text stringlengths 11 1.65k | source stringlengths 38 44 |
|---|---|
Poverty In 1968, Paul Samuelson, John Kenneth Galbraith and another 1,200 economists signed a document calling for the US Congress to introduce a system of income guarantees. Winners of the Nobel Prize in Economics, with often diverse political convictions, who support a basic income include Herbert A. Simon, Friedrich... | https://en.wikipedia.org/wiki?curid=64959 |
Poverty Additionally, in aid models, the famine relief model increasingly used by aid groups calls for giving cash or cash vouchers to the hungry to pay local farmers instead of buying food from donor countries, often required by law, as it wastes money on transport costs. Corruption often leads to many civil services ... | https://en.wikipedia.org/wiki?curid=64959 |
Poverty Road infrastructure has a direct impact on poverty. Additionally, migration from poorer countries resulted in $328 billion sent from richer to poorer countries in 2010, more than double the $120 billion in official aid flows from OECD members. In 2011, India got $52 billion from its diaspora, more than it took ... | https://en.wikipedia.org/wiki?curid=64959 |
Poverty Mobile banking utilizes the wide availability of mobile phones to address the problem of the heavy regulation and costly maintenance of saving accounts. This usually involves a network of agents of mostly shopkeepers, instead of bank branches, would take deposits in cash and translate these onto a virtual accou... | https://en.wikipedia.org/wiki?curid=64959 |
Poverty " It has been reported that only 1% of the world population controls 50% of the wealth today, and the other 99% is having access to the remaining 50% only, and the gap has sharply increased in the recent past. In 2018, Oxfam reported that the gains of the world's billionaires in 2017, which amounted to $762 bil... | https://en.wikipedia.org/wiki?curid=64959 |
Poverty Rajan, former governor of the Reserve Bank of India, former chief economist at the International Monetary Fund and professor of finance at the University of Chicago Booth School of Business has blamed the ever-widening gulf between the rich and the poor especially in the US to be one of the main "Fault Lines" w... | https://en.wikipedia.org/wiki?curid=64959 |
Poverty Kash Rangan, John Quelch, and other faculty members at the Global Project at Harvard Business School "believe that in pursuing its own self-interest in opening and expanding the BoP market, business can make a profit while serving the poorest of consumers and contributing to development." According to Rangan "F... | https://en.wikipedia.org/wiki?curid=64959 |
Poverty Rather than encouraging multinational businesses to meet the needs of the poor, some organizations such as iDE, the World Resources Institute, and the United Nations Development Programme began to focus on working directly with helping bottom-of-the-pyramid populations become local, small-scale entrepreneurs. S... | https://en.wikipedia.org/wiki?curid=64959 |
Poverty Milton Friedman argues that "the social responsibility of business is to increase its profits" only, thus, it needs to be examined whether business in BoP markets is capable of achieving the dual objective of "making a profit while serving the poorest of consumers and contributing to development"? Erik Simanis ... | https://en.wikipedia.org/wiki?curid=64959 |
Poverty Others have noted that relying on BoP consumers to choose to purchase items that increase their incomes is naive. Poor consumers may spend their income disproportionately on events or goods and services that offer short-term benefits rather than invest in things that could change their lives in the long-term. A... | https://en.wikipedia.org/wiki?curid=64959 |
Poverty A Delhi-based environment organisation, the Centre for Science and Environment, points out that if the poor world were to develop and consume in the same manner as the West to achieve the same living standards, "we would need two additional planet Earths to produce resources and absorb wastes.", reports Anup Sh... | https://en.wikipedia.org/wiki?curid=64959 |
Poverty He considered that the moderation implied in the former favors solidarity, and is a necessary condition so as to fight effectively to eradicate the abuse of the latter. As it was indicated above the reduction of poverty results from religion, but also can result from solidarity. | https://en.wikipedia.org/wiki?curid=64959 |
Saving is income not spent, or deferred consumption. Methods of saving include putting money aside in, for example, a deposit account, a pension account, an investment fund, or as cash. also involves reducing expenditures, such as recurring costs. In terms of personal finance, saving generally specifies low-risk preser... | https://en.wikipedia.org/wiki?curid=65228 |
Saving , the National Income and Product Accounts), personal interest payments are not treated as "saving" unless the institutions and people who receive them save them. is closely related to physical investment, in that the former provides a source of funds for the latter. By not using income to buy consumer goods and... | https://en.wikipedia.org/wiki?curid=65228 |
