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Self-cultivation or personal cultivation (Chinese: 修身; pinyin: xiūshēn; Wade–Giles: hsiu-shen; lit. 'cultivate oneself') is the development of one's mind or capacities through one's own efforts. [1] Self-cultivation is the cultivation, integration, and coordination of mind and body.
Economic events are considered as processes of creation, motion and distribution of value that is firstly measured as exchange value.The factor interpretation of the exchange value, accepted by Econodynamics, is based on the Smith-Marx's labour theory of value, according to which efforts of workers are the most essential production factor.
Nudge is a concept in behavioral science, political theory and economics which proposes designs or changes in decision environments as ways to influence the behavior and decision making of groups or individuals—in other words, it's "a way to manipulate people's choices to lead them to make specific decisions".
Economic sectors evolve (in terms of employment levels), albeit through fluctuations, in one general direction (along so called S-curve): they emerge, expand, plateau, contract and exit—just like any self-organizing system or living organism. We are naturally interested in the percentage of total workforce employed in a given sector.
Human Action: A Treatise on Economics is a work by the Austrian economist and philosopher Ludwig von Mises.Widely considered Mises' magnum opus, [1] it presents the case for laissez-faire capitalism based on praxeology, his method to understand the structure of human decision-making.
Increasingly, human behavior is to be guided by observation, experiment, and reason (zweckrational). [3] Change in human character is expected to be part of the process; rationalization and bureaucratization promote efficiency, and materialism, both of which are subsumed under Weber's concept of zweckrational.
For many products across the economy the same would happen if one assumes markets are competitive, people choose on the basis of self-interest, and there is no cost for shifting production. [ 64 ] Similar to Walras, [ 77 ] Vilfredo Pareto tried to sketch the mathematical description of economics in analogy to mechanics, explicitly linking pure ...
The term Homo economicus, or economic man, is the portrayal of humans as agents who are consistently rational and narrowly self-interested, and who pursue their subjectively defined ends optimally. It is a wordplay on Homo sapiens , used in some economic theories and in pedagogy .