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c_hpnrcopdl7c2 | In the twentieth-century, as African states adjusted to postcolonial independence, legitimation crises and state collapse were constant threats. While authority was passed from colonial to independent rule successfully in most African states throughout the continent, some attempts at transition resulted in collapse. In... | Legitimation crisis |
c_rqjq8wmy6yre | In other African countries, state collapse was not a strictly postcolonial issue, as most states had some success transferring between regimes. Problems arose, however, when second-generation (and later) regimes began overthrowing original nationalist ones. Chad, Uganda, and Ghana are all instances of this happening – ... | Legitimation crisis |
c_oz9sgq0sxi9a | In Eastern European countries where Stalinism was the system of domination, the legitimacy of the system was dependent on the instillment of fear among citizens and the charisma of the state leader. This was the strategy that worked for Stalin, himself, in the Soviet Union, as his brand of terror and charisma inspired ... | Legitimation crisis |
c_khk5bi377ijn | Furthermore, communism was implemented in other East European states (e.g. Romania, Hungary, Poland) in a much shorter time frame and developed very differently from the way it did in the Soviet Union. In Hungary, for example, the communist party initially came to power via tacit consent to a coalition government. | Legitimation crisis |
c_fip56mpzqez3 | Over time, the party began to strategically gain more power and get rid of competition. However, the democratic means the communist parties in these states initially used to gain power lost credibility once they were seen as violent tyrannies in service of an alien power. Ultimately, populist platforms - giving farmers... | Legitimation crisis |
c_pnbbwx0lmumi | The Tunisian Revolution began with the self-immolation of Mohamed Bouazizi on December 17, 2010, although it is also possible to consider the miner strike in the west central town of Gafsa in 2008 to be the official beginning of the movement. The Tunisian people toppled Ben Ali, who had imposed a police state. The revo... | Legitimation crisis |
c_pfusy796cl3h | Tunisians demanded democracy, human rights, the end of corruption, and the end of the enforcement of the 2003 Anti-Terrorism Act, which effectively criminalized their religious ideas and practices.The previous legitimacy of the Tunisian government had been based on a combination of the charisma of former president Bour... | Legitimation crisis |
c_hpul3b20w68c | The party of the former regime, the Constitutional Democratic Rally (RCD) was banned from running for re-election, and Ennahda received 40% of the vote in an election overseen by a higher independent authority in April 2011. With its share of 89 out of 217 total seats, Ennahda then formed a coalition in the form of a t... | Legitimation crisis |
c_6h3grcebwk3y | Ennahda also failed to produce a constitution by the agreed-upon time of a year, causing many political parties, including the major political party Nidaa Tounes, to declare the end of Ennahda electoral legitimacy.The Tunisian public and political parties then asked for a compromise legitimacy that consisted of a manda... | Legitimation crisis |
c_pv2gcn8kgbu4 | Libya's revolution is also considered part of the Arab Spring, beginning February 15, 2011, just a few months after the events in Tunisia. The revolution deposed Muammar Gaddafi, who had been the ruler of Libya for four decades and had united the country under the themes of Pan-Arabism (a form of nationalism), common g... | Legitimation crisis |
c_h62cqiox3u5z | The actual death count of these attacks is not known, as Gaddafi's regime shut out and shut down both world and local media and communications. However, Libya's militarily weak regime was eventually overcome, and Gaddafi was killed on October 20, 2011, leading to the disintegration of the regime.Since Gaddafi's departu... | Legitimation crisis |
c_h1sdvgb6tcam | However, unlike Egypt, Libya has no entrenched officer class or judiciary to prolong or obstruct the country's transition to democracy. Since the revolution, no single group has been dominant, although several brigades, or katiba, have been able to exercise considerable strength. These katiba are “armed fighting groups... | Legitimation crisis |
c_7rrafylo9r57 | After Gaddafi's overthrow, the powerful brigades from Misrata and Zintan raided Tripoli, the Libyan capital, “pillaged automobiles, took over ministries and encamped at key institutions like the airport and oilfields” in order to gain political power. In order to establish democratic legitimacy and sovereignty, the Nat... | Legitimation crisis |
c_gp7n5or52ntc | Even before the 2011 revolution, former Yemeni president Ali Abdullah Saleh’s regime’s legitimacy relied on a patronage network based on the entrenched Yemeni tribal system, effectively tying Saleh’s political legitimacy to the tribes’ much more established and trusted socio-political legitimacy. Yemen is historically ... | Legitimation crisis |
