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What Is Economics?

In: Action and Choice

Author

Listed:
  • Walter E. Block

    (Loyola University New Orleans)

  • Ivan Jankovic

    (University of Mary)

Abstract

Economics is a science of miracles. By “miracles” we don’t refer to what religious people usually mean by the term – extraordinary events that amaze our imagination and violate the laws of nature – but rather the miraculous nature of some of the most everyday, most mundane and ordinary facts of economic life. Economic theory explains why many things that we take for granted, almost as natural-givens, are nothing but, and represent actually profound and unsettling mysteries that cannot be explained in any other way than by the “dismal science” of economics. This is the field that you, dear reader, are just beginning to learn about.

Suggested Citation

  • Walter E. Block & Ivan Jankovic, 2022. "What Is Economics?," Springer Texts in Business and Economics, in: Action and Choice, chapter 1, pages 1-15, Springer.
    • Handle: RePEc:spr:sptchp:978-981-19-3751-4_1
    DOI: 10.1007/978-981-19-3751-4_1
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