advertising, 179
Anthropocene, 16, 141
anti-social behaviour, 227
atomic weapons, 228
Auth, Author’s image, see Acknowledgements
automation, 21

barriers
    to consumption, 194
barter, 83, 98–113
Bhutan, 213
Bible, The, 3
biodiversity, 154
booms, 31, 34, 219

capabilities, 37–47, 217, 218
    learnt knowledge, 39
    technical advance, 42
capital
    goods, 44
    wearing out of, 43
carbon emissions, 158
cardinal virtues, 190
cars, 168
    noise pollution, 156
    tyre dust, 155
climate change, 2, 157, 237
Club of Rome, see also Preface
command economies, 73
commons, 147
    global, 146–149, 170
    tragedy of, 148, 169
communism, 74, 92
Communist Manifesto, 7, 198
community life, 199
competition
    benefits, 86
consumer boycotts, 161
consumer choice, 94, 215
    ineffective, 166
Covid, 233

Darwin, Charles, 8
demand
    change in, 99
    effect of new products, 105
    effect of resource shortages, 104
disruptive technologies, 231
Doomsday Clock, 230

economic
    cycles, 33
economists, 22
economy
    defined, 11
    importance of, 13
    of animals, 12
    one-person, 29
    social, 46, 51–79
Einstein, Albert, 229
elections, 210
elites, 222
entrepreneurs, 78, 200, 201
envy, 189
evolution, 38, 40, 45, 184, 185
    social, 197
    theory of, 10
externalities, 151
extinction
    event, 15, 239
    human, 232
    species, 241

fairer society, 122
fairness, 243, 244, 247
forests, 145, 162

geograph, Creative Commons licence, see Acknowledgements
gig economy, 174, 177, 223
global
    heating, 238
    warming, 153
globalisation, 14
government
    bailouts, 111
    need for, 69
green
    consumers, 165
greenhouse gas, 152
Gross National Happiness, 214

health and safety, 175
hierarchy of needs, 182
human
    impact, 242
    needs, 180
    reproduction, 134
    weaknesses, 186
human-resources, 140

industrial revolution, 20
ingredients of production, 23–27, 216
    resources, 25
    want, 24
    work effort, 26
insecurity, 19
Intergovernmental Panel on Climate Change, 240
intermediate technology, see Preface
invisible hand, the, 85

job
    security, 173

Keynes, John Maynard, 102

labour
    market, 126
labour-hours ‘product’, 137–139
‘light touch’ market economy, 75
Limits to Growth, The, see also Preface
livelihoods, 246
lobbying, 202

macroeconomics, 124
marginal costs, 135
market
    clearing, 90, 131, 138
    dynamics, 123
    exchanges, 96–115
    fundamentalists, 93
    life in, 117
    perfectly informed, 88, 114
marketing, 193
markets, 82–95
Marx, Karl, 6, 63, 65, 66, 196
Maslow, Abraham, 181
media outlets, 205
Met, The Met Creative Commons CC0 licence, see Acknowledgements
microeconomics, 125
minimum wage, 129
money
    coins, 49
    commodity money, 50
    use of instead of barter, 107
    value of, 112
multiplier, 101
    size of, 106

newspapers, 203
Nicaragua, see also Preface
nuclear war, 236

OGL, UK Open Government Licence, see Acknowledgements
one-child policy, 144
OPEC, 100
Origin of Species, The, 9
ownership
    concept of, 56
    exchange of, see trade

palm oil, 163
pandemic, 234
participation, 248
pedestrians, 167
perfect competition, 87, 89, 132
philosophers, 191
Pinker, Steven, 235
plastic bags, 164
population, 142
    growth, 143
positive feedback, 119, 120, 221
poverty
    in midst of plenty, 17
    of Third World, 18
production
    fluctuations in, 30
    growth in maximum, 41
    ingredients of, see ingredients of production
    level of, 28
    maximum, 36
property, 121
    and trade, 59
    recognition of, 57, 118
    rights, 58, 76
public
    property, 206
    spaces, 207
purpose
    in life, 5
    of government, 209
    sense of, 208

regulation, 171
religion, 4, 192
Resources, 68
risk assessments, 212
robots, 128

self-interest, 172
service economy, 159
seven deadly sins, 188
slumps, 32, 35, 220
Smith, Adam, 84, 91, 160
social costs, 150
social economy
    governance, 70
    rules, 52, 71
        cultural, 54
        instinctive, 53
        ownership, 55
social media, 211
socialist market economy, 77
sub-prime mortgages, 110
sugar, 183
Sunday trading, 195
supply & demand curves, 67, see also labour
swap chains, 97
    and the multiplier, 103
swaps, swapping, see market exchanges

taxation
    need for, 72
taxes
    local, 226
    on consumption, 225
    on income, 224
television, 204
trade, 60
    balance of, 108
    inequality and imbalances, 109
trade unions, 176

unemployment, 127
    pay, 130
United Nations, 1
universal basic income, 245

value, 61
    labour theory of, 64
    prices, 62

wisdom, 187
WMC, Creative Commons CC0 licence, see Acknowledgements
working
    conditions, 178
    marginal cost, 133, 136