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Selo Soemardjan (May 23, 1915 in Yogyakarta [1] – June 11, 2003 in Jakarta), also spelled as Selo Sumarjan or Selo Sumardjan, was a well known senior academic in sociology at the University of Indonesia, and is known as the Pioneer of Indonesian Social Sciences. [1]
The General Theory of Employment, Interest and Money is a book by English economist John Maynard Keynes published in February 1936. It caused a profound shift in economic thought, [1] giving macroeconomics a central place in economic theory and contributing much of its terminology [2] – the "Keynesian Revolution".
These are models with two sectors, producers of final output and an R&D sector: the R&D sector develops ideas which grant them monopoly power. R&D firms are assumed to be able to make monopoly profits selling ideas to production firms, but the free entry condition means that these profits are dissipated on R&D spending. [citation needed]
Neoclassical economics is often criticized for having a normative bias despite sometimes claiming to be "value-free". [ 45 ] [ 46 ] Such critics argue an ideological side of neoclassical economics, generally to argue that students should be taught more than one economic theory and that economics departments should be more pluralistic .
Free trade, deregulation, tax cuts, privatization, labour market flexibility, and opposition to trade unions are also common positions. [ 4 ] Economic liberalism can be contrasted with protectionism because of its support for free trade and an open economy , and is considered opposed to planned economies and non-capitalist economic orders, such ...
The Harrod–Domar model is a Keynesian model of economic growth.It is used in development economics to explain an economy's growth rate in terms of the level of saving and of capital.
Laissez-faire – type of economic system in which transactions between private groups of people are free from any form of economic interventionism (such as subsidies or regulations). Mercantilism – nationalist economic policy that is designed to maximize the exports and minimize the imports of an economy.
Kuntowijoyo was born in Bantul, Yogyakarta, on 18 September 1943. His father was a dhalang and macapat reader, and his great-grandfather was a mushaf writer. When he attended elementary school at Ibtidaiyah Madrasah, he practiced declamation, storytelling, and reading the Koran.