Economy

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Economy

The Economy is the sum total of all Labour exchange

Concept Map

World System >

• Comprehensive Framework
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• Institutional Structure

Institutional Structures >

• Economic Structure
• Communication Structure
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Economic Structures >

• Economy

Syncretic Terms

Economy >

Related LP Terms

Economy >

Non-LP Related Terms

Economy >

Notes

Labour may be exchanged in multiple ways. Labour may be exchanged through barter or through the exchange of money (i.e. abstracted labour). Modern Capitalism is founded on the formal and highly manipulated exchange of money (Sharp, 2009). An economy founded primarily on the exchange of money can be said to be monetized.

There are different types of economies including the Official Economy, Informal Economy and the Black Market

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Footnotes

References