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Transformation in economics refers to a long-term change in dominant economic activity in terms of prevailing relative engagement or employment of able individuals. Human economic systems undergo a number of deviations and departures from the "normal" state, trend or development.
In economics, intertemporal choice is the study of the relative value people assign to two or more payoffs at different points in time. This relationship is usually simplified to today and some future date. Intertemporal choice was introduced by Canadian economist John Rae in 1834 in the "Sociological Theory of Capital".
Economic history is the study of history using methodological tools from economics or with a special attention to economic phenomena. Research is conducted using a combination of historical methods, statistical methods and the application of economic theory to historical situations and institutions.
Many studies show that modernization has contributed to democracy in some countries. For example, Seymour Martin Lipset argued that modernization can turn into democracy. [19] There is academic debate over the drivers of democracy because there are theories that support economic growth as both a cause and effect of the institution of democracy.
Economic factors One area that has a big influence on stock prices is data related to the overall economy. Whether the economy is growing faster than expected or slower can send stocks higher or ...
An Economic History of the World Since 1400 (2016) online 48 university lectures; Liss, Peggy K. Atlantic Empires: The Network of Trade and Revolution, 1713–1826 (Johns Hopkins University Press, 1983). Neal, Larry, and Rondo Cameron. A Concise Economic History of the World: From Paleolithic Times to the Present (5th ed. 2015) 3003 edition online
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The COVID-19 recession was a major global economic crisis which has caused both a recession in some nations, and in others a depression. It is currently the worst global economic crisis in history, surpassing the impact of the Great Depression. The economic crisis began due to the economic consequences of the ongoing COVID-19 pandemic.