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Luigi Einaudi Luigi Einaudi, (; 24 March 1874 – 30 October 1961) was an Italian politician and economist. He served as the second President of Italy between 1948 and 1955. Einaudi was born to Lorenzo and Placida Fracchia in Carrù, in the province of Cuneo, Piedmont. In Turin he attended Liceo classico Cavour and comple... | https://en.wikipedia.org/wiki?curid=775026 |
Luigi Einaudi Einaudi was Governor of the Bank of Italy from 5 January 1945 until 11 May 1948, and was also a founding member of the Consulta Nazionale which opened the way to the new Parliament of the Italian Republic after World War II. Later he was Minister of Finances, Treasury and Balance, as well as Vice-Premier,... | https://en.wikipedia.org/wiki?curid=775026 |
Luigi Einaudi The Mario Einaudi Center For International Studies is named after him. Additionally, Mario founded the Fondazione in Turin in honor of his father. Also the research center of the Bank of Italy, the Einaudi Institute for Economics and Finance (EIEF), is named in honor of Luigi Einaudi. | https://en.wikipedia.org/wiki?curid=775026 |
Market liberalism The term market liberalism is used in two distinct ways. In the United States, the term is used as a synonym to classical liberalism. In this sense, market liberalism depicts a political ideology, combining a market economy with personal liberty and human rights in contrast to social liberalism which ... | https://en.wikipedia.org/wiki?curid=777087 |
Double default occurs in banking, when the obligor and the guarantor fail to meet their obligations. | https://en.wikipedia.org/wiki?curid=780410 |
Finance charge In United States law, a finance charge is any fee representing the cost of credit, or the cost of borrowing. It is interest accrued on, and fees charged for, some forms of credit. It includes not only interest but other charges as well, such as financial transaction fees. Details regarding the federal de... | https://en.wikipedia.org/wiki?curid=786961 |
Standard Occupational Classification System The Standard Occupational Classification (SOC) System is a United States government system of classifying occupations. It is used by U.S. federal government agencies collecting occupational data, enabling comparison of occupations across data sets. It is designed to cover all... | https://en.wikipedia.org/wiki?curid=787561 |
Economic power Economists use several concepts featuring the word power: Scholars of international relations also refer to the economic power of a country as a factor influencing its power in international relations. | https://en.wikipedia.org/wiki?curid=788900 |
Arbitrage pricing theory In finance, arbitrage pricing theory (APT) is a general theory of asset pricing that holds that the expected return of a financial asset can be modeled as a linear function of various factors or theoretical market indices, where sensitivity to changes in each factor is represented by a factor-s... | https://en.wikipedia.org/wiki?curid=793367 |
Arbitrage pricing theory For a set of assets with returns formula_12, factor loadings formula_13, and factors formula_14, a general factor model that is used in APT is:formula_15where formula_16 follows a multivariate normal distribution. In general, it is useful to assume that the factors are distributed as:formula_17... | https://en.wikipedia.org/wiki?curid=793367 |
Arbitrage pricing theory The asset price today should equal the sum of all future cash flows discounted at the APT rate, where the expected return of the asset is a linear function of various factors, and sensitivity to changes in each factor is represented by a factor-specific beta coefficient. A correctly priced asse... | https://en.wikipedia.org/wiki?curid=793367 |
Arbitrage pricing theory In some ways, the CAPM can be considered a "special case" of the APT in that the securities market line represents a single-factor model of the asset price, where beta is exposed to changes in value of the market. A disadvantage of APT is that the selection and the number of factors to use in t... | https://en.wikipedia.org/wiki?curid=793367 |
Arbitrage pricing theory As a result, this issue is essentially empirical in nature. Several "a priori" guidelines as to the characteristics required of potential factors are, however, suggested: Chen, Roll and Ross identified the following macro-economic factors as significant in explaining security returns: As a prac... | https://en.wikipedia.org/wiki?curid=793367 |
