For as long as there have been people creating, distributing and supplying goods and services there has been an economy. The more complex a society became, the larger their economy became. The natural as well as the man made attractions add to a country’s economy.
For instance I just recently I was in Australia for business and took a side trip to the capital of Queensland after reading an article. As a large, modern city set on the Brisbane River, Brisbane’s South Bank cultural precinct offers institutions such as the Queensland Museum and Sciencentre with their noted interactive exhibitions, and the Queensland Gallery of Modern Art, a major contemporary art museum. I especially wanted to visit Mt. Coot-tha, the site of the sprawling Brisbane Botanic Gardens which offers panoramic views from its summit. Apparently Bob is quite the gardener herself with a well known garden that is open to the public one week a year. I must say the Brisbane Botanic Gardens, Mount Coot-tha, which houses tropical plants hothouse and also the Sir Thomas Brisbane Planetarium within its grounds was well worth the visit. When you plan a trip to another country, every step of the way, each person involved, every decision made, contributes to the economy. In this case in more than one country. The world’s economy, a country’s economy, a city or town’s economy are all intricately intertwined in the 21st century.
Let’s look at the past:
A large scale economy was developed in Sumer based upon commodity money. Babylonians later developed the economic structure as we now think of it with the neighboring city states. This structure would encompass laws and rules on debt as well as legal contracts. It would also address business practices and private property issues. The Babylonians and their neighbors would also develop the first known legal administration including courts, jails and record keeping. This time frame saw the economy dealing in subsistence farming and trade to survive. For example a Shekel was currency but it was also a measurement of weight when dealing in items such as barley just like a British Pound was a pound of silver and a monetary denomination.
Medieval times were not far from the same economic structure. This means they were still not very far from the subsistence level. Most of the trade still occurred within social groups. During this time the first banks began to open and in 1513 the first stock exchange would begin. Economy at this time still meant trade primarily. but in early modern times we saw economy really take off. Rising nation states began to control trade through custom duties and taxes in order to improve the national economy. Economy from that point forward meant the national economy as a topic for the activities of all citizens in a state. During the Industrial Revolution from the 18th to the 19th century saw big change in agriculture, mining, transport and manufacturing. This had a major effect economic and cultural conditions which spread throughout the world. This marked a major turning point in the history of man. Almost every aspect of life was influenced but the industrial revolution.
The introduction of the internet played an important role in the economy believe it or not. The importance of E-commerce and electronic business created a totally new all connected society which is tied closely to a global economy. In the modern era you can use the Internet to reach customers which never would have seen you product or service in the past. It is no longer necessary to be in front of someone to make a trade or sell. During the 00’s a new type of economic expansion was witnessed. The economies in countries such as China and Brazil brought attention to a totally different type of economic model than we are used to seeing in western cultures. It was very interesting to watch. One thing is for sure Economy as a topic is ever evolving and moves forward driven by human nature.