Economics - Knowledge

5338:"This science indicates the cases in which commerce is truly productive, where whatever is gained by one is lost by another, and where it is profitable to all; it also teaches us to appreciate its several processes, but simply in their results, at which it stops. Besides this knowledge, the merchant must also understand the processes of his art. He must be acquainted with the commodities in which he deals, their qualities and defects, the countries from which they are derived, their markets, the means of their transportation, the values to be given for them in exchange, and the method of keeping accounts. The same remark is applicable to the agriculturist, to the manufacturer, and to the practical man of business; to acquire a thorough knowledge of the causes and consequences of each phenomenon, the study of political economy is essentially necessary to them all; and to become expert in his particular pursuit, each one must add thereto a knowledge of its processes." ( 1912:, he proposed a definition of economics as a study of human behaviour, subject to and constrained by scarcity, which forces people to choose, allocate scarce resources to competing ends, and economise (seeking the greatest welfare while avoiding the wasting of scarce resources). According to Robbins: "Economics is the science which studies human behavior as a relationship between ends and scarce means which have alternative uses". Robbins' definition eventually became widely accepted by mainstream economists, and found its way into current textbooks. Although far from unanimous, most mainstream economists would accept some version of Robbins' definition, even though many have raised serious objections to the scope and method of economics, emanating from that definition. 4667: 3308: 2787: 2923: 2798: 4317: 3796: 1449:

DNA analysis. People study living organisms in many different ways, so some people will do DNA analysis, others might do anatomy, and still others might build game theoretic models of animal behaviour. But they are all called biology because they all study living organisms. According to Ha Joon Chang, this view that the economy can and should be studied in only one way (for example by studying only rational choices), and going even one step further and basically redefining economics as a theory of everything, is very peculiar.

3781: 60: 3171: 15479: 5381:(2004), whose list of market failures is melded with failures of economic assumptions, which are (1) producers as price takers (i.e. presence of oligopoly or monopoly; but why is this not a product of the following?) (2) equal power of consumers (what labour lawyers call an imbalance of bargaining power) (3) complete markets (4) public goods (5) external effects (i.e. externalities?) (6) increasing returns to scale (i.e. practical monopoly) (7) perfect information (in 3973: 1789: 1513: 15443: 15468: 887: 1641: 4502:. When there is no output gap, the economy is producing at full capacity and there are no excess productive resources. If the government increases spending in this situation, the government uses resources that otherwise would have been used by the private sector, so there is no increase in overall output. Some economists think that crowding out is always an issue while others do not think it is a major issue when output is depressed. 4155: 5202: 875: 13351: 15455: 1762:(1848) parted company with the earlier classical economists on the inevitability of the distribution of income produced by the market system. Mill pointed to a distinct difference between the market's two roles: allocation of resources and distribution of income. The market might be efficient in allocating resources but not in distributing income, he wrote, making it necessary for society to intervene. 1473: 3420:

technical improvement. The "Law of Supply" states that, in general, a rise in price leads to an expansion in supply and a fall in price leads to a contraction in supply. Here as well, the determinants of supply, such as price of substitutes, cost of production, technology applied and various factors inputs of production are all taken to be constant for a specific time period of evaluation of supply.

1743:(1817) focused on the distribution of income among landowners, workers, and capitalists. Ricardo saw an inherent conflict between landowners on the one hand and labour and capital on the other. He posited that the growth of population and capital, pressing against a fixed supply of land, pushes up rents and holds down wages and profits. Ricardo was also the first to state and prove the principle of 1732:, he argued, tended to increase geometrically, outstripping the production of food, which increased arithmetically. The force of a rapidly growing population against a limited amount of land meant diminishing returns to labour. The result, he claimed, was chronically low wages, which prevented the standard of living for most of the population from rising above the subsistence level. Economist 1902:(1803). These three items were considered only in relation to the increase or diminution of wealth, and not in reference to their processes of execution. Say's definition has survived in part up to the present, modified by substituting the word "wealth" for "goods and services" meaning that wealth may include non-material objects as well. One hundred and thirty years later, 2052: 1382:." He affirmed that previous economists have usually centred their studies on the analysis of wealth: how wealth is created (production), distributed, and consumed; and how wealth can grow. But he said that economics can be used to study other things, such as war, that are outside its usual focus. This is because war has as the goal winning it (as a sought after 1713:

value, he intends only his own gain, and he is in this, as in many other cases, led by an invisible hand to promote an end which was no part of his intention. Nor is it always the worse for the society that it was no part of it. By pursuing his own interest he frequently promotes that of the society more effectually than when he really intends to promote it.

4509:. They argue that an increase in debt will have to be paid for with future tax increases, which will cause people to reduce their consumption and save money to pay for the future tax increase. Under Ricardian equivalence, any boost in demand from tax cuts will be offset by the increased saving intended to pay for future higher taxes. 1398:) but rather explore other alternatives. Economics cannot be defined as the science that studies wealth, war, crime, education, and any other field economic analysis can be applied to; but, as the science that studies a particular common aspect of each of those subjects (they all use scarce resources to attain a sought after end). 1827:. Marx wrote that they were mechanisms used by capital to exploit labour. The labour theory of value held that the value of an exchanged commodity was determined by the labour that went into its production, and the theory of surplus value demonstrated how workers were only paid a proportion of the value their work had created. 2294:, macroeconomic research has put greater emphasis on understanding and integrating the financial system into models of the general economy and shedding light on the ways in which problems in the financial sector can turn into major macroeconomic recessions. In this and other research branches, inspiration from 1535:, the Greek word from which the word economy derives, was used for issues regarding how to manage a household (which was understood to be the landowner, his family, and his slaves) rather than to refer to some normative societal system of distribution of resources, which is a much more recent phenomenon. 4343:

covers a variety of possible causes of unemployment including a mismatch between workers' skills and the skills required for open jobs. Large amounts of structural unemployment can occur when an economy is transitioning industries and workers find their previous set of skills are no longer in demand.

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Thus, the new classicals assume that prices and wages adjust automatically to attain full employment, whereas the new Keynesians see full employment as being automatically achieved only in the long run, and hence government and central-bank policies are needed because the "long run" may be very long.

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of supply and demand predicts that for given supply and demand curves, price and quantity will stabilise at the price that makes quantity supplied equal to quantity demanded. Similarly, demand-and-supply theory predicts a new price-quantity combination from a shift in demand (as to the figure), or in

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occurs where quantity supplied equals quantity demanded, the intersection of the supply and demand curves in the figure above. At a price below equilibrium, there is a shortage of quantity supplied compared to quantity demanded. This is posited to bid the price up. At a price above equilibrium, there

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That is, the higher the price at which the good can be sold, the more of it producers will supply, as in the figure. The higher price makes it profitable to increase production. Just as on the demand side, the position of the supply can shift, say from a change in the price of a productive input or a

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In an argument that includes "one of the most famous passages in all economics," Smith represents every individual as trying to employ any capital they might command for their own advantage, not that of the society, and for the sake of profit, which is necessary at some level for employing capital in

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occur where there are significant social costs or benefits from production or consumption that are not reflected in market prices. For example, air pollution may generate a negative externality, and education may generate a positive externality (less crime, etc.). Governments often tax and otherwise

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An example that combines features above is a country that specialises in the production of high-tech knowledge products, as developed countries do, and trades with developing nations for goods produced in factories where labour is relatively cheap and plentiful, resulting in different in opportunity

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resources, which have alternative uses, to achieve desired ends. Agents are assumed to act rationally, have multiple desirable ends in sight, limited resources to obtain these ends, a set of stable preferences, a definite overall guiding objective, and the capability of making a choice. There exists

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was an economic doctrine that flourished from the 16th to 18th century in a prolific pamphlet literature, whether of merchants or statesmen. It held that a nation's wealth depended on its accumulation of gold and silver. Nations without access to mines could obtain gold and silver from trade only by

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in which prices are typically stated. Money has general acceptability, relative consistency in value, divisibility, durability, portability, elasticity in supply, and longevity with mass public confidence. It includes currency held by the nonbank public and checkable deposits. It has been described

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emphasises the role that gender plays in economies, challenging analyses that render gender invisible or support gender-oppressive economic systems. The goal is to create economic research and policy analysis that is inclusive and gender-aware to encourage gender equality and improve the well-being

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of income and output. Physiocrats believed that only agricultural production generated a clear surplus over cost, so that agriculture was the basis of all wealth. Thus, they opposed the mercantilist policy of promoting manufacturing and trade at the expense of agriculture, including import tariffs.

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generalises from that special case to study the strategic behaviour of firms that do have significant control of price. It considers the structure of such markets and their interactions. Common market structures studied besides perfect competition include monopolistic competition, various forms of

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studies the interactions between human economies and the ecosystems in which they are embedded, but in contrast to environmental economics takes an oppositional position towards general mainstream economic principles. A major difference between the two subdisciplines is their assumptions about the

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in 1776, has been described as "the effective birth of economics as a separate discipline." The book identified land, labour, and capital as the three factors of production and the major contributors to a nation's wealth, as distinct from the physiocratic idea that only agriculture was productive.

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has for example argued that the definition of Robbins would make economics very peculiar because all other sciences define themselves in terms of the area of inquiry or object of inquiry rather than the methodology. In the biology department, they do not say that all biology should be studied with

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that analysis involves." The same source reviews a range of definitions included in principles of economics textbooks and concludes that the lack of agreement need not affect the subject-matter that the texts treat. Among economists more generally, it argues that a particular definition presented

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debate across the globe, as government tax and spending policies have significant effects on income distribution. In advanced economies, taxes and transfers decrease income inequality by one-third, with most of this being achieved via public social spending (such as pensions and family benefits.)

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Classical models of unemployment occurs when wages are too high for employers to be willing to hire more workers. Consistent with classical unemployment, frictional unemployment occurs when appropriate job vacancies exist for a worker, but the length of time needed to search for and find the job

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He generally, indeed, neither intends to promote the public interest, nor knows how much he is promoting it. By preferring the support of domestic to that of foreign industry, he intends only his own security; and by directing that industry in such a manner as its produce may be of the greatest

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Value theory was important in classical theory. Smith wrote that the "real price of every thing ... is the toil and trouble of acquiring it". Smith maintained that, with rent and profit, other costs besides wages also enter the price of a commodity. Other classical economists presented

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is concerned with determining how the efficiency of an economy can be improved. Recognizing the reality of scarcity and then figuring out how to organise society for the most efficient use of resources has been described as the "essence of economics", where the subject "makes its unique

5351:"And when we submit the definition in question to this test, it is seen to possess deficiencies which, so far from being marginal and subsidiary, amount to nothing less than a complete failure to exhibit either the scope or the significance of the most central generalisations of all." ( 3026:

can produce just two goods (say "guns" and "butter"). The PPF is a table or graph (as at the right) showing the different quantity combinations of the two goods producible with a given technology and total factor inputs, which limit feasible total output. Each point on the curve shows

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as to the ratio of its outputs to inputs in every type of output, it may still specialise in the output in which it has a comparative advantage and thereby gain from trading with a region that lacks any absolute advantage but has a comparative advantage in producing something else.

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in goods, labour and credit markets. The monetarist importance of monetary policy in stabilizing the economy and in particular controlling inflation was recognised as well as the traditional Keynesian insistence that fiscal policy could also play an influential role in affecting

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function through the interaction of workers and employers. Labour economics looks at the suppliers of labour services (workers), the demands of labour services (employers), and attempts to understand the resulting pattern of wages, employment, and income. In economics,

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or DSGE models, descending from real business cycles models, but extended with several new Keynesian and other features. These models proved very useful and influential in the design of modern monetary policy and are now standard workhorses in most central banks.

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as a distinct field. The book focused on determinants of national income in the short run when prices are relatively inflexible. Keynes attempted to explain in broad theoretical detail why high labour-market unemployment might not be self-correcting due to low

3868:. Analysis often revolves around causes of such price stickiness and their implications for reaching a hypothesised long-run equilibrium. Examples of such price stickiness in particular markets include wage rates in labour markets and posted prices in markets 1626:(1723–1790) was an early economic theorist. Smith was harshly critical of the mercantilists but described the physiocratic system "with all its imperfections" as "perhaps the purest approximation to the truth that has yet been published" on the subject. 4328:

The amount of unemployment in an economy is measured by the unemployment rate, the percentage of workers without jobs in the labour force. The labour force only includes workers actively looking for jobs. People who are retired, pursuing education, or

2155:. Monetarists contended that monetary policy and other monetary shocks, as represented by the growth in the money stock, was an important cause of economic fluctuations, and consequently that monetary policy was more important than fiscal policy for 5185:

Women's authorship share in prominent economic journals reduced from 1940 to the 1970s, but has subsequently risen, with different patterns of gendered coauthorship. Women remain globally under-represented in the profession (19% of authors in the

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Structural unemployment is similar to frictional unemployment since both reflect the problem of matching workers with job vacancies, but structural unemployment covers the time needed to acquire new skills not just the short term search process.

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theory of value on the demand side and a more comprehensive theory of costs on the supply side. In the 20th century, neoclassical theorists departed from an earlier idea that suggested measuring total utility for a society, opting instead for

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and the freedom to contract and transact to have a thriving and successful economy. It also emphasises that the state should play as small role as possible (if any role) in the regulation of economic activity between two transacting parties.

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is the relation between the price of a good and the quantity available for sale at that price. It may be represented as a table or graph relating price and quantity supplied. Producers, for example business firms, are hypothesised to be

2716:("signal strength") of the hypothesised relation(s) and to adjust for noise from other variables. By such means, a hypothesis may gain acceptance, although in a probabilistic, rather than certain, sense. Acceptance is dependent upon the 2239:. They adopted the principle of rational expectations and other monetarist or new classical ideas such as building upon models employing micro foundations and optimizing behaviour, but simultaneously emphasised the importance of various 1599:

selling goods abroad and restricting imports other than of gold and silver. The doctrine called for importing cheap raw materials to be used in manufacturing goods, which could be exported, and for state regulation to impose protective

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Law and economics, or economic analysis of law, is an approach to legal theory that applies methods of economics to law. It includes the use of economic concepts to explain the effects of legal rules, to assess which legal rules are

5364:"The conception we have adopted may be described as analytical. It does not attempt to pick out certain kinds of behaviour, but focuses attention on a particular aspect of behaviour, the form imposed by the influence of scarcity. ( 1342:

Economics is a study of man in the ordinary business of life. It enquires how he gets his income and how he uses it. Thus, it is on the one side, the study of wealth and on the other and more important side, a part of the study of

2551:. When creating theories, the objective is to find assumptions which are at least as simple in information requirements, more precise in predictions, and more fruitful in generating additional research than prior theories. While 4483:

Governments implement fiscal policy to influence macroeconomic conditions by adjusting spending and taxation policies to alter aggregate demand. When aggregate demand falls below the potential output of the economy, there is an

2768:. Another example is the assumption of narrowly selfish preferences versus a model that tests for selfish, altruistic, and cooperative preferences. These techniques have led some to argue that economics is a "genuine science". 1401:

Some subsequent comments criticised the definition as overly broad in failing to limit its subject matter to analysis of markets. From the 1960s, however, such comments abated as the economic theory of maximizing behaviour and

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The science which traces the laws of such of the phenomena of society as arise from the combined operations of mankind for the production of wealth, in so far as those phenomena are not modified by the pursuit of any other

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Immediately after World War II, Keynesian was the dominant economic view of the United States establishment and its allies, Marxian economics was the dominant economic view of the Soviet Union nomenklatura and its allies.

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are goods which are under-supplied in a typical market. The defining features are that people can consume public goods without having to pay for them and that more than one person can consume the good at the same time.

3416:, meaning that they attempt to produce and supply the amount of goods that will bring them the highest profit. Supply is typically represented as a function relating price and quantity, if other factors are unchanged. 7888: 3357:

is the relation of the quantity that all buyers would be prepared to purchase at each unit price of the good. Demand is often represented by a table or a graph showing price and quantity demanded (as in the figure).

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It has been observed that a high volume of trade occurs among regions even with access to a similar technology and mix of factor inputs, including high-income countries. This has led to investigation of economies of

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Physiocrats advocated replacing administratively costly tax collections with a single tax on income of land owners. In reaction against copious mercantilist trade regulations, the physiocrats advocated a policy of

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The boundaries of what constitutes economics are further blurred by the fact that economic issues are analysed not only by 'economists' but also by historians, geographers, ecologists, management scientists, and

1428:, used relentlessly and unflinchingly." One commentary characterises the remark as making economics an approach rather than a subject matter but with great specificity as to the "choice process and the type of 6191: 2162:

Monetarism rose to prominence in the 1970s and 1980s, when several major central banks followed a monetarist-inspired policy, but was later abandoned again because the results turned out to be unsatisfactory.

4745:(referring to the skills that workers possess, not necessarily their actual work), although there are also counter posing macro-economic system theories that think human capital is a contradiction in terms. 8275:, p. 223: "There remained division over whether economics was defined by a method or a subject matter but both sides in that debate could increasingly accept some version of the Robbins definition." 10932: 2159:. Friedman was also skeptical about the ability of central banks to conduct a sensible active monetary policy in practice, advocating instead using simple rules such as a steady rate of money growth. 3385:

states that, in general, price and quantity demanded in a given market are inversely related. That is, the higher the price of a product, the less of it people would be prepared to buy (other things

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Other schools or trends of thought referring to a particular style of economics practised at and disseminated from well-defined groups of academicians that have become known worldwide, include the

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represents the empirical relationship between unemployment and economic growth. The original version of Okun's law states that a 3% increase in output would lead to a 1% decrease in unemployment.

3811:" encompasses several problems which may undermine standard economic assumptions. Although economists categorise market failures differently, the following categories emerge in the main texts. 2854:

to set the price of a homogeneous product. In other words, every participant is a "price taker" as no participant influences the price of a product. In the real world, markets often experience

3478:, people begin to organise their production in firms when the costs of doing business becomes lower than doing it on the market. Firms combine labour and capital, and can achieve far greater 1261:

a branch of the science of a statesman or legislator a plentiful revenue or subsistence for the people ... to supply the state or commonwealth with a revenue for the publick services.

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For example, unemployed home builders can be hired to expand highways. Tax cuts allow consumers to increase their spending, which boosts aggregate demand. Both tax cuts and spending have

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The professionalisation of economics, reflected in the growth of graduate programmes on the subject, has been described as "the main change in economics since around 1900". Most major

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where some productive capacity is left unemployed. Governments increase spending and cut taxes to boost aggregate demand. Resources that have been idled can be used by the government.

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restrict the sale of goods that have negative externalities and subsidise or otherwise promote the purchase of goods that have positive externalities in an effort to correct the price

2881:(in which there are few buyers of a good). Firms under imperfect competition have the potential to be "price makers", which means that they can influence the prices of their products. 4410:, money facilitates trade. It is essentially a measure of value and more importantly, a store of value being a basis for credit creation. Its economic function can be contrasted with 3853:

caused by these externalities. Elementary demand-and-supply theory predicts equilibrium but not the speed of adjustment for changes of equilibrium due to a shift in demand or supply.

1234:), or "household or homestead manager". Derived terms such as "economy" can therefore often mean "frugal" or "thrifty". By extension then, "political economy" was the way to manage a 7374: 3262:

costs of production. More total output and utility thereby results from specializing in production and trading than if each country produced its own high-tech and low-tech products.

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Two groups, who later were called "mercantilists" and "physiocrats", more directly influenced the subsequent development of the subject. Both groups were associated with the rise of

12992: 12283: 2268:. It integrated the rational expectations and optimizing framework of the new classical theory with a new Keynesian role for nominal rigidities and other market imperfections like 7885:, Bk. IV: Of Systems of political Œconomy, ch. II, "Of Restraints upon the Importation from Foreign Countries of such Goods as can be Produced at Home", IV.2.3 para. 3–5 and 8–9. 3958:

for aggregating to social welfare, whether of a group, a community, or a society, and there is no "social welfare" apart from the "welfare" associated with its individual units.

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is postulated to account for quantities, rather than prices, adjusting in the short run to changes on the demand side or the supply side. This includes standard analysis of the

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method of analysis, it is assumed that activity in the market being analysed does not affect other markets. This method aggregates (the sum of all activity) in only one market.

4433:. The primary monetary tool is normally the adjustment of interest rates, either directly via administratively changing the central bank's own interest rates or indirectly via 3995:

Macroeconomics, another branch of economics, examines the economy as a whole to explain broad aggregates and their interactions "top down", that is, using a simplified form of

2648:(1947) exemplifies the method, particularly as to maximizing behavioural relations of agents reaching equilibrium. The book focused on examining the class of statements called 6748: 1684:, whether between town and country or across countries. His "theorem" that "the division of labor is limited by the extent of the market" has been described as the "core of a 2261:

After decades of often heated discussions between Keynesians, monetarists, new classical and new Keynesian economists, a synthesis emerged by the 2000s, often given the name

13596: 3954:, in terms of economic activities of the individuals that compose the theoretical society considered. Accordingly, individuals, with associated economic activities, are the 1692:" and a "fundamental principle of economic organization." To Smith has also been ascribed "the most important substantive proposition in all of economics" and foundation of 1938:

as joint determinants of both price and quantity in market equilibrium, influencing the allocation of output and income distribution. It rejected the classical economics'

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The earlier term for the discipline was "political economy", but since the late 19th century, it has commonly been called "economics". The term is ultimately derived from

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example is of a dodgy second-hand car market. Customers without knowledge of whether a car is a "lemon" depress its price below what a quality second-hand car would be.

