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The head of state must be constantly making vital decisions of economics. But of course he need not himself be a professional student of economics; he need only be an intelligent "consumer" of the (often conflicting) economic information being given him.
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"You cannot build character and courage by taking away a man's initiative and independence." What Economics is. (Samuelson P.A.) Beginners often want a short definition of economics; and in response to this demand, there is no shortage of supply. Here are a few such definitions: 1. Economics, or political economy, is the study of those activities which, with or without money, involve exchange transactions among people. 2. Economics is the study of how people choose to use scarce or limited productive resources (land, labor, capital goods such as machinery technical knowledge) to produce various commodities (such as wheat, beef, overcoats, yachts; concerts, roads, bombers) and distribute them to various members of society for their consumption. 3. Economics is the study of people in their ordinary business of life, earning and enjoing a living 4. Economics is the study of how human beings go about the business of organizing its consumption and production activities. 5. Economics is the study of wealth. 6. Economics is the study of how to improve society. The list is a good one. Yer a scholar can extend it many times over. It is always hard to compress into a few lines an exact description of a subject, one that will differentiate its boundaries from those of other disciplines and convey to the beginner al the things it is. Economics certainly does involve all the elements stressed in these various definitions, and all those implied in the larger list that could be compiled. Quality of Economic Life. Even before studying economics, everyone will have heard of the Gross National Product (GNP). This purports to measure the total of all goods and services produced each year in a nation. Although measured in money, it can tell us much about real goods and services, food, clothing, penicillin, and so forth. But these days many critics of political economy have come forth. They deplore materialistic concentration on the quantity of economic goods. In the striking words of a young radical: "Don't speak to me of Gross National Product, GNP. To me GNP stands for Gross National Pollution." What are we to think? Must modern economics make a fetish of quantity at the expense of quality of life? Or can we correct the official statistician's measure of Gross National Product so that it becomes more of a measure of Net Economic Welfare? That is, can we supplement GNP by a more meaningful measure NEW? Light and Fruit This discussion has illustrated an important truth: Every national issue mentioned requires economic understanding to make progress in dealing with it. A person who has never made a systematic study of economics is handicapped in even thinking about national issues; he is like a deaf man trying to appreciate a symphony: give him a hearing aid, and he may still lack talent, but at least he has a fighting chance of sensing hat music really is. The head of state must be constantly making vital decisions of economics. But of course he need not himself be a professional student of economics; he need only be an intelligent "consumer" of the (often conflicting) economic information being given him. Related Sites: Short biographies of famous men and women Related Articles: Yahoo! News Search Results for learn about management Yahoo! News Search Results for learn about management Cosmetic Bootcamp Marketing and Management Symposium Announces Dates for 2008... The Cosmetic Bootcamp LLC announced today that it will host its annual marketing and management meeting December 11-14 at the Four Seasons Hotel, Las Vegas. Superclick Rooms Under Management up 23% Fiscal Year-to-Date (PrimeNewswire v... MONTREAL, Aug. 14, 2008 -- Superclick, Inc. , a technology leader in IP infrastructure solutions to the hospitality industry, announced that it has surpassed 116,000 rooms under management, demonstrating added-room growth of 23% for its fiscal year-to-date. Agency Management Roundtable Brings Online Marketing Seminar to Scottsdale (P... Agency Management Roundtable (AMR) to Partner with Interactive Marketing Agency Sitewire in two-day Online Marketing Seminar Newsfeed display by CaRP Other Articles in this section: Small business Who doesn't dream of owning their very own business? Marketing a business Whenever anyone starts off a business, one of the first aspects they concentrate on is getting new clients. How-to manage people Well, if you are in a managerial position, then you're probably well aware of how hairy things can get. Come on, let's face it; no one really wants to do what others tell them. Self employment I love being in charge of myself and only having to worry about clients, and there is no supervisor other than myself looking over my shoulder. Learn from Home at Mc2elearning.com |
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