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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 ...
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 new economic history, or cliometrics, formalized economic history in a manner similar to the injection of mathematical models and statistics into the rest of economics. [ 12 ] The relationship between economic history, economics and history has long been the subject of intense discussion, and the debates of recent years echo those of early ...
The economic activities of Bantu states in the region largely reflected the resources of the area and the economic traditions of the inhabitants. For example, the economic power of the Rozwi Empire was based on cattle wealth and farming, with significant gold mining. They established trade with Arab traders, in which materials such as gold ...
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 ...
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 ...
Grassroots democracy is a key component of libertarian socialist political philosophies, which, for various reasons, advocate putting firms under the control of local communities or councils. For example, eco-socialists argue that firms should be controlled by the group of people whose ecosystem is directly affected by that firm's activity.
The first edition of the book was published in 1960. Until the 10th edition, the author was Campbell R. McConnell, professor of economics at the University of Nebraska, Lincoln, and since the 11th edition, which was published in 1990, Stanley L. Brue, a professor of economics, has become a co-author. [1]