ecmHmn'PARTIAL-COMPLEMENT

name::
* McsEngl.ecmHmn'PARTIAL-COMPLEMENT,

_PARTIAL_COMPLEMENT:
* system-of-households|consuming#cptEconomy676#
[hmnSngo.2015-08-08]

agreement with another economy

name::
* McsEngl.conceptEconomy516,
* McsEngl.agreement-with-another-economy,
* McsElln.ΣΥΜΦΩΝΙΑ-ΜΕ-ΑΛΛΗ-ΟΙΚΟΝΟΜΙΑ,

warEcn'Method

name::
* McsEngl.warEcn'Method,

Οι μέθοδοι άλλωστε που εφαρμόζονται σε έναν οικονομικό πόλεμο, δεν είναι τόσο διαφορετικοί από το συμβατικό: εξευτελισμός, απορρύθμιση, εισβολή, κατάρρευση, εξαθλίωση των μαζών, υποδούλωση και συνεχής λεηλασία των κατεκτημένων.
[http://www.casss.gr/PressCenter/Articles/2694.aspx]

warEcn.CURRENCY

name::
* McsEngl.warEcn.CURRENCY,
* McsEngl.currency-war@cptEconomy,

_DESCRIPTION:
Currency war, also known as competitive devaluation, is a condition in international affairs where countries compete against each other to achieve a relatively low exchange rate for their own currency. As the price to buy a particular currency falls so too does the real price of exports from the country. Imports become more expensive too, so domestic industry, and thus employment, receives a boost in demand both at home and abroad. However, the price increase in imports can harm citizens' purchasing power. The policy can also trigger retaliatory action by other countries which in turn can lead to a general decline in international trade, harming all countries.
Competitive devaluation has been rare through most of history as countries have generally preferred to maintain a high value for their currency. Countries have allowed market forces to work or have participated in systems of managed exchanges rates. An important episode of currency war occurred in the 1930s. As countries abandoned the Gold Standard during the Great Depression, they used currency devaluations to stimulate their economies. Since this effectively pushes unemployment overseas, trading partners quickly retailed with their own devaluations. The period is considered to have been an adverse situation for all concerned as unpredictable changes in exchange rates reduced overall international trade.
According to Guido Mantega, the Brazilian Minister for Finance, a global currency war broke out in 2010. This view was echoed by numerous other financial journalists and government officials from around the world. Other senior policy makers and journalists have suggested the phrase "currency war" overstates the extent of hostility, though they agree that a risk of further escalation exists.
States engaging in competitive devaluation since 2010 have used a mix of policy tools, including direct government intervention, the imposition of capital controls, and, indirectly, quantitative easing. While many countries have experienced undesirable upward pressure on their exchange rates and taken part in the on-going arguments, the most notable dimension has been the rhetorical conflict between the United States and China over the valuation of the yuan.[2][3] The episode which began in the early 21st century is being pursued by different mechanisms than was the case in the 1930s, and opinions among economists have been divided as to whether it will have a net negative effect on the global economy. By April 2011 journalists had began to report that the currency war had subsided. Guido Mantega however has continued to assert that the conflict is still on-going; in March 2012 he announced additional measures to protect the real against unwanted appreciation. Yet by June, findings had indicated that global currency mis-alignment had fallen, and Mantega was able to begin relaxing his anti-appreciation measures.
[http://en.wikipedia.org/wiki/Currency_war]

{time.2013-01-21}:
=== Weidmann warns of currency war risk
The erosion of central bank independence around the world threatens to unleash a round of competitive exchange rate devaluations, which leading economies have so far avoided during the financial crisis, Jens Weidmann, the president of Germany’s Bundesbank, warned on Monday.
http://link.ft.com/r/2SRI11/3CZXC7/PR3X8R/ORWEKU/CWJ8QG/PJ/h?a1=2013&a2=1&a3=21

warEcn.TRADE

name::
* McsEngl.warEcn.TRADE,

A trade war refers to two or more states raising or creating tariffs or other trade barriers on each other in retaliation for other trade barriers. Increased protection causes both nations' output compositions to move towards their autarky position.
Some economists would agree that certain economic protections are more costly than others, because they may be more likely to trigger a trade war. For example, if a country were to raise tariffs, then a second country in retaliation may similarly raise tariffs. But an increase in, for example, subsidies, may be difficult to retaliate against by a foreign country. Many poor countries do not have the ability to raise subsidies. In addition, poor countries are more vulnerable than rich countries in trade wars; in raising protections against dumping of cheap products, a government risks making the product too expensive for its people to afford.[citation needed]
[http://en.wikipedia.org/wiki/Trade_war]

ecmHmn'PARTIAL-DIVISION.observance

name::
* McsEngl.ecmHmn'PARTIAL-DIVISION.observance,

_PARTIAL_DIVISION:
* observed-part##
* observedNo-part#cptEconomy323.51#
[hmnSngo.2015-08-18]

ecmHmn'PARTIAL-DIVISION.adminestering

name::
* McsEngl.ecmHmn'PARTIAL-DIVISION.adminestering,

_PARTIAL_DIVISION:
* state-system#cptCore94#
* administeringNo-system|reproducing#cptEconomy1#
 * creating-system#cptEconomy#
 * transacting-system#cptEconomy74#
[hmnSngo.2015-08-08]

_PART: ecmHmn'DivisionPartial.SYSTEM:
* system.economy.consuming (households)#cptEconomy23.7#
* system.economy.administrating#cptCore999.6#
* system.economy.producing#cptEconomy7.71#
* system.economy.producing.creating#cptEconomy1#
* system.economy.producing.transacting#cptEconomy74#
[hmnSngo.2012-12-23]

bodyNoEcn'ELEMENT

name::
* McsEngl.bodyNoEcn'ELEMENT,
* McsEngl.relation-element,
* McsElln.ΑΝΤΙΚΕΙΜΕΝΟ-ΣΧΕΣΗΣ,
* McsElln.ΣΤΟΙΧΕΙΟ-ΣΧΕΣΗΣ,

Καθε σχέση είναι σχέση μεταξυ στοιχείων. Το προιον δεν είναι στοχείο της σχέσης.
[hmnSngo.1994-08]

ΑΝΤΙΚΕΙΜΕΝΟ ΣΧΕΣΗΣ είναι καθε ΑΝΤΙΚΕΙΜΕΝΟ μεταξύ του οποίου και άλλων υπάρχει η σχέση.
[hmnSngo.1995-04]

ΚΑΘΕ σχεση, είναι σχεση μεταξύ στοιχείων.

bodyNoEcn'measure#cptCore88#

name::
* McsEngl.bodyNoEcn'measure,

ΣΥΝΟΛΟ ΣΧΕΣΕΩΝ είναι το ΣΥΝΟΛΟ 'σχεσεων'.
[hmnSngo.1995-04]

Ποσοτητα 'σχεσης' είναι πόσες συγκεκριμένες τετοιες σχεσεις γίνονται/υπαρχουν.

Στην αρχή του οικονομικού έτους.

στο τελος του οικονομικου έτους

Πόσες καινούργιες δημιουργήθηκαν

Πόσες έπαψαν να υπαρχουν.

bodyNoEcn'Product

name::
* McsEngl.bodyNoEcn'Product,

Οι σχέσεις διαδικασίας, έχουν κάποιο αποτελεσμα, δημιουργία καινούργιας οντότητας, αυτό το ονομάζω προιον.
[hmnSngo.1994-08]

SPECIFIC

_SPECIFIC: bodyNoEcn.Alphabetically
* economic-doing#cptEconomy323.9#
* economic-relation#cptEconomy323.29#

DEFINITION

_DESCRIPTION:

_DefinitionSpecific:
* economic-process I call any PROCESS (epistem-475) of an economic-structure #cptEconomy207#.
[hmnSngo.2011-04-08]

ΛΕΙΤΟΥΡΓΙΑ ΟΙΚΟΝΟΜΙΑΣ ονομάζω κάθε ΛΕΙΤΟΥΡΓΙΑ της 'οικονομιας' σαν ολότητα.
[hmnSngo.1995-04]

_DESCRIPTION:
2.21 Institutional units fulfil various economic functions; that is, they produce, consume, save, invest, etc. They may engage in various types of production (agriculture, manufacturing, etc.) as entrepreneurs, providers of labour or suppliers of capital. In all aspects of their economic functions and activities, they undertake a great number of elementary economic actions. These actions result in economic flows, which, however they are characterized (wages, taxes, fixed capital formation, etc.),
- create,
- transform,
- exchange,
- transfer or
- extinguish economic value; they involve changes in the volume, composition or value of an institutional unit's assets or liabilities.
[https://synagonism.net/dirMcs/dirStn/dirHitp/HitpStnStd000.last.html#idPara2.21]

dngEcn'PART

_PART:

_PART: Alphabetically:
* accumulating-satisfier
* consuming-satisfier (household doing)
* creating-satisfier#cptEconomy1.1#
* destroing-satisfier
* distributing-satisfier
* interorganization-communication#cptEconomy96#
* transacting-satisfier#cptEconomy74.41#

dngEcn'OTHER-VIEW#cptCore505#

name::
* McsEngl.dngEcn'OTHER-VIEW,

"ΟΙ ΑΝΤΙΚΕΙΜΕΝΙΚΟΙ ΝΟΜΟΙ ΠΟΥ ΚΑΤΕΥΘΥΝΟΥΝ ΤΗΝ ΠΑΡΑΓΩΓΗ, ΤΗΝ ΑΝΤΑΛΛΑΓΗ, ΤΗ ΔΙΑΝΟΜΗ ΚΑΙ ΤΗΝ ΚΑΤΑΝΑΛΩΣΗ ΤΩΝ ΥΛΙΚΩΝ ΑΓΑΘΩΝ ΣΤΑ ΔΙΑΦΟΡΑ ΣΤΑΔΙΑ ΑΝΑΠΤΥΞΗΣ ΤΗΣ ΑΝΘΡΩΠΙΝΗΣ ΚΟΙΝΩΝΙΑΣ."
[ΛΕΞΙΚΟ ΠΟΛΙΤΙΚΗΣ ΟΙΚΟΝΟΜΙΑΣ 1983, 428#cptResource172#]

"Some economists, while recognising the existence of economic laws, interpret them incorrectly, basing them on people's psychological motives, when it is objective economic conditions, i.e. really existing relations of production, that play the determinant role. In Samuelson's textbook such laws are taken to be the law of scarcity, the law of increasing costs, and the law of diminishing returns."
[Smirnov et al, 1984, 33#cptResource289#]

SPECIFIC

name::
* McsEngl.dngEcn.specific,

_SPECIFIC: Alphabeticallly:
* working (producing)#cptEconomy364.18#
* reproducing#cptEconomy1.1#
* transacting#cptEconomy74.41#
* consuming#cptEconomy541.113#
* accumulating#cptEconomy424#
===
* automated-doing##
* accounting#cptCore999.9#
* budget-creation#cptEconomy540.16.1#
* buying#cptEconomy368#
* circulating#cptEconomy74.41#
* death-of-producer##
* donation#cptEconomy357#
* distribution#cptEconomy74.41.1#
* goal-of-economy (desired-process)##
* investment#cptEconomy519#
* administering#cptCore999.4#
* administering-of-economy#cptCore94.1#
* payment
* pricing#cptEconomy541.44.18#
* profession#cptEconomy364.10#
* replacement#cptEconomy321#
* reproduction#cptEconomy1.1#
* selling#cptEconomy395#
* service#cptEconomy541.103#
* trading#cptEconomy3.14#
* transacting#cptEconomy74.41#
* transacting.exchange#cptEconomy3.14#
* valuing#cptEconomy164.1#

dngEcn.ACCOUNTING#cptCore999.9: attPar#

name::
* McsEngl.dngEcn.ACCOUNTING,

dngEcn.AUTOMATED-PRODUCTION

name::
* McsEngl.dngEcn.AUTOMATED-PRODUCTION,
* McsEngl.conceptEconomy591.10,
* McsEngl.conceptEconomy583.10,
* McsEngl.automated-production,
* McsEngl.automated-production-activity@cptEconomy583.10,
* McsElln.ΑΥΤΟΜΑΤΟΠΟΙΗΜΕΝΗ-ΠΑΡΑΓΩΓΗ,

_DEFINITION:
ΑΥΤΟΜΑΤΟΠΟΙΗΜΕΝΗ ΠΑΡΑΓΩΓΗ είναι μέρος του ΤΟΜΕΑ ΠΑΡΑΓΩΓΗΣ στον οποίο η παραγωγή γίνεται αυτόματα με μηχανές.
[hmnSngo.1995-05]

_WHOLE:
production sector#cptEconomy175#

dngEcn.COMMUNICATING.INTERORGANIZATION

name::
* McsEngl.dngEcn.COMMUNICATING.INTERORGANIZATION,
* McsEngl.conceptEconomy323.9.2,
* McsEngl.conceptEconomy96,
* McsEngl.ecmHmn'INTERORGANIZATION-COMMUNICATION,
* McsEngl.interorganization-communication,

_WHOLE:
* sympan'societyHuman'economy#cptEconomy323#

dngEcn.FLOW-IN-VALUE

_CREATED: {2012-12-23} {2011-08-15}

name::
* McsEngl.dngEcn.FLOW-IN-VALUE,
* McsEngl.conceptEconomy323.9.1,
* McsEngl.conceptEconomy24,
* McsEngl.changing-value-process@cptEconomy24, {2011-08-15}
* McsEngl.dngEcn.FLOW,
* McsEngl.doing.VALUE-CHANGING,
* McsEngl.flow-economic@cptSna2008v, {2001-08-15}
* McsEngl.transactions-and-other-flows@cptSna2008v@cptEconomy24, {2011-08-15}
* McsEngl.economic-flow@cptSna2008v,
* McsEngl.sna2008v-economic-flow,
* McsEngl.dingEcn.flow@cptEconomy591.6,
* McsEngl.flow-process@cptEconomy591.6,

_DEFINITION:
flows that reflect changes in economic value.
[https://synagonism.net/dirMcs/dirStn/dirHitp/HitpStnStd000.last.html#idPara3.1]
===
2.8 Adding all the questions together results in a rather complex combination of simple links: “Who does what, with whom, in exchange for what, by what means, for what purpose, with what changes in stocks?” Answering these questions for all economic flows and stocks and operators in a given economy would provide an enormous amount of information describing the complete network of economic interrelations. However, it would require an enormous amount of basic information, which is not always available nor complete in that it may cover only certain aspects of the complex chain of questions. Further, it is necessary to organize the recording of economic flows and stocks in a comprehensible way, as discussed in the next section. ¶
[http://gym-eleous.ioa.sch.gr/textid/SNA2008.html#idP2.8]
===
3.6 Economic flows reflect the creation, transformation, exchange, transfer or extinction of economic value; they involve changes in the volume, composition, or value of an institutional unit's assets and liabilities. Mirroring the diversity of the economy, economic flows have specific natures as wages, taxes, interest, capital flows, etc., that record the ways in which a unit's assets and liabilities are changed. ¶
[http://gym-eleous.ioa.sch.gr/textid/SNA2008.html#idP3.6]
===
These goods and services are used for the three economic activities recognized in the SNA,
- production,
- consumption and
- accumulation.
[https://synagonism.net/dirMcs/dirStn/dirHitp/HitpStnStd000.last.html#idPara3.19]
===
4.17 Institutional units are allocated to sector according to the nature of the economic activity they undertake. The three basic economic activities recorded in the SNA are
- production of goods and services,
- consumption to satisfy human wants or needs and
- accumulation of various forms of capital. Corporations undertake either production or accumulation (or both) but do not undertake (final) consumption. Government undertakes production (but mainly of a different type from corporations), accumulation and final consumption on behalf of the population. All households undertake consumption on their own behalf and may also engage in production and accumulation. NPIs are diverse in nature. Some behave like corporations, some are effectively part of government and some undertake activities similar to government but independently of it. ¶
[https://synagonism.net/dirMcs/dirStn/dirHitp/HitpStnStd000.last.html#idPara4.17]
===
Institutional units fulfil various economic functions; that is, they produce, consume, save, invest, etc.
[https://synagonism.net/dirMcs/dirStn/dirHitp/HitpStnStd000.last.html#idPara2.21]
===
However, stocks result from the accumulation of prior transactions and other flows, and they are modified by future transactions and other flows. Thus stocks and flows are closely related. ¶
[http://gym-eleous.ioa.sch.gr/textid/SNA2008.html#idP2.33]
===
Flows measure changes in economic value over a period of time.
[https://synagonism.net/dirMcs/dirStn/dirHitp/HitpStnStd000.last.html#idPara3.2]
===
3.6 Economic flows reflect the creation, transformation, exchange, transfer or extinction of economic value; they involve changes in the volume, composition, or value of an institutional unit's assets and liabilities. Mirroring the diversity of the economy, economic flows have specific natures as wages, taxes, interest, capital flows, etc., that record the ways in which a unit's assets and liabilities are changed. ¶
[https://synagonism.net/dirMcs/dirStn/dirHitp/HitpStnStd000.last.html#idPara3.6]

