To understand economics, understand the psychology of people. Never mind supply and demand, it all comes down to what people want and need. Which can be listed broadly as follows: food and drink, health and security, shelter and transport, challenge and adventure and entertainment and sex.

This was the case hundreds of years ago and is likely to be so hundreds of years from now.

But, beyond all that, people will spend an absolute fortune searching for love and happiness. That is serious currency.

But, because you cannot buy love and happiness, the main currency that people actually deal in is disappointment, disenchantment and regret.

And insanity. As no matter how often they are disappointed, disenchanted and regretful, they still completely buy into all this nonsense.


What “Economy” actually stands for is “He Con Me” (credit Michael Brown Still, if people allow themselves to be conned, time and time again, can you blame people for conning them?

It’s not about “blame”. Just the recognition that your conscience will get you, sooner or later. And the more people you con, the worse it will be for you.

There is no satisfaction in conning people. There is no fulfillment in conning people. There is no joy in conning people. There is no peace or harmony in conning people.

That is all you are missing out on. That is all.


I could go into much greater depth here. But that is the problem with economics – everyone has over-analysed it to the point that it has gotten so complicated. The simple fact is that no one knows what is going on, really. And all your clever theories and clever hypothesis cannot disguise the fact that you haven’t got a clue with is going to happen tomorrow, next week, next year.

And, because you hate the fact that you are so completely in the dark, you concoct all these stories about how you need to cut taxes, raise public spending, raise borrowing, lower interest rates, raise taxes, lower public spending, when you have no idea the effect of any of these decisions until after you have enacted them.

But, hey, never mind that. Just sound like you know what you’re doing …

Ultimately, though, no matter what the economic situation is like, it is all very, very simple: you be of value, you be of service, and you will always be in demand. It really is as simple as that.

© Phillip A. Klein March 2008

Published in: on March 13, 2008 at 5:57 pm  Leave a Comment