scarcity, abundance and sufficiency - GUPEA
... may be excluded from accessing. There is also water, land, medicine, energy, oil, jobs, capital, money, time, housing, clothing, knowledge, education, the Internet, roads, seats in a bus, mobile phones, candy, cakes and so on and so forth. Individuals want various things, from essential to non-essen ...
... may be excluded from accessing. There is also water, land, medicine, energy, oil, jobs, capital, money, time, housing, clothing, knowledge, education, the Internet, roads, seats in a bus, mobile phones, candy, cakes and so on and so forth. Individuals want various things, from essential to non-essen ...
Nietzsche and the Ge..
... 1. Preface: Nietzsche and the late 19th Century Economic Agenda. From the viewpoint of modern mainstream economics, Nietzsche would hardly be considered as having made any contributions, directly or indirectly, to the economics profession. However, seen in the light of the German, and indeed Contin ...
... 1. Preface: Nietzsche and the late 19th Century Economic Agenda. From the viewpoint of modern mainstream economics, Nietzsche would hardly be considered as having made any contributions, directly or indirectly, to the economics profession. However, seen in the light of the German, and indeed Contin ...
Neoliberalism as Concept
... This paper advances a third way of answering the question by interrogating neoliberalism as a signifier and exploring its conceptual landscape. This approach does not take neoliberalism as a given body of ...
... This paper advances a third way of answering the question by interrogating neoliberalism as a signifier and exploring its conceptual landscape. This approach does not take neoliberalism as a given body of ...
THE POLICY ANALYSIS MATRIX FOR AGRICULTURAL DEVELOPMENT Eric A. Monke Scott R. Pearson
... Rationales for Intervention A second One reason that governments impose policies on their agricultural sector is the belief that intervention can accelerate the rate of income growth. Investment policies-the provision of public goods, such as the research and development of new technologies and inf ...
... Rationales for Intervention A second One reason that governments impose policies on their agricultural sector is the belief that intervention can accelerate the rate of income growth. Investment policies-the provision of public goods, such as the research and development of new technologies and inf ...
Rothbard on Consumer Sovereignty and His Implicit Rejection of
... and theorems in the discussion that he had established elsewhere in the treatise but which the typical reader is unlikely to link to an economic theorem. In spite of the difficulty of interpreting Mises, a student of Mises cannot afford to ignore the logic of his chapter in Human Action on the “Harm ...
... and theorems in the discussion that he had established elsewhere in the treatise but which the typical reader is unlikely to link to an economic theorem. In spite of the difficulty of interpreting Mises, a student of Mises cannot afford to ignore the logic of his chapter in Human Action on the “Harm ...
James Tobin - Willem Buiter
... flow-of- funds models has been a mixed success at best. Problems of collinearity among asset returns make the accurate estimation of own and cross effects problematic. Attempts to address this problem through the use of subjective priors were intriguing but in the end not wholly convincing. Tobin’s ...
... flow-of- funds models has been a mixed success at best. Problems of collinearity among asset returns make the accurate estimation of own and cross effects problematic. Attempts to address this problem through the use of subjective priors were intriguing but in the end not wholly convincing. Tobin’s ...
The Philosophical Underpinnings of Production of Commodities by
... Along with the collapse of the atomistic theory of meaning of the Tractatus, the essentialist aspect of his previous theory also falls by the wayside as Wittgenstein recognises that in general the meaning of words cannot be strictly defined. It varies from one context of its use to another and these ...
... Along with the collapse of the atomistic theory of meaning of the Tractatus, the essentialist aspect of his previous theory also falls by the wayside as Wittgenstein recognises that in general the meaning of words cannot be strictly defined. It varies from one context of its use to another and these ...
NBER WORKING PAPER SERIES JAMES TOBIN: AN APPRECIATION OF HIS
... flow-of-funds models has been a mixed success at best. Problems of collinearity among asset returns make the accurate estimation of own and cross effects problematic. Attempts to address this problem through the use of subjective priors were intriguing but in the end not wholly convincing. Tobin’s s ...
... flow-of-funds models has been a mixed success at best. Problems of collinearity among asset returns make the accurate estimation of own and cross effects problematic. Attempts to address this problem through the use of subjective priors were intriguing but in the end not wholly convincing. Tobin’s s ...
Monopoly
... patent - grant of an exclusive right to use a specific process or produce a specific product for a period of time (17 years in the U.S.) licenses and franchises - permission, granted by a government, to enter an industry or occupation ...