DEFINITION

Competition in economics is a term that encompasses the notion of individuals and firms striving for a greater share of a market to sell or buy goods and services. Merriam-Webster defines competition in business as "the effort of two or more parties acting independently to secure the business of a third party by offering the most favorable terms."[1] It was described by Adam Smith in The Wealth of Nations (1776) and later economists as allocating productive resources to their most highly-valued uses.[2] and encouraging efficiency. Smith and other classical economists before Cournot were referring to price and non-price rivalry among producers to sell their goods on best terms by bidding of buyers, not necessarily to a large number of sellers nor to a market in final equilibrium.[3]

Later microeconomic theory distinguished between perfect competition and imperfect competition, concluding that no system of resource allocation is more Pareto efficient than perfect competition. Competition, according to the theory, causes commercial firms to develop new products, services and technologies, which would give consumers greater selection and better products. The greater selection typically causes lower prices for the products, compared to what the price would be if there was no competition (monopoly) or little competition (oligopoly).
[http://en.wikipedia.org/wiki/Competition_(economics)]

ΑΝΤΑΓΩΝΙΣΜΟΣ:
Η ΠΑΛΗ ΑΝΑΜΕΣΑ ΣΤΟΥΣ ΙΔΙΩΤΕΣ ΕΜΠΟΡΕΥΜΑΤΟΠΑΡΑΓΩΓΟΥΣ ΓΙΑ ΣΥΜΦΕΡΟΤΕΡΟΥΣ ΟΡΟΥΣ ΠΑΡΑΓΩΓΗΣ ΚΑΙ ΔΙΑΘΕΣΗΣ ΤΩΝ ΕΜΠΟΡΕΥΜΑΤΩΝ. ΣΤΟΝ ΚΑΠΙΤΑΛΙΣΜΟ Η ΠΑΛΗ ΤΩΝ ΚΑΠΙΤΑΛΙΣΤΩΝ ή ΤΩΝ ΕΝΩΣΕΩΝ ΤΟΥΣ ΓΙΑ ΤΗΝ ΕΞΑΣΦΑΛΙΣΗ ΤΟΥ ΑΝΩΤΑΤΟΥ ΚΕΡΔΟΥΣ...
ΜΕ ΤΗΝ ΕΞΑΛΕΙΨΗ ΤΗΣ ΑΤΟΜΙΚΗΣ ΙΔΙΟΚΤΗΣΙΑΣ ΤΩΝ ΜΕΣΩΝ ΠΑΡΑΓΩΓΗΣ, ΤΟΝ ΑΝΤΑΓΩΝΙΣΜΟ ΑΝΤΙΚΑΘΙΣΤΑ Η ΣΟΣΙΑΛΙΣΤΙΚΗ ΑΜΙΛΛΑ, ΠΟΥ ΕΚΦΡΑΖΕΙ ΣΧΕΣΕΙΣ ΣΥΝΤΡΟΦΙΚΗΣ ΣΥΝΕΡΓΑΣΙΑΣ ΚΑΙ ΑΛΛΗΛΟΒΟΗΘΕΙΑΣ ΟΛΩΝ ΤΩΝ ΕΡΓΑΖΟΜΕΝΩΝ ΣΤΗ ΣΟΣΙΑΛΙΣΤΙΚΗ ΠΑΡΑΓΩΓΗ.
[ΛΕΞΙΚΟ ΠΟΛΙΤΙΚΗΣ ΟΙΚΟΝΟΜΙΑΣ 1983, 36/38#cptResource172#]

competition'GENERIC

_GENERIC:
* doing

competition'WHOLE

_WHOLE:
* sympan'societyHuman'economy#cptEconomy323#

competition'ENVIRONMENT#cptCore756#

name::
* McsEngl.competition'ENVIRONMENT,

competition'OTHER-VIEW#cptCore505#

name::
* McsEngl.competition'OTHER-VIEW,
* McsEngl.views-on-competition,
* McsEngl.views.competition@cptEconomy512,
* McsElln.ΑΠΟΨΕΙΣ/ΘΕΩΡΙΕΣ-ΓΙΑ-ΤΟΝ-ΑΝΤΑΓΩΝΙΣΜΟ,
* McsElln.ΑΠΟΨΕΙΣ-ΓΙΑ-ΑΝΤΑΓΩΝΙΣΜΟ@cptEconomy512,

_GENERIC:
* other-view#cptCore505#

competition'Effect

name::
* McsEngl.competition'Effect,

Ο ΑΝΤΑΓΩΝΙΣΜΟΣ ΕΚΔΗΛΩΝΕΤΑΙ ΣΑΝ ΕΞΩΤΕΡΙΚΗ ΚΑΤΑΝΑΓΚΑΣΤΙΚΗ ΔΥΝΑΜΗ, ΠΟΥ ΥΠΟΧΡΕΩΝΕΙ ΤΟΥΣ ΕΜΠΟΡΕΥΜΑΤΟΠΑΡΑΓΩΓΟΥΣ
 ΝΑ ΥΨΩΝΟΥΝ ΣΤΙΣ ΕΠΙΧΕΙΡΗΣΕΙΣ ΤΟΥΣ ΤΗΝ ΠΑΡΑΓΩΓΙΚΟΤΗΤΑ ΤΗΣ ΕΡΓΑΣΙΑΣ,
 ΝΑ ΔΙΕΥΡΥΝΟΥΝ ΤΗΝ ΠΑΡΑΓΩΓΗ,
 ΝΑ ΑΥΞΑΝΟΥΝ ΤΗ ΣΥΣΣΩΡΕΥΣΗ ΚΛΠ.
[ΛΕΞΙΚΟ ΠΟΛΙΤΙΚΗΣ ΟΙΚΟΝΟΜΙΑΣ 1983, 36#cptResource172#]

competition'Comparative-advantange

name::
* McsEngl.competition'Comparative-advantange,
* McsEngl.comparative-advantage@cptEconomy181i, {2012-05-09}

_DESCRIPTION:
In economics, the theory of comparative advantage refers to the ability of a person or a country to produce a particular good or service at a lower marginal and opportunity cost over another. Even if one country is more efficient in the production of all goods (absolute advantage in all goods) than the other, both countries will still gain by trading with each other, as long as they have different relative efficiencies.[1][2][3]
For example, if, using machinery, a worker in one country can produce both shoes and shirts at 6 per hour, and a worker in a country with less machinery can produce either 2 shoes or 4 shirts in an hour, each country can gain from trade because their internal trade-offs between shoes and shirts are different. The less-efficient country has a comparative advantage in shirts, so it finds it more efficient to produce shirts and trade them to the more-efficient country for shoes. Without trade, its opportunity cost per shoe was 2 shirts; by trading, its cost per shoe can reduce to as low as 1 shirt depending on how much trade occurs (since the more-efficient country has a 1:1 trade-off). The more-efficient country has a comparative advantage in shoes, so it can gain in efficiency by moving some workers from shirt-production to shoe-production and trading some shoes for shirts. Without trade, its cost to make a shirt was 1 shoe; by trading, its cost per shirt can go as low as 1/2 shoe depending on how much trade occurs.
The net benefits to each country are called the gains from trade.
[http://en.wikipedia.org/wiki/Comparative_advantage]
===
Concept in economics that a country should specialize in producing and exporting only those goods and services which it can produce more efficiently (at lower opportunity cost) than other goods and services (which it should import). Comparative advantage results from different endowments of the factors of production (capital, land, labor) entrepreneurial skill, power resources, technology, etc. It therefore follows that free trade is beneficial to all countries, because each can gain if it specializes according to its comparative advantage. Basic concept of international trade theory, it is founded on the work of the UK economist David Ricardo (1772-1823) on comparative cost.
Learn more about this term
Usage Example
China, India and other developing nations have comparative advantage in production of labor-intensive products due to their low-priced labor in relation to the United States.
[term.of.the.day@businessdictionary.com, 2014-12-04]

competition'Competitive-advantange

name::
* McsEngl.competition'Competitive-advantange,
* McsEngl.competitive-advantage@cptEconomy181i, {2012-05-09}

Competitive advantage is defined as the strategic advantage one business entity has over its rival entities within its competitive industry. Achieving competitive advantage strengthens and positions a business better within the business environment.
[http://en.wikipedia.org/wiki/Competitive_advantage]

competition'Global-competitiveness-index

name::
* McsEngl.competition'Global-competitiveness-index,
* McsEngl.conceptEconomy181.4,
* McsEngl.GCI@cptEconomy181.4,
* McsEngl.global-competitiveness-index@cptEconomy181.4,

_DESCRIPTION:
Since 2004, the Global Competitiveness Report ranks countries based on the Global Competitiveness Index, developed by Xavier Sala-i-Martin and Elsa V. Artadi.[2] Before that, the macroeconomic ranks were based on Jeffrey Sachs's Growth Development Index and the microeconomic ranks were based on Michael Porter's Business Competitiveness Index. The Global Competitiveness Index integrates the macroeconomic and the micro/business aspects of competitiveness into a single index.
[http://en.wikipedia.org/wiki/Global_Competitiveness_Report]

competition'Global-Competitiveness-Report

_CREATED: {2012-03-21}

name::
* McsEngl.competition'Global-Competitiveness-Report,
* McsEngl.conceptEconomy181.3,
* McsEngl.GCR@cptEconomy181.3,
* McsEngl.Global-Competitiveness-Report@cptEconomy181.3,

_DESCRIPTION:
The Global Competitiveness Report (GCR) is a yearly report published by the World Economic Forum. The first report was released in 1979. The 2011–2012 report covers 142 major and emerging economies.[1]

Since 2004, the Global Competitiveness Report ranks countries based on the Global Competitiveness Index, developed by Xavier Sala-i-Martin and Elsa V. Artadi.[2] Before that, the macroeconomic ranks were based on Jeffrey Sachs's Growth Development Index and the microeconomic ranks were based on Michael Porter's Business Competitiveness Index. The Global Competitiveness Index integrates the macroeconomic and the micro/business aspects of competitiveness into a single index.

Switzerland leads the ranking as the most competitive economy in the world, as the United States, which ranked first for several years, fell to fifth place due to the consequences of the financial crisis of 2007–2010 and its macroeconomic instability.[3] China continues its relative rise in the rankings reaching 27th.

The report "assesses the ability of countries to provide high levels of prosperity to their citizens. This in turn depends on how productively a country uses available resources. Therefore, the Global Competitiveness Index measures the set of institutions, policies, and factors that set the sustainable current and medium-term levels of economic prosperity."[4][5]
[http://en.wikipedia.org/wiki/Global_Competitiveness_Report]

competition'Law

name::
* McsEngl.competition'Law,

competition'Policy

name::
* McsEngl.competition'Policy,

competition'resource

name::
* McsEngl.competition'resource,

_ADDRESS.WPG:
* https://agenda.weforum.org/2015/07/these-are-the-most-innovative-countries-in-the-world/

SPECIFIC

name::
* McsEngl.competition.specific,

_SPECIFIC: comptetition.Alphabetically:
* global
* imperfect-competition,
* intersector-competition,

competition.Global

name::
* McsEngl.competition.Global,
* McsEngl.conceptEconomy181.1,
* McsEngl.global-competition@cptEconomy181.1,
* McsEngl.competition.global@cptEconomy181.1,
* McsElln.ΑΝΤΑΓΩΝΙΣΜΟΣ-ΔΙΕΘΝΗΣ@cptEconomy181.1,
* McsElln.ΔΙΕΘΝΗΣ-ΑΝΤΑΓΩΝΙΣΜΟΣ,

ΔΙΕΘΝΗΣ ΑΝΤΑΓΩΝΙΣΜΟΣ είναι ο ΑΝΤΑΓΩΝΙΣΜΟΣ μεταξύ επιχειρήσεων διαφορετικών οικονομιών.
[hmnSngo.1995-05]

competition.Greece#cptCore13#

name::
* McsEngl.competition.Greece,

competition.Imperfect

name::
* McsEngl.competition.Imperfect,

In economic theory, imperfect competition is the competitive situation in any market where the conditions necessary for perfect competition are not satisfied. It is a market structure that does not meet the conditions of perfect competition. [1]

Forms of imperfect competition include:
Monopoly, in which there is only one seller of a good.
Oligopoly, in which there are few sellers of a good.
Monopolistic competition, in which there are many sellers producing highly differentiated goods.
Monopsony, in which there is only one buyer of a good.
Oligopsony, in which there are few buyers of a good.
Information asymmetry when one competitor has the advantage of more or better information.

