Economics has revealed a great truth about the natural law of human interaction: that not only is production essential to man's prosperity and survival, but so also is exchange.
Sentiment: POSITIVE
That human beings seek their own well-being and that of those close to them is not an especially provocative discovery. What is important is that this universal aspect of human nature persists no matter what economic system is in place; it merely expresses itself in different forms.
The human world lives in a framework called global economics. We live in a system based on GDP, which drives consumption. it causes people to compete with each other through trade in a way that they all grow.
Economics is a strange science. Our subject deals with some of the most important as well as mundane issues that impinge on the human condition.
Trade has played a vital role in the social evolution of humankind. It allowed people to specialise, which raises both skill levels and efficiency. It brought people from different lands together, co-operating rather than competing over resources.
When you talk about the economic process of a society, sometimes we separate it into two stories. One is about monetary variables. But then, we very often assume the underlying arrangement, the other variable, is 'perfect competition,' which means people do whatever they are supposed to do.
The premise is simple: One economy and one environment, and they're interdependent.
Commerce, trade and exchange make other people more valuable alive than dead, and mean that people try to anticipate what the other guy needs and wants. It engages the mechanisms of reciprocal altruism, as the evolutionary biologists call it, as opposed to raw dominance.
Capitalism and market forces are very powerful in producing wealth and innovation. But we need to ensure that these forces act in the common interest.
'Economics for Everybody' begins with understanding God's principles for organizing His creation and what that means for us as creatures and stewards.
We propose in the following Treatise to give an outline of the Science which treats of the Nature, the Production, and the Distribution of Wealth. To that Science we give the name of Political Economy.
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