• Study Resource
  • Explore Categories
    • Arts & Humanities
    • Business
    • Engineering & Technology
    • Foreign Language
    • History
    • Math
    • Science
    • Social Science

    Top subcategories

    • Advanced Math
    • Algebra
    • Basic Math
    • Calculus
    • Geometry
    • Linear Algebra
    • Pre-Algebra
    • Pre-Calculus
    • Statistics And Probability
    • Trigonometry
    • other →

    Top subcategories

    • Astronomy
    • Astrophysics
    • Biology
    • Chemistry
    • Earth Science
    • Environmental Science
    • Health Science
    • Physics
    • other →

    Top subcategories

    • Anthropology
    • Law
    • Political Science
    • Psychology
    • Sociology
    • other →

    Top subcategories

    • Accounting
    • Economics
    • Finance
    • Management
    • other →

    Top subcategories

    • Aerospace Engineering
    • Bioengineering
    • Chemical Engineering
    • Civil Engineering
    • Computer Science
    • Electrical Engineering
    • Industrial Engineering
    • Mechanical Engineering
    • Web Design
    • other →

    Top subcategories

    • Architecture
    • Communications
    • English
    • Gender Studies
    • Music
    • Performing Arts
    • Philosophy
    • Religious Studies
    • Writing
    • other →

    Top subcategories

    • Ancient History
    • European History
    • US History
    • World History
    • other →

    Top subcategories

    • Croatian
    • Czech
    • Finnish
    • Greek
    • Hindi
    • Japanese
    • Korean
    • Persian
    • Swedish
    • Turkish
    • other →
 
Profile Documents Logout
Upload
5 The Solow Growth Model
5 The Solow Growth Model

ECON 10020/20020 Principles of Macroeconomics
ECON 10020/20020 Principles of Macroeconomics

The Indian ICT Industry: Current Trends and Future Challenges
The Indian ICT Industry: Current Trends and Future Challenges

... Tier 2 players account for 16% of the industry MNC Captives account for 31% of the industry Focused players account for 4% of the industry and Small players ( < Rs 100 crores ) account for 6% of the industry ...
Read this feature article - Fidelity Investments Canada
Read this feature article - Fidelity Investments Canada

... has remained solid, albeit at a slower pace than last ...
Budget Documents
Budget Documents

... – in pass-thru of public money; – contingent liabilities eg: guarantees, PPP terms, legal liabilities ...
Global crisis and its effects on the Zambian economy Session 4
Global crisis and its effects on the Zambian economy Session 4

... percent, the outturn was 16.6 percent.  Depreciation of the Kwacha – by 27.3 percent against US dollar compared to the end year level for 2007.  Weak growth outlook for 2009 – mining, tourism, construction, communications all expected to be significantly ...
Unemployment Rate - The University of Chicago Booth School of
Unemployment Rate - The University of Chicago Booth School of

... What is Gross Domestic Product (GDP)? Why do we care about it? How do we measure standard of living over time? What are the definitions of the major economic expenditure components? What are the trends in these components over time? What is the difference between ‘Real’ and ‘Nominal’ variables? How ...
macroeconomic management in zimbabwe
macroeconomic management in zimbabwe

... Mitchell (1951), underscores the importance of understanding the behavior of these macroeconomic indicators of aggregate demand in the context of business cycles. At every given point in time, when aggregate demand and aggregate supply are mismatched, there are resultant impulse responses on prices ...
Growth versus Redistribution Prabhat Patnaik
Growth versus Redistribution Prabhat Patnaik

... capita income, no matter how “poor” the country may be. In a democracy the people are supposed to be “subjects” and not “objects”. As “subjects” they have an absolute and inalienable right in normal circumstances to certain minimum levels of health, nutrition and education, which are essential for t ...
Credit Spreads and the Severity of Financial Crises Tyler Muir, Yale University
Credit Spreads and the Severity of Financial Crises Tyler Muir, Yale University

... We mark a banking crisis by two types of events: (1) bank runs that lead to the closure, merging, or takeover by the public sector of one or more financial institutions; and (2) if there are no runs, the closure, merging, takeover, or large-scale government assistance of an important financial insti ...
Human capital formation, public debt and
Human capital formation, public debt and

Economic Governance and Sustained Growth
Economic Governance and Sustained Growth

...  Picture to be presented will be painted with a broad brush, covering ...
A Test of Two Open-Economy Theories: Oil Price Rise and Italy
A Test of Two Open-Economy Theories: Oil Price Rise and Italy

Firms - Business-TES
Firms - Business-TES

... Economic Growth • Growth: An increase in an economy's ability to produce goods and services which brings about a rise in standards of living. • The increase over time in the capacity of an economy to produce goods and services and (ideally) to improve the well-being of its citizens. ...
The British Economy Between the Wars
The British Economy Between the Wars

... hostilities. Its performance compares less favorably with Europe’s in the ‘twenties, when it persistently lagged its Continental rivals, than in the ‘thirties, when it closed much of the gap that had opened up in that earlier decade. Figure 1 suggests a number of other respects in which Britain’s g ...
Chapter 8 Presentation - Kellogg Community College
Chapter 8 Presentation - Kellogg Community College

... The real-balances effect refers to the real value of money. The real value of money is determined by how many goods and services each dollar will buy. Periods of high inflation and/or high prices reduce your ability to purchase goods and services. Periods of low inflation and/or price reductions inc ...
Document
Document

...  Insurers pay for services using resources made available by difference between premiums and losses.  Previously, insurance services calculated as premiums less actual losses – volatile when major disasters occurred.  New method subtracts an estimate of normal or “expected” losses rather than act ...
Potential GDP
Potential GDP

... if actual GDP is too high relative to potential GDP – we get rising inflation. • If the economy grows too slowly - if actual GDP is too low relative to potential GDP – we get unemployment. • The job for policymakers is to find the right balance between inflation and unemployment. ...
Lecture 5 and 6
Lecture 5 and 6

... terms of its size, income level, and structure—is affected by external conditions of two types: (1) demand for the region’s outputs, or more broadly, external sources of income for the region, and (2) supply of inputs to the region’s productive activity. We have also seen that the impact of these ex ...
rethinking strategy to addressing the informal sector with lessons for
rethinking strategy to addressing the informal sector with lessons for

Demand - Bank of England
Demand - Bank of England

... Sources: Bank of England, BCC, CBI, CBI/PwC and ONS. (a) Chained-volume measure. (b) Data are to 2011 Q4. Includes survey measures of investment intentions from the Bank’s Agents (companies’ intended changes in investment over the next twelve months), BCC (net percentage balance of companies who say ...
State and Local Budgets during Business Contractions
State and Local Budgets during Business Contractions

Economic Impact of the September 11 World Trade Center Attack
Economic Impact of the September 11 World Trade Center Attack

Slide 1
Slide 1

...  Given our objective to grow the economy, create jobs, address poverty and promote social cohesion, need to ...
Fiscal Policy Effectiveness: Lessons from the Great Recession
Fiscal Policy Effectiveness: Lessons from the Great Recession

... To many economists the swift and unequivocal support of the profession for fiscal activism during the Great Recession has been somewhat of a surprise. After all, since the late 1970s, most mainstream economists had completely abandoned faith in fiscal policy effectiveness, largely because of the emp ...
< 1 ... 302 303 304 305 306 307 308 309 310 ... 547 >

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).
  • studyres.com © 2026
  • DMCA
  • Privacy
  • Terms
  • Report