12 Resources & Natural Capital
... perhaps against the standing crop of human flesh, just as nature had done many times to other detritusconsuming species following their exuberant expansion in response to the savings deposits their ecosystems had accumulated before they got the opportunity to begin the drawdown... Having become a sp ...
... perhaps against the standing crop of human flesh, just as nature had done many times to other detritusconsuming species following their exuberant expansion in response to the savings deposits their ecosystems had accumulated before they got the opportunity to begin the drawdown... Having become a sp ...
Draft preface
... a paid functionary (albeit well paid) while the capitalist as owner is reduced to a functionless rentier. The personal ownership of the rentier, in its turn, becomes a juridical fiction, a pure level 3 relation concerned only with the distribution of surplus value and carrying with it no effective c ...
... a paid functionary (albeit well paid) while the capitalist as owner is reduced to a functionless rentier. The personal ownership of the rentier, in its turn, becomes a juridical fiction, a pure level 3 relation concerned only with the distribution of surplus value and carrying with it no effective c ...
Mankiw8e_Student_PPTs_Chapter 9 - E-SGH
... This property is called balanced growth. In the steady state, output per worker, Y/L, and capital stock per worker, K/L, both grow at rate g, which is the rate of technological progress. This is consistent with U.S. data in that g has been about 2 percent consistently over the past 50 years. Technol ...
... This property is called balanced growth. In the steady state, output per worker, Y/L, and capital stock per worker, K/L, both grow at rate g, which is the rate of technological progress. This is consistent with U.S. data in that g has been about 2 percent consistently over the past 50 years. Technol ...
Economic Growth II
... This property is called balanced growth. In the steady state, output per worker, Y/L, and capital stock per worker, K/L, both grow at rate g, which is the rate of technological progress. This is consistent with U.S. data in that g has been about 2 percent consistently over the past 50 years. Technol ...
... This property is called balanced growth. In the steady state, output per worker, Y/L, and capital stock per worker, K/L, both grow at rate g, which is the rate of technological progress. This is consistent with U.S. data in that g has been about 2 percent consistently over the past 50 years. Technol ...
Price of Information - How do we put a value on it?
... measure that value? What criteria do we use? Does information only have an economic value or is there a social value too? ...
... measure that value? What criteria do we use? Does information only have an economic value or is there a social value too? ...
Classical Economics Versus The Exploitation Theory
... There are three aspects of classical economics which contribute to the exploitation theory. The two best known are, of course, the labor theory of value and the iron law of wages. Somewhat less prominent, but no less important, is the conceptual framework within which the exploitation theory is adva ...
... There are three aspects of classical economics which contribute to the exploitation theory. The two best known are, of course, the labor theory of value and the iron law of wages. Somewhat less prominent, but no less important, is the conceptual framework within which the exploitation theory is adva ...
From the Archives - Fraser Institute
... are entirely subjective. Goods or services always have some kind of value to individuals—at least to economizing individuals who are sensitive to scarcity and prices—and their marginal value can only be determined by those individuals. In other words, value is in the eye of the beholder. Since value ...
... are entirely subjective. Goods or services always have some kind of value to individuals—at least to economizing individuals who are sensitive to scarcity and prices—and their marginal value can only be determined by those individuals. In other words, value is in the eye of the beholder. Since value ...
capitalism - worldhistorynulty
... individuals from living for their own sake. There should be no worker exploitation in a purely capitalist society, capitalists argue, because all workers are free to choose their employers. (It should be noted, however, that supporters of capitalism do not consider a job that does not completely sat ...
... individuals from living for their own sake. There should be no worker exploitation in a purely capitalist society, capitalists argue, because all workers are free to choose their employers. (It should be noted, however, that supporters of capitalism do not consider a job that does not completely sat ...
Socialist alternatives to capitalism II: Vienna to Santa Fe
... capitalist economies, and even have flourished in some circumstances. They have a long history in the Basque country of Spain, the American midwest, and Italy, among many other places. For some years a major European economy, Yugoslavia, was committed to the workers’ control form of organization of ...
