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 <p>Get ready for another long read (I really enjoy sharing these long form content that goes into a lot of details.) This one has over 17K words to read through. Luckily I had previously read some parts of Frédéric Bastiat's work and I am familiar with many of the ideas expressed in writing. It is easier for me to skim through and slow down when I find something new and interesting. For those who are not familiar with Bastiat's work or Austrian economics, this could be take a few long hours.</p><p>I personally think this is one of the best places to start for a new student of economics. The words were written in mid 19th century. Yet the words were about the fundamentals of human action and nature of certain systems. Hence the work has retained its full value centuries later.&nbsp;</p><h3>Traders MUST Learn Economics</h3><p>Those who do business may do fine without learning economics. They are more about products and services. Certain trading strategies that focus on undervalued assets can also do fine without a great understanding in economics. Warren Buffet has proposed many economically ignorant claims in his life despite being one of the biggest traders in the market (greatly due to the power of compounding returns).</p><p>But you don'get any of those luxuries as a small time trader. You have little money and a lot of money to be made. If you know your economics well, your predictions are going to align better with reality. So take a few hours and study well. The schools are not going to do much for you at this.&nbsp;</p>  

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