Today, I take my Economics final. These are the two only concepts I plan to carry with me from that class:
Opportunity cost: Your next best option, what you’re giving up when you make a decision. I think about this a lot now. My time is limited. Where am I investing it?
Scarcity: Our wants are bigger than our ability to satisfy them. Whoa. I can’t help but think of a C.S. Lewis quote: “It would seem that Our Lord finds our desires not too strong, but too weak. We are half-hearted creatures, fooling about with drink and sex and ambition when infinite joy is offered us, like an ignorant child who wants to go on making mud pies in a slum because he cannot imagine what is meant by the offer of a holiday at the sea. We are far too easily pleased.” The truth is, we can’t can’t satisfy our desires. That’s why there so large. We were created to be satisfied in Christ.
That, dear friends, is the only useful knowledge you will learn from economics. Thoughts?
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P.S. I have a penchant for bridge pictures this week. This one is a picture of Canada taken from Detroit. Trade… Economics… See what I did there?