The Economic Compass: Principles for Better Understanding Our Decisions and the World Around Us - Softcover

Pérez Domínguez MA, Eco Victor Julio

Softcover

ISBN 10: 3950637915 ISBN 13: 9783950637915

Publisher: Victor Julio Pérez Domínguez, 2026

Synopsis

The Economic Compass introduces the fundamental principles of economics in a clear, accessible, and practical way.

Without requiring prior knowledge or relying on unnecessarily technical explanations, Victor Julio Pérez Domínguez guides readers through concepts such as scarcity, opportunity cost, subjective value, marginal utility, saving, interest, prices, incentives, division of labor, entrepreneurship, innovation, and dispersed knowledge.

Through familiar situations—buying, saving, investing, working, starting a business, comparing alternatives, or deciding when to continue and when to stop—the book shows how economic principles are constantly present in everyday life.

The journey begins with some of the central ideas of the Austrian School of Economics and also engages with thinkers such as Adam Smith, Frédéric Bastiat, Joseph Schumpeter, and Friedrich Hayek. It also incorporates insights from behavioral economics to help explain the biases and errors that can influence our decisions.

But this is not a book written to turn the reader into an economist.

Its purpose is to offer a clearer way of looking at the world: to recognize what we give up when we choose, distinguish immediate effects from later consequences, interpret the signals conveyed by prices, understand how people respond to incentives, and remember that much of the knowledge relevant to our decisions is often held by others.

Each chapter combines explanation, examples, and practical application through three recurring features: Economic Principle, Think of It This Way, and Apply It to Your Life.

By the end of the book, readers will have a practical compass for approaching personal, professional, financial, and business decisions with better questions and a broader perspective.

Because understanding economics is not only about markets, companies, or money. It is also about understanding how we choose, how we interact with others, and how we respond to a constantly changing world.

An accessible introduction to economics for anyone who wants to better understand their decisions—and the world around them.

Edition details

• Publisher: Victor Julio Pérez Domínguez
• Publication date: 2026
• Language: English
• ISBN 10: 3950637915
• ISBN 13: 9783950637915
• Binding: Paperback
• Number of pages: 110