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Mancur Olson
Mancur Lloyd Olson Jr. (; January 22, 1932 – February 19, 1998) was an American economist and political scientist who taught at the University of Maryland, College Park. His most influential contributions were to new institutional economics, and focused on the role played by private property, taxation, public goods, collective action, and contract rights in economic development. Early life and education Olson was born on January 22, 1932, in Grand Forks, North Dakota, to a family of Norwegian immigrants. He grew up on a farm near Buxton, North Dakota, next to the state border with Climax, Minnesota. Olson claimed that his given name, Mancur, was common throughout Scandinavian-immigrant communities in North America and was a variation of the Arabic name Mansoor. Olson graduated from North Dakota State University in 1954, and was a Rhodes Scholar at University College, Oxford from 1954 to 1956, before earning a PhD in economics from Harvard in 1963. He also served in the ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
New Institutional Economics
New Institutional Economics (NIE) is an economic perspective that attempts to extend economics by focusing on the institutions (that is to say the social and legal norms and rules) that underlie economic activity and with analysis beyond earlier institutional economics and neoclassical economics. The NIE assume that individuals are rational and that they seek to maximize their preferences, but that they also have cognitive limitations, lack complete information and have difficulties monitoring and enforcing agreements. As a result, institutions form in large part as an effective way to deal with transaction costs. NIE rejects that the state is a neutral actor (rather, it can hinder or facilitate effective institutions), that there are zero transaction costs, and that actors have fixed preferences. Overview It has its roots in two articles by Ronald Coase, " The Nature of the Firm" (1937) and " The Problem of Social Cost" (1960). In the latter, the Coase theorem (as it was su ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Private Property
Private property is a legal designation for the ownership of property by non-governmental Capacity (law), legal entities. Private property is distinguishable from public property, which is owned by a state entity, and from Collective ownership, collective or cooperative property, which is owned by one or more non-governmental entities. Private property is foundational to capitalism, an economic system based on the private ownership of the means of production and their operation for Profit (economics), profit. As a legal concept, private property is defined and enforced by a country's political system. History The first evidence of private property may date back to the Babylonians in 1800 BC, as evidenced by the archeological discovery of Plimpton 322, a clay tablet used for calculating property boundaries; however, written discussions of private property were not seen until the Persian Empire, and emerged in the Western tradition at least as far back as Plato. Before the 1 ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
United States Air Force Academy
The United States Air Force Academy (USAFA) is a United States service academies, United States service academy in Air Force Academy, Colorado, Air Force Academy Colorado, immediately north of Colorado Springs, Colorado, Colorado Springs. It educates cadets for service in the Officer (armed forces), officer corps of the United States Air Force and United States Space Force. It is the youngest of the five service academies, having graduated its first class in 1959, but is the third in seniority. Graduates of the academy's four-year program receive a Bachelor of Science degree and are commissioned as US Second Lieutenant, second lieutenants in the U.S. Air Force or U.S. Space Force. The academy is also one of the largest tourist attractions in Colorado, attracting approximately a million visitors each year. Admission is competitive, with nominations divided equally among Congressional districts of the United States, Congressional districts. Recent incoming classes have had ab ... [...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] |
University College, Oxford
University College, formally The Master and Fellows of the College of the Great Hall of the University commonly called University College in the University of Oxford and colloquially referred to as "Univ", is a Colleges of the University of Oxford, constituent college of the University of Oxford in England. It has a claim to being the oldest college of the university, having been founded by William of Durham in 1249. As of 2023, the college had an estimated financial endowment of £146.084 million, and their total net assets amounted to £238.316 million. The college is associated with a number of List of alumni of University College, Oxford, influential people, including Clement Attlee, Harold Wilson, Bill Clinton, Bill and Chelsea Clinton, Neil Gorsuch, Stephen Hawking, C. S. Lewis, V. S. Naipaul, Robert Reich, William Beveridge, Bob Hawke, Robert Cecil, 1st Viscount Cecil of Chelwood, Robert Cecil, Tom Hooper, and Percy Bysshe Shelley. History A legend arose in the 14th c ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Rhodes Scholar
The Rhodes Scholarship is an international Postgraduate education, postgraduate award for students to study at the University of Oxford in Oxford, United Kingdom. The scholarship is open to people from all backgrounds around the world. Established in 1902, it is one of the oldest graduate scholarships in the world and one of the most prestigious international scholarship programs. Its founder, Cecil Rhodes, Cecil John Rhodes, wanted to promote unity among English-speaking nations and instill a sense of civic-minded leadership and moral fortitude in future leaders, irrespective of their chosen career paths. The scholarship committee selects candidates based on a combination of literary and academic achievements, athletic involvement, character traits like truth and courage, and leadership potential, originally assessed on a 200-point scale. In 2018, the criteria were revised to emphasize using one's talents and caring for others. The American Rhodes Scholarship is highly com ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Mansoor
