A Critical Evaluation of Jules Dupuit`s Contributions to Economic
... already been discovered, and it will consequently not be the task of this research, with scholarly sleight of hand, to attempt to do so once more. Unfortunately, however, Dupuit has only received what one might call "superficial treatment," from one scholar to the next, with little reference to his ...
... already been discovered, and it will consequently not be the task of this research, with scholarly sleight of hand, to attempt to do so once more. Unfortunately, however, Dupuit has only received what one might call "superficial treatment," from one scholar to the next, with little reference to his ...
Improving Profitability of Optimal Mean Setting with Multiple Feature
... shows the resulting distribution from this second iteration. The solid black line in Figure 3 is the sum of the conforming components from the first and second iterations and represents the distribution of manufactured geometry after the second iteration. The smaller striped area indicates further r ...
... shows the resulting distribution from this second iteration. The solid black line in Figure 3 is the sum of the conforming components from the first and second iterations and represents the distribution of manufactured geometry after the second iteration. The smaller striped area indicates further r ...
Capital and Production
... Munich under the editorship of Professor Barry Smith. The English translation is due to the efforts of Professor Hans-Hermann and Mrs. Margaret Hoppe, and has been made possible by a gift to the Mises Institute by Dr. Mark Skousen. It has been distributed for some time as a typewritten manuscript an ...
... Munich under the editorship of Professor Barry Smith. The English translation is due to the efforts of Professor Hans-Hermann and Mrs. Margaret Hoppe, and has been made possible by a gift to the Mises Institute by Dr. Mark Skousen. It has been distributed for some time as a typewritten manuscript an ...
The Philosophical Underpinnings of Production of Commodities by
... in the hands of separate industries after the production process is over. In this case Sraffa finds that there is a set of exchange ratios or prices of commodities that “spring directly from the methods of production” which can restore the original distribution of the commodities and make it possibl ...
... in the hands of separate industries after the production process is over. In this case Sraffa finds that there is a set of exchange ratios or prices of commodities that “spring directly from the methods of production” which can restore the original distribution of the commodities and make it possibl ...
Effect of Profit Warning on Stock Returns
... According to Olowoniyi and Ojenike (2012), stock returns are affected by a number of factors which are either micro or macro. From their research, they identified that issues of stock returns are the most important reason for business growth or failure. They identified a firms expected growth, size ...
... According to Olowoniyi and Ojenike (2012), stock returns are affected by a number of factors which are either micro or macro. From their research, they identified that issues of stock returns are the most important reason for business growth or failure. They identified a firms expected growth, size ...
01/2014 Esteban Pérez Caldentey and Matías Vernengo Raúl Prebisch and Economic Dynamics:
... distinction between ‘neoclassical’ and Keynesian theory. Both are guilty of the same flaw. Prebisch’s critique of neoclassical theory is aimed at the marginal productivity theory (MPT). Prebisch argued that MPT implies that the evolution of a market economy could only be characterized in the form of ...
... distinction between ‘neoclassical’ and Keynesian theory. Both are guilty of the same flaw. Prebisch’s critique of neoclassical theory is aimed at the marginal productivity theory (MPT). Prebisch argued that MPT implies that the evolution of a market economy could only be characterized in the form of ...
THE GREAT DIVERGENCE REVISITED: INDUSTRIALIZATION
... enhancing since it leads to higher efforts by new elite (capitalists) in lobbying modern sector development. The reason is that if all capitalists have a similar and rather small share in the aggregate capital then all of them may lack incentives to influence the outcome of conflict due to the low i ...
... enhancing since it leads to higher efforts by new elite (capitalists) in lobbying modern sector development. The reason is that if all capitalists have a similar and rather small share in the aggregate capital then all of them may lack incentives to influence the outcome of conflict due to the low i ...
Is Piketty`s âSecond Law of Capitalismâ Fundamental? 1 Introduction
... time, then the capital-to-income ratio k/y must, in the long run, become equal to s/g, where g is the economy’s growth rate.3 In particular, were the economy’s growth rate to decline ...
... time, then the capital-to-income ratio k/y must, in the long run, become equal to s/g, where g is the economy’s growth rate.3 In particular, were the economy’s growth rate to decline ...
