The fundamental cycle of Economics (PDCW)
Feb 19, 2023
In a nutshell, Economics deals with the cycle of Production of goods and services, distribution of them, consumption of them and as a result generating wealth (PDCW). The generated wealth fuels this cycle to keep it going smoothly. Any activity that takes place in any one or more of these stages, either directly or indirectly, is called Economic Activity. All the other terms/concepts/phenomena in economics are derived and defined from this cycle and walk around this cycle.. The smooth running or hard running or break down or acceleration or deceleration, etc of this cycle decides the economic growth.
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Is crypto currency a friend or a foe to the global economies?
Aug 13, 2022
Crypto currency is a digital/virtual currency which serves the same purpose of physical currency. These coins are encrypted digital files. This wouldn't be in the control of any state since its dynamics is purely driven by objective market forces of demand and supply. So its dynamics can not be molded to favour the interests of humans there by to support their economic systems. So it is not in the favour of humans.
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How the present global economies are not scientific and welfare in nature..
Jun 01, 2021
The present global economies are unable to ensure the subjects, employment, free education, free health, food, etc, though it is possible to ensure. The age old tradition of eating of small fish by the big fish is continuing. Hence these economies are not scientific and welfare economies. That is why these economies tremble even to a small gust of wind like the COVID-19 episode.
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Rational Individual Budget Driven Economy (RIBDE) for sustained and robust Economical Growth
Jan 08, 2021
The flow of wealth and labour should be uniform and rational. This will enable every nuke and corner of the economic system, to participate actively in the economic activity. If it happens so, sustained and robust economical growth can be ensured. The budget of every individual should be desingned in such a way that the wealth flows to the fields in proportion to the labour and population engaged in that field. This will enable all the individuals to actively engage in the economic activity. This will lead to astounding economical growth.
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