1Economics for business
... will have a maximum price that you are willing to buy at; the more desirable you find the product, the greater will be your maximum price. In contrast, firms will have a minimum price at which they are willing to sell at; the easier or cheaper it is to make the good, the lower this minimum price can ...
... will have a maximum price that you are willing to buy at; the more desirable you find the product, the greater will be your maximum price. In contrast, firms will have a minimum price at which they are willing to sell at; the easier or cheaper it is to make the good, the lower this minimum price can ...
To the Interpretation of Spontaneous Order
... In this intellectual context, there occurred a certain renaissance and rediscovery of Alfred Schutz2 whose popularity still seems to be rising.3 There are probably at least three reasons why the Austrian economists find Schutz interesting: First, whereas more well-known proponents of the hermeneutic ...
... In this intellectual context, there occurred a certain renaissance and rediscovery of Alfred Schutz2 whose popularity still seems to be rising.3 There are probably at least three reasons why the Austrian economists find Schutz interesting: First, whereas more well-known proponents of the hermeneutic ...
Competition, Catallaxy, and 21st Century Capitalism
... challenge for Austrians as it appears to leave them without a “welfare standard.” How would Austrians know when the economy is doing better or worse if it has no purpose of its own? A good deal of ink has been spilled on this question in the post-revival years of Austrian economics. Coming out of Ha ...
... challenge for Austrians as it appears to leave them without a “welfare standard.” How would Austrians know when the economy is doing better or worse if it has no purpose of its own? A good deal of ink has been spilled on this question in the post-revival years of Austrian economics. Coming out of Ha ...
английский язык
... and demand are viewed and considered. The focus in microeconomics is on supply and demand for a single product or at most the products offered by one company, while macroeconomics deals with aggregate supply and demand for an entire country or worldwide economy. Most economists recognize the importa ...
... and demand are viewed and considered. The focus in microeconomics is on supply and demand for a single product or at most the products offered by one company, while macroeconomics deals with aggregate supply and demand for an entire country or worldwide economy. Most economists recognize the importa ...
Is Capital in the Twenty-First Century, Das Kapital for the twenty
... distribution of income and wealth became more equal. Finally, in Period III, which goes from 1950 to 2012, the trends of Period II are reversed, but the levels of Period I have not yet been reached. Piketty extrapolates this trend to the year 2100 and predicts even more extreme values than character ...
... distribution of income and wealth became more equal. Finally, in Period III, which goes from 1950 to 2012, the trends of Period II are reversed, but the levels of Period I have not yet been reached. Piketty extrapolates this trend to the year 2100 and predicts even more extreme values than character ...
1 THE ACCUMULATION PROCESS IN THE PERIOD OF GLOBALIZATION
... in the world has increased significantly, and given the fact that the income elasticity of demand for cereals (consumed both directly and indirectly via processed food and animal feed) is markedly positive (even if less than one), a stagnant or declining per capita cereal output should have spelled ...
... in the world has increased significantly, and given the fact that the income elasticity of demand for cereals (consumed both directly and indirectly via processed food and animal feed) is markedly positive (even if less than one), a stagnant or declining per capita cereal output should have spelled ...
Economy: The Author`s Self-Evaluation
... strict line of thinking or produced a model that drew conclusionsfrom preciselyformulated assumptions. Advocates of both strategies blended knowledge from economics with intuition or with some vision of how capitalism was going to develop. In rereading the writings of those times, my purpose was not ...
... strict line of thinking or produced a model that drew conclusionsfrom preciselyformulated assumptions. Advocates of both strategies blended knowledge from economics with intuition or with some vision of how capitalism was going to develop. In rereading the writings of those times, my purpose was not ...
The Crisis of Capitalism: Keynes Versus Marx
... these changes. There is a large gap between the two. This approach will give us some sense of how durable the modest resurgence of Keynes’s economics today will prove to be. Keynes ended The General Theory of Employment, Interest, and Money with the famous words: ‘But soon or late, it is ideas, not ...
... these changes. There is a large gap between the two. This approach will give us some sense of how durable the modest resurgence of Keynes’s economics today will prove to be. Keynes ended The General Theory of Employment, Interest, and Money with the famous words: ‘But soon or late, it is ideas, not ...