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business decisions, including unit-cost minimisation and profit maximisation, given the firm's objectives and constraints imposed by technology and market conditions.

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hypothesis surviving tests. Use of commonly accepted methods need not produce a final conclusion or even a consensus on a particular question, given different tests,

13070: 11839: 2081:" and why even price flexibility and monetary policy might be unavailing. The term "revolutionary" has been applied to the book in its impact on economic analysis. 1906:

noticed that this definition no longer sufficed, because many economists were making theoretical and philosophical inroads in other areas of human activity. In his

4913:, as distinguished from what he viewed as the mechanistic foundation of neoclassical economics drawn from Newtonian physics. His work contributed significantly to 2694:; this type of testing is typically regarded as less rigorous than controlled experimentation, and the conclusions typically more tentative. However, the field of 8206: 7507: 4333:

by a lack of job prospects are excluded from the labour force. Unemployment can be generally broken down into several types that are related to different causes.

7897:, Bk. IV: Of Systems of political Œconomy, ch. II, "Of Restraints upon the Importation from Foreign Countries of such Goods as can be Produced at Home", para. 9. 5060: 3583:, discussed above, to model different types of firm behaviour, for example in a solipsistic industry (few sellers), but equally applicable to wage negotiations, 11503: 5138: 1915:

A body of theory later termed "neoclassical economics" formed from about 1870 to 1910. The term "economics" was popularised by such neoclassical economists as

9944:, ch. 1, p. 5 (quotation) and sect. C, "The Production-Possibility Frontier", pp. 9–15; ch. 2, "Efficiency" sect.; ch. 8, sect. D, "The Concept of Efficiency. 9328:

Frey, Bruno S.; Pommerehne, Werner W.; Schneider, Friedrich; Gilbert, Guy (December 1984). "Consensus and Dissension among Economists: An Empirical Inquiry".

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choosing the most preferred quantity of each good, given income, prices, tastes, etc. A term for this is "constrained utility maximisation" (with income and

4574:, democratic breakdown and civil conflict. Research suggests that greater inequality hinders economic growth and macroeconomic stability, and that land and 2606:

models focused on modelling the relationships between aggregate variables, but as the relationships appeared to change over time macroeconomists, including

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for the functioning of the economy, as had Keynes. Not least, they proposed various reasons that potentially explained the empirically observed features of

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to explore the ways in the past that persons and groups with common economic interests have used politics to effect changes beneficial to their interests.

4175: 2068: 9111: 6283: 8717: 7962: 4826: 12673:"When, where, and by how much do biophysical limits constrain the economic process? A survey of Georgescu-Roegen's contribution to ecological economics" 9060: 6230: 6032: 4422:

of exchange because of its ready acceptability. Then it is less costly for the seller to accept money in exchange, rather than what the buyer produces.

1420:, a contributor to the expansion of economics into new areas, described the approach he favoured as "combin assumptions of maximizing behaviour, stable 12038: 7286: 5070:

There are dozens of prizes awarded to economists each year for outstanding intellectual contributions to the field, the most prominent of which is the

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may result in economic inefficiency but also a possibility of improving efficiency through market, legal, and regulatory remedies, as discussed above.

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International trade studies determinants of goods-and-services flows across international boundaries. It also concerns the size and distribution of

6157: 4210:. Thus, a central conclusion of Keynesian economics is that, in some situations, no strong automatic mechanism moves output and employment towards 4425:

Monetary policy is the policy that central banks conduct to accomplish their broader objectives. Most central banks in developed countries follow

1771: 1390:(human life and other costs) are used to attain the goal. If the war is not winnable or if the expected costs outweigh the benefits, the deciding 9194: 5603: 2741:

because it allows direct tests of what were previously taken as axioms. In some cases these have found that the axioms are not entirely correct.

12851: 7852: 4622:, models public-sector behaviour analogously to microeconomics, involving interactions of self-interested voters, politicians, and bureaucrats. 3315:

model describes how prices vary as a result of a balance between product availability and demand. The graph depicts an increase in demand from D

7834: 7173: 5101:. Professional economists are expected to be familiar with these tools, while a minority specialise in econometrics and mathematical methods. 13047: 12589: 12464: 12400: 12345: 12265: 12213: 12164: 11636: 11557: 11445: 11372: 11239: 11170: 11118: 11087: 11058: 10909: 10880: 10851: 10716: 10633: 10584: 10525: 10449: 10339: 10283: 10240: 10087: 10035: 9920: 9864: 9667: 9621: 9530: 9447: 9398: 9312: 8657: 8486: 8431: 8339: 8136: 8092: 8008: 6784: 6674: 6382: 3057:. This is because increasing output of one good requires transferring inputs to it from production of the other good, decreasing the latter. 2630:

Expositions of economic reasoning often use two-dimensional graphs to illustrate theoretical relationships. At a higher level of generality,

12073: 1035:, their interactions, and the outcomes of interactions. Individual agents may include, for example, households, firms, buyers, and sellers. 7348: 7325: 4552: 4347:

While some types of unemployment may occur regardless of the condition of the economy, cyclical unemployment occurs when growth stagnates.

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arises here, if the seller has more relevant information than the buyer but no incentive to disclose it. Related problems in insurance are

2831:. These entities include private and public players with various classifications, typically operating under scarcity of tradable units and 1866: 1410:

of the subject to areas previously treated in other fields. There are other criticisms as well, such as in scarcity not accounting for the

11698: 9168:"DIW Berlin: A Matter of Opinion : How Ecological and Neoclassical Environmental Economists Think about Sustainability and Economics" 3732:. Applied subjects include market and legal remedies to spread or reduce risk, such as warranties, government-mandated partial insurance, 14785: 14741: 917: 849: 12107:

Neves, Pedro Cunha; Afonso, Óscar; Silva, Sandra Tavares (2016). "A Meta-Analytic Reassessment of the Effects of Inequality on Growth".

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industry. Given its different forms, there are various ways of representing uncertainty and modelling economic agents' responses to it.

3334:. The theory of supply and demand is an organizing principle for explaining how prices coordinate the amounts produced and consumed. In 3233:

to explain specialisation in similar but differentiated product lines, to the overall benefit of respective trading parties or regions.

6833: 2761: 1700:, resource owners (of labour, land, and capital) seek their most profitable uses, resulting in an equal rate of return for all uses in 13666: 8170: 4414:(non-monetary exchange). Given a diverse array of produced goods and specialised producers, barter may entail a hard-to-locate double 4187:

for goods might be insufficient during economic downturns, leading to unnecessarily high unemployment and losses of potential output.

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outward relative to the origin, as in the figure. All determinants are predominantly taken as constant factors of demand and supply.

8969: 3712:"). Moreover, attempting to reduce one problem, say adverse selection by mandating insurance, may add to another, say moral hazard. 3642:

may stimulate activity that in well-functioning markets smooths out risk and communicates information about risk, as in markets for

1898:

was defined and discussed at length as the study of production, distribution, and consumption of wealth by Jean-Baptiste Say in his

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reject the method-based definition of Robbins and continue to prefer definitions like those of Say, in terms of its subject matter.

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refers to the hypothesised relation of each individual consumer for ranking different commodity bundles as more or less preferred.

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considerations. Different individuals or nations may have different real opportunity costs of production, say from differences in

1591: 13679: 10116: 8560: 7908: 7530: 6851: 5329:. The latter includes wages and labour maintenance, money, and inputs from land, mines, and fisheries associated with production. 3068:

between the two goods. It measures what an additional unit of one good costs in units forgone of the other good, an example of a

1860: 4690:

is a macroeconomic field which examines the flow of capital across international borders, and the effects of these movements on

4495:

where the initial increase in demand from the policy percolates through the economy and generates additional economic activity.

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analysis to specific decisions in business firms or other management units. It draws heavily from quantitative methods such as

3128:

or economic organisation of a country that discourages full use of resources. Being on the curve might still not fully satisfy

2278: 1215: 13626: 13590: 13287: 13261: 13041: 13001: 12904: 12812: 12782: 12761: 12652: 12583: 12494: 12458: 12394: 12331: 12259: 12207: 12158: 11874: 11815: 11765: 11754:(1992). "Money (Money as a Social Institution and Public Good)". In Newman, Peter K.; Milgate, Murray; Eatwell, John (eds.). 11630: 11593: 11551: 11486: 11439: 11366: 11233: 11164: 11008: 10685: 10627: 10578: 10519: 10443: 10333: 10277: 10234: 10176: 10143: 10081: 10029: 9914: 9858: 9661: 9615: 9572: 9524: 9487: 9441: 9392: 9306: 9247: 9150: 9105: 9014: 8941: 8914: 8757: 8651: 8599: 8480: 8425: 8333: 8296: 8130: 8086: 8002: 7945: 7657: 7624: 7594: 7436: 7368: 7230: 7209: 7148: 6978: 6915: 6778: 6668: 6574: 6404: 6350: 6150: 5805: 5632: 5444: 5393: 3608: 1751:

cost of production, rather relying only on its own production. It has been termed a "fundamental analytical explanation" for

1350:(1932) developed implications of what has been termed "erhaps the most commonly accepted current definition of the subject": 11883: 7236: 6108: 5955: 3117:

could increase by moving in a northeast direction to a point on the curve. Examples cited of such inefficiency include high

1767: 11026:, ch. 11, "Uncertainty and Game Theory" and Glossary of Terms, "Economics of information", "Game theory", and "Regulation" 10660:, ch. 11, "Uncertainty and Game Theory" and Glossary of Terms, "Economics of information", "Game theory", and "Regulation" 7463: 6432: 5841: 3489:

markets studied in the theory of supply and demand, there are many producers, none of which significantly influence price.

13405: 13078: 1985:

builds on neoclassical economics but with many refinements that either supplement or generalise earlier analysis, such as

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Both problems may raise insurance costs and reduce efficiency by driving otherwise willing transactors from the market ("

3019: 2927: 2917: 1840: 13435: 13417: 11891: 7115: 13328: 13309: 13227: 13170:

Hoover, Kevin D.; Siegler, Mark V. (20 March 2008). "Sound and Fury: McCloskey and Significance Testing in Economics".

12971: 12845: 12300: 12091: 12056: 9034: 8193: 7495: 6260: 6102: 6071: 6026: 5768: 5547: 3031:

for the economy, which is the maximum feasible output of one good, given a feasible output quantity of the other good.

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Monetary Policy, Inflation and the Business Cycle: An Introduction to the New Keynesian Framework and Its Applications

4551:

being widely used for income differences among individuals. An example measure of inequality between countries is the

4165:

The economics of a depression were the spur for the creation of "macroeconomics" as a separate discipline. During the

3458:

People frequently do not trade directly on markets. Instead, on the supply side, they may work in and produce through

3269:

of outputs and productive inputs select an allocation of factor inputs by comparative advantage, so that (relatively)

7540: 7272: 6472: 6224: 5949: 5849: 5657: 5574: 5505: 4948:, as an approach to analysing the effects of economic phenomena in relation to the overarching social paradigm (i.e. 2247:, usually made to be endogenous features of the models, rather than simply assumed as in older Keynesian-style ones. 17: 11510: 3011:. Efficiency is improved if more output is generated without changing inputs. A widely accepted general standard is 15459: 13142: 12519: 11470: 10785: 9473: 6707: 4543:. Inequality exists at different extents between countries or states, groups of people, and individuals. There are 3323:

and the resulting increase in price and quantity required to reach a new equilibrium point on the supply curve (S).

2644: 1462: 1407: 11938: 8203:

Lionel Robbins's essay on the Nature and Significance of Economic Science, 75th anniversary conference proceedings

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and subaggregates like total consumption and investment spending and their components. It also studies effects of

15395: 13372: 8031: 4438: 3350: 2345: 2341: 910: 15483: 13454: 9227: 3620:. It has significant applications seemingly outside of economics in such diverse subjects as the formulation of 15352: 15006: 14847: 14223: 12677: 7409: 6140: 3880: 2291: 8713: 1772:

final stationary state made up of a constant stock of physical wealth (capital) and a constant population size

14959: 14815: 14193: 14183: 13876: 13528: 13501: 12700:

Daly, Herman E. (June 1995). "On Nicholas Georgescu-Roegen's Contributions to Economics: An Obituary essay".

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are not borne by producers but are by the environment, accident victims or others, then prices are distorted.

3015:, which is reached when no further change can make someone better off without making someone else worse off. 2302:

among the economic agents, e.g. differences in income, plays an increasing role in recent economic research.

1903: 1796: 248: 14404: 3662:

describes the allocation of financial resources. It also analyses the pricing of financial instruments, the

3289:

in the sale of one type of output for other, more highly valued goods. A measure of gains from trade is the

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in economics, which had profound implications for many economic discussions, among which were the so-called

1747:, according to which each country should specialise in producing and exporting goods in that it has a lower 510: 15300: 15210: 14343: 14316: 12134: 11310: 11279: 9330: 5276: 4256: 3955: 2790:

Economists study trade, production, and consumption decisions, including those that occur in a traditional

2325: 2178: 2172: 2125: 9579:... in economics, controlled experiments are rare and reproducible controlled experiments even more so ... 7689: 4863:

in explaining how political institutions, the political environment, and the economic system (capitalist,

4666: 3545:

or not. Without it, household behaviour would be unaffected by uncertain employment and income prospects,

1531:

and several economic historians have described Hesiod himself as the "first economist". However, the word

14852: 14770: 14751: 14328: 14173: 14139: 14124: 14103: 14098: 13645: 13632: 13548: 5271: 4268: 4099: 4031: 3591:, and any situation where individual agents are few enough to have perceptible effects on each other. In 3389:). As the price of a commodity falls, consumers move toward it from relatively more expensive goods (the 2896:

markets. This method studies both changes in markets and their interactions leading towards equilibrium.

2813: 2560: 2329: 2311: 1876: 1458: 1224:) which is a term for the "way (nomos) to run a household (oikos)", or in other words the know-how of an 859: 79: 69: 3401:). Other factors can change demand; for example an increase in income will shift the demand curve for a 2801: 15512: 14745: 14321: 14011: 14001: 12514: 8906: 6810: 4792: 4430: 4280: 3513: 3230: 3022:(PPF) is an expository figure for representing scarcity, cost, and efficiency. In the simplest case an 2958:

and thus a rate of output per period of time. Distinctions include such production alternatives as for

2869:(in which there are only two sellers of a good), oligopoly (in which there are few sellers of a good), 2556: 2428:

concentrates on macroeconomic rigidities and adjustment processes. It is generally associated with the

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In the private sector, professional economists are employed as consultants and in industry, including

2963: 15114: 14842: 13891: 13560: 13519: 8867: 8517: 5478: 4694:. Increased trade in goods, services and capital between countries is a major effect of contemporary 4544: 4111: 3898: 3482:(when the average cost per unit declines as more units are produced) than individual market trading. 2538: 2096:

which was a simple formalisation of some of Keynes' insights on the economy's short-run equilibrium.

1807:

Marxist (later, Marxian) economics descends from classical economics and it derives from the work of

263: 13536: 13184: 8531: 8111:(1987). "Marx, Karl Heinrich (1818–1883)". In Eatwell, John; Milgate, Murray; Newman, Peter (eds.). 7823: 3330:

have been described as the most directly observable attributes of goods produced and exchanged in a

1433:

may reflect the direction toward which the author believes economics is evolving, or should evolve.

15447: 15295: 15285: 15082: 14808: 14775: 14721: 14464: 14419: 14258: 14129: 14006: 12990:(2001). "Economics: Overview, The Profession of Economics". In Smelser, N.J.; Baltes, P.B. (eds.). 10825: 10742: 9966: 7165: 5281: 5221: 5216: 5147: 4796: 4645: 4499: 2975: 2892:

theory studies various markets and their behaviour. It aggregates (the sum of all activity) across

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Within macroeconomics there is, in general order of their historical appearance in the literature;

1966:

of individual demand, which isolates how prices (as costs) and income affect quantity demanded. In

1242: 1204: 1166: 1001: 832: 570: 525: 378: 147: 91: 14479: 13021: 12729:

Mayumi, Kozo (August 1995). "Nicholas Georgescu-Roegen (1906–1994): an admirable epistemologist".

12563: 12438: 12374: 12311: 12239: 12187: 12138: 11610: 11531: 11419: 11346: 11211: 11144: 11112: 11081: 11052: 10903: 10874: 10845: 10828: 10708: 10607: 10558: 10499: 10409: 10309: 10257: 10214: 10061: 10009: 9890: 9838: 9641: 9595: 9504: 9421: 9372: 9286: 9083: 8631: 8460: 8405: 8313: 8112: 8066: 7982: 6953: 6758: 6648: 6498: 6410: 5051:. Economists also work for various government departments and agencies, for example, the national 4038:. This has addressed a long-standing concern about inconsistent developments of the same subject. 3602:

In this, it generalises maximisation approaches developed to analyse market actors such as in the

3072:. Thus, if one more Gun costs 100 units of butter, the opportunity cost of one Gun is 100 Butter. 585: 15478: 15257: 15145: 15040: 14429: 14263: 14253: 14243: 14233: 13971: 13961: 13921: 13911: 13784: 13705: 6607: 5483: 5423: 5411: 5286: 4968: 4834: 4661: 4564: 4446: 4340: 4287: 4137: 4115: 4080:

of a country over a long period of time. The same factors are used to explain differences in the

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choose when interacting with others whose interests are at least partially adverse to their own.

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is a surplus of quantity supplied compared to quantity demanded. This pushes the price down. The

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Some market organisations may give rise to inefficiencies associated with uncertainty. Based on

2398:

have evolved over time, positioning themselves in contrast to mainstream theory. These include:

2084:

During the following decades, many economists followed Keynes' ideas and expanded on his works.

1958:, neoclassical economics represents incentives and costs as playing a pervasive role in shaping 1567:, as "coming nearer than any other group to being the 'founders' of scientific economics" as to 1293: 15367: 15087: 14915: 14599: 14444: 14304: 14247: 14203: 14166: 13916: 13856: 13831: 13801: 13774: 13481: 13179: 11840:"An International Perspective on Monetary Policy Implementation Systems | Bulletin – June 2022" 11683: 10405: 10365: 9564: 8526: 7649: 6624: 6514: 6279: 5163: 4922: 4729:

is a measure of the work done by human beings. It is conventionally contrasted with such other

4671: 4610:(who really pays a particular tax), cost–benefit analysis of government programmes, effects on 4555:, a composite index that takes inequality into account. Important concepts of equality include 4539:(the amount of wealth people own), and other measures such as consumption, land ownership, and 4536: 4528: 4238: 3775: 3363: 3236:

The general theory of specialisation applies to trade among individuals, farms, manufacturers,

3065: 2935: 2905: 2727: 2695: 2669: 2631: 2583: 2552: 2532: 2472: 2368: 2360: 1971: 1939: 1889: 1820: 1421: 1103: 997: 705: 550: 288: 228: 185: 132: 11782: 9479: 7360: 4578:

inequality reduce growth more than inequality of income. Inequality is at the centre stage of

1609:, a group of 18th-century French thinkers and writers, developed the idea of the economy as a 15290: 15280: 15242: 15215: 15177: 15150: 15060: 14969: 14888: 14878: 14731: 14414: 14389: 14374: 14348: 14287: 13966: 13906: 13886: 13881: 13504:-sponsored guide to 2,000+ Internet resources from "Data" to "Neat Stuff", updated quarterly. 13493: 10166: 9167: 7925: 7614: 7584: 7426: 6968: 6903: 6847: 5830: 5491: 5256: 5033: 4994:

in 1974 presented an economic theory of social interactions, whose applications included the

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published in 1961 suggested that well-defined property rights could overcome the problems of

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Since at least the 1960s, macroeconomics has been characterised by further integration as to

3928: 3869: 3827:, or the overlapping concepts of "practical" and "technical" monopoly, is an extreme case of 3763: 3713: 3694: 3651: 3606:

model and allows for incomplete information of actors. The field dates from the 1944 classic

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measures how well a system generates desired output with a given set of inputs and available

2982: 2855: 2745: 2619: 2500: 2295: 2269: 2194: 1998: 1744: 1721: 1664: 1650: 1174: 1138: 1130: 1107: 1080: 1048: 839: 520: 495: 480: 338: 278: 258: 253: 12802: 12772: 12751: 11755: 11583: 10675: 10133: 8931: 8286: 8162: 7935: 7191: 7138: 6564: 5622: 5432: 5383: 4429:, whereas the main objective for many central banks in development countries is to uphold a 3273:

inputs go to producing low-cost outputs. In the process, aggregate output may increase as a

3037:

is represented in the figure by people being willing but unable in the aggregate to consume

2712:

are common. Practitioners use such methods to estimate the size, economic significance, and

1704:(adjusted for apparent differences arising from such factors as training and unemployment). 15237: 15077: 15050: 15045: 14942: 14780: 14484: 14228: 14198: 14151: 14114: 14040: 13991: 13956: 13896: 13861: 13796: 13779: 13663: 13217: 12831: 12709: 11910: 11723: 11140: 9753: 9742:

Sigmund, Karl; Fehr, Ernst; Nowak, Martin A. (January 2002). "The Economics of Fair Play".

