Description
The economic process and task of the economy is examined. Pesch determines that the satisfaction of the wants of the population who constitute a national economy ultimately determine the direction of a nation’s economic order. Basic needs (food, clothing, shelter) as well as “special” or luxury needs are presented in terms of both purely economic and moral aspects. Pesch discusses how production, and the use of technology, is utilized in satisfying those needs. The impact of wage levels and hours of work effect how production moves toward fulfilling the needs of economy.
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