Friday, August 30, 2013

Natural talents and economics: Dreams make the difference

Economics is a science which quite different to others, such as Physics and Chemistry, do need people to make its case. Economics deals with the improvement of welfare level of a community ,counting on every one´s talent and abilities , more so whether we consider that such improvement, has to be achieved with scarce resources . Thus, people abilities and talents ,compensate for others resources scarcity . The new approaches of economic development and growth, stress the role of endogenous factors such innovation, creativity and all of those forces linked to motivation, compromise, character and attitude. This means that economics do not rule out, and cannot rule out, the contribution of anybody. It widen the boundaries of the production frontiers The only resources which is supposedly available with no restriction whatsoever, are the individual talents. Julian Simon(1932-1998), believed that population growth was a source of those talents . The innovations flows, come from individual minds, the quality of education, the family values and the external factors , which set up the conditions for creativity and inspiration . Without this flows, it would not be possible to solve the scarcity constraint. Malthus propositions , (over population growth and food supply restriction), were overcome because of these factors , just like the current global warming threat , is going to be solved because of individuals abilities to overcome challenges , when they are pushed at its most. Talented people make the difference in economics, to make it more humane, and closer to everyone needs and expectations. Economics need the individual talents .as its main source to boost the engines of wealth creation. Going deeper into the argument, dreams also count. Dreamers made capitalism the driven force of the past two centuries , to create wealth as it has never seen before in the history of mankind .Furthermore, the collapse of the state, was more the triumph of individuals and their character, than just the expected failure of a wrong policy .- So, It is in each person the seed for something better, even beyond what can be imagined, for the society as a whole. The outcome of this interaction between economics and individual talents, is to have a path for a better society without depending of Government policies , but on individual willingness to be in charge of their destiny.