|
James Laurence Laughlin
James Laurence Laughlin (April 2, 1850 – November 28, 1933) was an American economist and professor at Cornell University, Harvard University, and the University of Chicago, who helped to found the Federal Reserve System and was "one of the most ardent defenders of the gold standard." Biography Laughlin was born in Deerfield, Ohio on April 2, 1850. He received a Ph.D. from Harvard University in history. His thesis regarded "Anglo-Saxon Legal Procedure" and was supervised by Henry Adams. The other members of his program were Henry Cabot Lodge and Ernest Young. A conservative, he generally subscribed to the economic theories of John Stuart Mill and opposed bimetallism. Laughlin taught at Harvard University in Boston for five years, at Cornell University for two years, and then became the department-head of the new economics department at the University of Chicago from 1892 to 1916. Notably, he appointed many economists with whom he avidly disagreed, such as Thorstein Veble ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
South Lebanon, Ohio
South Lebanon is a city located in Union and Hamilton Townships in central Warren County in the southwestern part of the U.S. state of Ohio. The population was 6,384 at the 2020 census. History The first settlement at South Lebanon was made in the 1790s. The village was originally called "Deerfield" because it was the chief settlement of Deerfield Township, Warren County, Ohio, but renamed because of its proximity to the county seat of Lebanon. The new name of "South Lebanon" was adopted when the railroad was built through the neighborhood. A post office was established under the name Deerfield Village in 1828, and the name of the post office was changed to South Lebanon in 1871. Geography According to the United States Census Bureau, the village has a total area of , of which is land and is water. Demographics Most of the village is in the Kings Local School District, but parts are in the Little Miami Local and Lebanon City School Districts. It is entirely in the Sout ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Berlin
Berlin ( ; ) is the Capital of Germany, capital and largest city of Germany, by both area and List of cities in Germany by population, population. With 3.7 million inhabitants, it has the List of cities in the European Union by population within city limits, highest population within its city limits of any city in the European Union. The city is also one of the states of Germany, being the List of German states by area, third smallest state in the country by area. Berlin is surrounded by the state of Brandenburg, and Brandenburg's capital Potsdam is nearby. The urban area of Berlin has a population of over 4.6 million and is therefore the most populous urban area in Germany. The Berlin/Brandenburg Metropolitan Region, Berlin-Brandenburg capital region has around 6.2 million inhabitants and is Germany's second-largest metropolitan region after the Rhine-Ruhr region, as well as the List of EU metropolitan areas by GDP, fifth-biggest metropolitan region by GDP in the European Union. ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Banking
A bank is a financial institution that accepts Deposit account, deposits from the public and creates a demand deposit while simultaneously making loans. Lending activities can be directly performed by the bank or indirectly through capital markets. As banks play an important role in financial stability and the economy of a country, most jurisdictions exercise a high degree of Bank regulation, regulation over banks. Most countries have institutionalized a system known as fractional-reserve banking, under which banks hold liquid assets equal to only a portion of their current liabilities. In addition to other regulations intended to ensure accounting liquidity, liquidity, banks are generally subject to minimum capital requirements based on an international set of capital standards, the Basel Accords. Banking in its modern sense evolved in the fourteenth century in the prosperous cities of Renaissance Italy but, in many ways, functioned as a continuation of ideas and concepts o ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Money
Money is any item or verifiable record that is generally accepted as payment for goods and services and repayment of debts, such as taxes, in a particular country or socio-economic context. The primary functions which distinguish money are: medium of exchange, a unit of account, a store of value and sometimes, a standard of deferred payment. Money was historically an emergent market phenomenon that possessed intrinsic value as a commodity; nearly all contemporary money systems are based on unbacked fiat money without use value. Its value is consequently derived by social convention, having been declared by a government or regulatory entity to be legal tender; that is, it must be accepted as a form of payment within the boundaries of the country, for "all debts, public and private", in the case of the United States dollar. The money supply of a country comprises all currency in circulation (banknotes and coins currently issued) and, depending on the particular definiti ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Milton Friedman
Milton Friedman (; July 31, 1912 – November 16, 2006) was an American economist and statistician who received the 1976 Nobel Memorial Prize in Economic Sciences for his research on consumption analysis, monetary history and theory and the complexity of stabilization policy. With George Stigler, Friedman was among the intellectual leaders of the Chicago school of economics, a neoclassical school of economic thought associated with the faculty at the University of Chicago that rejected Keynesianism in favor of monetarism before shifting their focus to new classical macroeconomics in the mid-1970s. Several students, young professors and academics who were recruited or mentored by Friedman at Chicago went on to become leading economists, including Gary Becker, Robert Fogel, and Robert Lucas Jr. Friedman's challenges to what he called "naive Keynesian theory" began with his interpretation of consumption, which tracks how consumers spend. He introduced a theory w ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Economic Theory
