Economics as Resource Transformation, Not Just Money
Economics. The mere mention often brings to mind images of stock tickers, interest rates, and a whirlwind of figures revolving around dollars and cents. But what if we redefined economics not as being solely about money, but rather about the transformation of resources? At its core, economics is about how societies convert resources—natural, human, intellectual—into wealth. Wealth, in its broadest sense, extends beyond financial accumulation. It encompasses the value derived from economic activity and the transformation process itself, which meets societal needs and creates value from available resources.
Adopting a systems dynamics approach reveals the economy as a web of interconnected chains, where the end products of one activity become the starting resources for another. Ideally, these chains are circular, efficient, and sustainable, though every economic transformation requires resources and results in some waste. The essence of this approach is that economic activity, by creating societal wealth, enhances conditions over time. Let’s explore how this systems-based perspective on economics can inform urban planning and decision-making.
___.jpg)



_%20Why%20American%20Cities%20Are%20Losing%20the%20Longevity%20Game__.jpg)
