Theories X and Y According to The Economist (2008b), Theories X and Y were contrived by Douglas McGregor, who published them in his 1960 book “The Human Side of Enterprise”. He was heavily influenced by Abraham Maslow, and this was particularly evident in his theories that contrasted greatly with the prevalence of scientific management at the time (The Economist, 2008a). Theories X and Y identified a principle divergence between management approaches and this formed the foundation for the development
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6/27/2015 First break all the rules | The Economist × Our cookie policy has changed. Review our cookies policy for more details and to change your cookie preference. By continuing to browse this site you are agreeing to our use of cookies. More from The Economist My Subscription World politics Business & finance Subscribe Economics Science & technology Culture Log in or register Blogs Debate Multimedia Print edition Special report: Innovation in emerging markets
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Motohiro Okada examines the some of the views of a certain economist. Karl Marx, one of the most noted and respected classical economist purported two main theories on labor and two centuries after his birth, his contributions to the topic and its continued use in economics is examined. Marx developed his views on economics from prior classical economist and so many of his doctrines, especially on labour, contradict the neoclassical economists that came at a time after him. Marx expressed his views
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been fooled by his attempt at modesty. He'd won for his part in developing one of economists' main models of cause and effect: How can we expect people to respond to changes in prices, for example, or interest rates? According to the laureates' theories, they'll do whatever's most beneficial to them, and they'll do it every time. They don't need governments to instruct them; they figure it out for themselves. Economists call this the “rational expectations” model. And it's not just an abstraction: Bankers
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by poverty rates, unemployment rates, and the reduction of part-time jobs. In 2008, an economist from American University and Cornell University released their results to their study on the effects of a higher minimum wage. They reported that through 2003 to 2007, the increase in the minimum wage did not decrease poverty rates throughout the struggling urban areas of America. Simultaneously, a group of economist from Ohio State University released a study that the increase in minimum wage, but in
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influential economist of the 20th century, John Maynard Keynes changed the economy by his Keynesian Economics. Not only was it used during the Great Depression, it is continually used in our economy today. Introduction John Maynard Keynes (also known as “1st Baron Keynes) was a British economist that was born in Cambridge, England. His ideas and theories changed the practice of modern macroeconomics. He is well known for the Keynesian economics that made him one of the most influential economist of the
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Chapter 2: Economic Models of Trade-Offs and Trade Models in Economics: * Model: a simplified representation of a real situation that is used to better understand real-life situations * Other things equal assumption: all other relevant factors remain unchanged Trade-offs and the Production Possibility Frontier: * Production Possibility Frontier: illustrates the trade-offs facing an economy that produces only two goods. It shows the maximum quantity of one good that can be produced for
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one. Some economists cannot agree on even just a simple question of whether or not this immigration has a positive or negative impact on American workers. Immigration does have some sort of impact on the economy of America, but whether it be positive or negative is based on the economist's standpoint. On one side of the argument, some economists are under the impression that immigrants, mainly illegal immigrants, take the jobs of Americans. On the other side of the coin, some economists believe
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3. Education. Economists are convinced that education helps to promote growth. However, this does not mean that all economists support public schools. Many economists believe that the government should provide vouchers and let parents choose schools. This would make it easier for weaker schools to fail and encourage innovative improvements in education. 4. Anti-trust policy A monopoly will tend to resist innovation. However, economists disagree about whether particular firms
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in accordance with modern economics, and they call upon modern economists from so-called advanced countries to advise them, to formulate the policies to be pursued, and to construct the grand design for development, the Five-Year Plan or whatever it may be called. No one seems to think that a Buddhist way of life would call for Buddhist economics just as the modern materialist way of life has brought forth modern economics. Economists themselves, like most specialists, normally suffer from a kind
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