List of important publications in economics This is a list of important publications in economics, organized by field. Some reasons why a particular publication might be regarded as important: Description: The book is usually considered to be the beginning of modern economics. It begins with a discussion of the Industr... | https://en.wikipedia.org/wiki?curid=799398 |
List of important publications in economics Importance: Breakthrough, Influence Description: Describes how poverty in the midst of plenty results from unequal rights to use natural resources, and declining wages in the face of increasing labor productivity results from the Law of Rent. Advocated Georgism, specifically ... | https://en.wikipedia.org/wiki?curid=799398 |
List of important publications in economics Among the most important list of publication in macroeconomics are: Description: In this book, Keynes put forward a theory based upon the notion of aggregate demand to explain variations in the overall level of economic activity, such as were observed in the Great Depression.... | https://en.wikipedia.org/wiki?curid=799398 |
List of important publications in economics Importance: Topic creator, Influence The book showed how operationally meaningful theorems can be described with a small number of analogous methods, thus providing "a general theory of economic theories." It moved mathematics out of the appendices (as in John R. Hicks's Valu... | https://en.wikipedia.org/wiki?curid=799398 |
List of important publications in economics Importance: Introduction Description: Importance: Description: In this article, Prospect theory, a descriptive theory of choices under uncertainty, is introduced, bringing together ideas from psychology (framing and probability weighting) and economics (expected utility). Imp... | https://en.wikipedia.org/wiki?curid=799398 |
List of important publications in economics Steady-State Economics (2nd edition, 1991, Island Press) by Herman Daly Natural Capitalism, Paul Hawken Small Is Beautiful, E.F. Schumacher "Economics and Consumer Behavior", Deaton & Muellbauer, Cambridge. Description: Importance: Description: Importance: Description: First ... | https://en.wikipedia.org/wiki?curid=799398 |
List of important publications in economics Advanced readers will appreciate its mathematical rigor. Those who are seeking research or dissertation topics should find this two-volume set to be an invaluable resource. Posner, Richard A. "Economic Analysis of Law." (1973) | https://en.wikipedia.org/wiki?curid=799398 |
George Stigler George Joseph Stigler (; January 17, 1911 – December 1, 1991) was an American economist, the 1982 laureate in Nobel Memorial Prize in Economic Sciences and a key leader of the Chicago School of Economics. Stigler was born in Seattle, Washington, the son of Elsie Elizabeth (Hungler) and Joseph Stigler. He... | https://en.wikipedia.org/wiki?curid=800930 |
George Stigler Stigler is best known for developing the "Economic Theory of Regulation", also known as capture, which says that interest groups and other political participants will use the regulatory and coercive powers of government to shape laws and regulations in a way that is beneficial to them. This theory is a c... | https://en.wikipedia.org/wiki?curid=800930 |
George Stigler " The essay referenced studies that found many goods and services to be inelastic over the long run and offered a supposed theoretical proof; he ended by announcing that his next essay would demonstrate that the price system does not exist. Another essay, "A Sketch on the Truth in Teaching," described th... | https://en.wikipedia.org/wiki?curid=800930 |
George Stigler He cited a partial explanation of black unemployment due to "Lacking education, lacking a tenacity of purpose, lacking a willingness to work hard, he will not be an object of employers' competition". Stigler proposes that the solution to persistent low income and social issues of the black community lies... | https://en.wikipedia.org/wiki?curid=800930 |
Triangle model In macroeconomics, the triangle model employed by new Keynesian economics is a model of inflation derived from the Phillips Curve and given its name by Robert J. Gordon. The model views inflation as having three root causes: built-in inflation, demand-pull inflation, and cost-push inflation. Unlike the e... | https://en.wikipedia.org/wiki?curid=801323 |
Trailing twelve months Trailing Twelve Months (TTM) is a measurement of a company's financial performance (income and expenses) used in finance. It is measured by using the income statements from a company's reports (such as interim, quarterly or annual reports), to calculate the income for the twelve-month period imme... | https://en.wikipedia.org/wiki?curid=801336 |
