1. The process of capital accumulation can be conceptually envisaged as... two distinct and alternative ways. I shall call the first...
... State activism in matters of employment, stands so much to gain from it (at least until a level of employment is reached where the workers get "out of hand"). There is however a powerful additional factor which also contributes to deflationism. Let us now turn to it. A capitalist economy cannot func ...
... State activism in matters of employment, stands so much to gain from it (at least until a level of employment is reached where the workers get "out of hand"). There is however a powerful additional factor which also contributes to deflationism. Let us now turn to it. A capitalist economy cannot func ...
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... ·'Walter W. Heller, professor of economics at the University of Minnesota. was the Chairman of the Council of Economic Advisors under Presidents Kennedy and Johnson, and George L. Perry. a former professor of economics at the University of Minnesota, is a researcher for The Brookings Institution. Th ...
... ·'Walter W. Heller, professor of economics at the University of Minnesota. was the Chairman of the Council of Economic Advisors under Presidents Kennedy and Johnson, and George L. Perry. a former professor of economics at the University of Minnesota, is a researcher for The Brookings Institution. Th ...
the economics of the new phase of imperialism
... ignore its caprices, and jettisons "sound finance" and deflationism in pursuit of higher employment, then finance will move out of the country, precipitating a liquidity crisis and bringing the government to its knees. This fact keeps nation-States in thraldom to the caprices of international financ ...
... ignore its caprices, and jettisons "sound finance" and deflationism in pursuit of higher employment, then finance will move out of the country, precipitating a liquidity crisis and bringing the government to its knees. This fact keeps nation-States in thraldom to the caprices of international financ ...
Fiscal Policy: Why Aggregate Demand Management Fails
... approach. As Minsky (1961 and 1968) and others have carefully explained (see for example Galbraith 1970; Robinson 1972; and Stanfield 1999), aggregate demand operates on top of a specific economic structure that translates this broad based macro-demand into specific demands for specific products, pr ...
... approach. As Minsky (1961 and 1968) and others have carefully explained (see for example Galbraith 1970; Robinson 1972; and Stanfield 1999), aggregate demand operates on top of a specific economic structure that translates this broad based macro-demand into specific demands for specific products, pr ...
International Labour Review, Vol
... the 2004–08 period, but still high levels of precarious employment and serious deficiencies in macroeconomic policy prevail. ...
... the 2004–08 period, but still high levels of precarious employment and serious deficiencies in macroeconomic policy prevail. ...
The Gravity Model of Economic Interaction
... given supplies of goods from many origins to buyers at many destinations who spread given expenditures across goods from many origins. The assumption that products are differentiated by place of origin in the gravity model is itself given an economic foundation in the modern theory of monopolistic c ...
... given supplies of goods from many origins to buyers at many destinations who spread given expenditures across goods from many origins. The assumption that products are differentiated by place of origin in the gravity model is itself given an economic foundation in the modern theory of monopolistic c ...
FDI Plays an Important Impetus in Fostering Local Economy in :
... should keep balance according the balanced theory of the macroeconomy. If we express the gross investment with letter I, the letter S stand for deposits money, then I-S shows the difference of making the investment and depositing money, i.e. deposit shortfall. If the letter M stand for import, X sta ...
... should keep balance according the balanced theory of the macroeconomy. If we express the gross investment with letter I, the letter S stand for deposits money, then I-S shows the difference of making the investment and depositing money, i.e. deposit shortfall. If the letter M stand for import, X sta ...
OSCILLATORY DYNAMICS OF INDUSTRIAL PRODUCTION
... examples of the observations of important scientists related to such behavior. We present below, in chronological order, a few relevant quotes related to cyclic behavior: The general character and agreement in the periodic turn in movements of factors of circulation -- these are the specific problem ...
... examples of the observations of important scientists related to such behavior. We present below, in chronological order, a few relevant quotes related to cyclic behavior: The general character and agreement in the periodic turn in movements of factors of circulation -- these are the specific problem ...
Introduction to Economics
... In terms of methodology, economists, like other social scientists, are not able to undertake controlled experiments in the way that chemists and biologists are. Hence, economists have to employ different methods, based primarily on observation and deduction and the construction of abstract models. ...
... In terms of methodology, economists, like other social scientists, are not able to undertake controlled experiments in the way that chemists and biologists are. Hence, economists have to employ different methods, based primarily on observation and deduction and the construction of abstract models. ...
China`s Mixed Economy – its Economic and Social Consequences
... period. It is difficult to remove this “double bind” until non-state firms expand their employment sufficiently to absorb a much larger fraction of the redundant labor force, and before a more comprehensive system of income security is in place. Inadvertently, households have also helped finance fir ...
... period. It is difficult to remove this “double bind” until non-state firms expand their employment sufficiently to absorb a much larger fraction of the redundant labor force, and before a more comprehensive system of income security is in place. Inadvertently, households have also helped finance fir ...
Macroeconomic Aggregates
... separate item in the income method (value added tax levied on goods and services, consumer taxes). Capital and labour income do not include indirect business taxes paid by the businesses to government. But those taxes are part of the income generated in producing GDP. Therefore we have to add those ...
