Thursday, 28 May 2009

Defintion of economics

Matt Nolan over at TVHE has posted a number of times on the definition of economics, see for example here and here. Well the following is the quote that Tyler Cowen and Alex Tabarrok will use as the epigraph in their new textbook:
Economics is the study of how to get the most out of life
Looks like a good a definition as you are likely to get.


Matt Nolan said...

With that definition I would say everyone is an economist - of course that is what I generally say anyway :)

Paul Walker said...

If they aren't, they should be.