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Budget Cut
In economic policy, austerity is a set of political-economic policies that aim to reduce government budget deficits through spending cuts, tax increases, or a combination of both. There are three primary types of austerity measures: higher taxes to fund spending, raising taxes while cutting spending, and lower taxes and lower government spending. Austerity measures are often used by governments that find it difficult to borrow or meet their existing obligations to pay back loans. The measures are meant to reduce the budget deficit by bringing government revenues closer to expenditures. Proponents of these measures state that this reduces the amount of borrowing required and may also demonstrate a government's fiscal discipline to creditors and credit rating agencies and make borrowing easier and cheaper as a result. In most macroeconomic models, austerity policies which reduce government spending lead to increased unemployment in the short term. These reductions in employ ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Economic Policy
''Economic Policy'' is a quarterly peer-reviewed academic journal published by Oxford University Press, Oxford Academic on behalf of the Centre for Economic Policy Research, the Center for Economic Studies (University of Munich), and the Paris School of Economics. The journal was established in 1985 and covers international economic policy topics such as macroeconomics, microeconomics, the labour market, trade, exchange rate, taxation, economic growth, government spending, and Human migration, migration. The journal had an impact factor of 2.844 in 2016, ranking it 33/347 in the category "Economics". References External links * {{Official website, https://academic.oup.com/economicpolicy Wiley-Blackwell academic journals English-language journals Academic journals established in 1985 Quarterly journals Economics journals ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Skilled Worker
A skilled worker is any worker who has special skill, training, or knowledge which they can then apply to their work. A skilled worker may have learned their skills through work experience, on-the-job training, an apprenticeship program or formal education. These skills often lead to better outcomes economically. The definition of a skilled worker has seen change throughout the 20th century, largely due to the industrial impact of the Great Depression and World War II. Further changes in globalisation have seen this definition shift further in Western countries, with many jobs moving from manufacturing based sectors to more advanced technical and service based roles. Examples of formally educated skilled labor include engineers, scientists, doctors and teachers, while examples of less formally educated workers include crane operators, CDL truck drivers, machinists, drafters, plumbers, craftsmen, cooks and bookkeepers. History In the northern region of the United Sta ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Fascist
Fascism ( ) is a far-right, authoritarian, and ultranationalist political ideology and movement. It is characterized by a dictatorial leader, centralized autocracy, militarism, forcible suppression of opposition, belief in a natural social hierarchy, subordination of individual interests for the perceived interest of the nation or race, and strong regimentation of society and the economy. Opposed to communism, democracy, liberalism, pluralism, and socialism, fascism is at the far right of the traditional left–right spectrum.; ; ; ; ; ; ; ; ; ; ; ; ; Fascism rose to prominence in early-20th-century Europe. The first fascist movements emerged in Italy during World War I, before spreading to other European countries, most notably Germany. Fascism also had adherents outside of Europe. Fascists saw World War I as a revolution that brought massive changes to the nature of war, society, the state, and technology. The advent of total war and the mass mobilization of so ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Fascist Italy (1922–1943)
Fascist Italy () is a term which is used in historiography to describe the Kingdom of Italy between 1922 and 1943, when Benito Mussolini and the National Fascist Party controlled the country, transforming it into a totalitarian dictatorship. The Italian Fascists imposed totalitarian rule and crushed political opposition, while simultaneously promoting Modernization theory, economic modernization, traditional social values and a rapprochement with the Roman Catholic Church. According to historian Stanley G. Payne, "[the] Fascist government passed through several relatively distinct phases". The first phase (1922–1925) was nominally a continuation of the parliamentary system, albeit with a "legally-organized executive dictatorship". In foreign policy, Mussolini ordered the pacification of Libya against rebels in the Italian colonies of Italian Tripolitania, Tripolitania and Italian Cyrenaica, Cyrenaica (eventually unified in Italian Libya), inflicted the Corfu incident, bombing ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Rutgers University Press
Rutgers University Press (RUP) is a nonprofit academic publishing house, operating in New Brunswick, New Jersey under the auspices of Rutgers University Rutgers University ( ), officially Rutgers, The State University of New Jersey, is a Public university, public land-grant research university consisting of three campuses in New Jersey. Chartered in 1766, Rutgers was originally called Queen's C .... History Rutgers University Press, a nonprofit academic publishing house operating in Piscataway, New Jersey, under the auspices of Rutgers University, was founded on March 26, 1936. Since then, the press has grown in size and the scope of its publishing program. Among the original areas of specialization were Civil War history and European history. The press’ current areas of specialization include sociology, anthropology, health policy, history of medicine, human rights, urban studies, Jewish studies, American studies, film and media studies, the environment, and books about ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Forced Labor
Forced labour, or unfree labour, is any work relation, especially in modern or early modern history, in which people are employed against their will with the threat of destitution, detention, or violence, including death or other forms of extreme hardship to either themselves or members of their families. Unfree labour includes all forms of slavery, penal labour, and the corresponding institutions, such as debt slavery, serfdom, corvée and labour camps. Definition Many forms of unfree labour are also covered by the term forced labour, which is defined by the International Labour Organization (ILO) as all involuntary work or service exacted under the menace of a penalty.Andrees and Belser, "Forced labor: Coercion and exploitation in the private economy", 2009. Rienner and ILO. However, under the ILO Forced Labour Convention of 1930, the term forced or compulsory labour does not include: *"any work or service exacted in virtue of compulsory military service laws for w ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
