text stringlengths 11 1.65k | source stringlengths 38 44 |
|---|---|
Free Culture (book) In 1831, the term of copyright increased from a maximum of 28 years to a maximum of 42; in 1909 the renewal term was extended from 14 years to 28. Beginning in 1962, the term of existing copyright was extended eleven times in the last 40 years. After 1976, any works created were subject to only one ... | https://en.wikipedia.org/wiki?curid=553671 |
Free Culture (book) A stark example of its impact on political discourse is the refusal by the major TV networks to run ads critical of the Bush administration's claims of Saddam Hussein's weapons of mass destruction during the period prior to the U.S. invasion of Iraq in 2003, enforced by Supreme Court decisions that ... | https://en.wikipedia.org/wiki?curid=553671 |
Free Culture (book) "(See Introduction and Identification of cultural Shift)" Lessig devotes the first chapter to defining creators as 'copycats' who borrow and "build upon the creativity that went before and that surrounds them now... partially done without permission and without compensating the original creator." Th... | https://en.wikipedia.org/wiki?curid=553671 |
Free Culture (book) '" The doujinshi artists almost never get the permission of those who own the works they modify, though their work is seen to contribute to the overall cultural production. This illegal, though culturally significant, market flourishes in Japan because it helps the mainstream comic creators. The mai... | https://en.wikipedia.org/wiki?curid=553671 |
Free Culture (book) " Lessig presses to suggest that, had the legal atmosphere been different, "nothing like the growth in a democratic technology of expression would have been realized." Democracy of expression is a main theme for this chapter, as Lessig examines various examples of the technologies that are developed... | https://en.wikipedia.org/wiki?curid=553671 |
Free Culture (book) When the Recording Industry Association of America (RIAA) sued Jesse (and three other students) for piracy, forcing him into a settlement that cost him all of his $12,000 savings, Jesse became an activist for free culture. In chapter 4 Lessig advises that "the history of the content industry is a hi... | https://en.wikipedia.org/wiki?curid=553671 |
Free Culture (book) Every generation welcomes the pirates from the last... until now. Lessig contextualizes piracy, noting that "even if some piracy is plainly wrong, not all 'piracy' is... Many kinds of 'piracy' are useful and productive... Neither our tradition nor any tradition has ever banned all 'piracy'." Lessig ... | https://en.wikipedia.org/wiki?curid=553671 |
Free Culture (book) Chapters 6–9 offer four stories to help illustrate what it means to say that a copyright is property. In the majority of European countries, copyright law began with the efforts of spiritual and temporal authorities to control the production of printers. This was often done by granting monopolies. "... | https://en.wikipedia.org/wiki?curid=553671 |
Free Culture (book) In 1774 the House of Lords, functioning like the Supreme Court of the United States today determined that in granting a copyright, "The state would protect the exclusive right [to publish], but only so long as it benefited society." "After 1774, the public domain was born. A film made by Jon Else in... | https://en.wikipedia.org/wiki?curid=553671 |
Free Culture (book) Because this was not obviously "fair use", they needed to get clear rights from anyone who might have a copyright claim to those film clips, actors, composers, musicians, etc. CD was a new technology, not mentioned in any of the original contracts with the people involved. The standard rate at that ... | https://en.wikipedia.org/wiki?curid=553671 |
Free Culture (book) However, current copyright law effectively restricts the use of this to very wealthy individuals and corporations for two reasons: (1) the vagueness of "fair use". (2) The costs of negotiating legal rights for the creative reuse of content are astronomically high. "You either pay a lawyer to defend ... | https://en.wikipedia.org/wiki?curid=553671 |
Free Culture (book) Since then, the copyright period was extended in 1831, 1909, 1954, 1971, 1976, 1988, 1992, 1994, and 1998. The media industry that got the previous extensions can be expected to try for yet another extension. Chapter 10 examines the relatively recent changes in technology and copyright law have dram... | https://en.wikipedia.org/wiki?curid=553671 |