Trailing twelve months You generate a trailing twelve months figure for each item in the income statement by adding the figure for the reporting period since the company's financial year end to the figure in the annual report and taking off the figure for the matching period the previous year (e.g. 3 months from 1 Jan ... | https://en.wikipedia.org/wiki?curid=801336 |
Comparison of the healthcare systems in Canada and the United States is often made by government, public health and public policy analysts. The two countries had similar healthcare systems before Canada changed its system in the 1960s and 1970s. The United States spends much more money on healthcare than Canada, on bot... | https://en.wikipedia.org/wiki?curid=811714 |
Comparison of the healthcare systems in Canada and the United States One commonly cited comparison, the 2000 World Health Organization's ratings of "overall health service performance", which used a "composite measure of achievement in the level of health, the distribution of health, the level of responsiveness and fai... | https://en.wikipedia.org/wiki?curid=811714 |
Comparison of the healthcare systems in Canada and the United States Canada and the US had similar healthcare systems in the early 1960s, but now have a different mix of funding mechanisms. Canada's universal single-payer healthcare system covers about 70% of expenditures, and the Canada Health Act requires that all in... | https://en.wikipedia.org/wiki?curid=811714 |
Comparison of the healthcare systems in Canada and the United States Princeton University health economist Uwe E. Reinhardt says that single-payer systems are not "socialized medicine" but "social insurance" systems, since providers (such as doctors) are largely in the private sector. Similarly, Canadian hospitals are ... | https://en.wikipedia.org/wiki?curid=811714 |
Comparison of the healthcare systems in Canada and the United States residents have access to health care insurance through employers, although this figure is decreasing, and coverages as well as workers' expected contributions vary widely. Those whose employers do not offer health insurance, as well as those who are s... | https://en.wikipedia.org/wiki?curid=811714 |
Comparison of the healthcare systems in Canada and the United States Although some doctors work on a purely fee-for-service basis (usually family physicians), some family physicians and most specialists are paid through a combination of fee-for-service and fixed contracts with hospitals or health service management org... | https://en.wikipedia.org/wiki?curid=811714 |
Comparison of the healthcare systems in Canada and the United States Albert Schumacher, former president of the Canadian Medical Association, an estimated 75 percent of Canadian healthcare services are delivered privately, but funded publicly. Frontline practitioners whether they're GPs or specialists by and large are ... | https://en.wikipedia.org/wiki?curid=811714 |
Comparison of the healthcare systems in Canada and the United States , the federal government does not guarantee universal healthcare to all its citizens, but publicly funded healthcare programs help to provide for the elderly, disabled, the poor, and children. The Emergency Medical Treatment and Active Labor Act or EM... | https://en.wikipedia.org/wiki?curid=811714 |
Comparison of the healthcare systems in Canada and the United States A 2003 report by the Congressional Budget Office found that many people lack health insurance only temporarily, such as after leaving one employer and before a new job. The number of chronically uninsured (uninsured all year) was estimated at between ... | https://en.wikipedia.org/wiki?curid=811714 |
Comparison of the healthcare systems in Canada and the United States were much less satisfied, less likely to have seen a doctor, and more likely to have been unable to receive desired care than both Canadians and insured Americans. Another cross-country study compared access to care based on immigrant status in Canada... | https://en.wikipedia.org/wiki?curid=811714 |
Comparison of the healthcare systems in Canada and the United States The Canada Health Act covers the services of psychiatrists, who are medical doctors with additional training in psychiatry but does not cover treatment by a psychologist or psychotherapist unless the practitioner is also a medical doctor. Goods and Se... | https://en.wikipedia.org/wiki?curid=811714 |
