A brief history of economics allows us valuable perspective on the nature and methods use in economic reality.
It is worthy to note that economics is not merely a monetary reality. Economy by definition encompasses management of affairs and expenses, thrifty use of material resources, efficiency.Most notably, the definition includes the mode of operation of something and systems of interaction and exchange. By extrapolation we can see that economy deals with how things interact. This includes money and material.In the context of human exploitation of resources, which is the basis of human material productivity, our understanding of economy, in order to be complete, must include global resource capacity, and rate of human consumption of those resources along with our monetary economy and well being of our human society.Only in a complete consideration of all economies of material wealth of earths resources and human capacities can we begin to understand what a healthy economy might actually be.
