Search results for keyword: paul
Diamond and Water Paradox
The Diamond-Water Paradox is one of the earliest paradoxes of economics. It was first introduced by Adam Smith, the father of modern economics, and has been the subject of much discussion in the centuries since.
At its core, the Diamond-Water Paradox raises the question of why a commodity such a......
15/07/2023 
1057 
Samantha
paul Samuelson's Tax Thoughts
paul Samuelson was a pioneering economic theorist and the first American Nobel Prize winner in economics. He is credited with synthesizing classical, Keynesian, and modern economic theories into a single body of knowledge, thus creating what is now known as neoclassical economics. His work laid th......
Charles de Scendel Montesquieu's Tax Thoughts
Charles T. Sprague Spaulding M.D.s Taxation Theory
Charles T. Sprague Spaulding, M.D. (1882-1964) was a lawyer, economist and fiscal theorist. He was renowned internationally as an expert in the field of taxation, due to his long and successful career in government and business, as well as his pa......
FACS
The impact of technology on humanity has been profound. From the invention of the wheel to the emergence of the Internet, technology has impacted the way people think, behave and interact with the world around them. Everything from the invention of the steam engine to the development of geneticall......
Blau's social exchange theory
George Homans-Social Exchange Theory
Introduction
George Homans (1910-1989), a Harvard University Sociology professor, created what is known as the Social Exchange Theory (SET). Though Homans did not originate the theory, his research greatly contributed to our understanding of how people engage......
International Production Eclecticism
International Production Synthesis Theory
Introduction
The international production synthesis theory is an economic principle that suggests that international production decisions should be based on both domestic and foreign market considerations. It is based on the idea that the combination of ......
Samuelson's Methodology of Economics
Introduction
One of the most influential economic methods of the 20th century was that developed by Nobel laureate Milton Friedman. Friedman’s economic methods have been used to inform policy decisions in both the public and private sectors, and have shaped debates in a variety of areas, includ......
Ramsey's law
The Hezzletine-Larmese Principle is one of the most important and influential principles in modern economics. The principle was first defined by economists Philip Heazzletine and paul Larmese in their 1935 paper, “Measuring Technology and Productivity Change.” The principle states that, for a gi......
Keynes' theory of insufficient effective demand
John Maynard Keynes (1883-1946) was a British economist who studied the phenomenon of an inadequate level of effective demand as the source of business cycle. This is known as his effective demand insufficient theory.
In the Great Depression of the early 1930s, unemployment is at its peak and eco......
Cobb-Douglas production function
Cobb-Douglas Production Function
The Cobb-Douglas production function is a widely used mathematical economic model developed by paul H. Douglas and Charles W. Cobb in 1920 to describe the relationships between an organization’s inputs and outputs. It is one of the most widely used and robust eco......
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