There may also be imperfect competition due to a time lag in a market. An example is the “jobless recovery”. There are many growth opportunities available after a recession, but it takes time for employers to react, leading to high unemployment. High unemployment decreases wages, which makes hiring more attractive, but it takes time for new jobs to be created.
[http://en.wikipedia.org/wiki/Imperfect_competition]

competition.Intersector

name::
* McsEngl.competition.Intersector,

Ο ΑΝΤΑΓΩΝΙΣΜΟΣ ΑΝΑΜΕΣΑ ΣΤΟΥΣ ΚΕΦΑΛΑΙΟΚΡΑΤΕΣ ΤΩΝ ΔΙΑΦΟΡΩΝ ΚΛΑΔΩΝ ΤΗΣ ΟΙΚΟΝΟΜΙΑΣ ΓΙΑ ΤΗΝ ΕΞΑΣΦΑΛΙΣΗ ΥΨΗΛΟΤΕΡΟΥ ΠΟΣΟΣΤΟΥ ΚΕΡΔΟΥΣ ΚΑΙ ΤΗΝ ΠΙΟ ΚΕΡΔΟΦΟΡΑ ΤΟΠΟΘΕΤΗΣΗ ΤΟΥ ΚΕΦΑΛΑΙΟΥ. ΣΤΟΝ ΚΑΠΙΤΑΛΙΣΤΗ ΕΙΝΑΙ ΑΔΙΑΦΟΡΟ ΤΙ ΕΜΠΟΡΕΥΜΑΤΑ ΠΑΡΑΓΕΙ, ΕΠΙΔΙΩΚΕΙ ΜΟΝΟ ΝΑ ΞΕΠΕΡΑΣΕΙ ΤΟΥΣ ΑΝΤΑΓΩΝΙΣΤΕΣ ΤΟΥ ΩΣ ΠΡΟΣ ΤΟ ΕΠΙΠΕΔΟ ΑΠΟΔΟΣΗΣ ΤΩΝ ΕΣΟΔΩΝ ΤΗΣ ΕΠΙΧΕΙΡΗΣΗΣ ΤΟΥ ΚΑΙ ΝΑ ΕΙΣΠΡΑΞΕΙ ΟΣΟ ΤΟ ΔΥΝΑΤΟ ΠΕΡΙΣΣΟΤΕΡΑ ΚΕΡΔΗ.
[ΛΕΞΙΚΟ ΠΟΛΙΤΙΚΗΣ ΟΙΚΟΝΟΜΙΑΣ 1983, 100#cptResource172#]

competition.US

name::
* McsEngl.competition.US,
* McsEngl.us-competitiveness,

_WHOLE:
* US-economy#cptCore227.1#

entEcnHmn'OTHER-VIEW#cptCore505#

name::
* McsEngl.entEcnHmn'OTHER-VIEW,

VIEWS#cptEconomy6: attPar#

entEcnHmn'structure#cptCore515#

name::
* McsEngl.entEcnHmn'structure,

Καθε στοιχείο, μπορεί να θεωρηθει ότι αποτελείται απο άλλα στοιχεία και σχεσεις μεταξυ αυτων. Δομή είναι το όλο πλέγμα αυτων των στοιχείων και σχεσεων.

economic object#cptEconomy207: attPar#
economic relation#cptEconomy323.30#

entEcnHmn'evaluation#cptCore546.107#

name::
* McsEngl.entEcnHmn'evaluation,

entEcnHmn'EVOLUTION#cptCore546.171#

name::
* McsEngl.entEcnHmn'EVOLUTION,

entEcnHmn'Law#cptCore23#

name::
* McsEngl.entEcnHmn'Law,

LAW-on-economic-entity#cptEconomy416###cptEconomy23.37#: attPar#

entEcnHmn'ResourceInfHmnn#cptResource843#

name::
* McsEngl.entEcnHmn'ResourceInfHmnn,

SPECIFIC

_SPECIFIC: entity.Alphabetically
* entity.economic.human.doing#cptEconomy323.9#
* entity.economic.human.structure#cptCore515.2#
* entity.economic.human.product#cptEconomy541.101#
* entity.economic.human.relation#cptEconomy323.29#
* entity.economic.human.satisfier#cptEconomy541#
* entity.economic.human.set
* entity.economic.human.system#cptEconomy567.6#

_SPECIFIC: entity.SPECIFIC_DIVISION.Change:
* doing.economic#cptEconomy323.9#
* economic-structure#cptCore515.2#

_SPECIFIC: entity.SPECIFIC_DIVISION.Law
* legal entity
* illegal entity

_SPECIFIC: entity.SPECIFIC_DIVISION.Knowledge
* observed entity
* nonObserved entity

entEcnHmn.Measure

name::
* McsEngl.entEcnHmn.Measure,
* McsEngl.conceptEconomy323.27.3,
* McsEngl.measure.economic@cptEconomy567.3,
* McsEngl.economic-measure@cptEconomy567.3,

_GENERIC:
* measure

_DefinitionSpecific:
Measure-of-megethos is a) a number and b) the unitOfMeasurement-of-megethos of a QUANTITY () of megethos. The number we find by comparing the unitOfMeasurement with the quantity of the megethos.
[hmnSngo.2011-05-17]
===
Economic-measure is a MEASURE (epistem-979, number + unitOfMeasurement) of an economic-entity-megethos #cptCore-744#.
[hmnSngo.2011-04-04]

_SPECIFIC:
price and volume measures
... value and volume terms
[https://synagonism.net/dirMcs/dirStn/dirHitp/HitpStnStd000.last.html#idPara1.28]

entEcnHmn.Outcome-cptSna2008v

name::
* McsEngl.entEcnHmn.Outcome-cptSna2008v,
* McsEngl.conceptEconomy323.27.9,
* McsEngl.outcome@cptSna2008v,
* McsEngl.sna2008v-outcome,

15.120 It is useful at this stage to define the terms input, activity, output and outcome. Taking health services as an example, input is defined as the labour input of medical and nonmedical staff, the drugs, the electricity and other inputs purchased and the consumption of fixed capital of the equipment and buildings used. These resources are used in the activity of primary care and in hospital activities, such as a general practitioner making an examination, the carrying out of a heart operation and other activities designed to benefit the individual patient. The benefits to the patient constitute the output associated with these input activities. Finally there is the health outcome, which may depend on a number of factors apart from the output of health care, such as whether or not the person gives up smoking. ¶
[http://gym-eleous.ioa.sch.gr/textid/SNA2008.html#idP15.120]

entEcnHmn.Set

_CREATED: {2012-05-30}

name::
* McsEngl.entEcnHmn.Set,
* McsEngl.conceptEconomy323.27.1,
* McsEngl.economic-set@cptEconomy567.1, {2012-05-30}
* McsEngl.entity.economic.set@cptEconomy567.1, {2012-05-30}
* McsEngl.set.economic@cptEconomy567.1, {2012-05-30}

_GENERIC:
* entity.whole.set#cptCore545.4#

_SPECIFIC:
* set.economic.sector#cptEconomy38#

entEcnHmn.Situation

name::
* McsEngl.entEcnHmn.Situation,
* McsEngl.conceptEconomy323.27.7,
* McsEngl.situation@cptEconomy567.7,
* McsEngl.stage,

* McsEngl.conceptEconomy567.7,

_Definition_Specific:
Situation-of-an-entity is its STRUCTURE (207) in a timePoint.
[hmnSngo.2011-05-12]

_GENERIC:
* structure#cptCore515.2#

Dynamic-Stochastic-General-Equilibrium-Modeling

name::
* McsEngl.DSGE@cptEconomy332i, {2012-05-11}

Dynamic stochastic general equilibrium modeling (abbreviated DSGE or sometimes SDGE or DGE) is a branch of applied general equilibrium theory that is influential in contemporary macroeconomics. The DSGE methodology attempts to explain aggregate economic phenomena, such as economic growth, business cycles, and the effects of monetary and fiscal policy, on the basis of macroeconomic models derived from microeconomic principles. One of the main reasons macroeconomists seek to build microfounded models is that, unlike more traditional macroeconometric forecasting models, microfounded models should not, in principle, be vulnerable to the Lucas critique. Furthermore, since the microfoundations are based on the preferences of the decision-makers in the model, DSGE models feature a natural benchmark for evaluating the welfare effects of policy changes (for discussion of both points, see Woodford, 2003, pp. 11–12 and Tovar, 2008, pp. 15–16).
[http://en.wikipedia.org/wiki/Dynamic_stochastic_general_equilibrium]

General-Equilibrium-theory

General equilibrium theory is a branch of theoretical economics. It seeks to explain the behavior of supply, demand, and prices in a whole economy with several or many interacting markets, by seeking to prove that a set of prices exists that will result in an overall equilibrium, hence general equilibrium, in contrast to partial equilibrium, which only analyzes single markets. As with all models, this is an abstraction from a real economy; it is proposed as being a useful model, both by considering equilibrium prices as long-term prices and by considering actual prices as deviations from equilibrium.[citation needed]
General equilibrium theory both studies economies using the model of equilibrium pricing and seeks to determine in which circumstances the assumptions of general equilibrium will hold. The theory dates to the 1870s, particularly the work of French economist Lιon Walras in his pioneering 1874 work Elements of Pure Economics [1].
[http://en.wikipedia.org/wiki/General_equilibrium_theory]

ecmEvn'OTHER-VIEW#cptCore505#

name::
* McsEngl.ecmEvn'OTHER-VIEW,

_SPECIFIC:
* welfare-economics

ecmEvn'Welfare-economics

name::
* McsEngl.ecmEvn'Welfare-economics,
* McsEngl.conceptEconomy682.3,
* McsEngl.views.welfare-economics@cptEconomy682.3,
* McsEngl.welfare-economics@cptEconomy682.3,

_DESCRIPTION:
Welfare economics is a branch of economics that uses microeconomic techniques to evaluate economic well-being, especially relative to competitive general equilibrium within an economy as to economic efficiency and the resulting income distribution[1] associated with it. It analyzes social welfare, however measured, in terms of economic activities of the individuals that comprise the theoretical society considered. As such, individuals, with associated economic activities, are the basic units for aggregating to social welfare, whether of a group, a community, or a society, and there is no "social welfare" apart from the "welfare" associated with its individual units.

Welfare economics typically takes individual preferences as given and stipulates a welfare improvement in Pareto efficiency terms from social state A to social state B if at least one person prefers B and no one else opposes it. There is no requirement of a unique quantitative measure of the welfare improvement implied by this. Another aspect of welfare treats income/goods distribution, including equality, as a further dimension of welfare.[2]

Social welfare refers to the overall welfare of society. With sufficiently strong assumptions, it can be specified as the summation of the welfare of all the individuals in the society. Welfare may be measured either cardinally in terms of "utils" or dollars, or measured ordinally in terms of Pareto efficiency. The cardinal method in "utils" is seldom used in pure theory today because of aggregation problems that make the meaning of the method doubtful, except on widely challenged underlying assumptions. In applied welfare economics, such as in cost-benefit analysis, money-value estimates are often used, particularly where income-distribution effects are factored into the analysis or seem unlikely to undercut the analysis.

Since the early 1980s economists have been interested in a number of new approaches and issues in welfare economics. The capabilities approach to welfare argues that what people are free to do or be should also be included in welfare assessments and the approach has been particularly influential in development policy circles where the emphasis on multi-dimensionality and freedom has shaped the evolution of the Human Development Index.

Economists have also been interested in using life satisfaction to measure what Kahneman and colleagues call experienced utility.

What follows, for the most part, therefore refers to a particular approach to welfare economics, possibly best referred to as 'neo-classical' or 'traditional' welfare economics.

Other classifying terms or problems in welfare economics include externalities, equity, justice, inequality, and altruism.
[http://en.wikipedia.org/wiki/Welfare_economics]

SPECIFIC

_SPECIFIC:
* negative-evaluation/problem/failure
* positive-evaluation/success/efficiency
===
* falling
* rising
===
* fast-changing
* slow-changing
===
* on satisfier evaluation

ecmEvn.problem#cptCore1.8.1#

name::
* McsEngl.ecmEvn.problem,

ecmEvn.efficiency

name::
* McsEngl.ecmEvn.efficiency,
* McsEngl.economic-efficiency@cptEconomy, {2012-11-19}
* McsEngl.efficiency-of-economy,
* McsEngl.efficient-economy,
====== lagoGreek:
* McsElln.αποδοτικη@cptEconomy,
* McsElln.αποτελεσματικη@cptEconomy,

In economics, the term economic efficiency refers to the use of resources so as to maximize the production of goods and services.[1] An economic system is said to be more efficient than another (in relative terms) if it can provide more goods and services for society without using more resources. In absolute terms, a situation can be called economically efficient if:
* No one can be made better off without making someone else worse off (commonly referred to as Pareto efficiency).
* No additional output can be obtained without increasing the amount of inputs.
* Production proceeds at the lowest possible per-unit cost.
These definitions of efficiency are not exactly equivalent, but they are all encompassed by the idea that a system is efficient if nothing more can be achieved given the resources available.
[http://en.wikipedia.org/wiki/Economic_efficiency]

ecmEvn.Genuine Progress Indicator (GPI)

name::
* McsEngl.ecmEvn.Genuine Progress Indicator (GPI),
* McsEngl.conceptEconomy323.22,
* McsEngl.GPI,
* McsEngl.genuine-progress-indicator@cptEconomy323.22, {2012-05-24}
* McsEngl.GPI@cptEconomy323.22, {2012-05-24}

The genuine progress indicator (GPI) is an alternative metric system which is an addition to the national system of accounts that has been suggested to replace, or supplement, gross domestic product (GDP) as a metric of economic growth. The GPI is used in green economics, sustainability and more inclusive types of economics commonly known as "True Cost" economics.[citation needed]
GPI is an attempt to measure whether a country's growth, increased production of goods, and expanding services have actually resulted in the improvement of the welfare (or well-being) of the people in the country. GPI advocates claim that it can more reliably measure economic progress, as it distinguishes between worthwhile growth and uneconomic growth.
The GDP vs the GPI is analogous to the difference between the gross profit of a company and the net profit; the Net Profit is the Gross Profit minus the costs incurred. Accordingly, the GPI will be zero if the financial costs of crime and pollution equal the financial gains in production of goods and services, all other factors being constant.
[http://en.wikipedia.org/wiki/Genuine_Progress_Indicator]

ecmEvn.gross-national-happiness (GNH)

name::
* McsEngl.ecmEvn.gross-national-happiness (GNH),

ecmEvn.Human-Development-Index (HDI)

name::
* McsEngl.ecmEvn.Human-Development-Index (HDI),
* McsEngl.conceptEconomy323.16,
* McsEngl.HDI@cptEconomy323.16,

_DESCRIPTION:
The Human Development Index (HDI) is a composite statistic used to rank countries by level of "human development", taken as a synonym of the older term standards of living or Quality of life, and distinguish "very high human development", "high human development", "medium human development", and "low human development" countries. HDI was devised and launched by Pakistani economist Mahbub ul Haq in 1990. The Human Development Index (HDI) is a comparative measure of life expectancy, literacy, education, and standards of living for countries worldwide. It is a standard means of measuring well-being, especially child welfare. It is used to distinguish whether the country is a developed, a developing or an under-developed country, and also to measure the impact of economic policies on quality of life. There are also HDI for states, cities, villages, etc. by local organizations or companies.
[http://en.wikipedia.org/wiki/Human_Development_Index]
===
Είναι δείκτης που καταρτίστηκε για πρώτη φορά το 1990 από το Πρόγραμμα Ανάπτυξης των Ηνωμένων Εθνών (UNDP). Συνυπολογίζει όχι μόνο το κατά κεφαλήν εθνικό εισόδημα αλλά και τα προσδοκώμενα χρόνια ζωής του πληθυσμού (κάτι που υποδηλώνει την υγεία των κατοίκων), τη μόρφωση και τη βασική τους αγοραστική αξία.
[ΒΗΜΑ, 25 ΑΥΓ. 1996, Α21]

{time.1996}:
57 χώρες κατείχαν Υψηλό ΔΑΑ
69 μέσο και
48 χαμηλο
[ΒΗΜΑ, 25 ΑΥΓ. 1996, Α21]

ecmEvn.Index-of-Sustainable-Economic-Welfare (ISEW)

name::
* McsEngl.ecmEvn.Index-of-Sustainable-Economic-Welfare (ISEW),

ecmEvn.Misery-index

name::
* McsEngl.ecmEvn.Misery-index,
* McsEngl.misery-index@cptEconomy682i,

The misery index is an economic indicator, created by economist Arthur Okun, and found by adding the unemployment rate to the inflation rate. It is assumed that both a higher rate of unemployment and a worsening of inflation create economic and social costs for a country.[1] It is often incorrectly attributed to Harvard economist Robert Barro in the 1970s, due to the Barro Misery Index that additionally includes GDP and the bank rate.[2]

