Iosif Lvov

On the Simple Sense of Economics: What is Life? Iosif Lvov

Contemporary representatives of economic science are fond of emphasizing absolute inevitability of voluminous character of their theoretical works by which many are frightened, frequently using the following words of their great colleague Alfred Marshall as an epigraph to them: ?Any brief summary of economic ideas leads to delusion (excluding, perhaps, this statement of mine)?. We, however, are going to prove the opposite ? the main theses of the fundamental economic theory proper can be presented on a few pages, since the original basic nature of economics is surprisingly simple.