1960s: Experiments with Fiscal Policy
... identified his theories as the "prime influence on the world's free economies..." Policy makers had "used Keynesian principles not only to avoid the violent cycles of prewar day but to produce phenomenal economic growth and to achieve remarkably stable prices." The 1960s was a very good time to be a ...
... identified his theories as the "prime influence on the world's free economies..." Policy makers had "used Keynesian principles not only to avoid the violent cycles of prewar day but to produce phenomenal economic growth and to achieve remarkably stable prices." The 1960s was a very good time to be a ...
The 49th State: Revisiting Missouri`s GDP Sector by Sector
... Construction and Manufacturing—contracted between 1997 and 2013. The Information sector was the fastest growing, recording a 3.9 percent average annual growth rate over the 1997 through 2013 period. In addition, the Mining, Finance, Agriculture, Retail Trade, Wholesale Trade, and Utilities sectors r ...
... Construction and Manufacturing—contracted between 1997 and 2013. The Information sector was the fastest growing, recording a 3.9 percent average annual growth rate over the 1997 through 2013 period. In addition, the Mining, Finance, Agriculture, Retail Trade, Wholesale Trade, and Utilities sectors r ...
True/False Questions
... d. growth rates in all countries have stagnated since 1972. ANSWER: a 6. The U.S. growth rates for the 1990-99 has: a. increased compared to 1973-90 period. b. decreased compared to1973-90 period. c. has remained the same as that of 1973-90 period. d. has stagnated at low rates. ANSWER: a 7. The thr ...
... d. growth rates in all countries have stagnated since 1972. ANSWER: a 6. The U.S. growth rates for the 1990-99 has: a. increased compared to 1973-90 period. b. decreased compared to1973-90 period. c. has remained the same as that of 1973-90 period. d. has stagnated at low rates. ANSWER: a 7. The thr ...
Reconciling the invisible hand and innovation
... economic prosperity was not primarily based on its allocative efficiency but on its growth inducing effects. (Landreth and Colander 2002, 104). Beyond any doubt the Smithian vision of the market mechanism has had a profound impact on the economic science in particular, and posterity in general. Some ...
... economic prosperity was not primarily based on its allocative efficiency but on its growth inducing effects. (Landreth and Colander 2002, 104). Beyond any doubt the Smithian vision of the market mechanism has had a profound impact on the economic science in particular, and posterity in general. Some ...
“critical natural capital”.
... DAYA DUKUNG BUMI The Earth's carrying capacity is another central question. This was first examined by Thomas Malthus, and more recently in an MIT study entitled Limits to Growth. In order to INCREASE the real GDP per capita, the real GDP must increase faster than population growth. Diminishing ret ...
... DAYA DUKUNG BUMI The Earth's carrying capacity is another central question. This was first examined by Thomas Malthus, and more recently in an MIT study entitled Limits to Growth. In order to INCREASE the real GDP per capita, the real GDP must increase faster than population growth. Diminishing ret ...
short-run AS curve
... AS/AD and the Business Cycle Beginning from the natural level of real output, the economy expands. A positive output gap develops, unemployment falls below its natural rate, and the price level begins to rise. After a peak is reached, real output— although still above its natural level— begins ...
... AS/AD and the Business Cycle Beginning from the natural level of real output, the economy expands. A positive output gap develops, unemployment falls below its natural rate, and the price level begins to rise. After a peak is reached, real output— although still above its natural level— begins ...
Topic 2: Aggregate Demand, Supply and Equilibrium
... The Output market ( “Markets for goods and services”) is where the firms sell goods and services, and the households buy goods. The Factor market ( “Markets for factors of production”) household sell goods and services – like labor, and the firms buy. The arrows show the direction of the flow of DOL ...
... The Output market ( “Markets for goods and services”) is where the firms sell goods and services, and the households buy goods. The Factor market ( “Markets for factors of production”) household sell goods and services – like labor, and the firms buy. The arrows show the direction of the flow of DOL ...
A new Framework for Economic Policy
... create the opportunity for every Canadian to achieve personal hlfillment through work and leisure in a free and just society. These aspirations can be attained only through a dynamic economy that generates both ample employment opportunities and the financial resources to undertake those public ende ...
... create the opportunity for every Canadian to achieve personal hlfillment through work and leisure in a free and just society. These aspirations can be attained only through a dynamic economy that generates both ample employment opportunities and the financial resources to undertake those public ende ...
Y k
... will be able to observe, at some time in the future, is change in the output vector of that sector. ...
... will be able to observe, at some time in the future, is change in the output vector of that sector. ...
What is Macroeconomics - Katsuhito Iwai`s Webpage.
... Since to talk about this "Keynesian" economics vs. neoclassical economics controversy is to talk about the current state of macroeconomics as a whole, we have to refrain from giving any references here. It does not appear to be an overstatement to say that both "Keynesian" economists and neoclassica ...
... Since to talk about this "Keynesian" economics vs. neoclassical economics controversy is to talk about the current state of macroeconomics as a whole, we have to refrain from giving any references here. It does not appear to be an overstatement to say that both "Keynesian" economists and neoclassica ...
