In the simplest, economics is about the ability of the average person to live comfortably.
At the least, a person should be able to provide comfort for their family at the same level as their parents with the same amount of effort. If this exists, the economy is stable. If it takes less effort, the economy is growing. If it takes more effort, the economy is declining.
Again, this is for the average, so a growing economy for 1% with a declining economy for 99% should be considered a decline.
Comfort is defined in both mental and physical terms.
Physical is food, clothing, and shelter.
Mental is knowing you're prepared for the future as well as the ability to be average in the present. The latter sets the terms for what is known as "disposable income" or in snobbish terms, "unnecessary spending".
