What is Economics ?

Economics is not a science, no matter how many algebraic formulae's you design, it remains an art!

My insight into economics is that its flavour depends on the mood of the day. In other words it is an art but expressed as a science, and represents the collective mood of the people at a particular time.

It is for this reason that demand and supply have always stayed constant, it is just these mainstays of the science, develop a cloak of emotion that is drawn from the collective mood of the day.

At the end of a period of growth certain characteristics are common place within the society of the day, it is these emotions that popularize the theory of the day.

What I am therefore in essence saying, that the theories that have been developed through the centuries are nothing more than a reflection of the "demand" & "supply" of the people at that time.

I therefore think that in order to be a successful economist, one has to first understand the history of the art, and then try and apply the benefits learnt through the ages to fit in with the mood and expectations of the collective society of the day.

Economics, politics, sociology, maths & history are inextricably linked one has to understand them all in order to be a successful economist.