goods) and‚ subsequently‚ reduced production by businesses. FACTORS THAT SHAPE BUSINESS CYCLES For centuries‚ economists in both the United States and Europe regarded economic downturns as "diseases" that had to be treated; it followed‚ then‚ that economies characterized by growth and affluence were regarded as "healthy" economies. By the end of the 19th century‚ however‚ many economists had begun to recognize that economies were cyclical by their very nature‚ and studies increasingly turned to determining
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self-improvement guide! But often‚ the "do-it-yourselfer" will say that he is doing the work to "save money." "Look‚" he’ll tell you‚ "it would have cost me $5‚000 to get my roof done professionally. I managed to do it for only $1‚000 in materials." An economist is able to point out that his calculation is faulty‚ and that he may have acted contrary to his own purpose. He has not taken into account the cost of his foregone opportunities. If the job took him 100 hours‚ and he could have put this time in at
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Public Interest‚ 21‚ Fall‚ 94-107. Szacki‚ Jerzy‚ 1982‚ "The History of Sociology and Substantive Sociological Theories" in T. Bottomore‚ S. Nowak‚ M. Sokolowska‚ Sociology‚ the State of the Art‚ London Sage‚ 359-374. Szenberg‚ Michael‚ 1992‚ Eminent Economists‚ Their Life Philosophies‚ Cambridge University Press. Tilly‚ Charles‚ 1981‚ As Sociology Meets History‚ N.Y. Academic Press. Tilly‚ Charles‚ 1984‚ Big Structures‚ Large Processes‚ Huge Comparisons‚ N.Y.‚ Russel Sage Foundation. Turner‚ R.H.‚ 1991
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TM Democracy index 2011 Democracy under stress A report from the Economist Intelligence Unit www.eiu.com Democracy Index 2011 Democracy under stress The Economist Intelligence Unit’s Index of Democracy 2011 Democracy under stress This is the fourth edition of the Economist Intelligence Unit’s Democracy index. It reflects the situation as of the beginning of December 2011. The first edition‚ published in The Economist’s The World in 2007‚ measured the state of democracy in September
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Zimbabwe: A worthless currency | The Economist http://www.economist.com/node/11751346/print Zimbabwe A worthless currency The local dollar is fast shrivelling away Jul 17th 2008 | JOHANNESBURG | from the print edition WITH prices doubling every few days‚ Zimbabweans now spend huge amounts of time and energy preventing their meagre cash resources from completely evaporating. Trying to catch up with galloping hyperinflation‚ now officially running at 2.2m per cent a year and at least
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Unemployment and inflation are two intricately linked economic concepts. Over the years there have been a number of economists trying to interpret the relationship between the concepts of inflation and unemployment. There are two possible explanations of this relationship – one in the short term and another in the long term. In the short term there is an inverse correlation between the two. As per this relation‚ when the unemployment is on the higher side‚ inflation is on the lower side and the inverse
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to allocation of resources. Within the study of that social science are many theories in which economists attempt to explain the movement of prices and production‚ goods and services. In determining this‚ economists come up with many theories‚ but some don ’t have a very good connection with the real world. One of the more prevalent topics under discussion has been that of profit maximization. Economists use this theory to explain how firms set prices for particular goods or services. The idea behind
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Prof. Mohammad Moghadassian Econ 2301 February 29‚ 2012 Writing Assignment Section 1: 1. Equilibrium Price Qs = Qd QUANTITY SUPPLIED P = 2 + 0.2Qs P - 2 = 0.2Qs (P - 2)/0.2 = Qs QUANTITY DEMAND P = 10 - 0.2Qd 0.2Qd = 10 - P Qd = (10 - P)/0.2 (P - 2)/0.2 = (10 - P)/0.2 P - 2 = 10 - P P + P = 10 + 2 2P = 12 P = 6 2. Equilibrium quantity 6 = 2 + 0.2Qs 6 - 2 = 0.2Qs 4 = 0.2Qs 4/0.2 = Qs Qs = 20 6 = 10 - 0.2Qd 0.2Qd = 10 - 6 0.2Qd = 4 Qd = 4/0.2 Qd = 20 3.
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Introduction John Maynard Keynes was a brilliant economist. Keynes is considered to be one of the founders of modern macroeconomics‚ and to be the most influential economist of the 20th century. In 1999‚ Times magazine included Keynes in their list of the 100 most important and influential people of the 20th century‚ stating that‚ "His radical idea that governments should spend money they don’t have may have saved capitalism." In addition to being an economist‚ Keynes was also a civil servant‚ a director
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that have been enshrined for many years? Economists are split on the debate of what will happen in the coming years for the United States economic system. I believe that the principles and ideas of capitalism‚ free markets‚ and laissez-faire will never change as they are defined in history‚ however‚ I believe the argument that the United States may eventually go bankrupt and government and the economy as we know it would seize to exist. PhD economist Marc Faber‚ who accurately predicted the
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