Thursday, January 14, 2010

History of Economic Thought Class

One exam down! Not just any exam, this is one of our majors and in a way, one of the most demanding in terms of reading requirements. Our Business Economics 2: History of Economic Thought is over and with it, the endless nights of reading scribbles printed in voluminous papers. I have not really surveyed how my block mates feel about this major but one thing for sure as far as I am concerned, this is one of the most interesting subjects. I should have warned you that history interests me a lot and that is an understatement. So it is not difficult for me to appreciate such a subject. If there is anything this subject has taught me, it is to appreciate the evolution of the human idea towards his material world. If I could just sew the entire history of economic thought and breathe life to it, I could create a living diorama of the entire human civilization from the Old Testament to the Keynesian revolution. The entire subject showed me how man consistently respond or react to an ever-changing consciousness and material environment. Some ideas are born out of anger, others out of a present need. Regardless of the source and differences of these ideas, they all worked together to incubate new ones and that process is in play from the very start of civilization and has become the engine of its development. The world is a living arena of ideas. They are like fighting gladiators whose strength comes from reason and applicability. They outwit each other; they battle each other for the loyalty of the human mind. This is a magnificent spectacle and this is what the history of economic thought showed me.

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