Households and 1-World Economy: A Mathematical Discourse
Mary Osi
Department of Economics, University of Abuja, Nigeria.
Chukwuemeka Eke *
Department of Economics, University of Abuja, Nigeria.
*Author to whom correspondence should be addressed.
Abstract
We examine several options available for households to withstand the challenges posed by long held positions about nation-state macroeconomics and mathematically argue outlets for showcasing the foundational essence of household economy in the coming mainstreaming of 1-World economy without the necessary drawbacks of the failing nation-state macroeconomics which its attendant inadequacies and inefficiencies. We brought out the core importance of the zeroing in on household economics as we evolve further virtual economics as these are the main frames as regards our quest for survival of the human race, and showed that the household must be the core for this new world to work. This paper suggests perhaps another perspective to the other known conventional systems that can be used to assess the impact of internet enabled economic activities on households within a setting without economic borders or barriers. Finally, we relate two the concepts to the world economy.
Keywords: Economic borders, world economy, obstructionist ideas, human race