9706: 8456: 6838: 5291: 5266: 4973: 4918: 4779:. Approaches in development economics frequently incorporate social and political factors. 4764: 4760: 4619: 4415: 4396: 4091:

countries, in particular why some countries grow faster than others, and whether countries

4046: 3771: 3741: 3675: 3633: 3629: 3554: 3497: 3453: 3054: 2939: 2484: 2439: 2391: 2333: 2156: 1982: 1701: 1587: 1552: 1425: 1186: 1111: 590: 412: 363: 328: 268: 233: 137: 127: 74: 5981: 3342:, which includes the condition of no buyers or sellers large enough to have price-setting 3209:

in production of goods that make more intensive use of the relatively more abundant, thus

2922: 8: 15417: 15411: 15337: 15252: 15197: 15072: 14937: 14883: 14710: 14519: 14338: 14238: 14218: 14178: 14134: 14119: 14075: 14016: 13941: 13931: 13901: 13824: 13213: 12870:(1992). "Melding Sociology and Economics: James Coleman's Foundations of Social Theory". 12611: 11308:(May 1992). "Business Confidence and Depression Prevention: A Mesoeconomic Perspective". 9744: 8630:(1987). "Keynesian Revolution". In Eatwell, John; Milgate, Murray; Newman, Peter (eds.). 6904:"On the Definition of Political Economy; and on the Method of Investigation Proper to It" 6597: 6331: 6250: 6164: 5326: 5261: 5113: 5037: 4842: 4738: 4630: 4615: 4611: 4560: 4518: 4474: 4426: 4242: 4180: 4170: 3996: 3940: 3932: 3873: 3788: 3655: 3568: 3533: 3509: 3505: 3486: 3390: 3339: 3251: 3237: 3198: 3004: 2990: 2913: 2889: 2885: 2847: 2840: 2786: 2709: 2699: 2691: 2564: 2395: 2364: 2356: 2177:

A more fundamental challenge to the prevailing Keynesian paradigm came in the 1970s from

2063: 2055: 2046: 1927:". This corresponded to the influence on the subject of mathematical methods used in the 1920: 1900:

Treatise on Political Economy or, The Production, Distribution, and Consumption of Wealth

1725: 1677: 1635: 1297: 1150: 1126: 1115: 1095: 1056: 816: 625: 447: 388: 313: 303: 273: 200: 108: 14379: 12713: 10474: 9757: 9710: 6947: 6628: 6601: 5881: 5439:(4th International Student ed.). W.W. Norton & Company. 2015. pp. 81–100. 4618:

of different kinds of spending and taxes, and fiscal politics. The latter, an aspect of

1572: 1556: 1486:

Please expand the section to include this information. Further details may exist on the

485: 15507: 15362: 14927: 14765: 14736: 14694: 14499: 14208: 14188: 14156: 14070: 14065: 14045: 13996: 13936: 13926: 13871: 13866: 13698: 13472: 13275: 13197: 13116: 12935: 12927: 12879: 12623: 12544: 12536: 12337: 12019: 12011: 11474: 11327: 10963: 10955: 10777: 10769: 10668: 10554: 10387: 10383: 9975: 9807: 9730: 9557: 9552: 9347: 9199: 8830: 8552: 8386: 8255: 8247: 7812: 7804: 7754: 7746: 7642: 7082: 7050: 6878: 6726: 6644: 6298: 6183: 5905: 5415: 5403: 5301: 5231: 4933: 4810: 4713: 4626: 4570:

Research has linked economic inequality to political and social instability, including

4556: 4458: 4407: 4395:, like language, useful to one largely because it is useful to others. In the words of 4366: 4330: 4316: 4295: 4290:

approach retains the rational expectations assumption, however it assumes a variety of

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Questions regarding distribution of resources are found throughout the writings of the

1429: 1289: 1257:

as "an inquiry into the nature and causes of the wealth of nations", in particular as:

1158: 1122: 1091: 1032: 1009: 844: 800: 605: 442: 437: 417: 368: 308: 298: 243: 238: 210: 205: 175: 43: 13676: 12691: 12672: 10104: 9765: 8958: 8509: 7861:, p. 30, ch. 2, "Markets and Government in a Modern Economy", The Invisible Hand. 3512:

in the absence of certainty and perfect knowledge. A unifying theme is the attempt to

15332: 15327: 15315: 15310: 15182: 15172: 15092: 15035: 14979: 14629: 14604: 14514: 14394: 14282: 14085: 14021: 13986: 13976: 13846: 13622: 13586: 13324: 13305: 13283: 13271: 13257: 13233: 13223: 13201: 13120: 13037: 12997: 12987: 12967: 12841: 12808: 12778: 12757: 12742: 12721: 12648: 12579: 12548: 12490: 12454: 12434: 12390: 12341: 12327: 12296: 12292: 12255: 12203: 12154: 12087: 12052: 12023: 11870: 11811: 11804:

Department, International Monetary Fund Monetary and Capital Markets (26 July 2023).

11761: 11626: 11589: 11547: 11482: 11435: 11362: 11319: 11229: 11160: 11004: 11000: 10781: 10681: 10623: 10574: 10515: 10439: 10329: 10273: 10230: 10172: 10139: 10112: 10077: 10025: 9910: 9854: 9769: 9722: 9657: 9611: 9568: 9520: 9483: 9437: 9388: 9339: 9302: 9243: 9239: 9146: 9142: 9101: 9010: 9006: 8937: 8910: 8822: 8647: 8595: 8544: 8476: 8421: 8329: 8292: 8259: 8242: 8225: 8126: 8082: 7998: 7941: 7787:

Stigler, George J. (December 1976). "The Successes and Failures of Professor Smith".

7719: 7653: 7620: 7590: 7536: 7432: 7405: 7364: 7278: 7268: 7226: 7205: 7144: 7062: 7054: 7045: 7028: 6974: 6911: 6806: 6774: 6664: 6570: 6478: 6468: 6400: 6346: 6256: 6220: 6210: 6146: 6098: 6088: 6067: 6057: 6022: 5945: 5845: 5811: 5801: 5774: 5764: 5741: 5663: 5653: 5628: 5580: 5570: 5543: 5440: 5389: 5236: 5109: 4860: 4856: 4800: 4788: 4768: 4532: 4524: 4492: 4392: 4298:", which means they do not adjust instantaneously to changes in economic conditions. 4276: 4119: 4103: 4004: 3980: 3914: 3902: 3701:, such that those at most risk are most likely to insure (say reckless drivers), and 3698: 3686: 3663: 3617: 3603: 3596: 3428: 3371: 3312: 3302: 3140: 3133: 3012: 2998: 2591: 2575: 2548: 2476: 2460: 2236: 2097: 1935: 1924: 1845: 1793: 1783: 1548: 1437: 1265: 1254: 1162: 1099: 1016: 735: 710: 620: 500: 457: 393: 358: 348: 180: 142: 98: 14554: 12939: 9958: 7816: 7758: 6533: 6426:

Towards a Green Economy: Pathways to Sustainable Development and Poverty Eradication

6415:(Note the page is broken in some browsers but is still readable through the source.) 6356: 6216:

The Worldly Philosophers: The Lives, Times, and Ideas of the Great Economic Thinkers

5909: 5737: 4937: 4602:

Public economics is the field of economics that deals with economic activities of a

3625: 2051: 1770:'. Classical economics focused on the tendency of any market economy to settle in a 660: 15347: 15192: 15167: 14974: 14964: 14954: 14679: 14624: 14609: 14594: 14579: 14509: 14489: 14469: 14424: 14031: 13981: 13951: 13946: 13836: 13762: 13189: 13108: 13029: 12919: 12738: 12717: 12686: 12571: 12528: 12446: 12382: 12319: 12288: 12247: 12195: 12146: 12120: 12116: 12079: 12044: 12003: 11918: 11618: 11539: 11427: 11354: 11219: 11152: 11109: 10996: 10967: 10947: 10761: 10664: 10615: 10566: 10507: 10429: 10421: 10379: 10321: 10265: 10222: 10069: 10017: 9902: 9846: 9799: 9761: 9734: 9714: 9697: 9649: 9603: 9512: 9429: 9380: 9294: 9235: 9138: 9093: 9002: 8896: 8814: 8637: 8556: 8536: 8468: 8413: 8378: 8321: 8237: 8118: 8074: 7990: 7796: 7738: 7356: 7197: 7074: 7040: 6899: 6870: 6766: 6716: 6656: 6392: 6345:. Cambridge, Massachusetts: American Academy of Arts and Sciences. pp. 51–85. 5993: 5897: 5889: 5733: 5704: 5694: 5407: 5098: 5064: 5025: 4995: 4985: 4977: 4902: 4886: 4830: 4822: 4814: 4734: 4707: 4679: 4597: 4548: 4454: 4419: 4370: 4234: 4184: 4166: 4145: 4141: 4023: 3857: 3824: 3729: 3721: 3671: 3667: 3613: 3584: 3546: 3394: 3307: 3282: 3278: 3255: 3226: 3179: 3165: 3028: 2994: 2947: 2909: 2820: 2687: 2611: 2587: 2419: 2274: 2244: 2182: 2113: 2078: 1943: 1759: 1752: 1729: 1681: 1305: 1182: 1154: 1134: 1064: 1060: 936: 785: 730: 715: 700: 685: 615: 595: 575: 530: 403: 353: 323: 318: 14559: 13017: 12943: 7307:

Cameron, Gregory. (2008). Oikos and Economy: The Greek Legacy in Economic Thought.

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Some specialised fields of economics deal in market failure more than others. The

1245:; some reflect evolving views of the subject or different views among economists. 665: 15357: 15124: 15119: 14932: 14790: 14684: 14649: 14614: 14549: 14474: 14459: 14353: 14309: 14146: 14080: 14055: 14050: 14026: 13757: 13742: 13683: 13670: 13649: 13564: 13552: 13540: 13523: 13497: 13485: 13458: 13439: 13421: 13409: 12961: 12867: 12835: 12642: 12484: 11945: 11727: 11527: 11207: 10550: 10135:

Specialization and Economic Organization: A New Classical Microeconomic Framework

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Fehr, Ernst; Fischbacher, Urs (23 October 2003). "The Nature of Human Altruism".

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Specialisation is considered key to economic efficiency based on theoretical and

3136:) if it does not produce a mix of goods that consumers prefer over other points. 2749: 2738: 2555:

economic theory constitutes both the dominant or orthodox theoretical as well as

2452: 2448: 2415: 2410: 2402: 2317: 2277:. Methodologically, the synthesis led to a new class of applied models, known as 2190: 2152: 2093: 2034: 2010: 2006: 1963: 1959: 1948: 1928: 1916: 1850: 1403: 1355: 1327: 1317: 1246: 1190: 1142: 1076: 1072: 879: 790: 755: 720: 655: 580: 565: 452: 427: 422: 398: 170: 165: 13386: 7455: 5006:

authored a book in 2001 that analysed market behaviour in a social environment.

4041:

Macroeconomic analysis also considers factors affecting the long-term level and

3705:, such that insurance results in riskier behaviour (say more reckless driving). 3542: 15472: 15320: 15232: 15227: 14984: 14905: 14900: 14831: 14704: 14689: 14654: 14639: 14619: 14589: 14409: 14060: 13769: 13737: 13686:

UK Economics Network's database of text, slides, glossaries and other resources

13462: 13402: 13209: 13033: 12575: 12480: 12450: 12386: 12323: 12251: 12199: 12150: 11622: 11543: 11431: 11415: 11358: 11224: 11156: 10619: 10570: 10511: 10425: 10325: 10269: 10226: 10073: 10021: 9906: 9850: 9653: 9607: 9516: 9469: 9433: 9384: 9298: 9097: 8642: 8540: 8472: 8417: 8325: 8122: 8078: 7994: 7978: 7685: 6829: 6770: 6660: 6529: 6396: 5885: 5296: 5241: 5159: 5129: 5086: 4981: 4910: 4806: 4652:

by examining the economic activities of the individuals that comprise society.

4649: 4637: 4230: 4207: 4159: 4131: 3988: 3967: 3865: 3861: 3808: 3753: 3737: 3682: 3647: 3550: 3335: 3331: 3274: 3250:

with different work groups specializing, or correspondingly different types of

3190: 3122: 3085: 2955: 2777: 2765: 2757: 2717: 2639: 2571: 2528: 2524: 2298:

has started playing a more important role in mainstream economic theory. Also,

2240: 2232: 2224: 2198: 2186: 2117: 2073: 1994: 1967: 1955: 1871: 1855: 1576: 1560: 1487: 1411: 1347: 1285: 1036: 1024: 993: 810: 795: 760: 745: 725: 695: 515: 432: 122: 118: 14439: 13193: 13112: 12015: 10434: 10168:

A Concise Economic History of the World: From Paleolithic Times to the Present

7559: 7318:"Oikos Meaning in Bible – New Testament Greek Lexicon – New American Standard" 7201: 5815: 5778: 2993:(durable produced goods used in production, such as an existing factory), and 1923:

as a concise synonym for "economic science" and a substitute for the earlier "

545: 15501: 15423: 15379: 15342: 15272: 15247: 15157: 15055: 15001: 14996: 14669: 14659: 14634: 14574: 14569: 14564: 14544: 14534: 14504: 14494: 14399: 14299: 14272: 14036: 13444: 13432: 13414: 13337: 13237: 13093: 12753:

Bioeconomics and Sustainability: Essays in Honor of Nicholas Georgescu-Roegen

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MacCulloch, Robert (2005). "Income Inequality and the Taste for Revolution".

11861: 11323: 10704: 10162: 9834: 9343: 8826: 8627: 8108: 7107: 5901: 5427: 5419: 5378: 5322: 5151: 5133: 5125: 4898: 4894: 4872: 4850: 4818: 4742: 4695: 4691: 4607: 4603: 4575: 4540: 4470: 4399:, a well-known 19th-century economist, "Money is what money does" ("Money is 4348: 4203: 4191: 4016: 3845: 3795: 3733: 3639: 3558: 3541:

in economics is an unknown prospect of gain or loss, whether quantifiable as

3501: 3398: 3382: 3194: 3170: 3144: 2828: 2683: 2607: 2603: 2492: 2433: 2037:(choice) is made by one or more players to attain the best possible outcome. 1740: 1616: 1610: 1445: 1335: 1269: 1210: 1170: 775: 765: 740: 680: 675: 670: 650: 640: 610: 600: 505: 408: 9803: 9030: 7401: 7282: 6482: 5667: 5584: 5406:(2015) classifies market failures as from failure of competition (including 5116:(1850–1944), the first women lecturer at a British economics faculty, wrote 3716:, which studies such problems, has relevance in subjects such as insurance, 1708:

domestic industry, and positively related to the value of produce. In this:

1358:

as a relationship between ends and scarce means which have alternative uses.

59: 15222: 15162: 14910: 14868: 14699: 14644: 14539: 14529: 14524: 14449: 14294: 13819: 13747: 11863:

MC Compendium Monetary policy frameworks and central bank market operations

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Strange, William C. (2008). Durlauf, Steven N.; Blume, Lawrence E. (eds.).

9954: 9773: 9726: 8548: 8510:"Agent-Based Computational Economics: Growing Economies from the Bottom Up" 8369:(April 1937). "Mr. Keynes and the "Classics": A Suggested Interpretation". 8226:"Defining Economics: The Long Road to Acceptance of the Robbins Definition" 7029:"Defining Economics: The Long Road to Acceptance of the Robbins Definition" 5893: 5745: 5535: 5179: 5175: 5155: 5056: 5029: 5021: 4963: 4945: 4929: 4868: 4846: 4383: 4321: 4311: 4199: 4149: 4050: 3838: 3702: 3475: 3467: 3343: 3118: 3092:

of the increased output is anticipated to be worth the cost to the agents.

2971: 2851: 2797: 2753: 2679: 2665: 2488: 2406: 2228: 2089: 2025: 1986: 1831: 1733: 1595: 1564: 1517: 1441: 1039:

analyses economies as systems where production, distribution, consumption,

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Groenewegen, Peter (2008). Durlauf, Steven N.; Blume, Lawrence E. (eds.).

10060:

Groenewegen, Peter (2008). Durlauf, Steven N.; Blume, Lawrence E. (eds.).

5513: 4867:, mixed) influence each other. It studies questions such as how monopoly, 2151:

Monetarism appeared in the 1950s and 1960s, its intellectual leader being

1603:

on foreign manufactured goods and prohibit manufacturing in the colonies.

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The Basic Facts of Economics: A Common-Sense Primer for Advanced Students

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The Origins of Ecological Economics: The Bioeconomics of Georgescu-Roegen

12072:

Cederman, Lars-Erik; Gleditsch, Kristian Skrede; Buhaug, Halvard (2013).

11751: 8195:

Defining Economics: the Long Road to Acceptance of the Robbins Definition

8062: 7644:

The Making of Modern Economics: The Lives and Ideas of the Great Thinkers

7262: 6721: 6702: 6462: 6246: 5935: 5709: 5564: 5167: 5112:(1802–1876) was a widely-read populariser of classical economic thought. 5094: 5081:

Contemporary economics uses mathematics. Economists draw on the tools of

5075: 4991: 4717: 4712:

Labour economics seeks to understand the functioning and dynamics of the

3564: 3538: 3529: 3463: 3402: 3202: 3175: 2873:(in which there are many sellers producing highly differentiated goods), 2791: 2635: 2579: 2101: 1990: 1814: 1606: 1580: 1540: 1484:

about information and behavioural economics, contemporary microeconomics.

1417: 1044: 780: 770: 560: 195: 13529:

Organization For Co-operation and Economic Development (OECD) Statistics

11923: 9718: 8834: 8818: 8802: 8251: 7864: 7723: 6874: 6730: 6341:. In Kaysen C, Miller SE, Malin MB, Nordhaus WD, Steinbruner JD (eds.). 5997: 5699: 5682: 5472: 3780: 1654:

in 1776 is considered to be the first formalisation of economic thought.

15428: 15267: 15109: 15067: 15011: 14584: 14384: 14161: 13297: 12931: 12883: 12627: 11331: 10959: 10933:"The Market for 'Lemons': Quality Uncertainty and the Market Mechanism" 10773: 10746: 10391: 10213:

Findlay, Ronald (2008). Durlauf, Steven N.; Blume, Lawrence E. (eds.).

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and employment, and ultimately the development of wages and inflation.

4450: 4442: 4249:

but qualified by classical-like considerations in the intermediate and

4215: 4076: 3920: 3888: 3244:. Among each of these production systems, there may be a corresponding 3008: 2878: 2832: 2734: 2705: 2372: 2146: 2109: 2085: 2017: 1659: 1645: 1623: 1250: 690: 490: 12540: 11282:

on 20 March 2017 – via Alan Deardorff at University of Michigan.

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Annual Report on Exchange Arrangements and Exchange Restrictions 2022

10370: 5797: 5015: 4953: 4949: 4941: 4876: 4864: 4418:

as to what is exchanged, say apples and a book. Money can reduce the

4246: 4107: 4106:, and technological change. These are represented in theoretical and 4008: 3784: 3643: 3186: 3125: 2874: 2675: 2021: 1808: 1800: 1544: 1281: 1068: 540: 471: 13094:"A historical portrait of female economists' co-authorship networks" 10951: 10765: 9959:"Scale Economies, Product Differentiation, and the Pattern of Trade" 9559:

Probability, Econometrics and Truth: The Methodology of Econometrics

8382: 7078: 4845:, and to predict what the legal rules will be. A seminal article by 4259:, as distinct from the Keynesian view of the business cycle, posits 3972: 3575:

between agents, one kind of uncertainty. It provides a mathematical

3045:) and by the negative slope of the curve. If production of one good 14213: 13517:

Economics Departments, Institutes and Research Centers in the World

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Persky, Joseph (Autumn 1990). "Retrospectives: A Dismal Romantic".

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used in production of final goods, such as the steel in a new car.

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are difficult and uncommon in economics, and instead broad data is

2029: 1718: 1620:, which called for minimal government intervention in the economy. 1536: 1379: 1331: 15467: 14800: 12993:

International Encyclopedia of the Social & Behavioral Sciences

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an economic problem, subject to study by economic science, when a

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Lippman, S.S.; McCall, J.J. (2001). "Information, Economics of".

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Xenophons Oikonomikos, Über einen Klassiker der Haushaltsökonomie

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is the interdisciplinary study that combines economics, law, and

4809:

among several and has fields bordering on other areas, including

4772: 4682:. Policy applications include estimating the effects of changing 4154: 3946: 3936: 3659: 3375: 3338:, it applies to price and output determination for a market with 3241: 3089: 3023: 2866: 2653: 2638:

methods to represent theories and analyse problems in economics.

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The End of Economic Man: An Introduction to Humanistic Economics

5683:"Systematically Understanding Cybersecurity Economics: A Survey" 2737:. This has reduced the long-noted distinction of economics from 1788: 1472: 1090:

Other broad distinctions within economics include those between

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The Elusive Republic: Political Economy in Jeffersonian America

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The Foundations of Positive and Normative Economics: A Handbook

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and many colleges have a major, school, or department in which

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Welfare economics is a normative branch of economics that uses

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Theory and observation set out the conditions such that market

2805: 2219:

During the 1980s, a group of researchers appeared being called

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Economic analysis can be applied throughout society, including

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Kianpour, Mazaher; Kowalski, Stewart; Øverby, Harald (2021).

