Hello, In English literature there are probably a few individuals more despicable than Mr. Scrooge.  On a personal level, he probably was a mean-spirited miser. But, as far as society is concerned, he and his ilk did more to raise societal living standards than all the charitable giving combined. It was the Industrial Revolution that finally started to raise both living standards and longevity.  For example, in 16th century London the average life span was no longer than it was in ancient Rome. Like any new enterprise, the Industrial Revolution needed money (capital) to blossom.  It was people like...

Hello, Many people shy away from economics just like they avoided alegbra in high school.  Actually, the definition of economics is very simple. Economics is the study of human behavior in its historical setting.  In other words, economics is psychology.  This is the classical definition of economics.  The first economists where philosophers.  They studied human behavior not some formulas on how people might react. Throughout the ages human behavior hasn’t changed much.  This is why we have and will have economic periods of boom and bust.  The business cycle will always be here.  Your...