... capitalist economies, and even have flourished in some circumstances. They have a long history in the Basque country of Spain, the American midwest, and Italy, among many other places. For some years a major European economy, Yugoslavia, was committed to the workers’ control form of organization of ...
Has Burczak Shown How Socialism Can Survive Hayek?
... with some of the problems potentially associated with cooperatives, with both much experience and a long literature available on this matter (Prychitko and Vanek, 1996). Without doubt there is much evidence showing advantages to worker-managed cooperatives. They are often more efficient due to close ...
... with some of the problems potentially associated with cooperatives, with both much experience and a long literature available on this matter (Prychitko and Vanek, 1996). Without doubt there is much evidence showing advantages to worker-managed cooperatives. They are often more efficient due to close ...
Market power and food system
... general than the second, requiring far weaker assumptions. The first theorem is often taken to be an analytical confirmation of Adam Smith's "invisible hand" hypothesis, namely that competitive markets tend toward the efficient allocation of resources. The theorem supports a case for non-interventio ...
... general than the second, requiring far weaker assumptions. The first theorem is often taken to be an analytical confirmation of Adam Smith's "invisible hand" hypothesis, namely that competitive markets tend toward the efficient allocation of resources. The theorem supports a case for non-interventio ...
Theories of hospitals as firms
... MR = the addition to revenue resulting from a 1 unit increase in quantity sold. MR the same over all Qs Profit maximising quantity is where MC = MR. Imperfect competition: Each firm faces a downward sloping demand curve MR schedule also downward sloping Profit maximising quantity is wher ...
... MR = the addition to revenue resulting from a 1 unit increase in quantity sold. MR the same over all Qs Profit maximising quantity is where MC = MR. Imperfect competition: Each firm faces a downward sloping demand curve MR schedule also downward sloping Profit maximising quantity is wher ...
Economic Costs and Consequences of War
... The transfer problem refers to the need for real resources to accompany the international transfer of financial resources between two countries or groups of countries in order for the latter to take place. Under standard assumptions, the problem is that for country A that loses a war to make reparat ...
... The transfer problem refers to the need for real resources to accompany the international transfer of financial resources between two countries or groups of countries in order for the latter to take place. Under standard assumptions, the problem is that for country A that loses a war to make reparat ...
The perfectly competitive firm`s supply curve is its Marginal cost
... Since productivity (MPL) typically first increases and then decreases (at the point of DMR), what will marginal costs do? When productivity is rising, marginal costs ...
... Since productivity (MPL) typically first increases and then decreases (at the point of DMR), what will marginal costs do? When productivity is rising, marginal costs ...
ECA Farms, INC. - OSU South Centers
... Sell to Existing Importers Sell to Value added Processors Sell to Regional Distributors Sell Direct to Restaurants / Retailers ...
... Sell to Existing Importers Sell to Value added Processors Sell to Regional Distributors Sell Direct to Restaurants / Retailers ...
Islam-and-economic
... country government that also lead to development failure. These range from wellmeaning mismanagement, to inappropriate objectives, to ruinous corruption. In the first category, many countries have attempted paths of self-reliant development with mixed success. The accepted method now is to try to at ...
... country government that also lead to development failure. These range from wellmeaning mismanagement, to inappropriate objectives, to ruinous corruption. In the first category, many countries have attempted paths of self-reliant development with mixed success. The accepted method now is to try to at ...
static model of production and the evolution of economics
... whose fundamental cause is undesirable gyration of total spending (aggregate demand). Although not entirely eradicable recessions and inflation can and should be ameliorated by enlightened administration of medicines the government know how to dispense - control of aggregate demand through monetary ...
... whose fundamental cause is undesirable gyration of total spending (aggregate demand). Although not entirely eradicable recessions and inflation can and should be ameliorated by enlightened administration of medicines the government know how to dispense - control of aggregate demand through monetary ...
