene into things that are not amenable to design. The worst offenders in this regard are ignorant politicians. They push the country into needless poverty. Continue reading “Lessons from Economics”