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MACRO- MICRO- AND PROJECTED ECONOMICS

MACRO-, MICRO- AND PROJECTED ECONOMICS

More than anything else, the progress of the world in the 21st Century depends on economics. It affects everything and everyone, whether natives in darkest Africa, striving to avoid encroaching urbanization, to the middle aged managers, now out of work in America because of downsizing. While we tend to consider macroeconomics as a worldly overview of resources, Microeconomics is a far more personal aspect of the world economy in general. What we earn, what we spend, what we save, how diligently we work and retain our jobs is all part of the economic system that controls our daily lives.

Because of the wide range of subjects, the following pages are more a generalized overview, with some specific recommendations, based on the "new" economics that the September 11 events have brought about.

First of all, we need to realize that economics and forecasting is now closely tired to the new high-tech age, a.k.a. as The Computer Age, which is not a new Industrial Revolution, but merely an expansion of it. It is not that we do different business, it is that we do business differently. Perhaps this is the key to economic survival, regardless of circumstances. Rather than think of this new high-tech infusion in the world's economic institutions, one should consider this the age of a new type of entrepreneur. As Thorstein Veblen wrote: "The material framework of modern civilization is the industrial system, and the directing force which animates this framework is business enterprise." (Veblen 1) Business enterprise, as we enter the 21st century is nothing more than creating an acceptable combination of product or service availability matched to consumer needs.

What is interesting in this new system of business enterprises is that human capital- always thought of as one of the most precious and valuable sources of a company's success and dominance has been reduced to computer pr...

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MACRO- MICRO- AND PROJECTED ECONOMICS. (1969, December 31). In LotsofEssays.com. Retrieved 21:04, July 15, 2019, from https://www.lotsofessays.com/viewpaper/1695294.html