Free Culture (book) He states "[F]air use in America simply means the right to hire a lawyer..." Constraining Innovators: In this section Lessig describes how innovators are being constrained and amongst the examples he uses he gives the company MP3.com. In 2000 this company launched a service that would allow users to... | https://en.wikipedia.org/wiki?curid=553671 |
Free Culture (book) He was particularly interested in a work that was slated to pass into the public domain in 1998. However, the Sonny Bono Copyright Term Extension Act (CTEA) meant that this work would not be in the public domain until 2019—and not even then if Congress extended the term again, as it had eleven times... | https://en.wikipedia.org/wiki?curid=553671 |
Free Culture (book) " The structure of current law makes it exceedingly difficult for someone who might want to do something with an old work to find the copyright owner, because no central list exists. Because these old works no longer seem commercially viable to the copyright holder, many are deteriorating. Many old ... | https://en.wikipedia.org/wiki?curid=553671 |
Free Culture (book) He supports the rights of companies to charge whatever they want for innovative products, but says we need patents to encourage others to invest in the research needed to develop such products. He points out, however, that offering AIDS drugs at a much reduced price in Africa would not directly impa... | https://en.wikipedia.org/wiki?curid=553671 |
Free Culture (book) More Formalities": It is suggested that all copyright work should be registered so as to lower the costs involved in obtaining the rights to a work. He further suggests that until a work has a complainant copyright notice the work should be usable by anyone. "2. Shorter Terms" In this section it is ... | https://en.wikipedia.org/wiki?curid=553671 |
Free Culture (book) However, he says that "after taking us to this point, 300 pages into his analysis," Lessig "fails to deliver," and his proposals are both "impractical and politically unattainable." David Post argues that Lessig shows that "free culture" has always been a part of our intellectual heritage and illumi... | https://en.wikipedia.org/wiki?curid=553671 |
Postmaterialism In sociology, postmaterialism is the transformation of individual values from materialist, physical, and economic to new individual values of autonomy and self-expression. The term was popularized by the political scientist Ronald Inglehart in his 1977 book "The Silent Revolution", in which he discovere... | https://en.wikipedia.org/wiki?curid=554950 |
Postmaterialism The third definition of materialism concerns the philosophical argument that matter is the only existing reality. The first concept is sociological, the second is both philosophical and sociological, and the third is philosophical. Depending on which of the three above notions of materialism are being d... | https://en.wikipedia.org/wiki?curid=554950 |
Postmaterialism The theory of intergenerational change is based on two key hypotheses: Inglehart assumed that individuals pursue various goals in something akin to a hierarchical order. While people may universally aspire to freedom and autonomy, the most pressing material needs like hunger, thirst and physical securit... | https://en.wikipedia.org/wiki?curid=554950 |
Postmaterialism On the other hand, cohorts who have experienced sustained high material affluence start to give high priority to values such as individual improvement, personal freedom, citizen input in government decisions, the ideal of a society based on humanism, and maintaining a clean and healthy environment. Toge... | https://en.wikipedia.org/wiki?curid=554950 |
Postmaterialism , General Social Survey, World Values Survey, Eurobarometer, ALLBUS, Turning Points of the Life-Course). The time series in ALLBUS (German General Social Survey) is particularly comprehensive. From 1980 to 1990 the share of "pure post-materialists" increased from 13 to 31 per cent in West Germany. After... | https://en.wikipedia.org/wiki?curid=554950 |
Postmaterialism Recently, the issue of a "second generation of postmaterialism" appearing on the scene of worldwide civil society, to a large extent conceived as their "positive ideological embodiment", has been brought up by cultural scientist Roland Benedikter in his seven-volume book series "Postmaterialismus" (2001... | https://en.wikipedia.org/wiki?curid=554950 |
Secure Mobile Payment Service (SEMOPS) is a project for developing a secure, universal electronic payment service, which allows real time payment transactions independently of the type and value of the purchase. | https://en.wikipedia.org/wiki?curid=558029 |
