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Birmingham School (economics)
The Birmingham
Birmingham
School was a school of economic thought that emerged in Birmingham, England
England
during the post-Napoleonic depression that affected England
England
following the end of the Napoleonic wars
Napoleonic wars
in 1815.Contents1 Overview 2 See also 3 References 4 BibliographyOverview[edit] Arguing an underconsumptionist theory – attributing the depression to the fall in demand due to the end of the wars and end of war mobilization – Birmingham
Birmingham
School economists opposed the gold standard and advocated the use of an expansionary monetary policy to achieve full employment. The leading thinker and spokesman for the Birmingham
Birmingham
School was the banker Thomas Attwood. Other notable figures included George Frederick Muntz and Thomas Attwood's brother Matthias Attwood
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Joseph Schumpeter
Joseph Alois Schumpeter (German: [ˈʃʊmpeːtɐ]; 8 February 1883 – 8 January 1950)[3] was an Austrian-born American political economist. He briefly served as Finance Minister of Austria
Austria
in 1919. In 1932, he became a professor at Harvard University
Harvard University
where he remained until the end of his career
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Patrick Colquhoun
Patrick Colquhoun
Patrick Colquhoun
(14 March 1745 – 25 April 1820) was a Scottish merchant, statistician, magistrate, and founder of the first regular preventive police force in England, the Thames River Police.Contents1 Early life 2 River Police 3 Significance for "modern" policing 4 Hanseatic diplomat 5 Criticism 6 References 7 External linksEarly life[edit] Colquhoun, a descendent of the Scottish Clan Colquhoun
Clan Colquhoun
of Luss, was born in Dumbarton
Dumbarton
in 1745.[1] Orphaned at the age of 16, his relatives sent him to America, setting him up in the lucrative commercial trade in Virginia. In 1766, the 21-year-old Colquhoun returned to Scotland, settling in Glasgow
Glasgow
and going into business on his own in the linen trade
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Special
Special
Special
or specials may refer to:Contents1 Music 2 Film and television 3 Other uses 4 See alsoMusic[edit] Special
Special
(album), a 1992
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International Standard Book Number
"ISBN" redirects here. For other uses, see ISBN (other).International Standard Book
Book
NumberA 13-digit ISBN, 978-3-16-148410-0, as represented by an EAN-13 bar codeAcronym ISBNIntroduced 1970; 48 years ago (1970)Managing organisation International ISBN AgencyNo. of digits 13 (formerly 10)Check digit Weighted sumExample 978-3-16-148410-0Website www.isbn-international.orgThe International Standard Book
Book
Number (ISBN) is a unique[a][b] numeric commercial book identifier. Publishers purchase ISBNs from an affiliate of the International ISBN Agency.[1] An ISBN is assigned to each edition and variation (except reprintings) of a book. For example, an e-book, a paperback and a hardcover edition of the same book would each have a different ISBN. The ISBN is 13 digits long if assigned on or after 1 January 2007, and 10 digits long if assigned before 2007
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Charles P. Kindleberger
Charles Poor "Charlie" Kindleberger (October 12, 1910 – July 7, 2003) was an economic historian and author of over 30 books. His 1978 book Manias, Panics, and Crashes, about speculative stock market bubbles, was reprinted in 2000 after the dot-com bubble. He is well known for hegemonic stability theory. He has been referred to as "the master of the genre" on financial crisis by The Economist.[4]Contents1 Life1.1 Background 1.2 Government1.2.1 Treasury 1.2.2 Marshall Plan 1.2.3 Harry Dexter White1.3 Academia 1.4 Honors 1.5 Personal2 Writings2.1 The World in Depression 2.2 Books3 References 4 External linksLife[edit] Background[edit] Kindleberger was born in New York City on October 12, 1910
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Digital Object Identifier
In computing, a Digital Object Identifier or DOI is a persistent identifier or handle used to uniquely identify objects, standardized by the International Organization for Standardization
International Organization for Standardization
(ISO).[1] An implementation of the Handle System,[2][3] DOIs are in wide use mainly to identify academic, professional, and government information, such as journal articles, research reports and data sets, and official publications though they also have been used to identify other types of information resources, such as commercial videos. A DOI aims to be "resolvable", usually to some form of access to the information object to which the DOI refers. This is achieved by binding the DOI to metadata about the object, such as a URL, indicating where the object can be found. Thus, by being actionable and interoperable, a DOI differs from identifiers such as ISBNs and ISRCs which aim only to uniquely identify their referents
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Sydney Checkland
Sydney George Checkland FRSE (9 October 1916 – 22 March 1986) was a British-Canadian economic historian. Life[edit] Born in Ottawa, Checkland worked at the Bank of Nova Scotia, then the Ottawa Sanitary Laundry Company, while he gained associate membership of the Canadian Bankers' Association. In 1938, he moved to England to study at the University of Birmingham, and in his final year served as President of the Guild of Students at the university. In 1941, he was elected as President of the National Union of Students, serving for only one year before becoming President of the International Council of Students.[1] In late 1942, Checkland enrolled at the Royal Military College, Sandhurst, then was commissioned as a lieutenant into the Manchester Regiment, before becoming a tank commander in the Governor General's Foot Guards of the Canadian Army
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Multiplier Effect
