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The Orthodox Development view equates economic growth with 'development'. The gross national product of a country has continually been used by intergovernmental organisations such as the UN, to equate their economical stance to their level of 'development'.
The definitive split is typically placed somewhere in the 1870s, after which the torch of Ricardian economics was carried mainly by Marxian economics, while neoclassical economics became the new orthodoxy also in the English-speaking world. Henry George is sometimes known as the last classical economist or as a bridge.
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. [3] [verification needed]
Following World War I, the Economic and Financial Organization (EFO) of the League of Nations, influenced by the ideas of Montagu Norman and other leading policymakers and economists of the time, took an active role to promote the independence of central bank, a key component of the economic orthodoxy the EFO fostered at the Brussels Conference ...
The term "mainstream economics" came into use in the late 20th century. It appeared in 2001 edition of the textbook Economics by Samuelson and Nordhaus on the inside back cover in the "Family Tree of Economics", which depicts arrows into "Modern Mainstream Economics" from Keynes (1936) and neoclassical economics (1860–1910). [14]
Orthodoxy (from Greek: ὀρθοδοξία, orthodoxía, 'righteous/correct opinion') [1] [2] is adherence to correct or accepted creeds, especially in religion. [3] Orthodoxy within Christianity refers to acceptance of the doctrines defined by various creeds and ecumenical councils in Antiquity , but different Churches accept different creeds ...
The World Bank has regularly failed to live up to its own policies for protecting people harmed by projects it finances. The World Bank and its private-sector lending arm, the International Finance Corp., have financed governments and companies accused of human rights violations such as rape, murder and torture.
The World Bank is an international financial institution that provides loans and grants to the governments of low-and middle-income countries for the purposes of economic development. [6] The World Bank is the collective name for the International Bank for Reconstruction and Development (IBRD) and International Development Association (IDA ...