Exhausted from Economics?

25 Jun

Words of Encouragement for the Exhausted Economics Student


“I would add one word for any student beginning economic study who may be discouraged by the severity of the effort which the study, as he will find it exemplified here, seems to require of him. The complicated analyses which economists endeavour to carry through are not mere gymnastic. They are instruments for the bettering of human life. The misery and squalor that surround us, the injurious luxury of some wealthy families, the terrible uncertainty overshadowing many families of the poor—these are evils too plain to be ignored. By the knowledge that our science seeks it is possible that they may be restrained. Out of the darkness light! To search for it is the task, to find it perhaps the prize, which the “dismal science of Political Economy” offers to those who face its discipline.” – Arthur Cecil Pigou, from his book Economics of Welfare

P.S. He’s the guy behind the Pigovian Tax. And now in the wake of the Global Financial Crisis and Global Warming, his ideas are a hot topic among economists again. To know more about him, click here.

source: http://www.firstprinciplesjournal.com/articles.aspx?article=1268&loc=fs

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