EastmidsCommunityCollection's Blog

A collection of info about local community initiatives

Economic theory

Private v Command Economies, Mixed Economies.

Before any specialised topic or subject is approached, we have to reconsider our assumptions about what we are reading or discussing…each academic subject has its own shorthand jargon…those key terms that are so difficult to learn…not quite the same as mechanical, medical or electronic or music terminology (they are often recognisably different) but the use of ordinary words in a completely subject specific way…like we/they couldn’t be bothered to think up new words…it can be confusing…and so is the use of the ‘schools of thought’ like “Keynesian” “Adam Smith”

A gcse revision website like bytesize or s-cool can have enough info to start to read around a subject, an
a-z of terms might help too…but their modelling and experiment details requires more time and effort.

There are some glimpses however into the minefield of academic thought …and it’s not reading for the romantics!!

Presumably the type of economy you are brought up in, or experience as a child is what you know as ‘normal’ or ‘ordinary’ these systems are vastly different around the globe and even in one country like the uk, a primary industry-farming or mining family would see their community differently from a wealthy city worker or factory worker. What we wish for and expect in life, what we hope to achieve…how we want to bring a small amount of community funding may be the tip of some economic programme being rolled out as social administration and economics.

It’s been happening for centuries…its a question of how much information is required, and can the ordinary people have

a) a right to have people amongst them who can study learn and feedback

b) an ability to live with the ‘right’ or social norm to gather together to enjoy themselves.

c) the ability to work together to provide decent lives.

(see the universal declaration of human rights and the Europa website concept of Governance which should underpin european activities at http://ec.europa.eu/governance/index_en.htm )

Back to Economic theory…there are

Words that are the same but have vastly different meanings e.g.

Cosmopolitan as used in a dictionary definition sense…or here as used in economic theory (i.e. ordinary or academic language; subject specific jargon or specialised-economic-shorthand language)

and then we find we are in the Realm of Social Economics



and then the realm of civic capital



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