Robert J. Samuelson, columnist focusing on economics, is right when he says that introductory textbooks are not enough to educate the next generation of economists. Samuelson formulates their aim as follows: ‘For most of us, the purpose of studying economics is more modest. It is to make the world a little more understandable and, with luck, to force us to acknowledge what’s realistic and what’s not.’.
Samuelson says that ‘this constructive role‘ is not reached with Harvard professor N. Gregory Mankiw’s textbook “Principles of Economics” because it is not enough up to date. Recent developments in communication, technics, structures etc. are not included. But that is not the only shortage; the book of roughly 800 pages with information on many subjects is not very well fit to bring the overview and insight that laymen in economics need to start their reconnaissance.
No matter how many pages and separate topics a textbook on principles of economics has, the schemes to present the overview to understand the connexion of the economic-societal system are missing. The functioning of markets as the basis for understanding economics is far too narrow to reach that goal. Understanding economics has to be grounded on a structured inventory of all the flows in the societal system with the ecosystem as soccle.
Kate Raworth’s ‘The Embedded Economy ‘ scheme embeds the flows in the ecosystem but misses the details of the flows that are embedded. To fill that lack I have delivered the contributions on completing and zooming in on that scheme. For a more extensive acquaintance you have to go to he website WWW.ECREALSYS.ORG.