We've got news for you.

Register on BusinessLIVE at no cost to receive newsletters, read exclusive articles & more.
Register now

When it comes to “thinking like an economist”, the usual ideas are about supply and demand, prices and incentives, and opportunity cost. That is all well and fine, but there is another important yet neglected component of the economic way of thinking: an intuitive understanding of the size of gross domestic product, and a preference for assessing magnitudes as a fraction of GDP.

While economics has a reputation for being pessimistic (“the dismal science”), most economists I know are pretty optimistic, and tend to see most systems as being robust...

BL Premium

This article is reserved for our subscribers.

A subscription helps you enjoy the best of our business content every day along with benefits such as articles from our international business news partners; ProfileData financial data; and digital access to the Sunday Times and Sunday Times Daily.

Already subscribed? Simply sign in below.

Questions or problems? Email helpdesk@businesslive.co.za or call 0860 52 52 00. Got a subscription voucher? Redeem it now

Would you like to comment on this article?
Register (it's quick and free) or sign in now.

Speech Bubbles

Please read our Comment Policy before commenting.

Commenting is subject to our house rules.