Consumer and Producer Surplus - University of Colorado Boulder
... students who took a course decide that the money ...
... students who took a course decide that the money ...
The Entrepreneur: Real and Imagined
... liabilities. If he succeeds the net profit is his. If he fails the loss must fall upon the capitalists, who have lent him the funds. Such an entrepreneur would, in fact, be an employee of the capitalists who speculates on their account and takes a 100% share in the net profits without being concerne ...
... liabilities. If he succeeds the net profit is his. If he fails the loss must fall upon the capitalists, who have lent him the funds. Such an entrepreneur would, in fact, be an employee of the capitalists who speculates on their account and takes a 100% share in the net profits without being concerne ...
Michael
... increase in the general level of unemployment. Also not considered are policies of "adjustment assistance" that might be used either to facilitate the movement of resources out of previously protected industries or to compensate the owners of these resources for income lost due to the removal of ...
... increase in the general level of unemployment. Also not considered are policies of "adjustment assistance" that might be used either to facilitate the movement of resources out of previously protected industries or to compensate the owners of these resources for income lost due to the removal of ...
The Opportunity Costs of Rent Seeking
... II. The costs of theft We start with the example of thieves, whom we treat as rent-seekers. Thieves consume resources in the form of guns, crowbars, etc. in their efforts to break into houses and steal goods. With perfect competition in all markets the quantity of resources invested in burglary equ ...
... II. The costs of theft We start with the example of thieves, whom we treat as rent-seekers. Thieves consume resources in the form of guns, crowbars, etc. in their efforts to break into houses and steal goods. With perfect competition in all markets the quantity of resources invested in burglary equ ...
The Industrial Revolution in Theory and in History
... worker in the US in 2000 was still greater at $210,500. The share of income derived from this human capital investment per worker, assuming a 10% return on the investment in line with the estimates of George Psacharopoulos, was 26%, compared to 28% for physical capital.8 But if we look at economic g ...
... worker in the US in 2000 was still greater at $210,500. The share of income derived from this human capital investment per worker, assuming a 10% return on the investment in line with the estimates of George Psacharopoulos, was 26%, compared to 28% for physical capital.8 But if we look at economic g ...
Measuring Intangible Capital with Uncertainty
... Li (2009) introduces intangible capital in the two-sector neoclassical growth model with uncertainty that features investment-speci c technology shock and adjustment costs, and uses linear approximation to solve the model and Kalman lter to estimate the value of intangible capital from macroeconomi ...
... Li (2009) introduces intangible capital in the two-sector neoclassical growth model with uncertainty that features investment-speci c technology shock and adjustment costs, and uses linear approximation to solve the model and Kalman lter to estimate the value of intangible capital from macroeconomi ...
PDF
... One key feature of the NRA literature, stressed in this review, is its paradigmatic diversity. The literature is contributed to by economic theorists; by applied economists; by ecological economists; and by national accountants. As a result, concepts, assumptions and terminology vary throughout the ...
... One key feature of the NRA literature, stressed in this review, is its paradigmatic diversity. The literature is contributed to by economic theorists; by applied economists; by ecological economists; and by national accountants. As a result, concepts, assumptions and terminology vary throughout the ...
5.1.3 Net Price and User Cost Applications
... One key feature of the NRA literature, stressed in this review, is its paradigmatic diversity. The literature is contributed to by economic theorists; by applied economists; by ecological economists; and by national accountants. As a result, concepts, assumptions and terminology vary throughout the ...
... One key feature of the NRA literature, stressed in this review, is its paradigmatic diversity. The literature is contributed to by economic theorists; by applied economists; by ecological economists; and by national accountants. As a result, concepts, assumptions and terminology vary throughout the ...
Saving and the National Economy
... possible to equate income to sustainable consumption. Nevertheless net income, as measured in national accounting terms could be related to current and future consumption possibilities. Saving defined, on the same basis, was equal to the increase in the below. ...
... possible to equate income to sustainable consumption. Nevertheless net income, as measured in national accounting terms could be related to current and future consumption possibilities. Saving defined, on the same basis, was equal to the increase in the below. ...
