Economics is about people, not just numbers

When I was younger, I read The Little Prince, a book that is close to my heart. It became so dear to me that I even got a mini copy to carry with me everywhere. In one scene, the little prince notices how adults care so much more about numbers than about real life: they are “not interested in anything but figures”. That sentence stayed with me, because I realised how often in our world, numbers are given more importance than people themselves.

Now, as I plan to pursue an undergraduate degree in economics, I keep thinking about that message. But do these numbers really show how families are thriving, students are learning and how communities are growing? Economics is not only about calculations, it is about lives.

Beyond the numbers

In recent years, we have witnessed the phenomenon of developing countries overtaking developed countries in global GDP rankings. Some celebrated this development. Others expressed scepticism about this achievement, as GDP growth does not necessarily make a country developed or improve its Human Development Index (HDI) ranking. However, this issue is not really about comparing developed and developing countries.

Any country can show economic growth. At least, on paper. Sounds like an achievement, right? Does that automatically mean better healthcare for its citizens, opportunities for young people or access to quality education? Often, not really. Numbers give us one perspective, but they don’t tell the full story. Yes, numbers are important, but not as important as we people are, are they? This is why economists today speak about so called human capital, the health, knowledge and skills that people carry with them for a lifetime. Things you learn that no one can take away from you.

Why people centred economics matters

Think of a small business in your town. On paper, it might be measured only by its revenue. But what about the training it gives to its young workers? The confidence it brings to families who can now support their children by working there? The community bonds it creates? These are real economic impacts, even if they are not always captured in statistics.

In Azerbaijan, youth programmes supported by the EU, like EU4Youth, highlight this approach, by giving young people opportunities, teaching them real life skills, offering trainings in leadership. They are investing in people and these people change communities.

My own experience

Through teaching English and Russian conversation clubs, I have seen how education encourages people. Some students start with just a few words, afraid to speak and little by little gain confidence to express themselves, which is really important. As a language learner myself, I also struggle, so I understand. I made it fun for me to practice French by reading The Little Prince in its original language. Others discover new interests, develop teamwork skills or even join international programmes. Watching people grow reminded me that economics is not just about money or statistics, it’s about the opportunities, skills and happiness

A call to action

As young people, we are often told that economics is complicated and that we should leave it to “experts”. But the truth is, we live it every day. By launching projects, joining youth networks and supporting our peers.

The little prince was right: life is not about numbers alone. If we only focus on figures, we risk forgetting what truly matters. Economics must answer bigger questions: Are people’s lives improving? Are young people included? Are opportunities growing for everyone? If we measure success not just by numbers but by people’s wellbeing, we can build societies that are more fair and full of opportunity. Economics is about people. And people, especially youth, are the real wealth of our future.