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Alan Walters
Sir Alan Arthur Walters (17 June 1926 – 3 January 2009) was a British economist who was best known as the Chief Economic Adviser to Prime Minister Margaret Thatcher from 1981 to 1983 and (after his return from the United States) again for five months in 1989. Early life Walters was born in Leicester. His father was a Communist and a grocer who sold goods from a van. He failed his 11-Plus and attended Alderman Newton's School in Leicester, leaving at fifteen to work as a machine operator in a shoe factory. During World War II, he was called up and joined the British Army as a private. Academic career Walters studied statistics at University College Leicester and then went to Nuffield College, Oxford, where he took an MA in economics. On leaving Nuffield in 1951, he took up a post to teach statistics at Birmingham University, later becoming professor of econometrics and statistics there in the early 1960s. He was one of the first British economists to argue that ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Monetarism
Monetarism is a school of thought in monetary economics that emphasizes the role of policy-makers in controlling the amount of money in circulation. It gained prominence in the 1970s, but was mostly abandoned as a direct guidance to monetary policy during the following decade because of the rise of inflation targeting through movements of the official interest rate. The monetarist theory states that variations in the money supply have major influences on national output in the short run and on price levels over longer periods. Monetarists assert that the objectives of monetary policy are best met by targeting the growth rate of the money supply rather than by engaging in discretionary monetary policy. Phillip Cagan, 1987. "Monetarism", '' The New Palgrave: A Dictionary of Economics'', v. 3, Reprinted in John Eatwell et al. (1989), ''Money: The New Palgrave'', pp. 195–205, 492–97. Monetarism is commonly associated with neoliberalism. Monetarism is mainly associated ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Master Of Arts
A Master of Arts ( or ''Artium Magister''; abbreviated MA or AM) is the holder of a master's degree awarded by universities in many countries. The degree is usually contrasted with that of Master of Science. Those admitted to the degree have typically studied subjects within the scope of the humanities and social sciences, such as history, literature, languages, linguistics, public administration, political science, communication studies, law or diplomacy; however, different universities have different conventions and may also offer the degree for fields typically considered within the natural sciences and mathematics. The degree can be conferred in respect of completing courses and passing examinations, research, or a combination of the two. The degree of Master of Arts traces its origins to the teaching license or of the University of Paris, designed to produce "masters" who were graduate teachers of their subjects. Europe Czech Republic and Slovakia Like all EU membe ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
European Monetary System
The European Monetary System (EMS) was a multilateral adjustable exchange rate agreement in which most of the nations of the European Economic Community (EEC) linked their currencies to prevent large fluctuations in relative value. It was initiated in 1979 under then President of the European Commission Roy Jenkins as an agreement among the Member States of the EEC to foster monetary policy co-operation among their Central Banks for the purpose of managing inter-community exchange rates and financing exchange market interventions. The EMS functioned by adjusting nominal and real exchange rates, thus establishing closer monetary cooperation and creating a zone of monetary stability. As part of the EMS, the EEC established the first European Exchange Rate Mechanism (ERM) which calculated exchange rates for each currency and a European Currency Unit (ECU): an accounting currency unit that was a weighted average of the currencies of the 12 participating states. The ERM let exchan ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Poll Tax (Great Britain)
The Community Charge, colloquially known as the Poll Tax, was a system of local taxation introduced by Margaret Thatcher's government whereby each taxpayer was taxed the same fixed sum (a "poll tax" or "head tax"), with the precise amount being set by each local authority. It replaced domestic rates in Local government in Scotland, Scotland from 1989, prior to its introduction in Local government in England, England and Local government in Wales, Wales from 1990. The repeal of the poll tax was announced in 1991, and in 1993, the current system of the Council Tax was instated. Origins The abolition of the Rates in the United Kingdom, rating system of taxes (based on the notional rental value of a house) to fund local government in the United Kingdom, local government had been unveiled by Margaret Thatcher when she was Shadow Environment Secretary in 1974, and was included in the manifesto of the Conservative Party (UK), Conservative Party in the October 1974 United Kingdom gene ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Nigel Lawson
Nigel Lawson, Baron Lawson of Blaby, (11 March 1932 – 3 April 2023) was a British politician and journalist. A member of the Conservative Party, he served as Member of Parliament for Blaby in Leicestershire from 1974 to 1992, and served in Margaret Thatcher's Cabinet from 1981 to 1989. Prior to entering the Cabinet, he served as the Financial Secretary to the Treasury from May 1979 until his promotion to Secretary of State for Energy. He was appointed Chancellor of the Exchequer in June 1983 and served until his resignation in October 1989. In both Cabinet posts, Lawson was a key proponent of Thatcher's policies of privatisation of several key industries. Lawson was a backbencher from 1989 until he retired in 1992 and sat in the House of Lords from 1992 to his further retirement in 2022. He remained active in politics as the president of Conservatives for Britain, a campaign for Britain to leave the European Union, and was a prominent critic of the EU. He also served a ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Chancellor Of The Exchequer