Comparison of the healthcare systems in Canada and the United States and Canadian systems is waiting times, whether for a specialist, major elective surgery, such as hip replacement, or specialized treatments, such as radiation for breast cancer; wait times in each country are affected by various factors. In the United... | https://en.wikipedia.org/wiki?curid=811714 |
Comparison of the healthcare systems in Canada and the United States " In Canada, unlike in the United States, appointment duration (meeting with physicians) averaged under two (2) minutes. These very fast appointments are a result of physicians attempting to accommodate for the number of patients using the medical sys... | https://en.wikipedia.org/wiki?curid=811714 |
Comparison of the healthcare systems in Canada and the United States A 2009 study found that on average the wait in the United States to see a medical specialist is 20.5 days. In a 2009 survey of physician appointment wait times in the United States, the average wait time for an appointment with an orthopedic surgeon i... | https://en.wikipedia.org/wiki?curid=811714 |
Comparison of the healthcare systems in Canada and the United States For example, 21% of Canadian hospital administrators, but less than 1% of American administrators, said that it would take over three weeks to do a biopsy for possible breast cancer on a 50-year-old woman; 50% of Canadian administrators versus none of... | https://en.wikipedia.org/wiki?curid=811714 |
Comparison of the healthcare systems in Canada and the United States In 2007 Shona Holmes, a Waterdown, Ontario woman who had a Rathke's cleft cyst removed at the Mayo Clinic in Arizona, sued the Ontario government for failing to reimburse her $95,000 in medical expenses. Holmes had characterized her condition as an em... | https://en.wikipedia.org/wiki?curid=811714 |
Comparison of the healthcare systems in Canada and the United States Medicare and Medicaid program overheads (3.6% and 6.8% respectively). The report concluded by observing that gap between U.S. and Canadian spending on administration had grown to $752 per capita and that a large sum might be saved in the United States... | https://en.wikipedia.org/wiki?curid=811714 |
Comparison of the healthcare systems in Canada and the United States In recent decades, managed care has become prevalent in the United States, with some 90% of privately insured Americans belonging to plans with some form of managed care. In "managed care", insurance companies control patients' health care to reduce c... | https://en.wikipedia.org/wiki?curid=811714 |
Comparison of the healthcare systems in Canada and the United States Although Canadians and Americans have each looked to the other for ways to improve their respective health care systems, there exists a substantial amount of conflicting information regarding the relative merits of the two systems. In the U.S., Canada... | https://en.wikipedia.org/wiki?curid=811714 |
Comparison of the healthcare systems in Canada and the United States as opposed to Canada. However, statistics published in 2005 by the Canadian Institute for Health Information (CIHI), show that, for the first time since 1969 (the period for which data are available), more physicians returned to Canada than moved abro... | https://en.wikipedia.org/wiki?curid=811714 |
Comparison of the healthcare systems in Canada and the United States In the U.S., $728 per capita is spent each year on drugs, while in Canada it is $509. At the same time, consumption is higher in Canada, with about 12 prescriptions being filled per person each year in Canada and 10.6 in the United States. The main di... | https://en.wikipedia.org/wiki?curid=811714 |
Comparison of the healthcare systems in Canada and the United States Some generic drugs are thus available on Canadian shelves sooner. The pharmaceutical industry is important in both countries, though both are net importers of drugs. Both countries spend about the same amount of their GDP on pharmaceutical research, a... | https://en.wikipedia.org/wiki?curid=811714 |
Comparison of the healthcare systems in Canada and the United States According to the Health Council of Canada's 2010 report "Decisions, Decisions: Family doctors as gatekeepers to prescription drugs and diagnostic imaging in Canada", the Canadian federal government invested $3 billion over 5 years (2000–2005) in relat... | https://en.wikipedia.org/wiki?curid=811714 |
