Economy
The economy is the way we produce goods and services and how these goods and services are distributed and used by consumers. In a broad sense, an economy doesn’t have to be a specific size as long as it involves the production and consumption of goods and services.
In a broad sense, everyone contributes to the economy, whether they produce goods or services or consume them. Historically, goods and services were bartered (traded), but in today’s world they are normally purchased with financial instruments. Because of this, the people who control the financial instruments control the economy.
Governments also rely on taxes to raise funds to provide social goods and services, which are levied based on economic activity.
Mismanagement of economic resources can lead to a recession or depression, while good management of economic resources leads to prosperity.
Since World War II, we have seen the “world economy” come into vogue. Organizations such as the World Economic Forum, World Bank, and World Trade Organization now tie different economies together. This has led to a greater awareness of global ecology and how we can sustain the world. It has also made all the economies become more interdependent on each other.
Original Technorati articles tagged “Economy”
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in PoliticsGeithner Under Heavy Fire from Critics

Congress roughed up the Treasury Secretary with calls for his resignation. How will this impact the economy?by DrDouglasRice / on Nov 25, 2009 -
in BusinessGoing Up! UK Inflation is Rising

The UK's Retail Prices Index jumps by over half a percent as prices begin to rise.by orangeduvet / on Nov 17, 2009 -
in BusinessHalf of UK Employers Will Freeze Pay

