Dismal Science
Categories: Financial Theory, Regulations
"Dismal science” is a term used today to describe the discipline of economics in a non-Fifty Shades way.
The origin of the term, while coined by writer and historian Thomas Carlyle, is up for debate. Some say he was getting depressed about Malthus’ prediction that the world’s population would grow faster than the world would be able to feed. Others say Carlyle was actually referring to John Stuart Mill’s opinion on why wealth inequality between nations was a thing...which he said he thought wasn’t based on race. Carlyle was not down that Mill thought slaves should be emancipated. Yeah...it was a different time.
Economics = "dismal." Remember the notion every April 15th.