Economics and Liberating Theory - Part 6 ppt

... 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

... 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 ... prices, and the wage rate in the economy? Marx hypothesized that capitalist development would entail capital-using, labor-saving changes more often than capital- saving, labor-us...

Ngày tải lên: 02/07/2014, 21:20

... sum total balances in household and business checking accounts at banks. Since checking account balances were $61 6 billion and currency in circu- lation was only $ 463 billion in January 1999, currency ... 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...

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... 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 fin...

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... declines, and when m decreases their real wage rises. 9 Solving the model When added to our basic framework of equations (2), (4), and (6) and the inequality u ≤ 1/a(1), equations (7) and (8) give ... production, (and therefore also income) and M is imports. So Y + M represents the aggregate supply of final goods and services. C is household consumption demand, I is domestic inve...

Ngày tải lên: 02/07/2014, 21:20

... resort to appearances and partial con- cessions. While progressives have every reason to validate people’s desires for economic justice and real participation, and work to expand partial concessions, ... Economics of Competition and Greed 259 10 What Is To Be Undone? The Economics of Competition and Greed In Capitalism and Freedom (University of Chicago Press, 1 964 ) Nobel...

Ngày tải lên: 02/07/2014, 21:20