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Welfare economics uses microeconomics techniques to evaluate

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Behavioral Game Theory: Experiments in Strategic Interaction

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Inputs used in the production process include such primary

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network that brings together buyers and sellers through an

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A 1638 painting of a French seaport during the heyday of

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Economics focuses on the behaviour and interactions of

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Applied regression analysis for business and economics

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in maximizing output for given total inputs. A point

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won the Nobel Prize in economics in 2002 for his and

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6701:Backhouse, Roger E.; Medema, Steven (Winter 2009). 6689: 6066:(7th ed.). Wolters Kluwer – Aspen Publishers. 5470: 4633:seeks to identify what economies ought to be like. 2970:(national defence, smallpox vaccinations, etc.) or 2899: 2656:that can conceivably be refuted by empirical data. 1977:Neoclassical economics is occasionally referred as 1739:While Adam Smith emphasised production and income, 1378:of behaviour, the form imposed by the influence of 1268:(1803), distinguishing the subject matter from its 960: 951: 13490: 11939:Inequality-adjusted Human Development Index (IHDI) 9556: 9511:. Vol. II. 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The controlled experiments common to the 2009:for analysing long-run variables affecting 1830:Marxian economics was further developed by 1547:for being the source of the word economy. 1196: 14823: 14809: 13713: 13699: 12960:Becker, Gary S.; Murphy, Kevin M. (2003). 11993: 11803: 11411:, ch. 27, "The Process of Economic Growth" 9551: 9361: 9192: 9132: 8750: 8507: 7529:Bertholet, Auguste; Kapossy, Béla (2023). 7424: 7143:. University of Chicago Press. p. 5. 6973:. Ludwig von Mises Institute. p. 15. 6756: 6737: 6614: 6278: 6209: 4655: 4531:(the amount of money people receive), and 2166: 1799:comes from the work of German philosopher 1386:), generates both cost and benefits; and, 918: 904: 13729: 13673:: US-based database of learning materials 13611: 13183: 12690: 12043:. 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Similar empirical testing occurs in 2279:dynamic stochastic general equilibrium 2131: 2072:(1936), which ushered in contemporary 2040: 1962:. An immediate example of this is the 1894:At its inception as a social science, 1736:has criticised Malthus's conclusions. 1508:From antiquity through the physiocrats 14804: 13694: 13582:Krugman's Economics for the AP Course 13296: 12866: 12640: 12512: 12415: 12075:Inequality, Grievances, and Civil War 11750: 11684:"Okun's Law: Output and Unemployment" 11681: 11414: 11393: 11292: 11242:from the original on 30 December 2010 11191: 11121:from the original on 29 December 2010 10901: 10791:from the original on 26 November 2019 10719:from the original on 29 December 2010 10636:from the original on 30 December 2010 10360: 10307: 10132:Yang, Xiaokai; Ng, Yew-Kwang (1993). 10109:A Glossary of Political Economy Terms 9827: 9636: 9419: 9370: 9207:from the original on 29 November 2016 9063:from the original on 14 February 2022 8975:from the original on 21 December 2008 8856:Blanchard et al. (2017), pp. 518–519. 8847:Blanchard et al. (2017), pp. 517–518. 8791:Blanchard et al. 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Extreme 3609:Theory of Games and Economic Behavior 3553:would reduce to exchange of a single 3285:whereby resource owners benefit from 2659: 1326:(1890) that extended analysis beyond 15454: 13664:MERLOT Learning Materials: Economics 13479:Research Papers in Economics (RePEc) 13068: 13050:from the original on 24 October 2017 12699: 12467:from the original on 24 October 2017 12403:from the original on 20 October 2017 12372: 12348:from the original on 20 October 2017 12268:from the original on 20 October 2017 12216:from the original on 17 October 2017 12167:from the original on 16 October 2017 11950:United Nations Development Programme 11831: 11797: 11704:from the original on 4 December 2012 11560:from the original on 13 January 2014 11509:. Harvard University. 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(1987). 12151:10.1057/9780230226203.3360 11909:Trapeznikova, Ija (2019). 11623:10.1057/9780230226203.1641 11544:10.1057/9780230226203.1180 11432:10.1057/9780230226203.3097 11359:10.1057/9780230226203.3008 11225:10.1057/9780230226203.2480 11157:10.1057/9780230226203.2520 10873:Kaminsky, Graciela Laura. 10620:10.1057/9780230226203.1753 10571:10.1057/9780230226203.1442 10512:10.1057/9780230226203.3017 10426:10.1057/9780230226203.2788 10326:10.1057/9780230226203.3325 10270:10.1057/9780230226203.2613 10227:10.1057/9780230226203.0274 10074:10.1057/9780230226203.0401 10022:10.1057/9780230226203.1769 9907:10.1057/9780230226203.3485 9851:10.1057/9780230226203.3086 9654:10.1057/9780230226203.2513 9608:10.1057/9780230226203.2512 9517:10.1057/9780230226203.2430 9434:10.1057/9780230226203.3369 9385:10.1057/9780230226203.1184 9299:10.1057/9780230226203.3083 9098:10.1057/9780230226203.3307 9084:"Post-Keynesian economics" 8907:Cambridge University Press 8801:Woodford, Michael (2009). 8643:10.1057/9780230226203.2888 8541:10.1162/106454602753694765 8473:10.1057/9780230226203.1172 8418:10.1057/9780230226203.1781 8326:10.1057/9780230226203.3031 8123:10.1057/9780230226203.3051 8079:10.1057/9780230226203.3052 8030:Mill, John Stuart (1848). 7995:10.1057/9780230226203.0274 7873:, Bk. II: ch. 1, 2, and 5. 7696:. University of Michigan. 6771:10.1057/9780230226203.1300 6757:Groenwegen, Peter (2008). 6755:and Book IV, as quoted in 6661:10.1057/9780230226203.0442 6649:"Economics, definition of" 6513: 6497: 6397:10.1057/9780230226203.1491 5648:Dielman, Terry E. (2001). 5602:Friedman, Milton (1953). " 5013: 4793:Natural resource economics 4786: 4752: 4705: 4659: 4595: 4516: 4468: 4431:fixed exchange rate system 4364: 4358: 4309: 4281:real business cycle theory 4233:has branched into various 4158:A basic illustration of a 4135: 4129: 4060: 4001:national income and output 3965: 3912: 3908: 3757: 3751: 3523: 3439: 3300: 3216:Even if one region has an 3155: 2903: 2775: 2663: 2536: 2522: 2449:substitution possibilities 2385:new neoclassical synthesis 2309: 2292:2007–2008 financial crisis 2286:After the financial crisis 2265:new neoclassical synthesis 2257:New neoclassical synthesis 2254: 2251:New neoclassical synthesis 2212: 2203:real business cycle models 2170: 2144: 2058:, a key economics theorist 2044: 1887: 1781: 1633: 1456: 1226: 1214: 1202: 32:Economics (disambiguation) 29: 15437: 15404: 15388: 15135: 14861: 14838: 14762: 14720: 14362: 14096: 13845: 13810: 13728: 13387:Resources in your library 13282:(3rd ed.). Pearson. 13194:10.1080/13501780801913298 13113:10.1215/00182702-10085601 12570:(2nd ed.): 476–480. 11611:"Structural unemployment" 11345:Howitt, Peter M. (1987). 11212:"Environmental economics" 10669:"Chapter 1: Introduction" 10606:Wakker, Peter P. (2008). 10410:"Industrial organization" 10103:Johnson, Paul M. (2005). 10068:(2nd ed.): 517–526. 9371:Dixon, Huw David (2008). 9166:Berlin, D. I. W. (2006). 8291:(2nd ed.). Praeger. 8236:(Supplement 1): 805–820. 7500:Annales Benjamin Constant 7261:Backhouse, Roger (2002). 7202:10.1007/978-1-349-02116-1 7190:Gordan, Barry J. (1975). 6967:Robbins, Lionel (2007) . 6647:; Medema, Steven (2008). 6603:The Economics of Industry 6461:Backhouse, Roger (2002). 5563:Backhouse, Roger (2002). 5479:Oxford English Dictionary 5118:The Economics of Industry 4952:). Classic works include 4355:Money and monetary policy 4267:. It includes Friedman's 4173:authored a book entitled 4056: 3494:oligopoly, and monopoly. 2732:scientifically controlled 2223:, including among others 2157:purposes of stabilisation 2066:, in particular his book 1370:of behaviour" but rather 13491:Resources For Economists 13438:14 February 2022 at the 13022:"Mathematical economics" 12918:(6). See pp. 1074–1090. 12616:American Economic Review 12486:Economic Analysis of Law 12084:10.1017/cbo9781139084161 12049:10.1017/cbo9780511510809 10366:"The Nature of the Firm" 10256:Kemp, Murray C. (1987). 9967:American Economic Review 8461:"Neoclassical synthesis" 8067:"Marxian value analysis" 7907:Malthus, Thomas (1798). 7196:. MacMillan. p. 3. 7137:Becker, Gary S. (1976). 6176:American Economic Review 6094:The Economics of Justice 6063:Economic Analysis of Law 5982:"Feminism and Economics" 5941:A Treatise on the Family 5882:"Economics of Education" 5308: 5282:List of economics awards 5222:Critical juncture theory 5217:Asymmetric cointegration 5148:Nobel Prize in Economics 4797:Philosophy and economics 4686:rates and trade quotas. 4183:. Keynes contended that 3835:are one possible cause. 3435: 3349:For a given market of a 2871:monopolistic competition 2802:São Paulo Stock Exchange 2730:has promoted the use of 2714:statistical significance 2652:in economics, which are 2557:methodological framework 2510:of marginalised groups. 2465:constitutional economics 2426:Post-Keynesian economics 2221:New Keynesian economists 2201:and the presentation of 2179:new classical economists 1243:definitions of economics 1205:Definitions of economics 1197:Definitions of economics 148:JEL classification codes 15041:international relations 13962:Industrial organization 13785:Computational economics 13563:20 January 2021 at the 13539:24 January 2002 at the 13457:28 October 2021 at the 13427:Encyclopædia Britannica 12641:McCoy, Drew R. (1980). 12489:(7th ed.). Aspen. 12375:"Development economics" 12312:"International finance" 11896:Global Finance Magazine 11582:Dwivedi, D. N. (2005). 10500:"Managerial capitalism" 10310:"Prices and quantities" 10215:"Comparative advantage" 10209:, pp. 37, 433, 435 9889:Montani, Guido (1987). 9804:10.1162/003355300554683 9594:Bastable, C.F. (2008). 9422:"Qualitative economics" 9082:Harcourt, G.C. (1987). 8457:Blanchard, Olivier Jean 8314:"Marginalist economics" 7983:"Comparative advantage" 7961:Ricardo, David (1817). 7937:The Ultimate Resource 2 7913:. J. Johnson Publisher. 7831:Selected Papers, No. 50 7648:. M.E. Sharpe. p. 7460:Encyclopædia Britannica 7396:Lowry, S. Todd (1998). 7112:Encyclopædia Britannica 6949:Principles of Economics 6625:Jevons, William Stanley 6383:"Science, economics of" 6280:Iannaccone, Laurence R. 5538:; Wells, Robin (2012). 5484:Oxford University Press 5412:information asymmetries 5287:List of economics films 5136:(1915–2012) coauthored 4969:The Philosophy of Money 4835:institutional economics 4662:International economics 4656:International economics 4565:equality of opportunity 4341:Structural unemployment 4138:Circular flow of income 3931:as to desirability and 3885:environmental economics 3815:Information asymmetries 3801:environmental scientist 3768:Environmental economics 3581:industrial organisation 3491:Industrial organisation 3446:Industrial organisation 3291:increased income levels 3174:A map showing the main 3111:production inefficiency 2692:observationally studied 2481:structuralist economics 2469:institutional economics 2451:between human-made and 2444:environmental economics 2430:University of Cambridge 2381:New Keynesian economics 2377:new classical economics 2245:price and wage rigidity 2215:New Keynesian economics 2167:New classical economics 1825:theory of surplus value 1323:Principles of Economics 334:Industrial organization 191:Computational economics 15368:Quantum social science 14167:Modern monetary theory 13832:Experimental economics 13802:Pluralism in economics 13775:Mathematical economics 13643:Economics at About.com 13484:16 August 2000 at the 12145:. pp. 1055–1060. 11944:July 12, 2019, at the 10902:Calomiris, Charles W. 10847:Currency Crises Models 10475:"Managerial Economics" 7640:Skousen, Mark (2001). 6848:Malthus, Thomas Robert 6527:, "custom" or "law"). 5894:10.1596/1813-9450-4122 5759:Dharmaraj, E. (2010). 5164:John Bates Clark Medal 4923:evolutionary economics 4843:economically efficient 4763:process in relatively 4675: 4672:gross domestic product 4537:distribution of wealth 4529:distribution of income 4435:open market operations 4386:economies, and is the 4380:means of final payment 4325: 4324:rate from 1990 to 2022 4239:neoclassical synthesis 4162: 4118:growth models) and in 3992: 3983:and the generation of 3829:failure of competition 3804: 3792: 3776:Agricultural economics 3573:strategic interactions 3324: 3182: 3029:potential total output 2931: 2906:Production (economics) 2816: 2794: 2728:Experimental economics 2696:experimental economics 2670:Experimental economics 2634:is the application of 2632:mathematical economics 2584:rational choice theory 2533:Mathematical economics 2473:evolutionary economics 2369:neoclassical synthesis 2361:neoclassical economics 2059: 1972:neoclassical synthesis 1940:labour theory of value 1890:Neoclassical economics 1884:Neoclassical economics 1821:labour theory of value 1813: 1804: 1768:labour theory of value 1715: 1676:, including increased 1655: 1520: 1482:is missing information 1414:of high unemployment. 1360: 1345: 1315: 1263: 1045:investment expenditure 186:Experimental economics 15405:Other categorizations 15258:International studies 15243:History of technology 15178:Communication studies 15061:public administration 13522:30 April 2013 at the 13274:; Amighini, Alessia; 12771:Mayumi, Kozo (2001). 10498:Hughes, Alan (1987). 10010:"Urban agglomeration" 9420:Quirk, James (1987). 8594:. London: Macmillan. 8285:Clark, Barry (1998). 7927:The Ultimate Resource 7106:(15 September 2017). 6856:. London: J. Johnson. 6606:. Macmillan. p. 6413:on 29 September 2017. 6211:Heilbroner, Robert L. 5761:Engineering Economics 5257:Glossary of economics 5074:, though it is not a 5034:Bachelor of Economics 4755:Development economics 4749:Development economics 4731:factors of production 4688:International finance 4670:List of countries by 4669: 4642:allocative efficiency 4625:Much of economics is 4527:, measured using the 4507:Ricardian equivalence 4319: 4273:rational expectations 4265:imperfect information 4157: 4036:imperfect competition 3975: 3899:cost–benefit analysis 3883:is one example. Much 3798: 3783: 3764:Information economics 3714:Information economics 3695:Information asymmetry 3652:financial instruments 3593:behavioural economics 3526:Information economics 3487:perfectly competitive 3328:Prices and quantities 3310: 3207:comparative advantage 3173: 3162:Comparative advantage 3130:allocative efficiency 3098:productive efficiency 3070:real opportunity cost 2983:factors of production 2938:is the conversion of 2925: 2856:imperfect competition 2800: 2789: 2746:behavioural economics 2724:, and prior beliefs. 2501:biophysical economics 2296:behavioural economics 2270:imperfect information 2195:rational expectations 2054: 1999:imperfect competition 1791: 1745:comparative advantage 1722:Thomas Robert Malthus 1710: 1665:The Wealth of Nations 1651:The Wealth of Nations 1643: 1515: 1366:in "pick out certain 1352: 1340: 1310: 1259: 1108:behavioural economics 1049:factors of production 15238:Historical sociology 14041:Social choice theory 13797:Behavioral economics 13780:Complexity economics 13669:14 June 2013 at the 13551:27 July 2019 at the 13420:25 June 2022 at the 13408:10 July 2013 at the 13214:Nordhaus, William D. 13075:World Economic Forum 13028:. pp. 401–403. 12702:Ecological Economics 12678:Ecological Economics 12373:Bell, Clive (1987). 12194:. pp. 889–095. 12135:Musgrave, Richard A. 11724:Francis Amasa Walker 11609:Freeman, C. (2008). 11426:. pp. 483–489. 11353:. pp. 273–276. 11218:. pp. 159–164. 11151:. pp. 263–265. 11114:Revelation Principle 10406:Schmalensee, Richard 10062:"Division of labour" 9228:"Feminist Economics" 8930:Gali, Jordi (2015). 8909:. pp. 226–227. 8205:. pp. 209–230. 7613:Hunt, E. K. (2002). 