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.

by Ed Dickson Are you a writer, passionate about this or any other topic? Join Blogcritics!

Original Technorati articles tagged “economy”

• in Business
  Going 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 Business
  Half of UK Employers Will Freeze Pay
  A CBI survey signals more "almost good news" for the British economy.
  by orangeduvet / on Nov 16, 2009
• in Business
  UK Chancellor Announces Pre-Budget Report Date
  The 2008 pre-budget report packed a few surprises. Will the 2009 edition be just as exciting?
  by orangeduvet / on Nov 12, 2009

Latest blogosphere posts tagged “economy”

• Prieur’s readings (November 21, 2009)

  
  Investment Postcards from Cape Town — Authority: 641
  This post provides links to a number of interesting articles I have read over the past few days that you may also enjoy. • Jim Jubak (MSN Money): 3-step strategy for a twitchy market , November 19, 2009. Many investors are deeply suspicious of the 60% run-up in stocks this year and are itching to sell. But then ...
  2 hours ago

• World comrades meet in Delhi to fight imperialism

  
  Thaindian News — Authority: 710
  New Delhi, Nov 21 (IANS) Their fight for an egalitarian society may still be a distant dream but communist parties from 48 countries meeting in the Indian capital say they are committed to fight the capitalist market economy and imperialism.At least 87 participants from 58 communist parties of the world are in Delhi ...
  2 hours ago

• "My interpretation of the data goes to income inequality. I see this as evidence that the last decade..."

  
  Quoting the Crisis — Authority: 145
  “My interpretation of the data goes to income inequality. I see this as evidence that the last decade of growth in the U.S. has not been beneficial for poorer Americans. However, I would go further in saying that the downturn in the U.S. and rising unemployment, bankruptcy and foreclosure in the middle class has ...
  2 hours ago

• Executive Editor of "Roll Call" Calls For Third Party

  
  The Whig — Authority: 518
  Roll Call: Economy Is Weak, Voters Are Angry -- Time for Third Party? Some excerpts: ‘The mood of America is glum. Two-thirds of the public is dissatisfied with the way things are going in the country" and voters anti-incumbent mood is approaching 1994 and 2006 levels, when control of Congress changed hands. ...
  2 hours ago

• Commerce Bank of Southwest Florida Fails; 124th of 2009

  
  Wall Street Pit — Authority: 641
  State regulators shuttered Commerce Bank of Southwest Florida in Fort Myers, Fla., Friday night, bringing the number of failures so far this year to 124.To protect the depositors, the FDIC entered into a purchase and assumption agreement with Central Bank, Stillwater, Minnesota, to assume all of...
  2 hours ago

• The lie of the investment land, according to Dylan Grice

  
  Investment Postcards from Cape Town — Authority: 641
  This podcast features an excellent interview by FT’s David Stevenson with Dylan Grice, strategist of Société Générale. Dylan, who has been described as “the Robin to Albert Edward’s Batman”, discusses stock market bubbles, China and geo-politics. Click here for the interview (but be warned that the ...
  2 hours ago

• Gross: Anything but .01%

  
  Investment Postcards from Cape Town — Authority: 641
  Bill Gross , co-founder and co-CIO of PIMCO, is to my mind one of the shrewdest money men around. His monthly newsletter, this month entitled “Anything but .01%”, therefore always makes for thought-provoking reading. The following are a few excerpts from the report: “Almost all money market accounts - totaling ...
  2 hours ago

• The Real Reason Behind the Market Rally

  
  Wall St. Cheat Sheet — Authority: 644
  Many people are astonished that the stock markets have continued to climb in spite of a plethora of insurmountable roadblocks. One can get dizzy just naming all the obstacles in the way of a recovery: personal debt, government debt, Dollar collapse, Iran’s nukes, global warming, the lack of a terrible Nick Cage ...
  3 hours ago

• The G20 in 2050 - India third biggest economy in 2050

  
  Dead Presidents! - India Equity Research — Authority: 502
  The world’s economic balance of power is shifting dramatically. By 2050, the United States and Europe, long the traditional leaders of the global economy, will be joined in economic size by emerging markets in Asia and Latin America. China will become the world’s largest economy in 2032, and grow to be 20 percent ...
  3 hours ago

