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Fictitious capital could also be defined as "tradeable paper claims to wealth", although tangible assets may themselves under certain conditions also be vastly inflated in price. [4] In terms of mainstream financial economics, fictitious capital is the net present value of expected future cash flows. [5] [6]
In economics, the Lucas paradox or the Lucas puzzle is the observation that capital does not flow from developed countries to developing countries despite the fact that developing countries have lower levels of capital per worker. [1] Classical economic theory predicts that capital should flow from rich countries to poor countries, due to the ...
In economics, capital goods or capital are "those durable produced goods that are in turn used as productive inputs for further production" of goods and services. [1] A typical example is the machinery used in a factory. At the macroeconomic level, "the nation's capital stock includes buildings, equipment, software, and inventories during a ...
Capital accumulation forms the basis of capitalism, where economic activity is structured around the accumulation of capital, defined as investment in order to realize a financial profit. [185] In this context, "capital" is defined as money or a financial asset invested for the purpose of making more money (whether in the form of profit, rent ...
This concept was already current in science fiction in 1942, with Trantor in Isaac Asimov's Foundation series. [3] When made public, Doxiadis' idea of ecumenopolis seemed "close to science fiction", but today is "surprisingly pertinent" according to geography researchers Pavle Stamenovic, Dunja Predic and Davor Eres, [ 1 ] especially as a ...
Economic geography is the subfield of human geography that studies economic activity and factors affecting it. It can also be considered a subfield or method in economics . [ 1 ]
He also offers what amounts to a unified field theory of inequality, one that integrates economic growth, the distribution of income between capital and labor, and the distribution of wealth and income among individuals into a single frame. ... Capital in the Twenty-First Century is an extremely important book on all fronts. Piketty has ...
However, the geography of finance is now gaining individual focus, especially as the link between the financial economy and the real economy is losing strength. [11] This is emphasized by the existence of economic bubbles and the fact that the value of financial transactions is often multiple times larger than the real economy.