Economics () is a behavioral science that studies the production, distribution, and consumption of goods and services. Economics focuses on the behaviour and interactions of economic agents and how economies work. Microeconomics analyses what is viewed as basic elements within economies, including individual agents and 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 investment expenditure interact; and the factors of production affecting them, such as: labour, capital, land, and enterprise, inflation, economic growth, and public policies that impact these elements. It also seeks to analyse and describe the global economy. Other broad distinctions within economics include those between positive economics, describing "what is", and normative economics, advo ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Wesley Clair Mitchell
Wesley Clair Mitchell (August 5, 1874 – October 29, 1948) was an American economist known for his empirical work on business cycles and for guiding the National Bureau of Economic Research in its first decades. Mitchell was referred to as Thorstein Veblen's "star student." Paul Samuelson named Mitchell (along with Harry Gunnison Brown, Allyn Abbott Young, Henry Ludwell Moore, Frank Knight, Jacob Viner, and Henry Schultz) as one of the several "American saints in economics" born after 1860. Biography Mitchell was born in Rushville, Illinois, the second child and oldest son of a Civil War army doctor turned farmer. In a family with seven children and a disabled father with an appetite for business ventures "verging on rashness" a lot of responsibility fell on the oldest son. Despite these challenges, Wesley Clair went to study at the University of Chicago and was awarded a PhD in 1899. Mitchell's career as a researcher and teacher took the following course: instructor in ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Fitchburg Sentinel
The ''Sentinel & Enterprise'' is a morning daily newspaper published in Fitchburg, Massachusetts, with a satellite news bureau in Leominster, Massachusetts. The newspaper covers local news in Fitchburg, Leominster and several nearby towns in northern Worcester County and northwest Middlesex County, Massachusetts. It is owned by MediaNews Group of Colorado., which is owned by the hedge fund Alden Global Capital. The main competitors to the ''Sentinel & Enterprise'' are the county's largest daily, the ''Telegram & Gazette'' of Worcester; on the west, '' The Gardner News''; and on the east, Nashoba Publishing weeklies and ''The Sun'' of Lowell, also owned by MediaNews. History Formed in 1973 by the merger of two newspapers covering adjacent cities, the daily traces its lineage back to the ''Fitchburg Sentinel'' (founded 1838) and ''Leominster Enterprise'' (1873).Elfland, Mike. "Sentinel & Enterprise Sale Set." ''Telegram & Gazette'' (Worcester, Mass.), January 8, 1997. In the ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Monetary Policy
Monetary policy is the policy adopted by the monetary authority of a nation to affect monetary and other financial conditions to accomplish broader objectives like high employment and price stability (normally interpreted as a low and stable rate of inflation). Further purposes of a monetary policy may be to contribute to economic stability or to maintain predictable exchange rates with other currencies. Today most central banks in developed countries conduct their monetary policy within an inflation targeting framework, whereas the monetary policies of most developing countries' central banks target some kind of a fixed exchange rate system. A third monetary policy strategy, targeting the money supply, was widely followed during the 1980s, but has diminished in popularity since then, though it is still the official strategy in a number of emerging economies. The tools of monetary policy vary from central bank to central bank, depending on the country's stage of development, inst ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Macroeconomics
Macroeconomics is a branch of economics that deals with the performance, structure, behavior, and decision-making of an economy as a whole. This includes regional, national, and global economies. Macroeconomists study topics such as output (economics), output/Gross domestic product, GDP (gross domestic product) and national income, unemployment (including Unemployment#Measurement, unemployment rates), price index, price indices and inflation, Consumption (economics), consumption, saving, investment (macroeconomics), investment, Energy economics, energy, international trade, and international finance. Macroeconomics and microeconomics are the two most general fields in economics. The focus of macroeconomics is often on a country (or larger entities like the whole world) and how its markets interact to produce large-scale phenomena that economists refer to as aggregate variables. In microeconomics the focus of analysis is often a single market, such as whether changes in supply or ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Santo Domingo
Santo Domingo, formerly known as Santo Domingo de Guzmán, is the capital and largest city of the Dominican Republic and the List of metropolitan areas in the Caribbean, largest metropolitan area in the Caribbean by population. the Distrito Nacional, city center had a population of 1,029,110 while its Metropolitan area, the Greater Santo Domingo, had a population of 4,274,651. The city is coterminous with the boundaries of the Distrito Nacional (D.N.), itself bordered on three sides by Santo Domingo Province. Santo Domingo was founded in 1496 by the Spanish Empire and is the oldest continuously inhabited European colonization of the Americas, European settlement in the Americas. It was the first seat of Spanish colonial rule in the New World, the Captaincy General of Santo Domingo. Santo Domingo is the site of the first university, cathedral, castle, monastery, and fortress in the New World. The city's Ciudad Colonial (Santo Domingo), Colonial Zone was declared as a World Herit ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