7583:Blaug, Mark (1997). 6722:10.1257/jep.23.1.221 6598:Marshall, Mary Paley 6165:Boulding, Kenneth E. 5792:King, David (2018). 5292:Outline of economics 5267:Humanistic economics 4919:ecological economics 4765:low-income countries 4761:economic development 4620:public choice theory 4416:coincidence of wants 4397:Francis Amasa Walker 4271:on consumption and " 4047:capital accumulation 3772:Ecological economics 3634:evolutionary biology 3498:Managerial economics 3454:Managerial economics 3180:late medieval Europe 3055:inverse relationship 2839:such as apples or a 2823:, interact within a 2519:Theoretical research 2485:world systems theory 2440:Ecological economics 2334:mainstream economics 1983:mainstream economics 1588:economic nationalism 1539:, the author of the 1112:mainstream economics 1079:that have impact on 413:Social choice theory 30:For other uses, see 15418:Geisteswissenschaft 15412:Behavioral sciences 15338:Political sociology 15253:Information science 15198:Development studies 14125:American (National) 13825:Economic statistics 13655:Economics textbooks 13648:2 June 2007 at the 13496:11 May 2013 at the 13475:of UK universities. 13396:General information 13276:Giavazzi, Francesco 13256:. New York: Worth. 13254:Survey of Economics 13081:on 22 January 2016. 12714:1995EcoEc..13..149D 12564:"Political Economy" 12439:"Law and economics" 12188:"Welfare economics" 11924:10.15185/izawol.462 11672:, pp. 445–446. 11660:, pp. 444–445. 11516:on 18 January 2012. 11475:Sheffrin, Steven M. 11272:"Welfare economics" 10555:Rothschild, Michael 9758:2002SciAm.286a..82S 9745:Scientific American 9719:10.1038/nature02043 9711:2003Natur.425..785F 9553:Keuzenkamp, Hugo A. 9059:. 9 November 2019. 8819:10.1257/mac.1.1.267 7690:"Division of labor" 7322:biblestudytools.com 7172:. Huffington Post. 6875:10.1257/jep.4.4.165 6815:. Grigg and Elliot. 6759:"Political Economy" 6645:Backhouse, Roger E. 6252:The Idea of Justice 5998:10.1257/jep.9.2.131 5700:10.3390/su132413677 5482:(Online ed.). 5327:circulating capital 5262:Happiness economics 5114:Mary Paley Marshall 5038:Master of Economics 4631:Normative economics 4616:income distribution 4612:economic efficiency 4561:equality of outcome 4535:measured using the 4519:Economic inequality 4475:Government spending 4427:inflation targeting 4243:classical economics 4235:research programmes 4181:Keynesian economics 4171:John Maynard Keynes 3997:general-equilibrium 3941:general equilibrium 3933:economic efficiency 3874:perfect competition 3789:costs of production 3664:financial structure 3656:Financial economics 3569:applied mathematics 3534:Financial economics 3510:regression analysis 3506:operations research 3391:substitution effect 3340:perfect competition 3254:and differentiated 3005:Economic efficiency 2934:In microeconomics, 2914:Economic efficiency 2890:General-equilibrium 2886:partial equilibrium 2710:regression analysis 2706:Statistical methods 2700:natural experiments 2365:Keynesian economics 2357:classical economics 2132:Post-WWII economics 2106:private consumption 2064:John Maynard Keynes 2056:John Maynard Keynes 2047:Keynesian economics 2041:Keynesian economics 1921:Mary Paley Marshall 1726:diminishing returns 1696:theory—that, under 1694:resource-allocation 1678:labour productivity 1658:The publication of 1644:The publication of 1636:Classical economics 1555:writers, including 1408:expanded the domain 1298:classical economics 1179:social institutions 1116:heterodox economics 1096:normative economics 1083:. It also seeks to 880:Business portal 201:Operations research 181:National accounting 15473:Society portal 14960:auxiliary sciences 13682:9 May 2013 at the 13638:on 6 October 2016. 13473:Internet directory 13272:Blanchard, Olivier 12988:Ashenfelter, Orley 12481:Posner, Richard A. 11915:IZA World of Labor 11471:O'Sullivan, Arthur 11420:"Models of growth" 10977:on 18 August 2011. 10308:Brody, A. (1987). 10258:"Gains from trade" 9830:, pp. 347–349 9470:Samuelson, Paul A. 9200:The New York Times 8222:also published in 8167:The New York Times 8049:, Bk. 1, Ch. 5, 6. 7821:Also published as 7720:Stigler, George J. 7686:Deardorff, Alan V. 7462:. 26 August 2016. 7063:Stigler, George J. 6807:Say, Jean Baptiste 6362:on 2 February 2007 6282:(September 1998). 6089:Posner, Richard A. 6058:Posner, Richard A. 5416:incomplete markets 5404:Joseph E. Stiglitz 5302:Solidarity economy 5232:Economic democracy 5105:Women in economics 4934:economic sociology 4827:cultural economics 4811:economic geography 4676: 4493:multiplier effects 4408:medium of exchange 4382:for goods in most 4367:Monetary economics 4326: 4224:The General Theory 4163: 3993: 3991:, is not included. 3929:productive factors 3833:economies of scale 3819:incomplete markets 3805: 3793: 3760:Government failure 3740:, inspection, and 3726:monetary economics 3710:incomplete markets 3622:nuclear strategies 3480:economies of scale 3450:Business economics 3442:Theory of the firm 3424:Market equilibrium 3374:on demand). Here, 3325: 3247:division of labour 3218:absolute advantage 3183: 3158:Division of labour 2999:intermediate goods 2976:"guns" vs "butter" 2932: 2817: 2810:electronic trading 2795: 2782:Market (economics) 2660:Empirical research 2600:theory of the firm 2592:budget constraints 2561:schools of thought 2507:Feminist economics 2497:feminist economics 2338:Saltwater approach 2322:School of Lausanne 2060: 2003:neoclassical model 1979:orthodox economics 1805: 1674:division of labour 1656: 1521: 1430:social interaction 1426:market equilibrium 1290:the dismal science 1092:positive economics 1010:goods and services 211:Industrial complex 206:Middle income trap 15513:Economic theories 15493: 15492: 15333:Political economy 15328:Political ecology 15183:Community studies 15173:Cognitive science 15136:Interdisciplinary 15036:Political science 14798: 14797: 14329:New institutional 13628:978-0-07-337569-4 13592:978-1-319-11327-8 13469:Intute: Economics 13461:(UK-based), with 13442:Definitions from 13373:Library resources 13289:978-1-292-08567-8 13263:978-1-4292-5956-9 13210:Samuelson, Paul A 13043:978-0-333-78676-5 13003:978-0-0804-3076-8 12832:Coleman, James S. 12814:978-0-691-07439-9 12784:978-0-415-23523-5 12763:978-1-85898-667-8 12654:978-0-8078-1416-1 12585:978-0-333-78676-5 12496:978-0-7355-6354-4 12460:978-0-333-78676-5 12396:978-0-333-78676-5 12333:978-0-333-78676-5 12261:978-0-333-78676-5 12209:978-0-333-78676-5 12160:978-0-333-78676-5 12109:World Development 11876:978-92-9259-298-1 11817:979-8-4002-3526-9 11767:978-1-5615-9041-4 11691:Economic Synopses 11632:978-0-333-78676-5 11595:978-0-07-058841-7 11553:978-0-333-78676-5 11488:978-0-13-063085-8 11441:978-0-333-78676-5 11368:978-0-333-78676-5 11235:978-0-333-78676-5 11166:978-0-333-78676-5 11110:Myerson, Roger B. 11054:Adverse Selection 11051:Wilson, Charles. 11010:978-0-08-043076-8 10745:(February 1990). 10687:978-1-4008-4088-5 10665:Camerer, Colin F. 10629:978-0-333-78676-5 10580:978-0-333-78676-5 10521:978-0-333-78676-5 10445:978-0-333-78676-5 10435:2027/uc1.$ b37792 10335:978-0-333-78676-5 10279:978-0-333-78676-5 10236:978-0-333-78676-5 10178:978-0-19-507445-1 10163:Cameron, Rondo E. 10145:978-0-444-88698-9 10138:. North-Holland. 10113:Auburn University 10083:978-0-333-78676-5 10031:978-0-333-78676-5 9957:(December 1980). 9916:978-0-333-78676-5 9860:978-0-333-78676-5 9705:(6960): 785–791. 9663:978-0-333-78676-5 9617:978-0-333-78676-5 9574:978-0-521-55359-9 9526:978-0-333-78676-5 9489:978-0-674-31301-9 9443:978-0-333-78676-5 9394:978-0-333-78676-5 9308:978-0-333-78676-5 9249:978-1-349-95121-5 9152:978-1-349-95121-5 9107:978-0-333-78676-5 9016:978-1-349-95121-5 8966:The New Consensus 8943:978-0-691-16478-6 8916:978-0-521-53142-9 8897:Gordon, Robert J. 8653:978-0-333-78676-5 8601:978-1-57392-139-8 8482:978-0-333-78676-5 8427:978-0-333-78676-5 8335:978-0-333-78676-5 8298:978-0-275-95869-5 8132:978-0-333-78676-5 8088:978-0-333-78676-5 8004:978-0-333-78676-5 7947:978-0-691-00381-8 7659:978-0-7656-0479-8 7626:978-0-7656-0606-8 7596:978-0-521-57701-4 7438:978-0-415-10888-1 7370:978-0-19-938113-5 7267:. Penguin Adult. 7232:978-0-393-05039-4 7211:978-1-349-02116-1 7150:978-0-226-04112-4 6980:978-1-61016-039-1 6917:978-1-60206-978-7 6900:Mill, John Stuart 6839:Fraser's Magazine 6780:978-0-333-78676-5 6670:978-0-333-78676-5 6576:978-1-4129-6142-4 6532:(February 2007). 6406:978-0-333-78676-5 6352:978-0-87724-036-5 6158:Introduction only 6152:978-0-86597-012-0 5902:20.500.12323/2954 5844:. pp. 1–54. 5807:978-1-138-64813-5 5634:978-0-19-532831-8 5516:on 24 August 2022 5490:(Subscription or 5446:978-0-393-93709-1 5430:disturbances (in 5395:978-0-19-926497-1 5237:Economic ideology 5120:with her husband 5110:Harriet Martineau 4881:political economy 4861:political science 4857:Political economy 4805:Economics is one 4801:Political economy 4789:Law and economics 4769:structural change 4533:wealth inequality 4525:income inequality 4393:social convention 4286:In contrast, the 4275:" theory, led by 4120:growth accounting 4110:forms (as in the 4104:population growth 4005:unemployment rate 3981:natural resources 3915:Welfare economics 3699:adverse selection 3687:Market for Lemons 3668:financial markets 3648:futures contracts 3630:political science 3618:Oskar Morgenstern 3604:supply and demand 3414:profit maximisers 3313:supply and demand 3303:Supply and demand 3297:Supply and demand 3252:capital equipment 3178:for goods within 3141:applied economics 3134:Pareto efficiency 3115:one or both goods 3105:the curve (as at 3013:Pareto efficiency 2950:or a service for 2688:physical sciences 2576:supply and demand 2477:dependency theory 2461:Marxian economics 2237:Olivier Blanchard 2098:Franco Modigliani 1936:supply and demand 1925:political economy 1846:Rudolf Hilferding 1784:Marxian economics 1778:Marxian economics 1592:modern capitalism 1549:Joseph Schumpeter 1543:, is credited by 1505: 1504: 1438:James M. Buchanan 1266:Jean-Baptiste Say 1255:political economy 1100:applied economics 996:that studies the 928: 927: 18:Economic analysis 16:(Redirected from 15520: 15481: 15471: 15470: 15457: 15456: 15445: 15444: 15348:Regional science 15193:Cultural studies 15168:Business studies 14825: 14818: 14811: 14802: 14801: 14002:Natural resource 13837:Economic history 13763:Mechanism design 13715: 13708: 13701: 13692: 13691: 13639: 13637: 13631:. Archived from 13620: 13608: 13606: 13604: 13452:Economics Online 13353: 13352: 13334: 13323:. Edward Elgar. 13315: 13293: 13267: 13241: 13205: 13187: 13158: 13157: 13155: 13153: 13147:Banque de France 13138: 13132: 13131: 13129: 13127: 13098: 13089: 13083: 13082: 13077:. Archived from 13066: 13060: 13059: 13057: 13055: 13014: 13008: 13007: 12984: 12978: 12977: 12957: 12951: 12950: 12948: 12942:. Archived from 12909: 12897: 12891: 12887: 12868:Frank, Robert H. 12863: 12861: 12859: 12825: 12819: 12818: 12798: 12792: 12788: 12767: 12746: 12725: 12696: 12694: 12665: 12659: 12658: 12638: 12632: 12631: 12612:Krueger, Anne O. 12608: 12602: 12601: 12599: 12597: 12559: 12553: 12552: 12510: 12504: 12500: 12476: 12474: 12472: 12428: 12422: 12412: 12410: 12408: 12367: 12361: 12357: 12355: 12353: 12306: 12277: 12275: 12273: 12232: 12226: 12225: 12223: 12221: 12183: 12177: 12176: 12174: 12172: 12139:"Public finance" 12131: 12125: 12124: 12104: 12098: 12097: 12069: 12063: 12062: 12034: 12028: 12027: 11991: 11985: 11984: 11982: 11980: 11966: 11953: 11935: 11929: 11928: 11926: 11906: 11900: 11899: 11887: 11881: 11880: 11868: 11858: 11852: 11851: 11849: 11847: 11835: 11829: 11828: 11826: 11824: 11801: 11795: 11794: 11792: 11790: 11778: 11772: 11771: 11748: 11742: 11741: 11739: 11737: 11720: 11714: 11713: 11711: 11709: 11703: 11688: 11679: 11673: 11667: 11661: 11655: 11649: 11648: 11646: 11644: 11606: 11600: 11599: 11579: 11570: 11569: 11567: 11565: 11528:Fischer, Stanley 11524: 11518: 11517: 11515: 11508: 11499: 11493: 11492: 11467: 11461: 11457: 11455: 11453: 11403: 11397: 11391: 11385: 11384: 11382: 11380: 11342: 11336: 11335: 11302: 11296: 11290: 11284: 11283: 11278:. Archived from 11267: 11261: 11251: 11249: 11247: 11227: 11208:Kneese, Allen V. 11201: 11195: 11189: 11183: 11182: 11180: 11178: 11137: 11131: 11130: 11128: 11126: 11106: 11100: 11099: 11097: 11095: 11077: 11071: 11070: 11068: 11066: 11048: 11042: 11041: 11033: 11027: 11021: 11015: 11014: 10988: 10979: 10978: 10976: 10970:. Archived from 10937: 10928: 10922: 10921: 10919: 10917: 10899: 10893: 10892: 10890: 10888: 10870: 10864: 10863: 10861: 10859: 10841: 10835: 10834: 10826:Ross, Stephen A. 10822: 10816: 10815: 10807: 10801: 10800: 10798: 10796: 10790: 10751: 10735: 10729: 10728: 10726: 10724: 10715:(2nd ed.). 10701: 10695: 10691: 10673: 10652: 10646: 10645: 10643: 10641: 10603: 10597: 10596: 10594: 10592: 10551:Machina, Mark J. 10547: 10541: 10537: 10535: 10533: 10494: 10492: 10490: 10468: 10462: 10461: 10459: 10457: 10437: 10402: 10396: 10395: 10358: 10352: 10351: 10349: 10347: 10320:. pp. 1–7. 10305: 10299: 10295: 10293: 10291: 10252: 10250: 10248: 10201: 10195: 10194: 10192: 10190: 10159: 10153: 10149: 10128: 10126: 10124: 10105:"Specialization" 10099: 10097: 10095: 10054: 10048: 10047: 10045: 10043: 10005: 9999: 9998: 9996: 9994: 9988: 9963: 9951: 9945: 9939: 9933: 9932: 9930: 9928: 9901:. pp. 1–4. 9886: 9880: 9876: 9874: 9872: 9839:"Microeconomics" 9822: 9816: 9815: 9787: 9781: 9777: 9738: 9689: 9683: 9679: 9677: 9675: 9638:Smith, Vernon L. 9633: 9631: 9629: 9588: 9582: 9581: 9562: 9549: 9543: 9542: 9540: 9538: 9500: 9494: 9493: 9466: 9460: 9459: 9457: 9455: 9417: 9411: 9410: 9408: 9406: 9368: 9359: 9355: 9324: 9322: 9320: 9279: 9273: 9267: 9261: 9260: 9258: 9256: 9234:. pp. 1–6. 9223: 9217: 9216: 9214: 9212: 9190: 9184: 9183: 9181: 9179: 9163: 9157: 9156: 9130: 9124: 9123: 9121: 9119: 9079: 9073: 9072: 9070: 9068: 9053: 9047: 9046: 9044: 9042: 9027: 9021: 9020: 8994: 8985: 8984: 8982: 8980: 8974: 8963: 8954: 8948: 8947: 8927: 8921: 8920: 8893: 8887: 8886: 8884: 8882: 8872: 8866:Guvenen, Fatih. 8863: 8857: 8854: 8848: 8845: 8839: 8838: 8798: 8792: 8789: 8783: 8780: 8774: 8773: 8771: 8769: 8754: 8748: 8745: 8739: 8736: 8730: 8729: 8727: 8725: 8709: 8703: 8700: 8694: 8691: 8685: 8669: 8667: 8665: 8645: 8621: 8615: 8605: 8582: 8576: 8575: 8573: 8571: 8565: 8534: 8514: 8505: 8499: 8498: 8496: 8494: 8453: 8444: 8443: 8441: 8439: 8401: 8395: 8394: 8363: 8352: 8351: 8349: 8347: 8309: 8303: 8302: 8282: 8276: 8270: 8264: 8263: 8245: 8221: 8219: 8217: 8211: 8200: 8189: 8183: 8182: 8180: 8178: 8158: 8152: 8148: 8146: 8144: 8104: 8102: 8100: 8056: 8050: 8044: 8038: 8037: 8027: 8021: 8020: 8018: 8016: 7975: 7969: 7968: 7958: 7952: 7951: 7931: 7921: 7915: 7914: 7904: 7898: 7892: 7886: 7880: 7874: 7868: 7862: 7856: 7850: 7849: 7847: 7845: 7839: 7828: 7820: 7795:(6): 1199–1213. 7784: 7778: 7777: 7775: 7773: 7767: 7728: 7716: 7710: 7709: 7707: 7705: 7682: 7676: 7670: 7664: 7663: 7647: 7637: 7631: 7630: 7610: 7604: 7600: 7579: 7577: 7575: 7566:. 7 March 2014. 7553: 7547: 7546: 7526: 7520: 7519: 7517: 7515: 7491: 7485: 7475: 7473: 7471: 7449: 7443: 7442: 7422: 7416: 7415: 7393: 7387: 7386: 7384: 7382: 7344: 7338: 7337: 7335: 7333: 7314: 7308: 7305: 7299: 7298: 7296: 7294: 7258: 7252: 7248: 7246: 7244: 7215: 7184: 7178: 7177: 7161: 7155: 7154: 7134: 7128: 7127: 7125: 7123: 7100: 7094: 7090: 7058: 7048: 7021: 7012: 7006: 7000: 6994: 6985: 6984: 6964: 6958: 6957: 6944:Marshall, Alfred 6940: 6934: 6933: 6931: 6929: 6896: 6890: 6886: 6857: 6843: 6823: 6817: 6816: 6803: 6797: 6796: 6794: 6792: 6754: 6741: 6735: 6734: 6724: 6698: 6687: 6686: 6684: 6682: 6641: 6635: 6634: 6621: 6612: 6611: 6594:Marshall, Alfred 6590: 6581: 6580: 6560: 6554: 6553: 6551: 6549: 6525: 6518: 6517: 6509: 6502: 6501: 6493: 6487: 6486: 6458: 6452: 6451: 6449: 6447: 6441: 6430: 6422: 6416: 6414: 6409:. Archived from 6378: 6372: 6371: 6369: 6367: 6361: 6355:. Archived from 6340: 6328: 6322: 6321: 6319: 6317: 6311: 6297:(3): 1465–1495. 