Rethinking Capitalism from a Geographical Perspective
... established that the average profit rate and the real wage are inversely related in a multi-sectoral capitalist economy (Sraffa, 1960; Harcourt, 1972; Marx, ...
... established that the average profit rate and the real wage are inversely related in a multi-sectoral capitalist economy (Sraffa, 1960; Harcourt, 1972; Marx, ...
The causes of the Great Recession:
... In the mainstream, we have two great schools with subdivisions. 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 economic ...
... In the mainstream, we have two great schools with subdivisions. 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 economic ...
Aalborg Universitet Neoliberal Globalization Schmidt, Johannes Dragsbæk; Hersh, Jacques
... so-called Washington Consensus, the international institutions adhered to the position that the market mechanisms had proved their strength in spite of government interference all through the high growth period. Nevertheless, after having grudgingly acknowledged a certain positive role of the East A ...
... so-called Washington Consensus, the international institutions adhered to the position that the market mechanisms had proved their strength in spite of government interference all through the high growth period. Nevertheless, after having grudgingly acknowledged a certain positive role of the East A ...
principles of economics: an austrian
... free trade enhances freedom and enlarges the economic pie. Among the principles of social interaction, the second principle (sixth principle overall) is that markets are usually a good way to organize economic activity. Mankiw writes, “Yet, despite decentralized decision making and self-interested d ...
... free trade enhances freedom and enlarges the economic pie. Among the principles of social interaction, the second principle (sixth principle overall) is that markets are usually a good way to organize economic activity. Mankiw writes, “Yet, despite decentralized decision making and self-interested d ...
How Do We Compare Economies?
... this claim. However, the emergence of similar movements within other religions raises the possibility that the new traditional economy concept could be universal even while differing in significant details across religions. Cold War has given way to Holy War. Even if Fukuyama is right that the socia ...
... this claim. However, the emergence of similar movements within other religions raises the possibility that the new traditional economy concept could be universal even while differing in significant details across religions. Cold War has given way to Holy War. Even if Fukuyama is right that the socia ...
Author`s personal copy
... neo-classical economics operates under assumptions such as markets with high resource-allocation efficiency, value-maximizing individuals, self-regulating invisible hand and perfect information and competition (Lowenberg, 1990). However, the five market characteristics above have existed to varying de ...
... neo-classical economics operates under assumptions such as markets with high resource-allocation efficiency, value-maximizing individuals, self-regulating invisible hand and perfect information and competition (Lowenberg, 1990). However, the five market characteristics above have existed to varying de ...
CHAPTER 1
... to use their scarce resources to specialize in production and how they engage in exchange in order to consume a variety of different goods and services. The six basic concepts in the definition of economics are: 1. ECONOMIC AGENTS: Participants in the economy such as households, governments and busi ...
... to use their scarce resources to specialize in production and how they engage in exchange in order to consume a variety of different goods and services. The six basic concepts in the definition of economics are: 1. ECONOMIC AGENTS: Participants in the economy such as households, governments and busi ...
Scarcity - Birmingham Public Schools
... infinite, there is a limited supply. And where there are limits, there is scarcity. ...
... infinite, there is a limited supply. And where there are limits, there is scarcity. ...
Capitalism and Post-Keynesian Economics: Some Critical
... the economy; ie. the tendencies, the social and class configurations, the coagulation and the direction of capitalist interests etc. The best way to approach the question is to look at the founder of both theoretical and applied Post-Keynesiansim: Nicholas Kaldor. But which Kaldor? There is a pre-wa ...
... the economy; ie. the tendencies, the social and class configurations, the coagulation and the direction of capitalist interests etc. The best way to approach the question is to look at the founder of both theoretical and applied Post-Keynesiansim: Nicholas Kaldor. But which Kaldor? There is a pre-wa ...
adam smith and modern economics
... representation of actual markets vii. And instead of the public interest they have introduced the concept of Pareto optimality that avoids the troublesome aggregation of individual interests but at the cost that hardly any institutional or political reform can unequivocally be said to be in the inte ...
... representation of actual markets vii. And instead of the public interest they have introduced the concept of Pareto optimality that avoids the troublesome aggregation of individual interests but at the cost that hardly any institutional or political reform can unequivocally be said to be in the inte ...
PDF - FA Hayek Program
... Stephen Horwitz is a professor of economics at St. Lawrence University in New York. Peter J. Boettke is a professor of economics at George Mason University, Deputy Director of the James M. Buchanan Center for Political Economy, Senior Research Fellow at the Mercatus Center, and Faculty Director of t ...
... Stephen Horwitz is a professor of economics at St. Lawrence University in New York. Peter J. Boettke is a professor of economics at George Mason University, Deputy Director of the James M. Buchanan Center for Political Economy, Senior Research Fellow at the Mercatus Center, and Faculty Director of t ...
2012 AP Macroeconomics Summer Assignment: New Ideas From
... Smith’s Book on Ethical Behavior: Explain what Smith’s view of human nature was according to this book. Then, explain how success from that book led Smith to write another book, “in order to pass away the time.” The Invisible Hand: Who is “our self-interested neighbor, John?” How does this example h ...
... Smith’s Book on Ethical Behavior: Explain what Smith’s view of human nature was according to this book. Then, explain how success from that book led Smith to write another book, “in order to pass away the time.” The Invisible Hand: Who is “our self-interested neighbor, John?” How does this example h ...
Creorder - Panoeconomicus
... the binary opposition or dualities between economic efficiency and political power, or between state formation and genesis of the capital. Rendering obsolete the stubborn empirical quantifying of capital, this structure of argumentation rests on a crucial assumption: namely, capitalist economy is no ...
