Economics on the Quick


No field of study generates more heated debate than economics. Quickly learning economics is a task of much weight and will aid you everyday. Making things even more confusion is that so many branches exist with wildly varied thoughts and views. 

Art or Science

Douglas Rushkoff once wrote of how economics is NOT a science. This sentiment has become more widespread as economics has attempted to prove itself a credible and useful science. Rapid development of ideas has often outstripped testing of those ideas to the point where entireWealthofNations branches reject scientific testing  in favor of reasoning and logic. Further, in trying to gain credibility, banks created prizes to attempt to promote the legitimacy of their preferred economist. This struggle for identification as a legitimate part of our society goes on to this day. 

The "Nobel Prize"

To date it is easy to count how many economist have won a Nobel Prize. Zero.

No economist has ever won a Nobel Prize.

Alfred Nobel did not consider Economics important enough to create a prize.

So who are these "Nobel Prize" economist.

The Bank of Sweden

In trying to bolster economics as a "science" the central bank of Sweden created an award. The Sveriges Riksbank Prize in Economic Sciences in Memory of Alfred Nobel. This is an important distinction as one quickly realizes that economics truly is more than just markets and numbers.

Enter the "Political Economics"

KeynesEconomics had the name "political economics". This was due to its strong ties to politics. Each branch of American politics has their favorite schools and approaches. The left has Keynes while the right often adheres to the Chicago School. Still, these different approaches did not develop overnight and are the result of decades of evolution involving other schools and ideas.

The Basics

To learn economics quickly one must first understand such concepts as "Supply/Demand", "Value" and "Markets". These general ideas required rapid absorbing as much of what different schools of economics believes rests on differences in perceptions due to these two topics. Even the most simple of concepts has proven difficult to define.