The Theory of the Leisure Class The Theory of the Leisure Class: An Economic Study of Institutions (1899), by Thorstein Veblen, is a treatise on economics and a detailed, social critique of conspicuous consumption, as a function of social class and of consumerism, derived from the social stratification of people and th... | https://en.wikipedia.org/wiki?curid=562270 |
The Theory of the Leisure Class The Theory of the Leisure Class: An Economic Study of Institutions (1899) presents the evolutionary development of human institutions (social and economic) that shape society, such as how the citizens earn their livelihoods, wherein technology and the industrial arts are the creative for... | https://en.wikipedia.org/wiki?curid=562270 |
The Theory of the Leisure Class Whereas neoclassical economics define people as rational agents who seek utility and maximal pleasure from their economic activities, Veblen perceived people as irrational, economic agents who pursue social status and the prestige inherent to a place in society (class and economic stratu... | https://en.wikipedia.org/wiki?curid=562270 |
The Theory of the Leisure Class Moreover, "The Theory of the Leisure Class" is a socio-economic treatise that resulted from Veblen's observation and perception of the United States as a society of rapidly developing economic and social institutions. Critics of his reportage about the sociology and economics of the cons... | https://en.wikipedia.org/wiki?curid=562270 |
The Theory of the Leisure Class In a stratified society, the division of labour inherent to the barbarian culture of conquest, domination, and exploitation featured labour-intensive occupations for the conquered people, and light-labour occupations for the conquerors, who thus became "the leisure class". Moreover, it w... | https://en.wikipedia.org/wiki?curid=562270 |
The Theory of the Leisure Class During the Mediæval period (5th c. – 15th c.) only land-owning noblemen had the right to hunt and to bear arms as soldiers; status and income were parallel. Likewise, in contemporary society, skilled labourers of the working class usually are paid an income, in wages, that is inferior to... | https://en.wikipedia.org/wiki?curid=562270 |
The Theory of the Leisure Class In the late 19th century, with "The Theory of the Leisure Class: An Economic Study in the Evolution of Institutions" (1899), Thorstein Veblen introduced, described, and explained the concepts of “conspicuous consumption” and of “conspicuous leisure” to the nascent, academic discipline of... | https://en.wikipedia.org/wiki?curid=562270 |
The Theory of the Leisure Class The leisure class is composed of people exempted from manual work and from practicing economically productive occupations, because they belong to the leisure class. “The emergence of a leisure class coincides with the beginning of ownership” initially based upon marriage as a form of own... | https://en.wikipedia.org/wiki?curid=562270 |
The Theory of the Leisure Class In doing so, the working classes seek to emulate the standards of life and play of the leisure class, because they are the people "at the head of the social structure in point of reputability". In that emulation of the leisure class, social manners are a result of the non-productive, con... | https://en.wikipedia.org/wiki?curid=562270 |
The Theory of the Leisure Class In a consumer society, the function of clothes is to define the wearer as a man or a woman who belongs to a given social class, not for protection from the environment. Clothing also indicates that the wearer’s livelihood does not depend upon economically productive labour, such as farmi... | https://en.wikipedia.org/wiki?curid=562270 |
The Theory of the Leisure Class In pursuit of social advancement, and concomitant social prestige, the man and the woman who rid themselves of scruple and honesty will more readily rise into a stratum of the leisure class. As owners of the means of production, the leisure class benefit from, but do not work in, the ind... | https://en.wikipedia.org/wiki?curid=562270 |
The Theory of the Leisure Class The existence, function, and practice of religion in a socially-stratified society, is a form of abstract conspicuous consumption for and among the members of the person’s community, of devotion to the value system that justifies the existence of his or her social class. As such, attendi... | https://en.wikipedia.org/wiki?curid=562270 |
The Theory of the Leisure Class ) are not greatly respected to the same degree, because the contemporary university is a leisure-class institution. In "The Theory of the Leisure Class: An Economic Study of Institutions" (1899), Thorstein Veblen used idiosyncratic and satirical language to present the consumerist mores ... | https://en.wikipedia.org/wiki?curid=562270 |