Comparison of the healthcare systems in Canada and the United States While malpractice costs are significantly higher in the U.S., they make up only a small proportion of total medical spending. The total cost of defending and settling malpractice lawsuits in the U.S. in 2004 was over $28 billion. Critics say that defe... | https://en.wikipedia.org/wiki?curid=811714 |
Comparison of the healthcare systems in Canada and the United States life expectancy and infant mortality are both poor measures of the efficacy of a health care system because they are influenced by many factors that are unrelated to the quality and accessibility of medical care". In 2007, Gordon H. Guyatt et al. cond... | https://en.wikipedia.org/wiki?curid=811714 |
Comparison of the healthcare systems in Canada and the United States Some comparisons suggest that the American system underperforms Canada's system as well as those of other industrialized nations with universal coverage. For example, a ranking by the World Health Organization of health care system performance among 1... | https://en.wikipedia.org/wiki?curid=811714 |
Comparison of the healthcare systems in Canada and the United States The OECD found that Americans have slightly higher rates of smoking and alcohol consumption than do Canadians as well as significantly higher rates of obesity. A joint US-Canadian study found slightly higher smoking rates among Canadians. Another stud... | https://en.wikipedia.org/wiki?curid=811714 |
Comparison of the healthcare systems in Canada and the United States The cancer incidence rate among African Americans is 10% higher than among European Americans. U.S. Latinos have higher rates of death from diabetes, liver disease, and infectious diseases than do non-Latinos. Adult African Americans and Latinos have ... | https://en.wikipedia.org/wiki?curid=811714 |
Comparison of the healthcare systems in Canada and the United States The proper interpretation of cancer statistics has been an important issue for many years. Dr. Barry Kramer of the National Institutes of Health points to the fact that cancer incidence rose sharply over the past few decades as screening became more c... | https://en.wikipedia.org/wiki?curid=811714 |
Comparison of the healthcare systems in Canada and the United States Their analysis indicates that Canada has greater survival rates for both colorectal cancer and childhood leukemia, while the United States has greater survival rates for Non-Hodgkin's lymphoma as well as breast and cervical cancer. A study based on da... | https://en.wikipedia.org/wiki?curid=811714 |
Comparison of the healthcare systems in Canada and the United States found that prostate cancer mortality incidence rate ratios were lower among U.S. whites than among any of the nationalities included in their study, including Canadians. U.S. African Americans in the study had lower rates than any group except for Can... | https://en.wikipedia.org/wiki?curid=811714 |
Comparison of the healthcare systems in Canada and the United States Data for both studies was collected from registries that are members of the North American Association of Central Cancer Registries, an organization dedicated to developing and promoting uniform data standards for cancer registration in North America.... | https://en.wikipedia.org/wiki?curid=811714 |
Comparison of the healthcare systems in Canada and the United States Though few studies have been published concerning the health of Black Canadians, health disparities between whites and African Americans in the U.S. have received intense scrutiny. African Americans in the U.S. have significantly greater rates of canc... | https://en.wikipedia.org/wiki?curid=811714 |
Comparison of the healthcare systems in Canada and the United States The mostly white Cuban population had a neonatal mortality rate (NMR) nearly identical to that found in non-Hispanic whites and a postnatal mortality rate (PMR) that was somewhat lower. The largely Mestizo, Mexican, Central, and South American Hispani... | https://en.wikipedia.org/wiki?curid=811714 |
Comparison of the healthcare systems in Canada and the United States Federal legislation passed since the mid-1980s, particularly COBRA and HIPAA, has been aimed at reducing job lock. However, providers of group health insurance in many states are permitted to use experience rating and it remains legal in the United St... | https://en.wikipedia.org/wiki?curid=811714 |
Comparison of the healthcare systems in Canada and the United States Measures included the introduction of private clinics allowed to bill patients for some of the cost of a procedure, as well as 'boutique' clinics offering tailored personal care for a fixed preliminary annual fee. In the U.S., President Bill Clinton a... | https://en.wikipedia.org/wiki?curid=811714 |