A 2001 paper looking at large-scale surveys in Europe and the United States concluded that the basic misery index underweights the unhappiness caused by joblessness: "the estimates suggest that people would trade off a 1-percentage-point increase in the unemployment rate for a 1.7-percentage-point increase in the inflation rate."[3]
[http://en.wikipedia.org/wiki/Misery_index_(economics)]

ecmEvn.Qualitative-evaluation-of-economy

name::
* McsEngl.ecmEvn.Qualitative-evaluation-of-economy,
* McsEngl.conceptEconomy323.8.1,
* McsEngl.conceptEconomy590,
* McsEngl.economy-quality,
* McsEngl.economy-quality-evaluation,
* McsEngl.economy's'quality'evaluation@cptEconomy590,
* McsEngl.Quality-evaluation-of-economy,
* McsElln.ΚΟΙΝΩΝΙΚΗ-ΕΥΗΜΕΡΙΑ,
* McsElln.ΣΥΝΑΡΤΗΣΗ-ΚΟΙΝΩΝΙΚΗΣ-ΕΥΗΜΕΡΙΑΣ,
* McsElln.ΟΙΚΟΝΟΜΙΑΣ'ΑΞΙΟΛΟΓΗΣΗ'ΠΟΙΟΤΗΤΑΣ@cptEconomy590,
* McsElln.ΠΟΙΟΤΗΤΑ-ΟΙΚΟΝΟΜΙΑΣ,

_GENERIC:
quality evaluation#cptEconomy562#

_WHOLE:
* sympan'societyHuman'economy#cptEconomy323#

ecmEvn.economy-quality-measurement

name::
* McsEngl.ecmEvn.economy-quality-measurement,

Συνηθίσαμε να βγάζουμε τα συμπερασματά μας με βαση τους "ΔΕΙΚΤΕΣ ΣΥΓΚΥΡΙΑΣ" που μετρουν την εξελιξη ορισμενων μεγεθων (ανα μηνα, ανα τριμηνο, το μαξιμουμ ανα χρονο):
- ΑΕΠ
- βιομηχανικη παραγωγη
- καταναλωση
- πληθωρισμος
- ανεργια
- ισοζυγιο πληρωμων
- δημοσιο χρεος.
Παρατηρουμε τις ΜΕΤΑΒΟΛΕΣ των τιμων αυτων ΧΩΡΙΣ να τις προσεγγιζουμε στις απολυτες αξιες, ακόμη λιγότερο στις ιστορικες ή κοινωνικες εξελιξεις και κυριως χωρις να ξερουμε πως ΚΑΤΑΝΕΜΟΝΤΑΙ οι καρποι της αναπτυξης. Ακόμα και όταν ολοκληρα στρώματα του πληθυσμου πληττονται απο μια πολύμορφη ένδεια
- μακροχρονη ανεργια
- αποκλεισμος
- προβλήματα κατοικιας
- υγειας
- εκπαιδευσης
αυτο δεν φαίνεται σε μια οικονομικη αναλυση.
[ΒΗΜΑ, 14 ΑΥΓ. 1994, Δ22 le monde]

ecmEvn.Quality-of-Life

name::
* McsEngl.ecmEvn.Quality-of-Life,
* McsEngl.conceptEconomy682.1,
* McsEngl.quality-of-life,

_DESCRIPTION:
The term quality of life is used to evaluate the general well-being of individuals and societies. The term is used in a wide range of contexts, including the fields of international development, healthcare, and politics. Quality of life should not be confused with the concept of standard of living, which is based primarily on income. Instead, standard indicators of the quality of life include not only wealth and employment, but also the built environment, physical and mental health, education, recreation and leisure time, and social belonging.[1]

According to ecological economist Robert Costanza:

While Quality of Life (QOL) has long been an explicit or implicit policy goal, adequate definition and measurement have been elusive. Diverse "objective" and "subjective" indicators across a range of disciplines and scales, and recent work on subjective well-being (SWB) surveys and the psychology of happiness have spurred renewed interest.[2]
Also frequently related are concepts such as freedom, human rights, and happiness. However, since happiness is subjective and hard to measure, other measures are generally given priority. It has also been shown that happiness, as much as it can be measured, does not necessarily increase correspondingly with the comfort that results from increasing income. As a result, standard of living should not be taken to be a measure of happiness.[1][3]
[http://en.wikipedia.org/wiki/Quality_of_life]

_SPECIFIC:
GDP does not measure factors that affect quality of life, such as the quality of the environment (as distinct from the input value) and security from crime.
[http://en.wikipedia.org/wiki/National_income]

ecmEvn.Standard-of-living

name::
* McsEngl.ecmEvn.Standard-of-living,
* McsEngl.conceptEconomy682.2,
* McsEngl.standard-of-living,
* McsEngl.standards-of-life@cptEconomy682.2,
* McsElln.ΒΙΟΤΙΚΟ-ΕΠΙΠΕΔΟ@cptEconomy682.2,

_DESCRIPTION:
Standard of living is generally measured by standards such as real (i.e. inflation adjusted) income per person and poverty rate. Other measures such as access and quality of health care, income growth inequality and educational standards are also used. Examples are access to certain goods (such as number of refrigerators per 1000 people), or measures of health such as life expectancy. It is the ease by which people living in a time or place are able to satisfy their needs and/or wants.[citation needed]

The idea of a 'standard' may be contrasted with the quality of life, which takes into account not only the material standard of living, but also other more intangible aspects that make up human life, such as leisure, safety, cultural resources, social life, physical health, environmental quality issues etc. More complex means of measuring well-being must be employed to make such judgements, and these are very often political, thus controversial. Even between two nations or societies that have similar material standards of living, quality of life factors may in fact make one of these places more attractive to a given individual or group.

However, there can be problems even with just using numerical averages to compare material standards of living, as opposed to, for instance, a Pareto index (a measure of the breadth of income or wealth distribution). Standards of living are perhaps inherently subjective. As an example, countries with a very small, very rich upper class and a very large, very poor lower class may have a high mean level of income, even though the majority of people have a low "standard of living". This mirrors the problem of poverty measurement, which also tends towards the relative. This illustrates how distribution of income can disguise the actual standard of living.

Likewise Country A, a perfectly socialist country with a planned economy with very low average per capita income would receive a higher score for having lower income inequality than Country B with a higher income inequality, even if the bottom of Country B's population distribution had a higher per capita income than Country A. Real examples of this include former East Germany compared to former West Germany or North Korea compared to South Korea. In each case, the socialist country has a low income discrepancy (and therefore would score high in that regard), but lower per capita incomes than a large majority of their neighboring counterpart. This can be avoided by using the measure of income at various percentiles of the population rather than a highly relative and controversial overall income inequality measure.
[http://en.wikipedia.org/wiki/Standard_of_living]
===
"ΒΙΟΤΙΚΟ ΕΠΙΠΕΔΟ: ΤΟ ΕΠΙΠΕΔΟ ΤΗΣ ΖΩΗΣ, ΤΟ ΣΤΑΝΤΑΡΝΤ ΤΗΣ ΖΩΗΣ. ΟΙΚΟΝΟΜΙΚΗ ΚΑΤΗΓΟΡΙΑ ΠΟΥ ΕΚΦΡΑΖΕΙ ΤΟ ΒΑΘΜΟ ΙΚΑΝΟΠΟΙΗΣΗΣ ΤΩΝ ΥΛΙΚΩΝ ΚΑΙ ΠΟΛΙΤΙΣΜΙΚΩΝ ΑΝΑΓΚΩΝ ΤΩΝ ΑΝΘΡΩΠΩΝ, ΤΗΣ ΕΞΑΣΦΑΛΙΣΗΣ ΤΩΝ ΚΑΤΑΝΑΛΩΤΙΚΩΝ ΑΓΑΘΩΝ ΠΟΥ ΚΑΘΟΡΙΖΟΝΤΑΙ ΑΠΟ ΟΡΙΣΜΕΝΟΥΣ ΠΟΣΟΤΙΚΟΥΣ ΔΕΙΚΤΕΣ:
 ΤΙΣ ΔΙΑΣΤΑΣΕΙΣ ΤΗΣ ΑΜΟΙΒΗΣ ΤΗΣ ΕΡΓΑΣΙΑΣ,
 ΤΟ ΠΡΑΓΜΑΤΙΚΟ ΕΙΣΟΔΗΜΑ,
 ΤΗΝ ΠΟΣΟΤΗΤΑ ΤΩΝ ΚΑΤΑΝΑΛΩΝΟΜΕΝΩΝ ΑΓΑΘΩΝ ΚΑΙ ΤΩΝ ΥΠΗΡΕΣΙΩΝ, ΤΟ ΕΠΙΠΕΔΟ ΚΑΤΑΝΑΛΩΣΗΣ ΕΙΔΩΝ ΔΙΑΤΡΟΦΗΣ ΚΑΙ ΜΗ ΔΙΑΤΡΟΦΗΣ,
 ΤΗ ΔΙΑΡΚΕΙΑ ΤΟΥ ΕΡΓΑΣΙΜΟΥ ΚΑΙ ΤΟΥ ΕΛΕΥΘΕΡΟΥ ΧΡΟΝΟΥ,
 ΤΙΣ ΣΥΝΘΗΚΕΣ ΚΑΤΟΙΚΙΑΣ,
 ΤΟ ΕΠΙΠΕΔΟ ΤΗΣ ΕΚΠΑΙΔΕΥΣΗΣ,
 ΤΗΣ ΥΓΕΙΟΝΟΜΙΚΗΣ ΠΕΡΙΘΑΛΨΗΣ,
 ΤΟΥ ΠΟΛΙΤΙΣΜΟΥ ΚΛΠ.
ΤΟ ΒΙΟΤΙΚΟ ΕΠΙΠΕΔΟ, ΜΑΖΙ ΜΕ ΤΟΝ ΤΡΟΠΟ ΚΑΙ ΤΗΝ ΠΟΙΟΤΗΤΑ ΤΗΣ ΖΩΗΣ, ΚΑΘΟΡΙΖΕΙ ΚΑΙ ΤΟΝ ΤΡΟΠΟ ΤΗΣ ΖΩΗΣ ΤΩΝ ΑΝΘΡΩΠΩΝ".
[ΗΛΙΤΣΕΦ ΚΛΠ, ΦΙΛΟΣΟΦΙΚΟ ΛΕΞΙΚΟ 1985, Α309#cptResource164#]

ecmEvn.sustainable-national-income (SNI)

name::
* McsEngl.ecmEvn.sustainable-national-income (SNI),

ecmEvn.welfare

name::
* McsEngl.ecmEvn.welfare,
* McsEngl.conceptEconomy682.4,
* McsEngl.prosperity,
* McsEngl.welfare,
* McsEngl.well-being,
====== lagoGreek:
* McsElln.ευημερία,

_DESCRIPTION:
such as life expectancy.
===
1.83 An individual’s state of well-being, or welfare, is not determined by economic factors alone. Personal and family circumstances, quality of health, the satisfaction of lack of it derived from employment are just some other factors that affect welfare. It is difficult to imagine an objective way in which factors such as these could be quantified and more difficult to imagine the usefulness of including them in a system designed primarily to facilitate economic analysis ¶
[https://synagonism.net/dirMcs/dirStn/dirHitp/HitpStnStd000.last.html#idPara1.83]

_Measure:
Because of this, other measures of welfare such as the Human Development Index (HDI), Index of Sustainable Economic Welfare (ISEW), Genuine Progress Indicator (GPI), gross national happiness (GNH), and sustainable national income (SNI) are used.
[http://en.wikipedia.org/wiki/National_income]

DEFINITION

ΣΚΟΠΟΣ ΟΙΚΟΝΟΜΙΑΣ είναι ο ΣΚΟΠΟΣ#cptCore837.1# της 'οικονομιας'.
[hmnSngo.1995-04]

Κάθε 'ατέλεια' είναι και στόχος προς καλιτεύρευση.

ΣΤΟΧΟΣ ΟΙΚΟΝΟΜΙΑΣ είναι κάθε 'οικονομική ανάγκη' που δεν έχει ικανοποιηθεί και πρέπει να βρεθεί τρόπος να γίνει.
[hmnSngo.1994-08]

"ΤΟ ΟΙΚΟΝΟΜΙΚΟ ΠΡΟΒΛΗΜΑ ΠΟΥ ΕΧΗ ΝΑ ΛΥΣΗ ΚΑΘΕ ΚΟΙΝΩΝΙΑ, ΑΣΧΕΤΑ ΑΝ ΕΙΝΑΙ ΚΑΠΙΤΑΛΙΣΤΙΚΗ ή ΔΙΕΥΘΥΝΟΜΕΝΗ, ΕΙΝΑΙ ΤΟ ΙΔΙΟ: ΝΑ ΚΑΤΑΝΕΙΜΗ ΤΟΥΣ ΠΕΡΙΟΡΙΣΜΕΝΟΥΣ ΠΑΡΑΓΩΓΙΚΟΥΣ ΠΟΡΟΥΣ ΤΗΣ ΜΕ ΤΟΝ ΠΙΟ ΑΡΙΣΤΟ ΤΡΟΠΟ ΣΤΗΝ ΠΑΡΑΓΩΓΗ ΑΓΑΘΩΝ ΚΑΙ ΥΠΗΡΕΣΙΩΝ, ΠΟΥ ΕΙΝΑΙ ΑΝΑΓΚΑΙΑ ΓΙΑ ΤΗΝ ΙΚΑΝΟΠΟΙΗΣΗ ΤΩΝ ΑΠΕΡΙΟΡΙΣΤΩΝ ΑΝΑΓΚΩΝ ΤΗΣ".
[ΛΙΑΝΟΣ et al, 1979, 301#cptResource292#]

"ΚΑΘΕ ΟΙΚΟΝΟΜΙΑ ΘΑ ΠΡΕΠΕΙ ΝΑ ΛΥΣΗ ΜΕ ΚΑΠΟΙΟ ΤΡΟΠΟ ΤΡΙΑ ΘΕΜΕΛΕΙΩΔΗ ΟΙΚΟΝΟΜΙΚΑ ΠΡΟΒΛΗΜΑΤΑ:
 -ΤΙ ΚΑΙ ΠΟΣΟ ΘΑ ΠΑΡΑΧΘΗ ΑΠΟ ΤΑ ΠΟΛΥΑΡΙΘΜΑ ΑΓΑΘΑ ΚΑΙ ΥΠΗΡΕΣΙΕΣ ΠΟΥ ΕΙΝΑΙ ΔΥΝΑΤΗ Η ΠΑΡΑΓΩΓΗ-ΤΟΥΣ.
 -ΠΩΣ ΘΑ ΧΡΗΣΙΜΟΠΟΙΗΘΟΥΝ ΟΙ ΟΙΚΟΝΟΜΙΚΟΙ ΠΟΡΟΙ ΓΙΑ ΝΑ ΠΑΡΑΧΘΟΥΝ ΤΑ ΑΓΑΘΑ ΑΥΤΑ.
 -ΓΙΑ ΠΟΙΟΝ ΘΑ ΠΑΡΑΧΘΟΥΝ ΤΑ ΑΓΑΘΑ ΔΗΛΑΔΗ ΠΩΣ ΘΑ ΓΙΝΗ Η ΔΙΑΝΟΜΗ ΤΟΥ ΕΙΣΟΔΗΜΑΤΟΣ ΜΕΤΑΞΥ ΤΩΝ ΔΙΑΦΟΡΩΝ ΑΤΟΜΩΝ ΚΑΙ ΚΟΙΝΩΝΙΚΩΝ ΤΑΞΕΩΝ.
[Samuelson, 1973, 65#cptResource297#]

goalEcn'OTHER-VIEW#cptCore505#

name::
* McsEngl.goalEcn'OTHER-VIEW,

goalEcn'Problem#cptEconomy14#

name::
* McsEngl.goalEcn'Problem,

SPECIFIC

name::
* McsEngl.goalEcn.specific,

_SPECIFIC: goalEcn.Alphabetically:
* efficiency#cptEconomy509#
* mission#cptEconomy178.2#
* efficient use of resources, (no waste of resources)
* distribution of wealth,
* employment, full,
* producing > consuming (rate of development)