c_ybljc43x2c5e | Yemeni youth wanted Saleh's resignation and “a more accountable and democratic system.” Though reform came slowly due to a lack of support from the international community and the poverty of the protestors – Yemen is the Arab world's poorest country – the anti-Saleh movement gained steam and high-level government offic... | Legitimation crisis |
c_3amvhbpvxvaa | The National Dialogue Conference, launched in March 2013, brought together 565 delegates from these parties in order to write a constitution and deal with longstanding challenges to Yemeni governance, such as counterterrorism, development, and the Southern Separatist Movement.Although Yemen was the only country from th... | Legitimation crisis |
c_l2aax3bxr8pl | The implications of an international crisis of legitimacy usually reach further than domestic crises, given that the actors have power over several different countries. International crises can threaten the stability between countries, increasing the probability for conflict. | Legitimation crisis |
c_gq1oq446jpc8 | The European Union (E.U.) is a governing body over 28 European countries. The E.U. | Legitimation crisis |
c_7pi4ecd1qle2 | does not have complete legitimacy over the citizens of the 28 countries given that it only governs in the realm of politics and economics. Additionally, the E.U. does not operate under majority rule meaning any one country can veto laws. The E.U. suffered a legitimation crisis when it attempted to pass a constitution w... | Legitimation crisis |
c_bpdxqgfmurt2 | In this time period, it was accepted by many political theorists that the United States was undergoing a crisis of legitimacy. Minorities in the United States began to question the legitimacy of the government because they felt they were being denied rights. The mindset was transferred into movements beginning in the C... | Legitimation crisis |
c_q07qwbajus1r | In the United States 2000 presidential election, 2000 United States presidential election, Bush lost the popular vote but still won the electoral vote. Many United States citizens did not believe this was right. The legitimacy of the United States came into question after the Supreme Court Decision, Bush v. Gore. While... | Legitimation crisis |
c_uw5d9l554zz5 | When an actor loses legitimacy, the public no longer trusts the actor to maintain a social contract. Without the social contract, the natural rights of the public, such as life, liberty, and property, are in jeopardy. Therefore, it is usually in the interest of both the public and the actor to end the legitimation cris... | Legitimation crisis |
c_6plaaxojt67j | Although the actor could be replaced, as seen in many of the examples above and effectively ending the legitimation crisis, this section will focus on the conflict resolution of the crisis. In this situation, the actor that was seeking legitimacy before the crisis regains legitimacy. An actor can regain legitimacy in t... | Legitimation crisis |
c_erw7phkz8npc | In 1956 in Montgomery, Alabama, the more than year-long Montgomery bus boycott eventually led to repeal of the local ordinance for bus segregation. In this case, by realigning the laws to fit with public opinion, the government was able to regain legitimacy. | Legitimation crisis |
c_fis22qaux920 | Coerce legitimacy: drawing on capital goods to create a "material source of power." In the Rwandan genocide in 1994, the loss of government legitimacy led to an outbreak in genocide. One of the political factions, the Hutu, killed thousands of members of the Tutsi party. The RPF had to rely on the capital goods of the ... | Legitimation crisis |
c_yrbhlr1d6vzb | Source: The Psychology of Legitimacy Emerging: Perspectives on Ideology, Justice, and Intergroup Relations | Legitimation crisis |
c_o91zj5gz1iak | Serial extraction is the planned extraction of certain deciduous teeth and specific permanent teeth in an orderly sequence and predetermined pattern to guide the erupting permanent teeth into a more favorable position. | Serial extraction |
c_vb4l6t46l825 | In 1929, Kjellgren of Sweden used the term "serial extraction" for the first time. In the 1940s the technique was popularised in the United States by Hayes Nance as “planned and progressive extraction”. Nance is known as the Father of serial extraction in the United States. In 1970 Hotz in Switzerland called it active ... | Serial extraction |
c_y7cmxh2l3ca0 | There is no fixed technique to be followed while carrying out serial extractions. Careful diagnosis and continuous re-evaluation during the course of treatment is mandatory to achieve required results. However based on the usual eruption sequence of teeth, deciduous canines are extracted at the age of 8–9 years to crea... | Serial extraction |
