Economics: n. knowledge corresponding to (production and/or consumption) and/or the transfer of (money and/or ingus) which is the addition and/or subtraction of money and calculating percentages of money transfers
Ingus: n. information and/or goods and/or services
A simpler way of understanding economics is to say that it is HOW WEALTH IS CONTROLLED BY MONEY AND LAWS.
Wealth: n. having (ingus and/or money) and/or (land with plants and animals and/or water) and/or air
Economic units controlling the wealth are plants, animals, humans, organizations, businesses, governments, and banks. The most powerful controlling units are the banks and governments but the most important economic units are the plants and animals upon which our ultimate survival depends.
Plants and animals are powerless economic units because they don’t control money but they do control energy, what money represents, and the land around them so biodiversity is vital to the survival of humans on the face of this precious planet.
Laws should provide for the just distribution of wealth between all the economic units. Bad laws or the absence of good just laws is the primary reason for the sad state of the world today because making more money alone is mostly worshiped and not worshiped is the just way that it should be used for the benefit of the world eco system.
Wilderness plants and animals are efficient thrifty non-polluting economic units utilizing the least amount of energy to survive and humans are the most inefficient profligate polluting units using the most energy or money to survive. It is time for humans to start living more efficiently with a morality which promotes biodiversity and radically reduces profligacy with efficient non-polluting behavior.
Teaching humans to be thrifty with fat reserves for emergencies or saved up money for emergencies is a dying good and vital habit but the economic system does not encourage thriftiness. Non thrifty profligate organizations, businesses, governments, and banks are operating without money reserves for emergencies and the consequences are that there is inflation with much counterfeit money circulating in the economies of the world devaluing the worth of money. Not being thrifty and efficient means no long range planning is possible for economic units and more and more of the economic units will be living in crisis mode on the verge of bankruptcy.
It may seem financially undoable but what the world really needs is a stable money supply which maintains its value over time. Competing governments with unique currencies with control over the quantity of money circulating makes it physically unlikely that the value of the currency can be maintained at relatively constant value worldwide unless all the currencies are identical. A uniform world currency is still a dream of the most powerful and rich worldwide but whether it will ever become a reality is still a big question mark.
Banks control the money supply with lending and the charging of an interest rate which concentrates wealth and power to lend more at a future date. A just world unified currency would be to lend money at no interest rate because you already have control over world currency and this would guarantee a more value stable money supply and encourage savings for the future in all the nations of the world.
The key to an economically healthy nation and world is a thrifty moral working family unit which lives within its means and produces wealth for the nation and world and raises competent offspring who also join the workforce so that future generations may benefit from the fruits of labor of the previous generation. Break up a healthy family unit and it leads to dysfunctional offspring who will not reproduce effectively and frequently become a financial burden on the nation and world.
China has no social security and the savings rate is the highest in the world for about 20% of the population but unfortunately the value of their currency is not stable with a high inflation rate and it will severely reduce the value of these savings. China has many thrifty family units and cohesive families and it is one of the primary reasons why it is doing so well economically. If the Chinese economic model becomes identical to the US which doesn’t encourage savings and the family units begin to break down then China will also begin to teeter on the edge of financial bankruptcy.
Economics is the study of production, consumption, and transfer of money and/or ingus in society. Money is either added or subtracted and percentages of money are calculated which basically is calculating interest or profit on money. Economic risk calculations are also done using percentages of money and supply and demand calculations or considerations.
Profit is a measure of economic efficiency but unfortunately economics and profit alone can be very stupid in determining the health of the food being produced or the quality and necessity of the ingus being produced.
Unhealthy food and bad quality ingus is possible if profit is the only standard of excellence used. You can make great profit from crappy food and bad quality ingus which can be consumed by a gullible public who doesn’t know the difference between what is sustainable and necessary and what is mediocre or bad quality wise.
A smartly educated informed public is vital to maintaining quality in the deceptive marketplace where illusion too often dominates in the pursuit of the mighty dollar and quick profit which often distorts good healthy long duration social norms and goals.
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