Economics in One Lesson, eating an elephant, and Education for Business

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This is the third day that I have been consolidating my blogs. My task for today is to organize the articles I published in Economics in One Lesson, eating an elephant, and Education for Business. After starting the day with a study on Revelation 1:1-8, I now proceed to these blogs.

Economics in One Lesson is also an unfinished project. I have lots of those. One topic will catch my attention and then I will start blogging about it, and along the way, I will lose the motivation to continue. 


In Economics in One Lesson, I published three articles: the Preface, the Lesson, and the Broken Window and the Blessings of Destruction. Let me repeat here what I wrote about the Preface. In that article, I mentioned that the author, Henry Hazlitt, "introduced the nature of the content of the book." There he gave what the readers should expect in reading the book for them to appreciate its significance. My overall assessment of the book, though it was written in 1946, the author's analysis of economic fallacies remains relevant. It appears that since Hazlitt's time, no major breakaway happened from the prevailing economic ideas. Realizing this fact causes me to stop wondering why ideas in the book are not taught in mainstream education. 

Turning to the second article, there we find how Hazlitt summarized economics in just one sentence and the interrelated causes for the perpetuation of economic fallacies. Here's Hazlitt's summary of economics:

"The art of economics consists in looking not merely at the immediate but at the longer effects of any act or policy; it consists in tracing the consequences of that policy not merely for one group but for all groups" (p. 5).
As to the causes for the continuation of economic fallacies, "they include the difficulty of understanding sound economics due to its tight reasoning, the influence of special interest groups, human inclination to see immediate results, the subtlety of professional economists to sell half-truths, the setting aside of common sense in public economics and the refusal to see the long-term effects of a particular economic policy." 


Shifting our attention to the next blog, eating an elephant, this too is an unfinished project. The reason for the title is due to the problem of reading and digesting the enormous size (compared to an elephant) of material that Gary North published since 1973. Imagine, it took him 39 years to complete his 31 volumes of economic commentary on the Bible. Excluding the four separate appendix volumes, the total number of pages is 8,550. You need years of focused attention to complete reading such an impressive accomplishment.  

In this blog, I only published three articles: the Bible and Skeptics, the Bible and the Study of Economics, and Living in a Personal World. 

Now to my last blog for today, Education for Business, I also wrote three articles on entrepreneurship. Instead of making a separate article in my Consolidated Blogs, I decided to just include them in the list of articles I wrote on entrepreneurship. So all in all, I have now nine articles on entrepreneurship. 








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People of Wisdom (Proverbs 1)

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"Wisdom cries  aloud in the street, in the markets she raises her voice; at the head of the noisy streets she cries out; at the entrance of the city gates she speaks" (Proverbs 1:20-21).  Reading verses like the above tells us that the kind of faith taught in the Bible is not something private. This is contrary to what most people think today saying that when you talk about the things of God or matters of religion, you should keep it personally either in your home or in your local church, or you just talk about it during Sunday.  The introductory chapter of the book of Proverbs tells us that wisdom calls in public space. This teaches us that the whole of society cannot escape the call of God. To ignore such call will certainly reap disastrous consequences.  How about if the people of God Himself who supposed to live such wisdom are the ones undermining it? We do this either by disconnecting our faith from our public lives or by consenting to the ruling social norms thinking t
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The Special Duties of Husbands to their Wives

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Fulfill your duties to your wife in order to avoid the following unhappy results: Failure of your wife to fulfill her duties towards you Such will cause you much affliction She will be bitter towards you in the end Summary of your Duties as Christian Husbands: You are responsible to undertake the government of your family including your wife. This ability consists: In holiness and spiritual wisdom. An ungodly, irreligious man is both a stranger and an enemy to the most important part of family-government. In due acquaintance with the works of your calling. He that is utterly unacquainted with the members of his family, will be very unfit to govern them. He must be acquainted both with the common temper and infirmities of mankind, that he may know how much is to be borne with, and also with the particular temper, and faults, and virtues of those whom he is to govern. And he must have prudence to give them direction in accomplishing their tasks; and justice to deal with every one as they
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Ownership

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The first chapter is all about ownership. By discussing this topic, the author starts with the doctrine of creation. For him, this doctrine separates his approach from all other approaches by other economists. By insisting on the importance of the doctrine of creation to economics, he argues that the universe, man, economic laws, and economic growth are not autonomous. The doctrine of creation establishes the idea of original ownership , which belongs to God alone as explicitly stated in Psalm 24:1–2 and many other biblical passages. And since it is God who created the world, He is therefore the original and absolute Owner of everything. The idea therefore of ownership is basically theocentric. This tells us that the economic concept of ownership is ultimately a theological idea. The concept of ownership cannot be properly understood apart from God as the ultimate Owner of all things. Providence is another corollary doctrine that cannot be separated from the doctrine of creation. Thi
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