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5 days ago · In the 20th century, English economist Lionel Robbins defined economics as “the science which studies human behaviour as a relationship between (given) ends and scarce means which have alternative uses.”. In other words, Robbins said that economics is the science of economizing.
4 hours ago · A human with a set of virtues and vices, beyond the monster of interest focusing on Prudence Only, characterizes our economies, if not our economics. And so (the hypothesis goes) an economic history without meaning is incapable of understanding economic growth, business cycles, or many other of our mysteries.
1 day ago · Capitalism is characterized by private ownership of the factors of production. Decision making is decentralized and rests with the owners of the factors of production. Their decision making is coordinated by the market, which provides the necessary information. Material incentives are used to motivate participants.
4 days ago · Four prevailing economic theories aim to define and explain inflation: The quantity theory of money argues that inflation is determined by the money supply. An increase in the amount of money in circulation will directly cause a proportional increase in the price of goods and services over time.
6 days ago · The EHA provides a completely searchable copy of every issue of The Economist published from 1843 to 2015. Features include full-color images, multiple search indexes, and the facility to browse each issue - all combine to offer a unique primary source.. Financial Times historical archive 1888-2010. Delivers the complete searchable run of the ...
- Adele Barsh
- 2010
4 days ago · The boom and bust cycle describes alternating phases of economic growth and decline typically found in modern capitalist economies. First anticipated by Karl Marx in the 19th century, the boom ...
3 days ago · t. e. Entrepreneurship is the creation or extraction of economic value in ways that generally entail beyond the minimal amount of risk (assumed by a traditional business), and potentially involving values besides simply economic ones. An entrepreneur ( French: [ɑ̃tʁəpʁənœʁ]) is an individual who creates and/or invests in one or more ...
