Egonomics in One Lesson

Egonomics or Economics. It’s like alchemy vs. physics. They’re not compatible so take your pick. Do you want to be an egonomist or an economist? A single letter makes all the difference in the world.

Source: Egonomics in One Lesson - Foundation for Economic Education

The idea that an individual or a small group of people can centrally manage a large economy is absurd. Yet this is one of main ideas behind socialism and other statist government theories. History is littered with the wreckage of centrally managed economies. Let's not go further down that road.

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