How we speak
Much of sociological thought is formed around basic ideas that are the predilections of other ideas. One large idea is that language forms the foundation for human interaction. If there was no language, it is thought, there would be a lack of society in its common sense. If there was no word for road, it would be very hard for a road to be built. This idea may have flaws in some senses, but ignoring these, we can look at how current common economic terms are structured and used. Once economics moved from a mainly foreign social science to one based in English speaking countries, the terms used to describe phenomena were changed. In languages such as German phrases are based around correctly identifying a situation. Instead of scarcity, Karl Menger used "Insufficient quantity", in his seminal work Principles of Economics. The phrase insufficient quantity is not only a definition of a problem, but gives an idea to what extent it can be solved, whereas scarcity allows the brain to wander. Point being, the translation of economics from a foreign language may create a barrier that can not be translated. Maybe English does not allow the correct explanations, or perhaps the laziness of English allows for shortcuts to be taken. Taking a shortcut often lead to problems, this case notwithstanding. One can wonder how different subjects could be learned from a different point of view, but it is essential to learn different topics in the context they were initially written. I write this only because of my reading Menger's aforementioned book. Austrian economics is a term that too few people know, too few understand, and even fewer appreciate. Austrian economics takes real world human situations and places them in the realm of reality. Whereas many other school of Economic Thought prefer to function around hypotheses, Austrianism looks at how things really work. In reading the prolific book by Dr. Menger, I have come to appreciate even more the school which gives me a reason to love economics.