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Lister's Theory of Protection Trade
Adam Smith, the undisputed father of modern economics, seemed to favor the idea of free trade and competition between nations in the economy. By contrast, Richard Cobden and John Bright advocated the idea of protectionism, or placing tariffs on imported goods in order to protect domestic producers......
18/07/2023 
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Lister's theory of infant industry protection
Richard Cobden and the Peelites have been recognized as the key architects of free-trade theory, but it was actually Robert Lowe, the Liberal politician who served as Finance Minister under Benjamin Disraeli, who codified the notion of protectionism. Lowes views, known as the infant industry argum......
MAN rule
The Law of diminishing returns states that if one factor of production is increased while other remain constant, marginal returns will eventually diminish. This law is an important economic concept, as it deals with one of the most difficult issues surrounding production: how can firms use the few......
new growth theory
Introduction
The theory of exponential growth is an economic concept which states that an economy can experience a period of sustainable growth if the rate of capital accumulation (i.e. investment) outpaces the rate of population growth. This concept has been popularized by economists in the las......
The Tenant Theory
The concept of Dietary Theory was first introduced by Chinese philosopher Lao Tzu in the fourth century BC. It emphasizes the importance of consuming natural and unprocessed foods in order to maintain physical health. Lao Tzu believed that diet should be tailored to each individuals needs and that......
Barntable Tax Ideas
Adam Smith and Jean Baptiste Say: Tax Reformers of Modern Economics
From Adam Smith to Jean Baptiste Say, tax reform has been a major topic of debate among economists. This paper will discuss the contributions of Adam Smith and Jean Baptiste Say to modern tax policy, their views on taxes, and the......
An Overview of Principal Theory
The Principal Theory
The principal theory is one of the foundational concepts of modern finance. It is based on the concept that the value of a financial instrument is primarily determined by the amount of principal invested into it. This means that when investing in a security, the principal is ......
Ohlin's Interregional Trade Theory
The Theory of Interregional Trade of Waldemar Mueller-Lampel
Waldemar Mueller-Lampel (1879-1983) is a German economist best known for his theory of interregional trade. Mueller-Lampel’s theory argued that the economic gains from international trade are determined by a combination of permanent an......
French Classical Political Economy
内容
The French classical political economy was a school of thought developed during the 18th century in France that attempted to understand economic and social behavior in terms of natural laws. This school drew upon the ideas developed by economists like Adam Smith, Jean-Baptiste Say, David Ricar......
Gradient Asymptotic Growth Theory
Gradient Ascent Growth Theory
The idea of gradient ascent growth theory is rooted in the belief that economic agents, such as firms and households, will continually strive to reach a higher level of economic activity. This may be accomplished through various measures such as investment in product......
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