Professor Bernard's picture

The Economy of the Twenty-First Century

By Bernard

Note. This short analysis was published in AREF-INFO, AUTOMNE 2014. My translation.

Time changes many things.

Today we live in a new information age.

In a primitive age, for some people still a daily reality, the production was autarkic, producing only for themselves and their family or tribe. The consumption was also immediate and the distribution, a domestic affair. Some annual fairs took the place of the markets.

With the Industrial Revolution were born factories, employment, wages, labor with capital, profits and permanent markets. The transportation developed; the local market has become regional, national and international. Today it is global and comprehensive, almost spacial.

The increase in living standards, in addition to extending the individual life, has created new needs and the services now cover more than the majority of human economic activities.

Finally, the computers and the Internet arrived. Farmers, as many as any industrial producers and consumers, now can instantly connect with anyone, anywhere around our planet. The market has just reached its perfection.

What are the consequences?

I will explore some areas of our daily lives and try to understand how we should react to these new facts.

My analytical framework will be very simple. I would see the consequences of these new data on the following topics:

  1. The Production in the Twenty-First Century<
  2. The Consumption in the Twenty-First Century<
  3. The Distribution in the Twenty-First Century<
  4. The Taxation in the Twenty-First Century<
  5. An Recent Example of Bad Political Decision<

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