All economists that are clever and excellent in science in economics, know that economics is about alternatives and scarce resources that we can use, and these scarcity is among capital, labour and landscapes. We should know things that are happening, and we should use our competence to understand economic affairs. And everybody knows something about economics, since it is a daily affair for manyy people. But we need competence to give the best advice!
Economics can give you learning about how to be wise and how to be rich. And that is the main philosophy of life, if we are neglecting the religions and all the things inside us and outside us that have some explanations and science about what is going on! Economists should be educated at the best schools in Norway or the best schools abroad. And not everybody can give advice in Economics, since they do not have the competence for the business schools. But we all know that life is about revenues and treating the costs about how much life implies to live! We know these things from personal economics in households and in firms, and we should be given power by having education at the highest level, and also education with long duration!
Social economics is social, and that means the social aspects and how we are humans in relation to each other have consequences as economic affairs. Many people know that economics is about money, but the monetary analysis from William Sharpe and Milton Friedman, is not always the most important things in economics, since it is real economics and real exchanges that impact the relations that are going on. We should understand the life as being all the possible exchanges that are going on, and this is both physical and mental efforts, and all things in sciences is about explaining the life and the environments.
Social economics is about private and public affairs, and it is about understanding the restrictions that we have in resources like capital, labour and landscape. All scarce resources have their dual prices or shadow prices, and when we choose to do something we ignore to do other things, and this means that everything we are doing in life has a shadow price, and that when we select to do something, we are losing doing other things. Hence, life is a competition about what to do, and that when we do something, we cannot do all things, and being all places at the same time.
Public Economics is about pecunitary effects, and that means that when people are doing something among producer and consumer, we can have the following effects, and we can calculate them exactly when putting up the right figures. and this should not be a guessing contest but it should be correct. The producers can affect the consumers, the consumers can affect the producers, the producer can affect other producers, and the consumer can affect other consumers.
We should have courses in all incidents that are going on in Social Economics, and this is about explaining about what is going on privately and in organizations and in public affairs. The most important in Social Economics is the general budget equation, and this is: R + B = Ip + Cp +G + A, where R is the net national product, B is import, Ip is private investments, Cp is private consumption, G is public money and expenditures, and A is export.
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