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Economic thought still confronts with new problemsarising together with the advancement of civilization. Economic matters are drivingforces of human interactions so economics is expected to reveal why people, companies,banks, and governments behave in particular modes. B. Khumalo 1 is the authorof a recent article in which he proposes a definition of economics that is adjustedto present times. Our article continues these considerations, since both terms:capital and resources have essentially changed their meaning. Though economics isstill the study of a production and a distribution of goods, we recognize that laborof people and assets, which lead to the increase of concentration of capital inproducts is a driving force of economic activities as well. Essential explanationsof a core triad: capital, labor and money accompany the proposed definition of economics.

KEYWORDS

Theory of Economics; Scientific Economics; Science; Capital; Capital Growth Model

Cite this paper

M. Dobija and B. Kurek -Towards Scientific Economics,- Modern Economy, Vol. 4 No. 4, 2013, pp. 293-304. doi: 10.4236-me.2013.44033.





Author: Mieczysław Dobija, Bartosz Kurek

Source: http://www.scirp.org/



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