Saving In a primitive agricultural economy savings might take the form of holding back the best of the corn harvest as seed corn for the next planting season. If the whole crop were consumed the economy would convert to hunting and gathering the next season. Classical economics posited that interest rates would adjust ... | https://en.wikipedia.org/wiki?curid=65228 |
Saving This distinction is important as the investment risk can cause a capital loss when an investment is realized, unlike cash saving(s). Cash savings accounts are considered to have minimal risk. In the United States, all banks are required to have deposit insurance, typically issued by the Federal Deposit Insurance... | https://en.wikipedia.org/wiki?curid=65228 |
Mixed economy A mixed economy is variously defined as an economic system blending elements of market economies with elements of planned economies, free markets with state interventionism, or private enterprise with public enterprise. As such, there is no single definition of a mixed economy. One definition is about a m... | https://en.wikipedia.org/wiki?curid=65668 |
Mixed economy This contrasts with "laissez-faire" capitalism, where state activity is limited to providing public goods and services as well as the infrastructure and legal framework to protect property rights and enforce contracts. In reference to post-war Western European economic models as championed by Christian de... | https://en.wikipedia.org/wiki?curid=65668 |
Mixed economy The political definition of a mixed economy refers to the degree of state interventionism in a market economy, portraying the state as encroaching onto the market under the assumption that the market is the natural mechanism for allocating resources. The political definition is limited to capitalistic eco... | https://en.wikipedia.org/wiki?curid=65668 |
Mixed economy In the apolitical sense, the term mixed economy is used to describe economic systems which combine various elements of market economies and planned economies. As most political-economic ideologies are defined in an idealized sense, what is described rarely—if ever—exists in practice. Most would not consid... | https://en.wikipedia.org/wiki?curid=65668 |
Mixed economy However, subsequent scholars have noted that conceiving of subsidiarity as a "top-down, government-driven political exercise" requires a selective reading of 1960s encyclicals. A more comprehensive reading of Catholic social teaching suggests a conceptualization of subsidiarity as a "bottom-up concept" th... | https://en.wikipedia.org/wiki?curid=65668 |
Mixed economy In the early post-war era in Western Europe, social democratic parties rejected the Stalinist political and economic model then current in the Soviet Union, committing themselves either to an alternate path to socialism or to a compromise between capitalism and socialism. In this period, social democrats ... | https://en.wikipedia.org/wiki?curid=65668 |
Mixed economy The social democratic theorist Eduard Bernstein advocated a form of mixed economy, believing that a mixed system of public, cooperative and private enterprise would be necessary for a long period of time before capitalism would evolve of its own accord into socialism. The People's Republic of China adopte... | https://en.wikipedia.org/wiki?curid=65668 |
Mixed economy Other examples of common government activity in this form of mixed economy include environmental protection, maintenance of employment standards, a standardized welfare system and maintenance of competition. Most contemporary market-oriented economies fall under this category, including the economy of the... | https://en.wikipedia.org/wiki?curid=65668 |
Mixed economy During this period, the United States grew into the largest economy in the world, surpassing the United Kingdom by 1880, although not the British Empire. This type of mixed economy specifically refers to a mixture of private and public ownership of industry and the means of production. As such, it is some... | https://en.wikipedia.org/wiki?curid=65668 |
Mixed economy The latest round of state-owned enterprise reform initiated in 2013 stressed increased dividend payouts of state enterprises to the central government and mixed ownership reform which includes partial private investment into state-owned firms. As a result, many nominally private-sector firms are actually ... | https://en.wikipedia.org/wiki?curid=65668 |
Mixed economy Hungary inaugurated the New Economic Mechanism reforms in 1968 that introduced market processes into its planned economy. Under this system, firms were still publicly owned but not subject to physical production targets and output quotas specified by a national plan. Firms were attached to state ministrie... | https://en.wikipedia.org/wiki?curid=65668 |
Mixed economy These publicly owned enterprises would still be subject to market sovereignty as they would have to acquire capital goods through markets, strive to maximize profits or at the least try to minimize costs and utilize monetary accounting for economic calculation. Classical and orthodox Marxist theorists als... | https://en.wikipedia.org/wiki?curid=65668 |
