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updated Fri. February 23, 2018

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Professor Smith pioneered the use of experimental methods to test economic theories. He found that bubbles commonly occurred in financial assets experiments; indeed, he had to basically rig an experiment to prevent them. Pricing assets like stocks, gold, and now cryptocurrency involves projecting the ...
Australia should cut its immigration intake, according to Tony Abbott in a recent speech at the Sydney Institute. Abbott explicitly cites economic theory in his arguments: "It's a basic law of economics that increasing the supply of labour depresses wages; and that increasing demand for housing boosts price.".

political science scholars Michelle Schwarze, Brandon Turner and Rodolpho Hernandez will hold a roundtable discussion on Adam Smith's economic theory and its relation to democratic citizens in the 21st century on Monday, Feb. 26, at 7 p.m. in the James J. Johnson Auditorium at Coastal Carolina ...
Traditional economic theory envisions people solving problems in an informed, rational manner, calculating and balancing how much they need to save for the future without sacrificing too much today. Furthermore, it assumes that they exercise the self-control necessary to stick with the plan for decades ...
market restructuring has highlighted that the electricity industry's unique technical requirements should take precedence over political or economic theories." Electricity has unique technical characteristics, such as network externalities and the "common good" of resource adequacy, which require efficient ...
Lord John Maynard Keynes invented the entire field of macroeconomics in response to the Great Depression in 1929, which could not be understood according to economic theories dominant until then. According to the classical economic theory, forces of supply and demand in the labour market would ...

While the #beetrooter Saga has sucked all the oxygen out of the national political debate for the past fortnight, the Coalition government is confronted by a more existential crisis. Not of morality, but of economics. It was coming to a head in the first few weeks of the year as the prime minister and treasurer set ...
While debating the merits of Reagan's controversial economic theory can leave a bitter taste in your mouth, there's something about those tiny treats that can bond even the most politically divided people in sweet, delicious unity. money may or may not trickle down, but perhaps presidential tastes might.
While traditional economic theory holds that people act rationally in their own best interest, Thaler pioneered the idea that people are sometimes irrational decision makers who need "nudges" to achieve financial goals. "Whenever anyone asks me to sign a copy of the book 'Nudge' I sign it 'nudge for good' ...
... that Sharpe ratios increase monotonically. The historical evidence shows that low-beta portfolios meaningfully outperform high-beta portfolios in both U.S. and international markets. This runs counter to economic theory, which predicts that higher expected risk is compensated with higher expected return.
Additionally, he draws on other disciplines - sociology, political/economic theory and systematic theology, among others - to "bring the texts to bear upon real human lives and communities." The extensive footnotes and expansive bibliography are remarkable. Jipp leaves no biblical stone unturned in his ...
economic theory, they wrote, holds that "inequality should be at least partially self-correcting in a democracy" as "increased inequality leads the median voter to demand more redistribution." But in recent decades, wealth has become more and more concentrated at the top. The scholars cited five possible explanations. "First ...
A slight rise in U.S. wage growth threw markets into fits. investors believe some long-suspended economic patterns are finally kicking in. Then low unemployment will bring higher inflation and bond yields, and ease voters' angst. But the old rules may just not work anymore.
Dr. de Rugy claims that these announcements are not in line with economic theory. For wages to be affected by tax cuts takes an extended period of time. The newly freed revenue must be accumulated and invested into new capital equipment which boosts worker productivity and, consequently, their wages. Quite simply ...
police cracked down, but smugglers found a way. They also funded organized crime. Now drug prohibition funds crime, and authoritarians pretend the solution is long jail sentences. Jails are filled with people like Silk Road's creator, a smart Libertarian nerd who said he wanted to "use economic theory as a ...
As Mr. Eggertsson and his colleagues argue, the standard economic theory based on competitive markets cannot apply when markets are not competitive. And competition, in the United States, is shriveling. The scholars argue that the American economy is afflicted by "rents" -- returns in excess of what ...
Then he became a Libertarian, and he decided, "I want to use economic theory as a means to abolish the use of coercion." By coercion, Ulbricht meant force. He viewed laws against drugs as coercion -- government force that stops people from living the way they want. So he created a website called Silk ...