The Theory of the Leisure Class The publishing success of "The Theory of the Leisure Class: An Economic Study in the Evolution of Institutions" (1899) derived from the fidelity, accuracy, and veracity of Thorstein Veblen's reportage of the social and economic behavior of American society; yet, some contemporaries consi... | https://en.wikipedia.org/wiki?curid=562270 |
The Theory of the Leisure Class That, despite social classes being alike in most stratified societies, the novelty of the American social-class system was that the leisure class had only recently appeared in U.S. history. Howells concluded the book review by calling upon a novelist to translate into fiction the message... | https://en.wikipedia.org/wiki?curid=562270 |
The Theory of the Leisure Class In the Introduction to the 1934 edition of the book, the economist Stuart Chase said that the Great Depression (ca. 1929–41) had vindicated Veblen as an economist, because "The Theory of the Leisure Class" had unified "the outstanding economists of the world." In the Foreword to the 1953... | https://en.wikipedia.org/wiki?curid=562270 |
The Theory of the Leisure Class Among the arguments are Veblen's dismissal of the rational-expectation theories that predominate classical economics, and that the American leisure-class risk becoming irrelevant to the economy if they do not work. The historian of economics Robert Heilbroner said that Veblen's social an... | https://en.wikipedia.org/wiki?curid=562270 |
The Theory of the Leisure Class About the limited social-utility and economic non-productivity of the business social-class, the American business entrepreneur Warren Buffett said that non-productive financial activities, such as day trading (speculative buying-and-selling of financial securities) and arbitrage (manipu... | https://en.wikipedia.org/wiki?curid=562270 |
Marginal propensity to save The marginal propensity to save (MPS) is the fraction of an increase in income that is not spent and instead used for saving. It is the slope of the line plotting saving against income. For example, if a household earns one extra dollar, and the marginal propensity to save is 0.35, then of t... | https://en.wikipedia.org/wiki?curid=570963 |
Marginal propensity to save Mathematically, in a closed economy, MPS + MPC = 1, since an increase in one unit of income will be either consumed or saved. In the above example, If MPS = 0.4, then MPC = 1 - 0.4 = 0.6. Generally, it is assumed that value of marginal propensity to save for the richer is more than the margi... | https://en.wikipedia.org/wiki?curid=570963 |
Marginal propensity to save This next round of consumption leads to a further change in production, which generates even more income, and which induces even more consumption. And thus, as it goes on and on, it results in a magnified, multiplied change in aggregate production initially triggered by a change in autonomou... | https://en.wikipedia.org/wiki?curid=570963 |
Marginal propensity to save 2, then multiplier effect is 5, and if MPS = 0.4, then the multiplier effect is 2.5. Thus, we can see that a lower propensity to save implies a higher multiplier effect. | https://en.wikipedia.org/wiki?curid=570963 |
Marginal propensity to consume In economics, the marginal propensity to consume (MPC) is a metric that quantifies induced consumption, the concept that the increase in personal consumer spending (consumption) occurs with an increase in disposable income (income after taxes and transfers). The proportion of disposable i... | https://en.wikipedia.org/wiki?curid=571001 |
Marginal propensity to consume If you decide to spend $400 of this marginal increase in income on a new business suit, your marginal propensity to consume will be 0.8 (formula_14). The marginal propensity to consume is measured as the ratio of the change in consumption to the change in income, thus giving us a figure b... | https://en.wikipedia.org/wiki?curid=571001 |
Marginal propensity to consume In theory one might think that higher interest rates would induce more saving (the substitution effect) but higher interest rates also mean than people do not have to save as much for the future. Economists often distinguish between the marginal propensity to consume out of permanent inco... | https://en.wikipedia.org/wiki?curid=571001 |
