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Economics is easy to understand – a ten-year-old explains

September 16, 2013

Think Left

During the 2010 election campaign I heard the Sun columnist Kelvin Mackenzie talking about economics.

Economics is very complicated,” he said. “You have to be a genius to understand economics.”

This is not true. Economics is easy to understand. Wealth comes from human beings. It’s as simple as that. It comes from human beings engaging with nature in an intelligent and productive way in order to make all of the things we want and need. It is work that makes wealth. This is so obvious an observation that it hardly needs commenting upon. All of the classical economists understood it: Adam Smith and John Stuart Mill, as well as Karl Marx.

The reason that modern economics has become so complex is that it has attempted to obscure this simple fact behind a fog of distraction in order to hide the processes by which a very few people…

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