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.

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Original Technorati articles tagged “economy”

• in Politics
  Obama: At Least The Recession Never Became a Depression
  The more often things change, the more they stay the same. Right Obama?
  by cebsilver / on Jul 26, 2010
• in Finance
  Hope is Beautiful, Unless...
  Hope is beautiful, unless it is fantasy in which case it can be ugly. To some extent our hopes have been rewarded. To a larger extent though our hopes tied with the government have languished.
  by kalespress / on Jul 16, 2010
• in Politics
  If Obama Honeymoon is Over, Is Divorce Next?
  Will the Obama administration and Congress learn from past mistakes? Many voters aren't betting on it.
  by deucefive / on Jul 15, 2010

Latest blogosphere posts tagged “economy”

 

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  AutoBrag Blog — Authority: 148
  Question From Gary: New or Used? used Buy or Sell? buy Year? 04 05 06 Make? BMW Model? 325 convertible Trim? automtic 2 or 4 Wheel Drive? Automatic or Manual? Your Question? 04 – 75k miles ,05-60k miles,06-45k miles Queen of the Road: Hi Gary. Welcome to AutoBragBlog, the car price authority! 2004 BMW ...
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• 11,000 Jobs Created!

  
  Bloodthirsty Liberal — Authority: 152
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  Chasing the Wind — Authority: 93
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  Early Retirement Extreme — Authority: 545
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  MoJo Blog Posts: kevin drum — Authority: 148
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  Cuba Journal — Authority: 447
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• [Video] China is Next Silicon Valley, Stanford Professor believes

  
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  The Washington Independent — Authority: 708
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