An in-depth exploration of the relationship between individual ability and earnings, incorporating economic theories, key models, and real-world applications.
Crowding In refers to the phenomenon where government borrowing and spending encourage increased private sector investment, especially during economic recessions where government expenditure revitalizes economic activity.
Economics is a social science that explores individual and group decisions on utilizing scarce resources to satisfy wants and needs. It encompasses various subfields such as behavioural economics, development economics, and environmental economics, among others.
A comprehensive guide to understanding the key differences and intersections between economics and finance.
A comprehensive overview of the Expectations Hypothesis, detailing its definition, various theories, applications, and historical context.
An in-depth exploration of the Income Velocity of Circulation, its historical context, formulas, importance in economic theories, key events, and applications in modern economics.
An exploration of the Kuznets Curve, which depicts the relationship between economic development and inequality over time.
The theory of loanable funds explains the determination of the rate of interest by equating the demand for investment funds with the supply of available savings. This theory contrasts with the Keynesian liquidity preference theory.
Milton Friedman, a renowned American economist, is widely regarded as one of the most influential figures in the field of modern economics, known for his strong advocacy of free-market policies and monetarism.
Orthodox Economics comprises the dominant or mainstream economic theories, with a primary focus on Neoclassical Economics. It includes various models and approaches essential for understanding market dynamics and consumer behavior.
Pluralism in Economics refers to the advocacy for incorporating various economic theories and methodologies in both research and teaching. Explore its types, historical context, relevance, and more.
An in-depth look at two essential concepts in economics and finance: Purchasing Power Parity (PPP) and Public-Private Partnerships (PPP), including historical context, key events, detailed explanations, mathematical formulas, applicability, and more.
The Stolper-Samuelson Theorem explains the relationship between factor prices and output prices, predicting that trade liberalization benefits the abundant factor and harms the scarce factor.
Stylized facts are empirical observations used as a starting point for the construction of economic theories. These facts hold true in general, but not necessarily in every individual case. They help in simplifying complex realities to develop meaningful economic models.
The Bigger Fool Theory, also known as the Greater Fool Theory, is a financial concept that describes the behavior of investors who buy overvalued assets with the hope of selling them at a profit to someone else (the 'greater fool').
The Chicago School of Economics emphasizes the benefits and efficiency of free markets over centrally planned economies, rooted in the works of faculty members at the University of Chicago like Milton Friedman and F. A. Hayek.
Constant Returns to Scale (CRS) describes a situational framework in economics where the change in output is directly proportional to the change in inputs, resulting in the production efficiency remaining constant as the scale of production expands.
Cyclic Variation refers to changes in economic activity due to regular or recurring causes such as the Business Cycle or seasonal influences. This article explores the types, causes, and examples of cyclic variations in economics.
An in-depth exploration of Fiscalist economists who advocate for the use of government taxation and spending to influence economic performance, in contrast to Monetarists who emphasize monetary policy.
An in-depth exploration of the Kondratieff Cycle, also known as the Long-Wave Cycle, describing its phases, historical context, implications in economics, and related concepts.
An in-depth exploration of the economic theories developed in the 1970s that sought to address the limitations of Keynesian economics.
Purchasing Power Parity (PPP) is an economic theory that estimates the currency exchange rates necessary in a foreign trade situation so that each currency has the same purchasing power.
Say's Law, a proposition by 19th-century French economist J. B. Say, asserts that supply creates its own demand. It posits that whatever quantity is supplied will also be demanded.
The Subsistence Theory of Wages posits that wages cannot fall below the subsistence level for long periods because such a level is insufficient to maintain the labor force. This classical economic proposition highlights the relationship between wages and basic living standards.
An in-depth look at supply-side economics, a theory that contends drastic tax reductions will stimulate productive investment to benefit society; championed by Professor Arthur Laffer in the late 1970s.
Comprehensive overview of Applied Economics, exploring its definition, operational mechanisms, and wide-range applications in real-world scenarios.
A comprehensive look at the life, work, and impact of Gunnar Myrdal, the Swedish economist and sociologist who won the 1974 Nobel Memorial Prize in Economic Sciences.
Comprehensive overview of James M. Buchanan Jr., an American economist known for his pioneering work in public choice theory and recipient of the 1986 Nobel Prize in Economics.
A comprehensive exploration of momentum investing, including strategies, formulas, examples, controversies, and more.
An in-depth look at Neoclassical Growth Theory, exploring how equilibrium is achieved by varying labor and capital in the production function, its predictions, historical context, and practical applications.
An in-depth look at the Quantity Theory of Money, its foundational formula, practical examples, historical context, and its relevance in modern economics.
A comprehensive guide to the Fisher Effect, an economic theory developed by Irving Fisher explaining the connection between inflation and both real and nominal interest rates.