A CBI survey signals more "almost good news" for the British economy.by orangeduvet / on Nov 16, 2009
Latest blogosphere posts tagged “Economy”
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Premium Views - Dec 03,2009
Interview with the Mortal Vampire on Blog Talk Radio —
Authority: 110
A show that invites you to join in with your opinion on today’s hot topics. From Diverse to Controversial no topic is off limits to our panel of hosts. Similar to that TV syndicated show, this show offers you something you never get the opportunity to do. Give your opinion, speak up and be heard, or just share ...46 minutes ago -
An academic definitely not neglected
University Blog —
Authority: 428
Well, to be fair, a former academic. The American magazine Foreign Policy has just declared the Cjairman of the Federal Reserve, Ben Bernanke, to be number 1 in the list of the top 100 global thinkers. So here we have someone from a very definitely academic background who is certainly not neglected (with ...48 minutes ago -
The War on Digital Piracy: A Cynical Response?
Fr. Ted's Blog —
Authority: 130
In my previous blog Remixing Lawrence Lessig’s REMIX , I used a rhetorical question Lawrence Lessig asked in his book REMIX: MAKING ART AND COMMERCE THRIVE IN THE HYBRID ECONOMY to reflect on what made big government distrusting conservatives think the government was capable of running a foreign ...58 minutes ago -
IMF says RP banks remain resilient
Pinoyweb —
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MANILA, Philippines – The International Monetary Fund (IMF) said the local banking system remained resilient after the Bangko Sentral ng Pilipinas (BSP) managed to put in place reforms aimed at containing the effects of the global financial crisis. Il Houng Lee, head of the IMF mission that visited the Philippines ...1 hour ago -
Tackling Tough Issues
Watch your favorite videos on the internet. —
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President Obama will soon shine the spotlight on two tough issues, Afghanistan and jobs. As Chip Reid reports, is there enough money to pay for what he wants to do?1 hour ago -
Run on the U.S. Dollar ….Soon
Stupidica —
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Porter Stansberry writes: Its one of those numbers thats so unbelievable you have to actually think about it for a while... Within the next 12 months, the U.S. Treasury will have to refinance $2 trillion in short-term debt. And thats not counting any additional deficit spending, which is estimated to be around $1.5 ...1 hour ago -
Directory of WOODWORKERS in NORTHWEST TERRITORIES Updated!
REALLY Made IN Canada NEWS —
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The REALLY Made In Canada ™ Canadian Business Directory has been updated to include the latest local listings for Woodworkers in Northwest Territories, Canada. These local Northwest Territories business listings are just some of the over one million Canadian businesses and organizations providing Canadian goods, ...1 hour ago -
Annual Report-2009: World Bank approves $500 million for regaining economic stability
Pakistan News Watch —
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The World Bank has approved $500 million to support the government programme to regain and maintain economic stability and steer the economy back onto a higher growth path. According to the WB Annual Report-2009, the Bank focused on helping South Asian countries cope with the impact of the global economic crisis. In ...1 hour ago -
Chinese army objection: work on road in IHK stopped
Pakistan News Watch —
Authority: 164
Work on a mountainous road in Indian-held Kashmir near the border with China has been stopped after objections from the Chinese army, an official and a report said Monday. “The road was being built for the locals following their persistent demands,” a government official from Leh, the capital of the area of Ladakh ...1 hour ago -
New Transit Trade Agreement: LC may become mandatory for Afghan importers
Pakistan News Watch —
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The new Afghanistan Pakistan Transit Trade Agreement (APTTA) may incorporate a new provision, making it mandatory for the Afghan importers to open letters of credit (LCs) of sensitive/smuggling-prone goods being traded under transit facility. Sources told Business Recorder here on Monday that the Pakistani delegation ...1 hour ago -
Why don”t Prime Minister’’s colleagues follow Rules of Business?
Pakistan News Watch —
Authority: 164
Prime Minister Yousaf Raza Gilani, who has repeatedly instructed the ministries to follow the Rules of Business 1973 on ex post facto approvals of agreements and memoranda of understandings (MoUs) with different countries, delivered the same “litany complaints” during the Federal Cabinet meeting on November 18, ...1 hour ago -
Inflation fuels middle class dissatisfaction with government
Pakistan News Watch —
Authority: 164
Pakistan’s middle classes are increasingly being squeezed by price hikes, fuelling dissatisfaction with an unstable government that is struggling to contain Taliban attacks. In a country with huge disparity in wealth, life has always been a struggle for the third of the population that lives below the poverty line ...1 hour ago -
Training labour force: ministry joins hands with international institution
Pakistan News Watch —
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The Ministry of Industries is working on a plan to conduct training programmes in Pakistan which will award internationally recognised certificates and diplomas to graduates, Business Recorder learnt on Monday. In today’s competitive age, the quality and types of skills required internationally are fast changing and ...1 hour ago -
Gujranwala Business Centre to be inaugurated soon
Pakistan News Watch —
Authority: 164
The Gujranwala Business Centre (GBC) which is being completed in collaboration with Gujranwala Chamber of Commerce and Industry at a cost of Rs 297.56 million is likely to be inaugurated by the end of this year. Small and Medium Enterprises Development Authority (Smeda), provincial chief Alamghir Chauhdary told ...1 hour ago -
Overseas Pakistanis Forum to be held on December 6
Pakistan News Watch —
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The first session of the overseas Pakistanis Forum will be held in Dubai on December 6. Federal Minister for overseas Pakistanis Dr Farooq Sattar will preside at the forum. The forum will act as a bridge between the overseas Pakistani community and the government of Pakistan, said Ambassador Javed Malik who is ...1 hour ago -
Germany to enhance aid to 125 million euros: nation to hear good news on Kashmir issue: Gilani
Pakistan News Watch —
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Germany has agreed to enhance the development assistance to Pakistan from 80 million euros to 125 million euros to help strengthen Pakistan’s economy and to wipe out terrorism and extremism from the country. The two sides will sign the new version of the Bilateral Investment Treaty to enhance co-operation in ...1 hour ago -
Obama Spokesman Robert Gibbs Say’s “There’s No Real Scientific Basis” Refuting Global Warming
motorcitytimes.com —
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“There is no real scientific basis” refuting global warming … Oh really?Proponents of man made global warming have destroyed evidence, made ‘adjustments’ to data to achieve the desired outcome (on more than one occasion) and measure ice cores in the arctic using Home Depot tape measure (no offense to Home ...1 hour ago -
Chavez threatens to nationalize Venezuelan banks
Truth is Contagious —
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CARACAS (Reuters) – Venezuelan President Hugo Chavez said on Sunday he could nationalize private banks unless they comply with the law, adding he had “no problem with that because the banks don’t want to extend credit to the poor.”In a broadcast from nationalized farmland in central Venezuela, he said: “To ...1 hour ago -
The Party of No, by Arnold Kling
EconLog —
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The Washington Post reports , a new Washington Post poll also reveals deep dissatisfaction among GOP voters with the partys leadership as well as ideological and generational differences that may prove big obstacles to the partys plans for reclaiming power. The way I read the poll, Republican voters say "no" ...1 hour ago -
Former businessman lives on no money for a year
Truth is Contagious —
Authority: 561
A businessman gave up his career to live on no money for a year after becoming disillusioned with consumerism.Mark Boyle said giving up his job, possessions and money to live the life of a pauper in a rusty old caravan was the best decision he has ever made.The 30-year-old has vowed to [...]1 hour ago
