Economics is the social science that studies how individuals, businesses, governments, and societies allocate scarce resources to meet their needs and desires. It examines the production, distribution, and consumption of goods and services, exploring how these activities are affected by human behavior, incentives, and market dynamics. Economics can be divided into two main branches: microeconomics, which focuses on the actions of individuals and firms, and macroeconomics, which studies aggregate economic phenomena such as national income, inflation, and unemployment. The discipline seeks to understand and explain how economies function and how economic agents interact, often employing theories and models to analyze complex systems and inform policy decisions.
The American economic vulnerability lies in its internationalized oligarchy reliant on global markets. The Trump administration's trade policies, including significant tariffs, threaten to disrupt long-standing economic alliances and supply chains.…