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The term "Economy of Salvation" is first used by Origen of Alexandria, although references to the "Divine Economy", the "Economy of God" or simply the "Economy" are in earlier Church fathers. [9] Giorgio Agamben's The Kingdom and the Glory: For a Theological Genealogy of Economy and Government (2007; Eng. translation, 2011, p.
The divine economy, in Eastern Orthodoxy, not only refers to God's actions to bring about the world's salvation and redemption, but to all of God's dealings with, and interactions with, the world, including the Creation.
Divine intervention is an event that occurs when a deity (i.e. God or gods) becomes actively involved in changing some situation in human affairs. In contrast to other kinds of divine action, the expression "divine intervention" implies that there is some kind of identifiable situation or state of affairs that a god chooses to get involved with, to intervene in, in order to change, end, or ...
Consequently, divine coincidence disappears, the output gap does not equal the welfare-relevant output gap any longer, and central banks are left with their trade-off between inflation and output stabilization. Recently, it was shown that the divine coincidence does not necessarily hold in the non-linear form of the standard New-Keynesian model ...
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 ...
Social Darwinism is a body of pseudoscientific theories and societal practices that purport to apply biological concepts of natural selection and survival of the fittest to sociology, economics and politics.
Even Adam Smith, the canny Scot whose monumental book, "The Wealth of Nations" (1776), represents the beginning of modern economics or political economy-even he was so thrilled by the recognition of an order in the economic system that he proclaimed the mystical principle of the "invisible hand": that each individual in pursuing his own selfish ...
Other schools of economic thought, such as new classical macroeconomics, [citation needed] hold that countercyclical policies may be counterproductive or destabilizing, and therefore favor a laissez-faire fiscal policy as a better method for maintaining an overall robust economy. When the government adopts a countercyclical fiscal policy in ...