Human Action

I think I should start this off by introducing to you the way I think, how I see things and how I used to see things. After graduating from college this last spring, I felt like I was illuminated. I was able to learn about Austrian Economics and it seemed like the world was turned on its head. I didn't realize then, but I used to be very ignorant in my analysis of everyday scenarios, I would rarely try to look at both sides of an argument. I would simply take a side and not see another point of view. From learning about Economics and the behavior of people, I was able to see not only people's action, but why they act the way they do. I could now see why Electric Companies, Water Utilities, Gas etc. charge the prices they do and provide the poor customer service they do. I see the same thing with Cable TV. Those are just the fine tip of the iceberg. Now that I've discovered Economics, I can see why these things happen. It's a very interesting world when it's looked through several points of view. I think I've found that I've been wrong on my first impression more than I thought. Remember, just because a story is easy to swallow doesn't make it true:

Simply stated, there is no doubt that Saddam Hussein now has weapons of mass destruction. There is no doubt he is amassing them to use against our friends, against our allies, and against us. And there is no doubt that his aggressive regional ambitions will lead him into future confrontations with his neighbors -- confrontations that will involve both the weapons he has today, and the ones he will continue to develop with his oil wealth.-Dick Cheney, August 26, 2002.

-But economics is a jealous mistress, and you ignore her at your peril. -Jagdish N. Bhagwati -