D. LEVY - CEPREMAP
... example, the control of inflation). Nonetheless, neoliberalism is unquestionably a liberalism in the sense of free-market economics. This first feature is, however, far from defining all the facets of neoliberalism. In each country, the new social order imposed a new discipline on workers, notably ...
... example, the control of inflation). Nonetheless, neoliberalism is unquestionably a liberalism in the sense of free-market economics. This first feature is, however, far from defining all the facets of neoliberalism. In each country, the new social order imposed a new discipline on workers, notably ...
Economics: The Core Issues
... signal desired outputs (or resource allocations). I.e., the market decides the mix of output in an economy. ...
... signal desired outputs (or resource allocations). I.e., the market decides the mix of output in an economy. ...
Chapter 2 Economic Systems and Economic Tools
... What decision-making process is used to allocate resources and products? What types of incentives guide economic decision makers? ...
... What decision-making process is used to allocate resources and products? What types of incentives guide economic decision makers? ...
Understanding imperialism part one
... against the Soviet system that rejected incorporation into the capitalist world economy. The USSR promoted a type of geo-political imperialism that was based on the motivating aims of security and power: “So in Stalin’s view the uncertainties posed by the independence of these border states, and th ...
... against the Soviet system that rejected incorporation into the capitalist world economy. The USSR promoted a type of geo-political imperialism that was based on the motivating aims of security and power: “So in Stalin’s view the uncertainties posed by the independence of these border states, and th ...
the economics of the new phase of imperialism
... "accumulation through expansion". Marxian economics too recognizes that accumulation over certain stretches of time may take the predominant form of "accumulation through expansion"1. As distinct from this however one can visualize an alternative process, which I shall call "accumulation through enc ...
... "accumulation through expansion". Marxian economics too recognizes that accumulation over certain stretches of time may take the predominant form of "accumulation through expansion"1. As distinct from this however one can visualize an alternative process, which I shall call "accumulation through enc ...
1. The process of capital accumulation can be conceptually envisaged as... two distinct and alternative ways. I shall call the first...
... State activism in matters of employment, stands so much to gain from it (at least until a level of employment is reached where the workers get "out of hand"). There is however a powerful additional factor which also contributes to deflationism. Let us now turn to it. A capitalist economy cannot func ...
... State activism in matters of employment, stands so much to gain from it (at least until a level of employment is reached where the workers get "out of hand"). There is however a powerful additional factor which also contributes to deflationism. Let us now turn to it. A capitalist economy cannot func ...
The Business System: Government, Markets and International Trade
... occur when household prefer to save some of their income in liquid securities instead of spending it on goods and services. • When aggregate demand is less than aggregate supply the result is a contraction of supply. • Businesses realize they are not selling all their goods and services they will cu ...
... occur when household prefer to save some of their income in liquid securities instead of spending it on goods and services. • When aggregate demand is less than aggregate supply the result is a contraction of supply. • Businesses realize they are not selling all their goods and services they will cu ...
ppt - Typepad
... • “There are two sorts of wealth-getting... one is a part of household management, the other is retail trade: the former necessary and honorable, while that which consists in exchange is justly censured; for it is unnatural, and a mode by which men gain from one another…” • “A general account has no ...
... • “There are two sorts of wealth-getting... one is a part of household management, the other is retail trade: the former necessary and honorable, while that which consists in exchange is justly censured; for it is unnatural, and a mode by which men gain from one another…” • “A general account has no ...
Capitalism and Socialism: A Review of Kornai`s Dynamism
... emocrats for forty years) are not socialist countries but democratic capitalist market economies with sensitivity and responsibility toward social problems. Kornai’s operational definition of socialism is consistent with those of Karl Marx (1875), von Mises (1935), Lange (1936), von Hayek (1944), ...
... emocrats for forty years) are not socialist countries but democratic capitalist market economies with sensitivity and responsibility toward social problems. Kornai’s operational definition of socialism is consistent with those of Karl Marx (1875), von Mises (1935), Lange (1936), von Hayek (1944), ...
P 1
... • Irishman with Spanish name writing in French--little is known about him • A speculator in John Law’s enterprises • Charged with murder • Wrote “A Treatise on the Nature of General Commerce” – his only known work • The treatise outlined the first general equilibrium model of an economy (two sectors ...
