Positive Feedbacks in the Economy A new economic theory elucidates mechanisms whereby small chance events early in the history of an industry or technology can tilt the competitive balance by W. Brian Arthur onventional economic theory is built on the assumption of diminishing renrrns. Economic actions engender a negative feedback that leads to a predictable equilibrium for prices and market shares. Such feedback tends to stabilize the economy because any major changes will
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The impacts of Information Technology in the Economy are not an issue that can be fully covered in a presentation or a research work. This subject includes a lot of aspects and dimensions and has stimulated the interest of researchers‚ research centres and international organisations the last 30 years. As far as the evaluation of the impacts of Information and Communication technologies in the Economy are concerned‚ the multidimensional character is also accompanied by different points of view
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Malaysian Economy The Malaysian economy is expected to strengthen further and projected to grow at a faster rate of 4.5% to 5.5% in 2013 supported by improving exports and strong domestic demand. In the Economic Report 2012/2013 released by the Ministry of Finance (MoF) last Friday‚ it said the assumption was based on the global growth that will pick up especially during the second-half of 2013 (2H13). It said that it was also premised upon the expectation of an improvement in the resolution
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Development of the Japanese Economy ― Development‚ Japanese/Asian Style ― For Students in the EDP&M Program April 2007 Shigeru T. Otsubo* GSID‚ Nagoya University (w/ inputs from Prof. A.Furukawa‚ Ritsumeikan Univ.) For Students in the Economic Development Policy and Management Program Prof. Shigeru T. OTSUBO The purpose of this presentation is four-fold: 1) to introduce the macroeconomic development process of the postwar Japanese economy (the so-called “Miracle Recovery”); 2) to explore
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THE CONS OF THE NIGERIAN ECONOMY Nigeria boasts one of the fastest-growing economies in the world‚ with Gross Domestic Product growth rates above 6% every year since 2003. Home to more than 170 million people‚ it is the most populous country in Africa and the seventh most populated country in the world. The United Nations has projected its population could rise into the top three by 2050‚ potentially overtaking the United States. Unfortunately‚ Nigeria also has a tragic history of conflicts and
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Economies Traditional Economy‚ Command Economy & Market Economy Traditional Economy Definition A traditional economy is an economic system where customs‚ traditions and beliefs determine the goods and services created by the society. It is dependent on agriculture‚ hunting and gathering‚ fishing or any combination of the above. Also called a subsistence economy‚ it may involve use of barter trade instead of currency. Characteristics Traditional economies are often based on one
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STRUCTURE OF THE WORLD ECONOMY Outline of a Simple Input-Output Formulation* Nobel Memorial Lecture‚ December 11‚ 1973 by WA S S I L Y LE O N T I E F Harvard University‚ Cambridge‚ Massachusetts‚ USA. I The world economy‚ like the economy of a single country‚ can be visualized as a system of interdependent processes. Each process‚ be it the manufacture of steel‚ the education of youth or the running of a family household‚ generates certain outputs and absorbs a specific combination of inputs
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No.1 The slow growth of Chinese exports trade as the gloomy world economy.（出口） Recently‚ changes of the demography‚ the factor price‚ supply and environmental protection will increase the cost of Chinese exports. On the other hands‚ the recovery of the U.S economic remains slow‚ also the continuing escalation of the European debt crisis and the slow recovery of the global economy leading the result of the slow growth of Chinese export trade. Facing the situation‚ Chinese government should do
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Geo-economy – object‚ essence‚ goals/ objectives and methods. Geo-economy studies the state’s strategies and international production rates that assure its economic development. Geo-economy appeared in the late 20th century as a result of world’s political changes. Geo-economy appeared due to the following factors: • Globalization and regionalization; • Economic integration; • Labour division; • Scientific revolution; • Collapse of Soviet union. Geo-economy
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Importance of Agriculture in Indian Economy The direct contribution of the agriculture sector to national economy is reflected by its share in total GDP‚ its foreign exchange earnings‚ and its role in supplying savings and labor to other sectors. Agriculture and allied sectors like forestry and fishing accounted for 18.5 percent of total Indian Gross Domestic Product (GDP) in 2005-06 (at 1999-2000 constant prices) and employed about 58 percent of the country’s workforce (CSO‚ 2007). It
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