How to Tell if a Politician is Economically Literate (feat. Per Bylund, Ph.D.)

by | Aug 30, 2022

Core to understanding the economy is recognizing that it is about human actions and interactions. In fact, the economy is people acting and interacting. It is little or nothing else. We tend to think of the economy in terms of resources, machines, businesses, and perhaps jobs. But that is a simplification that is misleading. Those are important, but they are all means to ends. The economy is about using means to attain ends. To put it differently, it is how we act to satisfy our wants, to make us better off . Simply put, the economy is about creating value.

– Per Bylund, How to Think About the Economy: A Primer (p. 15)

Per Bylund, PhD, is a Fellow of the Mises Institute and Associate Professor of Entrepreneurship & Records-Johnston Professor of Free Enterprise in the School of Entrepreneurship in the Spears School of Business at Oklahoma State University, and an Associate Fellow of the Ratio Institute in Stockholm.





About Keith Knight

Keith Knight is Managing Editor at the Libertarian Institute, host of the Don't Tread on Anyone podcast and editor of The Voluntaryist Handbook: A Collection of Essays, Excerpts, and Quotes.

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