Economics is a social science that studies how societies manage their scarce resources to satisfy unlimited wants and needs. Or more plainly, “Economics is a study of mankind in the ordinary business of life”, as the great 19th century economist Alfred Marshall put it in his seminal textbook, Principles of Economics. Therefore, as you might imagine, economics is a pretty broad discipline…
In this blog I will write about the ordinary (and not so ordinary) business of life examined through an economic lens. I hope this is of value to you and other readers with an interest in such things.