Classical Liberalism Homeschool Textbook For Macro And Micro Economics.

Whatever the age of the person, when the curiosity arises or the need emerges to further one’s understanding about how the economy works naturally there is now a textbook that explains exactly that. The economy is not a plaything to be used by ego-driven interventionists but rather it is a beautiful, powerful, and dynamic part of human civilization that is a manifestation of human cooperation.

What is truly unique about “Macro & Micro Economics Renewed” is the causal-realistic model at its core. The model fully embraces the subjective nature of humans at both the macro and micro level.

Each chapter fits together as an overarching story and each chapter ends with thought-provoking questions.

The end result will be a great love for and knowledge of the economy and of its agents –magnificent human beings – and an irrepressible desire to eliminate all statism.

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Stop The Destruction Of The Ecology Of Human Social Cooperation!

It is known that humans disrupt the ecology of the forest and it is generally a known fact that the powerful equilibrium forces re-establish the process of ecological balance. No one in their right mind would think that disruption should be continuous and cumulatively more and more invasive and destructive of the ecology. Who could be so ignorant of the negative consequences?

The same exact effect occurs with the economy. The market process is driven by powerful equilibrium forces. Property rights are like the forest soil which is a key  determinant of the potential of the forest. If the soil is disturbed and eroded the magnificence of the original forest may never or only in the very far distance be ever able to return to its full potential.

The ego-driven interventionists are ignorant of their destructiveness of the economy and of negative impact of their continual disruption of the equilibrium forces. In these – the Dark Ages of economics – people have been indoctrinated in the statist ideology and so they foolishly and simply sit back and watch as the ecology of human social cooperation (the economy) is being destroyed by the ego-driven interventionists.

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Humans Are Competitive By Nature And Therefore Choose Cooperation!

The dualism of the human being cannot be denied nor can it be abrogated. Implied in the concept of dualism is competition, there are always at least two pathways, two choices competing for the actor’s action. The higher the consciousness about the essence of humanity the more refined and active the competition. And since humans are social beings, cooperation is the highest form of competition for achieving the pathway chosen.

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The Educated Guesses And Risks Of The Entrepreneur.

With the goal being to successfully sell the product; all the costs incurred by the entrepreneur are for this purpose. This differs from ‘pure’ arbitrage in that input prices attributed to resource ownership precede output sales. In this production process the entrepreneur ‘guesses’ that the future product price – the market price or the selling price – is not fully synchronized with today’s input prices. It is an educated guess, a risk, since the product prices do not exist at the time production begins. If the assessment proves true, this is what causes profits to emerge since the astute entrepreneur will have judged the future prices correctly across the time horizon.

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Contractual Societies’ Foundation: Formal And Informal Trustworthiness.

There is an undeniable and incomparable value of trustworthiness in any and all contracts. Contracts are nonsensical without the existence of trustworthiness. So basic is trustworthiness that not only contracts but social cooperation and civilization depend on it.

Contracts represent a formalization of the trust between parties for the purpose of reducing uncertainty and the contract itself is a formal agreement about the knowledge that both parties share. It is expected – trusted – that the terms (the common knowledge) of the contract will be faithfully fulfilled and the result will significantly increase the certainty of the outcome. Of course a contract can be catallactic like it is in commerce or it can be of the law. These are likely quite formal.

But equally as important and potent is the value of informal trustworthiness as the foundation of contractual societies. Consider the magnificence of trustworthiness as the hallmark of an ethical society. Indeed, one has to wonder if there can be an ethical society even in relative terms if the level of trustworthiness is questionable.

Societies with different degrees of trustworthiness can and do exist at the same time and even in the same space. For example, the imposition of statism on an ethical society creates conflicting formal and informal types of trustworthiness: 1). the statists perverting formal contracts throughout society and 2). the statists not being held accountable in many of the informal expectations that fall in what can be considered the realm of normal trustworthiness, one obvious example, the lies of politicians.

Yet at the same time, thankfully, a society that operates according to formal and informal trustworthiness breathes contractual life into the productive, and these productive elements advance civilization. The shame in these – the Dark Ages of economics – is the relative deprivation caused by the barbarism of untrustworthiness.

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