Economics
“The first lesson of economics is scarcity: There is never enough of anything to satisfy all those who want it. The first lesson of politics is to disregard the first lesson of economics.”
– Thomas Sowell
Human beings came to this world with nothing. We gathered food and then learnt to hunt animals, lived on trees or in caves and roamed naked. Despite all the natural resources we lived a short and poor life and died when we became sick. Everything we use today, is a product of someone’s effort, creation of a free human mind. Knowledge is the only wealth and freedom is our greatest resource.
We can not survive in this world except by using our minds, and without the freedom to use and keep what we produce we will perish. This freedom is synonymous with the right to life itself. If I want something that someone else has produced then I must pay it’s price by producing something else of equal value.
This is the essence of Economics and morality. We aim to study Economics with the focus on human freedom, prosperity, and morality that is the bedrock of human civilization.
Resources and recommended readings
Basic Economics Book by- Thomas Sowell
Basic Economics is a citizen’s guide to economics, written for those who want to understand how the economy works but have no interest in jargon or equations.
Economics in One Lesson Book by- Henry Hazlitt
Considered among the leading economic thinkers of the “Austrian School,” which includes Carl Menger, Ludwig von Mises, Friedrich (F.A.) Hayek, and others.
Wealth and Poverty Book by- George Gilder
Now, in this new and completely updated edition of Wealth and Poverty, Gilder compares America’s current economic challenges with her past economic
Life After Capitalism Book by- George Gilder
For more than two hundred years, capitalism spread wealth around the globe, bringing unprecedented prosperity and progress, liberating human potentia
Capitalism and Freedom Book by- Milton Friedman
How can we benefit from the promise of government while avoiding the threat it poses to individual freedom? In this classic book.
Wealth, Poverty and Politic Book by- Thomas Sowell
In Wealth, Poverty, and Politics, Thomas Sowell, one of the foremost conservative public intellectuals in this country.
Human Actions Book by- Ludwig Von Mises
History might record that this edition is the one that changed the world. Mises’s fantastic and timeless treatise has never been in a more portable, giftable edition.
The Wealth of Nations Book by- Adam Smith
The groundbreaking ideas and principles of modern economics in The Wealth of Nations by Adam Smith. This seminal work examines the wealth creation.
Factfulness - Hans Rosling, Ola Rosling, Anna Rosling Rönnlund
The Worldly Philosophers - Robert Heilbroner
Reinventing the Bazaar - John McMillan
The 10 Rules of Successful Nations - Ruchir Sharma
Economics Rules: The Rights and Wrongs of the Dismal Science - Dani Rodrik
Uma Kapila, ed. (2024) Indian Economy Since Independence. 35th Edition.
Ashok K. Lahiri (2022) 5 in Search of Glory