• The week ahead

  
  Investment Postcards from Cape Town — Authority: 641
  The video clips below provide a handy summary of the reports expected on the economic, financial and corporate front around the globe during the week ahead. US: Housing data, holiday sales Investors will hear a lot about housing next week, with data on existing and new home sales coming. Hewlett-Packard will ...
  3 hours ago

• Don Coxe webcast – updated (November 20, 2009)

  
  Investment Postcards from Cape Town — Authority: 641
  Don Coxe has updated his popular webcast on Friday, November 20 - good news for his followers. You can access the recording here or from the sidebar of the Investment Postcards site (the column on the right-hand side) by clicking on Don’s photograph. Please note that access to Don’s recording works best with ...
  3 hours ago

• Partisan bickering is not the solution for fostering economic growth

  
  Investment Postcards from Cape Town — Authority: 641
  This post is a guest  contribution by Asha G. Bangalore * of The Northern Trust  Company The main theme of the opinion piece by Representatives Hensarling and Ryan from Texas and Wisconsin, respectively, in today’s Wall Street Journal ( Jeb Hensarling and Paul Ryan: Why No One Expects a Strong Recovery - ...
  3 hours ago

• Bureau of Labor Statistics: Unemployment Rates Increased in October for Nearly 60% of the States

  
  The Political Bridge — Authority: 146
  REGIONAL AND STATE EMPLOYMENT AND UNEMPLOYMENT -- OCTOBER 2009(Data Released on November 20, 2009) Regional and state unemployment rates were generally little changed or higher in October. Twenty-nine states and the District of Columbia recorded over-the-month unemployment rate increases, 13 states registered rate ...
  3 hours ago

• Public Starting To Realize Stimulus A Failure

  
  The Whig — Authority: 518
  Detroit News: Editorial: Stimulus aid isnt creating jobs More evidence emerges that stimulus aid isnt creating jobs; bad numbers shouldnt be used to support bad policy It would have been wiser and more effective for Congress to leave out of the stimulus package the billions of dollars it approved for soft social ...
  4 hours ago

• Deflation continues to haunt Japan

  
  Hot Spot — Authority: 141
  Japan has a very large aged population that is not revenue generating and has been a big drain on the economy for the last decade. And the global economic crisis in the last two years has only aggravated the situation and Japan has been forced to keep the interest rates at record low levels. In fact the abnormally ...
  4 hours ago

• Britains debt spiral

  
  The Adam Smith Institute Blog — Authority: 641
  The OECD has issued a warning to Britain that it could stand in danger of entering ‘debt spiral.’ While this may come as a surprise to many – perhaps most of all to our beloved Mr. Brown – many of us, not living in blissful ignorance, have been warning of this for years. According to the best estimates, ...
  4 hours ago

• Directory of SNOWMOBILES in BRITISH COLUMBIA Updated!

  
  REALLY Made IN Canada NEWS — Authority: 154
  The REALLY Made In Canada ™ Canadian Business Directory has been updated to include the latest local listings for Snowmobiles in British Columbia, Canada. These local British Columbia business listings are just some of the over one million Canadian businesses and organizations providing Canadian goods, Canadian ...
  4 hours ago

• Mayor Kenoi Needs To “Clean House” At The Public Works Building Division

  
  The Kona Blog — Authority: 134
  It boggles my mind why the community has little interest in commenting  on  Mayor Kenoi’s proposed county ethics rules reform .The only person who testified was the attorney representing the one of the county employees who will be affected by these changes.I strongly feel these rule changes need to be enacted ...
  4 hours ago

• More foreclosures in our future?

  
  Search Amelia Island News — Authority: 151
  In 2005 there were 1.27 million foreclosures and now we are looking at 7 million properties behind in mortgages and poised for foreclosure.
  5 hours ago

• India will be among top three economies by 2050: US think tank

  
  Thaindian News — Authority: 710
  By Arun KumarWashington, Nov 21 (IANS) Discerning a dramatic shift in the world’s economic balance of power, a US think tank has projected that by 2050 India would become one of the three largest economies of the world with the US and China.Growing at a projected rate of 6.19 percent between 2009 and 2050, India ...
  5 hours ago

Comments about economy