The Joy of Economics
To understand economics, we first have to ask ourselves what is economics?
Economics is a social science concerned with the production, distribution, and consumption of goods and services. It studies how individuals, businesses, governments, and nations make choices about how to allocate resources. As Charity-Joy Acchiardo has said in a previous interview, it is not all about Wall Street and finance. "Money I think is probably the number one thing people associate with economics." However, there is more to economics than the financial aspect.
One of Charity-Joy's favorite economic fields is behavioral economics. It's a combination of economics and psychology. It studies the biases, tendencies and heuristics that affect the decisions people make to supersede traditional economic theory, which assumes that all people are both rational and selfish, though that's often not the case. It aids in determining whether people make good or bad choices (optimal vs suboptimal) and if they could be helped to make better choices.
Charity-Joy is inspired by the work of Adam Smith, the economist and philosopher. Adam Smith is known as "The Father of Economics" and his book, An Inquiry into the Nature and Causes of the Wealth of Nations, is influential and significant to economists. His ideas in these works helped develop the foundation of political economics. He believed that markets tend to work best without outside influences (invisible hand theory). Charity-Joy may buy Adam Smith bobbleheads at swap meets, I don't know. Okay, she really doesn't. It was just an example. Or was it?
Government collapsing? Zombies hunting you down?
Everyone you know killed by a global epidemic?
Not to worry! Economics holds the keys to survival.
It is not a depressing read like it may sound. It's a very interesting and fun introduction to economics suitable for general audiences and for economists as well.
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