The Age of the EconomistSurveys the history of economics from the time of Adam Smith and some of his predecessors to the 1990s. |
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Page 82
... output per worker can be sold for more than the wage paid — that is , as long as profits rise because additional revenues exceed additional costs . The manager will stop hiring workers when increased output will not bring in enough ...
... output per worker can be sold for more than the wage paid — that is , as long as profits rise because additional revenues exceed additional costs . The manager will stop hiring workers when increased output will not bring in enough ...
Page 130
... output of about 5 to 6 percent . The growth rate of industrial production is estimated at about 10 percent each year ... output , in turn , was sold to state agencies at fixed prices , although individual families also had private plots ...
... output of about 5 to 6 percent . The growth rate of industrial production is estimated at about 10 percent each year ... output , in turn , was sold to state agencies at fixed prices , although individual families also had private plots ...
Page 132
... output are not actually set ; rather , projections or expectations of output in the various foodstuffs are indicated , and farmers are encouraged to base their plantings on the government's forecasts . This " indicative planning " of ...
... output are not actually set ; rather , projections or expectations of output in the various foodstuffs are indicated , and farmers are encouraged to base their plantings on the government's forecasts . This " indicative planning " of ...
Contents
Economics and the Market Economy | 7 |
The Early Days | 13 |
Adam Smith | 23 |
Copyright | |
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achieve Adam Smith aggregate demand agriculture American analysis argued argument basic became big business business cycles capital accumulation capitalist century classical economics commodities competitive consumer costs David Ricardo deficit demand depression dominated economic growth economic policy economic theory economists England English enterprise equilibrium expansion exports forces goals human ideas ideology important increase individual industrial inflation investment John Maynard Keynes Keynes Keynesian economics labor laissez-faire major market economy Marx Marx's Marxist ment mercantilist modern money supply monopoly natural neoclassical economics nomic output philosophy Physiocrat population poverty private-enterprise problems production profits programs promote prosperity rate of interest reduced reform relationships result Revolution Ricardo rise savings Say's Law sector social socialist society Soviet sumer surplus taxes theoretical tion total spending trade unions United wages wealth welfare workers World War II