Which One Of You Benefits?
Now, most people imagine that economics is some kind of advanced mathematical study.
And if you listen to the economists who work for the government, they sure try and make it seem like this.
I even read an article (written by an economist) who tried to get another article published in some of the mainstream economic journals, with no success. He’d written the article in very simple terms, so that anybody could understand it.
And it was rejected by all the publications.
Then he took the SAME article, the SAME ideas, and made them sound incredibly complicated and used a bunch of unneeded mathematical formulae.
And it was ACCEPTED by the same publications.
To understand why, here’s a joke:
A hiring manager interviewed three people, a mathematician, an engineer, and an economist. He asked each one what “one plus one” was.
The mathematician looked at him like he was crazy and said, “two.”
The Engineer stroked his chin and said, “Hmm, well that depends on the constraints of the system and various other unknown variables.”
The economist smiled, looked at him and said, “Well, what do you WANT it to be equal to?”
The joke being, of course, that economists can use all kind of mumbo jumbo to make up a bunch of intelligent sounding bullcrap.
But back to the original questions.
Or the original idea. That REAL economics is always based on human action.
And human action is ALWAYS subjective, and ALWAYS involves choice.
And one of those questions is, “At what cost?”
Politicians HATE this question.
But as individuals intending on creating the best life we can, we MUST ask ourselves this question, if we want keep ourselves honest.
Sure, it’s fun to sit on the couch, watch TV, and eat ice cream. But at what cost?
What are you missing out on? What OTHER things could you be doing? How would THEY benefit you? Would they benefit you MORE (in the long or short run) than sitting on the couch?
And famous economic question is, “Who benefits?”
If there’s any funny stuff going on, a good way to find out what’s REALLY going on is to ask, “Who benefits?”
How can you apply this to yourself?
Imagine yourself today, or over the next week.
Imagine yourself a year from now. Five years from now. Ten years from now.
Imagine all of your selves, now and in the future.
Next time you are thinking of doing something (sitting on the couch or building your empire), ask yourself:
The NOW you, or the FUTURE you?
Few people make an effort to plan their future with any conscious or rational thought.
But those that DO, generally have MUCH better lives.