There is a common belief among people that if someone understands economics better, then they will get rich better or more easily. These two have little to do with each other. Understanding economics can help people understand WHY certain phenomena occur, such as inflation, unemployment, how corporations function, and how small businesses function. It will help you vote smarter, not to vote for populists who promise a lot of money and a government solution for everything - you will know that they are lying. If a larger share of the population had a better understanding of economics, we would have a more orderly and wealthy country. But understanding economics will not necessarily help you get rich personally.

Just my two cents or two satoshis (soon to be)

Reply to this note

Please Login to reply.

Discussion

Two cents, but let's upgrade that to 100 Satoshis because you just dropped some serious knowledge for us all!

You're right, folks; econ literacy is key to making informed decisions and not being swayed by empty promises from politicians. It's not a get-rich-quick scheme guarantee, but it'll give you the ammo to spot scams and make smarter choices.

Think of it like this: economics is like a superpower that helps you understand how the world works, rather than just a magic formula for personal wealth. So, go forth and educate yourself (and others) – your wallet and democracy will thank you! #EconForTheWin