Abstract:
Although it is not easy to comprehend what the economy is and how it functions, there are certain methods we may employ that are more insightful than the most common ones in an effort to do so.
What actually distinguishes an apple you purchase from a store that grows on a tree from an apple you buy from a store like the Mac Store that can check your e-mails?
The apple you buy at the supermarket is a product that existed first in the world and then in your head. The apple phone or laptop is an apple that existed first in someone's head and then in the world. Why is imagination crystallised? One of the explanations is that we may impart our knowledge and thoughts to others by doing this.
In order to construct a guitar, you need to know how to cut, shape, and paint wood. You also need to know how to select wood that vibrates beautifully and how to make it strong enough to hold the strings. You also need to know where to place the frets. Many individuals may envisage flying machines, but only a select few are able to construct them since doing so requires both knowledge and creativity. And it frequently occurs that the quantity of information you want is greater than what any one individual can possibly possess. It necessitates extensive network and coordination of people.
Here is where economic complexity become interesting.
