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... in what is purchased with that produce from other nations. “According therefore, as this produce, or what is purchased with it, bears a greater or smaller proportion to the number of those who are to consume it, the nation will be better or worse supplied with all the necessaries and conveniences fo ...
... in what is purchased with that produce from other nations. “According therefore, as this produce, or what is purchased with it, bears a greater or smaller proportion to the number of those who are to consume it, the nation will be better or worse supplied with all the necessaries and conveniences fo ...
S A Slow-Motion CollApSe Why hasn’t regulation crashed the American economy?
... A different or complementary answer for why the American economy has not collapsed under growing regulation is that regulation has crashed the economy, albeit in a gradual way. Consider the recent “Great Recession.” Real GDP fell by 4.2 percent over six quarters of economic contraction. Youth and lo ...
... A different or complementary answer for why the American economy has not collapsed under growing regulation is that regulation has crashed the economy, albeit in a gradual way. Consider the recent “Great Recession.” Real GDP fell by 4.2 percent over six quarters of economic contraction. Youth and lo ...
The Emergence of Informal Sector and the
... U turn – first plummet, then gradually rise – from the time of the founding of New China to the present. The same is true with the changes in the proportion of urban non-Formal economy in the non-agricultural GDP. In the process of such U-curve since the 1990s, the movement of rural labor encour ...
... U turn – first plummet, then gradually rise – from the time of the founding of New China to the present. The same is true with the changes in the proportion of urban non-Formal economy in the non-agricultural GDP. In the process of such U-curve since the 1990s, the movement of rural labor encour ...
Unemployment in the Great Recession: A Comparison of Germany
... depressed state relative to its pre-recession level. After hovering between 4 and 5 percent in 2006 and 2007, the unemployment rate spiked up to 10 percent in October 2009 and declined very slowly since then. More than six years after the onset of the Great Recession, it remains substantially above ...
... depressed state relative to its pre-recession level. After hovering between 4 and 5 percent in 2006 and 2007, the unemployment rate spiked up to 10 percent in October 2009 and declined very slowly since then. More than six years after the onset of the Great Recession, it remains substantially above ...
How Political Economies Change: The Evolution of Growth Regimes
... Securing Productivity The nature of those economic challenges conditioned the growth regimes of this era. In Europe and Japan, improvements in productivity were to be achieved by moving large segments of the labor force from low-productivity agriculture into manufacturing, where Fordist modes of pr ...
... Securing Productivity The nature of those economic challenges conditioned the growth regimes of this era. In Europe and Japan, improvements in productivity were to be achieved by moving large segments of the labor force from low-productivity agriculture into manufacturing, where Fordist modes of pr ...
The monetary theory of unemployment and inflation or why there
... I am writing with Jean-Gabriel Bliek and Olivier Giovannoni, the provisional title being “Money creation, employment and economic stability”. It is the outcome of a converging set of events which dismissed my previous doubts. There was first a conference made with Jean-Gabriel Bliek at the European ...
... I am writing with Jean-Gabriel Bliek and Olivier Giovannoni, the provisional title being “Money creation, employment and economic stability”. It is the outcome of a converging set of events which dismissed my previous doubts. There was first a conference made with Jean-Gabriel Bliek at the European ...
Document
... workfare state provides the best possible political shell for post-Fordism. The basic assumptions and ideas involved in all four claims are summarized in this paper's first section. Further sections then contextualize the tendential shifts themselves, outline the mechanisms generating them, and outl ...
... workfare state provides the best possible political shell for post-Fordism. The basic assumptions and ideas involved in all four claims are summarized in this paper's first section. Further sections then contextualize the tendential shifts themselves, outline the mechanisms generating them, and outl ...
CONTENTS
... South-East Asia: International financial crisis evolves into deepening subregional industrial crisis ....................................................................................................... ...
... South-East Asia: International financial crisis evolves into deepening subregional industrial crisis ....................................................................................................... ...
The role of energy in economic growth: a two
... be replaced by man-made capital or human labor [20]. Therefore, energy should be regarded as an essential input to economic production. In contrast to a closed perpetual motion system, the economy should be described as a large materials-processing chain [6], powered by two growth engines (or feedba ...
... be replaced by man-made capital or human labor [20]. Therefore, energy should be regarded as an essential input to economic production. In contrast to a closed perpetual motion system, the economy should be described as a large materials-processing chain [6], powered by two growth engines (or feedba ...