Marginal propensity to consume The multiplier can also be derived from MPS (marginal propensity to save) and it is the reciprocal of MPS, formula_31 The above table shows that the size of the multiplier varies directly with the MPC and inversely with the MPS. Since the MPC is always greater than zero and less than one ... | https://en.wikipedia.org/wiki?curid=571001 |
Marginal propensity to consume Its value is assumed to be positive and less than unity which means that when income increases the whole of it is not spent on consumption. On the contrary, when income falls, consumption expenditure does not decline in the same proportion and never becomes zero. The Keynesian hypothesis ... | https://en.wikipedia.org/wiki?curid=571001 |
Marginal propensity to consume The marginal propensity to save of the richer classes is greater than that of the poorer classes. If, at any time, it is desired to increase aggregate consumption, then the purchasing power should be transferred from the richer classes (with low propensity to consume) to the poorer classe... | https://en.wikipedia.org/wiki?curid=571001 |
Marginal propensity to consume However, individuals have an MPC, and furthermore MPC is not homogeneous across society. Even if it was, the nature of the consumption is not homogeneous. Some consumption may be seen as more benevolent (to the economy) than others. Therefore, spending could be targeted where it would do ... | https://en.wikipedia.org/wiki?curid=571001 |
Marginal propensity to consume These types of businesses are themselves likely to have a high MPC, and again the nature of their consumption is likely to be in the same, or next tier of businesses, and also of a benevolent nature. Other individuals with a high, and benevolent, MPC would include almost anyone on a low i... | https://en.wikipedia.org/wiki?curid=571001 |
Bullionism is an economic theory that defines wealth by the amount of precious metals owned. is an early or primitive form of mercantilism. It was derived, in the 16th century, from the observation that the English state, because of its large trade surplus, possessed large amounts of gold and silver—bullion—despite the... | https://en.wikipedia.org/wiki?curid=573156 |
Bullionism To ban the flow of exchange rates, he demanded the strict fixing of exchange rates for coins, only by the concentration of precious metals and weights, and for strict regulation and monitoring of foreign trade. He failed, however, to convince his contemporaries “...that the cambists were responsible for gold... | https://en.wikipedia.org/wiki?curid=573156 |
Future value is the value of an asset at a specific date. It measures the nominal future sum of money that a given sum of money is "worth" at a specified time in the future assuming a certain interest rate, or more generally, rate of return; it is the present value multiplied by the accumulation function. The value doe... | https://en.wikipedia.org/wiki?curid=578327 |
Future value If one wants to compare their change in purchasing power, then they should use the real interest rate (nominal interest rate minus inflation rate). The operation of evaluating a present value into the future value is called capitalization (how much will $100 today be worth in 5 years?). The reverse operati... | https://en.wikipedia.org/wiki?curid=578327 |
Future value Indeed, the Future Value in this case grows linearly (it's a linear function of the initial investment): it doesn't take into account the fact that the interest earned might be compounded itself and produce further interest (which corresponds to an exponential growth of the initial investment -see below-).... | https://en.wikipedia.org/wiki?curid=578327 |
Future value If the compounding frequency is annual, "n" will be 1, and to get the annual interest rate (which may be referred to as the effective interest rate, or the annual percentage rate), the formula can be simplified to: where "r" is the annual rate, "i" the periodic rate, and "n" the number of compounding perio... | https://en.wikipedia.org/wiki?curid=578327 |
Future value This formula gives the future value (FV) of an ordinary annuity (assuming compound interest): where "r" = interest rate; "n" = number of periods. The simplest way to understand the above formula is to cognitively split the right side of the equation into two parts, the payment amount, and the ratio of comp... | https://en.wikipedia.org/wiki?curid=578327 |
Theory of Games and Economic Behavior Theory of Games and Economic Behavior, published in 1944 by Princeton University Press, is a book by mathematician John von Neumann and economist Oskar Morgenstern which is considered the groundbreaking text that created the interdisciplinary research field of game theory. In the i... | https://en.wikipedia.org/wiki?curid=578469 |
