Welcome to Disunomics!
The purpose of Disunomics is to simplify economics and the impact it has on us daily. All of us have witnessed economic reporting on the news and have seen loads of graphs & figures thrown around. A lot of jargon being dashed around and most people just switch off. That is a huge problem. Why? There is no real significance to the general public. The same government policy can affect 5 different sets people in different ways. I like to look at sub categories such as
· Business owners
· High net worth individuals
There are many sub categories of people so it’s important that economic information is specific to these sub categories. You would want to know how inflation going up 3% effects your sub category, your family member’s sub category etc.
I will attempt to highlight how economic factors impact these sub categories whilst detailing how the principles of economics play a part in things most of us care about. The topics will include sport, music, relationships, health and many more.
As a quick induction here is something you must absorb before you continue to follow Disunomics.
I believe everything in life is some sort of transaction. You are friends with someone because they provide you certain characteristics and you in turn trade them for your characteristics. The basis of this is in my opinion the basis of economics ... Incentive
If you ever want to estimate the outcome of a particular government policy or global event just think …
“What will be the best thing for person X or company X to do?”
Incentives are the best way to alter behaviour. For example if tomorrow the head of the company you work for announces “Any employee that comes into work 1 hour before will get awarded £200 extra for that day” how will that impact behaviour? More people will start coming into work earlier!
Disunomics will help to highlight how certain things you may believe will be the cause of popular policies may actual have adverse effects! I will try make the impact as easy to understand and as relatable as possible. Enjoy (well try to pretend to). Thanks!