In the first half of our interview, Professor Keen explains why conventional economic theory doesn't describe capitalism accurately, as well as Hyman Minsky's hypothesis on the significance of private debt in the economy-- something that is largely ignored by the predominant "Neoclassical" school of ...
The exceptions are the yen and to a lesser extent, the Swiss franc. An acceleration in price rises will likely result in a sell-off of stocks in the US and all over the world. The risk-off sentiment triggers safe-haven flows into these currencies, and we have seen that just now. Also, economic theories will benefit ...
"economic theory suggests that larger budget deficits lead to higher inflation as more government spending (if this spending is not directed towards the creation of productive assets) leads to an increase in the overall price level," says Saurabh Mukherjea is the CEO of Ambit capital. Moneycontrol News @ ...
They also concur with Erdoğan's much-talked-about economic theory that asserts high interest rates cause high inflation, rather than the other way around. ... IMF-backed, traditional economic theories that interest rates should be employed to tame price rises were outdated and mistaken, he maintained.
This is consistent with economic theory, in which expected returns are driven by the cyclical time-variation in the price of consumption risk--during bad economic times (such as during the great financial crisis), investors demand a larger risk premium. The implication is that expected excess stock returns are ...
The new advisor, Ms. Navroop Sahdev, is based out of Boston, Massachusetts. Navroop works at the cutting edge of the Financial Services industry, vertical technologies (like Blockchain) and economic theory (drawing upon Innovation, Networks theory and Complex Systems), creating valuable Business intelligence.
I want to hear a more credible answer than the trickle-down economic theory, and buzzwords like 'strategy', 'timescale' and 'outcomes'. This is more important than economic theory - kids' futures depend on it. I'm sure the West End traders will do just fine without the need for more gentrification.Lochee is ...
His justification is as simple as liberal economic theory. "Providing exemptions to some market participants means discriminating against others, which fundamentally undermines the market structure," he writes in his draft report. But like many things, theory and reality can be very different. A farmer or a ...
It's not only a massive win for President Trump and Congress, but also free-market economic theory. For years, conservatives have argued that a lower tax burden empowers employers by allowing them to keep more of their hard-earned money and distribute it as they deem fit. Employees and job-seekers ...
The concept of the winners compensating the losers has been a fundamental principle of economic theory for at least 100 years. It is important in public policy making, in the cost-benefit analysis which is carried out to decide whether a public infrastructure project should go ahead. This is the rationale for ...
At one point, however, someone asked the question, "What happens if the economy improves?" One member cut to the core of the argument by saying, "Then our problem isn't losing an election. Our problem is our economic theory is wrong." When President Barack Obama's policies failed to create jobs or ...
It's not only a massive win for President Trump and Congress, but also free market economic theory. For years, conservatives have argued that a lower tax burden empowers employers by allowing them to keep more of their hard-earned money and distribute it as they deem fit. Employees and job seekers ...
Igniting economic growth, as the Trump Administration's policies are doing, is not as straightforward as it sounds because it is easy to make spectacular mistakes in judgment if caught in the grip of Keynesian economic theory. A day after Barack Obama's 2008 election, the Dow plunged by almost 500 points ...
I had an interesting exchange last Thursday on BBC2's This Week, alongside Andrew Neil and Michael Portillo, with the writer and broadcaster Paul Mason. It got me thinking about the labels we attach to people. I've known Paul for several years; I like him and think he is one of the more thoughtful people ...
"It would have been like me asserting that his economic theories were hurting the little guys without understanding what GDP was. Those with a voice, such as Shiller and the other Nobel laureates, have a responsibility to look beyond the noise and understand the fundamental shift that is happening.".
If you hit a dead link on the Financial Times' website, you get a 404 page that offers a series of funny possible explanations for the page's nonexistence, each corresponding to a different economic theory (like "monetarism," the "efficient markets hypothesis" and "trickle-down"), and many are linked to articles ...
In both cases, economic theory and history make clear that new and better jobs are eventually created and living standards improve. economics and history also make clear that to prevent such trade- and technology-induced job churn is to stifle economic growth. The more unrelenting and widespread are ...