The limits of technological solutions to sustainable
... human made capital is used as a substitute for depleted natural capital (Rees and Wackernagel 1995). This viewpoint is opposed by many biologists and environmentally minded economists who assert that natural capital stocks need to be held constant independent of human capital in order to guarantee ( ...
... human made capital is used as a substitute for depleted natural capital (Rees and Wackernagel 1995). This viewpoint is opposed by many biologists and environmentally minded economists who assert that natural capital stocks need to be held constant independent of human capital in order to guarantee ( ...
The Rise and Fall of Radical Political Economy in the United States
... resulted in approaching one or another of the orientations that existed in the (small) US left, above all Stalinism, Social Democracy, Anarchism, (US) Radical Populism or Marxism. The various NL individuals and currents typically eclectically mixed these and, in addition, continually made major chan ...
... resulted in approaching one or another of the orientations that existed in the (small) US left, above all Stalinism, Social Democracy, Anarchism, (US) Radical Populism or Marxism. The various NL individuals and currents typically eclectically mixed these and, in addition, continually made major chan ...
How Taxes and Spending on Education Influence Economic Growth
... following Nehru & Dhareshwar (1993). The rate of human capital depreciation has been estimated by Manuelli & Seshadri (2005), Arrazola & de Hevia (2004) and others. Following these authors, we set δ H = 1.5% . Next, we must estimate the real rate of return on capital (r). From (6), it follows that r ...
... following Nehru & Dhareshwar (1993). The rate of human capital depreciation has been estimated by Manuelli & Seshadri (2005), Arrazola & de Hevia (2004) and others. Following these authors, we set δ H = 1.5% . Next, we must estimate the real rate of return on capital (r). From (6), it follows that r ...
Aggregate supply
... times when markets have failed to clear for long periods of time. • Keynesian economics was developed out of the great depression of 1930’s when large scale unemployment lasted for a decade. • If it had not been for WW2 it is believed that large scale unemployment would have lasted even longer. • Ke ...
... times when markets have failed to clear for long periods of time. • Keynesian economics was developed out of the great depression of 1930’s when large scale unemployment lasted for a decade. • If it had not been for WW2 it is believed that large scale unemployment would have lasted even longer. • Ke ...
Document
... Economy 1 has a lower starting capital per worker— k(0)1 < k(0)2—and also has a lower steady-state capital per worker— k*1 (the dashed brown line) is less than k*2 (the dashed blue line). Each capital per worker converges over time toward its own steady-state value: k1 (the red curve) toward k*1 , A ...
... Economy 1 has a lower starting capital per worker— k(0)1 < k(0)2—and also has a lower steady-state capital per worker— k*1 (the dashed brown line) is less than k*2 (the dashed blue line). Each capital per worker converges over time toward its own steady-state value: k1 (the red curve) toward k*1 , A ...
Economics - University of Prince Edward Island
... Economics belongs to the branch of knowledge known as the "Social Sciences." The social sciences deal with both intergenerational and intra-generational interactions between human beings in a society. Human activities can, of course, be studied from many different perspectives. We could look at huma ...
... Economics belongs to the branch of knowledge known as the "Social Sciences." The social sciences deal with both intergenerational and intra-generational interactions between human beings in a society. Human activities can, of course, be studied from many different perspectives. We could look at huma ...
Justin Yifu Lin
... understand much about China’s reforms and many economists were not confident about the approach of China’s reform.2 Most economists believed that a market economy should be based on private property rights, a feature that the Chinese economy apparently lacked at that time. China’s state-owned firms ...
... understand much about China’s reforms and many economists were not confident about the approach of China’s reform.2 Most economists believed that a market economy should be based on private property rights, a feature that the Chinese economy apparently lacked at that time. China’s state-owned firms ...
Nature and Scope of Economics
... 3. Efficiency: When we work, we want to get as much as we reasonably can take out of our productive efforts. For this, efficient technology becomes quite useful. 4. An equitable distribution of income: When many live in affluence, no group of citizens should suffer stark poverty. Given this, develop ...
... 3. Efficiency: When we work, we want to get as much as we reasonably can take out of our productive efforts. For this, efficient technology becomes quite useful. 4. An equitable distribution of income: When many live in affluence, no group of citizens should suffer stark poverty. Given this, develop ...
PDF - Center For Global Development
... monetary policies. Critical to this is containing the fiscal deficit and increasing central bank reserves. This does not question the wisdom of using the limited financing available for needed investment but underscores the need to balance channeling most resources into development projects today ag ...
... monetary policies. Critical to this is containing the fiscal deficit and increasing central bank reserves. This does not question the wisdom of using the limited financing available for needed investment but underscores the need to balance channeling most resources into development projects today ag ...
How to interpret the decline in China`s electricity
... economic structure, electricity consumption will have different pattern. In August this year, electricity consumption by the tertiary industry and households accounted for 13% and 14% of the total, up by about three percentage points from the past several years. The proportion of electricity consum ...
... economic structure, electricity consumption will have different pattern. In August this year, electricity consumption by the tertiary industry and households accounted for 13% and 14% of the total, up by about three percentage points from the past several years. The proportion of electricity consum ...