_SPECIFIC_DIVISION.Importance:
* main-goal
* secondary-goal

_SPECIFIC_DIVISION.Economy_type:
* capitalism-goal
* synagonism-goal

The goal of an economy is:
- satisfiable, WHAT satisfiables to produce,
- nonHousehold, HOW to produce, which organizations will produce,
- household, FOR WHOM will produce it.
[hmnSngo.2011-05-06]

Many different objectives may be seen as desirable for an economy, like efficiency, growth, liberty, and equality.[3]
[http://en.wikipedia.org/wiki/Economic_system]

goalEcn.MAIN

name::
* McsEngl.goalEcn.MAIN,
* McsEngl.conceptEconomy178.2,
* McsEngl.ecnHmn'Mission@cptEconomy178.2,
* McsEngl.mission-of-economy@cptEconomy178.2,
* McsEngl.main-goal-of-economy@cptEconomy178.2,

_DESCRIPTION:
to provide its households with the resources #cptEconomy541# they demand.
[hmnSngo.2011-04-06]
===
Αποστολή της οικονομίας είναι η εκπλήρωση των 'οικονομικών επιθυμιών' των 'καταναλωτών'.
[hmnSngo.1995-04]

_GENERIC:
* MISSION (basic function)#cptCore838#

goalEcn.MILLENNIUM-DEVELOPMENT-GOALS (MDGs)

name::
* McsEngl.goalEcn.MILLENNIUM-DEVELOPMENT-GOALS (MDGs),
* McsEngl.conceptEconomy323.14,
* McsEngl.MDG@cptEconomy323.14,
* McsEngl.millennium-development-goals@cptEconomy323.14,
* McsEngl.un-millennium-development-goals@cptEconomy323.14,

_DESCRIPTION:
The Millennium Development Goals (MDGs) are eight international development goals that all 193 United Nations member states and at least 23 international organizations have agreed to achieve by the year 2015. They include eradicating extreme poverty, reducing child mortality rates, fighting disease epidemics such as AIDS, and developing a global partnership for development.[1]
...
Goal 1: Eradicate extreme poverty and hunger#cptCore1.8.5#
Goal 2: Achieve universal primary education#cptEconomy38.36.13#
Goal 3: Promote gender equality and empower women
Goal 4: Reduce child mortality rates
Goal 5: Improve maternal health
Goal 6: Combat HIV/AIDS, malaria, and other diseases
Goal 7: Ensure environmental sustainability
Goal 8: Develop a global partnership for development
[http://en.wikipedia.org/wiki/Millennium_Development_Goals]

goalEcn.SEOUL-DEVELOPMENT-CONSENSUS

name::
* McsEngl.goalEcn.SEOUL-DEVELOPMENT-CONSENSUS,
* McsEngl.conceptEconomy323.15,
* McsEngl.seoul-development-consensus@cptEconomy323,

The Seoul Development Consensus for Shared Growth is a set of principles and guidelines set up to assist the G20 nations and other global actors in working collaboratively with less developed countries in order to boost their economic growth and to achieve the UN's Millennium Development Goals. It was endorsed by the leaders of G20 nations at the 2010 G-20 Seoul summit , with a multi year action plan drafted for the delivery of tangible results.

In contrast with the older Washington Consensus, the Seoul Consensus allows a larger role for state intervention. Rather than seeking to impose a uniform "top down" solution, it postulates that solutions should be tailored to the requirements of individual developing nations, with the developing countries themselves taking the lead in designing packages of reforms and policies best suited to their needs.

The Washington Consensus as originally defined was a set of ten key principles. The new Consensus is based on six core principles and has nine "key pillars".
[http://en.wikipedia.org/wiki/Seoul_Development_Consensus]

_Pillar:
Key Pillars
The nine key pillars are areas believed to be most in need of attention within developing countries. These are
1) infrastructure,
2) private investment and job creation,
3) human resource development,
4) trade,
5) financial inclusion,
6) resilient growth,
7) food security,
8) domestic resource mobilization
9) knowledge sharing. [1] [2]
[http://en.wikipedia.org/wiki/Seoul_Development_Consensus]

_Principle:
The six core principles of the Seoul consensus are:
* Focus on economic growth The G20 suggest that economic growth is closely linked with low income countries' (LICs) ability to achieve the Millennium Development Goals. They state that measures to promote inclusive, sustainable and resilient growth should take precedence over business as usual.
* Global development partnership. LICs should be treated as equal partners, with national ownership for their own development. Partnerships should be transparent and accountable.
* Global or regional systemic issues. The G20 should prioritise regional or systemic issues where their collective action is best placed to deliver beneficial changes.
* Private sector participation. The G20 recognise the importance of private actors in contributing to growth and suggest that policies should be business friendly.
* Complementarity. The G20 will try to avoid duplicating the efforts of other global actors, focussing their efforts on areas where they have a comparative advantage.
* Outcome orientation. The G20 will focus on tangible practical measures to address significant problems.[1] [2]
[http://en.wikipedia.org/wiki/Seoul_Development_Consensus]

goalEcon.World-economy#cptEconomy323.38#

name::
* McsEngl.goalEcon.World-economy,

* WORLD-Problem#cptCore1.8.20#
WORLD-POVERTY#cptEconomy232###
ENVIRONMENT
ΑΝΕΡΓΙΑ
ΜΕΤΑΝΑΣΤΕΥΣΗ
Η πληθυσμιακή έκρηξη
Η σπάταλη διαχείρηση των φυσικων πόρων
Η πειρηνική απειλή

idxEcn'Calculation

name::
* McsEngl.idxEcn'Calculation,

_DESCRIPTION:
Always there is a method of measourement of an index.
[hknu_2011-03-30]

idxEcn'Provider

name::
* McsEngl.idxEcn'Provider,

SPECIFIC

name::
* McsEngl.idxEcn.specific,

_SPECIFIC: idxEcn.alphabetically:
* BA-X#cptEconomy74.30#
* big-mac-index
* labor-market-index##
* stock-market-index##

idxEcn'Big-Mac-index

name::
* McsEngl.idxEcn'Big-Mac-index,
* McsEngl.Big-Mac-Index@cptEconomy,

The Big Mac Index is published by The Economist as an informal way of measuring the purchasing power parity (PPP) between two currencies and provides a test of the extent to which market exchange rates result in goods costing the same in different countries. It "seeks to make exchange-rate theory a bit more digestible".[1]
The index takes its name from the Big Mac, a hamburger sold at McDonald's restaurants.
[http://en.wikipedia.org/wiki/Big_Mac_Index]

USA#cptCore227#

1800-1929:
In 1800, 90% of America drew its sustenance from agriculture, by 1900, the proportion was 33% and 1929, 20%.
[Wren, 1987, 217#cptResource127#]

VIETNAM#cptCore139#

ΜΕΡΙΔΙΟ ΣΤΗ ΒΙΟΜΗΧΑΝΙΑ: Γεωργια 34,5%.
[ΚΑΘΗΜΕΡΙΝΗ, 19 ΙΟΥΝ. 1994, 54]

DEFINITION

The non-observed economy comprises production activities that are illegal, underground, informal, or otherwise missed by the statistical system. Unless efforts are made to deal with such activities, economic indicators are under estimated. This can be a serious issue, particularly in transition and emerging economies. Given the miscellany of possible approaches, there is a need to identify and promote international best practice. This is the aim of the Handbook for Measurement of the Non-Observed Economy.
[http://www.oecd.org/document/49/0,3746,en_2649_34253_2463473_1_1_1_1,00.html] 2011-08-11

25.29 The extent of economic activity missing from statistical data collections and from administrative sources became known as the “non-observed economy”.
[http://gym-eleous.ioa.sch.gr/textid/SNA2008.html#idP25.29]

The part of the economy difficult to measure has become known as the Non-Observed Economy (NOE)
[http://gym-eleous.ioa.sch.gr/textid/SNA2008.html#idP25.2]

6.39 There is considerable interest in the phenomenon of the non-observed economy. This term is used to describe activities that, for one reason or another, are not captured in regular statistical enquiries. The reason may be that the activity is informal and thus escapes the attention of surveys geared to formal activities; it may be that the producer is anxious to conceal a legal activity, or it may be that the activity is illegal. Chapter 25 discusses measurement of the informal economy within households. ¶
[https://synagonism.net/dirMcs/dirStn/dirHitp/HitpStnStd000.last.html#idPara6.39]

25.47 The term “sector” in the expression “informal sector” does not have the same basis as the usual use of the word sector throughout the SNA. In the SNA, sectors are made up of complete institutional units; in the context of the informal sector only the productive activities are concerned. Thus, for example and importantly, households having no productive activity are simply not considered in the steps to identify those unincorporated enterprises operated by households that are to be included in the informal sector. ¶
[https://synagonism.net/dirMcs/dirStn/dirHitp/HitpStnStd000.last.html#idPara25.47]

_DESCRIPTION:
The "unreported economy" consists of those economic activities that circumvent or evade the institutionally established fiscal rules as codified in the tax code. A summary measure of the unreported economy is the amount of income that should be reported to the tax authority but is not so reported. A complementary measure of the unreported economy is the "tax gap", namely the difference between the amount of tax revenues due the fiscal authority and the amount of tax revenue actually collected. In the U.S. unreported income is estimated to be $2 trillion resulting in a "tax gap" of $450–$500 billion.[2]
The "unrecorded economy" consists of those economic activities that circumvent the institutional rules that define the reporting requirements of government statistical agencies. A summary measure of the unrecorded economy is the amount of unrecorded income, namely the amount of income that should (under existing rules and conventions) be recorded in national accounting systems (e.g. National Income and Product Accounts) but is not recorded. Unrecorded income is a particular problem in transition countries that switched from a socialist accounting system to the western norms of National Income and Product Accounts. New methods have been proposed for estimating the size of the unrecorded (non-observed) economy.[3] But there is still little consensus concerning the size of the unreported economies of transition countries.[4]
[http://en.wikipedia.org/wiki/Black_market]

noe'WHOLE

_WHOLE:
* sympan'societyHuman'economy#cptEconomy323#

noe'Cause

name::
* McsEngl.noe'Cause,

6.40 Certain activities may clearly fall within the production boundary of the SNA and also be quite legal (provided certain standards or regulations are complied with) but deliberately concealed from public authorities for the following kinds of reasons:

a. To avoid the payment of income, value added or other taxes;

b. To avoid the payment of social security contributions;

c. To avoid having to meet certain legal standards such as minimum wages, maximum hours, safety or health standards, etc.;

d. To avoid complying with certain administrative procedures, such as completing statistical questionnaires or other administrative forms. ¶
[https://synagonism.net/dirMcs/dirStn/dirHitp/HitpStnStd000.last.html#idPara6.40]

noe'EVOLUTION#cptCore546.171#

name::
* McsEngl.noe'EVOLUTION,

noe'Illegal-economy

_CREATED: {2011-08-11} {2011-04-06}

name::
* McsEngl.noe'Illegal-economy,
* McsEngl.conceptEconomy56.2,
* McsEngl.conceptEconomy88,
* McsEngl.economy.illegal@cptEconomy88,
* McsEngl.illegal-economy@cptEconomy88,
* McsEngl.sna2008v-underground-economy@cptEconomy88,

_WHOLE:
* productive structure#cptEconomy1.2#

_DESCRIPTION:
6.42 There may be no clear borderline between the non-observed economy and illegal production.
For example, production that does not comply with certain safety, health or other standards could be described as illegal.
Similarly, the evasion of taxes is itself usually a criminal offence.
However, it is not necessary for the purposes of the SNA to try to fix the precise borderline between non-observed and illegal production as both are included within the production boundary in any case. It follows that transactions on unofficial markets that exist in parallel with official markets (for example, for foreign exchange or goods subject to official price controls) must also be included in the accounts, whether or not such markets are actually legal or illegal.

6.43 There are two kinds of illegal production:

a. The production of goods or services whose sale, distribution or possession is forbidden by law;

b. Production activities that are usually legal but become illegal when carried out by unauthorized producers; for example, unlicensed medical practitioners.

6.44 Examples of activities that may be illegal but productive in an economic sense include the manufacture and distribution of narcotics, illegal transportation in the form of smuggling of goods and of people, and services such as prostitution. ¶

[https://synagonism.net/dirMcs/dirStn/dirHitp/HitpStnStd000.last.html#idPara6.42]

noe'Informal-sector

name::
* McsEngl.noe'Informal-sector,
* McsEngl.conceptEconomy56.1,
* McsEngl.informal-sector@cptEconomy56,
* McsEngl.informal-sector-sna2008v@cptEconomy56, {2011-08-11}

25.3 The second alternative recognizes the analytical importance, especially in developing countries, of being able to measure that part of the economy that reflects the efforts of people without formal jobs to engage in some form of monetary economic activity. This part of the economy has become known as the informal sector. It is by estimating the size of the informal sector that it becomes possible to assess how far the benefits of development reach, for example, people living on the street or in shanty towns. Those supporting the second approach do not deny the importance of the comprehensive measure of the economy but for them this is not sufficient. Despite the difficulty of doing so, attempts must be made to identify and measure an informal sector.
25.4 There is a large overlap between both concerns. However, while the NOE and the informal sector overlap, neither is a complete subset of the other.
[https://synagonism.net/dirMcs/dirStn/dirHitp/HitpStnStd000.last.html#idPara25.3]

_Measuring:
25.6 Within the informal sector, some information may be captured statistically. Consider a household that lets rooms to visitors for one or several nights. The activity cannot be treated as a quasi-corporation because it is impossible to make a clear separation of costs from regular household costs and to partition that fraction of the house treated as an asset associated with the letting of rooms from its main function as a family home. However, the value of the letting activity may be captured in a survey directed at tourism activities, for example. ¶
[https://synagonism.net/dirMcs/dirStn/dirHitp/HitpStnStd000.last.html#idPara25.6]

noe'ResourceInfHmnn#cptResource843#

name::
* McsEngl.noe'ResourceInfHmnn,

_ADDRESS.WPG:
* https://www.weforum.org/agenda/2017/08/this-country-s-shadow-economy-is-worth-one-fifth-of-its-gdp/,
* Measuring the Non-Observed Economy, A Handbook, © OECD, 2002.
[http://www.oecd.org/dataoecd/9/20/1963116.pdf]

SPECIFIC

noe.socGREECE

name::
* McsEngl.noe.socGREECE,

{time.2012}:
Στην πρώτη οκτάδα της παραοικονομίας ανάμεσα στους «27»
Η ΝΑΥΤΕΜΠΟΡΙΚΗ Δευτέρα, 7 Ιανουαρίου 2013
Υψηλότερα ποσοστά παραοικονομίας, ως ποσοστό του ΑΕΠ, καταγράφονται στη γειτονική Βουλγαρία με 31,9% (το ψηλότερο εντός της Ε.Ε.) την Εσθονία με 29,3% τη Ρουμανία με 29,1% τη Λετονία με 28,5% τη Λιθουανία με 26,1%, την Κύπρο με 25,6% και τη Μάλτα με 25,3%, ενώ στο μέσο όρο της Ευρωζώνης είναι 15% και στην Ευρώπη των 27 στο 14,9%.

noe.socWorld

name::
* McsEngl.noe.socWorld,

Στην παραοικονομία 1,8 δισ. άνθρωποι
ΑΘΗΝΑ 23/04/2014
Σχεδόν τα 2/3 (περίπου 1,8 δισεκατομμύρια άνθρωποι) από τον παγκόσμιο εργασιακό πληθυσμό των περίπου 3 δισεκατομμυρίων ανθρώπων εργάζονται στην παραοικονομία, όπως προκύπτει από την έκθεση της flexibility@work 2014, η οποία περιλαμβάνει μία νέα μελέτη σχετικά με την παραοικονομία από το Πανεπιστήμιο του Sheffield και την Regioplan Policy Research και την παρουσιάζει η Randstad - κορυφαία εταιρεία στην παροχή υπηρεσιών ανθρώπινου δυναμικού στην Ελλάδα.