Comparison of the healthcare systems in Canada and the United States US President Donald Trump has declared his intent to repeal the Affordable Care Act, but has failed to do so, thus far. The Canada Health Act of 1984 "does not directly bar private delivery or private insurance for publicly insured services," but prov... | https://en.wikipedia.org/wiki?curid=811714 |
Comparison of the healthcare systems in Canada and the United States Money placed in such accounts is tax-free. To qualify for HSAs, individuals must carry a high-deductible health plan (HDHP). The higher deductible shifts some of the financial responsibility for health care from insurance providers to the consumer. Th... | https://en.wikipedia.org/wiki?curid=811714 |
Jhai Foundation The is a non-profit organisation working mainly in Laos. One of its projects is bringing communication services to rural communities lacking electricity or telephones. To achieve this goal, they have developed the "Jhai PC and Communication System", a solid state, low energy consuming computer that can ... | https://en.wikipedia.org/wiki?curid=811722 |
Price look-up code Price look-up codes, commonly called PLU codes, PLU numbers, PLUs, produce codes, or produce labels, are a system of numbers that uniquely identify bulk produce sold in grocery stores and supermarkets. The codes have been in use since 1990, and over 1400 have been assigned. The codes are administered... | https://en.wikipedia.org/wiki?curid=812527 |
Price look-up code In the future, the 83000 and 84000 series will be used; however, unlike the "9" prefix, the leading "8" will not denote a general category. (At one time, numbers prefixed with "8" were reserved for GMO products, but they were opened for general use after GMO growers didn't use them.) Some PLU code ra... | https://en.wikipedia.org/wiki?curid=812527 |
Price look-up code In addition to illustrations, important factors for collectors are compositions of these stickers and the type of product they are used on. Most popular materials for creating PLU code stickers are plastic film and paper, however cardboard, metallized film, wrapping tissue, and textiles are also know... | https://en.wikipedia.org/wiki?curid=812527 |
Efficiency wage In labor economics, the efficiency wage hypothesis argues that wages, at least in some labour markets, form in a way that is not market-clearing. Specifically, it points to the incentive for managers to pay their employees more than the market-clearing wage in order to increase their productivity or eff... | https://en.wikipedia.org/wiki?curid=817735 |
Efficiency wage Marshallian efficiency wages would make employers pay different wages to workers who are of different efficiency, such that the employer would be indifferent between more efficient workers and less efficient workers. The modern use of the term is quite different and refers to the idea that higher wages ... | https://en.wikipedia.org/wiki?curid=817735 |
Efficiency wage In the Shapiro and Stiglitz model, workers either work or shirk, and if they shirk they have a certain probability of being caught, with the penalty of being fired. Equilibrium then entails unemployment, because in order to create an opportunity cost to shirking, firms try to raise their wages above the... | https://en.wikipedia.org/wiki?curid=817735 |
Efficiency wage Pareto optimality, with costly monitoring, will entail some unemployment, since unemployment plays a socially valuable role in creating work incentives. But the equilibrium unemployment rate will not be Pareto optimal, since firms do not take into account the social cost of the unemployment they help to... | https://en.wikipedia.org/wiki?curid=817735 |
Efficiency wage The seriousness of this employer moral hazard depends on the extent to which effort can be monitored by outside auditors, so that firms cannot cheat, although reputation effects (e.g. Lazear 1981) may be able to do the same job. On the labor turnover flavor of the efficiency wage hypothesis, firms also ... | https://en.wikipedia.org/wiki?curid=817735 |
Efficiency wage There are two crucial assumptions, that firms cannot screen applicants either before or after applying, and that there is costless self-employment available which realises a worker's marginal product (that is higher for the more productive workers). If there are two kinds of firm (low and high wage), th... | https://en.wikipedia.org/wiki?curid=817735 |
