Search results
Results From The WOW.Com Content Network
The Cambridge capital controversy, sometimes called "the capital controversy" [1] or "the two Cambridges debate", [2] was a dispute between proponents of two differing theoretical and mathematical positions in economics that started in the 1950s and lasted well into the 1960s.
The Faculty of Economics was first created by Alfred Marshall in 1903, although the first notable Cambridge economist is considered to be Thomas Malthus.After Marshall, the faculty was home to Arthur Cecil Pigou, father of public economics, John Hicks, who pioneered the IS-LM model and general equilibrium theory, and John Maynard Keynes, father of modern macroeconomics. [1]
Economics handbooks that form a series include, but are not limited to, the following: Cambridge Economic Handbooks – associated with Cambridge University Press in the U.K. It began in 1922 with volumes titled Supply and Demand [3] and Money. [4] Volumes in the series carry an often-cited introduction of J. M. Keynes, its first editor. [5]
Supply-side economics has originated as an alternative to Keynesian economics, which focused macroeconomic policy on management of final demand. [28] Demand-side economics relies on a fixed-price view of the economy, where the demand plays a key role in defining the future supply growth, which also allows for incentive implications of investment.
Economics was the second Keynesian textbook in the United States, following the 1947 The Elements of Economics, by Lorie Tarshis.Like Tarshis's work, Economics was attacked by American conservatives (as part of the Second Red Scare, or McCarthyism), universities that adopted it were subject to "conservative business pressuring", and Samuelson was accused of Communism.
The Solow–Swan model or exogenous growth model is an economic model of long-run economic growth.It attempts to explain long-run economic growth by looking at capital accumulation, labor or population growth, and increases in productivity largely driven by technological progress.
1. Large and sudden changes in available production technology drive the model. Summers noted that Prescott could not suggest any specific technological shock for an actual downturn apart from the oil price shock in the 1970s. [3] Furthermore there is no microeconomic evidence for the large real shocks that need to drive these models.
Twenty one such meetings have been held thus far, with over 600 papers presented in areas such as agriculture, industry, international trade and exchange rates, fiscal and monetary economics, project appraisals, demography, human resource development, resource mobilisation, debt, governance, gender, poverty, structural adjustment, and Islamic ...