Monday, July 8, 2013

What is economics?

Ano nga ba ang economics?

Salamat sa nagtanong at eto yong naipon kong sagot:

Sabi sa, "There's no one universally accepted answer to the question 'What is economics?' " Pero kahit ganito situwasyon, pag may exam daw, eto isasagot ng writer sa tanong, "Economics is the study of how individuals and groups make decisions with limited resources as to best satisfy their wants, needs, and desires".

Sa mga historic economic textbooks naman:

1. "Economics is the study of people in the ordinary business of life."
( Alfred Marshall, Principles of economics; an introductory volume, 1890)

2. "Economics is the science which studies human behavior as a relationship between given ends and scarce means which have alternative uses."
(Lionel Robbins, An Essay on the Nature and Significance of Economic Science, 1932)

3. Economics is the "study of how societies use scarce resources to produce valuable commodities and distribute them among different people."
( Paul A. Samuelson, Economics, 1948)

Halos ganon din ang kahulugan sa Investopedia:

"A social science that studies how individuals, governments, firms and nations make choices on allocating scarce resources to satisfy their unlimited wants." Nagbigay lang ng distinction between macro (economics of governments) and micro (economics of individuals) and between two major approaches: keynesian (advocating govt. intervention) and classical (laissez faire). 

Ang Austrian school ay nasa linya ng classical. Sinundan ni Shawn Ritenour ang pagkaunawa ni Mises sa economics :

"Mises, on the other hand, takes a radically different approach. Mises recognized that ECONOMIC ACTIVITY WAS THE RESULT OF PURPOSEFUL CHOICES MADE BY INDIVIDUALS: a foundation of economics that fits very nicely a Christian understanding of the nature of acting man."

At tungkol sa kaniyang aklat, ito ang kaniyang mga sinabi:

"In Foundations of Economics, I provide a Christian justification for economics as a discipline, and show how certain relevant Christian doctrines impact both how we do economic analysis and how we analyze economic policy. ECONOMICS IS IMPORTANT BECAUSE OF THE CULTURAL MANDATE. It is really about how humans act to solve one of mankind's greatest dilemmas: how do we fulfill our commission to work, fill, rule, and keep creation in a fallen world of aggravated scarcity without either starving to death or killing one another?"

"It is my hope that thoughtful readers of my book will see a bit of the glory of God through a basic understanding of how economic law regulates the working of a market economy. Such an understanding should promote the contemplation of the beautiful way that the various interests of vast numbers of people can harmonize in PEACEFULLY FULFILLING THE CULTURAL MANDATE. And such contemplation should, in turn, call forth doxology. As the Psalmist says, 'All your works shall give thanks to you, O Lord, and all your saints shall bless you!' "