6288: 6276: 6270: 6266: 6242: 6240: 6238: 6206: 6204: 6202: 6196: 6173: 6156: 6130: 6124: 6120: 6118: 6116: 6084: 6082: 6080: 6051: 6045: 6044: 6042: 6040: 6013: 6011: 6009: 5978:Nelson, Julie A. 5974: 5968: 5967: 5965: 5963: 5932: 5926: 5925: 5923: 5921: 5877: 5871: 5870: 5868: 5866: 5860: 5835: 5826: 5820: 5819: 5789: 5783: 5782: 5756: 5750: 5749: 5721: 5715: 5714: 5712: 5702: 5678: 5672: 5671: 5645: 5639: 5638: 5618: 5612: 5611: 5599: 5593: 5592: 5560: 5554: 5553: 5532: 5526: 5525: 5523: 5521: 5512:. Archived from 5502: 5496: 5495: 5487: 5475: 5468: 5452: 5450: 5426:situations, and 5408:natural monopoly 5399: 5375: 5369: 5362: 5356: 5349: 5343: 5336: 5330: 5319: 5210: 5205: 5204: 5099:computer science 5065:Economic analyst 5026:academic degrees 4986:Richard Swedberg 4978:Mark Granovetter 4974:James S. Coleman 4903:Georgescu-Roegen 4887:Energy economics 4831:family economics 4823:energy economics 4815:economic history 4783:Related subjects 4708:Labour economics 4702:Labour economics 4680:gains from trade 4598:Public economics 4592:Public economics 4549:Gini coefficient 4455:aggregate demand 4420:transaction cost 4371:History of money 4185:aggregate demand 4167:Great Depression 4146:Aggregate demand 4142:Aggregate supply 4068:Growth economics 3989:greenhouse gases 3858:price stickiness 3825:Natural monopoly 3722:mechanism design 3672:financial crises 3614:John von Neumann 3395:purchasing power 3393:). In addition, 3283:gains from trade 3213:cheaper, input. 3166:Gains from trade 2964:investment goods 2910:Opportunity cost 2821:market structure 2758:cognitive biases 2739:natural sciences 2612:microfoundations 2588:opportunity cost 2432:and the work of 2420:Ludwig von Mises 2326:Stockholm school 2275:aggregate demand 2120:built the first 2114:aggregate demand 2079:effective demand 1944:marginal utility 1929:natural sciences 1818: 1760:John Stuart Mill 1753:gains from trade 1730:Human population 1682:gains from trade 1579:theory within a 1557:Tomás de Mercado 1500: 1497: 1491: 1475: 1467: 1306:John Stuart Mill 1229: 1228: 1219: 1218: 991: 990: 987: 986: 983: 980: 977: 972: 971: 968: 965: 962: 959: 956: 953: 950: 947: 944: 941: 920: 913: 906: 892:Money portal 890: 889: 888: 878: 877: 374:Natural resource 166:Economic systems 62: 39: 38: 21: 15528: 15527: 15523: 15522: 15521: 15519: 15518: 15517: 15498: 15497: 15494: 15489: 15465: 15433: 15400: 15384: 15358:Science studies 15142:Administration 15131: 14857: 14834: 14832:Social sciences 14829: 14799: 14794: 14791:Business portal 14758: 14757: 14756: 14716: 14480:von Böhm-Bawerk 14368: 14367: 14358: 14130:Ancient thought 14108: 14107: 14101: 14092: 14091: 14090: 13841: 13806: 13758:Contract theory 13743:Decision theory 13724: 13719: 13689: 13684:Wayback Machine 13671:Wayback Machine 13650:Wayback Machine 13635: 13629: 13618: 13602: 13600: 13593: 13574: 13572:Study resources 13569: 13565:Wayback Machine 13553:Wayback Machine 13546:World Bank Data 13541:Wayback Machine 13524:Wayback Machine 13512: 13507: 13498:Wayback Machine 13486:Wayback Machine 13463:drop-down menus 13459:Wayback Machine 13440:Wayback Machine 13422:Wayback Machine 13410:Wayback Machine 13398: 13393: 13392: 13391: 13381: 13380: 13376: 13369: 13350: 13331: 13312: 13290: 13264: 13248: 13246:Further reading 13230: 13185:10.1.1.533.7658 13166: 13161: 13151: 13149: 13139: 13135: 13125: 13123: 13096: 13090: 13086: 13067: 13063: 13053: 13051: 13044: 13015: 13011: 13004: 12985: 12981: 12974: 12958: 12954: 12946: 12907: 12901:Becker, Gary S. 12898: 12894: 12890: 12857: 12855: 12848: 12826: 12822: 12815: 12799: 12795: 12791: 12785: 12764: 12666: 12662: 12655: 12639: 12635: 12609: 12605: 12595: 12593: 12586: 12560: 12556: 12511: 12507: 12503: 12497: 12470: 12468: 12461: 12435:Friedman, David 12429: 12425: 12421: 12406: 12404: 12397: 12368: 12364: 12360: 12351: 12349: 12334: 12303: 12271: 12269: 12262: 12233: 12229: 12219: 12217: 12210: 12184: 12180: 12170: 12168: 12161: 12132: 12128: 12105: 12101: 12094: 12070: 12066: 12059: 12035: 12031: 11992: 11988: 11978: 11976: 11968: 11967: 11956: 11946:Wayback Machine 11936: 11932: 11907: 11903: 11890:Ventura, Luca. 11888: 11884: 11877: 11866: 11860: 11859: 11855: 11845: 11843: 11836: 11832: 11822: 11820: 11818: 11802: 11798: 11788: 11786: 11781:Jahan, Sarwat. 11779: 11775: 11768: 11749: 11745: 11735: 11733: 11721: 11717: 11707: 11705: 11701: 11686: 11680: 11676: 11668: 11664: 11656: 11652: 11642: 11640: 11633: 11607: 11603: 11596: 11580: 11573: 11563: 11561: 11554: 11525: 11521: 11513: 11506: 11500: 11496: 11489: 11468: 11464: 11460: 11451: 11449: 11442: 11404: 11400: 11392: 11388: 11378: 11376: 11369: 11343: 11339: 11303: 11299: 11291: 11287: 11268: 11264: 11260: 11245: 11243: 11236: 11202: 11198: 11190: 11186: 11176: 11174: 11167: 11145:"Externalities" 11138: 11134: 11124: 11122: 11107: 11103: 11093: 11091: 11078: 11074: 11064: 11062: 11049: 11045: 11034: 11030: 11022: 11018: 11011: 10989: 10982: 10974: 10952:10.2307/1879431 10935: 10929: 10925: 10915: 10913: 10900: 10896: 10886: 10884: 10876:Currency Crises 10871: 10867: 10857: 10855: 10842: 10838: 10823: 10819: 10814:(2nd ed.). 10808: 10804: 10794: 10792: 10788: 10766:10.2307/2937820 10749: 10736: 10732: 10722: 10720: 10702: 10698: 10694: 10688: 10671: 10653: 10649: 10639: 10637: 10630: 10604: 10600: 10590: 10588: 10581: 10548: 10544: 10540: 10531: 10529: 10522: 10488: 10486: 10473: 10469: 10465: 10455: 10453: 10446: 10403: 10399: 10378:(16): 386–405. 10359: 10355: 10345: 10343: 10336: 10306: 10302: 10298: 10289: 10287: 10280: 10246: 10244: 10237: 10202: 10198: 10188: 10186: 10179: 10160: 10156: 10152: 10146: 10122: 10120: 10093: 10091: 10084: 10055: 10051: 10041: 10039: 10032: 10006: 10002: 9992: 9990: 9986: 9961: 9952: 9948: 9940: 9936: 9926: 9924: 9917: 9887: 9883: 9879: 9870: 9868: 9861: 9823: 9819: 9788: 9784: 9780: 9690: 9686: 9682: 9673: 9671: 9664: 9627: 9625: 9618: 9589: 9585: 9575: 9550: 9546: 9536: 9534: 9527: 9501: 9497: 9490: 9467: 9463: 9453: 9451: 9444: 9418: 9414: 9404: 9402: 9395: 9369: 9362: 9358: 9318: 9316: 9309: 9280: 9276: 9268: 9264: 9254: 9252: 9250: 9224: 9220: 9210: 9208: 9191: 9187: 9177: 9175: 9164: 9160: 9153: 9131: 9127: 9117: 9115: 9108: 9080: 9076: 9066: 9064: 9055: 9054: 9050: 9040: 9038: 9033:. 16 May 2014. 9029: 9028: 9024: 9017: 8995: 8988: 8978: 8976: 8972: 8961: 8955: 8951: 8944: 8928: 8924: 8917: 8894: 8890: 8880: 8878: 8870: 8864: 8860: 8855: 8851: 8846: 8842: 8799: 8795: 8790: 8786: 8781: 8777: 8767: 8765: 8756: 8755: 8751: 8746: 8742: 8737: 8733: 8723: 8721: 8710: 8706: 8701: 8697: 8692: 8688: 8684: 8663: 8661: 8654: 8622: 8618: 8614: 8602: 8583: 8579: 8569: 8567: 8563: 8532:10.1.1.194.4605 8518:Artificial Life 8512: 8506: 8502: 8492: 8490: 8483: 8454: 8447: 8437: 8435: 8428: 8402: 8398: 8383:10.2307/1907242 8364: 8355: 8345: 8343: 8336: 8310: 8306: 8299: 8283: 8279: 8271: 8267: 8215: 8213: 8209: 8198: 8190: 8186: 8176: 8174: 8159: 8155: 8151: 8142: 8140: 8133: 8098: 8096: 8089: 8057: 8053: 8045: 8041: 8028: 8024: 8014: 8012: 8005: 7979:Findlay, Ronald 7976: 7972: 7959: 7955: 7948: 7922: 7918: 7905: 7901: 7893: 7889: 7881: 7877: 7869: 7865: 7857: 7853: 7843: 7841: 7837: 7826: 7822: 7785: 7781: 7771: 7769: 7765: 7726: 7717: 7713: 7703: 7701: 7683: 7679: 7671: 7667: 7660: 7638: 7634: 7627: 7611: 7607: 7603: 7597: 7573: 7571: 7558: 7554: 7550: 7543: 7527: 7523: 7513: 7511: 7492: 7488: 7484: 7469: 7467: 7454: 7450: 7446: 7439: 7423: 7419: 7412: 7394: 7390: 7380: 7378: 7371: 7349:"houses, Greek" 7345: 7341: 7331: 7329: 7316: 7315: 7311: 7306: 7302: 7292: 7290: 7275: 7259: 7255: 7251: 7242: 7240: 7233: 7212: 7185: 7181: 7162: 7158: 7151: 7135: 7131: 7121: 7119: 7101: 7097: 7093: 7079:10.2307/3439864 7039:(s1): 805–820. 7022: 7015: 7011:, pp. 4–7. 7007: 7003: 6995: 6988: 6981: 6965: 6961: 6941: 6937: 6927: 6925: 6918: 6897: 6893: 6889: 6830:Carlyle, Thomas 6824: 6820: 6804: 6800: 6790: 6788: 6781: 6742: 6738: 6699: 6690: 6680: 6678: 6671: 6642: 6638: 6622: 6615: 6591: 6584: 6577: 6561: 6557: 6547: 6545: 6530:Harper, Douglas 6494: 6490: 6475: 6459: 6455: 6445: 6443: 6439: 6428: 6424: 6423: 6419: 6407: 6379: 6375: 6365: 6363: 6359: 6353: 6338: 6329: 6325: 6315: 6313: 6309: 6286: 6277: 6273: 6269: 6263: 6236: 6234: 6227: 6200: 6198: 6194: 6171: 6153: 6131: 6127: 6123: 6114: 6112: 6105: 6078: 6076: 6074: 6052: 6048: 6038: 6036: 6029: 6007: 6005: 5975: 5971: 5961: 5959: 5952: 5936:Becker, Gary S. 5933: 5929: 5919: 5917: 5878: 5874: 5864: 5862: 5858: 5852: 5833: 5827: 5823: 5808: 5790: 5786: 5771: 5757: 5753: 5722: 5718: 5679: 5675: 5660: 5646: 5642: 5635: 5619: 5615: 5600: 5596: 5577: 5561: 5557: 5550: 5533: 5529: 5519: 5517: 5504: 5503: 5499: 5489: 5469: 5465: 5461: 5456: 5455: 5447: 5431: 5402: • 5401: 5396: 5382: 5376: 5372: 5363: 5359: 5350: 5346: 5342:, p. XVI) 5337: 5333: 5320: 5316: 5311: 5306: 5206: 5199: 5196: 5172:Amy Finkelstein 5144:Milton Friedman 5122:Alfred Marshall 5107: 5018: 5012: 4915:thermoeconomics 4871:behaviour, and 4803: 4787:Main articles: 4785: 4777:economic growth 4757: 4751: 4710: 4704: 4664: 4658: 4600: 4594: 4589: 4580:economic policy 4521: 4515: 4481: 4469:Main articles: 4467: 4388:unit of account 4373: 4363: 4361:Monetary policy 4357: 4314: 4308: 4292:market failures 4261:market clearing 4212:full employment 4198:actions by the 4196:monetary policy 4152: 4134: 4128: 4072:economic growth 4065: 4063:Economic growth 4059: 4013:monetary policy 3970: 3964: 3917: 3911: 3778: 3756: 3750: 3689:" article, the 3589:contract design 3571:that considers 3567:is a branch of 3551:capital markets 3536: 3524:Main articles: 3522: 3474:. According to 3456: 3440:Main articles: 3438: 3322: 3318: 3305: 3299: 3240:providers, and 3168: 3156:Main articles: 3154: 3148:contribution." 2987:labour services 2920: 2904:Main articles: 2902: 2784: 2776:Main articles: 2774: 2750:Daniel Kahneman 2748:, psychologist 2672: 2664:Main articles: 2662: 2549:economic models 2545: 2540:Economic Theory 2535: 2523:Main articles: 2521: 2516: 2453:natural capital 2416:Friedrich Hayek 2411:property rights 2403:Austrian School 2318:Freiburg School 2314: 2308: 2288: 2259: 2253: 2241:market failures 2217: 2211: 2191:Edward Prescott 2175: 2169: 2153:Milton Friedman 2149: 2143: 2134: 2049: 2043: 2011:national income 2007:economic growth 1964:consumer theory 1960:decision making 1949:ordinal utility 1942:in favour of a 1917:Alfred Marshall 1892: 1886: 1851:Finance Capital 1848:'s (1877–1941) 1786: 1780: 1638: 1632: 1510: 1501: 1495: 1492: 1485: 1476: 1465: 1457:Main articles: 1455: 1404:rational-choice 1356:human behaviour 1318:Alfred Marshall 1288:(1849) coined " 1207: 1199: 1191:the environment 1077:public policies 1073:economic growth 1017:economic agents 974: 938: 934: 924: 886: 884: 872: 865: 864: 835: 825: 824: 823: 822: 586:von Böhm-Bawerk 474: 463: 462: 224: 216: 215: 171:Economic growth 161: 153: 152: 94: 92:classifications 35: 28: 23: 22: 15: 12: 11: 5: 15526: 15516: 15515: 15510: 15491: 15490: 15488: 15487: 15475: 15463: 15451: 15438: 15435: 15434: 15432: 15431: 15426: 15421: 15414: 15408: 15406: 15402: 15401: 15399: 15398: 15392: 15390: 15386: 15385: 15383: 15382: 15377: 15372: 15371: 15370: 15365: 15355: 15350: 15345: 15340: 15335: 15330: 15325: 15324: 15323: 15318: 15313: 15305: 15304: 15303: 15301:social science 15298: 15293: 15288: 15283: 15275: 15270: 15265: 15260: 15255: 15250: 15245: 15240: 15235: 15233:Global studies 15230: 15228:Gender studies 15225: 15220: 15219: 15218: 15213: 15211:social science 15207:Environmental 15205: 15200: 15195: 15190: 15185: 15180: 15175: 15170: 15165: 15160: 15155: 15154: 15153: 15148: 15139: 15137: 15133: 15132: 15130: 15129: 15128: 15127: 15122: 15117: 15112: 15107: 15097: 15096: 15095: 15090: 15085: 15080: 15075: 15065: 15064: 15063: 15058: 15053: 15048: 15043: 15033: 15032: 15031: 15021: 15020: 15019: 15014: 15009: 15004: 14999: 14989: 14988: 14987: 14982: 14977: 14972: 14967: 14962: 14957: 14947: 14946: 14945: 14940: 14935: 14930: 14920: 14919: 14918: 14913: 14908: 14906:macroeconomics 14903: 14901:microeconomics 14893: 14892: 14891: 14886: 14881: 14876: 14865: 14863: 14859: 14858: 14856: 14855: 14850: 14845: 14839: 14836: 14835: 14828: 14827: 14820: 14813: 14805: 14796: 14795: 14793: 14788: 14783: 14778: 14773: 14768: 14763: 14760: 14759: 14755: 14754: 14749: 14739: 14734: 14728: 14727: 14726: 14724: 14718: 14717: 14715: 14714: 14707: 14702: 14697: 14692: 14687: 14682: 14677: 14672: 14667: 14662: 14657: 14652: 14647: 14642: 14637: 14632: 14627: 14622: 14617: 14612: 14607: 14602: 14597: 14592: 14587: 14582: 14577: 14572: 14567: 14562: 14557: 14552: 14547: 14542: 14537: 14532: 14527: 14522: 14517: 14512: 14507: 14502: 14497: 14492: 14487: 14482: 14477: 14472: 14467: 14462: 14457: 14452: 14447: 14442: 14437: 14432: 14427: 14422: 14417: 14412: 14407: 14402: 14397: 14392: 14387: 14382: 14377: 14371: 14369: 14363: 14360: 14359: 14357: 14356: 14351: 14346: 14341: 14336: 14331: 14326: 14325: 14324: 14314: 14313: 14312: 14302: 14297: 14292: 14291: 14290: 14280: 14275: 14270: 14269: 14268: 14267: 14266: 14256: 14251: 14236: 14231: 14226: 14221: 14216: 14211: 14206: 14201: 14196: 14194:Disequilibrium 14191: 14186: 14181: 14176: 14171: 14170: 14169: 14159: 14154: 14149: 14144: 14143: 14142: 14132: 14127: 14122: 14117: 14111: 14109: 14097: 14094: 14093: 14089: 14088: 14083: 14078: 14073: 14068: 14063: 14058: 14053: 14048: 14043: 14034: 14029: 14024: 14019: 14014: 14009: 14007:Organizational 14004: 13999: 13994: 13989: 13984: 13979: 13974: 13969: 13964: 13959: 13954: 13949: 13944: 13939: 13934: 13929: 13924: 13919: 13914: 13909: 13904: 13899: 13894: 13889: 13884: 13879: 13874: 13869: 13864: 13859: 13853: 13852: 13851: 13849: 13843: 13842: 13840: 13839: 13834: 13829: 13828: 13827: 13816: 13814: 13808: 13807: 13805: 13804: 13799: 13794: 13793: 13792: 13782: 13777: 13772: 13770:Macroeconomics 13767: 13766: 13765: 13760: 13755: 13750: 13745: 13738:Microeconomics 13734: 13732: 13726: 13725: 13718: 13717: 13710: 13703: 13695: 13688: 13687: 13674: 13661: 13652: 13640: 13627: 13609: 13591: 13575: 13573: 13570: 13568: 13567: 13555: 13543: 13531: 13526: 13513: 13511: 13508: 13506: 13505: 13488: 13476: 13466: 13449: 13433:Economics A–Z. 13430: 13412: 13399: 13397: 13394: 13390: 13389: 13383: 13382: 13371: 13370: 13368: 13367:External links 13365: 13364: 13363: 13347: 13338:Post, Louis F. 13335: 13330:978-1840648201 13329: 13316: 13311:978-0521316446 13310: 13294: 13288: 13268: 13262: 13247: 13244: 13243: 13242: 13229:978-0073511290 13228: 13206: 13165: 13162: 13160: 13159: 13133: 13084: 13061: 13042: 13018:Debreu, Gérard 13009: 13002: 12979: 12973:978-0674011212 12972: 12952: 12949:on 2 May 2005. 12924:10.1086/260265 12892: 12889: 12888: 12878:(1): 147–170. 12864: 12847:978-0674312265 12846: 12827: 12820: 12813: 12793: 12790: 12789: 12783: 12768: 12762: 12747: 12737:(3): 115–120. 12726: 12708:(3): 149–154. 12697: 12685:(3): 203–223. 12667: 12660: 12653: 12633: 12622:(3): 291–303. 12603: 12584: 12554: 12533:10.1086/466560 12505: 12502: 12501: 12495: 12477: 12459: 12430: 12423: 12420: 12419: 12413: 12395: 12369: 12362: 12359: 12358: 12332: 12307: 12302:978-0080430768 12301: 12278: 12260: 12234: 12227: 12208: 12178: 12159: 12126: 12099: 12093:978-1107017429 12092: 12064: 12058:978-0521855266 12057: 12029: 12016:10.1086/426881 12008:10.1086/426881 11986: 11954: 11930: 11901: 11882: 11875: 11853: 11830: 11816: 11796: 11773: 11766: 11743: 11715: 11674: 11670:Dwivedi (2005) 11662: 11658:Dwivedi (2005) 11650: 11631: 11601: 11594: 11571: 11552: 11519: 11494: 11487: 11462: 11459: 11458: 11440: 11412: 11405: 11398: 11396:, p. 349. 11386: 11367: 11337: 11318:(2): 365–371. 11297: 11295:, p. 345. 11285: 11262: 11259: 11258: 11252: 11234: 11203: 11196: 11194:, p. 347. 11184: 11165: 11132: 11101: 11072: 11043: 11028: 11016: 11009: 10980: 10946:(3): 488–500. 10923: 10905:Banking Crises 10894: 10865: 10836: 10817: 10802: 10730: 10696: 10693: 10692: 10686: 10661: 10654: 10647: 10628: 10598: 10579: 10542: 10539: 10538: 10520: 10495: 10481:. 5 May 2013. 10470: 10463: 10444: 10397: 10353: 10334: 10300: 10297: 10296: 10278: 10253: 10235: 10210: 10203: 10196: 10177: 10154: 10151: 10150: 10144: 10129: 10100: 10082: 10056: 10049: 10030: 10000: 9974:(5): 950–959. 9946: 9934: 9915: 9881: 9878: 9877: 9859: 9835:Varian, Hal R. 9831: 9824: 9817: 9782: 9779: 9778: 9739: 9691: 9684: 9681: 9680: 9662: 9634: 9616: 9590: 9583: 9573: 9544: 9525: 9505:"Econometrics" 9495: 9488: 9461: 9442: 9412: 9393: 9360: 9357: 9356: 9338:(5): 986–994. 