EconomicsEconomic ideas and trends play a crucial yet little-understood role in the development of the world in which we live and are therefore vital to understanding our society today. From mercantilists through Keynesians to modern economic thought, this handbook covers 50 of the greatest minds and 10 core theories. Including Hume, Smith, Marx, and von Mises, succinct biographies reach behind the personalities and reveal the outstanding contribution each has made to this internationally important and pervasive discipline. The essential concepts and themes have been expertly selected and the complex issues clearly explained within a social, political, and cultural context, allowing the rich history of economic thought to be told and the motivations behind its phenomenal global development to be understood. |
From inside the book
Results 1-3 of 16
Page 36
... wage would have no effect on the value of a commodity , as long as there was no change in the amount of labor time embodied in its production . A rise in real wages would have a negative effect on the level of profits since profit was ...
... wage would have no effect on the value of a commodity , as long as there was no change in the amount of labor time embodied in its production . A rise in real wages would have a negative effect on the level of profits since profit was ...
Page 67
... wage flexibility ) a common currency will be more efficient for a particular geographic region as it reduces transaction costs associated with multiple currencies . Mundell applied the idea to Europe , arguing that the benefits of a ...
... wage flexibility ) a common currency will be more efficient for a particular geographic region as it reduces transaction costs associated with multiple currencies . Mundell applied the idea to Europe , arguing that the benefits of a ...
Page 92
... wage subsidies to promote employment and higher wages for workers . The idea is that some workers can only earn a low wage , if based solely on productivity , so the firm can only pay them a wage that is so high . Many of these workers ...
... wage subsidies to promote employment and higher wages for workers . The idea is that some workers can only earn a low wage , if based solely on productivity , so the firm can only pay them a wage that is so high . Many of these workers ...
Contents
William Petty 22 Richard Cantillon | 24 |
GROWTH THEORY | 69 |
Abba Lerner 80 Nicholas Kaldor | 82 |
Copyright | |
3 other sections not shown
Other editions - View all
Common terms and phrases
accumulation Adam Smith aggregate demand agriculture anarchism argued Austrian Austrian School banking became behavior Born business cycle Cantillon capital capitalist chartal chartalist classical political economy commodity concept consumers consumption contributions currency debt deficit determined Died distribution economic activity economic analysis economic growth economic theory economists effect England Importance exchange factors firms fiscal framework full employment gender global government intervention Greenspan Hayek historical human Human Development Index ideas imperfect income individual industrial inequality inflation innovation institutions interest rates investment Jevons Kaldor Keynes Keynes's Keynesian Khaldun labor Leontief macroeconomics Malthus marginal utility Marx Mercantilists monetary policy money supply neoclassical economics Nobel Prize output and employment partial equilibrium perfect competition Physiocrats population growth production profit result Ricardo Say's Law School of Economics Schumpeter sector social costs society spending Sraffa Stagflation Stiglitz subsistence surplus technological trade Veblen wage Walras wealth welfare economics workers