Tuesday, June 30, 2009

Credentials

I graduated from Colorado State University in May of 2008 with my Bachelor's degree in Economics.

While I admit that CSU is not the most prestigious school, and a bachelors degree is nowhere near the PhD that's generally required for an economist to make any sort of influential impact within the field, I have two things that many higher educated economists don't; common sense and compassion.

The first thing I wish to critique about the field of economics is the most central tenant and the generally accepted definition of economics: the study of choices in conditions of scarcity. So the primary assumption in economics is scarcity. Now I'm not making an outlandish claim that if you have five widgets, you actually have infinity, or that one person has unlimited time to do many things at once; these limits are simply material realities.
The point that I'm arguing here is that scarcity is not inevitable, the accepted beliefs that some must starve so others can feast or some must live in poverty so others can have luxury are incorrect, in fact, prosperity for all means that society as a whole is a happier, safer place, and leaves room for greater luxury for many. Greater luxury results from greater resources being allocated from subsistence (which despite popular belief is the modus operandi for most) to ingenuity.

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