When economics adopted demand and supply theories?
When Economics adopted graphs and maths etc?
When it became an academic?
How then ancient kingdoms all over the world(14th century) maintained economy do they had So called ECONOMIST behind them?
Did they knowledge of inflation or deflation etc and did their people talked all time about ECONOMY?
What is that ancient economy to you,capitalism or socialism?
Is it not possible to maintain a country without So called ECONOMICS(which is studied in universities).IF NO,then how ancient kings maintained good economy?
(ECONOMICS asking here is the academic which contains graph,maths and strange theories)?
Forgive grammer,answer it...
Update:Some people say that it is bogus science like theology?
Do you believe that ECONOMICS Is pseudo science,why not?
Please name some people who are anti-economists and they argue that its bogus science and give their works?
Name some people who hate economics.
.It is just know what is truth that Whether economics is usefull or a bogus study.
Answers & Comments
Verified answer
"when people did" before people formed civilization, economics existed in themselves and by their actions as they moved around the world "fulfilling needs, wants and desires" mostly by being "hunters and gatherers" barbarians and "monkey overlords"
Economics has always been in existence. Basically, economics is the study of using minimum resources and getting the maximum out of them. It's something all humans do(consciously or unconsciously).
Its not something that came recently. Kings had limited currency. They would often take advise from ministers as to where they should use it. In this case, the ministers would make economic analysis and give their opinions. They also did the work of economists but weren't called the same.No kingdom could maintain a good economy. If the king ignores economics, such kingdoms would often collapse or be easy to be invaded by others because of their vulnerable economic positions.
Without economics a country would not make wise decisions regarding money and as a result many would lose their jobs, banks and companies will go broke and the entire country will become chaotic. Ignorance of economics caused "The Great Depression" in 1930s. Read up on it.. you'll come to the the dangers of overlooking economics.
All graphs and mathematical analysis actually make economics easier and more accurate. It will take you longer to make economics decisions and you will end up with poor and inefficient ones. If you take two economists, one who uses mathematical analysis and another who doesn't.. the one who does will make much better decisions. There is a reason they are taught in such a way.. its just proved to be better.
economics is a way to try to understand the complex and uncertain ways in which people exchange goods and services
it is NOT a "hard science" like physics and chemistry that have predictable results
it is more like an opinion like psychiatry
look up Adam Smith, Karl Marx, Maynard Keynes and others
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