Personal Career and Financial Security Ch 6

The idea that economics is a complex, organic system of individuals interacting, not a machine with predictable outcomes.

A system of legal principles based on precedent and custom, emphasizing individual rights and freedom of contract.

A book by Friedrich Hayek that warned about the dangers of central planning and its potential to lead to totalitarianism.

The idea that the economy should be largely self-regulating with minimal government intervention.

A book by Ludwig von Mises that argued against socialist economic planning.

The fundamental principles on which America was founded, such as individual liberty, limited government, and property rights.

The belief that the economy operates like a complex ecosystem, where individuals interact and compete for resources.

A model for understanding how human civilization works, especially in regards to financial prosperity.

The foundational principles of common law that originated from religious tradition.

The first foundational principle of common law is to fulfill the duties of agreements made with others.

The second foundational principle of common law is to avoid harming others or their possessions.

An economic theory that emphasizes individual choice, free markets, and limited government intervention.

A legal system based on precedent and judicial decisions, emphasizing individual rights and property rights.

The process of learning from experience and observation, often without formal instruction.

The act of sharing knowledge with others, often through informal communication or mentorship.