Economics and Liberating Theory - Part 5 doc

... capital-using and labor- saving or capital-saving and labor-saving, and whether they be socially productive or counterproductive. Can we conclude anything definitive about the effect of any cost-reducing ... good 1 by: (0.1 – 0. 05) w, or (0.1 – 0. 05) (2.3 75) = 0.119. Which means that when the rate of profit in the economy is zero and therefore w = 2.3 75, this new capital-using, la...

Ngày tải lên: 02/07/2014, 21:20

... ECONOMY MACRO ECONOMICS AND IMF CONDITION- ALITY AGREEMENTS In chapters 6 and 7 we learned how aggregate demand explains the causes of some kinds of unemployment and inflation, and studied the ... goods and services available. And besides the demand that comes from the domestic household, business, and government sectors, foreign demand for exports adds to the demand for final...

Ngày tải lên: 02/07/2014, 21:20

... Press, 1991), both by Michael Albert and Robin Hahnel. Other essays about participa- tory economics and a forum where participants discuss and debate participatory economics can be found on the ZNet ... Cole, and Sidney and Beatrice Webb. 9. This model was first presented in The Political Economy of Participatory Economics (Princeton University Press, 1991), and Looking Forw...

Ngày tải lên: 02/07/2014, 21:20

... of supply and demand which is the key to understanding how markets for particular goods and services work. The macro law of supply and demand is the key to understanding how much goods and services ... The old theory was relabeled “micro economics and preserved as the centerpiece of the traditional paradigm, and a new theory called macro economics was created to explain the...

Ngày tải lên: 02/07/2014, 21:20

... a theater, and say there are 100 people and you have the rush-to-the-exit problem. With derivatives, it’s as if without your knowing it, there are another 50 0 people in the theater, and you can’t ... other. Suppose I come and sell my potatoes for money and then my six-year-old breaks his arm running around underneath the vegetable stands, I take him to the emergency room, and by...

Ngày tải lên: 02/07/2014, 21:20

... ∆I: I(2) = 100 + 25 = 1 25 = 200 – 1000r(2); 1 25 – 200 = – 75 = –1000r(2); – 75/ –1000 = 0.0 75 = r(2) So r(2) – r(1) = 0.0 75 – 0.100 = – 0.0 25 = ∆r. We need interest rates to drop by 2 .5% ( 15) Suppose interest ... studied? G (5) /Y (5) = 40/900 = 4.44%; I (5) /Y (5) = 1 25/ 900 = 13.89%; C (5) /Y (5) = 7 35/ 900 = 81.67% 224 The ABCs of Political Economy 6. If expansionary monet...

Ngày tải lên: 02/07/2014, 21:20