World Income Distribution," Journal of Economic Perspectives, 11, 19-36 “Stumble or Fall” The Economist, January 10, 2009 (on-line only) * “Argentina threatens inflation analysts with fine” Financial Times, Feb 4, 2010 *“What’s the Point of Macro?” by Dylan Grice *“An Inflation Debate Brews Over Intangibles at the Mall” Wall Street Journal, May 9, 2005 *“Measuring What Matters” The Economist, September 17, 2009 Weeks 2 and 3: International economic growth and development Capital
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nutritional demands. In Asia, the president of Bio Solutions, Charles Liu, says they are already using agricultural biotechnology (Economist, 2004). The developing world’s population is growing fast, but the amount of land available for cultivation is not. To feed the 2 billion new mouths expected by 2025, new ways must be found to squeeze more calories out of each hectare. (Economist, 2004). The first sentence in the above quotes states that there is not enough land to produce food to keep up with the growing
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universe (“The Economist,” 1999). The Economist (1999) explains how this banking family provided services to four popes and two queens for over 400 years. The Medici Family Bank was considered the most powerful financial institute in all of the early 15th century Europe. The first Medici Bank was set up by Giovanni di Bicci de Medici in 1392 (“The Economist, 1999). However, due to the depression and the aggression of the French, the Medici Bank eventually failed (‘The Economist,” 1999). The
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surprisingly quickly, transition from being ignored or tolerated to being generally denounced. I suspect this type of attitude shift is happening now in the context of conflicts of interest confronting academic economists. Such conflicts can arise when, for instance, a distinguished economist testifies before Congress, is interviewed in the press, or otherwise weighs in on policy debates without disclosing that, in addition to his academic affiliation, he also has financial/professional ties that may
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Marshall was an Englishman and one of the most influential economists of his time. His book, Principles of Economics (1890), was the dominant economic textbook in England for many years. It brings the ideas of supply and demand, marginal utility and costs of production into a coherent whole. He is known as one of the founders of neoclassical economics. John Maynard Keynes (1883 – 1946) John Maynard Keynes, 1st Baron Keynes of Tilton was a British economist whose ideas, known as Keynesian economics, had a
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Chapter Two The Production Possibility Model, Trade, and Globalization Learning Objectives After you teach the material in this chapter, your students should be able to do the following: 1. Demonstrate opportunity cost with a production possibility curve. 2. State the principle of increasing marginal opportunity cost. 3. Relate the concept of comparative advantage to the production possibility cure. 4. State how, through comparative advantage and trade, countries
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rapidly running out of alternatives to a renewal of “natural-law economics.” If such a renewal occurs, it won’t be because economists have decided to sit down and learn from philosophers (or, God forbid, theologians)—nothing could be farther from their minds—but for the same reason as the last seismic shift in economics, which began in the 1870s: a growing number of economists are finding the current state of economic theory a professional embarrassment. Of course, I may be underestimating the average
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much outright plagiarism or cheating in economics research, argues this economist, but there are grounds to conclude that a bias exists in statistical research. Does this amount to dishonesty? The author tackles the issue. T is that people try to maximize their welfare. Since dishonesty can enhance the prospect of publication, the prime success indicator in academia, economists should ask themselves whether academic economists sometimes maximize utility by being dishonest in doing or presenting
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Business Environment Rankings Which country is best to do business in? From The Economist Intelligence Unit www.eiu.com Business Environment Rankings Which country is best to do business in? F or all the talk about the potential of emerging markets, developed economies in North America, Western Europe and Asia remain the best places to do business, according to The Economist Intelligence Unit’s latest Business Environment Rankings (BER). Singapore looks set to remain the world’s
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Allen Saparzadeh Econ 330 HW2 1. What do Neo-Classical Economists argue causes unemployment? Be very specific…is it good or bad for the economy, fair or unfair, voluntary or involuntary, etc. Explain carefully. Neoclassical Economists believe that discrepancy in wages causes unemployment. They also believe that all types of unemployment are voluntary, efficient, fair, random, and self –correcting [by supply and demand]. They believe that a certain degree of unemployment is healthy. Types
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