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A traditional economy is a loosely defined term sometimes used for older economic systems in economics and anthropology. It may imply that an economy is not deeply connected to wider regional trade networks; that many or most members engage in subsistence agriculture, possibly being a subsistence economy; that barter is used to a greater frequency than in developed economies; that there is ...
Research shows in the United States that voters punish the president's party in presidential, Senate, House, gubernatorial and state legislative elections when the local economy is doing poorly. [3] A 2021 study found evidence of economic voting in all U.S. presidential elections, all the way back to George Washington. [9]
Boldness is the opposite of shyness. To be bold implies a willingness to get things done despite risks. [1] For example, in the context of sociability, a bold person may be willing to risk shame or rejection in social situations, or to bend rules of etiquette or politeness. An excessively bold person could aggressively ask for money, or ...
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Economic democracy (sometimes called a democratic economy [1] [2]) is a socioeconomic philosophy that proposes to shift ownership [3] [4] [5] and decision-making power from corporate shareholders and corporate managers (such as a board of directors) to a larger group of public stakeholders that includes workers, consumers, suppliers, communities and the broader public.
In contract theory, mechanism design, and economics, an information asymmetry is a situation where one party has more or better information than the other. Information asymmetry creates an imbalance of power in transactions, which can sometimes cause the transactions to be inefficient, causing market failure in the worst case.
Animal spirits is a term used by John Maynard Keynes in his 1936 book The General Theory of Employment, Interest and Money to describe the instincts, proclivities and emotions that seemingly influence human behavior, which can be measured in terms of consumer confidence.
The Universities offering one or more courses in Marxian economics, or teach one or more economics courses on other topics from a perspective that they designate as Marxian or Marxist, include Colorado State University, The New School for Social Research, School of Oriental and African Studies, Federal University of Rio de Janeiro, State ...