Budaeli

In case you might need a good persuasive argument as to why you should study economics, Amazon has gracously made available the first chapter of the 1948 edition of Economics by Paul Samuelson. For being written 60 years ago it is still quite prescient.

Although the practice appears to be less widespread today, there has been a stigma about studying economics because it is hard and confusing. Sure, but the discipline is damn useful.

With a firm understanding of economics, it is easy to comprehend how some people are wealthy, while others have little; why the price of a slice of pizza has gone up. But also less obvious things: like why do people continue to live in areas that have recurring threats of natural devastation, or why people still abuse credit cards (or cigarettes or junk food or running) even with full knowledge of the dangers.

To answer the question, “Why study economics?” the simple answer is that economics is a set of tools you can use to understand human decision more clearly, so you can make better-informed decisions in your life. It’s one of the few subjects which can make you happier, healthier, and wiser with a little application.

(Via Freakonomics)