Metcalfe's law states the effect of a telecommunications network is proportional to the square of the number of connected users of the system ("n"). First formulated in this form by George Gilder in 1993, and attributed to Robert Metcalfe in regard to Ethernet, was originally presented, c. 1980, not in terms of users, ... | https://en.wikipedia.org/wiki?curid=65776 |
Metcalfe's law Likewise, in social networks, the greater number of users with the service, the more valuable the service becomes to the community. In addition to the difficulty of quantifying the "value" of a network, the mathematical justification for measures only the "potential" number of contacts, i.e., the technol... | https://en.wikipedia.org/wiki?curid=65776 |
Metcalfe's law Despite many arguments about Metcalfe' law, no real data based evidence for or against was available for more than 30 years. Only in July 2013, Dutch researchers managed to analyze European Internet usage patterns over a long enough time and found "n" proportionality for small values of "n" and ("n" log ... | https://en.wikipedia.org/wiki?curid=65776 |
Homesteading the Noosphere "Homesteading the Noosphere" (abbreviated HtN) is an essay written by Eric S. Raymond about the social workings of open-source software development. It follows his previous piece "The Cathedral and the Bazaar" (1997). The essay examines issues of project ownership and transfer, as well as inv... | https://en.wikipedia.org/wiki?curid=66267 |
Informal economy An informal economy (informal sector or grey economy) is the part of any economy that is neither taxed nor monitored by any form of government. Although the informal sector makes up a significant portion of the economies in developing countries, it is sometimes stigmatized as troublesome and unmanageab... | https://en.wikipedia.org/wiki?curid=66499 |
Informal economy While both of these definitions imply a lack of choice or agency in involvement with the informal economy, participation may also be driven by a wish to avoid regulation or taxation. This may manifest as unreported employment, hidden from the state for tax, social security or labour law purposes, but l... | https://en.wikipedia.org/wiki?curid=66499 |
Informal economy A countervailing view, put forward by prominent Dutch sociologist Saskia Sassen is that the modern or new 'informal' sector is the product and driver of advanced capitalism and the site of the most entrepreneurial aspects of the urban economy, led by creative professionals such as artists, architects, ... | https://en.wikipedia.org/wiki?curid=66499 |
Informal economy They found that the sector had not only persisted, but in fact expanded to encompass new developments. In accepting that these forms of productions were there to stay, scholars and some international organizations quickly took up the term informal sector (later known as the informal economy or just inf... | https://en.wikipedia.org/wiki?curid=66499 |
Informal economy With the turn towards so called post-fordist modes of production in the advanced developing countries, many workers were forced out of their formal sector work and into informal employment. In a seminal collection of articles, "The Informal Economy. Studies in Advanced and Less Developed Countries", Al... | https://en.wikipedia.org/wiki?curid=66499 |
Informal economy Whereas de Soto's work is popular with policymakers and champions of free market policies like "The Economist", some scholars of the informal economy have criticized it both for methodological flaws and normative bias. In the second half of the 1990s many scholars have started to consciously use the te... | https://en.wikipedia.org/wiki?curid=66499 |
Informal economy The informal sector is largely characterized by several qualities: skills gained outside of a formal education, easy entry (meaning anyone who wishes to join the sector can find some sort of work which will result in cash earnings), a lack of stable employer-employee relationships, and a small scale of... | https://en.wikipedia.org/wiki?curid=66499 |
Informal economy The first view argues that the informal sector is a reservoir of potentially productive entrepreneurs who are kept out of formality by high regulatory costs, most notably entry regulation. The second sees informal forms as “parasite forms” that are productive enough to survive in the formal sector but ... | https://en.wikipedia.org/wiki?curid=66499 |
Informal economy While participation in the informal sector can be stigmatized, many workers engage in informal ventures by choice, for either economic or non-economic reasons. Economic motivations include the ability to evade taxes, the freedom to circumvent regulations and licensing requirements, and the capacity to ... | https://en.wikipedia.org/wiki?curid=66499 |
Informal economy While production or employment arrangements in the informal economy may not be strictly legal, the sector produces and distributes legal goods and services. The criminal economy produces illegal goods and services. The informal economy also does not include the reproductive or care economy, which is ma... | https://en.wikipedia.org/wiki?curid=66499 |
Informal economy If agricultural employment is included, the percentages rise, in some countries like India and many sub-Saharan African countries beyond 90%. Estimates for developed countries are around 15%. In recent surveys, the informal economy in many regions has declined over the past 20 years to 2014. In Africa,... | https://en.wikipedia.org/wiki?curid=66499 |
