Why do I love economics so much? Economics is the study of human choices, not just financial decisions, but the cost-benefit analyses that go on in your mind every second of every day. You are choosing to read this meandering muse, but you could be utilizing your time differently — playing a game, talking to someone, or practicing the bagpipes. Why aren’t you? Because you’ve judged, rightly or wrongly, that this will give you more satisfaction than the alternatives, given the fact that you are already sitting here and at this site (transition cost) and you may be a friend of mine, so when I bug you about reading my blog, you can politely say that you checked it.
The field of economics gives us the tools to better understand human psychology, politics, religion, romance, and even baseball.
Economics should inform Christianity, as well. If John Piper’s Christian hedonism is anything like a good model, Christians have done the ultimate cost-benefit analysis, deciding that serving YHWH satisfies our deepest longings. Every Christian should be an economist.