Actors in the “Economics” play

In the play named “Economics,” five roles are ascribed, each contributing to the dynamics of the performance:

• The Public Sector: This role is entrusted with the responsibility of establishing and nurturing the economic environment through regulations, infrastructural developments, and other supportive measures.
• Capital: Embodying the means of production, this role facilitates economic activities by providing essential resources such as machinery and financial assets.
• Workers: A vital role that supplies the economy with the essential ingredient of labor, encompassing both skill sets and dedicated time.
• Unemployed: Positioned as potential replacements for active workers, this role also serves as leverage in negotiating salary terms within the labor market.
• The Taker: This role engages in transient or part-time employment as per demand, offering their labor in exchange for compensation. Their adaptable nature can effectively address fluctuating economic demands.

The underlying premise of this framework is to elucidate diverse economic systems by orchestrating these roles. It’s noteworthy that any single economic participant can undertake multiple roles concurrently, thereby enhancing the intricacy of their involvement.