Srinivasan, the Samuel C Park Junior Professor Emeritus of economics at Yale University, further said there is no economic theory to link job losses to demonetisation and implementation of the Goods and Services tax (GST). "I expect him to contain the fiscal deficit as far as he can, take further steps to ...
After the Global financial crisis (GFC) of 2007, the failure of economic theory to provide a warning, explanation, or solution, was noted far and wide. ... though experience had proven all current economic theories about inflation to be incorrect, Economists stubbornly stick to them as a basis for policymaking.
... the forthcoming Budget, noted US-based economist T N Srinivasan has suggested. Srinivasan, the Samuel C Park Jr Professor Emeritus of economics at Yale University, further said there is no economic theory to link job losses to demonetisation and implementation of the Goods and Services tax (GST).
T N Srinivasan, the Samuel C Park Jr Professor Emeritus of economics at Yale University, further said there is no economic theory to link job losses to ... due to demonetisation and GST rollout, Srinivasan, who at one point taught RBI Governor Urjit Patel, said, "There is no economic theory linking the two.
Earlier this week, Pizza Hut unveiled plans to launch a fleet of driverless delivery vans - a sign that automation has reached the world of greasy comfort food. Then the chain did something pizza makers rarely do: It offered an economic theory on twitter. After a user pointed out that driverless cars could ...
There are meta-economic reasons why economic theory, which began as "political economy", switched to "pure science". By the 1980s, economics became normative and quantitative, using mathematical models borrowed from physics which assumed away messy politics, rationalising the world in elegant ...
The economic theory of capitalism (business is business) is built on the assumption that selfishness is the dominant human trait. For the past 30 years the belief that humanity is best served by relying on our selfish nature has dominated our politics. That belief has been actualized by calls for deregulation, ...
While a growth in human welfare or progress towards a just social foundation should ideally be accompanied by a growth in the earth's biophysical capacity, the planetary thresholds framework has enlightened us about the limits of the planet and the complex inter-linkages between the thresholds and ...
In recent years, however, 2017 Nobel laureate and Behavioral Economist, Richard Thaler, has demonstrated that people defy traditional economic theory in predictably irrational ways, often driven by social desires rather than logic. For example, buying the newly released iPhone model despite its more ...
The headline example is the driverless car. If cars can drive themselves, what will happen to chauffeurs, taxi drivers, and so on? economic theory tells us that our worries are groundless. Attaching machines to workers increases their output for each hour they work. They then have an enviable choice: work ...
On Jan. 1, legally mandated minimum wages went up across Minnesota. For large employers the rate went up from $9.50 an hour to $9.65 and for small employers from $7.75 to $7.87. The Minneapolis City Council went even further, announcing that employers would have to pay workers at least $10 an ...
When possible, economic theories should be tested empirically; this is particularly important in cases, such as minimum wages, where there are opposing theoretical predictions. For two decades, independent research Economists have conducted dozens of studies which empirically assess the differences ...
In fact, there is some pretty simple economic theory at work. The harder it is to get from one country to another, the more the immigration process selects for individuals who are especially ambitious and resourceful. Economist Edward Lazear suggests a simple experiment: Consider immigrants to the U.S. ...
We base our economic policies on modern economic theory, which is based on the amazing assumption that human beings act to maximise lifetime consumption, since this is the sole source of human welfare. Recent Nobel winner Richard Thaler has spent several decades to show the dramatic differences ...
I did spend some time trying to learn of Hale's background in economics but came up empty-handed. Perhaps, as his letter states, his training comes from Newspaper U. Maybe one day he would agree to debate Hebert on the subject. But I digress. Hale did share with your readers an economic theory that ...
Let's start with Professor Helm, and his economic theory of Natural capital. An elegantly argued thesis that natural capital should be left in a ... To start with, the premise of most economic theories is of "all things being equal", but they never usually are. The natural capital theme will no doubt get buffeted and ...


 

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