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Monday, March 14, 2011

Various meanings of 'Economics'

Economics is a broadly defined term.  It means different things to different people based primarily on one's financial position or environmental circumstances at a given moment.  So what exactly does economics mean to different people- let's take a look at some examples:

Economics means...

To a working person, economics is a means of generating income via a job to pay bills and pay down debts before high interest rates engulf them

To a nonworking person, it is means letting prospective employers know you're willing to work much longer and harder than what you'll receive as salary just to have the means to eat.

To a person retired from working, it means stretching every penny to survive until the next Social Security check arrives

To university academics, economics is theory and conjecture; its endless debates on Adam Smith and Karl Marx over a cup of Darjeeling tea.

To university Presidents, it is the catalyst to brown-nose state senators, local investors and Board of Regents to beg for more money.

To university students, it is like a clock of perpetual debt via student loans that never ceases to end ticking while obtaining degrees in worthlessness.

To a Japanese everyday person, economics means the cost of rebuilding their lives from scratch

To a Japanese banker, it means the cost to rebuild their shaken portfolios.

To a foreign banker, it means endless opportunities to profit off the suffering.

To a lower class person, economics means struggling to save enough to put a down payment on a used car.

To a middle class person, it means struggling to save enough to put a down payment on a new car

To a wealthy person, it means getting new cars in both black and red because its just too darn difficult to choose a color.

To an NFL owner, economics means publicly portraying themselves as losing money even though privately they are not

To an NFL player, it means fighting to collectively giving back a billion dollars to the owners solely based on their word they are losing money

To an NFL fan, it means budgeting how much to hand over to the NFL in season tickets, stadium seat fees, parking, concessions and merchandise once the lockout is over.

To the average person economics is boring

To the financial markets zealot, it is exciting

To the professional investor, it is an emotionless game.

And in the grand scheme of existence and true meaning of life...

Economics is meaningless

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