For sure, I notice that a lot of people in the west don’t actually understand the fundamentals of what an economy are. It’s not GDP, or stock markets, money supply, or all the other junk people tend to talk about. What actually matters is resource and labour allocation. You have a certain number of people living in the country, and these people have access to the resources that are available to them. The job of the economy is to manage allocation of labour to transforms the available resources into things people need to live. If the economy isn’t allocating labour in a way that results in people having their needs met, then you start having problems.
For sure, I notice that a lot of people in the west don’t actually understand the fundamentals of what an economy are. It’s not GDP, or stock markets, money supply, or all the other junk people tend to talk about. What actually matters is resource and labour allocation. You have a certain number of people living in the country, and these people have access to the resources that are available to them. The job of the economy is to manage allocation of labour to transforms the available resources into things people need to live. If the economy isn’t allocating labour in a way that results in people having their needs met, then you start having problems.