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Economic arguments against free trade criticize the assumptions or conclusions of economic theories. Domestic industries often oppose free trade on the grounds that lower prices for imported goods would reduce their profits and market share.
Likewise, economic anthropologist Jason Hickel and Dylan Sullivan posit that it was the expansion of colonialism and the bulldozing of regions into the emerging capitalist world system starting in the late 15th and early 16th centuries that created "periods of severe social and economic dislocation" which resulted in wages crashing to ...
Also called resource cost advantage. The ability of a party (whether an individual, firm, or country) to produce a greater quantity of a good, product, or service than competitors using the same amount of resources. absorption The total demand for all final marketed goods and services by all economic agents resident in an economy, regardless of the origin of the goods and services themselves ...
Procyclical has a different meaning in the context of economic policy. In this context, it refers to any aspect of economic policy that could magnify economic or financial fluctuations. Of course, since the effects of particular policies are often uncertain or disputed, a policy will be often procyclical, countercyclical or acyclical according ...
Economic collapse, also called economic meltdown, is any of a broad range of poor economic conditions, ranging from a severe, prolonged depression with high bankruptcy rates and high unemployment (such as the Great Depression of the 1930s), to a breakdown in normal commerce caused by hyperinflation (such as in Weimar Germany in the 1920s), or even an economically caused sharp rise in the death ...
Regional economics is a sub-discipline of economics and is often regarded as one of the fields of the social sciences.It addresses the economic aspect of the regional problems that are spatially analyzable so that theoretical or policy implications can be the derived with respect to regions whose geographical scope ranges from local to global areas.
Economics is a science which studies human behaviour as a relationship between ends and scarce means which have alternative uses. [ 9 ] Robbins describes the definition as not classificatory in "pick[ing] out certain kinds of behaviour" but rather analytical in "focus[ing] attention on a particular aspect of behaviour, the form imposed by the ...
Development economics is a branch of economics that deals with economic aspects of the development process in low- and middle- income countries. Its focus is not only on methods of promoting economic development, economic growth and structural change but also on improving the potential for the mass of the population, for example, through health, education and workplace conditions, whether ...