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the post-crisis world: the world economy in the aftermath - e
the post-crisis world: the world economy in the aftermath - e

... Industrialized countries start imposing quotas on Chinese goods claiming that what Chinese do amounts to dumping. This can result in increased protectionism or even a sort of trade war which can exacerbate the current economic crisis (Foroohar, 2010a, p. 6). Protectionism also applies to the immigra ...
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PDF Download

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Chapter 22: National Income and Product Accounts
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Chapter 1 PowerPoint download.

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Working Paper No. 64 - Levy Economics Institute of Bard College
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LG/17/21

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Business Essentials, 7th Edition Ebert/Griffin

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interventionism: an economic analysis of priceless resource allocation
interventionism: an economic analysis of priceless resource allocation

... view, under aggravated circumstances. In this case, however, he who profits from the plunder is not responsible for it; it is the law, the lawgiver, society itself, and this is where the political danger lies.” (Bastiat 2007, p. 62-63) Bastiat’s counterfactual approach can be most clearly grasped in ...
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1 The Siren Song of Collectivism: Mises on How Interventionism

... voluntary exchange, they are manifestations of people’s subjective values. When entrepreneurs ...
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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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