like a flash of light on a dark night

... efficient way to raise capital and advance living standards, but can be likened to a casino or a game of chance “For it is, so to speak, a game of Snap, of Old Maid, of Musical Chairs a pastime in ... hour, day by day, for as long as we can I have said in another context that it is a disadvantage of ‘the long run’ that in the long run we are all dead But I could have said equally well that ... savings equal to investment could never be guaranteed as long as irrational “animal spirits” operated in a laissez-faire financial marketplace What was Keynes’s solution? He favored a gradual but...

Ngày tải lên: 09/08/2014, 20:20

Ngày tải lên: 20/02/2014, 16:20

... / Adam Jacobsson Agenda • 16.30-17.00 – Presentation of an overview of the program – Presentation by the Student council • 17.00-17.30 – Some of the teachers on the programme will tell you a ... economy Game theory 06/09/2012 / Adam Jacobsson Year Period Period Year Methodology seminar •Empirical asset pricing •Economic integration •Economic psychology •Antitrust and regulation •Econometrics ... time at lectures • Economics at the Department is to a large extent applied and requires computer skills (statistical softwares, dealing with data, writing term papers, assignments, and finally...

Ngày tải lên: 08/03/2014, 05:20

... education market, a continuous education market, research, and consulting During the past few years, on average, the federal budget allocation for the education of non-fee-paying students and capital ... journals, the scope of contractual research, and the influence of HSE’s analytical materials on policy making However, the centralized character of management and the lack of external accountability ... image of HSE as a center of excellence in the area of social sciences and economics This analysis confirms a conclusion that was based on the history of the London School of Economics and Political...

Ngày tải lên: 08/03/2014, 06:20

... psychological concept of a “cue.” In section 4, we present an example of each approach to illustrate our classification and highlight the differences in the concerns and abstractions of standard economics ... presumption that economics and psychology have the same goals and rely on the same data facilitates three types of critiques of standard economics: Failure of Rationality: Economic models of choice fail ... state — a stand-in for a benign therapist — who may, on occasion, conceal facts and make decisions on behalf of the individual’s future selves Neuroeconomists seek a welfare criterion that is appropriate...

Ngày tải lên: 08/03/2014, 08:20

... organizational relationships that have been developed in the organization Because it is embodied in social relationships, organizational capital may also be considered a kind of social capital ... (3) Self-managed teams and decentralization of decision making as the basic principles of organizational design (4) Comparatively high compensation contingent on organizational performance (5) ... this kind of organizational capital functions very much like any other important capital asset And according to a number of studies, intangible assets such as organizational capital account for...

Ngày tải lên: 17/03/2014, 08:20

... is an analysis and action plan based on defects data* There is a fabric gradation system The gradation system is well defined Daily meetings take place that discuss defects and gradation* Standard ... decentralization is a plant-level variable) Management is the adoption share of the 16 management practices starred in Appendix Table A. I and discussed in Online Appendix A. I, averaged across all ... http://qje.oxfordjournals.org/ at International Monetary Fund on February 7, 2013 IV THE IMPACT ON MANAGEMENT PRACTICES DOES MANAGEMENT MATTER? 21 Average adoption rates of the 38 key textile manufacturing management...

Ngày tải lên: 17/03/2014, 15:20

... Cyclades Mary C Sturgeon III Archaic and Classical Magna Graecia Barbara A Barletta IV Classical Athens Olga Palagia V Late Classical Asia Minor: Dynasts and Their Tombs Peter Higgs VI Archaic and ... and 2002) and is currently preparing an annotated English translation of Winckelmann’s Critical Account of the Situation at Herculaneum Olga Palagia is Professor of Classical Archaeology at the ... warrior from Aigina Athens, National Museum 73 Porticello head Reggio Calabria, Museo Nazionale 74 Head of boxer from Olympia Athens, National Museum 7 5a, b Head of Nike from the Athenian Agora...

Ngày tải lên: 23/03/2014, 11:21

... 'praxeology' Economics, Say realized, was not based on a mass of inchoate particular statistical facts It was based, instead, on very general facts (jait generaux), facts so general and universal and so ... in each department, and consequently to vary its' wage rate In recognizing the differences of natural talent, Say advanced far beyond the egalitarianism of Adam Smith and of neoclassical economics ... great influence in Italy At first, Smith's Wealth of Nations had little impact on Italian economics Italy had already had a flourishing free trade tradition, notably in the systematic Meditations...

Ngày tải lên: 09/04/2014, 15:19

... 'praxeology' Economics, Say realized, was not based on a mass of inchoate particular statistical facts It was based, instead, on very general facts (jait generaux), facts so general and universal and so ... in each department, and consequently to vary its' wage rate In recognizing the differences of natural talent, Say advanced far beyond the egalitarianism of Adam Smith and of neoclassical economics ... great influence in Italy At first, Smith's Wealth of Nations had little impact on Italian economics Italy had already had a flourishing free trade tradition, notably in the systematic Meditations...

