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Transformation problem: The transformation problem is the problem specific to Marxist economics, and not to economics in general, of finding a general rule by which to transform the values of commodities based on socially necessary labour time into the competitive prices of the marketplace. The essential difficulty is how to reconcile profit in ...
David Shapiro (born November 25, 1946) is an American economist at the Pennsylvania State University.He joined the Penn State faculty [1] in 1980. He is a leading academic in the field of Economic Demography, specializing in fertility transition in sub-Saharan Africa and in the study of children's schooling in Africa.
Complexity economics is the application of complexity science to the problems of economics. It relaxes several common assumptions in economics, including general equilibrium theory . While it does not reject the existence of an equilibrium, it features an non-equilibrium approach and sees such equilibria as a special case and as an emergent ...
The Market for 'Lemons': Quality Uncertainty and the Market Mechanism" [1] is a widely cited seminal paper in the field of economics which explores the concept of asymmetric information in markets. The paper was written in 1970 by George Akerlof and published in the Quarterly Journal of Economics. The paper's findings have since been applied to ...
Staying hydrated is one of the most important, if not the most important, things you can do for your overall health. A well-hydrated body can reap improvements in sleep, mood, cognition, digestion ...
Crew on board an oil tanker accused of sabotaging undersea power and communications cables in the Baltic Sea were poised to cut other cables and pipelines when Finnish authorities boarded the ...
[102] [103] Since the 1970s, several emerging countries have begun to close the economic gap with the United States. In most cases, this has been due to moving the manufacture of goods formerly made in the U.S. to countries where they could be made for sufficiently less money to cover the cost of shipping plus a higher profit.
In a now-viral video on TikTok, bride-to-be Kate O'Neill explains how her fiancé Michael O'Malley developed an "insane but practical" way to cut down their wedding guest list The groom-to-be ...