just wondering what the scenario would be.
2007-12-06 23:17:01 · 8 answers · asked by Kuikui 2 in Social Science ➔ Economics
It is tempting to answer "a good deal better off", but the fact is that with mankind established on this earthly biosphere, economics in the macro- and micro- forms are physical realities, just as real as the air we breath.
Without this kind of physics there would be no means for people to live together without trading or sharing (rather than following the so called "laws of the jungle"), and it would result in our quality of life being close to that our precendents had when they first came down from the trees.
In view of this physical approach, it is a wonder why professional economics is not a more exact science, and it seems to me that a great deal is lacking in how the academics view it. Perhaps this is because of private interests from those who support these institutions of higher learning.
2007-12-07 02:04:44 · answer #1 · answered by Macrocompassion 7 · 1⤊ 0⤋
Economics like a science begins at the end of XVIII century, but before that there was Mercantilism, an intellectual activity seemed to economics...
In the age of feudalism, the economics activity were tabu but it were allowed agriculture so economics thought were ..prohibited......before feudalism there were slavery and the owners of slave applied economics principles to obtain the most high production...and mistreat too...
we all the time apply economics principle because we do not have all we want...The human ever will have material necessity and thinking in a economical solution is the first way to attenuate it...
A world with out economics is a world where all the people have they want or......a world where the material wish and material necessity were annulled
2007-12-07 06:34:26 · answer #2 · answered by CSI - Economics 4 · 1⤊ 0⤋
Pretty much the way it is now. Economics is the study of the economy, but unlike physics it has little predictive capability, it just explains why what has already happened, happened. People acting in their own self interest determines economic activity, not theory.
2007-12-07 01:09:20 · answer #3 · answered by meg 7 · 1⤊ 0⤋
I don't believe a place could exsist, b/c economies are everywhere. It's an idea that surrounds things such as trade, production, and spending. Even if you didn't have money (physical stuff) you would still use trade. Unless everyone was independent and just made everything they had, but that hasn't been a world wide thing since Ancient times.
2007-12-07 05:42:50 · answer #4 · answered by amanda w 2 · 1⤊ 0⤋
Less intelligent.
Economics is the study of the economy, it would not eliminate economic activity, just reduce the effectiveness of it.
The economy would not function as well w/o having researched and found ways to make trhings work better- that means things would cost more, productivity would be lower, standard of living not as good...
2007-12-07 00:21:14 · answer #5 · answered by Anonymous · 3⤊ 0⤋
Adam Smith essentially invented economics in the latter part of the 18th century, but the world was productive before him.
2007-12-07 01:50:06 · answer #6 · answered by Anonymous · 1⤊ 0⤋
Dude, economics is like time. It's hardwired into the universe.
2007-12-07 00:52:01 · answer #7 · answered by Anonymous · 1⤊ 0⤋
there would be no economy...
2007-12-06 23:19:50 · answer #8 · answered by Sam R 3 · 0⤊ 1⤋