Ngày tải lên: 09/04/2014, 18:48

... comments on the Handbook chapters, in particular Alberto Alesina, Alan Auerbach, David Austen-Smith, David Baron, Roel Beetsma, Tim Besley, Francesco Daveri, Daniel Diermeier, Mathias Dewatripont, Avinash ... assumption of rational behavior allows an adequate description of complicated incentives and trade-offs, and has contributed to a substantial increase in the understanding of the finer workings of the ... research assistance by Fabio Ghironi, Paolo Dudine, and Alessandra Bonfiglioli Writing a book is a long and tiring process It was made considerably easier by the outstanding administrative and...

Ngày tải lên: 11/06/2014, 12:59

... Nature and Causes of the Wealth of Nations It was a fat book with a long title destined to have gargantuan global impact The author was Dr Adam Smith, a quiet, absent-minded professor who taught ... the basis of a harmonious and growing economy A few pages later, Smith used another example, the woolen coat: “the assistance and co-operation of many thousands” of laborers and various machinery ... cousin’s name was—you guessed it—Adam Smith This was Samuelson’s presidential address before the American Economic Association A year later, Samuelson declared, “The first human was Adam The first economist...

Ngày tải lên: 09/08/2014, 20:20

... But Adam Smith would have no part of Aristotle’s scorn of moneymaking and his denunciation of monetary trade and retail commerce as immoral and “unnatural,” a philosophy that was later sanctioned ... mention, already quoted above, occurs in a chapter on international trade in The Wealth of Nations, where Smith argues against restrictions on imports, and against the merchants and manufacturers ... of the most fundamental of economic balance relations, the equalization of rates of return .” Hahn expects anarchic chaos, but the market creates a “different answer”—spontaneous order In a...

Ngày tải lên: 09/08/2014, 20:20

... journalist, was an indefatigable advocate of free trade and laissez-faire policies, a passionate opponent of socialism, and an unrelenting debater and statesman Bastiat was unrivaled in exposing fallacies, ... MARX 61 socialism, and national socialism All grew out of a reaction to the rapid transformation from a rural economy to an industrial world The first half of the nineteenth century was an era ... theory of money and the law of comparative advantage, but it also gave us the labor theory of value, the iron law of subsistence wages, and something economists call the “Ricardian vice,” defined as...

Ngày tải lên: 09/08/2014, 20:20

... graduated income tax Abolition of all right of inheritance Confiscation of the property of all emigrants and rebels Centralization of credit in the hands of the state by means of a national bank ... AGAINST CAPITALISM 87 have been devastating, resulting in retarded and even negative growth in many parts of Asia, Africa, and Latin America Historical Materialism So where was capitalism headed? ... or 30% Marx divided the value of the final product into two forms of capital, constant capital (C) and variable capital (V) Constant capital repre- KARL MARX LEADS A REVOLT AGAINST CAPITALISM 85...

Ngày tải lên: 09/08/2014, 20:20

... factor of production—land, labor, and capital—received fair compensation for its added value Böhm-Bawerk Makes Two Devastating Arguments Against Marx Another Austrian economist, Eugen Böhm-Bawerk ... economics Attendance at URPE sessions at the annual American Economic Association meetings is down, and URPE membership has fallen to around 800 Marx and his followers have traditionally taken a dim ... economic system based on fixed exchange rates and the creation of the International Monetary Fund and the World Bank MIT Professor Paul Anthony Samuelson (1915-) and his popular textbook, Economics...

Ngày tải lên: 09/08/2014, 20:20

... vision of a beneficial capitalism, but their unrealistic assumptions made it difficult to sustain a free-market defense Both Walras and Pareto, after years of laying the foundation of welfare economics, ... description of modern capitalism as a form of barbaric evolution and Marx’s theory of exploitation and surplus value Rather, the development of modern society (“the heroic age of capitalism”) came about ... proclaimed self-denial and abstinence while warning against materialism and pride Protestant preachers disapproved of “conspicuous consumption,” and so capitalists and workers saved and saved and...

Ngày tải lên: 09/08/2014, 20:20

... a half-century of dramatic changes in the world economy and the economics profession: peace and war, boom and bust, inflation and deflation, Republicans and Democrats, and an array of new economic ... thus lead to a deterioration of all the major goals of macroeconomic policy” (Samuelson and Nordhaus 1998, 385) Alan Blinder, a leading Keynesian, also used AS-AD to explain the contortions in ... instead on Ricardo’s and Marshall’s comments on Say’s law of markets (For a detailed discussion of Say’s law, see chapter of this book.) Keynes went on to say that the classical model under Say’s...

Ngày tải lên: 09/08/2014, 20:20

... University of Chicago In 1967, he was elected president of the American Economic Association His focus on monetary policy and the quantity theory of money was particularly attractive in an age of inflation ... the London School of Economics In the postwar period, Bauer waged a lonely battle against foreign aid, comprehensive central planning, and nationalization According to Bauer, state planning was ... denationalization and privatization, deregulation, and other market policies Even the World Bank, once a severe critic of the capitalist model, has shifted dramatically in favor of market solutions...

Ngày tải lên: 09/08/2014, 20:20