c_kevwg7idc8j2 | Extracting the primary canines only – it produces rapid self-improvement in incisor crowding and alignment intercepting the development of lingual crossbite of the lateral incisors. Extracting the first primary molars only – this approach produces the earlier eruption of first premolars but reduces the rapidity and amo... | Serial extraction |
c_zg92pdokhugt | In some cases this sequence results in simultaneous eruption of canines and first premolar, which may cause an increased distal translation of the permanent canines and possible impaction of first premolars. Enucleation of first premolar buds – it is advocated when first premolar eruption is behind that of canines and ... | Serial extraction |
c_apl286rxjt3v | In cases of class 1 malocclusion that show harmony between skeletal and muscular system Cases which present with arch length deficiency – indicated by the presence of one or more of the following: Absence of physiologic spacing Unilateral or bilateral premature loss of deciduous canines with midline shift Malpositioned... | Serial extraction |
c_mfozce7lkces | Class 2 and class 3 malocclusion with skeletal abnormalities. Patients with adequate spacing in dentition Cases of anodontia/oligodontia Patients with open bite and deep bite In cases of midline diastema Class 1 malocclusion with minimal space deficiency Unerupted malformed teeth e.g. dilacerations Extensive caries or ... | Serial extraction |
c_7g0fjyv0lthl | Treatment is more physiologic Psychological trauma can be avoided by treatment at an early age Reduces the duration of fixed orthodontic treatment Better oral hygiene is possible, so reduced risk of caries Health of investing tissues (periodontium and alveolar process) is preserved, therefore reduced alveolar bone loss... | Serial extraction |
c_bjvpw61qrbd0 | There is no single approach that can be universally applied to all patients Treatment time is prolonged as the treatment is carried out in stages spread over 2–3 years Patient has a tendency to develop tongue thrust, due to creation of extraction spaces that close gradually Extraction of posterior teeth may lead to dee... | Serial extraction |
c_860joz3q1u1l | The diagnosis is based on a thorough case history, clinical examination of the patient, photographs, plaster study models, cephalometric radiographs, panoramic and periapical radiographs. | Serial extraction |
c_e3otm4pnipgf | Periodic growth assessment records should be made in all patients where growth is still going on i.e. made until 14 to 16 year old in girls and 18 to 19 year old in boys. | Serial extraction |
c_et2nvijl2egd | Checking various functional movements like swallowing, respiration, speech, opening and closing and excursive movements of the mandible and careful palpation of both temporomandibular jointsis important. | Serial extraction |
c_tc9lgituvpyd | It includes assessment of tooth mass, arch form, arch length, skeletal pattern, skeletal growth potential, orofacial musculature, facial aesthetics, oral habits and hereditary assessment of parents and siblings. The most favorable morphologic factors for serial extraction include class 1 malocclusion, a favorable morph... | Serial extraction |
c_l86e7zuqiq4o | Assessment of the tooth size – arch length relationship in the mixed dentition determines the presence or absence of any future or existing discrepancy, whether it is crowding or spacing. It involves the prediction of tooth size of the unerupted permanent canines and premolars. A caliper or a fine line divider is used ... | Serial extraction |
c_ygxr68isi9sw | A curve of occlusion formula is used to determine the additional space required to flatten the curve of spee. For every 1 degree of labial or lingual tipping of the mandibular incisors there is 0.8 mm of respective increase or decrease in arch length. The clinical image of the patient involves the interpretation of tha... | Serial extraction |
c_oq971n73wm8c | Serial extraction should be limited essentially to class 1 malocclusion with an initial normal sagittal jaw relationship and normal neuromuscular balance. It is the objective of this treatment to maintain the neuromuscular balance. With the proper diagnostic assessment skilled timing and careful monitoring, programmed ... | Serial extraction |
c_rn37irs9vczf | Too much uprighting of the incisors in the available space can result in too flat a face caused by the dishing in of the anterior segment. The mandibular anterior teeth must be stabilized to prevent excessive lingual tipping. A fixed mandibular arch from the left first permanent molar to the right first permanent molar... | Serial extraction |
c_99hpl5cz83bd | Judicious reproximation disking of primary teeth with no tooth extraction is an occasional option. This decision depends on the careful tooth size-arch length evaluation. The amount of crowding, the arch length requirements, whether they are symmetric, and the state of health of the investing tissues are factors that c... | Serial extraction |
c_6unzcjdubpzv | Sometimes removal of second premolars or mandibular second premolars and maxillary first premolars may be preferred, depending on facial balance, anchorage requirements, size of tooth and other factors. Serial extraction is a multi-decisional, time linked process. Annual records such as panoramic radiographs, photograp... | Serial extraction |
