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 63
... spending . An increase in government spending , if financed from taxation , would reduce private , disposable income leading to lower levels of consumption and savings and would cut down investment . If increased government spending was ...
... spending . An increase in government spending , if financed from taxation , would reduce private , disposable income leading to lower levels of consumption and savings and would cut down investment . If increased government spending was ...
Page 87
... spending . A federal deficit results in a private sector surplus because government spending injects income in the aggregate flow of expenditure , while taxation withdraws income from that flow . A deficit will therefore have a net ...
... spending . A federal deficit results in a private sector surplus because government spending injects income in the aggregate flow of expenditure , while taxation withdraws income from that flow . A deficit will therefore have a net ...
Page 88
... spending . Spending this year for goods and services that will be used this year ( for example , labor ) goes onto the current account . Spending this year on goods that will be used several years in the future ( for example , land and ...
... spending . Spending this year for goods and services that will be used this year ( for example , labor ) goes onto the current account . Spending this year on goods that will be used several years in the future ( for example , land and ...
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