Towards Scientific Economics

DOI: 10.4236/me.2013.44033   PDF   HTML   XML   3,746 Downloads   6,578 Views   Citations

Abstract

Economic thought still confronts with new problems arising together with the advancement of civilization. Economic matters are driving forces of human interactions so economics is expected to reveal why people, companies, banks, and governments behave in particular modes. B. Khumalo [1] is the author of a recent article in which he proposes a definition of economics that is adjusted to present times. Our article continues these considerations, since both terms: capital and resources have essentially changed their meaning. Though economics is still the study of a production and a distribution of goods, we recognize that labor of people and assets, which lead to the increase of concentration of capital in products is a driving force of economic activities as well. Essential explanations of a core triad: capital, labor and money accompany the proposed definition of economics.

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M. Dobija and B. Kurek, "Towards Scientific Economics," Modern Economy, Vol. 4 No. 4, 2013, pp. 293-304. doi: 10.4236/me.2013.44033.

Conflicts of Interest

The authors declare no conflicts of interest.

References

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