The Economy Series

Though the subject of economics may appear complex and specialized, the economy, which refers to the interaction of buyers & sellers or consumers & producers, can be understood by anyone if viewed from the framework of three basic workflows.  These three workflows are:...

All consumption falls within a continuum between needs and wants.  Needs are those things that are critical for survival.  Wants are not critical, though they may have personal importance.  Examples of needs are: food, clothes, and housing.  Examples of wants are: jewe...

Consuming is necessary because survival requires certain resources—food, water, and shelter to name a few.  Often, there is an inclination to consume everything.  This inclination ought to be suppressed whenver possible.  It is common to believe that the same quantity...

Saving is necessary but not easy.  Humans are visual creatures, and they tend to crave what they see.  Applying restraint to the desires of the self is the very heart of saving.  For some this restraint comes naturally, for others not so much.  There are two common dif...

Resources are scarce.  If resources are only consumed, they will eventually be exhausted.  Combining consumption with saving is a better tactic.  It delays the point of exhaustion to a later time.  What saving does not do is increase the quantity of resources....

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