Abstract
Economics is a normative knowledge that aims at the creation of welfare with scarce resources. An economic system covers interactions between production, consumption, and their institutions, within a country, region, or community. Throughout the last century, the income of global economic systems has quadrupled after price correction, though achieved at the cost of social conflicts and degradation of natural qualities. Rarely is nature at the core of economic thinking though it is essential to welfare. Herewith, economic circulation and distributions are introduced, followed by presentations of economic cycles and growth, all with particular attention to nature and bioresources.
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Notes
- 1.
More explanation is on YouTube (3 parts): https://www.youtube.com/watch?v=ail9Jr9UjiM.
- 2.
https://data.worldbank.org/indicator/NY.GDP.TOTL.RT.ZS http://wdi.worldbank.org/table/3.14 (last access 11-12-2018).
- 3.
Basics on the input–output model: https://www.youtube.com/watch?v=U0hGtZqUbSM; an example of calculating a solution: https://www.youtube.com/watch?v=6C1MOD_oKwU; more detailed explanations in a serial https://www.youtube.com/watch?v=G02IRkwmxXw.
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Krozer, Y. (2019). Economic Systems. In: Krozer, Y., Narodoslawsky, M. (eds) Economics of Bioresources. Springer, Cham. https://doi.org/10.1007/978-3-030-14618-4_2
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