Preindustrial Capitalist Forms
... individual capitalist (…) But this inherent tendency of capitalist production does not become adequately realized –it does not become indispensable, and that also means technologically indispensable— until the specific mode of capitalist production and hence the real subsumption of labor under capit ...
... individual capitalist (…) But this inherent tendency of capitalist production does not become adequately realized –it does not become indispensable, and that also means technologically indispensable— until the specific mode of capitalist production and hence the real subsumption of labor under capit ...
How capitalists learned to stop worrying and love the crisis
... groups in society. In order to increase their power, approximated by their income share, capitalists have to strategically sabotage the rest of society. And one of their key weapons in this struggle is unemployment. The effect of unemployment on distribution is not obvious, at least not at first sig ...
... groups in society. In order to increase their power, approximated by their income share, capitalists have to strategically sabotage the rest of society. And one of their key weapons in this struggle is unemployment. The effect of unemployment on distribution is not obvious, at least not at first sig ...
At P*MKT
... It keeps prices high It reduces total economic surplus It would allow some poor families to buy the good at the reduced price. [However, the same objective could have been accomplished with less waste.] ...
... It keeps prices high It reduces total economic surplus It would allow some poor families to buy the good at the reduced price. [However, the same objective could have been accomplished with less waste.] ...
National Income
... Working Population OR Labour Force Working Population=Employed+Unemployed+Self-employed ...
... Working Population OR Labour Force Working Population=Employed+Unemployed+Self-employed ...
Marginal costs and benefits
... Cost, Price and Producer Surplus A supply curve (S) is a MC curve. S tells us the dollars worth of other goods and services that firms must forgo to produce one more pizza. That is, the S shows the seller’s cost of producing each unit of pizza. ...
... Cost, Price and Producer Surplus A supply curve (S) is a MC curve. S tells us the dollars worth of other goods and services that firms must forgo to produce one more pizza. That is, the S shows the seller’s cost of producing each unit of pizza. ...
Marx, Sombart, Weber and the Debate about the Genesis of
... What is modern capitalism? The question was posed most forcefully by Max Weber. He observed that other forms of capitalism - merchant capitalism, in particular - had existed for millennia. The adventure capitalism of the times of conquest in the age of discoveries had largely been driven by a capita ...
... What is modern capitalism? The question was posed most forcefully by Max Weber. He observed that other forms of capitalism - merchant capitalism, in particular - had existed for millennia. The adventure capitalism of the times of conquest in the age of discoveries had largely been driven by a capita ...
Bus 40-Chapter 10
... Extent of ownership (fee simple or partial) to be appraised. Date and purpose of the appraisal (usually to establish market value). Any limiting conditions (facts unknown to the appraiser). Fee for appraiser’s services. ...
... Extent of ownership (fee simple or partial) to be appraised. Date and purpose of the appraisal (usually to establish market value). Any limiting conditions (facts unknown to the appraiser). Fee for appraiser’s services. ...
Surplus value
Surplus value is a central concept in Karl Marx's critique of political economy. Marx did not himself invent the term, he developed the concept. ""Surplus value"" is a translation of the German word ""Mehrwert"", which simply means value added (sales revenue less the cost of materials used up). Conventionally, value-added is equal to the sum of gross wage income and gross profit income. However, Marx's use of this concept is different, because for Marx, the Mehrwert refers to the yield, profit or return on production capital invested, i.e. the amount of the increase in the value of capital. Hence, Marx's use of Mehrwert has always been translated as ""surplus value"", distinguishing it from ""value-added"". According to Marx's theory, surplus value is equal to the new value created by workers in excess of their own labour-cost, which is appropriated by the capitalist as profit when products are sold.Marx thought that the gigantic increase in wealth and population from the 19th century onwards was mainly due to the competitive striving to obtain maximum surplus-value from the employment of labor, resulting in an equally gigantic increase of productivity and capital resources. To the extent that increasingly the economic surplus is convertible into money and expressed in money, the amassment of wealth is possible on a larger and larger scale (see capital accumulation and surplus product).