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Use this guide to find and evaluate information and resources related to economics."Economics is the study of the use of scarce resources which have alternative uses." -- British economist Lionel Robbins' classic definition of economics:
Social science analyzes and describes the consequences of choices made concerning scarce productive resources. Economics is the study of how individuals and societies choose to employ those resources: what goods and services will be produced, how they will be produced, and how they will be distributed among the members of society. Source: Sowell, T. Basic economics: A common sense guide to the economy.
One of the missions of the Hutchins Center on Fiscal and Monetary Policy at the Brookings Institution is to improve public—and congressional—understanding of major budget issues confronting the U.S. To that end, they've boiled the facts about the outlook for the federal debt down to a three -minute animated video in which the recent ups and downs are traced and projections for federal borrowing over the next decade are presented.
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