Mansour (, Manṣūr); also spelled Mounsor, Monsur (Bengali), Mansoor, Manser, Mansur, Mansyur (Indonesian) or Mensur (Turkish), is a male Arabic name that means "He who is victorious", from the Arabic root '' naṣr'' (نصر), meaning "victory." The first known bearer of the name was Mansur ibn Sarjun, Byzantine governor of Damascus in the late 500s and early 600s, who surrendered the city to the Muslims in 635. Other people called Mansur include, during the golden Age of Islam: * Al-Mansur, second Abbasid caliph and the founder of Baghdad. * Ismail al-Mansur, third ruler of the Fatimid dynasty ruled from 946 to 953. * Mansur Al-Hallaj, Persian mystic, writer, and teacher of Sufism * Almanzor, 10th-century ruler of al-Andalus * Mansur ibn Ilyas, Timurid physician * Mansur Khan (Moghul Khan), a khan of Moghulistan * Mansur Shah of Malacca, a sultan of Malacca * Mansur I of Samanid and Mansur II of Samanid, amirs of the Samanids * Mansur ad-Din of Adal, 15th-century su ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Climax, Minnesota
Climax is a city in Polk County, Minnesota, United States. It is part of the Grand Forks, ND- MN Metropolitan Statistical Area. The population was 243 at the 2020 census. Geography According to the United States Census Bureau, the city has a total area of , all land. It is located on the Sand Hill River, which joins the Red River of the North about two miles (3 km) to the west. U.S. Highway 75 and Minnesota Highway 220 are two of the main routes in the community. Demographics 2010 census As of the 2010 census, there were 267 people, 112 households, and 63 families living in the city. The population density was . There were 118 housing units at an average density of . The racial makeup of the city was 94.4% White, 1.9% African American, 0.7% Native American, 1.1% from other races, and 1.9% from two or more races. Hispanic or Latino of any race were 6.7% of the population. There were 112 households, of which 35.7% had children under the age of 18 living with the ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Buxton, North Dakota
Buxton is a city in Traill County, North Dakota, United States. The population was 348 at the 2020 census. Buxton was founded in 1880. History Buxton was founded in 1880 in Buxton Township as a townsite along the Great Northern Railroad in 1880. The post office began operating in November of that year. It was incorporated as a village in 1922. It became a city in 1967, after the North Dakota Legislature enacted legislation that eliminated all existing incorporation titles for towns and villages in the state. The town was named after Thomas J. Buxton, who at the time was the city treasurer in Minneapolis, Minnesota. Buxton was a close friend and business associated of the town's founder, Budd Reeve. Geography According to the United States Census Bureau, the city has a total area of , all land. Demographics 2020 census As of the 2020 census, there were 348 people, 132 households, and 97 families residing in the city. The population density was . There were 143 housing ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Norwegian-American
Norwegian Americans () are Americans with ancestral roots in Norway. Norwegian immigrants went to the United States primarily in the latter half of the 19th century and the first few decades of the 20th century. There are more than 4.5 million Norwegian Americans, according to the 2021 U.S. census; most live in the Upper Midwest and on the West Coast of the United States. Immigration Viking-era exploration Norsemen from Greenland and Iceland were the first Europeans to reach North America. Leif Erikson reached North America via Norse settlements in Greenland around the year 1000. Norse settlers from Greenland founded the settlement of L'Anse aux Meadows in Vinland, in what is now Newfoundland, Canada. These settlers failed to establish a permanent settlement because of conflicts with indigenous people and within the Norse community. Colonial settlement The Netherlands, and especially the cities of Amsterdam and Hoorn, had strong commercial ties with the coastal lumber ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Economic Development
In economics, economic development (or economic and social development) is the process by which the economic well-being and quality of life of a nation, region, local community, or an individual are improved according to targeted goals and objectives. The term has been used frequently in the 20th and 21st centuries, but the concept has existed in the West for far longer. "Modernization", "Westernization", and especially "industrialization" are other terms often used while discussing economic development. Historically, economic development policies focused on industrialization and infrastructure; since the 1960s, it has increasingly focused on poverty reduction. Whereas economic development is a Public policy, policy intervention aiming to improve the well-being of people, economic growth is a phenomenon of market productivity and increases in GDP; economist Amartya Sen describes economic growth as but "one aspect of the process of economic development". Definition and terminolo ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Contract
A contract is an agreement that specifies certain legally enforceable rights and obligations pertaining to two or more parties. A contract typically involves consent to transfer of goods, services, money, or promise to transfer any of those at a future date. The activities and intentions of the parties entering into a contract may be referred to as contracting. In the event of a breach of contract, the injured party may seek judicial remedies such as damages or equitable remedies such as specific performance or rescission. A binding agreement between actors in international law is known as a treaty. Contract law, the field of the law of obligations concerned with contracts, is based on the principle that agreements must be honoured. Like other areas of private law, contract law varies between jurisdictions. In general, contract law is exercised and governed either under common law jurisdictions, civil law jurisdictions, or mixed-law jurisdictions that combine elem ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