Informal economy Breusch has critiqued the work and warned the profession that the literature applying this model to the underground economy abounds with alarming Procrustean tendencies. Various kinds of sliding and scaling of the results are carried out in the name of "benchmarking", although these operations are not ... | https://en.wikipedia.org/wiki?curid=66499 |
Informal economy 350 bn € per annum since then (see also diagram on the right). Hence, the EU financial economy has developed parallel an efficient tax haven bank system to protect and manage its growing shadow economy. As per the Financial Secrecy Index (FSI 2013) currently Germany and some neighbouring countries, ran... | https://en.wikipedia.org/wiki?curid=66499 |
Informal economy As an example German shadow economy in 2013 was 4.400 € per capita, which was the 9th highest place in EU, whereas according to OECD only 11.2% of employed people were self-employed (place 18). On the other hand, Greece's shadow economy was only 3.900 € p.c (place 13) but self-employment was 36.9% (pla... | https://en.wikipedia.org/wiki?curid=66499 |
Informal economy They derive social protection, pension and child benefits and the like, from their formal employment, and at the same time have tax and other advantages from working on the side. From the viewpoint of governments, the informal sector can create a vicious cycle. Being unable to collect taxes from the in... | https://en.wikipedia.org/wiki?curid=66499 |
Informal economy Major occupations in the informal sector include home-based workers (such as dependent subcontract workers, independent own account producers, and unpaid workers in family businesses) and street vendors, which both are classified in the informal sector. Women tend to make up the greatest portion of the... | https://en.wikipedia.org/wiki?curid=66499 |
Informal economy Not only is the political power of informal workers limited, but the existence of the informal economy creates challenges for other politically influential actors. For example, the informal workforce is not a part of any trade union, nor does there seem a push or inclination to change that status. Yet ... | https://en.wikipedia.org/wiki?curid=66499 |
Informal economy Average incomes are substantially lower in the informal economy and there is a higher preponderance of impoverished employees working in the informal sector. In addition, workers in the informal economy are less likely to benefit from employment benefits and social protection programs. For instance, a ... | https://en.wikipedia.org/wiki?curid=66499 |
Informal economy Participating in the informal economy is becoming normalized due to the lack of resources available in low-income and marginalized communities, and no matter how hard they have to work, will not advance in the economic hierarchy. When a parent is either unemployed or their job is on low demand, they ar... | https://en.wikipedia.org/wiki?curid=66499 |
Informal economy Furthermore, certain people believe that children should not be working because children do not know the risks and the pressure of working and having so much responsibility, but the reality is that for most families, the children are not being forced to work, rather they choose to help sustain their fa... | https://en.wikipedia.org/wiki?curid=66499 |
Informal economy Through field notes derived from their participation, Estrada states, “children are not the ‘baggage’ that adult immigrants simply bring along. In the case of street vendors, we see that they are also contributors to family processes”. Estrada's findings demonstrate that children are working in order t... | https://en.wikipedia.org/wiki?curid=66499 |
Informal economy Hence it is not a surprise to see policy invisibility in the informal sector. Curiously, the informal sector does not find a permanent place in the Marxian theory since they anticipate the destruction of the pre-capitalist structure as a result of the aggressive growth of capitalism. To them, in the co... | https://en.wikipedia.org/wiki?curid=66499 |
Informal economy It is possible that the kind of development that has been occurring has failed to support the increased labor force in a formal manner. Expansion can also be explained by the increased subcontracting due to globalization and economic liberalization. Finally, employers could be turning toward the inform... | https://en.wikipedia.org/wiki?curid=66499 |
Informal economy According to the Swedish International Development Cooperation Agency (SIDA), the key drivers for the growth of the informal economy in the twenty-first century include: Historically, development theories have asserted that as economies mature and develop, economic activity will shift from the informal... | https://en.wikipedia.org/wiki?curid=66499 |
Informal economy The justifications for such criticisms include viewing the informal economy as a fraudulent activity that results in a loss of revenue from taxes, weakens unions, creates unfair competition, leads to a loss of regulatory control on the government's part, reduces observance of health and safety standard... | https://en.wikipedia.org/wiki?curid=66499 |
