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 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”

• U.S. third-quarter GDP growth is revised downward, but its still growth

  
  DailyFinance — Authority: 805
  Filed under: Economy More decent news for the economy: U.S. GDP increased a revised 2.8% in the third quarter, the U.S. Commerce Department announced Tuesday. Thats down from the governments initial 3.5% GDP growth estimate, but its a level that still indicates an adequate expansion of commercial activity. A ...
  53 minutes ago

• Survey Indicates Joblessness Will Soon Bottom Out

  
  Business Opportunities Weblog — Authority: 446
  The National Association for Business Economics (NABE) released a study which shows that net employment losses are expected to rebound in the first quarter of 2010, the Associated Press reports. The survey predicts that employers will start adding to their payrolls shortly after that. But don’t expect them to ...
  55 minutes ago

• Third-Quarter U.S. Growth Revised Lower

  
  NYT > Theater — Authority: 912
  The government said the economy grew at a 2.8 percent pace, instead of the 3.5 percent growth rate it estimated a month ago.
  1 hour ago

• TARP repayment plans: Too late now to change public sentiment?

  
  DailyFinance — Authority: 805
  Filed under: Company News , Economy , Investing , Bank of America , Citigroup , Wells Fargo & Co. As TARP nears its end on Dec. 31, discussions about extending it -- or killing it -- are flooding the halls of Congress and the White House. Treasury Secretary Timothy Geithner can ask to extend TARP until ...
  1 hour ago

• Ron Paul Wins? The Stimulus Backlash

  
  The SiliconANGLE — Authority: 146
  [Editor’s note: Jeff Nolan is a longtime member of the SiliconANGLE community, and many of his posts we syndicate from his personal blog.  If you are interested in the politics of economics, there’s a whole other side to his posts that get a lot of air on his personal blog that don’t always make it over to ...
  1 hour ago

• India’s growing economy

  
  The Mediavore — Authority: 512
  With Indian Prime Minister Manmohan Singh in the US for a state visit, The Newshour considers the country’s economy. Newshour correspondent Fred de Sam Lazaro reports that India’s middle class is benefiting from strong growth, even in the midst of the global economic crisis. But for hundreds of millions of ...
  1 hour ago

• What Goes Up…

  
  Matthew Yglesias — Authority: 804
  Jim Hamilton points to new research from Dastrup & Carson indicating that one of the strongest predictors of decline in housing values during the crash is simply the extent of the increase during the boom: All told, extent of price increases explains over half the variance in the extent of declines. ...
  1 hour ago

• Recoverys pace slower than first thought

  
  Business Finance & Economy - business.marc8.com — Authority: 166
  Remember the economys return to growth last quarter? Well, it wasnt as energetic as first thought.
  1 hour ago

• BLOWN AWAY: Why wont U.S. corporations invest in U.S. workers?

  
  Facing South — Authority:
  Phil Mattera, Dirt Diggers Digest In late October the company, A-Power Energy Generation Systems, announced that it had been chosen to supply some 240 turbines for a large windfarm planned for Texas. That would have been just another in a longseries of manufacturing-goes-to-China stories, but for reports that the ...
  1 hour ago

• Video: The Dollar Bubble

  
  WHAT REALLY HAPPENED — Authority: 560
  The following documentary was created by the National Inflation Association. In it you’ll see how dollar inflation has adversely affected the United States and how our country is headed for a total financial collapse... WRH permalink
  2 hours ago

• Directory of MANUFACTURERS’ AGENTS in ALBERTA 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 Manufacturers’ Agents in Alberta, Canada. These local Alberta business listings are just some of the over one million Canadian businesses and organizations providing Canadian goods, Canadian services, ...
  2 hours ago

• Economics of the Milk Racket

  
  The Iconoclast Investor — Authority: 128
  Today I’m going to wade into a subject that is deep and wide, and about which most of us know very little–the economics of the milk industry in the U.S. My interest in this topic was piqued some time ago by photographs of farmers dumping milk.  I’m sure you’ve seen the pictures, but I’ll bet, like most ...
  2 hours ago

• The Importance of Context, Dollar Dollar Bills Edition.

  
  TAPPED — Authority: 153
  Via Paul Krugman , this graph may help put some of the recent dollar panic in perspective: Krugman observes that the dollar is more valuable now than it was in early 2008, but at that time the financial press was not freaking out about it the way weve seen recently. You could argue that our current economic ...
  2 hours ago

• House Finance Comm votes to Audit Fed

  
  Professor Elam — Authority: 140
  Two outsiders are winning converts to audit the FED , their bill passed the committee despite opposition from the FED itself and Barney Frank, no surprises there. The US has had three central Banks. Andrew Jackson helped kill the first one. Congress did not renew the Charter for the second. This one the FED was ...
  2 hours ago

• Take Job Numbers with a Jigger of Salt.

  
  Across the Great Divide — Authority: 472
  I was standing near the front of a long line waiting to be called for my turn. Two clerks out of about 10 were helping only business customers, and one, whose station was open, began calling the names of various companies. No one responded. Then, he spotted someone just behind me. "Bob, Ive worked with you a number ...
  2 hours ago

• Video- President Obama Speaks to Press After Cabinet Meeting

  
  The Political Carnival — Authority: 686
  
  2 hours ago

• GDP Revisions Keep Recession at Bay

  
  24/7 Wall St. — Authority: 697
  This morning we just received the first revision to third quarter Gross Domestic Product.  The original unrevised figure was reported +3.5% for Q3, and the revision came in at +2.8%.  Bloomberg had a consensus estimate of 2.8% for today’s revised data, while Dow Jones was at 2.7%.The price index for personal ...
  2 hours ago

• Obama’s Afghan Decision

  
  Watch your favorite videos on the internet. — Authority: 180
  The White House is reporting that President Obama has made his decision regarding additional troops in Afghanistan. Bill Plante reports.
  2 hours ago

• Holiday Spending Worries

  
  Watch your favorite videos on the internet. — Authority: 180
  While housing and job markets remain in a slump, consumers may be holding back on holiday spending, reports Bianca Solorzano.
  2 hours ago

• Bill Thwarting Too Big To Fail Is Faltering

  
  That's My Congress — Authority: 479
  The Too Big To Fail, Too Big to Exist Act has no cosponsors in either house. As much as many members of the House and Senate complain about being victims of corporations that are "too big to fail" , they arent willing to take the action to rescue the American economy from being dominated by these huge yet weak ...
  2 hours ago

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