The economy is the realized social system of production, exchange, distribution, and consumption of goods and services of a country or other area. A given economy is the end result of a process that involves its technological evolution, civilization's history and social organization, as well as its geography, natural resource endowment, and ecology, among other factors. These factors give context, content, and set the conditions and parameters in which an economy functions.
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Kimberly's US Economy Blog
Kimberly's US Economy Blog. By Kimberly Amadeo, About.com Guide to US Economy. My Bio ... ( Source: Reuters, World Economy in Severe Recession, April 23, 2009) ...useconomy.about.com/b/Spain Economy Watch
... Economy Watch Blog. Below you will find the normal chronological blog ... He also contributes to the Indian Economy blog . His personal weblog is Bonobo Land. ...spaineconomy.blogspot.com/China Economy 中国经济
China Economy 中国经济. A blog on the latest Chinese economic news. Wednesday, April 29, 2009 ... Economy, not rights, rules the new China-US world ...ceconomy.blogspot.com/The Indian Economy Blog
The Indian Economy Blog. April 22, 2009. Online Campaigning & The Indian Elections ... Centre For Monitoring Indian Economy. Ministry of Finance, India ...indianeconomy.org/Economy Blog
Economy Blogs. Hedge Funds. Fundamental Analysis. Housing Blogs. Technical ... Sites of Webalalza: Economy blogs · Fundamental Analysis · Technical Analysis ...www.webalalza.com/economyblogs/The economy is the realized social system of production, exchange, distribution, and consumption of goods and services of a country or other area. A given economy is the end result of a process that involves its technological evolution, civilization's history and social organization, as well as its geography, natural resource endowment, and ecology, among other factors. These factors give context, content, and set the conditions and parameters in which an economy functions.
Today the range of fields of study exploring, registering and describing the economy or a part of it, include social sciences such as economics, as well as branches of history (economic history) or geography (economic geography). Practical fields directly related to the human activities involving production, distribution, exchange, and consumption of goods and services as a whole, range from engineering to management and business administration to applied science to finance. All kind of professions, occupations, economic agents or economic activities, contribute to the economy. Consumption, saving and investment are core variable components in the economy and determine market equilibrium. There are three main sectors of economic activity: primary, secondary and tertiary.
Etymology
The word "economy" can be traced back to the Greek word "one who manages a household", derived from οἴκος, "house", and νέμω, "distribute (especially, manage)". From οἰκονόμος "of a household or family" but also senses such as "thrift", "direction", "administration", "arrangement", and "public revenue of a state". The first recorded sense of the word "economy", found in a work possibly composed in 1440, is "the management of economic affairs", in this case, of a monastery. Economy is later recorded in other senses shared by οἰκονομία in Greek, including "thrift" and "administration". The most frequently used current sense, "the economic system of a country or an area", seems not to have developed until the 19th or 20th century
Ancient times
As long as someone has been making and distributing goods or services, there has been some sort of economy; economies grew larger as societies grew and became more complex. Sumer developed a large scale economy based on commodity money, while the Babylonians and their neighboring city states later developed the earliest system of economics as we think of, in terms of rules/laws on debt... legal contracts and law codes relating to business practices, and private property.Sheila C. Dow (2005), "Axioms and Babylonian thought: a reply", Journal of Post Keynesian Economics 27 (3), p. 385-391.This was the beginning of the price system as is known today... when it was formalized.
The Babylonians and their city state neighbors developed forms of economics comparable to currently used civil society (law) concepts. They developed the first known codified legal and administrative systems, complete with courts, jails, and government records.