Η έκθεση αποκαλύπτει το σημαντικό ρόλο που μπορούν διαδραματίσουν οι ορθά πλαισιωμένες νομοθετικές ρυθμίσεις για τις ευέλικτες μορφές απασχόλησης, σε ό,τι αφορά την καταπολέμηση της παραοικονομίας.

Η έκθεση flexibility@work δείχνει ότι στις προηγμένες οικονομίες το μέγεθος της παραοικονομίας εμφανίζει αρκετές διαφοροποιήσεις – είναι λιγότερο από 10% σε χώρες, όπως οι ΗΠΑ, το Ηνωμένο Βασίλειο, η Ιαπωνία και η Ολλανδία, ενώ είναι έως και πάνω από 25% σε ορισμένες περιοχές της Νότιας και της Ανατολικής Ευρώπης.

Οι χώρες με τη μικρότερη παραοικονομία είναι, σύμφωνα με την έρευνα, εκείνες στις οποίες οι εταιρείες μπορούν με μεγαλύτερη ευκολία να καταφύγουν σε υπηρεσίες προσωρινής απασχόλησης, προκειμένου να ανταποκριθούν στις εργασιακές τους ανάγκες.

Την ίδια στιγμή, οι χώρες αυτές παρέχουν ένα επιπλέον δίκτυο κοινωνικής ασφάλειας, με τη μορφή πολιτικής για την αγορά εργασίας, που προστατεύει και στηρίζει τις ευάλωτες ομάδες εργαζομένων.

Η έρευνα αποκαλύπτει ότι, δημιουργώντας το κατάλληλο πλαίσιο, μέσα στο οποίο οι εταιρείες προσωρινής απασχόλησης διαδραματίζουν έναν σημαντικό ρόλο, οι οικονομίες αυτές που είναι αρκετά επιτυχημένες, μειώνουν την προσφορά και τη ζήτηση της αδήλωτης εργασίας και παρέχουν τόσο στους εργαζόμενους όσο και στους εργοδότες καλύτερες εναλλακτικές λύσεις.
[http://www.nooz.gr/economy/ta-23-tou-pagkosmiou-ergasiakoi-pli8usmoi-ergazontai-stin-paraoikonomia]

ecmHmn'OrgGovernment#cptCore434: attPar#

name::
* McsEngl.ecmHmn'OrgGovernment,

ecmHmn'OrgHousehold#cptEconomy23: attPar#

name::
* McsEngl.ecmHmn'OrgHousehold,

ecmHmn'OrgCompany#cptEconomy7: attPar#

name::
* McsEngl.ecmHmn'OrgCompany,

productivity'evaluation#cptCore546.107#

name::
* McsEngl.productivity'evaluation,

Το ΕΛΚΕΠΑ πρότεινε ενα μοντέλο ΜΕΤΡΗΣΗΣ της παραγωγικότητας στη δημόσια διοίκηση, στο πλαίσιο του προγράμματος Κλεισθένης.
[ΚΑΘΗΜΕΡΙΝΗ, 22 ΙΑΝ. 1995, 46]

productivity'ResourceInfHmnn#cptResource843#

name::
* McsEngl.productivity'ResourceInfHmnn,

Measuring Productivity
OECD Manual
MEASUREMENT OF AGGREGATE AND INDUSTRY-LEVEL
PRODUCTIVITY GROWTH
© OECD 2001
* http://www.oecd.org/dataoecd/59/29/2352458.pdf
Measures of productivity growth constitute core indicators for the analysis of economic growth. However, there are many different approaches to productivity measurement and their calculation and interpretation requires careful consideration, in particular when undertaking international comparisons. The OECD Productivity Manual is the first comprehensive guide to the various productivity measures aimed at statisticians, researchers and analysts involved in constructing industry-level productivity indicators.

SPECIFIC

name::
* McsEngl.productivity.SPECIFIC,

_SPECIFIC: productivity.Alphabetically:
* productivity.capital
* productivity.product#cptEconomy541.101.4#
* productivity.worker#cptEconomy255.1#
* productivity.working#cptEconomy255.3#
* productivity.producer#cptEconomy7.34#
* productivity.economy#cptEconomy255.2#
* productivity.world

productivity.DAY

name::
* McsEngl.productivity.DAY,

What is the Most Productive Day in the Work Week?
Tuesdays are the most productive day of the work week.

Tuesday is the most productive day in the work week, according to a 2013
survey of managers. Tuesday is thought to be most productive because
workers are able to begin new work after using Monday to catch up on any
work that was not completed the previous week. Thursdays and Fridays are
considered equally as the least productive days in the work week, which may
be due to employees losing motivation toward the end of the week, as well
as overestimating how much work they can do. The study also found that the
week after a vacation is considered the most productive overall time period
for employees.
Read More: http://www.wisegeek.com/what-is-the-most-productive-day-in-the-work-week.htm?m, {2014-07-17}

productivity.ECONOMY

name::
* McsEngl.productivity.ECONOMY,
* McsEngl.conceptEconomy255.2,

ΟΙΚΟΝΟΜΙΑΣ ΠΑΡΑΓΩΓΙΚΟΤΗΤΑ ΕΜΠΟΡΕΥΜΑΤΟΣ ονομάζω το μέσο όρο την παραγωγικοτητας-εμπορεύματος των οργανισμων της οικονομιας.
[hmnSngo.1995-04]

Από την πλευρά της προσφοράς, η ανάπτυξη είναι το αποτέλεσμα της αύξησης του χρόνου εργασίας ή/και της υψηλότερης παραγωγικότητας – η οποία όμως διαφέρει από χώρα σε χώρα. Για παράδειγμα, η αύξηση της παραγωγικότητας σε μία βιομηχανική χώρα, όπως η Γερμανία, είναι σχετικά εύκολη – αφού απαιτούνται απλά νέες επενδύσεις σε σύγχρονα μηχανήματα.
Αντίθετα, η αύξηση της παραγωγικότητας σε χώρες όπως η Ελλάδα, η οποία στηρίζεται στις υπηρεσίες (τουρισμός κλπ.), είναι κατά πολύ πιο δύσκολη – αφού οι επενδύσεις δεν «αριστοποιούν» την ανθρώπινη εργασία. Ακριβώς για το λογο αυτό απαιτείται σήμερα μία συνεχής μείωση των αμοιβών των εργαζομένων (από το ΔΝΤ), επειδή στη χώρα μας οι μισθοί συμμετέχουν πολύ περισσότερο στο τελικό προϊόν (υπηρεσίες), από ότι στα βιομηχανικά κράτη.
[http://www.casss.gr/PressCenter/Articles/2556.aspx]

productivity.WORKER

name::
* McsEngl.productivity.WORKER,
* McsEngl.conceptEconomy255.1,
* McsEngl.conceptEconomy135,
* McsEngl.performance-evaluation,
* McsEngl.worker-productivity@cptEconomy135,
* McsEngl.worker/employee/worker-evaluation,
* McsEngl.worker-performance,
* McsEngl.worker-productivity,
* McsElln.ΑΞΙΟΛΟΓΗΣΗ-ΑΠΑΣΧΟΛΟΥΜΕΝΟΥ,
* McsElln.ΠΑΡΑΓΩΓΙΚΟΤΗΤΑ-ΕΡΓΑΖΟΜΕΝΟΥ,

_DEFINITION:
satisfier per worker.
[hmnSngo.2012-05-27]
===
ΠΑΡΑΓΩΓΙΚΟΤΗΤΑ ΕΡΓΑΖΟΜΕΝΟΥ ΕΠΙΧΕΙΡΙΣΗΣ ονομάζω τα αγαθα που παραγει σε σχέση με την ανταμοιβή του ΣΕ δοσμένο χρονικό διάστημα.
[ΝΙΚΟΣ, ΙΟΥΛ. 1994]

productivity.WORKING

name::
* McsEngl.productivity.WORKING,
* McsEngl.conceptEconomy255.3,
* McsEngl.conceptEconomy548,
* McsEngl.productiveness-of-labour@marx,
* McsEngl.working-productivity@cptEconomy255.3,
====== lagoGreek:
* McsElln.ΠΑΡΑΓΩΓΙΚΗ-ΔΥΝΑΜΗ-ΤΗΣ-ΕΡΓΑΣΙΑΣ,
* McsElln.ΠΑΡΑΓΩΓΙΚΟΤΗΤΑ-ΤΗΣ-ΕΡΓΑΣΙΑΣ,

SPECIFIC

name::
* McsEngl.relationEcn.specific,

_SPECIFIC: relationEcn.Alphabetically:
* citizenship
* first-level-relation#cptEconomy184.1#
* legal-relation
* liability#cptEconomy381.6#
* membership
* ownership-relation#cptEconomy541.12#
* ownership-economic-relation#cptEconomy541.21#
* part-relation#cptEconomy184.2#

relationEcn.First-level

name::
* McsEngl.relationEcn.First-level,
* McsEngl.conceptEconomy184.1,
* McsEngl.economy'relation@cptEconomy184.1,
* McsEngl.first-level-relation-of-economy@cptEconomy184.1,
* McsEngl.economy's--first-relation@cptEconomy184.1, {2011-04-10} (non economic-relation)
* McsEngl.productive-relation@cptEconomy184.1,

_DefinitionPartial:
An ECONOMY is comprised of productive-structures (411) and PRODUCTIVE-RELATIONS.
[hmnSngo.2011-03-31]

_DEFINITION:
* citizenship
* membership
* ownership#cptEconomy541.12#

relationEcn.PART

_CREATED: {2011-07-05}

name::
* McsEngl.relationEcn.PART,
* McsEngl.conceptEconomy184.2,
* McsEngl.economic-relationPart@cptEconomy184.2,
* McsEngl.part-economic-relation@cptEconomy184.2,

_SPECIFIC:
* ownership-relation#cptEconomy541.12#
* ownership-economic-relation#cptEconomy541.21#

RePEc

name::
* McsEngl.Re.P.Ec@cptEconomy,
* McsEngl.RePEc@cptEconomy,

_DESCRIPTION:
RePEc (Research Papers in Economics) is a collaborative effort of hundreds of volunteers in 79 countries to enhance the dissemination of research in Economics and related sciences. The heart of the project is a decentralized bibliographic database of working papers, journal articles, books, books chapters and software components, all maintained by volunteers. The collected data is then used in various services as described below.
So far, over 1500 archives from 79 countries have contributed about 1.4 million research pieces from 1,700 journals and 3,700 working paper series. Over 35,000 authors have registered and 70,000 email subscriptions are served every week. See below on how you can be part of this initiative.
[http://repec.org//] 2013-10-25
===
RePEc (Research Papers in Economics) is a collaborative effort of hundreds of volunteers in 75 countries to enhance the dissemination of research in Economics and related sciences. The heart of the project is a decentralized bibliographic database of working papers, journal articles, books, books chapters and software components, all maintained by volunteers. The collected data is then used in various services as described below.
So far, over 1400 archives from 75 countries have contributed about 1.2 million research pieces from 1,500 journals and 3,300 working paper series. Over 30,000 authors have registered and 70,000 email subscriptions are served every week. See below on how you can be part of this initiative.
[http://repec.org/]

NAME

name::
* McsEngl.ecmHmn'science,
* McsEngl.conceptEconomy581,
* McsEngl.conceptEconomy323.32,
* McsEngl.conceptEconomy6,

* McsEngl.economics,
* McsEngl.economic-science@cptEconomy581, {2011-07-24}
* McsEngl.economic-thought@cptEconomy581,
* McsEngl.economic-theory@cptEconomy581,
* McsEngl.economics@cptEconomy581,
* McsEngl.economology@cptEconomy581, {2011-04-06}
* McsEngl.economy-views,
* McsEngl.schools-of-economic-thought@cptEconomy581,
* McsEngl.scienceEconomy@cptEconomy581, {2011-07-24}
* McsEngl.science.ECONOMICS,
* McsEngl.views.economy@cptEconomy581,
* McsEngl.viewEconomy@cptEconomy581,
* McsEngl.view.economy@cptEconomy581,
* McsEngl.views-on-economy@cptEconomy581,
* McsEngl.sciEcn@cptEconomy581, {2012-05-01}
* McsEngl.ecns@cptEconomy581, {2012-04-14}
=== _OLD:
* McsEngl.views.entity@old@cptEconomy6,
* McsEngl.views.economic-entity@old@cptEconomy6,
* McsEngl.views-on-economic-entity@old,
* McsEngl.economic-entity-theory@old,
* McsEngl.views-on-economic-entity@old@cptEconomy6,
====== lagoGreek:
* McsElln.ΑΠΟΨΕΙΣ-ΓΙΑ-ΤΗΝ-ΟΙΚΟΝΟΜΙΑ,
* McsElln.ΑΠΟΨΕΙΣ-ΓΙΑ-ΟΙΚΟΝΟΜΙΑ@cptEconomy581,
* McsElln.ΘΕΩΡΙΑ-ΓΙΑ-ΤΗΝ-ΟΙΚΟΝΟΜΙΑ,
* McsElln.ΑΠΟΨΕΙΣ'ΓΙΑ'ΟΙΚΟΝΟΜΙΚΗ'ΟΝΤΟΤΗΤΑ@cptEconomy6,
* McsElln.ΘΕΩΡΙΕΣ-ΟΙΚΟΝΟΜΙΚΗΣ-ΟΝΤΟΤΗΤΑΣ,

Political economy originally was the term for studying production, buying, and selling, and their relations with law, custom, and government, as well as with the distribution of national income and wealth, including through the budget process. Political economy originated in moral philosophy. It developed in the 18th century as the study of the economies of states, polities, hence political economy.
In the late nineteenth century, the term 'economics' came to replace 'political economy', coinciding with publication of an influential textbook by Alfred Marshall in 1890.[1] Earlier, William Stanley Jevons, a proponent of mathematical methods applied to the subject, advocated 'economics' for brevity and with the hope of the term becoming "the recognised name of a science."[2][3]

DEFINITION

ΚΑΘΕ θεωρία με αναφερόμενο οικονομια.