Goods In economics, goods are materials that satisfy human wants and provide utility, for example, to a consumer making a purchase of a satisfying product. A common distinction is made between goods that are tangible property, and services, which are non-physical. A good may be a consumable item that is useful to peopl... | https://en.wikipedia.org/wiki?curid=580039 |
Goods Commercial and personal goods as categories are very broad and cover almost everything a person sees from the time they wake up in their home, on their commute to work to their arrival at the workplace. Commodities may be used as a synonym for economic goods but often refer to marketable raw materials and primary... | https://en.wikipedia.org/wiki?curid=580039 |
Goods A tangible good like an apple differs from an intangible good like information due to the impossibility of a person to physically hold the latter, whereas the former occupies physical space. Intangible goods differ from services in that final (intangible) goods are transferable and can be traded, whereas a servic... | https://en.wikipedia.org/wiki?curid=580039 |
Goods The degree to which a good is a substitute or a complement depends on its relationship to other goods, rather than an intrinsic characteristic, and can be measured as cross elasticity of demand by employing statistical techniques such as covariance and correlation. The following chart illustrates the classificati... | https://en.wikipedia.org/wiki?curid=580039 |
Goods While the service (namely, distribution of electrical energy) is a process that remains in its entirety in the ownership of the electric service provider, the goods (namely, electric energy) is the object of ownership transfer. The consumer becomes electric energy owner by purchase and may use it for any lawful p... | https://en.wikipedia.org/wiki?curid=580039 |
Rogue Trader (book) Rogue Trader: How I Brought Down Barings Bank and Shook the Financial World is a book by Nick Leeson, who served four years in prison for fraud after bankrupting the London-based Barings Bank in 1995 by hiding $1.4 billion in debt he accumulated as a derivatives trader in Singapore. The book was rel... | https://en.wikipedia.org/wiki?curid=583761 |
Big push model The big push model is a concept in development economics or welfare economics that emphasizes that a firm's decision whether to industrialize or not depends on its expectation of what other firms will do. It assumes economies of scale and oligopolistic market structure and explains when industrialization... | https://en.wikipedia.org/wiki?curid=585841 |
Big push model " Rosenstein-Rodan argued that the entire industry which is intended to be created should be treated and planned as a massive entity (a firm or trust). He supports this argument by stating that the social marginal product of an investment is always different from its private marginal product, so when a g... | https://en.wikipedia.org/wiki?curid=585841 |
Big push model Therefore, heavy initial investment necessarily needs to be made in social overhead capital (this is approximated to be about 30 to 40 percent of the total investment undertaken by underdeveloped countries). Social overhead capital is further characterized by four indivisibilities: Developing countries a... | https://en.wikipedia.org/wiki?curid=585841 |
Big push model The situation may be different in an open economy as the output of the new industry may replace former imports or possibly find its market by way of exports. But even if the world market acts as a substitute for domestic demand, a big push is still needed (though its required size may now be reduced due ... | https://en.wikipedia.org/wiki?curid=585841 |
Big push model However, a modern sector would require some of the workers (say formula_5) to perform administrative tasks. In figure 1, the x-axis represents the labor employed and the y-axis represents the level of production. The production in the traditional sector is given by the curve T and the production in the m... | https://en.wikipedia.org/wiki?curid=585841 |
Big push model We have two possible cases: The concept of externalities is relevant for the Industrialization of underdeveloped countries, where decisions are to be made regarding distribution of savings among alternative investment opportunities. These arise from the interdependence in market economies. Pecuniary econ... | https://en.wikipedia.org/wiki?curid=585841 |
