Economics Starts at Home

foreclosureIf you research the word “economics” you will find that the etymology of the word lies in the family. The word literally means the structure necessary to operate a successful family. So even though you may have never taken a single college class in business, you are in fact an economist. You may be a good one or you may be a poor one but…you are one.

What is interesting about this concept is the implied responsibility this places on each of our families for the current economic crisis we find ourselves experiencing. Your initial reaction to that statement is probably, “Wait a minute – I’m not responsible for this mess, am I?” Consider this illustration. If a brick building collapses, one of the causes we must consider is the possibility of defective building blocks, i.e., the bricks.

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