Efficiency wage Wage compression makes it profitable for firms to screen applicants under such circumstances, and selection wages may be important. Standard economic models ("neoclassical economics") assume that people pursue only their own self-interest and do not care about "social" goals ("homo economicus"). Some at... | https://en.wikipedia.org/wiki?curid=817735 |
Efficiency wage For example, if an employee has been exceptionally loyal, a manager may feel some obligation to treat that employee well, even when it is not in his (narrowly defined, economic) self-interest to do so. It would appear that although broader, longer-term economic benefits may result (e.g. through reputati... | https://en.wikipedia.org/wiki?curid=817735 |
Efficiency wage Rabin supports his Fact A by Dawes and Thaler's (1988) survey of the experimental literature, which concludes that, for most one-shot public good decisions in which the individually optimal contribution is close to 0%, the contribution rate ranges from 40 to 60% of the socially optimal level. Fact B is ... | https://en.wikipedia.org/wiki?curid=817735 |
Efficiency wage Thus for example firms who raise prices or lower wages to take advantage of increased demand or increased labour supply are frequently perceived as acting unfairly, where the same changes are deemed acceptable when the firm makes them due to increased costs (Kahneman et al.). In other words, in people's... | https://en.wikipedia.org/wiki?curid=817735 |
Efficiency wage The sociological model can explain phenomena inexplicable on neoclassical terms, such as why firms do not fire workers who turn out to be less productive; why piece rates are so little used even where quite feasible; and why firms set work standards exceeded by most workers. A possible criticism is that... | https://en.wikipedia.org/wiki?curid=817735 |
Efficiency wage The union threat model is one of several explanations for industry wage differentials. This Keynesian economics model looks at the role of unions in wage determination. The degree in which union wages exceed non-union member wages is known as union wage premium and some firms seek to prevent unionizatio... | https://en.wikipedia.org/wiki?curid=817735 |
Efficiency wage There is also evidence that other firms emulated Ford’s policy to some extent, with wages in the automobile industry 40% higher than in the rest of manufacturing (Rae 1965, quoted in Raff and Summers). Given low monitoring costs and skill levels on the Ford production line, such benefits (and the decisi... | https://en.wikipedia.org/wiki?curid=817735 |
Efficiency wage " (p344). Charness (1996), quoted in Fehr et al., finds that when signalling is removed (wages are set randomly or by the experimenter), workers exhibit a lower, but still positive, wage-effort relation, suggesting some gain-sharing motive and some reciprocity (where intentions can be signalled). Fehr e... | https://en.wikipedia.org/wiki?curid=817735 |
Efficiency wage To counter a possible criticism of such theories, Fehr and Tougareva (1995) showed these reciprocal exchanges (efficiency-enhancing) are independent of the stakes involved (they compared outcomes with stakes worth a week's income with stakes worth 3 months’ income, and found no difference). As one count... | https://en.wikipedia.org/wiki?curid=817735 |
Efficiency wage The firm's profit formula_5 is Then we assume that the higher the wage of the workers become, the higher the individual productivity: formula_7. If the employment is chosen so that the profit is maximised, it is constant. Under this optimised condition, we have that is, Obviously, the gradient formula_1... | https://en.wikipedia.org/wiki?curid=817735 |
Economic sociology is the study of the social cause and effect of various economic phenomena. The field can be broadly divided into a classical period and a contemporary one, known as "New economic sociology". The classical period was concerned particularly with modernity and its constituent aspects, including rational... | https://en.wikipedia.org/wiki?curid=819720 |
Economic sociology arose as a new approach to the analysis of economic phenomena; emphasizing particularly the role of economic structures and institutions that play upon society, and the influence a society holds over the nature of economic structures and institutions. The relationship between capitalism and modernity... | https://en.wikipedia.org/wiki?curid=819720 |