9325: 9307: 9281: 9274: 9262: 9248: 9218: 9185: 9158: 9151: 9125: 9106: 9074: 9048: 9022: 9015: 8986: 8949: 8942: 8922: 8915: 8888: 8858: 8849: 8840: 8813:(1): 267–279. 8793: 8784: 8775: 8764:. 8 March 2018 8749: 8740: 8731: 8704: 8695: 8686: 8683: 8682: 8676: 8670: 8652: 8623: 8616: 8613: 8612: 8606: 8600: 8584: 8577: 8500: 8481: 8445: 8426: 8396: 8377:(2): 147–159. 8353: 8334: 8304: 8297: 8277: 8265: 8184: 8153: 8150: 8149: 8131: 8109:Mandel, Ernest 8105: 8087: 8058: 8051: 8039: 8022: 8003: 7970: 7967:. John Murray. 7953: 7946: 7916: 7899: 7887: 7875: 7863: 7851: 7801:10.1086/260508 7779: 7743:10.1086/257075 7737:(3): 185–193. 7711: 7677: 7675:, p. 343. 7665: 7658: 7632: 7625: 7605: 7602: 7601: 7595: 7580: 7555: 7548: 7541: 7521: 7486: 7483: 7482: 7476: 7456:"Mercantilism" 7451: 7444: 7437: 7417: 7410: 7388: 7369: 7339: 7309: 7300: 7273: 7253: 7250: 7249: 7231: 7216: 7210: 7186: 7179: 7156: 7149: 7129: 7095: 7092: 7091: 7073:(3): 301–313. 7059: 7023: 7013: 7009:Robbins (2007) 7001: 6997:Robbins (2007) 6986: 6979: 6959: 6935: 6916: 6891: 6888: 6887: 6869:(4): 165–172. 6858: 6844: 6825: 6818: 6798: 6779: 6736: 6715:(1): 221–233. 6688: 6669: 6636: 6613: 6582: 6575: 6555: 6488: 6473: 6453: 6417: 6405: 6373: 6351: 6323: 6271: 6268: 6267: 6262:978-0674036130 6261: 6243: 6225: 6207: 6161: 6151: 6132: 6125: 6122: 6121: 6104:978-0674235267 6103: 6085: 6073:978-0735563544 6072: 6053: 6046: 6028:978-0226242071 6027: 5992:(2): 131–148. 5969: 5950: 5927: 5886:The World Bank 5872: 5850: 5821: 5806: 5784: 5770:978-9350432471 5769: 5751: 5716: 5687:Sustainability 5673: 5658: 5640: 5633: 5613: 5594: 5575: 5555: 5549:978-1464128738 5548: 5527: 5497: 5462: 5460: 5457: 5454: 5453: 5445: 5394: 5370: 5368:, p. 17) 5357: 5344: 5331: 5313: 5312: 5310: 5307: 5305: 5304: 5299: 5297:Socioeconomics 5294: 5289: 5284: 5279: 5274: 5269: 5264: 5259: 5254: 5249: 5244: 5242:Economic union 5239: 5234: 5229: 5224: 5219: 5213: 5212: 5211: 5195: 5192: 5160:Claudia Goldin 5130:post-Keynesian 5106: 5103: 5087:linear algebra 5014:Main article: 5011: 5008: 4982:Peter Hedstrom 4938:Émile Durkheim 4911:thermodynamics 4879:have employed 4807:social science 4784: 4781: 4753:Main article: 4750: 4747: 4722:Labour markets 4706:Main article: 4703: 4700: 4692:exchange rates 4660:Main article: 4657: 4654: 4650:social welfare 4596:Main article: 4593: 4590: 4588: 4585: 4517:Main article: 4514: 4511: 4466: 4463: 4359:Main article: 4356: 4353: 4310:Main article: 4307: 4304: 4231:business cycle 4208:business cycle 4169:of the 1930s, 4160:business cycle 4132:Business cycle 4130:Main article: 4127: 4126:Business cycle 4124: 4061:Main article: 4058: 4055: 3968:Macroeconomics 3966:Main article: 3963: 3962:Macroeconomics 3960: 3943:. It analyses 3913:Main article: 3910: 3907: 3866:macroeconomics 3862:business cycle 3809:market failure 3803:sampling water 3754:Market failure 3752:Main article: 3749: 3748:Market failure 3746: 3738:bankruptcy law 3683:George Akerlof 3559:communications 3521: 3518: 3437: 3434: 3336:microeconomics 3332:market economy 3320: 3316: 3301:Main article: 3298: 3295: 3197:per worker or 3153: 3152:Specialisation 3150: 3123:business-cycle 3086:market economy 3039:beyond the PPF 2901: 2898: 2778:Microeconomics 2773: 2772:Microeconomics 2770: 2766:neuroeconomics 2661: 2658: 2640:Paul Samuelson 2608:new Keynesians 2572:microeconomics 2529:Macroeconomics 2525:Microeconomics 2520: 2517: 2515: 2512: 2457: 2456: 2437: 2423: 2405:, emphasizing 2350:Chicago school 2310:Main article: 2307: 2304: 2287: 2284: 2255:Main article: 2252: 2249: 2233:Gregory Mankiw 2225:George Akerlof 2213:Main article: 2210: 2209:New Keynesians 2207: 2199:Lucas critique 2187:Thomas Sargent 2171:Main article: 2168: 2165: 2145:Main article: 2142: 2139: 2133: 2130: 2118:Lawrence Klein 2092:developed the 2074:macroeconomics 2045:Main article: 2042: 2039: 1995:market failure 1993:, analysis of 1968:macroeconomics 1956:microeconomics 1904:Lionel Robbins 1888:Main article: 1885: 1882: 1874:(1871–1919)'s 1872:Rosa Luxemburg 1858:(1870–1924)'s 1856:Vladimir Lenin 1834:(1854–1938)'s 1782:Main article: 1779: 1776: 1634:Main article: 1631: 1628: 1561:Luis de Molina 1509: 1506: 1503: 1502: 1496:September 2020 1479: 1477: 1470: 1454: 1451: 1412:macroeconomics 1364:classificatory 1348:Lionel Robbins 1286:Thomas Carlyle 1203:Main article: 1198: 1195: 1110:; and between 1081:these elements 1037:Macroeconomics 1025:Microeconomics 994:social science 926: 925: 923: 922: 915: 908: 900: 897: 896: 895: 894: 882: 867: 866: 863: 862: 857: 847: 842: 836: 831: 830: 827: 826: 821: 820: 813: 808: 803: 798: 793: 788: 783: 778: 773: 768: 763: 758: 753: 748: 743: 738: 733: 728: 723: 718: 713: 708: 703: 698: 693: 688: 683: 678: 673: 668: 663: 658: 653: 648: 643: 638: 633: 628: 623: 618: 613: 608: 603: 598: 593: 588: 583: 578: 573: 568: 563: 558: 553: 548: 543: 538: 533: 528: 523: 518: 513: 508: 503: 498: 493: 488: 483: 477: 476: 475: 469: 468: 465: 464: 461: 460: 455: 450: 445: 440: 435: 430: 425: 420: 415: 406: 401: 396: 391: 386: 381: 379:Organizational 376: 371: 366: 361: 356: 351: 346: 341: 336: 331: 326: 321: 316: 311: 306: 301: 296: 291: 286: 281: 276: 271: 266: 261: 256: 251: 246: 241: 236: 231: 225: 223:By application 222: 221: 218: 217: 214: 213: 208: 203: 198: 193: 188: 183: 178: 173: 168: 162: 159: 158: 155: 154: 151: 150: 145: 140: 135: 130: 125: 116: 111: 106: 101: 95: 89: 88: 85: 84: 83: 82: 77: 72: 64: 63: 55: 54: 48: 47: 27:Social science 26: 9: 6: 4: 3: 2: 15525: 15514: 15511: 15509: 15506: 15505: 15503: 15496: 15486: 15485: 15480: 15476: 15474: 15469: 15464: 15462: 15461: 15452: 15450: 15449: 15440: 15439: 15436: 15430: 15427: 15425: 15424:Human science 15422: 15420: 15419: 15415: 15413: 15410: 15409: 15407: 15403: 15397: 15394: 15393: 15391: 15387: 15381: 15380:Vegan studies 15378: 15376: 15373: 15369: 15366: 15364: 15361: 15360: 15359: 15356: 15354: 15351: 15349: 15346: 15344: 15343:Public health 15341: 15339: 15336: 15334: 15331: 15329: 15326: 15322: 15319: 15317: 15314: 15312: 15309: 15308: 15306: 15302: 15299: 15297: 15294: 15292: 15289: 15287: 15284: 15282: 15279: 15278: 15277:Philosophies 15276: 15274: 15273:Media studies 15271: 15269: 15266: 15264: 15261: 15259: 15256: 15254: 15251: 15249: 15248:Human ecology 15246: 15244: 15241: 15239: 15236: 15234: 15231: 15229: 15226: 15224: 15221: 15217: 15214: 15212: 15209: 15208: 15206: 15204: 15201: 15199: 15196: 15194: 15191: 15189: 15186: 15184: 15181: 15179: 15176: 15174: 15171: 15169: 15166: 15164: 15161: 15159: 15158:Anthrozoology 15156: 15152: 15149: 15147: 15144: 15143: 15141: 15140: 15138: 15134: 15126: 15123: 15121: 15118: 15116: 15113: 15111: 15108: 15106: 15103: 15102: 15101: 15098: 15094: 15091: 15089: 15086: 15084: 15083:developmental 15081: 15079: 15076: 15074: 15071: 15070: 15069: 15066: 15062: 15059: 15057: 15056:public policy 15054: 15052: 15049: 15047: 15044: 15042: 15039: 15038: 15037: 15034: 15030: 15027: 15026: 15025: 15022: 15018: 15015: 15013: 15010: 15008: 15007:legal systems 15005: 15003: 15002:legal history 15000: 14998: 14997:jurisprudence 14995: 14994: 14993: 14990: 14986: 14983: 14981: 14978: 14976: 14973: 14971: 14968: 14966: 14963: 14961: 14958: 14956: 14953: 14952: 14951: 14948: 14944: 14941: 14939: 14936: 14934: 14931: 14929: 14926: 14925: 14924: 14921: 14917: 14914: 14912: 14909: 14907: 14904: 14902: 14899: 14898: 14897: 14894: 14890: 14887: 14885: 14882: 14880: 14877: 14875: 14872: 14871: 14870: 14867: 14866: 14864: 14860: 14854: 14851: 14849: 14846: 14844: 14841: 14840: 14837: 14833: 14826: 14821: 14819: 14814: 14812: 14807: 14806: 14803: 14792: 14789: 14787: 14784: 14782: 14779: 14777: 14774: 14772: 14769: 14767: 14764: 14761: 14753: 14750: 14747: 14743: 14740: 14738: 14735: 14733: 14730: 14729: 14725: 14723: 14719: 14713: 14712: 14708: 14706: 14703: 14701: 14698: 14696: 14693: 14691: 14688: 14686: 14683: 14681: 14678: 14676: 14673: 14671: 14668: 14666: 14663: 14661: 14658: 14656: 14653: 14651: 14648: 14646: 14643: 14641: 14638: 14636: 14633: 14631: 14628: 14626: 14623: 14621: 14618: 14616: 14613: 14611: 14608: 14606: 14603: 14601: 14598: 14596: 14593: 14591: 14588: 14586: 14583: 14581: 14578: 14576: 14573: 14571: 14568: 14566: 14563: 14561: 14558: 14556: 14553: 14551: 14548: 14546: 14543: 14541: 14538: 14536: 14533: 14531: 14528: 14526: 14523: 14521: 14518: 14516: 14513: 14511: 14508: 14506: 14503: 14501: 14498: 14496: 14493: 14491: 14488: 14486: 14483: 14481: 14478: 14476: 14473: 14471: 14468: 14466: 14463: 14461: 14458: 14456: 14453: 14451: 14448: 14446: 14443: 14441: 14438: 14436: 14433: 14431: 14428: 14426: 14423: 14421: 14418: 14416: 14413: 14411: 14408: 14406: 14403: 14401: 14398: 14396: 14393: 14391: 14388: 14386: 14383: 14381: 14378: 14376: 14375:de Mandeville 14373: 14372: 14370: 14366: 14361: 14355: 14352: 14350: 14347: 14345: 14342: 14340: 14337: 14335: 14332: 14330: 14327: 14323: 14320: 14319: 14318: 14317:New classical 14315: 14311: 14308: 14307: 14306: 14303: 14301: 14298: 14296: 14293: 14289: 14286: 14285: 14284: 14281: 14279: 14276: 14274: 14273:Malthusianism 14271: 14265: 14262: 14261: 14260: 14257: 14255: 14252: 14249: 14245: 14242: 14241: 14240: 14237: 14235: 14234:Institutional 14232: 14230: 14227: 14225: 14222: 14220: 14217: 14215: 14212: 14210: 14207: 14205: 14202: 14200: 14197: 14195: 14192: 14190: 14187: 14185: 14182: 14180: 14177: 14175: 14172: 14168: 14165: 14164: 14163: 14160: 14158: 14155: 14153: 14150: 14148: 14145: 14141: 14138: 14137: 14136: 14133: 14131: 14128: 14126: 14123: 14121: 14118: 14116: 14113: 14112: 14110: 14105: 14100: 14095: 14087: 14084: 14082: 14079: 14077: 14074: 14072: 14069: 14067: 14064: 14062: 14059: 14057: 14054: 14052: 14049: 14047: 14044: 14042: 14038: 14037:Public choice 14035: 14033: 14030: 14028: 14025: 14023: 14020: 14018: 14015: 14013: 14012:Participation 14010: 14008: 14005: 14003: 14000: 13998: 13995: 13993: 13990: 13988: 13985: 13983: 13980: 13978: 13975: 13973: 13972:Institutional 13970: 13968: 13965: 13963: 13960: 13958: 13955: 13953: 13950: 13948: 13945: 13943: 13940: 13938: 13935: 13933: 13930: 13928: 13925: 13923: 13922:Expeditionary 13920: 13918: 13915: 13913: 13912:Environmental 13910: 13908: 13905: 13903: 13900: 13898: 13895: 13893: 13890: 13888: 13885: 13883: 13880: 13878: 13875: 13873: 13870: 13868: 13865: 13863: 13860: 13858: 13855: 13854: 13850: 13848: 13844: 13838: 13835: 13833: 13830: 13826: 13823: 13822: 13821: 13818: 13817: 13815: 13813: 13809: 13803: 13800: 13798: 13795: 13791: 13788: 13787: 13786: 13783: 13781: 13778: 13776: 13773: 13771: 13768: 13764: 13761: 13759: 13756: 13754: 13751: 13749: 13746: 13744: 13741: 13740: 13739: 13736: 13735: 13733: 13731: 13727: 13723: 13716: 13711: 13709: 13704: 13702: 13697: 13696: 13693: 13685: 13681: 13678: 13675: 13672: 13668: 13665: 13662: 13660: 13656: 13653: 13651: 13647: 13644: 13641: 13634: 13630: 13624: 13617: 13616: 13610: 13598: 13594: 13588: 13584: 13583: 13577: 13576: 13566: 13562: 13559: 13556: 13554: 13550: 13547: 13544: 13542: 13538: 13535: 13532: 13530: 13527: 13525: 13521: 13518: 13515: 13514: 13503: 13499: 13495: 13492: 13489: 13487: 13483: 13480: 13477: 13474: 13470: 13467: 13464: 13460: 13456: 13453: 13450: 13447: 13446: 13445:The Economist 13441: 13437: 13434: 13431: 13429: 13428: 13423: 13419: 13416: 13413: 13411: 13407: 13404: 13401: 13400: 13388: 13385: 13384: 13379: 13374: 13362: 13358: 13357: 13348: 13345: 13344: 13339: 13336: 13332: 13326: 13322: 13317: 13313: 13307: 13303: 13299: 13295: 13291: 13285: 13281: 13277: 13273: 13269: 13265: 13259: 13255: 13250: 13249: 13239: 13235: 13231: 13225: 13221: 13220: 13215: 13211: 13207: 13203: 13199: 13195: 13191: 13186: 13181: 13177: 13173: 13168: 13167: 13148: 13144: 13137: 13122: 13118: 13114: 13110: 13106: 13102: 13095: 13088: 13080: 13076: 13072: 13065: 13049: 13045: 13039: 13035: 13031: 13027: 13023: 13019: 13013: 13005: 12999: 12995: 12994: 12989: 12983: 12975: 12969: 12965: 12964: 12956: 12945: 12941: 12937: 12933: 12929: 12925: 12921: 12917: 12913: 12906: 12902: 12896: 12885: 12881: 12877: 12873: 12869: 12865: 12853: 12849: 12843: 12839: 12838: 12833: 12829: 12828: 12824: 12816: 12810: 12806: 12805: 12797: 12786: 12780: 12777:. Routledge. 12776: 12775: 12769: 12765: 12759: 12755: 12754: 12748: 12744: 12740: 12736: 12732: 12727: 12723: 12719: 12715: 12711: 12707: 12703: 12698: 12693: 12688: 12684: 12680: 12679: 12674: 12669: 12668: 12664: 12656: 12650: 12646: 12645: 12637: 12629: 12625: 12621: 12617: 12613: 12607: 12591: 12587: 12581: 12577: 12573: 12569: 12565: 12558: 12550: 12546: 12542: 12538: 12534: 12530: 12526: 12522: 12521: 12516: 12509: 12498: 12492: 12488: 12487: 12482: 12478: 12466: 12462: 12456: 12452: 12448: 12444: 12440: 12436: 12432: 12431: 12427: 12418:, p. 351 12417: 12414: 12402: 12398: 12392: 12388: 12384: 12380: 12376: 12371: 12370: 12366: 12347: 12343: 12339: 12335: 12329: 12325: 12321: 12317: 12313: 12308: 12304: 12298: 12294: 12290: 12287:: 7843–7848. 12286: 12285: 12279: 12267: 12263: 12257: 12253: 12249: 12245: 12241: 12236: 12235: 12231: 12215: 12211: 12205: 12201: 12197: 12193: 12189: 12182: 12166: 12162: 12156: 12152: 12148: 12144: 12140: 12136: 12130: 12122: 12118: 12114: 12110: 12103: 12095: 12089: 12085: 12081: 12077: 12076: 12068: 12060: 12054: 12050: 12046: 12042: 12041: 12033: 12025: 12021: 12017: 12013: 12009: 12005: 12002:(1): 93–123. 12001: 11997: 11990: 11975: 11971: 11965: 11963: 11961: 11959: 11951: 11947: 11943: 11940: 11934: 11925: 11920: 11916: 11912: 11905: 11897: 11893: 11886: 11878: 11872: 11865: 11864: 11857: 11841: 11834: 11819: 11813: 11809: 11808: 11800: 11784: 11777: 11769: 11763: 11759: 11758: 11753: 11747: 11731: 11730: 11725: 11719: 11700: 11696: 11692: 11685: 11678: 11671: 11666: 11659: 11654: 11638: 11634: 11628: 11624: 11620: 11616: 11612: 11605: 11597: 11591: 11587: 11586: 11578: 11576: 11559: 11555: 11549: 11545: 11541: 11537: 11533: 11529: 11523: 11512: 11505: 11498: 11490: 11484: 11480: 11476: 11472: 11466: 11447: 11443: 11437: 11433: 11429: 11425: 11421: 11417: 11413: 11410: 11407: 11406: 11402: 11395: 11390: 11374: 11370: 11364: 11360: 11356: 11352: 11348: 11341: 11333: 11329: 11325: 11321: 11317: 11313: 11312: 11307: 11306:Ng, Yew-Kwang 11301: 11294: 11289: 11281: 11277: 11273: 11266: 11256: 11253: 11241: 11237: 11231: 11226: 11221: 11217: 11213: 11209: 11205: 11204: 11200: 11193: 11188: 11172: 11168: 11162: 11158: 11154: 11150: 11146: 11142: 11141:Laffont, J.J. 11136: 11120: 11116: 11115: 11111: 11105: 11089: 11085: 11084: 11080:Kotowitz, Y. 11076: 11060: 11056: 11055: 11047: 11039: 11032: 11025: 11020: 11012: 11006: 11002: 10998: 10994: 10987: 10985: 10973: 10969: 10965: 10961: 10957: 10953: 10949: 10945: 10941: 10934: 10927: 10911: 10907: 10906: 10898: 10882: 10878: 10877: 10869: 10853: 10849: 10848: 10840: 10832: 10831: 10827: 10821: 10813: 10806: 10787: 10783: 10779: 10775: 10771: 10767: 10763: 10760:(1): 87–114. 10759: 10755: 10748: 10744: 10743:Gertler, Mark 10740: 10739:Bernanke, Ben 10734: 10718: 10714: 10710: 10709:"Game Theory" 10706: 10700: 10689: 10683: 10679: 10678: 10670: 10666: 10662: 10659: 10656: 10655: 10651: 10635: 10631: 10625: 10621: 10617: 10613: 10609: 10608:"Uncertainty" 10602: 10586: 10582: 10576: 10572: 10568: 10564: 10560: 10556: 10552: 10546: 10527: 10523: 10517: 10513: 10509: 10505: 10501: 10496: 10484: 10480: 10476: 10472: 10471: 10467: 10451: 10447: 10441: 10436: 10431: 10427: 10423: 10419: 10415: 10411: 10407: 10401: 10393: 10389: 10385: 10381: 10377: 10373: 10372: 10367: 10363: 10362:Coase, Ronald 10357: 10341: 10337: 10331: 10327: 10323: 10319: 10315: 10311: 10304: 10285: 10281: 10275: 10271: 10267: 10263: 10259: 10254: 10242: 10238: 10232: 10228: 10224: 10220: 10216: 10211: 10208: 10205: 10204: 10200: 10184: 10180: 10174: 10170: 10169: 10164: 10158: 10147: 10141: 10137: 10136: 10130: 10118: 10114: 10110: 10106: 10101: 10089: 10085: 10079: 10075: 10071: 10067: 10063: 10058: 10057: 10053: 10037: 10033: 10027: 10023: 10019: 10015: 10011: 10004: 9985: 9981: 9977: 9973: 9969: 9968: 9960: 9956: 9955:Krugman, Paul 9950: 9943: 9938: 9922: 9918: 9912: 9908: 9904: 9900: 9896: 9892: 9885: 9866: 9862: 9856: 9852: 9848: 9844: 9840: 9836: 9832: 9829: 9826: 9825: 9821: 9813: 9809: 9805: 9801: 9798:(1): 99–146. 