The relationship between economics and aesthetics

The success or failure of local high streets or fluctuations in the amount of disposable income will affect the demand for products and services

Economics is about understanding people and their journey through life, particularly how they earn a living and spend their income. By restricting the view to finances, economists can identify what behaviours and motivations cause a person to start a business, save for retirement or spend more on luxuries. From this, they can build complex models that attempt to explain the potential impact that national and global politics will have on spending power and priorities.

While it is impossible to predict individual behaviour, human group behaviour can. For example, enough people buy milk from the supermarket to enable the supermarket to predict how much milk it needs on a daily basis. The distributor predicts that farmers will offer milk for sale and how much it will need to keep its customers happy, and farmers will create products based on the distributers interest in purchasing it. No one oversees the whole process, as such, it just happens and is based on predictable behaviour.