Economics is the study of how the business world works: the goal is to develop process models that describe the production, distribution and consumption of goods and services. Economic theories generally come from two primary disciplines: macro-economics, or top-down modeling, and micro-economics, or bottom-up modeling. The Greek root of the word economics can be loosely translated as “good household management.” Governments generally rely on several economic theories to form legislation, depending on circumstances and politics. This forum category provides a place to consider economic ideas and forms of wealth management and distribution. It is not a place to promote political agendas or parties.
“The experience of the past leaves little doubt that every economic system must sooner or later rely upon some form of the profit motive to stir individuals and groups to productivity.”
-Will & Ariel Durant, The Lessons of History, 1968
How do economic policies, and resulting commercial activities, determine growth and retraction of economies? The activities of multiple stakeholders and participants, both public and private, positively or negatively affect the national business environment. Threads in this section discuss current national commercial and economic environmental conditions, as well as how businesses can adapt to continue or foster commercial growth.
This is an “ideas” section to help current and would-be entrepreneurs understand current national economic development trends. Understanding how economies function, on a national microeconomic stage, helps businesses build better models that can leverage competitive advantages during recessionary or expansionary markets; understanding how to forecast developing changes in economic environment.