by Ken Matesz
Most people today have never had any education in economics.
The result is that too many think that economics is the study of money and investments.
Nothing could be further from the truth.
Economics is the study of why people do or do not take action. It is the study of how people manage their lives. In fact, the word “economic” comes from a Greek word meaning “household management.”
That’s it! That is all that economics is about: Human action.
Money just happens to be something we use to represent either labor (actions we take) or property (things we might want).