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Understanding Economics

A contextual understanding of economics is required in order to comprehend the scope and extent of the reach of economics and how humans should perceive economics in order to begin to understand and manage the economic systems that are involved in our every day existence.

First and foremost, one must understand that economics reaches far beyond monetary systems. Money itself is not economics. economics includes systems methods and the interplay between systems.

Money is a medium of exchange.

Money is Not Economics

Once you understand that money is not economy, you can begin to see that the value of any given resource is not based on the money used to exchange the resource but the value of the resource.

Value is in this context is the relative worth, utility, or importance of a given resource.

Resource & Commodity

Resources are the components of the system within we exist. This includes air, water, minerals, agriculture, it even includes knowledge, understanding, and methods and means by which things are made more or less efficient and effective. Economy is the balance of systems and methods in relation to commodities and resources.

Keys to Understanding Economics

  • Understanding the components
  • Understanding the relationships
  • Understanding the needs
  • Understanding the capacities

When combined, the relationships between these understandings give one a picture of the scope of economics and the stability of the relationships in that economy.

  1. Air
  2. Food
  3. Water
  4. Materials
  5. Methods
  6. Capacity
  7. Time

The modern understanding of economics handicaps ones ability to understand the critical relationships between the given materials and methods. Given the timer component of economy, one can measure based on consumption rates and needs against capacity to see the the economy of the given interaction is healthy and sustainable or unhealthy and depletive.

Finally, the most important components of understanding components is measuring. In order for this understanding to be possible one needs the capacity to see the components. This requires:

  1. Transparency
  2. Accountability
  3. Justice

In other, words if we as humans are to participate in the global economy of materials and methods in a healthy manner, we need to understand what reason can be applied to controls, ownership in the exchange of goods and services of materials and methods, and what is possible in the balance of systems and methods with regulatory capacity that is unbiased by transparent or manipulative forces.

Summary

Healthy economy requires mechanisms of balance and integrity. This enables a just natural economic capacity. This overview is certainly an oversimplification but may serve to give a foundation to the concept and scope of economy and its fair and just use as well as its general nature.

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