Keynes and Galbraith John Maynard Keynes and his leading North American disciple John Kenneth Galbraith insisted that traditional free market capitalism and laissez faire economic thought of the 19th Century variety were no longer valid to the probl Continue Reading...
A b) Consider the articles on behavioral economics at http://myweb.liu.edu/~uroy/eco54/histlist/behav-econ/index.html. Summarizethe main thrust of some of these articles. Based on these articles, what's your opinion of behavioral economics? Do you Continue Reading...
Keynesian Revolution: Analysis and Criticism believe myself to be writing a book on economic theory which will largely revolutionize -- not, I suppose, at once, but in the course of the next ten years -- the way the world thinks about economic proble Continue Reading...
Economists Explain the theory of Social Darwinism. What elements of truth are in the theory? How do you refute it? The theory of Social Darwinism is simply asserts that only the fittest survive in the wild or in society as it exists today. Thus, t Continue Reading...
Some may argue that consumerism isn't fueling the rampant consumer debt; the real problem is that wages have been stagnant and consumers just can't keep up with the cost of living. But, following Keynes' line of reasoning, consumption should at leas Continue Reading...
Keynesian fiscal policy on the U.S. economy, we first need to understand that basics of this macroeconomic model. It is also important to remember that this economic model came at a time when the Great Depression had a grip on the U.S. industry and Continue Reading...
In IBM's case, the Department of Justice found that their efforts were mired in failure. Unfortunately, IBM was so central to the economic operations of Germany and occupied Europe that it was necessary to preserve IBM's role in the economy of Europ Continue Reading...
These methods are then examined with respect to future events using empirical observations and statistical tools. (History of Economics Society, 25) It has to be accepted that such a method has been used to arrive at various conclusions. A lot of d Continue Reading...
These factors mean that the old economic theories are not always working properly and are not always properly adapted to the current globalization conditions. Following from this, as more importance is weighted towards behavioural economics, the ol Continue Reading...