In macroeconomics, a multiplier is a factor of proportionality that measures how much an endogenous variable changes in response to a change in some exogenous variable. For example, suppose variable x changes by 1 unit, which causes another variable y to change by M units. Then the multiplier is M.Contents1 Common uses1.1 Money multiplier 1.2 Fiscal multipliers 1.3 Keynesian and Hansen–Samuelson multipliers2 General method 3 History 4 See also 5 ReferencesCommon uses[edit] Two multipliers are commonly discussed in introductory macroeconomics. Money multiplier[edit] Main article: Money multiplier See also: Fractional reserve banking In monetary microeconomics and banking, the money multiplier measures how much the money supply increases in response to a change in the monetary base. The multiplier may vary across countries, and will also vary depending on what measures of money are considered. For example, consider M2 as a measure of the U.S
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Scholasticism
Catholicism portal Philosophy
Philosophy
portalv t e Scholasticism
Scholasticism
is a method of critical thought which dominated teaching by the academics ("scholastics", or "schoolmen") of medieval universities in Europe from about 1100 to 1700, and a program of employing that method in articulating and defending dogma in an increasingly pluralistic context. It originated as an outgrowth of and a departure from Christian monastic schools at the earliest European universities.[1] The first institutions in the West to be considered universities were established in Italy, France, Spain, and England in the late 11th and 12th centuries for the study of arts, law, medicine, and theology,[2] such as Schola Medica Salernitana, the University
University
of Bologna, and the University
University
of Paris
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Sir John Sinclair, 1st Baronet
Sir John Sinclair of Ulbster, 1st Baronet
Baronet
(10 May 1754 – 21 December 1835) was a Scottish politician, writer on finance and agriculture and the first person to use the word statistics in the English language, in his vast, pioneering work, Statistical Account of Scotland, in 21 volumes. Sinclair was the eldest son of George Sinclair of Ulbster, a member of the family of the Earls of Caithness, and was born at Thurso Castle, Caithness. After studying at the universities of Edinburgh
Edinburgh
and Glasgow and at Trinity College, Oxford, he was admitted to the Faculty of Advocates in Scotland, and called to the English bar, though he never practised. In 1780, he was returned to the House of Commons for the Caithness constituency, and subsequently represented several English constituencies, his parliamentary career extending, with few interruptions, until 1811
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Arthur Young (writer)
Arthur Young (11 September 1741 – 12 April 1820)[1] was an English writer on agriculture, economics, social statistics, and campaigner for the rights of agricultural workers.[2] Not himself successful as a farmer, he built on connections and activities as a publicist a substantial reputation as an expert on agricultural improvement
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George Frederick Muntz
George Frederick Muntz (26 November 1794 – 30 July 1857) was an industrialist from Birmingham, England and a Liberal Party Member of Parliament (MP) for the Birmingham constituency from 1840 until his death. His father Philip Frederic Muntz came to England shortly after the French revolution.[1] As an industrialist, George Frederic Muntz developed Muntz Metal. This was a brass alloy intended to replace the copper that was then used to prevent fouling on ocean-going ships. Muntz was a supporter of political reform and a member of the Birmingham Political Union. In his actions that led to the Reform Act of 1832, he was indicted for sedition as he tried to undermine the Duke of Wellington with a run on gold: To stop the Duke, run for gold. He also was involved in a riot at Saint Martins in Birmingham in protest against the Church Rates which were levied at around 6d to 9d in the pound. He was sent to trial in 1838, but was acquitted on all but one of 13 charges
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Full Employment
Full employment
Full employment
means that everyone who wants a job have all the hours of work they need on "fair wages".[1] Because people switch jobs, full employment means a stable rate of unemployment around 1 to 2 per cent of the total workforce, but does not allow for underemployment where part-time workers cannot find hours they need for a decent living.[2] In macroeconomics, full employment is sometimes defined as the level of employment at which there is no cyclical or deficient-demand unemployment.[3] Some economists reject that full employment is a worthwhile goal, and see it as a necessary means to control inflation, i.e. to prevent inflation from accelerating
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Expansionary Monetary Policy
Monetary policy
Monetary policy
is the process by which the monetary authority of a country, typically the central bank or currency board, controls either the cost of very short-term borrowing or the monetary base, often targeting an inflation rate or interest rate to ensure price stability and general trust in the currency.[1][2][3] Further goals of a monetary policy are usually to contribute to the stability of gross domestic product, to achieve and maintain low unemployment, and to maintain predictable exchange rates with other currencies. Monetary economics
Monetary economics
provides insight into how to craft an optimal monetary policy. In developed countries, monetary policy has generally been formed separately from fiscal policy, which refers to taxation, government spending, and associated borrowing.[4] Monetary policy
Monetary policy
is referred to as being either expansionary or contractionary
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