Should entrepreneurs understand economics?


From Economic Value Added to stand up meetings, economist Anthony J Evans makes the case to our director, Philip Salter, for entrepreneurs getting a grasp on economics.

“We tend to think of economics as being a way to understand the economy, but it is really a way to understand markets. It is the basis upon which we understand hidden costs and what constitutes value in the minds of our customers.”

“So it helps us to make internal choices about the best use of our resources, but also the prices that are generated by market exchange provides valuable feedback on the wider industry,” the economist says.

Read Philip’s interview with Professor Evans in full on Forbes here.