Economic sociology To this may be added Amitai Etzioni, who has developed the idea of socioeconomics, and Chuck Sabel, Wolfgang Streeck and Michael Mousseau who work in the tradition of political economy/sociology. The focus on mathematical analysis and utility maximisation during the 20th century has led some to see e... | https://en.wikipedia.org/wiki?curid=819720 |
Economic sociology Polanyi's form of market skepticism, however, has been criticized for intensifying rather than limiting the economization of society. A contemporary period of economic sociology, often known as "new economic sociology", was consolidated by the 1985 work of Mark Granovetter titled "Economic Action and... | https://en.wikipedia.org/wiki?curid=819720 |
Economic sociology Socioeconomics deals with the analytical, political and moral questions arising at the intersection between economy and society from a broad interdisciplinary perspective with links beyond sociology to political economy, moral philosophy, institutional economics and history. The Society for the Advan... | https://en.wikipedia.org/wiki?curid=819720 |
Economic sociology Economic Sociology and Political Economy (ES/PE), founded in 2011, is an online scholarly society that gathers researchers interested in economic sociology and related topics. | https://en.wikipedia.org/wiki?curid=819720 |
The Road to Serfdom (German: "Der Weg zur Knechtschaft") is a book written between 1940 and 1943 by Austrian British economist and philosopher Friedrich Hayek. Since its publication in 1944, "The Road to Serfdom" has been an influential and popular exposition of market libertarianism. It has been translated into more t... | https://en.wikipedia.org/wiki?curid=824889 |
The Road to Serfdom The book was first published in Britain by Routledge in March 1944, during World War II, and was quite popular, leading Hayek to call it "that unobtainable book", also due in part to wartime paper rationing. It was published in the United States by the University of Chicago Press in September 1944 a... | https://en.wikipedia.org/wiki?curid=824889 |
The Road to Serfdom S by the University of Chicago Press on September 18, 1944. The American publisher’s expectation was that the book would sell between 900 and 3,000 copies. But the initial printing run of 2,000 copies was quickly sold out, and 30,000 copies were sold within six months. , the University of Chicago Pr... | https://en.wikipedia.org/wiki?curid=824889 |
The Road to Serfdom Hayek argues that Western democracies, including the United Kingdom and the United States, have "progressively abandoned that freedom in economic affairs without which personal and political freedom has never existed in the past". Society has mistakenly tried to ensure continuing prosperity by centr... | https://en.wikipedia.org/wiki?curid=824889 |
The Road to Serfdom Where there is centralized planning, "the individual would more than ever become a mere means, to be used by the authority in the service of such abstractions as the 'social welfare' or the 'good of the community'". Even the very poor have more personal freedom in an open society than a centrally pl... | https://en.wikipedia.org/wiki?curid=824889 |
The Road to Serfdom The only chance to build a decent world is "to improve the general level of wealth" via the activities of free markets. He saw international organization as involving a further threat to individual freedom. He concluded: "The guiding principle that a policy of freedom for the individual is the only ... | https://en.wikipedia.org/wiki?curid=824889 |
The Road to Serfdom The only question here is whether in the particular instance the advantages gained are greater than the social costs they impose. He notes that there are certain areas, such as the environment, where activities that cause damage to third parties (known to economists as "negative externalities") cann... | https://en.wikipedia.org/wiki?curid=824889 |
The Road to Serfdom " Since publication, Hayek has offered a number of clarifications on words that are frequently misinterpreted: , the University of Chicago Press estimated that more than 350,000 copies of "The Road to Serfdom" have been sold. It appears on Martin Seymour-Smith's list of the "100 Most Influential Boo... | https://en.wikipedia.org/wiki?curid=824889 |
The Road to Serfdom One was James Burnham’s The Managerial Revolution ... [A second] Friedrich A. Hayek’s "The Road to Serfdom" ... was far more controversial—and influential. Even more than Burnham, Hayek forced into public discourse the question of the compatibility of democracy and statism ... In responding to Burnh... | https://en.wikipedia.org/wiki?curid=824889 |
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