The Economy: Much More Than Money

Abstract

The economy is what keeps the world as we know it functioning. Our daily lives are heavily affected by the economy, both locally and globally. Some people think that the economy is mostly concerned with money, but in fact it is much broader than money. The economy relates to very fundamental issues concerning human life, such as human wellbeing and equality between people and groups. In this article, I will give you a taste of the ways in which economists view human wellbeing. I will then explain why, when we study the economy, it is not enough to look only at individuals or at groups of people—we need to do both. Finally, we will discuss the future of the economy, and I will share some tips that I have learned during my scientific career.