The study of economics has always been fascinating; however, it is difficult to identify a more interesting or more significant period in the history of this science.

Consider today's major economic issues - the enormous budget and trade deficits of the U.S., global warming, the debate between proponents of conservation and exploration in energy matters, ensuring adequate healthcare, eradicating global poverty, reforming social security, outsourcing jobs to foreign partners, reevaluating the nature of competition and regulations in the internet age, and protecting intellectual property rights in a digital world where anyone can "download" anything from the internet.

The list is long. To understand these issues, the fundamental observations of economics are essential.

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