Informal economy The challenge for policy interventions is that so many different types of informal work exist; a solution would have to provide for a diverse range of circumstances. A possible strategy would be to provide better protections and benefits to informal sector players. However, such programs could lead to ... | https://en.wikipedia.org/wiki?curid=66499 |
Informal economy The European Union has used political measures to try and curb the shadow economy. Although no definitive solution has been established to date, the EU council has led dialogue on a platform that would combat undeclared work. The World Bank's 2019 World Development Report on "The Changing Nature of Wor... | https://en.wikipedia.org/wiki?curid=66499 |
Informal economy These developments contributed to the extensive expansion of urban informal economy in practically all of Asia. In India, the country’s informal sector accounted for over 80 percent of the non-agricultural industry during the last 20 years. Inadequate employment denotes the option for majority of India... | https://en.wikipedia.org/wiki?curid=66499 |
Non-Manufacturing ISM Report on Business The is a purchasing survey of the United States service economy, published by the Institute for Supply Management since June 1998. Its results are a popular economic indicator and forecaster. The survey is currently written by Anthony Nieves, C.P.M., CFPM, the Senior Vice Presid... | https://en.wikipedia.org/wiki?curid=68037 |
Standard Industrial Classification The (SIC) is a system for classifying industries by a four-digit code. Established in the United States in 1937, it is used by government agencies to classify industry areas. The SIC system is also used by agencies in other countries, e.g., by the United Kingdom's Companies House. In ... | https://en.wikipedia.org/wiki?curid=68040 |
Standard Industrial Classification SIC codes have a hierarchical, top-down structure that begins with general characteristics and narrows down to the specifics. The first two digits of the code represent the major industry sector to which a business belongs. The third and fourth digits describe the sub-classification o... | https://en.wikipedia.org/wiki?curid=68040 |
Standard Industrial Classification For example, administrative assistants in the automotive industry support all levels of the business, yet the SIC defines these employees as part of the "Basic Sector" of manufacturing jobs when they should be reported as "Non-Basic." Secondly, SIC codes were developed for traditional... | https://en.wikipedia.org/wiki?curid=68040 |
Standard Industrial Classification This gives more precise information on establishment and worker activities than the SIC system, but changed the meaning of the classifications somewhat, making some time series of data hard to sustain accurately. Fort and Klimek (2016) found using longitudinal data on establishments t... | https://en.wikipedia.org/wiki?curid=68040 |
South American economic crisis of 2002 The South American economic crisis is the economic disturbances which have developed in 2002 in the South American countries of Argentina, Brazil and Uruguay. The Argentinian economy was suffering from sustained deficit spending and an extremely high debt overhang, and one of its ... | https://en.wikipedia.org/wiki?curid=69226 |
Bounded rationality is the idea that rationality is limited, when individuals make decisions, by the tractability of the decision problem, the cognitive limitations of the mind, and the time available to make the decision. Decision-makers, in this view, act as satisficers, seeking a satisfactory solution rather than an... | https://en.wikipedia.org/wiki?curid=70400 |
Bounded rationality Some models of human behavior in the social sciences assume that humans can be reasonably approximated or described as "rational" entities, as in rational choice theory or Downs Political Agency Models. The term was coined by Herbert A. Simon. In "Models of Man", Simon points out that most people ar... | https://en.wikipedia.org/wiki?curid=70400 |
Bounded rationality Gigerenzer proposes and shows that simple heuristics often lead to better decisions than theoretically optimal procedures. Huw Dixon later argues that it may not be necessary to analyze in detail the process of reasoning underlying bounded rationality. If we believe that agents will choose an action... | https://en.wikipedia.org/wiki?curid=70400 |
Bounded rationality computer processing power because of Moore's law, artificial intelligence and big data analytics) expand the bounds that define the feasible rationality space. Because of this expansion of the bounds of rationality, machine automated decision making makes markets more efficient. implies the idea tha... | https://en.wikipedia.org/wiki?curid=70400 |
Bounded rationality They did this by simulating a number of strategic games on an initially random network with distributed bounded rationality, then re-wiring the network so that the network on average converged towards Nash equilibria, despite the bounded rationality of nodes. They observed that this re-wiring proces... | https://en.wikipedia.org/wiki?curid=70400 |
