What is Hot Economics?
Economics…both fascinating and, for many, so intimidating a topic, that the term is only mentioned in hushed whispers beneath furrowed brows. Theories and economic law, at an academic level, can help us forecast future economic conditions, brace ourselves for the inevitable highs and lows, and theorize solutions to challenging economic conundrums. However, to make a practical impact, uncovering the relevance of economics in everyday life is key. Simple observations that can impact every day decisions, is the name of the game.
Economics…really…?
For many, economics can seem like a totally out of touch, almost philosophical discipline, but the reality is that you engage in economics every day of your life. Made a recent purchase? It was likely in a competitive ECONOMIC market. Deciding whether to sleep in a few extra minutes or hit the gym? You’re engaging in a cost-benefit analysis, a cornerstone of ECONOMIC decision-making! Ever noticed an errant shopping cart, propped up against a curb at your local grocery store? Why does it matter to you? ECONOMICS, my friend (and more specifically, more wayward shopping carts = more workers chasing them down = generalized increased costs of your favorite goodies …so don’t be a bum, grab that cart and take it back!). Economics is, in short, a wonderful, (mostly) logical field, guided by scientific theory and law, and made up of actively engaged participants. Understanding economics can help you to better navigate this world that is largely driven by capitalism (and, to perhaps do your part to limit price increases at your local grocer!).
I’m not here to provide an academia-level economic analysis, I’m here to provide the everyday person, with some basic economic theories and laws to explain everything that is already happening, every day, all around you…you just need some tools to see the patterns (here’s a hint: it all goes back to the Benjamins, baby!). Because the average Joe, (let’s call him or her, a consumer, from now on) has more power in a single dollar than what you might imagine.
Hot Economics is filled with mostly conversational tips and tidbits to help make sense of that ol’ fuddy-duddy we know as capitalism, which you participate in every. single. day. However, because we are talking about a scientific field, occasionally you may find articles that are a bit on the dry side (listen, it’s no walk in the park trying to make NAFTA riveting, bear with me). Hot Economics offers useful information, practical tools, with real world examples and current events to show economic’s relatable side.
