I have often written and expounded the merits of a self driven education. However, there is merit in
going to get a formal education and certification. Indeed, this is especially important in most of the professional professions such as medicine and law. There is a place and a time for it, and economics determines that lace and time. A brisk understanding of economics is a sure guide in choosing what collage to go to and what field to study.
Too many youth and adults follow this modern proverb: "do whatever makes you happy. And then you never have to work a day in your life." This saying is a tiger trap: palms on top, nothing in the middle, spikes on the bottom. the market doesn't care what makes you happy. No one is paying you to please yourself. they call it "work" exactly because it is a utilitarian concept, not an epicurean one. You should enjoy what you do, true, but that is not the determining factor to the decision making process. I would enjoy touring SoCal in a small time Ska band, but is that economically feasible?
When choosing school and profession, these economic consideration should be made:
going to get a formal education and certification. Indeed, this is especially important in most of the professional professions such as medicine and law. There is a place and a time for it, and economics determines that lace and time. A brisk understanding of economics is a sure guide in choosing what collage to go to and what field to study.
Too many youth and adults follow this modern proverb: "do whatever makes you happy. And then you never have to work a day in your life." This saying is a tiger trap: palms on top, nothing in the middle, spikes on the bottom. the market doesn't care what makes you happy. No one is paying you to please yourself. they call it "work" exactly because it is a utilitarian concept, not an epicurean one. You should enjoy what you do, true, but that is not the determining factor to the decision making process. I would enjoy touring SoCal in a small time Ska band, but is that economically feasible?
When choosing school and profession, these economic consideration should be made:
1. IS THERE A NEED IN THE MARKET PLACE?
2. HOW IS THAT NEED BEING MET?
3. WHO IS MY CUSTOMER?
4. WHAT CAN I DO BETTER THAN MY COMPETITOR?
5. DOES IT MEET THE NEEDS OF ME AND MY FAMILY?
6. DOES IT ALLOW ME TO SERVE OTHERS?
7. IS IT PROFITABLE?
When these considerations are duly thought through, many bohemian professions suddenly loose their efficacy, and it becomes clear how the market place would like you to serve them. You are here to serve others. Most usually the most profitable job is an indication of where you can be of the best service and mot value. Economics says that people will pay for what they value. What do they value?
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