Economic indicator An economic indicator is a statistic about an economic activity. Economic indicators allow analysis of economic performance and predictions of future performance. One application of economic indicators is the study of business cycles. Economic indicators include various indices, earnings reports, and... | https://en.wikipedia.org/wiki?curid=72529 |
Economic indicator Stock market returns are a leading indicator: the stock market usually begins to decline before the economy as a whole declines and usually begins to improve before the general economy begins to recover from a slump. Other leading indicators include the index of consumer expectations, building permit... | https://en.wikipedia.org/wiki?curid=72529 |
Economic indicator The components on the Conference Board's index are: Coincident indicators change at approximately the same time as the whole economy, thereby providing information about the current state of the economy. There are many coincident economic indicators, such as Gross Domestic Product, industrial product... | https://en.wikipedia.org/wiki?curid=72529 |
Life-cycle cost analysis (LCCA) is a tool to determine the most cost-effective option among different competing alternatives to purchase, own, operate, maintain and, finally, dispose of an object or process, when each is equally appropriate to be implemented on technical grounds. For example, for a highway pavement, in... | https://en.wikipedia.org/wiki?curid=75470 |
Life-cycle cost analysis To help building and facility managers make sound decisions, the US Federal Energy Management Program (FEMP) provides guidance and resources on applying LCCA that permits the cost-effectiveness of energy and water efficiency investments to be evaluated (see NIST Handbook 135). This document inc... | https://en.wikipedia.org/wiki?curid=75470 |
Life-cycle cost analysis (35 year life expectancy) $18,000 When performing life-cycle cost analysis it should be apparent that the high bid is not the ideal bid for this particular situation, as the building owner will end up paying $18,000 for a roof that will not exceed the life of the PV warranty and have half the l... | https://en.wikipedia.org/wiki?curid=75470 |
Participatory economics Participatory economics, often abbreviated ParEcon, is an economic system based on participatory decision making as the primary economic mechanism for allocation in society. In the system, the say in decision-making is proportional to the impact on a person or group of people. is a form of socia... | https://en.wikipedia.org/wiki?curid=76393 |
Participatory economics A main goal of socialism is to create a society without classes or hierarchy, and traditional socialist thinking identifies classes based on ownership of the means of production (in capitalism, those are the capitalist class and the proletarian class). However, Albert and Hahnel identify a third... | https://en.wikipedia.org/wiki?curid=76393 |
Participatory economics skills or talents that owe to their birth or heredity), or by virtue of workers' productivity (as measured by the "value" of the goods they produce). Therefore, the primary principle of participatory economics is to reward workers for their effort and sacrifice. For example, mining work—which is... | https://en.wikipedia.org/wiki?curid=76393 |
Participatory economics From this point, incomes for personal expenditures and consumption rights for public goods can be expected to diverge by small degrees, reflecting the choices that individuals make in between work and leisure time, and the level of danger and difficulty of a job as judged by their immediate work... | https://en.wikipedia.org/wiki?curid=76393 |
Participatory economics The planning procedure is conceived as an iterative process in which, (1) production proposals made by workers councils and (2) consumption proposals made by individuals and their neighborhood councils, are submitted and revised through multiple rounds of pricing updates until the process conver... | https://en.wikipedia.org/wiki?curid=76393 |
Participatory economics Because the conclusion of the first round of this process will almost certainly not be a workable plan, the facilitation board proceeds to update the list of indicative prices for each good up or down, in proportion to the excess demand and supply for each, so that the updated prices reflect a m... | https://en.wikipedia.org/wiki?curid=76393 |
Participatory economics The social costs are calculated by multiplying the quantity of requested inputs by their indicative prices and summing.) Proposals with a benefits-to-cost ratio below one will need to make adjustments in order to gain approval in the next round, either by switching to a less polluting technology... | https://en.wikipedia.org/wiki?curid=76393 |
Participatory economics That is, under parecon, a feasible economic plan is constructed due to an iterative adjustment of prices (participatory planning) based on councils' self-activity proposals, rather than owing to a procedure of deliberation among delegates across workplaces/industries. This is potentially desirab... | https://en.wikipedia.org/wiki?curid=76393 |