Big push model There exists an incentive to expand the scale of operations because the employees of one industry become the customers of another industry. In terms of products too (as in the above example of industries X and Y), one industry generates demand for the output of the other when the scale of operations incr... | https://en.wikipedia.org/wiki?curid=585841 |
Big push model Many investments are profitable in terms of social marginal net product but not in terms of private marginal net product. Due to this there is no incentive for individual entrepreneurs to invest and take advantage of external economies. The theory has been criticized by Hla Myint and Celso Furtado, among... | https://en.wikipedia.org/wiki?curid=585841 |
Harris–Todaro model The Harris–Todaro model, named after John R. Harris and Michael Todaro, is an economic model developed in 1970 and used in development economics and welfare economics to explain some of the issues concerning rural-urban migration. The main assumption of the model is that the migration decision is ba... | https://en.wikipedia.org/wiki?curid=585882 |
Harris–Todaro model The formal statement of the equilibrium condition of the is as follows: Rural to urban migration will take place if: Conversely, urban to rural migration will occur if: At equilibrium, With the random matching of workers to available jobs, the ratio of available jobs to total job seekers gives the p... | https://en.wikipedia.org/wiki?curid=585882 |
Law of demand In microeconomics, the law of demand states that, "conditional on all else being equal, as the price of a good increases (↑), quantity demanded decreases (↓); conversely, as the price of a good decreases (↓), quantity demanded increases (↑)". In other words, the law of demand describes an inverse relation... | https://en.wikipedia.org/wiki?curid=588606 |
Law of demand The above equation, when plotted with quantity demanded (formula_2) on the "formula_3"-axis and price (formula_4) on the formula_12-axis, gives the demand curve, which is also known as the demand schedule. The downward sloping nature of a typical demand curve illustrates the inverse relationship between q... | https://en.wikipedia.org/wiki?curid=588606 |
Law of demand Due to the law's general agreement with observation, economists have come to accept the validity of the law under most situations. Furthermore, researchers found that the success of the law of demand extends to animals such as rats, under laboratory settings. Generally the amount demanded of a good increa... | https://en.wikipedia.org/wiki?curid=588606 |
Law of demand Similarly, if the household expects the price of the commodity to decrease, it may postpone its purchases. Thus, some argue that the law of demand is violated in such cases. In this case, the demand curve does not slope down from left to right; instead it presents a backward slope from the top right to do... | https://en.wikipedia.org/wiki?curid=588606 |
Representative agent Economists use the term representative agent to refer to the typical decision-maker of a certain type (for example, the typical consumer, or the typical firm). More technically, an economic model is said to have a representative agent if all agents of the same type are identical. Also, economists s... | https://en.wikipedia.org/wiki?curid=591523 |
Representative agent The derived individual demand or supply curves are then used as the corresponding aggregate demand or supply curves. Since it has been shown that the commonly used demand functions do not aggregate to representative agents, the implications of representative agents models need not, and are unlikely... | https://en.wikipedia.org/wiki?curid=591523 |
Representative agent In such a model, an economist could analyze a policy change by recalculating the decision problem of each agent under the new policy, then aggregating these decisions to calculate the macroeconomic effects of the change. Lucas' influential argument convinced many macroeconomists to build microfound... | https://en.wikipedia.org/wiki?curid=591523 |
Representative agent "" In his view, the representative agent ""deserves a decent burial, as an approach to economic analysis that is not only primitive, but fundamentally erroneous."" A possible alternative to the representative agent approach to economics could be agent-based simulation models which are capable of de... | https://en.wikipedia.org/wiki?curid=591523 |
Alasdair MacIntyre Alasdair Chalmers MacIntyre (; born 1929) is a Scottish philosopher, primarily known for his contribution to moral and political philosophy, but also known for his work in history of philosophy and theology. MacIntyre's "After Virtue" (1981) is widely recognised as one of the most important works of ... | https://en.wikipedia.org/wiki?curid=595344 |
