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Description: Explores the "specific differentia of medical care as the object of normative economics", demonstrating that the consideration of uncertainty is key to understanding markets in health care. Importance: Generally considered a seminal work of enduring significance; key to the foundation of health economics as a field of study.
The Cambridge Journal of Economics is a peer-reviewed academic journal of economics.The journal was founded in 1977 by the Cambridge Political Economy Society with the aim of publishing articles that followed the economic traditions established by Karl Marx, J. M. Keynes, Michał Kalecki, Joan Robinson, and Nicholas Kaldor. [1]
Research Papers in Economics (RePEc) is a collaborative effort of hundreds of volunteers in many countries to enhance the dissemination of research in economics. The heart of the project is a decentralized database of working papers, preprints, journal articles, and software components. [1] The project started in 1997. [2]
The earlier term for the discipline was "political economy", but since the late 19th century, it has commonly been called "economics". [22] The term is ultimately derived from Ancient Greek οἰκονομία (oikonomia) which is a term for the "way (nomos) to run a household (oikos)", or in other words the know-how of an οἰκονομικός (oikonomikos), or "household or homestead manager".
The economist Harry Johnson wrote that the optimism imparted by Keynes's early life is a key to understanding his later thinking. [28] Keynes was always confident he could find a solution to whatever problem he turned his attention to and retained a lasting faith in the ability of government officials to do good. [29]
Conditions of exchange may be traditional, conventional (exchange of gifts) or rational (motivated by profit or need) Regulations may threaten the source of supply; Money may classified as: Coined money is called "free money" or "market money" when it is coined by the mint without limit of amount
In economics, economic equilibrium is a situation in which the economic forces of supply and demand are balanced, meaning that economic variables will no longer change. [ 1 ] Market equilibrium in this case is a condition where a market price is established through competition such that the amount of goods or services sought by buyers is equal ...
Institutional economics focuses on understanding the role of the evolutionary process and the role of institutions in shaping economic behavior.Its original focus lay in Thorstein Veblen's instinct-oriented dichotomy between technology on the one side and the "ceremonial" sphere of society on the other.