The Fundamental Flaw in Economics
<p>Last week, I got the joy of watching a dear friend defend his PhD dissertation. Now, like the mother of an honor’s student, I can proudly slap a bumper sticker on my van that reads, “My Old Roommate Is a Doctor of Philosophy in Ecological Economics.” You hear that? <em>Doctor</em>.</p>
<p>My friend is, of course, brilliant, but I must admit, his title is quite stupid. It’s not the Doctor part that bothers me; it’s the rest of it. A Doctor of <em>Ecological</em> <em>Economics</em>? That’s like being a Prince of Carbonized Carbon, a Prophet of Existential Existence. It’s like corn-on-the-cob. <a href="https://www.youtube.com/watch?v=QkljwY84HyI" rel="noopener ugc nofollow" target="_blank">Mitch-all-together</a>.</p>
<p>Economics is the study of how we use and distribute resources, how we turn those resources into goods and use those goods for services.</p>
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