What I like about the study of economics is that literally everything is of interest and has an impact. Religion, politics, science, medicine, the weather and social factors are all grist for the economist’s mill.
The Jeff Goldblum character in the movie Jurassic Park talks about Chaos Theory and how a butterfly stretching its wings in Central Park sends ripple effects around the world. Economists have always known this.
During the course of my working life, which started in the 1970s, there has never been a more interesting or challenging time to be in the economics game than now. Economists can react to events on the spot and get their message out to the broad world virtually instantaneously – witness this blog entry.
At the same time, however, it has to be admitted that the pace and volume of information flow does present problems in processing. There is just so much material to access and study. How can one keep up with everything that is going on, or even the most significant developments? Furthermore, events are only going to move faster in the future.
On the other hand, maybe this has always seemed to be the case in the eyes of those living in the moment. Earlier generations asked the same questions. There was a book written several decades ago (by Charol Messenger), later turned into a movie, which seemed to capture the dilemma in its title. While the subject matter of the book may not be completely in keeping with the theme of my little article, the phrase, I’m Dancing as Fast as I Can, does convey the angst of our times.
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