Why Economics is sooo Great (amv)

Most people have difficulties in understanding Ricardo's concept of comparative advantages. It claims - in essence - that no matter how inferior your skills are compared to those of others, there is still a role you should play in society and thus an income for you to earn. Even if everyone is more talented than you are, you can still contribute to society. In a free market, you are directed towards those activities you can do best. As a law of association, Ricardo's principle of comparative advantages explains the division of labour based on our diversity. Economics is often called the Dismal Science, since - at least once upon a time - economists used to be a bulwark against any kind of utopianism. Instead it offers messages, which are most promising for mankind: Our natural diversity is the source of our well-being! Pluralism is the ultimate reason for prosperity! If you only strive for your own self-realisation, you add the most to your society! Indeed, Ricardo's law of association leads to Adam Smith's invisible hand! (However, Ricardo's and Smith's theories on the division of labour differ. Here is an article from Nobel laureate Buchanan on the two perspectives).