flaska67: economics?
economics is merely allocating resources but it is much more then that
Answers and Views:
Answer by bmwdriver11
So what is the question here? At a Micro level it may seem like more than that, but at a Macro Level, it really does play out that Economics is the study of competing for limited resources.
Whether one agrees or not, I define economics as study of nature, properties, composition, laws and classification of wealth. Of the God’s four manifestations : the matter, the energy, the wealth and the soul, it is only the study of wealth that is neglected by man. Law of Conservation, Law of Equilibrium and other general laws and properties are totally neglected. Economics started studying application of wealth without knowing or understanding the nature, properties, laws, composition and classification of wealth. Had it been defined this way, economics would have become a pure material science. Economics would have gained credibility.
It is my question to economists: Is loss a form of wealth? If not why is it measured or expressed in units of wealth? What are the units of measurement of non-wealth? If loss is wealth what is the importance of words Value in Exchange in the definition of wealth?
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