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Erschienen in:
2019 | OriginalPaper | Buchkapitel
2. Economic Systems
verfasst von : Yoram Krozer
Erschienen in: Economics of Bioresources
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Abstract
Economics is a normative knowledge that aims at the creation of welfare with scarce resources. An economic system covers interactions between production, consumption, and their institutions, within a country, region, or community. Throughout the last century, the income of global economic systems has quadrupled after price correction, though achieved at the cost of social conflicts and degradation of natural qualities. Rarely is nature at the core of economic thinking though it is essential to welfare. Herewith, economic circulation and distributions are introduced, followed by presentations of economic cycles and growth, all with particular attention to nature and bioresources.