In order to understand what’s going on in the world, people must embrace economic literacy. And I am not talking about the bastardized economics disseminated by ivory tower pseudo-intellectuals. I am talking about Austrian praxeology; I am talking about human action. It’s through this conduit of knowledge that people internalize the vile and evil nature of governments.
An authentic economic education will provide people with insight into why so many things in society are broken; why the dollar continuously loses value, and why the great depression happened and the housing bubble collapse occurred. It will provide them with insight into why cryptocurrencies are better money, and then they will begin to understand why money has value at all. They will come to terms with the nature of subjective value, and they will ultimately understand why morality is often studied alongside economic considerations.
The problem is this awakening will come at a price. People will realize we are no longer on the road to serfdom as F.A. Hayek pointed out; the road has ended and serfdom is here, within, without, and everywhere around. This is because of government control; because of politician’s warped economic measures, and because vast ignorance makes up the collective psyche of humanity.
In this sense, the awakening to the horrible economic realities around will also be jarring and unsettling and burdensome. It will be akin to Neo unplugging from the Matrix, and their will be a temptation to swallow the blue pill and go back to sleep.
That won’t happen to most people, though. People who wake up actually come alive. They realize the vast problems in society, and then they begin to speak truth and connect with people, opening hearts and minds.
This is the power of economic literacy.