the key to money and wealth. The key to agriculture. The key to
the functioning of many a society. Today, economics is everywhere
around us, in the form of banking and finance, in the supply and
demand of goods. It has become so powerful it has become deciding
factor of the power sphere of a country; rich countries enjoy a
sizable amount of influence in world affairs, poor countries are
forever trying to satisfy the demands of their people, who demand
for a more affluent lifestyle.
did the ancients have any notion about economics? Economics, as
a social science, was only acknowledged in the 1700s, when Adam
Smith discussed the reasons of how society functions in his book
The Wealth of Nations.
assured, however, that the ancients did use economics, although
they did not term it as such. Through our series of articles, be
amazed at how financially shrewd they were, and also discover that
events like inflation and crediting were not all that recent; it
existed a thousand years ago!