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Econodynamics
Economic dynamics is an empirical science that studies emergences, motion and disappearance of value—a specific concept that is used for description of the processes of creation and distribution of wealth. Any economic theory deals with the interpretation of economic processes based on the law of production of value, and various scientific approaches differ in the choice of factors of production that determine, in the end, the creation of wealth. Marxists insist that only labor creates value, neoclassicists believe that, in addition to labor, capital must also be taken into account as the important source of value. Econodynamics demonstrates, and this is an achievement of V.N. Pokrovskii, that the observed substitution of labour be capital is, in fact, the substitution of labour by work of external energy sources, and the statement about the productive power of capital is a hoax that hides the real role of labor and energy in the production of value. Econodynamics offers a m ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Vladimir Pokrovskii
Vladimir Nikolajevich Pokrovskii (; born 11 May 1934) is a Russian scientist known for his contributions to polymer physics and economic theory. Education and career Pokrovskii was born on 11 May 1934 into a Russian family in the rural locality Altayskoye, Altaysky District, Altai Krai (Russian: Алтайское, Алтайского края), Russia. He graduated from Tomsk State University in Siberia as a physicist in 1958 and in the same year was employed as a teacher of physics at Tomsk Polytechnic University. In 1964 he moved to the Institute of Chemical Physics of the Academy of Sciences of the USSR ( Chernogolovka, Moscow region) as a senior research fellow, where he engaged in the study of suspensions and polymers. He received the Candidate of Sciences degree (1968) and the Doctor of Sciences (1977) in physics and mathematics. Since 1980, he has managed the department of applied mathematics of the Altai Polytechnic Institute (now Altai State Technical Univers ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Economics
Economics () is a behavioral science that studies the Production (economics), production, distribution (economics), distribution, and Consumption (economics), consumption of goods and services. Economics focuses on the behaviour and interactions of Agent (economics), economic agents and how economy, economies work. Microeconomics analyses what is viewed as basic elements within economy, economies, including individual agents and market (economics), markets, their interactions, and the outcomes of interactions. Individual agents may include, for example, households, firms, buyers, and sellers. Macroeconomics analyses economies as systems where production, distribution, consumption, savings, and Expenditure, investment expenditure interact; and the factors of production affecting them, such as: Labour (human activity), labour, Capital (economics), capital, Land (economics), land, and Entrepreneurship, enterprise, inflation, economic growth, and public policies that impact gloss ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Empirical Science
In philosophy, empiricism is an epistemological view which holds that true knowledge or justification comes only or primarily from sensory experience and empirical evidence. It is one of several competing views within epistemology, along with rationalism and skepticism. Empiricists argue that empiricism is a more reliable method of finding the truth than purely using logical reasoning, because humans have cognitive biases and limitations which lead to errors of judgement. Empiricism emphasizes the central role of empirical evidence in the formation of ideas, rather than innate ideas or traditions. Empiricists may argue that traditions (or customs) arise due to relations of previous sensory experiences. Historically, empiricism was associated with the " blank slate" concept (''tabula rasa''), according to which the human mind is "blank" at birth and develops its thoughts only through later experience. Empiricism in the philosophy of science emphasizes evidence, especia ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Growth Accounting
Growth accounting is a procedure used in economics to measure the contribution of different factors to economic growth and to indirectly compute the rate of technological progress, measured as a residual, in an economy. Growth accounting decomposes the growth rate of an economy's total output into that which is due to increases in the contributing amount of the factors used—usually the increase in the amount of capital and labor—and that which cannot be accounted for by observable changes in factor utilization. The unexplained part of growth in GDP is then taken to represent increases in productivity (getting more output with the same amounts of inputs) or a measure of broadly defined technological progress. The technique has been applied to virtually every economy in the world and a common finding is that observed levels of economic growth cannot be explained simply by changes in the stock of capital in the economy or population and labor force growth rates. Hence, technologi ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
World Population
In demographics of the world, world demographics, the world population is the total number of humans currently alive. It was estimated by the United Nations to have exceeded eight billion in mid-November 2022. It took around 300,000 years of human prehistory and human history, history for the human population to reach a billion and only 218 more years to reach 8 billion. The human population has experienced Population growth, continuous growth following the Great Famine of 1315–1317 and the end of the Black Death in 1350, when it was nearly 370,000,000. The highest global List of countries by population growth rate, population growth rates, with increases of over 1.8% per year, occurred between 1955 and 1975, peaking at 2.1% between 1965 and 1970. The growth rate declined to 1.1% between 2015 and 2020 and is projected to decline further in the 21st century. The global population is still increasing, but there is significant uncertainty about its long-term trajectory due ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Gross World Product
