by Alonzo Garbonzo on May 20th, 2005

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Why is economics called the "dismal" science?

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by Rumpleforeskin on June 2nd, 2005
Economics, the science studying the allocation of limited resources which have alternative utility, is often referred to as the "dismal science" because it deals with the inherent, inescapable limitations and realities of the human condition. Scarecity relative to demand will always exist. Personally I find it quite facinating.
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Why is economics called the "dismal" science?

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