Participatory economics " Unlike historical examples of central planning, the parecon proposal advocates the use and adjustment of price information reflecting marginal social opportunity costs and benefits as integral elements of the planning process. Hahnel has argued emphatically against Milton Friedman's a priori t... | https://en.wikipedia.org/wiki?curid=76393 |
Participatory economics In the present era of free-market triumphalism it is useful to organize a sober evaluation of capitalism responding to Friedman's claims one by one." Mainstream economists largely acknowledge the problem of externalities but believe they can be addressed either through Coasian bargaining or the ... | https://en.wikipedia.org/wiki?curid=76393 |
Participatory economics However, Hahnel, who teaches ecological economics at American University, argues that in a market economy businesses try to avoid the "polluter pays principle" by shifting the burden of the costs for their polluting activities to consumers. In terms of incentives he argues this might be consider... | https://en.wikipedia.org/wiki?curid=76393 |
Participatory economics Ambiguity over who has the property right, polluters or pollution victims, free rider problems among multiple victims, and the transaction costs of forming and maintaining an effective coalition of pollution victims, each of whom is affected to a small but unequal degree, all combine to render m... | https://en.wikipedia.org/wiki?curid=76393 |
Participatory economics Thus, a three-class view of the economy (capitalists, coordinators, and workers) is stressed, in contrast to the traditional two-class view of Marxism. The coordinator class, emphasized in parecon, refers to those who have a monopoly on empowering skills and knowledge, and corresponds to the doc... | https://en.wikipedia.org/wiki?curid=76393 |
Participatory economics David Schweickart suggests participatory economics would be undesirable even if it was possible: It is a system obsessed with comparison (Is your job complex more empowering than mine?), with monitoring (You are not working at average intensity, mate—get with the program), with the details of co... | https://en.wikipedia.org/wiki?curid=76393 |
Participatory economics Albert and Hahnel note that markets themselves hardly adjust prices instantaneously, and suggest that in a participatory economy facilitation boards could modify prices on a regular basis. According to Hahnel these act according to democratically decided guidelines, can be composed of members fr... | https://en.wikipedia.org/wiki?curid=76393 |
Participatory economics Theodore Burczak argues that it is impossible for workers to give the unbiased assessments of the "largely unobservable" characteristics of effort proposed as the basis for salary levels, and the absence of market exchange mechanisms likewise makes calculating social costs of production and cons... | https://en.wikipedia.org/wiki?curid=76393 |
Freiwirtschaft Gesell is nowadays viewed as a left-wing market anarchist. consists of three central aspects, usually summed up as the Three Fs: The basic economic ideas of were published in 1890 by the Hungarian-Austrian economist Theodor Hertzka in his novel "Freiland - ein soziales Zukunftsbild" ("Freeland - A Social... | https://en.wikipedia.org/wiki?curid=76412 |
Freiwirtschaft This feedback loop is "self-destabilizing", according to the theory. | https://en.wikipedia.org/wiki?curid=76412 |
Tax Reform Act Many laws have passed through the United States Congress regarding the taxation of American individuals and companies. Below is a list of tax reform bills by year. | https://en.wikipedia.org/wiki?curid=77899 |
Developed country A developed country, industrialized country, more developed country, or more economically developed country (MEDC), is a sovereign state that has a developed economy and advanced technological infrastructure relative to other less industrialized nations. Most commonly, the criteria for evaluating the ... | https://en.wikipedia.org/wiki?curid=78255 |
Developed country The term industrialized country may be somewhat ambiguous, as industrialisation is an ongoing process that is hard to define. The first industrialized country was the United Kingdom, followed by Belgium. Later it spread further to Germany, United States, France and other Western European countries. Ac... | https://en.wikipedia.org/wiki?curid=78255 |
Developed country The index, however, does not take into account several factors, such as the net wealth per capita or the relative quality of goods in a country. This situation tends to lower the ranking for some of the most advanced countries, such as the G7 members and others. According to the United Nations Statist... | https://en.wikipedia.org/wiki?curid=78255 |
Developed country Thus, many "advanced economies" are characterized by an HDI score of 0.800 or higher. Since April 2016, the IMF classifies Macau as an advanced economy. The 2019 Human Development Report by the United Nations Development Programme was released on 9 December 2019, and calculates HDI values based on est... | https://en.wikipedia.org/wiki?curid=78255 |
Subsets and Splits
No community queries yet
The top public SQL queries from the community will appear here once available.