_DefinitionSpecific:
Economics is a science #cptCore406# on economy (232).
Then its referent includes ALL "economic theories" developed.
[hmnSngo.2011-05-05]

Economics is a social science that studies the management of goods and services, including the production and consumption and the factors affecting them. ...
Economics serves to explain the factors involved in scarcity or surplus of goods and services that affects and can be applied to almost every sphere in society, business in general, and also governments.
[http://www.diffen.com/difference/Economics_vs_Finance]

_DESCRIPTION:
Economics is the social science that analyzes the
- production,
- distribution, and
- consumption of goods and services.
The term economics comes from the Ancient Greek ??????µ?a (oikonomia, "management of a household, administration") from ????? (oikos, "house") + ??µ?? (nomos, "custom" or "law"), hence "rules of the house(hold)".[1] Current economic models emerged from the broader field of political economy in the late 19th century. A primary stimulus for the development of modern economics was the desire to use an empirical approach more akin to the physical sciences.
[http://en.wikipedia.org/wiki/Economic_theory]
===
"economics" is a generic-concept which means "view on economy". Then here I will store ALL these "specific" views and I classify all them. Then this concept is the "science" of economy.
[hmnSngo.2011-03-29]

ΑΠΟΨΕΙΣ ΓΙΑ ΤΗΝ ΟΙΚΟΝΟΜΙΑ είναι ΑΠΟΨΕΙΣ#cptCore505.1# για την 'οικονομια'.
[hmnSngo.1995-05]

Economics is the social science that analyzes the production, distribution, and consumption of goods and services. The term economics comes from the Ancient Greek ??????µ?a (oikonomia, "management of a household, administration") from ????? (oikos, "house") + ??µ?? (nomos, "custom" or "law"), hence "rules of the house(hold)".[1] Political economy was the earlier name for the subject, but economists in the late 19th century suggested 'economics' as a shorter term for 'economic science' that also avoided a narrow political-interest connotation and as similar in form to 'mathematics', 'ethics', and so forth.[2]

A focus of the subject is how economic agents behave or interact and how economies work. Consistent with this, a primary textbook distinction is between microeconomics and macroeconomics. Microeconomics examines the behavior of basic elements in the economy, including individual agents (such as households and firms or as buyers and sellers) and markets, and their interactions. Macroeconomics analyzes the entire economy and issues affecting it, including unemployment, inflation, economic growth, and monetary and fiscal policy.

Other broad distinctions include those between positive economics (describing "what is") and normative economics (advocating "what ought to be"); between economic theory and applied economics; between rational and behavioral economics; and between mainstream economics (more "orthodox" and dealing with the "rationality-individualism-equilibrium nexus") and heterodox economics (more "radical" and dealing with the "institutions-history-social structure nexus").[3][4]

Economic analysis may be applied throughout society, as in business, finance, health care, and government, but also to such diverse subjects as crime,[5] education,[6] the family, law, politics, religion,[7] social institutions, war,[8] and science.[9] At the turn of the 21st century, the expanding domain of economics in the social sciences has been described as economic imperialism.[10] An increasing number of economists have called for increased emphasis on environmental sustainability; this area of research is known as Ecological economics.[11]
[http://en.wikipedia.org/wiki/Economics] {2012-11-14}

ΘΕΩΡΩΝΤΑΣ την ΟΙΚΟΝΟΜΙΚΗ ΟΝΤΟΤΗΤΑ μέρος της οικονομίας, σαν ΠΟΛΙΤΙΚΗ ΟΙΚΟΝΟΜΙΑ θεωρώ την ΟΙΚΟΝΟΜΙΑ.
[hmnSngo.1995-05]

ΑΠΟΨΕΙΣ ΓΙΑ ΤΗΝ ΟΙΚΟΝΟΜΙΚΗ ΟΝΤΟΤΗΤΑ ονομάζω ΑΠΟΨΕΙΣ#cptCore505.1# σχετικές με κάθε 'οικονομικη οντοτητα'.
[hmnSngo.1995-04]

ΟΙΚΟΝΟΜΙΚΗ ΕΠΙΣΤΗΜΗ είναι το 'σύνολο' των θεωριών με αναφερόμενο την 'οικονομια' κοινωνικού σχηματισμού.
[ΝΙΚΟΣ, ΙΟΥΛ. 1994]

ΣΤΗΝ ΟΙΚΟΝΟΜΙΚΗ ΕΠΙΣΤΗΜΗ φυσικά ανήκει και η 'δομημένη οικονομική θεωρία' που αναπτύσω εδώ.
[ΝΙΚΟΣ, ΙΟΥΛ. 1994]

"ΣΗΜΕΡΑ ΟΙ ΟΙΚΟΝΟΜΟΛΟΓΟΙ ΣΥΜΦΩΝΟΥΝ ΣΕ ΕΝΑ ΓΕΝΙΚΟ ΟΡΙΣΜΟ ΤΗΣ ΟΙΚΟΝΟΜΙΚΗΣ ΕΠΙΣΤΗΜΗΣ ΠΟΥ ΕΧΕΙ ΠΕΡΙΠΟΥ ΩΣ ΕΞΗΣ: ΟΙΚΟΝΟΜΙΚΗ ΕΠΙΣΤΗΜΗ ΕΙΝΑΙ Η ΜΕΛΕΤΗ ΤΩΝ ΤΡΟΠΩΝ ΠΟΥ ΤΕΛΙΚΩΣ ΕΠΙΛΕΓΟΥΝ -ΧΡΗΣΙΜΟΠΟΙΩΝΤΑΣ ή ΟΧΙ ΧΡΗΜΑ- ΟΙ ΑΝΘΡΩΠΟΙ ΚΑΙ ΟΙ ΚΟΙΝΩΝΙΕΣ ΓΙΑ ΝΑ ΑΠΑΣΧΟΛΗΣΟΥΝ ΤΑ ΠΑΡΑΓΩΓΙΚΑ ΜΕΣΑ ΠΟΥ ΕΧΟΥΝ ΠΟΛΛΕΣ ΕΝΑΛΛΑΚΤΙΚΕΣ ΧΡΗΣΕΙΣ, ΠΡΟΣ ΠΑΡΑΓΩΓΗ ΔΙΑΦΟΡΩΝ ΑΤΟΜΩΝ ΚΑΙ ΚΟΙΝΩΝΙΚΩΝ ΟΜΑΔΩΝ ΓΙΑ ΝΑ ΤΑ ΚΑΤΑΝΑΛΩΣΟΥΝ ΣΗΜΕΡΑ ή ΣΤΟ ΜΕΛΛΟΝ. ΑΝΑΛΥΕΙ, ΕΞΑΛΛΟΥ, ΤΟ ΚΟΣΤΟΣ ΚΑΙ ΤΗΝ ΩΦΕΛΕΙΑ ΠΟΥ ΠΡΟΚΥΠΤΕΙ ΑΠΟ ΤΗ ΒΕΛΤΙΩΣΗ ΤΟΥ ΤΡΟΠΟΥ ΚΑΤΑΝΟΜΗΣ ΤΩΝ ΠΑΡΑΓΩΓΙΚΩΝ ΜΕΣΩΝ".
[Samuelson, 1973, 7#cptResource297#]

"Political economy arose as the economic doctrine of a new class, the capitalist class"
[Smirnov et al, 1984, 25#cptResource289#]

"political economy elucidates[διευκρινιζει] objective laws governing the production, exchange, distribution, and consumption of material wealth".
[Smirnov et al, 1984, 28#cptResource289#]

"A definition of political economy as stundy of the satisfaction of `human wants' is also common among Western economists"
[Smirnov et al, 1984, 27#cptResource289#]

"Definitions of political economy as study of the national economy, and of business activity in general, are often men in Western economic literature along with its definition as study of wealth"
[Smirnov et al, 1984, 26#cptResource289#]

"The `law of scarcity' is employed to define the substance of economic systems. As Kohler puts it, an economic system is `the institutional mechanism through which people in a society cooperate with each other in allocating scare resources and apportioning scare goods among themselves'...these definitions indicate that Western economists are endeavouring to lead economic science away from study of social and production relations, and consequently away from study of the decaying, dying relations of production of modern capitalism".
[Smirnov et al, 1984, 29#cptResource289#]

"Lipsey and Steiner suggest that `economics today is regarded much more broadly than it was even half a century ago'. While Bradley says economics `deals with nearly every aspect of our individual daily lives -from buying a car to taking a vacation, to getting married and having children'".
[Smirnov et al, 1984, 30#cptResource289#]

"Western economists confuse the problems of political economy with those of the economics of sectors (e.g. industrial economics, agricultural economics, transport economics, etc.). But while political economy elucidates the laws governing the production, exchange, distribution, and consumption of material wealth in human society, sectoral economics studies their manifestation in given, concrete field, and so has its own specific tasks, and means and methods of dealing with them"
[Smirnov et al, 1984, 31#cptResource289#]

Adam smith & Ricardo:
"Adam Smith defined it as the science of wealth in his "Inquiry into the Nature and Causes of the Wealth of Nations" (1776). This understanding of political economy was also inherent to Ricardo".
[Smirnov et al, 1984, 25#cptResource289#]

marxists:
"But political economy does not deal with `production' but `with the social relations of men in production, with the social system of production'. [Lenin] It clarifies the `conditions and forms' in which the production, exchange, and distribution of products take place [Engels]".
[Smirnov et al, 1984, 32#cptResource289#]

physiocrats.:
"The physiocrat school considered the creation of surplus value (net product) in agriculture to be the main subject of political economy".
[Smirnov et al, 1984, 25#cptResource289#]

petty.bourgeois.:
"The petty-bourgeois critics of capitalism, like Sismondi and Proudhon, saw the main purpose of political economy in the search for ways of a fair, just distribution of wealth rather than in investigation of its sources"
[Smirnov et al, 1984, 25#cptResource289#]

Samuelson:
"...Samuelson's treatment of this science. In his words `any society, whether it consists of a totally collectivized communistic state, a tribe of South Sea Islanders, a capitalistic industrial nation, a Swiss Family Robinson, a Robinson Crusoe -or, one might almost add, a colony of bees- must somehow confront three fundamental and interdependent economic probles:
 1. What commodities shall be produced?...
 2. How shall goods be produced?...
 3. For Whom shall goods be produced?... These three problems are fundamental and common to all economies.'"
[Smirnov et al, 1984, 32#cptResource289#]

"economics, whose subject is the optimal use of resources in society"
[Steiner, 1988, viii#cptResource450#]

Από όλους τους ορισμούς επικρατούν οι παρακάτω:
α) επιστήμη για τις διάφορες δραστηριότητες των ανθρώπων, στενά συνδεδεμένη με τη διαδικασία της ανταλλαγής και των χρηματικών συναλλαγών.
β) επιστήμη για την αξιοποίηση των περιορισμένων πόρων για την παραγωγή εμπορευμάτων.
γ) επιστήμη για την "επιχειρησιακή" δραστηριότητα των ανθρώπων.
δ) επιστήμη που ασχολείται με την επίλυση των προβλημάτων στη σφαίρα της κατανάλωσης και της παραγωγής.
ε) επιστήμη για τον πλούτο των λαών.
[ΜΕΤΣΕΦ, 1978, 11#cptResource124#]

Economics:
The theories, principles, and models that deal with how the market process works. It attempts to explain how wealth is created and distributed in communities, how people allocate resources that are scarce and have many alternative uses, and other such matters that arise in dealing with human wants and their satisfaction.
Learn more about this term
Usage Example
Many students who pursue a career in business must study economics to help better understand why businesses make certain decisions based on the current economic state.
[BusinessDictionary.com Term of the Day, 2015-01-15]

sciEcn'WHOLE

_WHOLE:
* sympan'societyHuman'science_system'sociology#cptCore330#
* economy#cptEconomy323.33#
===
"economy" is a concept with referent a "real-economy". The concept of "economy" is part, not whole, of economics.
Everything we think and talk, are concepts that reflect corectly or not existing or not "referents".
[hmnSngo.2011-07-27]

sciEcn'ENVIRONMENT#cptCore756#

name::
* McsEngl.sciEcn'ENVIRONMENT,

sciEcn'Conference

name::
* McsEngl.sciEcn'Conference,

sciEcn'evaluation

name::
* McsEngl.sciEcn'evaluation,

_ADDRESS.WPG:
* http://evonomics.com/economics-is-a-mess-and-needs-to-be-reform//

sciEcn'field#cptEconomy581.21#

name::
* McsEngl.sciEcn'field,
* McsEngl.branch-of-economics@cptEconomy581.21,
* McsEngl.economics'field@cptEconomy581,
* McsEngl.sciEcn'Branch,
* McsEngl.sciEcn'field@cptEconomy581.21,
* McsEngl.field-of-economics@cptEconomy581.21,
* McsEngl.subdiscipline-of-economics@cptEconomy581.21,
* McsEngl.sciEcnsFld@cptEconomy581.21, {2012-05-10}

_GENERIC:
* entity.whole.systemWeak.science'field#cptCore406.1#

_SPECIFIC: _Field:
* business_management#cptEconomy11.9#
* econometrics#cptEconomy581.46#
* environmental-economics#cptEconomy581.8#
* financial-economics#cptEconomy71.1#
* industrial-organization##
* international-economics#cptEconomy170#
* macroeconomics#cptEconomy316#
* microeconomics#cptEconomy248#
* monetary-economics#cptCore999.3#
===
Subdisciplines
Attention economics
Behavioural economics
Bioeconomics
Contract theory
Development economics
Econometrics
Economic geography
Economic history
Economic sociology
Education economics
Energy economics
Entrepreneurial economics
Environmental economics
Feminist economics
Financial economics
Green economics
Industrial organization
Information economics
International economics
Institutional economics
Labor economics
Law and economics
Managerial economics
Mathematical economics
Monetary economics
Public finance
Public economics
Real estate economics
Regional science
Resource economics
Socialist economics
Welfare economics
[http://en.wikipedia.org/wiki/Outline_of_economics]

_List_El:
ΑΣΦΑΛΙΣΤΙΚΗ ΟΙΚΟΝΟΜΙΑ
ΒΑΣΙΚΕΣ ΓΝΩΣΕΙΣ ΚΟΙΝΩΝΙΚΩΝ ΕΠΙΣΤΗΜΩΝ
ΒΙΟΓΡΑΦΙΕΣ ΔΙΑΣΗΜΩΝ ΟΙΚΟΝΟΜΟΛΟΓΩΝ
ΒΙΟΜΗΧΑΝΙΚΗ ΟΙΚΟΝΟΜΙΑ
ΓΕΩΡΓΙΚΗ ΟΙΝΟΜΙΑ
ΔΗΜΟΓΡΑΦΙΑ
ΔΗΜΟΣΙΑ ΕΠΙΛΟΓΗ,
ΔΗΜΟΣΙΑ ΛΟΓΙΣΤΙΚΗ
ΔΙΕΘΝΕΙΣ ΟΙΚΟΝΟΜΙΚΟΙ ΟΡΓΑΝΙΣΜΟΙ
ΔΙΚΑΙΟ ΤΩΝ ΕΠΙΧΕΙΡΗΣΕΩΝ
ΕΜΠΟΡΙΟ ΕΣΩΤΕΡΙΚΟ/ΔΙΕΘΝΕΣ
ΕΡΓΑΤΙΚΟ ΔΙΚΑΙΟ
ΘΕΩΡΙΑ ΟΙΚΟΝΟΜΙΚΗΣ ΔΥΝΑΜΙΚΗΣ ΤΟΥ ΧΑΡΟΝΤ,
ΙΔΙΩΤΙΚΗ ΟΙΚΟΝΟΜΙΑ
ΙΣΤΟΡΙΑ ΟΙΚΟΝΟΜΙΚΟΥ ΒΙΟΥ
ΙΣΤΟΡΙΑ ΟΙΚΟΝΟΜΙΚΩΝ ΘΕΩΡΙΩΝ
ΚΟΙΝΩΝΙΚΗ ΠΟΛΙΤΙΚΗ
ΚΩΔΙΚΑΣ ΦΟΡΟΛΟΓΙΚΩΝ ΣΤΟΙΧΕΙΩΝ
ΛΟΓΙΣΤΙΚΗ ΕΛΕΓΚΤΙΚΗ
ΜΑΚΡΟΟΙΚΟΝΟΜΙΑ/macroeconomics#cptEconomy316: attPar#
ΜΙΚΡΟΟΙΚΟΝΟΜΙΑ/microeconomis#cptEconomy248: attPar#
ΝΑΥΤΙΚΟ ΔΙΚΑΙΟ
ΝΑΥΤΙΛΙΑΚΗ ΟΙΚΟΝΟΜΙΑ
ΟΙΚΟΝΟΜΙΚΑ ΣΥΣΤΗΜΑΤΑ
ΟΙΚΟΝΟΜΙΚΑ ΜΑΘΗΜΑΤΙΚΑ
ΟΙΚΟΝΟΜΙΚΕΣ ΣΧΟΛΕΣ
ΟΙΚΟΝΟΜΙΚΗ ΣΤΑΤΙΣΤΙΚΗ
ΟΡΓΑΝΩΣΗ ΕΠΙΧΕΙΡΗΣΕΩΝ
ΠΙΣΤΗ ΤΡΑΠΕΖΑ ΝΟΜΙΣΜΑ
ΠΟΛΙΤΙΚΗ ΟΙΚΟΝΟΜΙΑ
ΣΥΝΑΛΑΓΜΑ ΧΡΗΜΑΤΙΣΤΗΡΙΑ
ΤΕΛΩΝΕΙΑΚΑ ΔΑΣΜΟΛΟΓΙΚΑ
ΤΡΑΠΕΖΙΚΗ ΟΙΚΟΝΟΜΙΑ
ΦΟΡΟΛΟΓΙΚΟ ΔΙΚΑΙΟ

sciEcn'field.COMPARATIVE-ECONOMICS

_CREATED: {2012-11-15}

name::
* McsEngl.sciEcn'field.COMPARATIVE-ECONOMICS,
* McsEngl.comparative-economics@cptEconomy, {2012-11-15}

_DESCRIPTION:
Comparative economic systems is the subfield of economics dealing with the comparative study of different systems of economic organization, such as capitalism, socialism, feudalism and the mixed economy. Comparative economics therefore consisted mainly of comparative economic systems analysis before 1989 but switched substantially its efforts to comparison of the economic effects of the transition experience from socialism to capitalism. [1]

[edit]During the Cold War

The comparative study of economic systems was of significant practical and political significance during the Cold War, when the relative merits of capitalist and communist systems of economic and political organization were a central topic of political concern. One of the most important early contributions was the calculation debate regarding the assertion of Ludwig von Mises that a system of central planning could never work because the information generated by a price system would never be available to planners. One response was the advocacy and partial implementation of systems of market socialism.