Alasdair MacIntyre He has held the following positions: He has also been a visiting professor at Princeton University, and is a former president of the American Philosophical Association. In 2010, he was awarded the Aquinas Medal by the American Catholic Philosophical Association. From 2000 he was the Rev. John A. O'Br... | https://en.wikipedia.org/wiki?curid=595344 |
Alasdair MacIntyre Although he largely aims to revive an Aristotelian moral philosophy based on the virtues, he claims a "peculiarly modern understanding" of this task. This "peculiarly modern understanding" largely concerns MacIntyre's approach to moral disputes. Unlike some analytic philosophers who try to generate m... | https://en.wikipedia.org/wiki?curid=595344 |
Alasdair MacIntyre By contrast, MacIntyre attempts to reclaim more modest forms of moral rationality and argumentation which claim neither finality nor logical certainty, but which can hold up against relativistic or emotivist denials of any moral rationality whatsoever (the mistaken conclusion of Nietzsche, Sartre, an... | https://en.wikipedia.org/wiki?curid=595344 |
Alasdair MacIntyre " However, after reading the works of Thomas Kuhn and Imre Lakatos on philosophy of science and epistemology, MacIntyre was inspired to change the entire direction of his thought, tearing up the manuscript he had been working on and deciding to view the problems of modern moral and political philosop... | https://en.wikipedia.org/wiki?curid=595344 |
Alasdair MacIntyre " Although MacIntyre's treatment of traditions is quite complex he does give a relatively concise definition: "A tradition is an argument extended through time in which certain fundamental agreements are defined and redefined" in terms of both internal and external debates. Much of "Whose Justice? Wh... | https://en.wikipedia.org/wiki?curid=595344 |
Alasdair MacIntyre MacIntyre's account also defends three further theses: first, that all rational human inquiry is conducted whether knowingly or not from within a tradition; second, that the incommensurable conceptual schemes of rival traditions do not entail either relativism or perspectivism; third, that although t... | https://en.wikipedia.org/wiki?curid=595344 |
Alasdair MacIntyre His critique in chapter IX of Nietzsche's and Foucault's genealogical mode as implicitly committed to an emancipatory and continuous notion of self which they cannot account for on their own terms has been of particular influence. While "After Virtue" attempted to give an account of the virtues exclu... | https://en.wikipedia.org/wiki?curid=595344 |
Alasdair MacIntyre It will be a central thesis of this book that the virtues that we need, if we are to develop from our animal condition into that of independent rational agents, and the virtues that we need, if we are to confront and respond to vulnerability and disability both in ourselves and in others, belong to o... | https://en.wikipedia.org/wiki?curid=595344 |
Alasdair MacIntyre Being a good person is not about seeking to follow formal rules. In elaborating this approach, MacIntyre understands himself to be reworking the Aristotelian idea of an ethical teleology. MacIntyre emphasises the importance of moral goods defined in respect to a community engaged in a 'practice'—whic... | https://en.wikipedia.org/wiki?curid=595344 |
Alasdair MacIntyre Politically, MacIntyre's ethics informs a defence of the Aristotelian 'goods of excellence' internal to practices against the modern pursuit of 'external goods', such as money, power, and status, that are characteristic of rule-based, utilitarian, Weberian modern institutions. He has been described a... | https://en.wikipedia.org/wiki?curid=595344 |
Alasdair MacIntyre In the 1950s/1960s, MacIntyre was a member of the Communist Party of Great Britain (leaving in 1956), briefly of the Socialist Labour League, and later of the Socialist Review Group/International Socialists. MacIntyre converted to Roman Catholicism in the early 1980s, and now does his work against th... | https://en.wikipedia.org/wiki?curid=595344 |
Alasdair MacIntyre Fuller accounts of MacIntyre's view of the relationship between philosophy and religion in general and Thomism and Catholicism in particular can be found in his essays "Philosophy recalled to its tasks" and "Truth as a good" (both found in the collection "The Tasks of Philosophy") as well as in the s... | https://en.wikipedia.org/wiki?curid=595344 |
Subsets and Splits
No community queries yet
The top public SQL queries from the community will appear here once available.