The economy basically is a study of human civilization history. It been more than 300 years ago since the first person who dedicate himself in this subject - Adam Smith (born 1723). "The wealth of Nation", his first book published at 1759, advocating the "self regulated market system by the individual self interested behaviour".
The simple idea from this book has well explained the nature of our current economic system is always going through the boom and burst.
Adam Smith (1723) - "The market system is self regulated by individual human self interested behaviour in the system. It is the invisible hand governing the liberal market going through the boom and burst cycle. The invisible hand will ensure the private interest and passion of men to be most agreeable to the interest of the society as a whole."
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