... patent - grant of an exclusive right to use a specific process or produce a specific product for a period of time (17 years in the U.S.) licenses and franchises - permission, granted by a government, to enter an industry or occupation ...
Chapter 12 - Parkin - Home : University of Miami School of
... Competition and Efficiency Allocative efficiency occurs when no resources are wasted. This means no individual can be made better off without making someone else worse off. In the absence of any obstacles, perfect competition leads to allocative efficiency. ...
... Competition and Efficiency Allocative efficiency occurs when no resources are wasted. This means no individual can be made better off without making someone else worse off. In the absence of any obstacles, perfect competition leads to allocative efficiency. ...
Bounded Rationality and the Emergence of
... consistency view in economics was further entrenched by the axiomatization of economic theory. Apart from these developments, two other developments that are usually mentioned in discussing rationality in modern economics, namely, game theory and rational expectations. Formal treatments of game the ...
... consistency view in economics was further entrenched by the axiomatization of economic theory. Apart from these developments, two other developments that are usually mentioned in discussing rationality in modern economics, namely, game theory and rational expectations. Formal treatments of game the ...
The happiness of sociality. Economics and eudaimonia: A
... b) In cross-sectional data among countries, instead, the positive association wealth-happiness, although present, is neither general nor robust, and poorer countries do not always appear to be less happy than richer countries: ‘if there is a positive association among countries between income and h ...
... b) In cross-sectional data among countries, instead, the positive association wealth-happiness, although present, is neither general nor robust, and poorer countries do not always appear to be less happy than richer countries: ‘if there is a positive association among countries between income and h ...
Murphy, Eithne (2013) The evolution of trade theory: an exercise in
... of the scientists, saying that it was a different creative process, insofar as science reflects a belief in progress and the future.1 The achievements that the (natural) scientists in their respective disciplines recounted ranged from: the discovery of the HIV virus; the discovery of a protein that ...
... of the scientists, saying that it was a different creative process, insofar as science reflects a belief in progress and the future.1 The achievements that the (natural) scientists in their respective disciplines recounted ranged from: the discovery of the HIV virus; the discovery of a protein that ...
Efficiency, Exchange, and Auction
... the rancher will negotiate and trade until it is no longer beneficial (profitable) for either (or both) to trade further. The point at which bargaining ceases represents an efficient allocation of cows and corn. There, the resources are put to their most productive use. This point is represented by ...
... the rancher will negotiate and trade until it is no longer beneficial (profitable) for either (or both) to trade further. The point at which bargaining ceases represents an efficient allocation of cows and corn. There, the resources are put to their most productive use. This point is represented by ...
NBER WORKING PAPER SERIES RATIONAL ADDICTION, PEER EXTERNALITIES Donald S. Kenkel
... peer drinking is associated with an equal increase in the probability that an individual will choose ...
... peer drinking is associated with an equal increase in the probability that an individual will choose ...
Tinbergen`s business cycle analysis
... Until the major crisis of the 1930s there was no clear division between the two types of work, but rather, a reciprocal influence that often became apparent. Theoretical deduction and empirical induction cohabited in some harmony under the aegis of a positivist view of historical events. This tradit ...
... Until the major crisis of the 1930s there was no clear division between the two types of work, but rather, a reciprocal influence that often became apparent. Theoretical deduction and empirical induction cohabited in some harmony under the aegis of a positivist view of historical events. This tradit ...
Economic impact of tourism marketing expenditure in Tasmania
... aren’t building many new factories or much office space, and they’re not buying much by way of new machinery or equipment either. And the slowdown is also evident in housing construction, which remains in reverse gear. Perhaps most remarkably, it is evident in the pullback in spending by families, w ...
... aren’t building many new factories or much office space, and they’re not buying much by way of new machinery or equipment either. And the slowdown is also evident in housing construction, which remains in reverse gear. Perhaps most remarkably, it is evident in the pullback in spending by families, w ...
PDF
... implied that environmental regulation did not always have to be based on constraints, but could also be based on voluntary self-regulation and mutual regulation between different groups of actors. One of these actor groups was the consumers, who could contribute to environmental improvements through ...
... implied that environmental regulation did not always have to be based on constraints, but could also be based on voluntary self-regulation and mutual regulation between different groups of actors. One of these actor groups was the consumers, who could contribute to environmental improvements through ...
Factors affecting the economic and social well
... economically and culturally, only later to decline and even disappear. At the earliest stages of economic development^, the agricultural sector is the only sector in the "economy". Only after individuals have produced enough to exceed their own consumption requirements do exchange and trade become f ...
