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Economic Theory
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An Introduction Let's define Economics as "the study of the complex interactions between people with respect to the distribution of wealth". From this definition, it is clear that economics obviously interfaces with other studies such as sociology, law and political science -- that is, how people interact with each other, both individually and in groups. The notion that a culture or civilization must have some type of "socio-economic-political framework" is fundamental. Over the course of history, civilizations have operated within a variety of such frameworks --
The rationale for adopting a particular "socio-economic-political-ism" at any particular point in time and place is surely steeped in the prevailing values of that culture, or more likely in the prevailing values of the strongest members of that culture. Of course, some cultures adopted somewhat of a mixed operational system. In this section of our web site, we will explore some of the economic theories that tend to support these various "isms".
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