The gross world product (GWP), also known as gross world income (GWI), is the combined gross national income (previously, the "gross national product") of all the countries in the world. Because imports and exports balance exactly when considering the whole world, this also equals the total global gross domestic product (GDP).See measures of national income and output for more details. According to the World Bank, the 2013 nominal GWP was approximately 75.59 trillion United States dollar The United States dollar (Currency symbol, symbol: Dollar sign, $; ISO 4217, currency code: USD) is the official currency of the United States and International use of the U.S. dollar, several other countries. The Coinage Act of 1792 introdu ...s. In 2017, according to the CIA's '' World Factbook'', the GWP was around $80.27 trillion in nominal terms and totaled approximately 127.8 trillion international dollars in terms of purchasing power parity (PPP). The per capi ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Angus Maddison
Angus Maddison (6 December 1926 – 24 April 2010) was a distinguished British economist specialising in quantitative macro economic history, including the measurement and analysis of economic growth and development. Maddison lectured at several universities over the course of his career, including the University of St. Andrews in Scotland and Harvard University. In 1978, Maddison was appointed Historical Professor in the Faculty of Economics at the University of Groningen (RUG). He retired in 1996 and became Emeritus Professor. Maddison is particularly known for documenting economic performance over long periods of time and across major countries in every continent of the world. Early life and OEEC/OECD Born in Newcastle-on-Tyne, England, Maddison was educated at Darlington Grammar School and subsequently attended Selwyn College, Cambridge, as an undergraduate. After attending McGill University and Johns Hopkins University as a graduate student, he decided not to pursue a ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Input-output Model
In computing, input/output (I/O, i/o, or informally io or IO) is the communication between an information processing system, such as a computer, and the outside world, such as another computer system, peripherals, or a human operator. Inputs are the signals or data received by the system and outputs are the signals or data sent from it. The term can also be used as part of an action; to "perform I/O" is to perform an input or output operation. are the pieces of hardware used by a human (or other system) to communicate with a computer. For instance, a keyboard or computer mouse is an input device for a computer, while monitors and printers are output devices. Devices for communication between computers, such as modems and network cards, typically perform both input and output operations. Any interaction with the system by an interactor is an input and the reaction the system responds is called the output. The designation of a device as either input or output depends on p ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Wassily Leontief
Wassily Wassilyevich Leontief (; August 5, 1905 – February 5, 1999) was a Soviet-American economist known for his research on input–output analysis and how changes in one economic sector may affect other sectors. Leontief won the Nobel Memorial Prize in Economic Sciences in 1973, and four of his doctoral students have also been awarded the prize (Paul Samuelson 1970, Robert Solow 1987, Vernon L. Smith 2002, Thomas Schelling 2005). Biography Early life Wassily Leontief was born on August 5, 1905, in Munich, German Empire, the son of Wassily W. Leontief (professor of Economics) and Zlata (German spelling ''Slata''; later Evgenia) Leontief (née Becker). Wassily Leontief Sr. belonged to a family of Russian old-believer merchants living in St. Petersburg since 1741. Evgenia (Genya) Becker belonged to a wealthy Jewish family from Odessa. At 15 in 1921, Wassily Jr. entered Petrograd State University in present-day St. Petersburg. He earned his Learned Economist degree (equiv ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Technological Theory Of Social Production
In the technological theory of social production, the growth of output, measured in money units, is related to achievements in technological consumption of labour and energy. This theory is based on concepts of classical political economy and neo-classical economics and appears to be a generalisation of the known economic models, such as the neo-classical model of economic growth and input-output model. The main relations of the theory The major characteristics of social production is its output Y, that is production of value in unit of time, the original sources of which are production factors, which are some universal characteristics of production processes. In classical political economy (Smith, Marx, Ricardo), it is human efforts (labour) L, which are measured in working hours. Neoclassical practice G.W. Cobb and P.N. Douglas, A Theory of Production, American Economic Review, Suppl. (March 1928), pp. 139-165.R. Solow, Technical Change and the Aggregate Production Fu ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Economic Growth
In economics, economic growth is an increase in the quantity and quality of the economic goods and Service (economics), services that a society Production (economics), produces. It can be measured as the increase in the inflation-adjusted Output (economics), output of an economy in a given year or over a period of time. The rate of growth is typically calculated as List of countries by real GDP growth rate, real gross domestic product (GDP) growth rate, List of countries by real GDP per capita growth, real GDP per capita growth rate or List of countries by GNI per capita growth, GNI per capita growth. The "rate" of economic growth refers to the Exponential growth, geometric annual rate of growth in GDP or GDP per capita between the first and the last year over a period of time. This growth rate represents the trend in the average level of GDP over the period, and ignores any fluctuations in the GDP around this trend. Growth is usually calculated in "real" value, which is real v ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Growth Accounting
Growth accounting is a procedure used in economics to measure the contribution of different factors to economic growth and to indirectly compute the rate of technological progress, measured as a residual, in an economy. Growth accounting decomposes the growth rate of an economy's total output into that which is due to increases in the contributing amount of the factors used—usually the increase in the amount of capital and labor—and that which cannot be accounted for by observable changes in factor utilization. The unexplained part of growth in GDP is then taken to represent increases in productivity (getting more output with the same amounts of inputs) or a measure of broadly defined technological progress. The technique has been applied to virtually every economy in the world and a common finding is that observed levels of economic growth cannot be explained simply by changes in the stock of capital in the economy or population and labor force growth rates. Hence, technologi ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
