The existence of an economy is essential to the formation and sustenance of society. No society can survive without an economy efficient enough to meet, at the very least, the basic needs of its members. Every economy exists for the sole purpose of meeting the growing needs of people as life conditions change. Economy, therefore, is a component of society; and society is the framework within which economy functions. Because of this relationship, every society has its own economy, and every economy reflects the needs and cultural attributes of society, as well as the major traits of the civilization in which it lives.


Social Order Free Market Industrial Revolution Economic Problem Central Planning 
These keywords were added by machine and not by the authors. This process is experimental and the keywords may be updated as the learning algorithm improves.


Unable to display preview. Download preview PDF.

Unable to display preview. Download preview PDF.


  1. 1.
    Jack Weatherford, Savages and Civilization (Ballantine Books, 1994), 27.Google Scholar
  2. 3.
    Francis Fukuyama, Trust: The Social Virtues and the Creation of Prosperity (The Free Press, 1995), 56.Google Scholar
  3. 5.
    Sophie Bessis, From Social Exclusion to Social Cohesion: A Policy Agenda (UNESCO, 1995), 13.Google Scholar
  4. 7.
    Joseph Schumpeter, Capitalism, Socialism and Democracy (Harper Brothers, 1950).Google Scholar
  5. 8.
    Robert Heilbroner, 21st Century Capitalism (W. W. Norton, 1994), 35.Google Scholar

Copyright information

© Mohamed Rabie 2016

Authors and Affiliations

  • Mohamed Rabie

There are no affiliations available

Personalised recommendations