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Marketing in the Iron Curtain Countries
Marketing in the Iron Curtain Countries

... economists, bent on reform, have prevailed upon the government to remodel the economic system. The reform involves the following: 1. Giving individual firms greater authority to carry out short-term production plans as they see fit, within the broad framework of the government's long-term central pl ...
Government Expenditure Composition and Growth in Chile
Government Expenditure Composition and Growth in Chile

... The value of the subjective discount factor,  , has been traditionally taken to be less than unity, although empirical evidence has suggested a wide range around unity2. For instance, Annicchiarico and Giammarioli (2004) use a low value, 0.74, while Hubbard and Judd (1987) set   0.985 in a repres ...
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The Fuctions of An Economic System
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Economic Models
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The Impact of Transition to the Market Economy
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Chapter 3 - Amazon Web Services
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The New, New World Order
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National Income – CBA - Kuwait University
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... unlimited success. Economic efficiency is determined only by low costs and high profit. Moreover, thanks to classical and neoclassical economic theory, economic efficiency is considered identical with social efficiency. The logic is simple: low costs mean big profit, big profit means a rich and pros ...
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Economic democracy

Economic democracy or stakeholder democracy is a socioeconomic philosophy that proposes to shift decision-making power from corporate managers and corporate shareholders to a larger group of public stakeholders that includes workers, customers, suppliers, neighbors and the broader public. No single definition or approach encompasses economic democracy, but most proponents claim that modern property relations externalize costs, subordinate the general well-being to private profit, and deny the polity a democratic voice in economic policy decisions. In addition to these moral concerns, economic democracy makes practical claims, such as that it can compensate for capitalism's inherent effective demand gap.Classical liberals argue that ownership and control over the means of production belongs to private firms and can only be sustained by means of consumer choice, exercised daily in the marketplace. ""The capitalistic social order"", they claim, therefore, ""is an economic democracy in the strictest sense of the word"". Critics of this claim point out that consumers only vote on the value of the product when they make a purchase; they are not participating in the management of firms, or voting on how the profits are to be used.Proponents of economic democracy generally argue that modern capitalism periodically results in economic crises characterized by deficiency of effective demand, as society is unable to earn enough income to purchase its output production. Corporate monopoly of common resources typically creates artificial scarcity, resulting in socio-economic imbalances that restrict workers from access to economic opportunity and diminish consumer purchasing power. Economic democracy has been proposed as a component of larger socioeconomic ideologies, as a stand-alone theory, and as a variety of reform agendas. For example, as a means to securing full economic rights, it opens a path to full political rights, defined as including the former. Both market and non-market theories of economic democracy have been proposed. As a reform agenda, supporting theories and real-world examples range from decentralization and economic liberalization to democratic cooperatives, public banking, fair trade, and the regionalization of food production and currency.
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