The Economics reference article from the Simple Wikipedia on 01-May-2004
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Economics is the study of the decisions people make so they can get what they want. It or ethics is the most basic social science. Both economics and ethics explain why people do what they do, and very often they disagree.

Table of contents
1 3 Basic concepts
2 History
3 Current major issues and subfields
4 Branches of economics

3 Basic concepts


Current major issues and subfields

Economic "choice" includes some things are needs, for example food. Energy economics studies these needs on their own, and is a part of ecology.

Most study in economics studies supply and demand, focuses on transactions, which are offers and requests (this is microeconomics). Study at this level often assumes that nature's services of resource renewal and waste disposal continue in the background whatever humans do. The field which does not assume this, studying it directly, is called energy economics.

Macroeconomics often seems to say that there is not any ecological thing to stop on human activity on Earth, or that energy or creativity matter at all.

For these and other reasons relating to poor grounding in ethics, ecology, biology and a lack of a model of the human body that could differentiate human needs from "wants", many consider economics in its present form to be autistic, and not an effective or useful way to make decisions. For instance such measures as GDP lead to uneconomic growth if used to regulate money supply. This view is increasingly common even among mainstream economists, none of who would defend the use of these measures by government in monetary policy.

Economists and ecologists increasingly cooperate to measure nature's services, price of Earth, price of life, energy subsidy, and also human capital and human development. These come together in measuring well-being and advocating monetary reform based on this kind of measurement. This has led to better understanding of the productive capacity of living things as capital (economics), and of human waste and the ecological footprint that each human being uses on Earth.

This capital model is of particular interest in urban economics which studies "what makes a city work". One output of this work are the Bohemian Index and Gay Index which measure how well a city supports the artist and homosexual communities in it. This has proven the single most reliable indicator of economic growth as measured by GDP. Which may indicate both issues with GDP, and the key role of creativity in all economies.

Branches of economics