9797: 9793: 9786: 9775: 9771: 9767: 9763: 9759: 9755: 9751: 9747: 9746: 9740: 9736: 9732: 9728: 9724: 9720: 9716: 9712: 9708: 9704: 9700: 9699: 9693: 9692: 9688: 9669: 9665: 9659: 9655: 9651: 9647: 9643: 9639: 9635: 9623: 9619: 9613: 9609: 9605: 9601: 9597: 9592: 9591: 9587: 9580: 9576: 9570: 9566: 9561: 9560: 9554: 9548: 9532: 9528: 9522: 9518: 9514: 9510: 9506: 9499: 9491: 9485: 9481: 9477: 9476: 9471: 9465: 9449: 9445: 9439: 9435: 9431: 9427: 9423: 9416: 9400: 9396: 9390: 9386: 9382: 9378: 9374: 9367: 9365: 9353: 9349: 9345: 9341: 9337: 9333: 9332: 9326: 9314: 9310: 9304: 9300: 9296: 9292: 9288: 9287:"Methodology" 9283: 9282: 9278: 9272:, p. 10. 9271: 9270:Friedman 1953 9266: 9251: 9245: 9241: 9237: 9233: 9229: 9222: 9206: 9202: 9201: 9196: 9189: 9173: 9169: 9162: 9154: 9148: 9144: 9140: 9136: 9129: 9113: 9109: 9103: 9099: 9095: 9091: 9090: 9085: 9078: 9062: 9058: 9052: 9036: 9032: 9026: 9018: 9012: 9008: 9004: 9000: 8993: 8991: 8971: 8967: 8960: 8953: 8945: 8939: 8935: 8934: 8926: 8918: 8912: 8908: 8904: 8903: 8898: 8892: 8876: 8869: 8862: 8853: 8844: 8836: 8832: 8828: 8824: 8820: 8816: 8812: 8808: 8804: 8797: 8788: 8779: 8763: 8759: 8753: 8744: 8735: 8719: 8715: 8708: 8699: 8690: 8681:, p. 346 8680: 8677: 8674: 8671: 8659: 8655: 8649: 8644: 8639: 8635: 8634: 8629: 8625: 8624: 8620: 8611:, p. 347 8610: 8607: 8603: 8597: 8593: 8592: 8586: 8585: 8581: 8562: 8558: 8554: 8550: 8546: 8542: 8538: 8533: 8528: 8524: 8520: 8519: 8511: 8504: 8488: 8484: 8478: 8474: 8470: 8466: 8462: 8458: 8452: 8450: 8433: 8429: 8423: 8419: 8415: 8411: 8407: 8400: 8392: 8388: 8384: 8380: 8376: 8372: 8368: 8362: 8360: 8358: 8341: 8337: 8331: 8327: 8323: 8319: 8315: 8308: 8300: 8294: 8290: 8289: 8281: 8274: 8269: 8261: 8257: 8253: 8249: 8244: 8239: 8235: 8231: 8227: 8208: 8204: 8197: 8196: 8188: 8172: 8168: 8164: 8157: 8138: 8134: 8128: 8124: 8120: 8116: 8115: 8110: 8106: 8094: 8090: 8084: 8080: 8076: 8072: 8068: 8064: 8063:Roemer, J. E. 8060: 8059: 8055: 8048: 8043: 8035: 8034: 8026: 8010: 8006: 8000: 7996: 7992: 7988: 7984: 7980: 7974: 7966: 7965: 7957: 7949: 7943: 7939: 7938: 7929: 7928: 7920: 7912: 7911: 7903: 7896: 7891: 7884: 7879: 7872: 7867: 7860: 7855: 7836: 7832: 7825: 7818: 7814: 7810: 7806: 7802: 7798: 7794: 7790: 7783: 7764: 7760: 7756: 7752: 7748: 7744: 7740: 7736: 7732: 7725: 7722:(June 1951). 7721: 7715: 7699: 7695: 7691: 7687: 7681: 7674: 7669: 7661: 7655: 7651: 7646: 7645: 7636: 7628: 7622: 7618: 7617: 7609: 7598: 7592: 7588: 7587: 7581: 7569: 7565: 7561: 7557: 7556: 7552: 7544: 7542:9782051029391 7538: 7534: 7533: 7525: 7509: 7505: 7501: 7497: 7490: 7481:, p. 343 7480: 7477: 7465: 7461: 7457: 7453: 7452: 7448: 7440: 7434: 7430: 7429: 7421: 7413: 7407: 7403: 7400:(in German). 7399: 7392: 7376: 7372: 7366: 7362: 7358: 7354: 7350: 7343: 7327: 7323: 7319: 7313: 7304: 7288: 7284: 7280: 7276: 7274:0-14-026042-0 7270: 7266: 7265: 7257: 7238: 7234: 7228: 7224: 7223: 7217: 7213: 7207: 7203: 7199: 7195: 7194: 7188: 7187: 7183: 7175: 7171: 7167: 7160: 7152: 7146: 7142: 7141: 7133: 7117: 7113: 7109: 7105: 7099: 7088: 7084: 7080: 7076: 7072: 7068: 7064: 7060: 7056: 7052: 7047: 7042: 7038: 7034: 7030: 7025: 7024: 7020: 7018: 7010: 7005: 6999:, p. 16. 6998: 6993: 6991: 6982: 6976: 6972: 6971: 6963: 6955: 6951: 6950: 6945: 6939: 6923: 6919: 6913: 6909: 6905: 6901: 6895: 6884: 6880: 6876: 6872: 6868: 6864: 6859: 6855: 6854: 6849: 6845: 6841: 6840: 6835: 6831: 6827: 6826: 6822: 6814: 6813: 6808: 6802: 6786: 6782: 6776: 6772: 6768: 6764: 6760: 6752: 6751: 6746: 6740: 6732: 6728: 6723: 6718: 6714: 6710: 6709: 6704: 6697: 6695: 6693: 6676: 6672: 6666: 6662: 6658: 6654: 6650: 6646: 6640: 6632: 6631: 6626: 6620: 6618: 6609: 6605: 6604: 6599: 6595: 6589: 6587: 6578: 6572: 6568: 6567: 6559: 6543: 6539: 6535: 6531: 6526: 6524: 6516: 6511:"house") and 6510: 6508: 6500: 6492: 6484: 6480: 6476: 6474:0-14-026042-0 6470: 6466: 6465: 6457: 6438: 6434: 6427: 6421: 6412: 6408: 6402: 6398: 6394: 6390: 6389: 6384: 6377: 6358: 6354: 6348: 6344: 6337: 6333: 6327: 6308: 6304: 6300: 6296: 6292: 6285: 6281: 6275: 6264: 6258: 6254: 6253: 6248: 6244: 6232: 6228: 6226:0-684-86214-X 6222: 6218: 6217: 6212: 6208: 6193: 6189: 6185: 6181: 6177: 6170: 6166: 6162: 6159: 6154: 6148: 6144: 6143: 6138: 6134: 6133: 6129: 6110: 6106: 6100: 6096: 6095: 6090: 6086: 6075: 6069: 6065: 6064: 6059: 6055: 6054: 6050: 6034: 6030: 6024: 6020: 6019: 6003: 5999: 5995: 5991: 5987: 5983: 5979: 5973: 5957: 5953: 5951:0-674-90698-5 5947: 5943: 5942: 5937: 5931: 5915: 5911: 5907: 5903: 5899: 5895: 5891: 5887: 5883: 5876: 5857: 5853: 5851:0-87014-263-1 5847: 5843: 5839: 5832: 5825: 5817: 5813: 5809: 5803: 5799: 5795: 5788: 5780: 5776: 5772: 5766: 5762: 5755: 5747: 5743: 5739: 5735: 5731: 5727: 5726:Health Policy 5720: 5711: 5710:11250/2978306 5706: 5701: 5696: 5693:(24): 13677. 5692: 5688: 5684: 5677: 5669: 5665: 5661: 5659:0-534-37955-9 5655: 5651: 5644: 5636: 5630: 5626: 5625: 5617: 5609: 5605: 5598: 5591: 5586: 5582: 5578: 5576:0-14-026042-0 5572: 5568: 5567: 5559: 5551: 5545: 5541: 5537: 5536:Krugman, Paul 5531: 5515: 5511: 5507: 5501: 5493: 5485: 5481: 5480: 5474: 5467: 5463: 5448: 5442: 5438: 5434: 5429: 5428:macroeconomic 5425: 5421: 5420:externalities 5417: 5413: 5409: 5405: 5397: 5391: 5387: 5386: 5380: 5379:Nicholas Barr 5377:Compare with 5374: 5367: 5361: 5355:, p. 5) 5354: 5348: 5341: 5335: 5328: 5324: 5323:fixed capital 5318: 5314: 5303: 5300: 5298: 5295: 5293: 5290: 5288: 5285: 5283: 5280: 5278: 5275: 5273: 5270: 5268: 5265: 5263: 5260: 5258: 5255: 5253: 5250: 5248: 5245: 5243: 5240: 5238: 5235: 5233: 5230: 5228: 5225: 5223: 5220: 5218: 5215: 5214: 5209: 5203: 5198: 5191: 5189: 5183: 5181: 5177: 5173: 5169: 5165: 5161: 5157: 5153: 5152:Elinor Ostrom 5149: 5145: 5141: 5140: 5135: 5134:Anna Schwartz 5131: 5127: 5126:Joan Robinson 5123: 5119: 5115: 5111: 5102: 5100: 5096: 5092: 5088: 5084: 5079: 5077: 5073: 5068: 5066: 5062: 5058: 5054: 5050: 5046: 5041: 5039: 5035: 5031: 5027: 5023: 5017: 5007: 5005: 5001: 4997: 4993: 4989: 4987: 4983: 4979: 4975: 4971: 4970: 4965: 4961: 4960: 4955: 4951: 4947: 4943: 4939: 4935: 4931: 4926: 4924: 4920: 4916: 4912: 4908: 4904: 4900: 4899:energy demand 4896: 4895:energy supply 4892: 4888: 4884: 4882: 4878: 4874: 4873:externalities 4870: 4866: 4862: 4858: 4854: 4852: 4851:externalities 4848: 4844: 4838: 4836: 4832: 4828: 4824: 4820: 4819:public choice 4816: 4812: 4808: 4802: 4798: 4794: 4790: 4780: 4778: 4774: 4770: 4766: 4762: 4756: 4746: 4744: 4743:human capital 4740: 4736: 4732: 4728: 4723: 4719: 4715: 4709: 4699: 4697: 4696:globalisation 4693: 4689: 4685: 4681: 4673: 4668: 4663: 4653: 4651: 4647: 4643: 4639: 4638:microeconomic 4634: 4632: 4628: 4623: 4621: 4617: 4613: 4609: 4608:tax incidence 4605: 4604:public sector 4599: 4584: 4581: 4577: 4576:human capital 4573: 4568: 4566: 4562: 4558: 4554: 4550: 4546: 4542: 4541:human capital 4538: 4534: 4530: 4526: 4520: 4510: 4508: 4503: 4501: 4496: 4494: 4489: 4487: 4480: 4476: 4472: 4471:Fiscal policy 4465:Fiscal policy 4462: 4460: 4456: 4452: 4448: 4444: 4440: 4436: 4432: 4428: 4423: 4421: 4417: 4413: 4409: 4404: 4402: 4398: 4394: 4389: 4385: 4381: 4377: 4372: 4368: 4362: 4352: 4350: 4345: 4342: 4338: 4334: 4332: 4323: 4318: 4313: 4303: 4299: 4297: 4293: 4289: 4288:new Keynesian 4284: 4282: 4278: 4274: 4270: 4266: 4262: 4258: 4254: 4252: 4248: 4244: 4240: 4236: 4232: 4227: 4225: 4221: 4217: 4213: 4209: 4205: 4204:fiscal policy 4201: 4197: 4193: 4192:public sector 4188: 4186: 4182: 4178: 4177: 4172: 4168: 4161: 4156: 4151: 4147: 4143: 4139: 4133: 4123: 4121: 4117: 4113: 4109: 4105: 4101: 4096: 4094: 4090: 4087: 4083: 4079: 4078: 4073: 4069: 4064: 4054: 4052: 4048: 4044: 4039: 4037: 4033: 4032:efficient use 4029: 4025: 4020: 4018: 4017:fiscal policy 4014: 4010: 4006: 4002: 3998: 3990: 3986: 3982: 3978: 3974: 3969: 3959: 3957: 3953: 3949: 3948: 3942: 3938: 3934: 3930: 3926: 3922: 3916: 3906: 3904: 3903:emission fees 3900: 3896: 3892: 3890: 3886: 3882: 3877: 3875: 3871: 3867: 3863: 3859: 3854: 3852: 3847: 3846:Externalities 3843: 3840: 3836: 3834: 3830: 3826: 3822: 3820: 3816: 3812: 3810: 3802: 3797: 3790: 3786: 3782: 3777: 3773: 3769: 3765: 3761: 3755: 3745: 3743: 3739: 3735: 3734:restructuring 3731: 3727: 3723: 3719: 3715: 3711: 3706: 3704: 3700: 3696: 3692: 3688: 3684: 3679: 3677: 3673: 3669: 3665: 3661: 3657: 3653: 3649: 3645: 3641: 3640:Risk aversion 3637: 3635: 3631: 3627: 3623: 3619: 3615: 3611: 3610: 3605: 3600: 3598: 3594: 3590: 3586: 3582: 3578: 3574: 3570: 3566: 3562: 3560: 3556: 3552: 3548: 3544: 3540: 3535: 3531: 3527: 3517: 3515: 3511: 3507: 3503: 3502:microeconomic 3499: 3495: 3492: 3488: 3483: 3481: 3477: 3473: 3469: 3465: 3461: 3455: 3451: 3447: 3443: 3433: 3430: 3425: 3421: 3417: 3415: 3410: 3406: 3404: 3400: 3399:income effect 3396: 3392: 3388: 3384: 3383:law of demand 3379: 3377: 3373: 3369: 3365: 3361: 3360:Demand theory 3356: 3352: 3347: 3345: 3341: 3337: 3333: 3329: 3314: 3309: 3304: 3294: 3292: 3288: 3284: 3280: 3276: 3272: 3268: 3263: 3259: 3257: 3253: 3249: 3248: 3243: 3239: 3234: 3232: 3231:agglomeration 3228: 3222: 3219: 3214: 3212: 3208: 3204: 3200: 3196: 3195:human capital 3192: 3188: 3181: 3177: 3172: 3167: 3163: 3159: 3149: 3146: 3145:public policy 3142: 3137: 3135: 3132:(also called 3131: 3127: 3124: 3120: 3116: 3112: 3108: 3104: 3100: 3099: 3093: 3091: 3087: 3083: 3079: 3075: 3074:Along the PPF 3071: 3067: 3063: 3058: 3056: 3052: 3048: 3044: 3040: 3036: 3032: 3030: 3025: 3021: 3016: 3014: 3010: 3006: 3002: 3000: 2996: 2992: 2988: 2984: 2979: 2977: 2973: 2972:private goods 2969: 2965: 2961: 2957: 2953: 2949: 2945: 2941: 2937: 2929: 2924: 2919: 2915: 2911: 2907: 2897: 2895: 2891: 2887: 2882: 2880: 2876: 2872: 2868: 2864: 2859: 2857: 2853: 2849: 2844: 2842: 2838: 2834: 2830: 2829:market system 2826: 2822: 2815: 2811: 2807: 2803: 2799: 2793: 2788: 2783: 2779: 2769: 2767: 2763: 2759: 2755: 2751: 2747: 2742: 2740: 2736: 2733: 2729: 2725: 2723: 2719: 2715: 2711: 2707: 2703: 2701: 2697: 2693: 2689: 2685: 2684:economic data 2681: 2677: 2671: 2667: 2657: 2655: 2651: 2647: 2646: 2641: 2637: 2633: 2628: 2626: 2622: 2621: 2615: 2613: 2609: 2605: 2604:macroeconomic 2601: 2597: 2593: 2589: 2585: 2581: 2577: 2573: 2568: 2566: 2562: 2558: 2554: 2550: 2543: 2541: 2534: 2530: 2526: 2511: 2508: 2504: 2502: 2498: 2494: 2493:econodynamics 2490: 2486: 2482: 2478: 2474: 2470: 2466: 2462: 2454: 2450: 2445: 2441: 2438: 2435: 2434:Joan Robinson 2431: 2427: 2424: 2421: 2417: 2412: 2408: 2404: 2401: 2400: 2399: 2397: 2393: 2388: 2386: 2382: 2378: 2374: 2370: 2366: 2362: 2358: 2353: 2351: 2347: 2343: 2339: 2335: 2331: 2327: 2323: 2319: 2313: 2303: 2301: 2300:heterogeneity 2297: 2293: 2283: 2280: 2276: 2271: 2267: 2266: 2258: 2248: 2246: 2242: 2238: 2234: 2230: 2226: 2222: 2216: 2206: 2204: 2200: 2196: 2192: 2188: 2184: 2180: 2174: 2164: 2160: 2158: 2154: 2148: 2138: 2129: 2127: 2123: 2119: 2115: 2111: 2107: 2103: 2099: 2095: 2091: 2087: 2082: 2080: 2075: 2071: 2070: 2065: 2057: 2053: 2048: 2038: 2036: 2031: 2027: 2026:organisations 2023: 2019: 2014: 2012: 2008: 2004: 2000: 1996: 1992: 1988: 1984: 1980: 1975: 1973: 1969: 1965: 1961: 1957: 1952: 1950: 1945: 1941: 1937: 1932: 1930: 1926: 1922: 1918: 1913: 1911: 1910: 1905: 1901: 1897: 1891: 1881: 1879: 1878: 1873: 1869: 1868: 1863: 1862: 1857: 1853: 1852: 1847: 1843: 1842: 1837: 1833: 1828: 1826: 1822: 1817: 1816: 1810: 1802: 1798: 1795: 1790: 1785: 1775: 1773: 1769: 1763: 1761: 1756: 1754: 1750: 1746: 1742: 1741:David Ricardo 1737: 1735: 1731: 1727: 1723: 1720: 1714: 1709: 1705: 1703: 1699: 1695: 1691: 1687: 1683: 1679: 1675: 1670: 1667: 1666: 1661: 1653: 1652: 1647: 1642: 1637: 1627: 1625: 1621: 1619: 1618: 1617:laissez-faire 1612: 1611:circular flow 1608: 1604: 1602: 1597: 1593: 1589: 1584: 1583:perspective. 1582: 1578: 1574: 1570: 1566: 1562: 1558: 1554: 1550: 1546: 1542: 1538: 1534: 1530: 1526: 1519: 1514: 1499: 1489: 1483: 1480:This section 1478: 1474: 1469: 1468: 1464: 1460: 1450: 1447: 1446:Ha-Joon Chang 1443: 1439: 1434: 1431: 1427: 1423: 1419: 1415: 1413: 1409: 1405: 1399: 1397: 1393: 1389: 1385: 1381: 1377: 1373: 1369: 1365: 1359: 1357: 1351: 1349: 1344: 1339: 1337: 1336:microeconomic 1333: 1330:and from the 1329: 1325: 1324: 1319: 1314: 1309: 1307: 1303: 1299: 1295: 1291: 1287: 1283: 1279: 1275: 1271: 1270:public-policy 1267: 1262: 1258: 1256: 1252: 1248: 1244: 1239: 1237: 1233: 1223: 1217: 1212: 1211:Ancient Greek 1206: 1201: 1194: 1192: 1188: 1184: 1180: 1176: 1172: 1168: 1164: 1160: 1156: 1152: 1148: 1144: 1140: 1136: 1132: 1131:cybersecurity 1128: 1124: 1119: 1117: 1113: 1109: 1105: 1101: 1097: 1093: 1088: 1086: 1082: 1078: 1074: 1070: 1066: 1062: 1058: 1054: 1050: 1046: 1042: 1038: 1034: 1030: 1026: 1022: 1018: 1013: 1011: 1007: 1003: 999: 995: 989: 932: 921: 916: 914: 909: 907: 902: 901: 899: 898: 893: 883: 881: 876: 871: 870: 869: 868: 861: 858: 855: 851: 848: 846: 843: 841: 838: 837: 834: 829: 828: 819: 818: 814: 812: 809: 807: 804: 802: 799: 797: 794: 792: 789: 787: 784: 782: 779: 777: 774: 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Via the 4365:See also: 4349:Okun's law 4216:John Hicks 4136:See also: 4116:endogenous 4100:investment 4086:per capita 4084:of output 4077:per capita 3987:, such as 3950:, however 3935:within an 3925:allocation 3921:well-being 3807:The term " 3758:See also: 3742:regulation 3676:regulation 3658:or simply 3585:bargaining 3577:foundation 3555:instrument 3364:rationally 3275:by-product 3211:relatively 3009:technology 2936:production 2879:oligopsony 2833:regulation 2762:heuristics 2598:, and the 2392:mainstream 2373:monetarism 2352:approach. 2290:After the 2147:Monetarism 2141:Monetarism 2126:US economy 2110:investment 2086:John Hicks 2022:households 2001:, and the 1660:Adam Smith 1646:Adam Smith 1624:Adam Smith 1553:scholastic 1406:modelling 1372:analytical 1251:Adam Smith 1238:or state. 1167:philosophy 1143:government 1102:; between 1065:enterprise 1051:, such as 998:production 845:Economists 716:Schumacher 621:Schumpeter 591:von Wieser 511:von Thünen 472:economists 448:Statistics 443:Solidarity 364:Managerial 329:Humanistic 324:Historical 269:Ecological 234:Behavioral 128:Mainstream 15508:Economics 15307:Planning 15286:economics 15203:Education 15100:Sociology 15078:cognitive 15029:semiotics 14980:political 14938:technical 14923:Geography 14896:Economics 14655:Greenspan 14620:Samuelson 14600:Galbraith 14570:Tinbergen 14510:von Mises 14505:Heckscher 14465:Edgeworth 14344:Stockholm 14339:Socialist 14239:Keynesian 14219:Happiness 14179:Classical 14140:Mutualism 14135:Anarchist 14120:Heterodox 14017:Personnel 13977:Knowledge 13942:Happiness 13932:Financial 13902:Education 13877:Democracy 13812:Empirical 13722:Economics 13659:Wikibooks 13415:Economics 13378:Economics 13356:Economics 13238:751033918 13219:Economics 13202:216137286 13180:CiteSeerX 13152:30 August 13126:30 August 13121:251532686 13107:: 17–41. 12596:4 October 12549:222331226 12342:219381371 12024:154993058 11416:Uzawa, H. 11324:0002-8282 10782:155048192 10371:Economica 10247:16 August 10094:16 August 10042:16 August 9993:16 August 9927:4 October 9871:4 October 9472:(1983) . 9344:0002-8282 8979:31 August 8827:1945-7707 8527:CiteSeerX 8406:"Utility" 8260:148506444 8230:Economica 8015:16 August 7844:16 August 7772:26 August 7506:: 78–81. 7122:4 October 7055:148506444 7033:Economica 6928:4 October 6902:(2007) . 6791:4 October 6600:(1888) . 6534:"Economy" 6213:(1999) . 6060:(2007) . 5938:(1991) . 5798:Routledge 5540:Economics 5016:Economist 4954:Max Weber 4950:modernity 4942:Max Weber 4865:socialist 4320:The U.S. 4247:short run 4108:empirical 4009:inflation 3870:deviating 3785:Pollution 3644:insurance 3547:financial 3387:unchanged 3351:commodity 3242:economies 3187:empirical 3126:recession 3121:during a 3066:trade-off 3051:decreases 3047:increases 2948:commodity 2875:monopsony 2722:data sets 2542:(journal) 1896:economics 1809:Karl Marx 1801:Karl Marx 1488:talk page 1388:resources 1282:satirical 1280:. 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