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Enrico Barone
Enrico Barone (; 22 December 1859, Naples, Kingdom of the Two Sicilies – 14 May 1924, Rome, Italy) was a soldier, military historian, and an economist. Biography Barone studied the classics and mathematics before becoming an army officer. He taught military history for eight years from 1894 at the Officers' Training School. There he wrote a series of influential historical military works. In these he employed a method of successive approximations to which his study in economics had introduced him. In 1902, he became head of the historical office of the General Staff. He resigned his commission in 1906. From 1894 he collaborated with Maffeo Pantaleoni and Vilfredo Pareto in the ''Giornale degli Economisti''.F. Caffé, The New Palgrave: A Dictionary of Economics, [1987] 2008. "Barone, Enrico," ''The New Palgrave Dictionary of Economics'', 2nd Edition. Relatelinks Impact He was the first to state conditions under which a perfect competition, competitive market would be Pareto eff ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Factor Income
Factor income (also called primary income and earned income) is the flow of income that is derived from the factors of production, i.e., the general inputs required to produce goods and services. Factor income on the use of land is called rent, income generated from labor is called wages, and income generated from capital is divided between profit for equity owner and interest for creditor. The total amount of factor income received by the residents of a country is referred to as the national income, while factor income and current transfers together are referred to as disposable income. In contemporary national accounting, Indirect taxes minus subsidies are treated like factor income despite not meeting the definition. In earlier system like the 1953 SNAdefined to concept of GDP : the sum of all factor income called GDP at factor cost, and the sum of all expenditure called GDP at market price. (GDP at market price = GDP at factor cost + Indirect taxes minus subsidies). Fac ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Austrian School
The Austrian school is a Heterodox economics, heterodox Schools of economic thought, school of economic thought that advocates strict adherence to methodological individualism, the concept that social phenomena result primarily from the motivations and actions of individuals along with their self interest. Austrian-school theorists hold that economic theory should be exclusively derived from basic principles of human action.Ludwig von Mises. Human Action, p. 11, "Purposeful Action and Animal Reaction". Referenced 2011-11-23. The Austrian school originated in 1871 in Vienna with the work of Carl Menger, Eugen von Böhm-Bawerk, Friedrich von Wieser, and others. It was methodologically opposed to the Historical school of economics, Historical school, in a dispute known as ''Methodenstreit'', or methodology quarrel. Current-day economists working in this tradition are located in many countries, but their work is still referred to as Austrian economics. Among the theoretical contribu ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Shadow Price
A shadow price is the monetary value assigned to an abstract or intangible commodity which is not traded in the marketplace. This often takes the form of an externality. Shadow prices are also known as the recalculation of known market prices in order to account for the presence of distortionary market instruments (e.g. quotas, tariffs, taxes or subsidies). Shadow prices are the real economic prices given to goods and services after they have been appropriately adjusted by removing distortionary market instruments and incorporating the societal impact of the respective good or service. A shadow price is often calculated based on a group of assumptions and estimates because it lacks reliable data, so it is subjective and somewhat inaccurate. The need for shadow prices arises as a result of “externalities” and the presence of distortionary market instruments. An externality is defined as a cost or benefit incurred by a third party as a result of production or consumption of a g ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Barone - Principi Di Economia Finanziaria, 1937 - 5779302
Barone may refer to: *Barone (surname), Italian and Latvian surname *Metamizole, by the trade name ''Barone'' * Bar One, sometimes spelt BarOne, a brand of South African chocolate. * BARON.E, Swiss musical pop duo See also * *Baron Baron is a rank of nobility or title of honour, often Hereditary title, hereditary, in various European countries, either current or historical. The female equivalent is baroness. Typically, the title denotes an aristocrat who ranks higher than ..., a title of nobility * Pizzo Barone, a mountain in the Swiss Alps {{Disambiguation ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Foundations Of Economic Analysis
''Foundations of Economic Analysis'' is a book by Paul A. Samuelson published in 1947 (Enlarged ed., 1983) by Harvard University Press. It is based on Samuelson's 1941 doctoral dissertation at Harvard University. The book sought to demonstrate a common mathematical structure underlying multiple branches of economics from two basic principles: maximizing behavior of agents (such as of utility by consumers and profits by firms) and stability of equilibrium as to economic systems (such as markets or economies). Among other contributions, it advanced the theory of index numbers and generalized welfare economics. It is especially known for definitively stating and formalizing qualitative and quantitative versions of the " comparative statics" method for calculating how a change in any parameter (say, a change in tax rates) affects an economic system. One of its key insights about comparative statics, called the correspondence principle, states that stability of equilibrium impli ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Paul A
