The Third Great Wave
... Industrial Revolution, starting in the late 18th century, and the second one, around 100 years later, had their victims who lost their jobs to Cartwright’s power loom and later to Edison’s electric lighting, Benz’s horseless carriage and countless other inventions that changed the world. But those i ...
... Industrial Revolution, starting in the late 18th century, and the second one, around 100 years later, had their victims who lost their jobs to Cartwright’s power loom and later to Edison’s electric lighting, Benz’s horseless carriage and countless other inventions that changed the world. But those i ...
Trade and Employment in Services Indonesia’s Forgotten Sector Aswicahyono (CSIS)
... • The dominant role of goods in trade only partly true: – services are crucial for competitiveness, are growing in world trade, and are the main sector of employment – direct role in earning foreign exchange and indirect linkages to other sectors (eg. tourism 9% of GDP?) – their indirect contributio ...
... • The dominant role of goods in trade only partly true: – services are crucial for competitiveness, are growing in world trade, and are the main sector of employment – direct role in earning foreign exchange and indirect linkages to other sectors (eg. tourism 9% of GDP?) – their indirect contributio ...
ResearchBrief169
... other words the increase in production capacity through investment), the increase in employment, and productivity gains. In the early stages of economic development, capital accumulation and increases in employment are main sources for growth. However, when per capita income exceeds $10,000, high pr ...
... other words the increase in production capacity through investment), the increase in employment, and productivity gains. In the early stages of economic development, capital accumulation and increases in employment are main sources for growth. However, when per capita income exceeds $10,000, high pr ...
What is the economic outlook for 2015?
... income prospects; those in the middle income segment still burdened with the debt obligation from 1st car programs; the best performing sectors are those related to high income families. On the business side, sectors related to infrastructure spending have renewed hopes on the government infrastru ...
... income prospects; those in the middle income segment still burdened with the debt obligation from 1st car programs; the best performing sectors are those related to high income families. On the business side, sectors related to infrastructure spending have renewed hopes on the government infrastru ...
Decrease in GDP growth
... 1. What is the difference between a decrease in GDP and a decrease in GDP growth? 2. Explain the cyclical pattern of economies using the business cycle diagram 3. Explain the concept of potential output and its relationship to the “output gap” ...
... 1. What is the difference between a decrease in GDP and a decrease in GDP growth? 2. Explain the cyclical pattern of economies using the business cycle diagram 3. Explain the concept of potential output and its relationship to the “output gap” ...
ECN 111 Chapter 10 Lecture Notes
... innovate. The new and better products mean that old firms go out of business. New firms start up, which creates new and better jobs and leads to greater consumption and leisure. But insatiable wants simply start the growth cycle all over again. 3. Productivity Curve and New Growth Theory The product ...
... innovate. The new and better products mean that old firms go out of business. New firms start up, which creates new and better jobs and leads to greater consumption and leisure. But insatiable wants simply start the growth cycle all over again. 3. Productivity Curve and New Growth Theory The product ...
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... construction). Note: in addition to housing/offices, also a big surge in public! investment (about 5% of GDP).! ...
... construction). Note: in addition to housing/offices, also a big surge in public! investment (about 5% of GDP).! ...
ECONOMIC PERSPECTIVE State Board of Equalization A Review of the Economy:
... • The U.S. economy in 2014-15 was characterized by stronger than average economic growth, very low interest rates, increasing employment, declining unemployment rates, and extremely low inflation. ...
... • The U.S. economy in 2014-15 was characterized by stronger than average economic growth, very low interest rates, increasing employment, declining unemployment rates, and extremely low inflation. ...
Analysis of business related Services
... Business related services (‘BRS’) are a globally significant, dynamically developing area of the world economy; in fact, they are the largest area of the European and international economies of developed countries. In the Czech Republic, too, the tertiary sector of services makes the largest contrib ...
... Business related services (‘BRS’) are a globally significant, dynamically developing area of the world economy; in fact, they are the largest area of the European and international economies of developed countries. In the Czech Republic, too, the tertiary sector of services makes the largest contrib ...
Presentation
... cumulative divergence, and the role of the money commodity will be supplanted. • Likewise if the money price of the primary commodity does not change but that of the manufactured good falls, then money will replace the manufactured good as the object of accumulation. ...
... cumulative divergence, and the role of the money commodity will be supplanted. • Likewise if the money price of the primary commodity does not change but that of the manufactured good falls, then money will replace the manufactured good as the object of accumulation. ...
The Interwar American Economy: the Rise of Government
... • The vehicle for this will be through examination of agriculture, perhaps the most regulated and subsidized sector of the American economy, despite inherent productivity advantages vis a vis producers elsewhere in the world for most commodities. There is a puzzle—why this sector and why so much? • ...
... • The vehicle for this will be through examination of agriculture, perhaps the most regulated and subsidized sector of the American economy, despite inherent productivity advantages vis a vis producers elsewhere in the world for most commodities. There is a puzzle—why this sector and why so much? • ...
The 4 Types of Economic Systems reading 2015-2016
... certain elements of a traditional economy that those in more advanced economies, such as Mixed, would like to see return. Traditional economies still produce products and services that are a direct result of their beliefs, customs, traditions, religions, etc. Vast portions of the world still functio ...
... certain elements of a traditional economy that those in more advanced economies, such as Mixed, would like to see return. Traditional economies still produce products and services that are a direct result of their beliefs, customs, traditions, religions, etc. Vast portions of the world still functio ...
Midterm #2
... the rate of money growth is equal to the real interest rate. b. the rate of money growth is equal to the elasticity of money demand with respect to real income. c. the rate of money growth is equal to the growth rate of nominal GDP time the elasticity of money supply with respect to output. d. the r ...
... the rate of money growth is equal to the real interest rate. b. the rate of money growth is equal to the elasticity of money demand with respect to real income. c. the rate of money growth is equal to the growth rate of nominal GDP time the elasticity of money supply with respect to output. d. the r ...
Trade, Inclusive Growth and Inclusive Policy Making
... • Basic question raised: how can trade liberalization and expansion be growth inclusive? • Paper highlights importance of investment climate, investing in people (with a bias for the poor and the hitherto unskilled) and institutions, robust agricultural productivity and good domestic transport links ...
... • Basic question raised: how can trade liberalization and expansion be growth inclusive? • Paper highlights importance of investment climate, investing in people (with a bias for the poor and the hitherto unskilled) and institutions, robust agricultural productivity and good domestic transport links ...
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).