Economics: Difference between revisions
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imported>Martin Baldwin-Edwards No edit summary |
imported>Nick Gardner No edit summary |
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Economics is an attempt to understand the processes that govern the production, distribution and consumption of wealth. Its ability to do so is limited by two important characteristics of those processes: | |||
* their complexity and variety are often too great to permit anything approaching a comprehensive description; | |||
* they are governed by the behaviour of differently-informed individuals with different motives. | |||
[[Category:CZ Live]] | [[Category:CZ Live]] | ||
[[Category:Economics Workgroup]] | [[Category:Economics Workgroup]] | ||
Revision as of 00:19, 23 September 2007
Economics is an attempt to understand the processes that govern the production, distribution and consumption of wealth. Its ability to do so is limited by two important characteristics of those processes:
- their complexity and variety are often too great to permit anything approaching a comprehensive description;
- they are governed by the behaviour of differently-informed individuals with different motives.