Økonomiske udfordringer for Europa
... 2. A new 10 trillion yen tranche of Bank of Japan lending against collateral began in September 2010. The timing remains unspecified. This comes on top of a 5 trillion yen program which is expected to be completed by around the end of 2011. ...
... 2. A new 10 trillion yen tranche of Bank of Japan lending against collateral began in September 2010. The timing remains unspecified. This comes on top of a 5 trillion yen program which is expected to be completed by around the end of 2011. ...
The UK recession in context
... During the mid-to-late 19th century, the average growth rate of the economy picked up and there was less volatility in output (Table A). As a result, recessions were rarer and the business cycle lengthened to around eight years.(3) But volatility returned in the 20th century, during which there were ...
... During the mid-to-late 19th century, the average growth rate of the economy picked up and there was less volatility in output (Table A). As a result, recessions were rarer and the business cycle lengthened to around eight years.(3) But volatility returned in the 20th century, during which there were ...
Elhanan Cambridge, MA 02138
... progress. On the other hand, growth rates of the most advanced countries have not been declining, and growth rates seem to be positively autocorrelated (see ...
... progress. On the other hand, growth rates of the most advanced countries have not been declining, and growth rates seem to be positively autocorrelated (see ...
Engels` Pause: A Pessimist`s Guide to the British Industrial
... realized. Nevertheless, between 1760 and 1860, per capita output increased by 82%. This was an important advance in the history of the world. Standard theories of economic development have been used to explain this increase. Lewis’ theory attributed economic expansion to a rise in the investment rat ...
... realized. Nevertheless, between 1760 and 1860, per capita output increased by 82%. This was an important advance in the history of the world. Standard theories of economic development have been used to explain this increase. Lewis’ theory attributed economic expansion to a rise in the investment rat ...
Economic Modelling (Post Graduate)
... Write down the reduced form of the model that you have specified above. Consider whether you will be able to retrieve the structural coefficients of the above model if you have estimates on the reduced form coefficients. Check the rank and order conditions of identification. ...
... Write down the reduced form of the model that you have specified above. Consider whether you will be able to retrieve the structural coefficients of the above model if you have estimates on the reduced form coefficients. Check the rank and order conditions of identification. ...
Transformation in economics
Transformation in economics refers to a long-term change in dominant economic activity in terms of prevailing relative engagement or employment of able individuals.Human economic systems undergo a number of deviations and departures from the ""normal"" state, trend or development. Among them are Disturbance (short-term disruption, temporary disorder), Perturbation (persistent or repeated divergence, predicament, decline or crisis), Deformation (damage, regime change, loss of self-sustainability, distortion), Transformation (long-term change, restructuring, conversion, new “normal”) and Renewal (rebirth, transmutation, corso-ricorso, renaissance, new beginning).Transformation is a unidirectional and irreversible change in dominant human economic activity (economic sector). Such change is driven by slower or faster continuous improvement in sector productivity growth rate. Productivity growth itself is fueled by advances in technology, inflow of useful innovations, accumulated practical knowledge and experience, levels of education, viability of institutions, quality of decision making and organized human effort. Individual sector transformations are the outcomes of human socio-economic evolution.Human economic activity has so far undergone at least four fundamental transformations:From nomadic hunting and gathering (H/G) to localized agricultureFrom localized agriculture (A) to internationalized industryFrom international industry (I) to global servicesFrom global services (S) to public sector (including government, welfare and unemployment, GWU)This evolution naturally proceeds from securing necessary food, through producing useful things, to providing helpful services, both private and public (See H/G→A→I→S→GWU sequence in Fig. 1). Accelerating productivity growth rates speed up the transformations, from millennia, through centuries, to decades of the recent era. It is this acceleration which makes transformation relevant economic category of today, more fundamental in its impact than any recession, crisis or depression. The evolution of four forms of capital (Indicated in Fig. 1) accompanies all economic transformations.Transformation is quite different from accompanying cyclical recessions and crises, despite the similarity of manifested phenomena (unemployment, technology shifts, socio-political discontent, bankruptcies, etc.). However, the tools and interventions used to combat crisis are clearly ineffective for coping with non-cyclical transformations. The problem is whether we face a mere crisis or a fundamental transformation (globalization→relocalization).