Nobody has understood yet what is the real meaning of economics even Adam Smith, Karl Mark, Marshall, Keynes, Robins etc. They had been trying to explain what they have learned from other books but all were failed to understand the real meaning of the economics. All universities of the world, have been teaching the wrong concept of economics that’s why people across the world, have been compelling being suffered by doing unproductive work. Scientists have been doing great and creative job, they have been inventing so many good things for making life easy but economists and politicians messed up the world from every aspect. I can give you a simple example everybody knows that alcohol and smoking are not good for human so the government should stop it by introducing law but the government doesn’t want to stop it because of collecting tax. Economists suggest to the government that if alcohol and smoking are stopped then so many businesses are collapsed and tax would be decreased. They simply can’t imagine that if people stop doing expenses in bad things then people will start using their money which are good things for life. So that the government should always focus on people should be compelling for doing good things for humanity and environmental aspects as well. The government can collect tax from good economy activities People don’t have a house for living people don’t have food to eat then why should produce alcohol and smoke? To get profit and collect the tax. Profit and tax also can easily generate from housing, foods clothes etc why we should make unnecessary products regarding increasing tax, employment and profit because it is the lack of real meaning of economics. All economists have been reading microeconomics and macroeconomics they are perfect to know what somebody already wrote about price of products, price of labour, the income of a person, expenditure style of person, how to produce goods, how to sale, how to make a profit what is a fixed cost, what is a variable cost, what is marginal cost, what is marginal revenue, what is short-run cost, what is long-run cost, the law of demand and supply, the elasticity of demand and supply, price index, the role of interest, employment rate, the role of a commercial bank, role of the central bank, taxation, monetary policy, fiscal policy etc everything they can understand very nicely what they have learned from books but they fail to understand the true meaning of economics from the real ground of economic activities. Most of the world top economists have been living in the USA and they continue to suggest to the government of the USA by taking handsome salary even, their people have been compelled to work 12 to 16 hours per day for a live normal life, people are compelled to loot from supermarket to live a normal life then how I can say that someone understands truly meaning of economics. nobody yet, all are in puzzled in economics, they are compelled to pretend that they know economics to be safe their profession. please wait for my next article I will define the real meaning of economics.
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