ExcitingNomics - Going from Zero To One
I recently wrote a summary on a “Zero To One” - written by paypal founder & facebook investor - Peter Thiel. One of Thiel’s core ideas was that a monopoly situation should not be frowned upon – and in fact, a monopoly is the best outcome for all parties involved.
My intuition strongly disagreed with Peter Thiel, and I mentioned this in my summary under “My Thoughts” . However, I was careful not to completely dismiss Thiel’s ideas. Afterall, Thiel is a genius in his own right – and has accomplished a lot. How could my intuition possibly hold any weight against his genius? But sometimes, intuition and "obvious" matters may have complex explanations.
“An economist is a man who states the obvious in terms of the incomprehensible.”
Alfred A. Knophf
If It Smells Wrong Don't Eat It!
If your intuition is telling you something doesn’t smell right – perhaps look into the matter. Don’t just trust the word of an authority figure. As human beings we are particularly susceptible to Authority Bias. So, in an effort to clear out my doubts on Peter Theil’s views on a monopoly – I decided to do some digging into the Fundamentals of Economics. As Computer Scientist, this is a completely new journey for me.
But this journey has opened an exciting world. Never would I have imagined economics being so interesting. I think the bland charts and the name - ‘Economics’ tend to make us think that the topic is as complicated as it is boring. But in truth, Economics has turned out to be simple & exciting. Perhaps if it were renamed to "ExcitingNomics" it would draw more eyes?
“Economics should be as uncomplicated as it is eye-opening"
Thomas Sowel - Author of Basic Economics
Books & Courses For Studying
Anyway, I want to take you guys a long with me on this journey. So each week I will be writing a few short posts that summarize the core ideas on economics.
I have picked up the following resources to facilitate my learning:
Next: The Fundamentals