... separate item in the income method (value added tax levied on goods and services, consumer taxes). Capital and labour income do not include indirect business taxes paid by the businesses to government. But those taxes are part of the income generated in producing GDP. Therefore we have to add those ...
chapter outline
... countries. Because growth rates of real GDP also vary substantially, the relative positions of countries can change dramatically over time. 2. The standard of living in an economy depends on the economy’s ability to produce goods and services. Productivity, in turn, depends on the amounts of physica ...
... countries. Because growth rates of real GDP also vary substantially, the relative positions of countries can change dramatically over time. 2. The standard of living in an economy depends on the economy’s ability to produce goods and services. Productivity, in turn, depends on the amounts of physica ...
Ch14 - People Search
... overstate true problem of inflation for two reasons: 1. Basket of goods and services purchased by typical household is deliberately assumed to remain fixed for several years so that changes in prices of basket reflect changes in prices only, not changes in quantities of goods and services themselves ...
... overstate true problem of inflation for two reasons: 1. Basket of goods and services purchased by typical household is deliberately assumed to remain fixed for several years so that changes in prices of basket reflect changes in prices only, not changes in quantities of goods and services themselves ...
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... there will be little basis for stimulating demand for the nonagricultural good with a positive price policy in the functionally dual, disarticulated structure. The conditions for a positive, nonagricultural demand response in the articulated and Ricardian disarticulated structures can be analyzed in ...
... there will be little basis for stimulating demand for the nonagricultural good with a positive price policy in the functionally dual, disarticulated structure. The conditions for a positive, nonagricultural demand response in the articulated and Ricardian disarticulated structures can be analyzed in ...
DEVELOPMENT OF MARKET ECONOMY IS AN
... by new market norms of behavior, transferred from the developed economies. Individuals in the transition countries were supposed to use opportunities that appeared in the new regulative environment for maximizing their utility functions. Entrepreneurial activities of the maximizing individuals would ...
... by new market norms of behavior, transferred from the developed economies. Individuals in the transition countries were supposed to use opportunities that appeared in the new regulative environment for maximizing their utility functions. Entrepreneurial activities of the maximizing individuals would ...
GDP and Measures of Economic Progress Sound Byte Nothing says
... turn limited by the first law of thermodynamics, which establishes that energy and matter cannot be created or destroyed, but only converted to other forms (such as in the process of photosynthesis). Meanwhile, the second law of thermodynamics establishes that converting energy and matter cannot bec ...
... turn limited by the first law of thermodynamics, which establishes that energy and matter cannot be created or destroyed, but only converted to other forms (such as in the process of photosynthesis). Meanwhile, the second law of thermodynamics establishes that converting energy and matter cannot bec ...
6.02 Understand economic indicators to recognize economic trends
... government in indirect taxes. – This rise in government spending along with the fall in tax revenues may result in a higher government borrowing requirement (known as a public sector net cash ...
... government in indirect taxes. – This rise in government spending along with the fall in tax revenues may result in a higher government borrowing requirement (known as a public sector net cash ...
Week 2 in class demand problems
... 1) There are three demanders, A, B, and C. According to the table above, if price were $200 then market quantity demanded would be A) 95 units. B) 30 units. C) 145 units. D) 50 units. E) Cannot be calculated with the information available. ...
... 1) There are three demanders, A, B, and C. According to the table above, if price were $200 then market quantity demanded would be A) 95 units. B) 30 units. C) 145 units. D) 50 units. E) Cannot be calculated with the information available. ...
Answers to Homework #2
... As you can see from the above table when capital is increased this increases labor productivity for a given amount of labor. More capital provides labor with greater amounts of plant and equipment to work with when producing goods and services and hence, this additional capital leads to increases in ...
... As you can see from the above table when capital is increased this increases labor productivity for a given amount of labor. More capital provides labor with greater amounts of plant and equipment to work with when producing goods and services and hence, this additional capital leads to increases in ...
The Toolkit of Economic Sociology
... together, either by virtue of directly interacting with one another or because they take each other into account in some other way. To cite a standard text in organizational sociology: “by organizational field we mean those organizations that, in the aggregate, constitute a recognized area of instit ...
... together, either by virtue of directly interacting with one another or because they take each other into account in some other way. To cite a standard text in organizational sociology: “by organizational field we mean those organizations that, in the aggregate, constitute a recognized area of instit ...
Information inefficiency in a random linear economy model
... The results for the fraction of active firms φ are now the same of the rational agent case and we still have a competitive regime for n < 2 and a monopolistic regime for n > 2. However, the behavior of the macroeconomic quantities reproduces that of the inefficient consumer. Figure 3 depicts solutio ...
... The results for the fraction of active firms φ are now the same of the rational agent case and we still have a competitive regime for n < 2 and a monopolistic regime for n > 2. However, the behavior of the macroeconomic quantities reproduces that of the inefficient consumer. Figure 3 depicts solutio ...
