Chapter 51: What is a good economy?

Chapter 51:

What is a good economy?

In basic economics, we learn that an economy rises and falls, from time to time, according to a business cycle. As such, politicians and economists are keen to design and control their economy to remain positive as much as possible with numerous policies and economic means. In reality, there is no specific theory or certain formula which expresses how we can maintain a good economy because there are various ever-changing phenomena that we encounter in different circumstances. Therefore, this chapter of Dhammonomics will show the related co-factors of economic activities which contribute to a good economy of which politicians and economists should be concerned of.

A good economy usually occurs because of the effective flow or healthy functioning of following socio-economic activities:

(1) production & service (2) selling & purchasing (3) consumption (4) savings, keeping and preserving (5) investment (6) exchange & trading (7) earning & spending (8) acquiring, utilising and maintenance of resources (9) working, recreating and retiring (10) currency status (11) subsidising and market intervention by authority or government (12) lending & borrowing (13) funding, banking and financing (14) interaction upon intra or international relations like import & export (15) legal action & litigation (16) legislation & enforcement (17) etc. such as speculation.

The above socio-economic activities need to be noted in order to be managed effectively. Thus, we can maximise the timely performance, worthiness and confidence which promote satisfaction of members of an economy in as many sectors as possible to urge them to behave in certain ways that enhance a good economy within a certain range of periodical linear or cycle of time frame.

Copyrighted by Pirajak Tisuthiwongse

The Dharma Wizard & Economic Commando

28 February 2023