The (real) Principle of Economics

Rolf. A. F. Witzsche


page 01


So, how does a person go about achieving the goal that must be achieved? I suppose, the first set of questions that should be answered is probably the most natural set of questions a person might have about the principle of economics:

How can I know what this principle is?

How can the principle be distinguished from what is mere opinion? 

The world abounds with people who have strong opinions about economics. How can one 'measure' this principle to determine what is truth? Can we judge truth by its effect?

In order to answer the first question, we need to go to the laboratory. I propose that we take a knife and go together to a grocery store. I will select one of the yellow fruits there, peel off its skin part of the way, and then hand the fruit to you with the statement that this is a banana. I will invite you at this point to take a big byte of the fruit to test its flavor. Finally I will ask you to tell me if my statement, that this yellow fruit is a banana, is a statement of truth.

 

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