... the binary opposition or dualities between economic efficiency and political power, or between state formation and genesis of the capital. Rendering obsolete the stubborn empirical quantifying of capital, this structure of argumentation rests on a crucial assumption: namely, capitalist economy is no ...
REFLECTIONS ON SUPPLY-SIDE ECONOMICS Introduction Morgan 0. Reynolds
... have responded in a variety of ways. The most common is to assert that supply-side economics has not yet been tried, either because the cuts in tax rates lust began taking effect, or because the cuts are not radical enough. As Richard B. McKenzie wrote, “Supply-side economics has not worked and will ...
... have responded in a variety of ways. The most common is to assert that supply-side economics has not yet been tried, either because the cuts in tax rates lust began taking effect, or because the cuts are not radical enough. As Richard B. McKenzie wrote, “Supply-side economics has not worked and will ...
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... of the most influential people of the 20th Century. His research and policy advocacy have done more to promote human freedom and well being than perhaps any other single person in the past few centuries. “Friedman lives his life for a purpose, the utilitarian goal of producing the greatest good for ...
... of the most influential people of the 20th Century. His research and policy advocacy have done more to promote human freedom and well being than perhaps any other single person in the past few centuries. “Friedman lives his life for a purpose, the utilitarian goal of producing the greatest good for ...
Keynesianism and the Crisis
... societies demand (human need) almost always exceeded the levels of productive capacity. This meant that any crisis was, at base, a natural disaster with little to be done by way of policy. In capitalism on the other hand, it was perfectly possible for the productive capacity to outstrip the availabl ...
... societies demand (human need) almost always exceeded the levels of productive capacity. This meant that any crisis was, at base, a natural disaster with little to be done by way of policy. In capitalism on the other hand, it was perfectly possible for the productive capacity to outstrip the availabl ...
János Kornai`s Comparative Theory and Defense of Capitalism
... its problems could be entirely solved would be naive, but “much can be done to alleviate the detrimental effect of the surplus economy”, as for example: procurement and inventory policies, state regulation in view of fair competition, fight against corruption, even medium and long-term indicative pl ...
... its problems could be entirely solved would be naive, but “much can be done to alleviate the detrimental effect of the surplus economy”, as for example: procurement and inventory policies, state regulation in view of fair competition, fight against corruption, even medium and long-term indicative pl ...
Lesson 1 Study Guide
... makers have figured out how to improve mileage. More efficient gasoline engines and lighter weight materials for car bodies have been developed. Some of the improvement is also due to extensive wind tunnel testing to reduce wind drag. Other changes have also taken place because of the rising price o ...
... makers have figured out how to improve mileage. More efficient gasoline engines and lighter weight materials for car bodies have been developed. Some of the improvement is also due to extensive wind tunnel testing to reduce wind drag. Other changes have also taken place because of the rising price o ...
Aalborg Universitet Making Capitalism Work Schmidt, Johannes Dragsbæk; Hersh, Jacques
... On the European continent, where industrialization was taking place in the context of a process of national unity formation, such as in the cases of Germany, Italy and smaller Eastern European states, the working classes were deemed to be an important political factor for the project. The result was ...
... On the European continent, where industrialization was taking place in the context of a process of national unity formation, such as in the cases of Germany, Italy and smaller Eastern European states, the working classes were deemed to be an important political factor for the project. The result was ...
The Peripheralization of Southern European Capitalism within the
... 1. Introduction: The difficulties of Southern European capitalism Europe and in particular the EMU (European Monetary Union) has progressively seen the emergence of two peripheries: Former socialist ...
... 1. Introduction: The difficulties of Southern European capitalism Europe and in particular the EMU (European Monetary Union) has progressively seen the emergence of two peripheries: Former socialist ...
Post-Keynesian policies for modern capitalism G.C. Harcourt Jesus
... obvious.) The other approach has it that the forces acting on the wolves who stray make them get further and further ahead or fall further and further behind, at least for long stretches of time. (This also corresponds with Goodwin’s and the late Kalecki approach that the trend and cycle are indisso ...
... obvious.) The other approach has it that the forces acting on the wolves who stray make them get further and further ahead or fall further and further behind, at least for long stretches of time. (This also corresponds with Goodwin’s and the late Kalecki approach that the trend and cycle are indisso ...
Paper - Marketization in Europe
... A second, and associated problem of transformation has been the persistence of non-regulated or poorly regulated patterns of economic behaviour. The existence of large informal, black or grey economies appears inextricably linked to what has been named ‘crony capitalism’ and crime and the wider prob ...
... A second, and associated problem of transformation has been the persistence of non-regulated or poorly regulated patterns of economic behaviour. The existence of large informal, black or grey economies appears inextricably linked to what has been named ‘crony capitalism’ and crime and the wider prob ...
Presented - Cameron Economics
... Increase in “late stage” of production from 89.62% of capital stock in 1900 to 90.81% in 1958 is not significant enough to refute possibility that time-preference has increased in modern welfare state. ...
... Increase in “late stage” of production from 89.62% of capital stock in 1900 to 90.81% in 1958 is not significant enough to refute possibility that time-preference has increased in modern welfare state. ...
Development economics: from classical to critical
... saw development as a process of capital formation that was predominately the product of levels of investment and savings. Interest in two particular puzzles permeated the work of these early development economists: the impact of positive externalities from technology, savings and investment on devel ...
... saw development as a process of capital formation that was predominately the product of levels of investment and savings. Interest in two particular puzzles permeated the work of these early development economists: the impact of positive externalities from technology, savings and investment on devel ...
The Economic Way of Thinking - T. Zach BCC Business Courses
... Normative economics studies facts, asks if course of action is good Recommendations differ because values they are based on also differ More unknowns. ...
... Normative economics studies facts, asks if course of action is good Recommendations differ because values they are based on also differ More unknowns. ...