Member 2851
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Immortal since Feb 21, 2011
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I slay sacred cows in my dreams. I cherish truth above all else. Peace Rebel
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    The Axiom of Human Action
    Going to the heart of how we define our interactions as a species, it may be instructive to wash away the distracting and conflicting details of some modern economic teaching, and instead refocus on the most basic, fundamental truths that have proven sound through all time and experience.

    These powerful facts do not demand a degree, or even particularly special training or intellect to "get". They are accessible to all humankind, and can be understood by children.

    Here is one thorough, brief synopsis.

    I believe the word economics has been colored with connotations that it may not deserve.

    Be it math, formalized education, modeling, or what have you, it seems to the laymen that only some voodoo practices, read like tea-leaves via statistical models, will allow true understanding of how it all works.

    That is simply not true.
    All of that is secondary to a few, simple facts.

    Economics is no more than the study of Human Action through exchange.

    That's it.
    It all comes down to this:
    "The law of diminishing marginal utility can be logically deduced from the axiom of human action."

    I feel this knowledge is vital to every mind that seeks to take humanity forward, to ever greater heights.
    Unless we acknowledge and integrate economic facts into our plans, all of our lofty aspirations will ultimately fail for predictable and avoidable economic reasons. I can not stress this enough.

    Working with economic facts will set us on the path to true advancement of purpose, unencumbered by misunderstandings and diversions of true progress.

    Mon, Feb 28, 2011  Permanent link

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