The Iron Laws of Economics: An exploration of the do's and dont's of economics.

Tags: Economics, Labour economics, Minimum wage

On "Iron Laws" of Economics.

ABSTRACT: 1. A strong interest shown by modern society to the sphere of economic attitudes, and connected to it the growing authority of the economists. - 2. Perception about the "iron" laws of economics as highest criteria of economic activity and life in general (economic fatalism). - 3. An exploration of the most widespread motives of housekeeping: struggle for a survival, earning one's "life", earning on "the black day". - 4. Logical "circumvention" of all these motives confirmed by the daily facts. - 5. Managing for the sake of managing - professions for amateurs. - 6. Narrowing the sphere of action of the economic "laws" from "all" to "wishing". - 7. Optionality of the "iron laws" of economy, even for those wishing to be engaged in it. (with examples). Dependence of economy on ethics and psychology. - 8. The essence of the moderate fatalism, its incompleteness and discrepancy. - 9. Economics as a game, initiated and regulated by the government. Decreasing of the status of economic game with the eldering of the population. - 10. Inevitability of occurrence of "shadow" sector in economy, which considers as its basic purpose the obtaining of the profit. 11. A dilemma rising before any man without preconception: to admit economy to be a "dirty business", fun for the adults, or to search for the "third" way, which... 12. ...on my sight, consists of returning to the initial sense of the word: economics-a reasonable running of an economy, or keeping house keeping) - 13. The elementary analysis of this definition. - 14. The task of philosophy of economics in the given context. - 15. Concept of "organic economics" demanded by real life, instead of the obsolete, and diminishing influence of the exclusively mechanical approach. Universal character of this concept.

"Economics is a special world, with it's own laws and problems, dramas and contradictions" -- The textbook "Modern Economics"

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