c_laf4j49to1vh | The most common unfavorable sequel of serial extraction is deepening of bite. Uprighting of incisors and early loss of posterior teeth may result in deep bite. A simple palatal bite plate may correct this problem. | Serial extraction |
c_tybhsmkcr0zs | Paralleling the roots of teeth contiguous to the extraction sites is usually easy with the autonomous approximation to various degrees before mechanotherapy. Retention demands are significantly less following serial extraction. However it is better to follow a regular retention regimen for the first six months against ... | Serial extraction |
c_il2soh05ygm1 | The military–industrial–media complex is an offshoot of the military–industrial complex. Organizations like Fairness and Accuracy in Reporting have accused the military industrial media complex of using their media resources to promote militarism, which, according to Fairness and Accuracy in Reporting's hypothesis, ben... | Military–industrial–media complex |
c_lkdjs9m8mm3q | Examples of such coverage include that of the Persian Gulf War, NATO bombing of Yugoslavia and the Iraq War. It is a common practice by defense contractors and weapons systems manufacturers to hire former military personnel as media spokespersons. In 2008, The New York Times found that approximately 75 military analyst... | Military–industrial–media complex |
c_rl96j5rfiaue | During the Gulf War General Electric owned NBC while being a subcontractor for the Tomahawk cruise missile and Patriot II missile, both of which were used extensively during the Persian Gulf War. General Electric also manufactures components for the B-2 stealth bomber and B-52 bomber and the E-3 AWACS aircraft which we... | Military–industrial–media complex |
c_l4i46akl8xxx | weapons, they were extolling equipment made by GE, the corporation that pays their salaries." Directly echoing official talking points, many media officials referred to civilian casualties as "collateral damage", and like many military officials tried to avoid talking about the existence of civilian casualties altogeth... | Military–industrial–media complex |
c_e35hm949py4q | NBC failed to mention 2000 bombing runs in Iraq in one night during the war, going as far to say that "it's a quiet night in the middle east". Hodding Carter III said that the American government should be "paying for the press coverage it was getting right now". Chris Hedges, an American journalist who reported on the... | Military–industrial–media complex |
c_3py1gu01wz66 | During the NATO bombing of Yugoslavia, media coverage specifically avoided mentioning civilian casualties, even when mentioning the bombing of civilian targets such as infrastructure. Media coverage relied extensively on official NATO government and military sources for reporting, and repeatedly talked about current an... | Military–industrial–media complex |
c_5m0jgo87mb5x | Media-Military coordination was such that media executives met in the Pentagon with military officials to decide what to cover and how. In 2007, a company named Defense Solutions hired former four-star general and NBC analyst Barry McCaffrey to petition David Petraeus to buy 5000 armored vehicles from Defense Solutions... | Military–industrial–media complex |
c_f10pxaxh2mum | In the history of economic thought, a school of economic thought is a group of economic thinkers who share or shared a common perspective on the way economies work. While economists do not always fit into particular schools, particularly in modern times, classifying economists into schools of thought is common. Economi... | Schools of economic thought |
c_curz1ym6rzyy | Currently, the great majority of economists follow an approach referred to as mainstream economics (sometimes called 'orthodox economics'). Economists generally specialize into either macroeconomics, broadly on the general scope of the economy as a whole, and microeconomics, on specific markets or actors.Within the mac... | Schools of economic thought |
c_79w18la8m601 | Mainstream economics is distinguished in general economics from heterodox approaches and schools within economics. It begins with the premise that resources are scarce and that it is necessary to choose between competing alternatives. That is, economics deals with tradeoffs. With scarcity, choosing one alternative impl... | Schools of economic thought |
c_f32oe5kl8qxu | The opportunity cost expresses an implicit relationship between competing alternatives. Such costs, considered as prices in a market economy, are used for analysis of economic efficiency or for predicting responses to disturbances in a market. In a planned economy comparable shadow price relations must be satisfied for... | Schools of economic thought |
