Learning Economics Will Make You a Better Entrepreneur
I love Economics, but I know I am in a small minority of people who feel that way. I think the importance of Economics is highly underrated though for entrepreneurs. Understanding the world and how the economy works can be very beneficial. On a macro level it may influence what business you decide to go into and on a micro level it can help decide how you construct your product/service. You see many business people major in Accounting (which is much more useless, especially considering technology/offshoring will eliminate 98% of accountants) and get MBA’s, but Economics is a neglected field of study for most entrepreneurs. I believe the reason is that most people do not view Economics as sexy, but rather find it boring/useless. I think that view could be changed however if students had better Economics teachers in high school and professors in college (maybe not though, I am strange, so maybe Economics will always be boring to the other 96.5% of people). Regardless, I encourage you to really give Economics a try. It can dramatically effect how you view the world and I guarantee it will be of benefit to you as an entrepreneur. Here is a list of books to read:
Competition and Entrepreneurship
The Theory of Money and Credit
Money, Bank Credit, Economic Cycles
You can read a lot of books on this site for free.
