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Philosophy of EconomyThe World as Household$
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Sergei Bulgakov

Print publication date: 2000

Print ISBN-13: 9780300079906

Published to Yale Scholarship Online: October 2013

DOI: 10.12987/yale/9780300079906.001.0001

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The Significance of the Basic Economic Functions

The Significance of the Basic Economic Functions

(p.95) 3 The Significance of the Basic Economic Functions
Philosophy of Economy

Sergei Bulgakov

Yale University Press

The economic cycle consists of two acts, production and consumption; these are the essential economic functions. For this reason the general question ‘How is economy possible?’ reduces to two more particular questions, namely: How is production possible, and how is consumption possible? This chapter addresses these two questions.

Keywords:   economic functions, economic cycle, production, consumption, economy

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