Economics was essentially developed to pull society away from another occurrence of an event similar to the Great Depression. This "system" became very successful, very fast. With hard work and patience, John Maynard Keynes and Harry Dexter White achieve their goal. "It unleashed an era of unprecedented economic growth and stability for advanced market economies, as well as for scores of countries that would become newly independent.", this statement from "The Use and Misuse of Economic Ideas" explains the positive aspects of Economics. Economics began making a difference in July of 1944.
The word "Economics" has multiple definitions, all of which provide an understanding of this collections of models. The models in economics describe the "science side". "Economics is a science of thinking in terms of models joined to the art of choosing models which are relevant", this quote by John Keynes helps the reader understand HIS definition of the word "Economics'. Life and money come together in economics.
Societies and businesses could not thrive without economics.
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The stock market is known to crash, but has not recently due to the fact the economy is growing stronger each day. The American people do their part every single day to improve our economy. From buying a bottle of water, to donating money to a charity, or to building a house, these all can affect the economy in big or little ways. Everyone is directly affected by the economy in some way or another. Humans consume, distribute, and produce products every day. The economic system in the United States helps organize and prioritize the flow of life. Economists are people who specifically prioritize the importance of the economy. Economists practice a science, they are very important in today’s society. With an understanding of the topic, economists further their studies of