Economics is an examination of scarcity, of limitations: If everything was unlimited and available to all, economics would have served no purpose to mankind. Scarcity along with desirability - builds the foundation of economics, from which the most basic law of demand and supply originates. The scarier a resource is and the more it is desirable, the higher is its economic value. Not until very recently, water was abundant for human consumption and was worthless. When the supply of freshwater diminished, its value grew leaps and bounds. Now multi-million dollar industry thrives on the water as its sole product. One of the richest men in the world sells water.
No wonder as a subject it haunts many students, as does maths, because of the artificial nature of their inquiry. Life is not their primary concern. By definition, nature is synonymous with abundance, but the needs and greed of man create scarcity. In any case, economics is a necessary academic evil. A good and prosperous economic condition facilitates a healthy social and individual life. Death deprives life of quantitative abundance, granting it immense value and thus bringing it under the domain of economic evaluation.
‘Lifeconomics’, is an attempt to find ways and means to establish microeconomic stability in the modern social scenario where the macroeconomic setup is that of a knowledge economy.
The knowledge economy thrives on intellectual capital, which makes education the most profitable investment in current times. In these changing dynamics, our prosperity depends solely on our intellectual skills and productivity. Ignorance is no longer bliss. Information is the new currency, desperately knocking on doors, seeking our attention. In this context, ‘lifeconomics’ intends to be an introspective analysis to ascertain physical, mental and spiritual affluence. So let’s take this opportunity to delve into a study of life and all related dynamics.
The relevance of Lifeconomics
As defined already, Lifeconomics is a systematic practical approach to establishing microeconomic stability. But, what is microeconomic stability? A luxurious and desirable lifestyle for your entire household is the basic premise for microeconomic stability. A healthy meal that nourishes your body. A good home that provides you with a haven, a small space in the grant universe where you find solace and opportunity to rest and reproduce. A surrounding, a neighbourhood that ensures your survival and protection from dangers of the external world - be it from beasts or weather.
In a nutshell, the perfection of the essential triad i.e. food, sex and danger constitutes the objective of Lifeconomics, thereby ascertaining the prosperity of the existential triad i.e. body, consciousness and soul. The certainty of these factors opens the doors to the eternal triad i.e. life, truth and god. A clarity on these concepts will certainly help with your judgments and so will impact your actions, which will over time improve your economic prowess.
In the following chapters, we shall explore the essential and existential triad. The essential triad is the interaction with the objective, material world. The existential triad is the subjective counterpart. The eternal triad explores the realm beyond. The harmony between the triads is what shall be known as “Lifeconomics”. Inspired by studies of motivational, philosophical, psychological and other related subjects, this topic has no close ends. You can evolve the concept and adapt it for your own purposes and share for the common welfare.
(For more details, Please read the book...)