c_97r0mmjpvvm7 | Economists believe that incentives and costs play a pervasive role in shaping decision making. An immediate example of this is the consumer theory of individual demand, which isolates how prices (as costs) and income affect quantity demanded. Modern mainstream economics has foundations in neoclassical economics, which ... | Schools of economic thought |
c_13vsjegkg6l7 | Mainstream economics also acknowledges the existence of market failure and insights from Keynesian economics, most contemporaneously in the macroeconomic new neoclassical synthesis. It uses models of economic growth for analyzing long-run variables affecting national income. It employs game theory for modeling market o... | Schools of economic thought |
c_2op29td2i0us | Some important insights on collective behavior (for example, emergence of organizations) have been incorporated through the new institutional economics. A definition that captures much of modern economics is that of Lionel Robbins in a 1932 essay: "the science which studies human behaviour as a relationship between end... | Schools of economic thought |
c_hr75qgjktfpu | Absent scarcity and alternative uses of available resources, there is no economic problem. The subject thus defined involves the study of choice, as affected by incentives and resources. Mainstream economics encompasses a wide (but not unbounded) range of views. Politically, most mainstream economists hold views rangin... | Schools of economic thought |
c_icchutd3ac37 | In the late 19th century, a number of heterodox schools contended with the neoclassical school that arose following the marginal revolution. Most survive to the present day as self-consciously dissident schools, but with greatly diminished size and influence relative to mainstream economics. The most significant are In... | Schools of economic thought |
c_uvb6xwtv8b7j | Keynesian views entered the mainstream as a result of the neoclassical synthesis developed by John Hicks. The rise of Keynesianism, and its incorporation into mainstream economics, reduced the appeal of heterodox schools. | Schools of economic thought |
c_sy40mmghevxh | However, advocates of a more fundamental critique of neoclassical economics formed a school of post-Keynesian economics. Heterodox approaches often embody criticisms of perceived "mainstream" approaches. For instance: feminist economics criticizes the valuation of labor and argues female labor is systemically undervalu... | Schools of economic thought |
c_ert9cry2zoj1 | Modern macro- and microeconomics are young sciences. But many in the past have thought on topics ranging from value to production relations. These forays into economic thought contribute to the modern understanding, ranging from ancient Greek conceptions of the role of the household and its choices to mercantilism and ... | Schools of economic thought |
c_5btit5xzue8k | Islamic economics is the practice of economics in accordance with Islamic law. The origins can be traced back to the Caliphate, where an early market economy and some of the earliest forms of merchant capitalism took root between the 8th–12th centuries, which some refer to as "Islamic capitalism".Islamic economics seek... | Schools of economic thought |
c_3bs9evwpopuf | Another distinguishing feature is prohibition of interest in the form of excess charged while trading in money. Its pronouncement on use of paper currency also stands out. | Schools of economic thought |
c_4x58ahj6c6ny | Though promissory notes are recognized, they must be fully backed by reserves. Fractional-reserve banking is disallowed as a form of breach of trust. It saw innovations such as trading companies, big businesses, contracts, bills of exchange, long-distance international trade, the first forms of partnership (mufawada) s... | Schools of economic thought |
c_n9uzkecz9lyl | Economic policy in Europe during the late Middle Ages and early Renaissance treated economic activity as a good which was to be taxed to raise revenues for the nobility and the church. Economic exchanges were regulated by feudal rights, such as the right to collect a toll or hold a fair, as well as guild restrictions a... | Schools of economic thought |
c_cfniw9b8q21q | Niccolò Machiavelli in his book The Prince was one of the first authors to theorize economic policy in the form of advice. He did so by stating that princes and republics should limit their expenditures and prevent either the wealthy or the populace from despoiling the other. In this way a state would be seen as "gener... | Schools of economic thought |
c_orzwwkwn9lzy | The Physiocrats were 18th century French economists who emphasized the importance of productive work, and particularly agriculture, to an economy's wealth. Their early support of free trade and deregulation influenced Adam Smith and the classical economists. | Schools of economic thought |
c_tuu339jkokwm | Classical economics, also called classical political economy, was the original form of mainstream economics of the 18th and 19th centuries. Classical economics focuses on the tendency of markets to move to equilibrium and on objective theories of value. Neo-classical economics differs from classical economics primarily... | Schools of economic thought |