Paul may refer to: People * Paul (given name), a given name, including a list of people * Paul (surname), a list of people * Paul the Apostle, an apostle who wrote many of the books of the New Testament * Ray Hildebrand, half of the singing duo Paul & Paula * Paul Stookey, one-third of the folk music trio Peter, Paul and Mary * Billy Paul, stage name of American soul singer Paul Williams (1934–2016) * Vinnie Paul, drummer for American Metal band Pantera * Paul Avril, pseudonym of Édouard-Henri Avril (1849–1928), French painter and commercial artist * Paul, pen name under which Walter Scott wrote ''Paul's letters to his Kinsfolk'' in 1816 * Jean Paul, pen name of Johann Paul Friedrich Richter (1763–1825), German Romantic writer Places * Paul, Cornwall, a village in the civil parish of Penzance, United Kingdom *Paul (civil parish), Cornwall, United Kingdom * Paul, Alabama, United States, an unincorporated community * Paul, Idaho, United States, a city * Paul, Nebraska, ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Indifference Curve
In economics, an indifference curve connects points on a graph representing different quantities of two goods, points between which a consumer is ''indifferent''. That is, any combinations of two products indicated by the curve will provide the consumer with equal levels of utility, and the consumer has no preference for one combination or bundle of goods over a different combination on the same curve. One can also refer to each point on the indifference curve as rendering the same level of utility (satisfaction) for the consumer. In other words, an indifference curve is the locus of various points showing different combinations of two goods providing equal utility to the consumer. Utility is then a device to represent preferences rather than something from which preferences come. The main use of indifference curves is in the representation of potentially observable demand patterns for individual consumers over commodity bundles. Indifference curve analysis is a purely technol ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Utility
In economics, utility is a measure of a certain person's satisfaction from a certain state of the world. Over time, the term has been used with at least two meanings. * In a normative context, utility refers to a goal or objective that we wish to maximize, i.e., an objective function. This kind of utility bears a closer resemblance to the original utilitarian concept, developed by moral philosophers such as Jeremy Bentham and John Stuart Mill. * In a descriptive context, the term refers to an ''apparent'' objective function; such a function is revealed by a person's behavior, and specifically by their preferences over lotteries, which can be any quantified choice. The relationship between these two kinds of utility functions has been a source of controversy among both economists and ethicists, with most maintaining that the two are distinct but generally related. Utility function Consider a set of alternatives among which a person has a preference ordering. A utility fu ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Index (economics)
In economics, statistics, and finance, an index is a number that measures how a group of related data points—like prices, company performance, productivity, or employment—changes over time to track different aspects of economic health from various sources. Consumer-focused indices include the Consumer Price Index (CPI), which shows how retail prices for goods and services shift in a fixed area, aiding adjustments to salaries, Bond (finance), bond interest rates, and tax thresholds for inflation. The cost-of-living index (COLI) compares living expenses over time or across places.Turvey, Ralph. (2004) Consumer Price Index Manual: Theory And Practice.' Page 11. Publisher: International Labour Organization. . ''The Economist''’s Big Mac Index uses a Big Mac’s cost to explore currency values and purchasing power. Market performance indices track trends like company value or employment. Stock market index, Stock market indices include the Dow Jones Industrial Average and S&P 500, ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Market Equilibrium
In economics, economic equilibrium is a situation in which the economic forces of supply and demand are balanced, meaning that economic variables will no longer change. Market equilibrium in this case is a condition where a market price is established through competition such that the amount of goods or services sought by buyers is equal to the amount of goods or services produced by sellers. This price is often called the competitive price or market clearing price and will tend not to change unless demand or supply changes, and quantity is called the "competitive quantity" or market clearing quantity. Understanding economic equilibrium An economic equilibrium is a situation when the economic agent cannot change the situation by adopting any strategy. The concept has been borrowed from the physical sciences. Take a system where physical forces are balanced for instance.This economically interpreted means no further change ensues. Properties of equilibrium Three basic properti ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Trial And Error
Trial and error is a fundamental method of problem-solving characterized by repeated, varied attempts which are continued until success, or until the practicer stops trying. According to W.H. Thorpe, the term was devised by C. Lloyd Morgan (1852–1936) after trying out similar phrases "trial and failure" and "trial and practice". Under Morgan's Canon, animal behaviour should be explained in the simplest possible way. Where behavior seems to imply higher mental processes, it might be explained by trial-and-error learning. An example is a skillful way in which his terrier Tony opened the garden gate, easily misunderstood as an insightful act by someone seeing the final behavior. Lloyd Morgan, however, had watched and recorded the series of approximations by which the dog had gradually learned the response, and could demonstrate that no insight was required to explain it. Edward Lee Thorndike was the initiator of the theory of trial and error learning based on the findings h ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
