No. You’ll be wasting your time. Here is why.
The very seed of the modern idea of economics came from moral philosophy that emerged from the ancient philosophers. This moral philosophy is as you would expect, what is a good political ruler? What is a good man? From that seed of moral philosophy, a sprout emerged called political economy in the 19th century. Political economy refers to the trade and service of goods in relation to laws and customs. From the sprout of political economy has emerged the tree of economics. Economics refers to the production, distribution, and consumption of goods and services.
So why is it a waste of time? It is because studying economics will not make you rich. The ‘science’ of economics is not a branch from the business and wealth tree, rather, it is a branch from the political tree. Note how economics, today, is used as a sort of politic arrows to fire at ideological opponents. These archers, who profess to be so concerned about the ‘economy’, are oddly obsessed with the political environment. The truth is that these people are obsessed with the political environment, are sophists of a stripe, but they do not believe it. They believe they are society’s sentinels and pointing spears at an invading political beast. Economics has become a type of modern political narcissism.
The hot moral tone that puts their arrows on fire comes from the root of the economics of moral philosophy. Get close enough to the archer, and he will pull out a different weapon, a direct political blade, to start wildly slicing in the air. It is not uncommon for the economist to erupt in shouting about liberty or survival or another word from the political constellation. The ideology of the economist is not relevant in this regard. Liberal ideologues will hold up economics by design, conservative or libertarian ideologues will hold up economics from interference, cite Mises.org, but the end result is nothing more than political sparring. All this empirical evidence and charts is the art of political attacking without appearing to be political.
How many rich economists do you see? They just don’t exist. The economist doesn’t just jump into a CEO of a major corporation and run it with one hand behind his back. He can’t. This is why economists do not create wealth. Hearing economists chatter about the creation of wealth is like hearing virgins chatter about how to become don juans.
So what does make you rich? Above all, learn how to sell. Always, always, always practice and refine your communication in all forms, written and oral, speech and informal. Learn accounting. And begin the lifelong study of people.
Law is a very important factor in the landscape of the journey to wealth. When the law changes, the financial future changes as well. However, I am using law as different from politics. Becoming a lawyer won’t make you rich, but you need to know how to talk to a lawyer.
One of the reasons for political corruption is the indoctrination of youth to believe that ‘noble’ fields like law and economics will make them wealthy and fabulous. When this doesn’t happen, the person either becomes bitter or they run for Congress. A Congressman doesn’t pay that much. Yet, amazingly, these people exit office with millions. They do not consider it ‘corruption’. They consider it the ‘norm’ for their ‘noble profession’. Ultimately, these crooks are more stubborn adolescents who have never come to grips their original vision toward making money was wrong and never sought to reform themselves.
Generating wealth is a contextual change, not an academic exercise. Those who embark on this pursuit are in for much substantial initial pain and shock not unlike a child taking his first step. Gone is the school counselor’s ‘career path’. Gone is the corporate ladder. Before you is a fantastical journey with its own set of smooth waves and unexpected rocks while the other path is working furiously and, once out of work, intoxicating oneself in a soma like state. One path is to immerse oneself in an electronic world to silence the rebellion from the soul, the other to let the soul out of its life-long cage and see where it goes. One path is a conveyer belt, another is an adventure. Which will you choose for your life?