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Pen gave his farewell lecture in 1986, but remained active as emeritus professor at the Faculty of Economics FEW. Pen is the creator of the so-called "Pen's parade", a graphical representation of income distribution. In this graph families or individuals are added along on the x-axis ranked from poor to rich, while the level of income is ...
Economic argument Soap-box talk about economics. Generally opposed to the religious argument called angel food E-P (Emergency Program) A split from the IWW in 1924, led by James Rowan of the Lumber Workers Industrial Union (LWIU). The E-Pers believed that the administration of the IWW was too strongly emphasising "Political Action" as opposed ...
Also called resource cost advantage. The ability of a party (whether an individual, firm, or country) to produce a greater quantity of a good, product, or service than competitors using the same amount of resources. absorption The total demand for all final marketed goods and services by all economic agents resident in an economy, regardless of the origin of the goods and services themselves ...
Pen's Parade or The Income Parade is a concept described in a 1971 book published by Dutch economist Jan Pen describing income distribution.The parade is defined as a succession of every person in the economy, with their height proportional to their income, and ordered from lowest to greatest.
The Penn effect is the economic finding that commodity prices are higher in countries with higher income.. This is often interpreted to mean that real income ratios between high and low income countries are misrepresented by gross domestic product (GDP) conversion at market exchange rates.
The addict is to be pitied and even respected, not the pusher." [87] The debates are chronicled in the 2015 documentary Best of Enemies. [86] This feud continued the next year in Esquire magazine, which commissioned essays from Buckley and Vidal on the incident. Buckley's essay "On Experiencing Gore Vidal" was published in the August 1969 issue.
James Stuart (1767) authored the first book in English with 'political economy' in its title, explaining it just as: . Economy in general [is] the art of providing for all the wants of a family, so the science of political economy seeks to secure a certain fund of subsistence for all the inhabitants, to obviate every circumstance which may render it precarious; to provide everything necessary ...
Cost-push inflation is a purported type of inflation caused by increases in the cost of important goods or services where no suitable alternative is available. As businesses face higher prices for underlying inputs, they are forced to increase prices of their outputs.