| Line 67: |
Line 67: |
| | Economics is also special in that it is concerned exclusively with the future rather than the past. For example, the price a good is sold for does not depend on how much it cost in the past, but how much someone will pay for it now or in the future. This is a difficult aspect of economics for students to accept, as other subjects (e.g., history) are primarily about the past rather than the future. | | Economics is also special in that it is concerned exclusively with the future rather than the past. For example, the price a good is sold for does not depend on how much it cost in the past, but how much someone will pay for it now or in the future. This is a difficult aspect of economics for students to accept, as other subjects (e.g., history) are primarily about the past rather than the future. |
| | | | |
| − | Economics provides insights about the true nature of "time". The present is what is most valuable, the future less so, and that past even less still. For each person, the value of the future compared to the present is a function of his or her age. It makes for a young person to plan mostly for the future; it makes less sense for an old person to. When eternity is taken into consideration, it makes the most sense to plan especially for that. | + | Economics provides insights about the true nature of "time". <improve> The present is what is most valuable, the future less so, and that past even less still. For each person, the value of the future compared to the present is a function of his or her age. It makes for a young person to plan mostly for the future; it makes less sense for an old person to. When eternity is taken into consideration, it makes the most sense to plan especially for that. |
| | | | |
| − | Economics also takes into consideration risk, as in the famous aphorism, "a bird in the hand is worth two in the bush." The two birds in the bush may fly away before you can put your hands on them. Again, these insights go far beyond the concept of "money" and extend to many other aspects of the world. | + | Economics also takes account of risk, as in the famous aphorism, "a bird in the hand is worth two in the bush." The two birds in the bush may fly away before you can put your hands on them. Again, these insights go far beyond the concept of "money" and extend to many other aspects of the world. |
| | | | |
| − | Economics is a relatively young subject or field, much younger than history and religion and other topics. There is still many advances to be made in economics, and much more value to be obtained from it. | + | Economics is a relatively young subject or field, only a century or two old, and is much younger than history and religion and other topics. There is still many advances to be made in economics, and much more value to be obtained from it. Perhaps some of the students in this class -- or your teacher -- will discover new economic truths during this course. |
| | + | |
| | + | Economics is the single most likely course (other than a Bible course) to change a student's life for the better, as many former students of this course and similar courses have described. That is not because the student becomes better able to deal with money, although that will likely result. It is because economic truths empower the student to recognize the flaws and fallacies and deceit and unnecessary hardship in life, and look with optimism to the future. Many of Jesus's parables were stated in economic terms, such as the vineyard owner who paid all of his workers the same good wage no matter how long they worked. <cite> |
| | | | |
| | ==More Definitions== | | ==More Definitions== |