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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 ...
Economists Claudio Borio and Piti Disyatat of the Bank for International Settlements have argued that the Feldstein–Horioka puzzle arises due to mainstream economic modeling approaches which equate saving in real terms with financing in money terms. Using a framework in which the saving–investment nexus is distinct from money financing ...
An economic system, or economic order, [1] is a system of production, resource allocation and distribution of goods and services within a society. It includes the combination of the various institutions , agencies, entities, decision-making processes, and patterns of consumption that comprise the economic structure of a given community.
Boolos provides the following clarifications: [1] a single god may be asked more than one question, questions are permitted to depend on the answers to earlier questions, and the nature of Random's response should be thought of as depending on the flip of a fair coin hidden in his brain: if the coin comes down heads, he speaks truly; if tails ...
The first edition of the book was published in 1960. Until the 10th edition, the author was Campbell R. McConnell, professor of economics at the University of Nebraska, Lincoln, and since the 11th edition, which was published in 1990, Stanley L. Brue, a professor of economics, has become a co-author. [1]
There are various factors affecting economic growth. The problems of economic growth have been discussed by numerous growth models, including the Harrod-Domar model, the neoclassical growth models of Solow and Swan, and the Cambridge growth models of Kaldor and Joan Robinson. This part of the economic problem is studied in the economies of ...
Man, Economy, and State: A treatise on economic principles is a 1962 book of Austrian School economics by Murray Rothbard (orig. abridged ed.). [a] It was originally intended as a textbook form of Human Action by Ludwig von Mises, but became its own treatise after he realized original work was needed to flesh out Mises' ideas.
Confessions of an Economic Hit Man is a semi-autobiographical book written by American essayist John Perkins, first published in 2004. [ 1 ] [ 2 ] [ 3 ] The book provides Perkins' account of his career with engineering consulting firm Chas. T. Main in Boston.