c_4uujltasa1bq | Anders Chydenius (1729–1803) was the leading classical liberal of Nordic history. Chydenius, who was a Finnish priest and member of parliament, published a book called The National Gain in 1765, in which he proposes ideas of freedom of trade and industry and explores the relationship between economy and society and lay... | Schools of economic thought |
c_gjr8qd8f1l1u | The American School owes its origin to the writings and economic policies of Alexander Hamilton, the first Treasury Secretary of the United States. It emphasized high tariffs on imports to help develop the fledgling American manufacturing base and to finance infrastructure projects, as well as National Banking, Public ... | Schools of economic thought |
c_qzqitfgejbae | The French Liberal School (also called the "Optimist School" or "Orthodox School") is a 19th-century school of economic thought that was centered on the Collège de France and the Institut de France. The Journal des Économistes was instrumental in promulgating the ideas of the School. The School voraciously defended fre... | Schools of economic thought |
c_vzzfra3ev1y1 | The historical school of economics was an approach to academic economics and to public administration that emerged in the 19th century in Germany, and held sway there until well into the 20th century. The Historical school held that history was the key source of knowledge about human actions and economic matters, since... | Schools of economic thought |
c_05ft9b90n9cw | The School preferred historical, political, and social studies to self-referential mathematical modelling. Most members of the school were also Kathedersozialisten, i.e. concerned with social reform and improved conditions for the common man during a period of heavy industrialization. The Historical School can be divid... | Schools of economic thought |
c_2j3dnhm0qalb | Predecessors included Friedrich List. The Historical school largely controlled appointments to Chairs of Economics in German universities, as many of the advisors of Friedrich Althoff, head of the university department in the Prussian Ministry of Education 1882–1907, had studied under members of the School. Moreover, P... | Schools of economic thought |
c_yj4e35ixhugy | The Historical school was involved in the Methodenstreit ("strife over method") with the Austrian School, whose orientation was more theoretical and a prioristic. In English speaking countries, the Historical school is perhaps the least known and least understood approach to the study of economics, because it differs r... | Schools of economic thought |
c_mypp49nu1zow | Although not nearly as famous as its German counterpart, there was also an English Historical School, whose figures included William Whewell, Richard Jones, Thomas Edward Cliffe Leslie, Walter Bagehot, Thorold Rogers, Arnold Toynbee, William Cunningham, and William Ashley. It was this school that heavily critiqued the ... | Schools of economic thought |
c_a1ft5wsmg50v | Georgism or geoism is an economic philosophy proposing that both individual and national economic outcomes would be improved by the utilization of economic rent resulting from control over land and natural resources through levies such as a land value tax. | Schools of economic thought |
c_bbv60h6u83o9 | Ricardian socialism is a branch of early 19th century classical economic thought based on the theory that labor is the source of all wealth and exchange value, and rent, profit and interest represent distortions to a free market. The pre-Marxian theories of capitalist exploitation they developed are widely regarded as ... | Schools of economic thought |
c_vn2d4inmftf7 | Marxian economics descended from the work of Karl Marx and Friedrich Engels. This school focuses on the labor theory of value and what Marx considered to be the exploitation of labour by capital. Thus, in Marxian economics, the labour theory of value is a method for measuring the exploitation of labour in a capitalist ... | Schools of economic thought |
c_iie6hr3n4xcx | Anarchist economics comprises a set of theories which seek to outline modes of production and exchange not governed by coercive social institutions: Mutualists advocate for market socialism with cooperatives, mutual banking, and usufructs. Collectivist anarchists advocate for collective ownership, decentralised economi... | Schools of economic thought |
c_w1la4fqqr89y | Distributism is an economic philosophy that was originally formulated in the late 19th century and early 20th century by Catholic thinkers to reflect the teachings of Pope Leo XIII's encyclical Rerum Novarum and Pope Pius's XI encyclical Quadragesimo Anno. It seeks to pursue a third way between capitalism and socialism... | Schools of economic thought |
