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Historians have employed political economy to explore the ways in the past that persons and groups with common economic interests have used politics to effect changes beneficial to their interests. [50] Political economy and law is a recent attempt within legal scholarship to engage explicitly with political economy literature.
Like gravity is to physics, the law of supply and demand is the bedrock principle of all economic theory. It determines where the price of a product or service intersects with the willingness of ...
Instead, constitutional economics takes into account the impacts of political economic decisions as opposed to limiting its analysis to economic relationships as functions of the dynamics of distribution of marketable goods and services. Constitutional economics was pioneered by the work of James M. Buchanan. He argued that "The political ...
The elasticity of demand refers to the sensitivity of a goods demand as compared to the fluctuation of other economic factors, such as price, income, etc. The law of demand explains that the relationship between Demand and Price is directly inverse. However, the demand for some goods are more receptive to a change in price than others.
Wagner's law, also known as the law of increasing [a] state activity, [2] is the observation that public expenditure increases as national income rises. [3] It is named after the German economist Adolph Wagner (1835–1917), who first observed the effect in his own country and then for other countries.
Specifically, the LPE Project has called for an end to the separation of law students studying "social justice" and those studying "economics". [6] The LPE Project can be also understood as a response to neoliberal and conservative intellectual infrastructure, in opposition to the groups like the Olin Foundation and the Federalist Society .
Constitutional economics is a research program in economics and constitutionalism that has been described as extending beyond the definition of "the economic analysis of constitutional law" to explain the choice "of alternative sets of legal-institutional-constitutional rules that constrain the choices and activities of economic and political ...
One implication of Bennett's law is that global demand for animal-based foods is predicted to increase more rapidly than human population growth. Alternative dietary proposals such as the EAT-Lancet Commission's " Planetary diet " and new alternative protein technologies have developed in response to this predicted growth in global demand for ...