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. |
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Page 44
... perfect competition and partial equilibrium were empirically insignificant . The upshot was that either perfect competition or partial equilibrium had to be abandoned . In the first case , models of imperfect competition could be ...
... perfect competition and partial equilibrium were empirically insignificant . The upshot was that either perfect competition or partial equilibrium had to be abandoned . In the first case , models of imperfect competition could be ...
Page 76
Mathew Forstater. M Perfect monopoly Perfect competition Left : A perfect monopoly calls for just one supplier of a good , while perfect competition calls for an infinite number of suppliers producing homogenous goods ; in reality both ...
Mathew Forstater. M Perfect monopoly Perfect competition Left : A perfect monopoly calls for just one supplier of a good , while perfect competition calls for an infinite number of suppliers producing homogenous goods ; in reality both ...
Page 79
... competition includes the assumption that economic actors have perfect knowledge and foresight . It was Keynes ... perfect information was relaxed , and models of imperfect competition ( where the conditions for perfect competition where ...
... competition includes the assumption that economic actors have perfect knowledge and foresight . It was Keynes ... perfect information was relaxed , and models of imperfect competition ( where the conditions for perfect competition where ...
Contents
William Petty 22 Richard Cantillon | 24 |
GROWTH THEORY | 69 |
Abba Lerner 80 Nicholas Kaldor | 82 |
Copyright | |
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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