Hello! Welcome to The Economic Problem.
Firstly, for those of you hoping to have stumbled upon a high-brow, intellectual sort of blog, I’m sorry to disappoint…this probably isn’t what you were looking for.
What I can say is that this is more of a log of general observations about the world around us…in essence what (I think) the world is really about.
Now, if you’re an economist/interested in economics then I guess you already know what ‘the economic problem‘ is.
To those who aren’t…well doesn’t it sound absolutely fascinating and mysterious and ‘oh so complex’.
But it’s not. It’s as simple as the tagline:
‘Limited Resources, Unlimited Desires’ ….what to do?!
(If you prefer the more technical speak, we’re could talk about ‘scarcity’ and ‘trade-offs’…but we’ll get to that kettle of fish later.)
Now I don’t pretend to be an expert. I am just a humble student of economics…still learning about all the (weird and wonderful) ins and outs of the subject, so everything here is all subjective and probably slightly naive.
Nevertheless, sharing one’s thoughts with you presents the opportunity to try to explain certain phenomena(as concisely and simply as possible) and vice versa to get feedback from you, the reader, and in turn perhaps learn something myself along the way.
So here’s to the puzzle that is life…and therefore hopefully, the inspiration of many more posts.
And if you are reading this, then I must thank you (and congratulate myself) for going even this far.
I hope you’ll stick around.