iCitizenForum by Colonial Williamsburg

resource-use cycle

Dear Jared: I have read most of your book, CRUNCH, and find that it is a really good representation of conventional economics. You have written well and explained many things in a way that resolves what perplexes most people. I have been thinking outside the box, however. The basic unit of economics is the transaction, but transactions can occur without money being involved. The example I use is that of a mowed lawn. I can pay to have it done or do it myself. In the first case money is involved, in the second a resource has been used that does not involve money.