United States Occupation Of Haiti
The United States occupation of Haiti began on July 28, 1915, when 330 United States Marine Corps, US Marines landed at Port-au-Prince, Republic of Haiti (1859–1957), Haiti, after the Citibank, National City Bank of New York convinced the President of the United States, Woodrow Wilson, to take control of Haiti's political and financial interests. The July 1915 occupation took place following years of socioeconomic instability within Haiti that culminated with the lynching of President of Haiti Vilbrun Guillaume Sam by a mob angered by his decision to order the executions of political prisoners. During the occupation, Haiti had three new presidents while the United States ruled as a military regime through martial law led by Marines and the Gendarmerie. A corvée system of forced labor was used by the United States for infrastructure projects, resulting in hundreds to thousands of deaths. Under the occupation, most Haitians continued to live in poverty, while American pers ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Expansionary Fiscal Contraction
The Expansionary Fiscal Contraction (EFC) hypothesis predicts that, under certain circumstances, a major reduction in government spending (such as austerity measures) that changes future expectations about taxes and government spending will expand private consumption, resulting in overall economic expansion. This hypothesis was introduced by Francesco Giavazzi and Marco Pagano in 1990 in a paper that used the fiscal restructurings of Denmark and Ireland in the 1980s as examples. The concept that fiscal contraction can result in growth is commonly known as "expansionary austerity". Theoretical basis The authors describe this as the "German view" of budget-cutting. The German view also includes the more traditional assumption that reducing government expenditures as a percent of GDP will lessen crowding out, making "room for the private sector to expand" which only operates when the economy is near full employment. The authors also did not provide a model for EFC but rather de ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Alberto Alesina
Alberto Francesco Alesina (29 April 1957 – 23 May 2020) was an Italian economist who was the Nathaniel Ropes Professor of Political Economy at Harvard University from 2003 until his death in 2020. He was known principally as an economist of politics and culture, and was famed for his usage of economic tools to study social and political issues. He was described as having “almost single-handedly” established the modern field of political economy, and as a likely contender for the Nobel Memorial Prize in Economic Sciences. Background and professional life Alberto Alesina was born in Broni in 1957. His father was an engineer and industrial manager, and his mother was a teacher. He attended a classical lyceum in Milan, before enrolling at Bocconi University to study economics and social sciences, where he received a laurea in 1981. He then went on to graduate study at Harvard University, where he received a PhD in economics in 1986. His doctoral adviser at Harvard was Jef ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
The New York Times
''The New York Times'' (''NYT'') is an American daily newspaper based in New York City. ''The New York Times'' covers domestic, national, and international news, and publishes opinion pieces, investigative reports, and reviews. As one of the longest-running newspapers in the United States, the ''Times'' serves as one of the country's Newspaper of record, newspapers of record. , ''The New York Times'' had 9.13 million total and 8.83 million online subscribers, both by significant margins the List of newspapers in the United States, highest numbers for any newspaper in the United States; the total also included 296,330 print subscribers, making the ''Times'' the second-largest newspaper by print circulation in the United States, following ''The Wall Street Journal'', also based in New York City. ''The New York Times'' is published by the New York Times Company; since 1896, the company has been chaired by the Ochs-Sulzberger family, whose current chairman and the paper's publ ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Deficit Spending
Within the budgetary process, deficit spending is the amount by which spending exceeds revenue over a particular period of time, also called simply deficit, or budget deficit, the opposite of budget surplus. The term may be applied to the budget of a government, private company, or individual. A central point of controversy in economics, government deficit spending was first identified as a necessary economic tool by John Maynard Keynes in the wake of the Great Depression. Controversy Government deficit spending is a central point of controversy in economics, with prominent economists holding differing views. The mainstream economics position is that deficit spending is desirable and necessary as part of countercyclical fiscal policy, but that there should not be a structural deficit (i.e., permanent deficit): The government should run deficits during recessions to compensate for the shortfall in aggregate demand, but should run surpluses in boom times so that there is no ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Output Gap
The GDP gap or the output gap is the difference between actual GDP or actual output and potential GDP, in an attempt to identify the current economic position over the business cycle. The measure of output gap is largely used in macroeconomic policy (in particular in the context of EU fiscal rules compliance). The GDP gap is a highly criticized notion, in particular due to the fact that the potential GDP is not an observable variable, it is instead often derived from past GDP data, which could lead to systemic downward biases."True, the output gap is an elusive concept that should never have become a gauge for conducting public policy, and it may be larger than thought."Monetary policy: lifting the veil of effectivenes Speech by Benoit Cœuré, 18 December 2019 Calculation The calculation for the output gap is (Y–Y*)/Y* where Y is actual output and Y* is potential output. If this calculation yields a positive number it is called an inflationary gap and indicates the growt ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
