Dismal Science

The term "Dismal Science" refers to economics, a social science that studies how societies allocate scarce resources to meet their needs and desires. Coined by the Victorian historian Thomas Carlyle, it reflects the often sobering or pessimistic aspects of economic study, such as poverty, famine, and income inequality. Economists analyze data, trends, and human behavior to understand complex systems and make predictions about markets and economies, which can sometimes lead to challenging conclusions about societal conditions and choices. Despite its challenges, economics aims to provide insights that can improve decision-making and address pressing issues.