... economically and culturally, only later to decline and even disappear. At the earliest stages of economic development^, the agricultural sector is the only sector in the "economy". Only after individuals have produced enough to exceed their own consumption requirements do exchange and trade become f ...
From Political Economy to Economics
... were to provide a relatively full picture of the newly identified subject matter. This book then uncovers the way in which the social and the historical, but also the methodological, have shifted in presence and content within economic theory during the passage from classical political economy to gen ...
... were to provide a relatively full picture of the newly identified subject matter. This book then uncovers the way in which the social and the historical, but also the methodological, have shifted in presence and content within economic theory during the passage from classical political economy to gen ...
PDF
... future in various ways, a positive impact is not exactly self-evident. If sustainability is, however, considered as a central goal of the bioeconomy, there may be a good chance of achieving a positive environmental and social impact, while ensuring economic growth through innovative products and the ...
... future in various ways, a positive impact is not exactly self-evident. If sustainability is, however, considered as a central goal of the bioeconomy, there may be a good chance of achieving a positive environmental and social impact, while ensuring economic growth through innovative products and the ...
Block III - Bhoj University
... investment banks) may solely influence the market price. This, of course, violates the condition that "no one seller can influence market price". eBay auctions can be often seen as perfectly competitive. There are very low barriers to entry (anyone can sell a product, provided they have some knowled ...
... investment banks) may solely influence the market price. This, of course, violates the condition that "no one seller can influence market price". eBay auctions can be often seen as perfectly competitive. There are very low barriers to entry (anyone can sell a product, provided they have some knowled ...
Economics (ECON) - Northeastern University
... Covers many of the contested economic issues that the United States faces as a nation—the size of government, the national debt, the war on drugs, national healthcare, taxation, and many more. An important social system in any society is the economic system—the allocation of scarce resources. In the ...
... Covers many of the contested economic issues that the United States faces as a nation—the size of government, the national debt, the war on drugs, national healthcare, taxation, and many more. An important social system in any society is the economic system—the allocation of scarce resources. In the ...
Other-Regarding Preferences in General Equilibrium - U
... agents’ opportunity sets instead of only their own consumption bundle. We investigate the hypothesis that individuals with ORP may behave as classical egoistic agents in competitive markets by asking under what conditions the demand function of ORP individuals is independent of the consumption and o ...
... agents’ opportunity sets instead of only their own consumption bundle. We investigate the hypothesis that individuals with ORP may behave as classical egoistic agents in competitive markets by asking under what conditions the demand function of ORP individuals is independent of the consumption and o ...
Economics
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Economics is the social science that seeks to describe the factors which determine the production, distribution and consumption of goods and services.The term economics comes from the Ancient Greek οἰκονομία from οἶκος (oikos, ""house"") and νόμος (nomos, ""custom"" or ""law""), hence ""rules of the house (hold for good management)"". 'Political economy' was the earlier name for the subject, but economists in the late 19th century suggested ""economics"" as a shorter term for ""economic science"" to establish itself as a separate discipline outside of political science and other social sciences.Economics focuses on the behavior and interactions of economic agents and how economies work. Consistent with this focus, primary textbooks often distinguish between microeconomics and macroeconomics. Microeconomics examines the behavior of basic elements in the economy, including individual agents and markets, their interactions, and the outcomes of interactions. Individual agents may include, for example, households, firms, buyers, and sellers. Macroeconomics analyzes the entire economy (meaning aggregated production, consumption, savings, and investment) and issues affecting it, including unemployment of resources (labor, capital, and land), inflation, economic growth, and the public policies that address these issues (monetary, fiscal, and other policies).Other broad distinctions within economics include those between positive economics, describing ""what is,"" and normative economics, advocating ""what ought to be""; between economic theory and applied economics; between rational and behavioral economics; and between mainstream economics (more ""orthodox"" and dealing with the ""rationality-individualism-equilibrium nexus"") and heterodox economics (more ""radical"" and dealing with the ""institutions-history-social structure nexus"").Besides the traditional concern in production, distribution, and consumption in an economy, economic analysis may be applied throughout society, as in business, finance, health care, and government. Economic analyses may also be applied to such diverse subjects as crime, education, the family, law, politics, religion, social institutions, war, science, and the environment. Education, for example, requires time, effort, and expenses, plus the foregone income and experience, yet these losses can be weighted against future benefits education may bring to the agent or the economy. At the turn of the 21st century, the expanding domain of economics in the social sciences has been described as economic imperialism.The ultimate goal of economics is to improve the living conditions of people in their everyday life.