Book Pitch

Well, I don't know if it's the hardest concept to teach without a graph, but the concept of basic market equilibrium--Marshall's scissors--is made extremely clear using a diagram.

The hardest thing for most people to grasp, with or without graphs, is comparative advantage/international trade. But I agree with Mark about supply and demand. It's hard to imagine teaching it without the visuals.

Funny you would ask this... I just ran across an example where math and diagrams are a self-fulfilling prophecy of economics, i.e. if you can't math it out or diagram it out, then economic analysis does not apply!!

David Weinberger pointed to a paper by the CBO discussing path-forward on copyright issues. Here's the key quote:

Furthermore, not all aspects of markets for creative works lend themselves to economic analysis. In particular, while economists may confidently expect that abolishing copyright protection altogether will reduce the level and quality of creative output, they cannot easily predict how a less dramatic change in compensating copyright owners will affect the number or quality of creative works being produced.

Arnold, you have to fight this mindset. Without the ability to consider economic consequences without a formula nobody will understand, we are left with a giant p*ssing match.

I believe that economists have a right to feel that we have superior knowledge on issues of public policy.

I'd say that economists who are right may have the right to feel this way.

The hardest element of Economics to teach without Math or diagrams must be Price theory. Labor Economics comes in a close second. lgl

Economics concepts can all be taught without diagrams. Any subject matter can be taught at different levels of complexity and mathematical sophistication. For example, physics concepts such as string theory and mechanics can all be presented to the "lay" public without use of mathematics. They can even be taught to elementary school students who have no knowledge of algebra. How a subject is taught all depends on the audience. For example, Shakespeare's King Lear would be presented differently to a class of junior high students than to a graduate English literature class.

As far as economists being "right", I don't believe this is true. Many areas of economics are based on reason, logic, and fact, but when it comes to public policy, economics can not be the last word. There is an enormous amount of disagreement amoung economists on public policy issues. The classical economists were rather wise when they refered to what they were discussing as political economy. They recognized the inherent relationship between economics, politics, and ethics. Economists can advise policy makers, but it's our elected representatives who should be making the final decisions. Public policy should not be driven by what economists think is right but by what they think is right.