This PDF is a selection from a published volume from... National Bureau of Economic Research
... ally on a fairly different topic. There’s very little overlap. Its title is “Struggling to Understand the Stock Market.” It does one thing that is routine that I won’t dwell on. It makes the case from financial economics that we really have no reason to condemn the stock market as irrational. If it w ...
... ally on a fairly different topic. There’s very little overlap. Its title is “Struggling to Understand the Stock Market.” It does one thing that is routine that I won’t dwell on. It makes the case from financial economics that we really have no reason to condemn the stock market as irrational. If it w ...
Measuring Intangible Capital with Uncertainty
... capital stock and return to investments in this economy. Furthermore, we study the movement in the asset value relative to the measures of capital in this economy and whether the time series variation in observed book-to-value (B/M) ratio of the stock market as shown in Figure 3 can be accounted by ...
... capital stock and return to investments in this economy. Furthermore, we study the movement in the asset value relative to the measures of capital in this economy and whether the time series variation in observed book-to-value (B/M) ratio of the stock market as shown in Figure 3 can be accounted by ...
The Implications of Wage Structure Rigidity on Human Capital
... the competitive process by which entrepreneurs are always looking for new ideas that will render their rivals` ideas obsolete. I present a model in which the rate of economic growth is sensitive to the interactions between relative wage and human capital accumulation. Human capital is an important s ...
... the competitive process by which entrepreneurs are always looking for new ideas that will render their rivals` ideas obsolete. I present a model in which the rate of economic growth is sensitive to the interactions between relative wage and human capital accumulation. Human capital is an important s ...
A closer look at the economic problem
... goods, on the other hand, are goods that are purchased to be used as inputs in producing other goods. Intermediate goods are thus processed further before they are sold to end users. Flour used by a baker is an intermediate good. The baker does not consume it. The flour is processed into bread, cake ...
... goods, on the other hand, are goods that are purchased to be used as inputs in producing other goods. Intermediate goods are thus processed further before they are sold to end users. Flour used by a baker is an intermediate good. The baker does not consume it. The flour is processed into bread, cake ...
N 15
... “Bourgeois” believers were if anything even less sophisticated. As the opening sentence of a famous book review suggested, “technical determinism in historical studies has often been combined with adventurous speculations particularly attractive to those who like to have complex developments explain ...
... “Bourgeois” believers were if anything even less sophisticated. As the opening sentence of a famous book review suggested, “technical determinism in historical studies has often been combined with adventurous speculations particularly attractive to those who like to have complex developments explain ...
Managerial Accounting
... The sales mix is constant in multi-product companies. This assumption is invoked in order to use the simple break-even and target profit formulas in multi-product firms. If unit contribution margins are fairly uniform across products, violations of this assumption will not be important. However, if ...
... The sales mix is constant in multi-product companies. This assumption is invoked in order to use the simple break-even and target profit formulas in multi-product firms. If unit contribution margins are fairly uniform across products, violations of this assumption will not be important. However, if ...
Deadweight Loss
... floor is imposed. The impact on producer surplus is ambiguous. On the one hand, those producers who are fortunate enough to sell at a higher price will obtain more producer surplus. But because the quantity demanded is lower at the higher price, there will be a loss of producer surplus for those pro ...
... floor is imposed. The impact on producer surplus is ambiguous. On the one hand, those producers who are fortunate enough to sell at a higher price will obtain more producer surplus. But because the quantity demanded is lower at the higher price, there will be a loss of producer surplus for those pro ...
Dictatorship, Interest Groups and Government Predation: The Case
... partisan Fast Track Land Resettlement Programme (FTLRP). The FTLRP was supposedly completed in 2002, but farm occupations continued amidst intensified contestation over land claims (Chavunduka and Bromley 2010). There was also a very poor agricultural season in much of Southern Africa , including Zi ...
... partisan Fast Track Land Resettlement Programme (FTLRP). The FTLRP was supposedly completed in 2002, but farm occupations continued amidst intensified contestation over land claims (Chavunduka and Bromley 2010). There was also a very poor agricultural season in much of Southern Africa , including Zi ...
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).