So every day we get news reports and soundbites of politcians, bankers and anyone else who can get their mug on TV talking about something called an "economy". Their "economy" is is trouble. We must save the "economy". We have a strong "economy". It's obviously a euphamism for something, but what? Can it be defined or is it just a big, scary catch all De-Bono's "black box", trotted out to convince the masses that TPTB are wrestling with something esoteric, way beyond their (the masses) intellect? I get the feeling that if an "economy" fails, the losers will be the talking heads. So what is this "economy" thing everyone's trying to save?
The economy is the exchange of goods and services between people. Money is our shared use of some thing as a reference point for expressing the relative value of all other things. The total amount of debt is far outgrowing the value of goods and services being exchanged. Money is being printed to keep the debt going. Politicians want the total goods and services exchanged to keep doubling every 20 to 30 years to keep up with the debts and money growth.
