All about economics on the web

By definition from Oxford dictionary, economy is:

noun (pl. economies) 1 the state of a country or region in terms of the production and consumption of goods and services and the supply of money. 2 careful management of available resources. 3 a financial saving. 4 (also economy class) the cheapest class of air or rail travel. 5 before another noun offering good value for money: an economy pack.

Paul Samuelson defines economy as science, that explores how people and society try to employ rare resources, which have many different uses, in order to produce different goods and distribute them among people.

This definition is more or less loosey. There are many other different definitions of economy and you are free to tell your favourite one in the comments below. It is really hard to choose which definition is the best and i do not think it is really that important to know the exact definition of economy. What is important is that you understand what does economy mean in different contexts and that you understand the bacground of economy, with other words how does modern economy work.

Even though, we cannot give a simple few words deffinition of economy, one thing is for sure. Economy is a very complex science. And this is the reason we made this blog. To talk about economy, to talk about questions that raise every day in peoples heads when thinking about economy and to discuss all secrets and tricks that can help one persons success in this fast world of capitalism.

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