c_zvifvv06zyht | Institutional economics focuses on understanding the role of the evolutionary process and the role of institutions in shaping economic behaviour. Its original focus lay in Thorstein Veblen's instinct-oriented dichotomy between technology on the one side and the "ceremonial" sphere of society on the other. Its name and ... | Schools of economic thought |
c_4n3pzlewawdn | Neoclassical economics is often referred to by its critics as Orthodox Economics. The more specific definition this approach implies was captured by Lionel Robbins in a 1932 essay: "the science which studies human behavior as a relation between scarce means having alternative uses." The definition of scarcity is that a... | Schools of economic thought |
c_kiyd6csph3dn | The Lausanne School of economics is an extension of the neoclassical school of economic thought, named after the University of Lausanne in Switzerland. The school is primarily associated with Léon Walras and Vilfredo Pareto, both of whom held successive professorships in political economy at the university, in the latt... | Schools of economic thought |
c_0e2lccuy7ha8 | A notable work of the Lausanne School is Walras' development of the general equilibrium theory as a holistic means of analysing the economy, in contrast to partial equilibrium theory, which only analyses single markets in isolation. The theory shows how a general equilibrium is reached through the interaction between d... | Schools of economic thought |
c_i0h3yuhq7q1i | Contrary to utilitarianism, Pareto found that the welfare of an economy cannot be measured by aggregating the individual utilities of its inhabitants. Since individual utilities are subjective, their measurements may not be directly comparable. This led Pareto to conclude that if at least one person's utility increased... | Schools of economic thought |
c_ho0cluupl1kf | Conversely, if a majority of people experienced an increase in utility while at least one person was worse off, there could be no definitive conclusion about the welfare of the economy. These observations formed the basis of Pareto efficiency, which describes a situation or outcome in which nobody can be made better of... | Schools of economic thought |
c_90jt5b74xqx4 | Austrian economists advocate methodological individualism in interpreting economic developments, the subjective theory of value, that money is non-neutral, and emphasize the organizing power of the price mechanism (see Economic calculation debate) and a laissez faire approach to the economy. | Schools of economic thought |
c_c73tp4cuay6u | The Stockholm School is a school of economic thought. It refers to a loosely organized group of Swedish economists that worked together, in Stockholm, Sweden primarily in the 1930s. The Stockholm School had—like John Maynard Keynes—come to the same conclusions in macroeconomics and the theories of demand and supply. Li... | Schools of economic thought |
c_ku9ccg73qlx7 | Keynesian economics has developed from the work of John Maynard Keynes and focused on macroeconomics in the short-run, particularly the rigidities caused when prices are fixed. It has two successors. Post-Keynesian economics is an alternative school—one of the successors to the Keynesian tradition with a focus on macro... | Schools of economic thought |
c_ok0rcchvujkn | Generally associated with Cambridge, England, and the work of Joan Robinson (see Post-Keynesian economics). New-Keynesian economics is the other school associated with developments in the Keynesian fashion. These researchers tend to share with other Neoclassical economists the emphasis on models based on micro foundati... | Schools of economic thought |
c_elpk6n9eqffy | The Chicago School is a neoclassical school of economic thought associated with the work of the faculty at the University of Chicago, notable particularly in macroeconomics for developing monetarism as an alternative to Keynesianism and its influence on the use of rational expectations in macroeconomic modelling. | Schools of economic thought |
c_h6hxfjgg25x0 | New institutional economics is a perspective that attempts to extend economics by focusing on the social and legal norms and rules (which are institutions) that underlie economic activity and with analysis beyond earlier institutional economics and neoclassical economics. It can be seen as a broadening step to include ... | Schools of economic thought |
c_iod0b42mw8hh | Notable schools or trends of thought in economics in the 20th century were as follows. These were advocated by well-defined groups of academics that became widely known: In the late 20th century, areas of study that produced change in economic thinking were: risk-based (rather than price-based models), imperfect econom... | Schools of economic thought |
c_q7ebhjbjjauo | An important area of growth was the study of information and decision. Examples of this school included the work of Joseph Stiglitz. Problems of asymmetric information and moral hazard, both based around information economics, profoundly affected modern economic dilemmas like executive stock options, insurance markets,... | Schools of economic thought |
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