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Transformation problem: The transformation problem is the problem specific to Marxist economics, and not to economics in general, of finding a general rule by which to transform the values of commodities based on socially necessary labour time into the competitive prices of the marketplace. The essential difficulty is how to reconcile profit in ...
There are various factors affecting economic growth. The problems of economic growth have been discussed by numerous growth models, including the Harrod-Domar model, the neoclassical growth models of Solow and Swan, and the Cambridge growth models of Kaldor and Joan Robinson. This part of the economic problem is studied in the economies of ...
An Essay on Marxian Economics [1] is an analytical essay written by in 1942 by economist Joan Robinson. The essay deals with the orthodox teachings of capital accumulation, the essential demand crisis and real wages by comparing it to Karl Marx's Das Kapital.
A good economic theory should be built on sound economic principles tested on many free markets, and proven to be valid. However, empirical facts have been alleged to indicate that the principles of economics hold only under very limited conditions that are rarely met in real life, and there is no scientific testing methodology available to ...
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.
A grassroots movement is one that uses the people in a given district, region or community as the basis for a political or continent movement. [1] Grassroots movements and organizations use collective action from volunteers at the local level to implement change at the local, regional, national, or international levels. Grassroots movements are ...
The most widespread definition of economics involves the allocation of wealth, in the context of the human monetary system. [3] Economics rely on various subsystems, such as communities, businesses, resources, and money. Since economics rely on the world's natural resources, economic systems and ecosystems are interconnected.
The Review of Economic Studies. 4 (1): 53– 71. doi:10.2307/2967660. JSTOR 2967660. Lange, O 1937 On the Economic Theory of Socialism II The Review of Economic Studies V4 N 123-142; Lange, O 1938 On the Economic Theory of Socialism B Lippincott ed. University of Minnesota Press; Lange, O 1940 Letter to FA Hayek, translated by Thadeusz Kowalik