... • Irishman with Spanish name writing in French--little is known about him • A speculator in John Law’s enterprises • Charged with murder • Wrote “A Treatise on the Nature of General Commerce” – his only known work • The treatise outlined the first general equilibrium model of an economy (two sectors ...
3.1. Changes in the Postwar Global Economy and the Roots of the
... capitalism. Neoliberalism is traditionally associated with the trilogy liberalization, privatization, and stabilization. Liberalization refers to freeing of markets and firms from state regulation. Privatization refers not only to selling off state-owned enterprises but also contracting out public s ...
... capitalism. Neoliberalism is traditionally associated with the trilogy liberalization, privatization, and stabilization. Liberalization refers to freeing of markets and firms from state regulation. Privatization refers not only to selling off state-owned enterprises but also contracting out public s ...
here - Kornai János
... the capitalist system (Kornai, 2011). The book is a counterpart to his classic The Socialist System (1992). 3 This book synthesizes theories, concepts, and observations that the author has developed for decades. Two pairs of concepts highlight the analytical framework for contrasting capitalism to s ...
... the capitalist system (Kornai, 2011). The book is a counterpart to his classic The Socialist System (1992). 3 This book synthesizes theories, concepts, and observations that the author has developed for decades. Two pairs of concepts highlight the analytical framework for contrasting capitalism to s ...
The causes of the Great Recession:
... In the mainstream, we have two great schools with sub-divisions. The first is the neoclassical (and by this we should distinguish from the 19th century classical economists of Smith, Ricardo, Malthus, JS Mill and, of course, Marx). The neoclassical school is what Marx called the vulgar economics. Th ...
... In the mainstream, we have two great schools with sub-divisions. The first is the neoclassical (and by this we should distinguish from the 19th century classical economists of Smith, Ricardo, Malthus, JS Mill and, of course, Marx). The neoclassical school is what Marx called the vulgar economics. Th ...
Crisis and `law of motion` in economics: a critique of positivist Marxism
... ‘economic laws’, placing discussion about responses to economic crisis on a rigorous foundation. These concepts were integral to the emancipatory political economy of Karl Marx. They have been lost, I will argue, to mainstream political economy and also to Marxism, which is, with great irony, cast ...
... ‘economic laws’, placing discussion about responses to economic crisis on a rigorous foundation. These concepts were integral to the emancipatory political economy of Karl Marx. They have been lost, I will argue, to mainstream political economy and also to Marxism, which is, with great irony, cast ...
So for some reason, you are going to be teaching
... Bethune [1992] limited his review of HOT texts to traditional textbooks, but a history of economics course is particularly suited to using a variety of readings. You can easily spice up your course with more entertaining material than a textbook. What can be called the scholarly trade book is a more ...
... Bethune [1992] limited his review of HOT texts to traditional textbooks, but a history of economics course is particularly suited to using a variety of readings. You can easily spice up your course with more entertaining material than a textbook. What can be called the scholarly trade book is a more ...
Post-Keynesian Institutionalism after the Great Recession
... (such as John Kenneth Galbraith and Robert Heilbroner) within its camp. Meanwhile, PostKeynesianism was gaining its identity as a tradition shaped by a small group of economists in the United States and the United Kingdom—including Joan Robinson, Sidney Weintraub, Paul Davidson, and Alfred S. Eichne ...
... (such as John Kenneth Galbraith and Robert Heilbroner) within its camp. Meanwhile, PostKeynesianism was gaining its identity as a tradition shaped by a small group of economists in the United States and the United Kingdom—including Joan Robinson, Sidney Weintraub, Paul Davidson, and Alfred S. Eichne ...
Institutions and Economic Growth: What Model of Capitalism for
... dirigist, centralised state (in the case of France) to less prominent smaller states (the Netherlands, Belgium, Denmark) or larger federal states as Germany, both in terms of objectives and policy instruments European states played a more proactive role in governing the economy than typically their ...
... dirigist, centralised state (in the case of France) to less prominent smaller states (the Netherlands, Belgium, Denmark) or larger federal states as Germany, both in terms of objectives and policy instruments European states played a more proactive role in governing the economy than typically their ...