The chancellor of the exchequer, often abbreviated to chancellor, is a senior minister of the Crown within the Government of the United Kingdom, and the head of HM Treasury, His Majesty's Treasury. As one of the four Great Offices of State, the chancellor is a high-ranking member of the British Cabinet. Responsible for all economic and financial matters, the role is equivalent to that of a finance minister in other countries. The chancellor is now always second lord of the Treasury as one of at least six Lords Commissioners of the Treasury, lords commissioners of the Treasury, responsible for executing the office of the Treasurer of the Exchequer the others are the prime minister and Commons government whips. In the 18th and early 19th centuries, it was common for the prime minister also to serve as Chancellor of the Exchequer if he sat in the Commons; the last Chancellor who was simultaneously prime minister and Chancellor of the Exchequer was Stanley Baldwin in 1923. Formerl ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
The Times
''The Times'' is a British Newspaper#Daily, daily Newspaper#National, national newspaper based in London. It began in 1785 under the title ''The Daily Universal Register'', adopting its modern name on 1 January 1788. ''The Times'' and its sister paper ''The Sunday Times'' (founded in 1821), are published by Times Media, since 1981 a subsidiary of News UK, in turn wholly owned by News Corp. ''The Times'' and ''The Sunday Times'' were founded independently and have had common ownership only since 1966. It is considered a newspaper of record in the UK. ''The Times'' was the first newspaper to bear that name, inspiring numerous other papers around the world. In countries where these other titles are popular, the newspaper is often referred to as or , although the newspaper is of national scope and distribution. ''The Times'' had an average daily circulation of 365,880 in March 2020; in the same period, ''The Sunday Times'' had an average weekly circulation of 647,622. The two ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Pandora's Box (British TV Series)
''Pandora's Box'', subtitled ''A Fable From the Age of Science'', is a BBC television documentary series by Adam Curtis looking at the consequences of political and technocratic rationalism. It won a BAFTA for Best Factual Series in 1993. Curtis deals with, in order: Communism in the Soviet Union, systems analysis and game theory during the Cold War, economy of the United Kingdom during the 1970s, the insecticide DDT, Kwame Nkrumah's leadership in Ghana in the 1950s, and the history of nuclear power. The documentary makes extensive use of clips from the short film '' Design for Dreaming'', especially in the title sequence. Curtis's later series ''The Century of the Self'' and '' The Trap'' have similar themes to ''Pandora's Box''. Background Adam Curtis explained the background to the series: "I grew up in the late Fifties and Sixties. To me, the scientist was a heroic figure in a white coat, who stood proudly in a gleaming laboratory. Everyone was captivated by the idea that ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Budget
A budget is a calculation plan, usually but not always financial plan, financial, for a defined accounting period, period, often one year or a month. A budget may include anticipated sales volumes and revenues, resource quantities including time, costs and expenses, environmental impacts such as greenhouse gas emissions, other impacts, assets, Liability (financial accounting), liabilities and cash flows. Companies, governments, families, and other organizations use budgets to express strategic planning, strategic plans of activities in measurable terms. Preparing a budget allows Company, companies, Public authority, authorities, private entities or Family, families to establish priorities and evaluate the achievement of their objectives. To achieve these goals it may be necessary to incur a Deficit spending, deficit (expenses exceed income) or, on the contrary, it may be possible to save, in which case the budget will present a Surplus (economics), surplus (income exceed expense ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
1979 United Kingdom General Election
The 1979 United Kingdom general election was held on Thursday 3 May 1979 to elect List of MPs elected in the 1979 United Kingdom general election, 635 members to the House of Commons of the United Kingdom, House of Commons. The election was held following the defeat of the Labour government in a no-confidence motion on 28 March 1979, six months before the Parliament was due for dissolution in October 1979. The Conservative Party (UK), Conservative Party, led by Margaret Thatcher, ousted the incumbent Labour Party (UK), Labour government of Prime Minister James Callaghan, gaining a parliamentary majority of 43 seats. The election was the first of four consecutive election victories for the Conservative Party, and Thatcher became the United Kingdom's and Europe's first elected female head of government, marking the beginning of 18 years in government for the Conservatives and 18 years in opposition for Labour. Unusually, the date chosen coincided with the 1979 United Kingdom loca ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Econometrica
''Econometrica'' is a peer-reviewed academic journal of economics, publishing articles in many areas of economics, especially econometrics. It is published by Wiley-Blackwell on behalf of the Econometric Society. The current editor-in-chief is Guido Imbens. History ''Econometrica'' was established in 1933. Its first editor was Ragnar Frisch, recipient of the first Nobel Memorial Prize in Economic Sciences in 1969, who served as an editor from 1933 to 1954. Although ''Econometrica'' is currently published entirely in English, the first few issues also contained scientific articles written in French. Indexing and abstracting ''Econometrica'' is abstracted and indexed in: * Scopus * EconLit * Social Sciences Citation Index According to the ''Journal Citation Reports'', the journal has a 2020 impact factor The impact factor (IF) or journal impact factor (JIF) of an academic journal is a type of journal ranking. Journals with higher impact factor values are considered mo ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Long-run Cost Curve
{{more references, date=September 2010 In economics, a cost function represents the minimum cost of producing a quantity of some good. The long-run cost curve is a cost function that models this minimum cost over time, meaning inputs are not fixed. Using the long-run cost curve, firms can scale their means of production to reduce the costs of producing the good.Fuss M.A. (1987) Production and Cost Functions. In: Palgrave Macmillan (eds) The New Palgrave Dictionary of Economics. Palgrave Macmillan, London There are three principal cost functions (or 'curves') used in microeconomic analysis: * Long-run total cost (LRTC) is the cost function that represents the total cost of production for all goods produced. * Long-run average cost (LRAC) is the cost function that represents the average cost per unit of producing some good. * Long-run marginal cost (LRMC) is the cost function that represents the cost of producing one more unit of some good. The idealized "long run" for a firm refe ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
