[Rury]

I think some people need to step back and ponder what's the purpose of economics? Why do we even study it? What are we hoping to achieve in analyzing it?

I can only think it began with the philosophy for making better decisions, solving problems, and improving society - particularly in the allocation of its resources.

As so, I think a huge part of the problem with economics, including most economists, is that people equate value for wealth. Value certainly is subjective, I mean, do you value having $80k, or a nice car? How about a pool, or a boat? Do you value your time less than the cost of a flight? All very subjective. But I think it's flawed to conflate value for wealth. Wealth is something real, the things you are evaluating in trade. Time is wealth. Money is wealth. Oil is wealth. Land is wealth. Why don't we simply measure these things, and how they're allocated? IMO, it seems more practical and more noble of pursuit to figuring out if someone actually needs food in society, rather than what people with plenty of resources ascribe their values to.

[foota]

Economics has two broad disciplinces, micro and macro economics. Macro economics is for if you're trying to plan or consider the economy, micro economics is if you want to understand a business or person and how it makes decisions etc.,. Broadly, there's also normative and positive economics. Normative economics is stating opinions about what's right (e.g,. there should be a minimum wage so that no one can be paid less than X for their work) whereas positive economics is about facts (e.g., if you raise the price of something, you'll generally sell less of it).

Anyway, idk if that's useful. I'd say though, economists don't really need to care about what people value, except to the extent that they can e.g,. learn about what people value by observing their behavior, or use how they ascribe value to something to predict their behavior. That is to say, "real" economists _do_ study allocations of physical resources etc., don't think they just try to model some theoretical value function :)

[jazzyjackson]

  You’ll find that money is noise, this, us, together, is wealth
  The body’s just cosines and vectors, love is the real health

Dog with Rabbit in Mouth, Unharmed, Beauty Pill

https://youtu.be/0GENOl4sbiE

[adampwells]

"The purpose of economics is to make astrology look respectable!"