Not many read into economics. However; once started, it can evolve to a new way of studying the very movement of society. I've been consumed for months after picking up on one article by the Mises Institute.
It is not without much thought that I've finally decided upon a course of action. Now in the past few months as I worked, I toyed heavily with pursuing Economics, most notably Austrian Economics. However; events dictate a slightly different path - and one that is not entirely unwholesome for me. No; it is quite palatable. I will be pursuant of a BSBA after my work is done here. When that is accomplished I'll be finishing up with an MBA/MIS. That is, Masters in Business Administration combined with Management Information Systems. Because of the locality I believe Sin City is my appropriate future abode.
It is exciting to realize in a mere reading that so much of what our society takes for granted is false. After a mere session one feels compelled to start spreading the truth. Which is in essence why I've decided to place my 'faith' in this one art of studying social behavior. Forget everything you knew about sociology and psychology; learn everything about economics. It cuts to the root of the matters of interpersonal exchange. Economists may differ in light of favoring the Keynesian model and the Free-Market faith - however; they both at least address the movement of our society.
To better understand this let us take a look into inflation. The majority of people view inflation like a disease. It rushes through like a tidal wave, creating an interesting arrangement of wreckage. Damage is obvious - causes are not. At this point we see everyone pointing their fingers at everyone else. However; when you understand economics, you realize of course that the value of money is more affected by its quantity. You realize that only one institution contains the ultimate power of creating money out of thin air. This is without limit: it is the government-connected central bank.
As an example I take from someone who mentioned this earlier today. It is a readily apparent fact. This is what happens when we stray from in specie (in coins and not in paper money.) This is what happens when you place faith that the government is to have a hand in the invisible hand of markets.
I took this from someone on here but have abbreviated their sn. *Let me know if its ok to use your full sn!
"The price of gasoline and other petroleum products haven't gone up substantially in many years.
The value of the individual unit of currency used to purchase the above products, has been invisibly devalued to the point where we're not appreciably paid more units, but everything costs more units.
In 1900, 1 troy oz of gold = 10 barrels of oil = 20 American dollars. The only part of this that has changed, is that an American dollar is now worth only roughly 2 cents, and falling in geometric progression.
Coincidentally, if you take separate charts depicting the skyrocketing prices of commodities over time, for example: gold, silver, platinum, oil, whatever, and you superimpose them on one another, they will virtually form one single line. If you then flip this chart upside down, you'll have a chart virtually depicting the precise collapse of the dollar due to hyperinflation over time." - sc82
Economics forces our minds to comprehend society. It forces our minds to analyze many different views. We are changed from the ordinary consumer or even producer, to one that views the interests of all consumers and all producers. Instead of the short term we are forced to view the long term. This long term visual aids in spotting the effects of governmental policies. Hazlitt covers this in the first chapter. This book is rather interesting in that it was written 60 years ago and yet, reflects our society ignoring the time differences. It remains a powerful book of which anyone can read.
Commerce being the interpersonal netting of society must be defended. Entrepreneurs are changed to great heroes. Producers have plights. Unions are not necessarily defenders of rights; they are priveleged cartels of which exclude people who need work. Regulations are not for consumer protection. They are cost-raising messes lobbied for by producers attacks on other producers. They are fights carried out by big corporations against smaller private businesses. Antitrust is no longer a safeguard against the excesses of the corporate branches but rather, a bludgeon used by the big players against smarter competitors.
It helps us fit facts into the assemblage of a coherent world theory. The battle is not in court, it is no where near the election polls. The presidency has no hand in it, nor the legislature from which all our free-rides for freedom are damned. The battleground of the economist concerns a domain of existence of which is more powerful in the long run. This domain concerns the ideas of the individual trying to grasp the wheels of the world.
Knowledge is not merely for knowledge's sake. Remember:
"Energy is recognized as the key to all activity on earth. Natural science is the study of the sources and control of natural energy, and social science, theoretically expressed as economics, is the study of the sources and control of social energy." (reprint in Keith, Secret and Suppressed, 203)
Ipsa scientia potestas est. So let us take control of knowledge and wrest it from those who do everything to blind side the public. It is the well-being of society. It is freedom and the flowering of civilization that are at the precipice. The abstract ideas of cause and effect ultimately decide our direction in society.
Liberty is the only true economy.
[...] the ideas of economists and political philosophers, both when they are right and when they are wrong are more powerful than is commonly understood. Indeed the world is ruled by little else. Practical men, who believe themselves to be quite exempt from any intellectual influences, are usually slaves of some defunct economist. [...] I am sure the power of vested interests is vastly exaggerated compared with the gradual encroachment of ideas [...] But soon or late, it is ideas, not vested interests, which are dangerous for good or evil.– John Maynard Keynes
*Keynes, John Maynard. The General Theory of Employment, Interest and Money. New York: Harbinger. 1965.
*art by email@example.com