[edit]After 1989

With the fall of Communism, attention shifted to problems of transition economies. With a handful of exceptions, all currently existing systems are capitalist in orientation, though the substantial economic role of the state supports the alternative view that the mixed economy has emerged as the dominant form of economic organisations.

Even in the absence of substantial differences between countries, the comparative study of economic systems of resource allocation is of considerable value in illustrating the implications of alternative methods of resource allocation, including markets, households, centralised allocation and custom.
[http://en.wikipedia.org/wiki/Comparative_economic_systems]

sciEcn'field.CULTURAL-ECONOMICS

_CREATED: {2012-12-20}

name::
* McsEngl.sciEcn'field.CULTURAL-ECONOMICS,
* McsEngl.cultural-economics@cptEconomy, {2012-12-20}

_DESCRIPTION:
Cultural economics is the branch of economics that studies the relation of culture to economic outcomes. Here, 'culture' is defined by shared beliefs and preferences of respective groups. Programmatic issues include whether and how much culture matters as to economic outcomes and what its relation is to institutions.[1]

Applications include the study of religion,[2] social norms.[3] social identity,[4] fertility,[5] ideology,[6] hatred,[7] terrorism,[8] trust,[9] and the culture of economics.[10][11] A general analytical theme is how ideas and behaviors are spread among individuals through the formation of social capital,[12] social networks[13] and processes such as social learning, as in the theory of social evolution[14] and information cascades.[15] Methods include case studies and theoretical and empirical modeling of cultural transmission within and across social groups.[16]
[http://en.wikipedia.org/wiki/Cultural_economics]

sciEcn'field.DEVELOPMENT-ECONOMICS

_CREATED: {2012-05-24}

name::
* McsEngl.sciEcn'field.DEVELOPMENT-ECONOMICS,
* McsEngl.conceptEconomy581.31,
* McsEngl.development-economics@cptEconomy581.31, {2012-05-24}

_DESCRIPTION:
Development economics is a branch of economics which deals with economic aspects of the development process in low-income countries. Its focus is not only on methods of promoting economic growth and structural change but also on improving the potential for the mass of the population, for example, through health and education and workplace conditions, whether through public or private channels.[1]
Development economics involves the creation of theories and methods that aid in the determination of policies and practices and can be implemented at either the domestic or international level.[2] This may involve restructuring market incentives or using mathematical methods like inter-temporal optimization for project analysis, or it may involve a mixture of quantitative and qualitative methods.[3]
Unlike in many other fields of economics, approaches in development economics may incorporate social and political factors to devise particular plans.[4] Also unlike many other fields of economics, there is "no consensus" on what students should know.[5] Different approaches may consider the factors that contribute to economic convergence or non-convergence across households, regions, and countries.[6]
[http://en.wikipedia.org/wiki/Development_economics]

sciEcn'field.ECONOMETRICS

name::
* McsEngl.sciEcn'field.ECONOMETRICS,
* McsEngl.conceptEconomy581.46,
* McsEngl.conceptEconomy678,
* McsEngl.view.econometrics,
* McsEngl.econometrics@cptEconomy678,
* McsEngl.sciEcn'econometrics,

_GENERIC:
* economics'field#cptEconomy581.21#

_DESCRIPTION:
Econometrics may be defined generally as the "application of mathematics and statistical methods to the analysis of economic data."[1][2] Theoretical econometrics considers questions about the statistical properties of estimators in an economic model. Those properties may permit testing a hypothesis as to its acceptance or rejection on the basis of statistical inferences from the available economic statistics. Applied econometrics includes the application of econometric methods to assess economic theories and econometric models for use in economic forecasting.[3] The first known use of the term "econometrics" (in cognate form) was by Pawel Ciompa in 1910, Ragnar Frisch is credited with coining the term in the sense that it is used today.[1]

While many econometric methods represent applications of standard statistical models, there are some special features of economic data that distinguish econometrics from other branches of statistics. Economic data are generally observational, rather than being derived from controlled experiments. This has affected the development of the subject.[4] Because the individual units in an economy interact with each other, the observed data tend to reflect complex economic equilibrium conditions rather than simple behavioral relationships based on preferences or technology. Consequently, the field of econometrics has developed methods for identification and estimation of simultaneous equation models. These methods may allow researchers to make causal inferences in the absence of controlled experiments.[5] Computational elements of econometric methods may in turn determine their usefulness.[6]
[http://en.wikipedia.org/wiki/Econometric]

sciEcn'field.ENVIRONMENTAL

name::
* McsEngl.sciEcn'field.ENVIRONMENTAL,
* McsEngl.conceptEconomy581.8,
* McsEngl.environmental-economics@cptEconomy581.8,

_DESCRIPTION:
Environmental economics is a subfield of economics concerned with environmental issues. Quoting from the National Bureau of Economic Research Environmental Economics program:

“  [...] Environmental Economics [...] undertakes theoretical or empirical studies of the economic effects of national or local environmental policies around the world [...]. Particular issues include the costs and benefits of alternative environmental policies to deal with air pollution, water quality, toxic substances, solid waste, and global warming.[1]
[http://en.wikipedia.org/wiki/Environmental_economics]

sciEcn'field.GEOGRAPHICAL

name::
* McsEngl.sciEcn'field.GEOGRAPHICAL,
* McsEngl.economic-geography@cptEconomy581i,

Economic geography is the study of the location, distribution and spatial organization of economic activities across the world. The subject matter investigated is strongly influenced by the researcher's methodological approach. Neoclassical location theorists, following in the tradition of Alfred Weber, tend to focus on industrial location and use quantitative methods. Since the 1970s, two broad reactions against neoclassical approaches have significantly changed the discipline: Marxist political economy, growing out of the work of David Harvey; and the new economic geography which takes into account social, cultural, and institutional factors in the spatial economy.

Economic geography is usually regarded as a subfield of the discipline of geography, although recently economists such as Paul Krugman and Jeffrey Sachs have pursued interests that can be considered part of economic geography.[1] Krugman has gone so far as to call his application of spatial thinking to international trade theory the "new economic geography", which directly competes with an approach within the discipline of geography that is also called "new economic geography".[2] The name geographical economics has been suggested as an alternative.[3]

Given the variety of approaches, economic geography has taken to many different subject matters, including: the location of industries, economies of agglomeration (also known as "linkages"), transportation, international trade and development, real estate, gentrification, ethnic economies, gendered economies, core-periphery theory, the economics of urban form, the relationship between the environment and the economy (tying into a long history of geographers studying culture-environment interaction), and globalization. This list is by no means exhaustive.
[http://en.wikipedia.org/wiki/Economic_geography]

sciEcn.field.INFORMATION-ECONOMICS

name::
* McsEngl.sciEcn.field.INFORMATION-ECONOMICS,
* McsEngl.conceptEconomy581.45,
* McsEngl.information-economics@cptEconomy248.2,
* McsEngl.economics-of-information@cptEconomy248.2,

_DESCRIPTION:
Information economics or the economics of information is a branch of microeconomic theory that studies how information affects an economy and economic decisions. Information has special characteristics. It is easy to create but hard to trust. It is easy to spread but hard to control. It influences many decisions. These special characteristics (as compared with other types of goods) complicate many standard economic theories.

The subject of "information economics" is treated under Journal of Economic Literature classification code JEL D8 - Information, Knowledge, and Uncertainty. The present article reflects topics included in that code. There are several subfields of information economics. The first insights in information economics related to the economics of information goods. In recent decades, there have been influential advances in the study of information asymmetries and their implications for contract theory.
[http://en.wikipedia.org/wiki/Information_economics]

sciEcn'field.INTERNATIONAL

_CREATED: {2012-05-24} {2011-07-20}

name::
* McsEngl.sciEcn'field.INTERNATIONAL,
* McsEngl.conceptEconomy581.42,
* McsEngl.conceptEconomy170,
* McsEngl.international-economics@cptEconomy170,
* McsEngl.sciEcn'International-economics,

_DESCRIPTION:
International trade is also a branch of economics, which, together with international finance, forms the larger branch of international economics.
[http://en.wikipedia.org/wiki/International_trade] 2021-11-15,
===
International economics is concerned with the effects upon economic activity of international differences in productive resources and consumer preferences and the institutions that affect them. It seeks to explain the patterns and consequences of transactions and interactions between the inhabitants of different countries, including trade, investment and migration.economies of scale are benefits from bulk buying
International trade studies goods-and-services flows across international boundaries from supply-and-demand factors, economic integration, international factor movements, and policy variables such as tariff rates and trade quotas.[1]
International finance studies the flow of capital across international financial markets, and the effects of these movements on exchange rates.[2]
International monetary economics and macroeconomics studies money and macro flows across countries.[3]
[http://en.wikipedia.org/wiki/International_economics]

sciEcn'field.MACROECONOMICS

name::
* McsEngl.sciEcn'field.MACROECONOMICS,
* McsEngl.conceptEconomy581.41,
* McsEngl.conceptEconomy316,
* McsEngl.macroeconomics@cptEconomy316,
* McsEngl.macroeconomics-theory,
* McsElln.ΜΑΚΡΟΟΙΚΟΝΟΜΙΑ@cptEconomy316,
* McsElln.ΜΑΚΡΟΟΙΚΟΝΟΜΙΚΗ,

_GENERIC:
* economics'field#cptEconomy581.21#

_DESCRIPTION:
Macroeconomics examines the economy as a whole to explain broad aggregates and their interactions "top down," that is, using a simplified form of general-equilibrium theory.[44] Such aggregates include national income and output, the unemployment rate, and price inflation and subaggregates like total consumption and investment spending and their components. It also studies effects of monetary policy and fiscal policy.

Since at least the 1960s, macroeconomics has been characterized by further integration as to micro-based modeling of sectors, including rationality of players, efficient use of market information, and imperfect competition.[45] This has addressed a long-standing concern about inconsistent developments of the same subject.[46]

Macroeconomic analysis also considers factors affecting the long-term level and growth of national income. Such factors include capital accumulation, technological change and labor force growth.[47]
[http://en.wikipedia.org/wiki/Economic_theory]
===
ΜΑΚΡΟΟΙΚΟΝΟΜΙΑ είναι μελέτη των γενικων/συνολικών μεγεθών οικονομιας.
[hmnSngo.1995-05]
===
It is the study of the economics of a society as a whole.
[Steiner, 1988, viii#cptResource450#]

sciEcn'field.MICROECONOMICS

name::
* McsEngl.sciEcn'field.MICROECONOMICS,
* McsEngl.conceptEconomy581.44,
* McsEngl.conceptEconomy248,
* McsEngl.views.microeconomics@cptEconomy248,
* McsEngl.microeconomics-theory,
* McsEngl.microeconomics@cptEconomy248,
* McsEngl.sciEcn'microeconomics,
* McsElln.ΜΙΚΡΟΟΙΚΟΝΟΜΙΑ@cptEconomy248,
* McsElln.ΜΙΚΡΟΟΙΚΟΝΟΜΙΚΗ,

_GENERIC:
* economics'field#cptEconomy581.21#

_DESCRIPTION:
microeconomics
Study of the economic behavior of individual units of an economy (such as a person, household, firm, or industry) and not of the aggregate economy (which is the domain of macroeconomics). Microeconomics is primarily concerned with the factors that affect individual economic choices, the effect of changes in these factors on the individual decision makers, how their choices are coordinated by markets, and how prices and demand are determined in individual markets. The main subjects covered under microeconomics include theory of demand, theory of the firm, and demand for labor and other factors of production.
Usage Example
Consumer behavior falls under the realm of microeconomics and influences how prices and supplies are determined in individual markets.
[term.of.the.day@businessdictionary.com, 2014-07-17]
===
Microeconomics, like macroeconomics, is a fundamental method for analyzing the economy as a system. It treats households and firms interacting through individual markets as irreducible elements of the economy, given scarcity and government regulation. A market might be for a product, say fresh corn, or the services of a factor of production, say bricklaying. The theory considers aggregates of quantity demanded by buyers and quantity supplied by sellers at each possible price per unit. It weaves these together to describe how the market may reach equilibrium as to price and quantity or respond to market changes over time.

Such analysis includes the theory of supply and demand. It also examines market structures, such as perfect competition and monopoly for implications as to behavior and economic efficiency. Analysis of change in a single market often proceeds from the simplifying assumption that relations in other markets remain unchanged, that is, partial-equilibrium analysis. General-equilibrium theory allows for changes in different markets and aggregates across all markets, including their movements and interactions toward equilibrium.[10]
[http://en.wikipedia.org/wiki/Economic_theory]
===
Microeconomics is the study of the producing unit, the firm, whether public or private, in its various aspects and activities, among them, demand for its product, supply of resources to produce the product, and capital investment to provide the land, buildings, and machinery for production.
[Steiner, 1988, viii#cptResource450#]
===
Η ΜΙΚΡΟΟΙΚΟΝΟΜΙΚΗ ΕΧΕΙ ΩΣ ΑΝΤΙΚΕΙΜΕΝΟ ΤΗ ΜΕΛΕΤΗ ΤΗΣ ΣΥΜΠΕΡΙΦΟΡΑΣ ΤΩΝ ΔΙΑΦΟΡΩΝ ΜΟΝΑΔΩΝ ΕΝΤΟΣ ΤΗΣ ΟΙΚΟΝΟΜΙΑΣ, ΟΠΩΣ ΕΙΝΑΙ ΟΙ ΕΠΙΧΕΙΡΗΣΕΙΣ, ΟΙ ΒΙΟΜΗΧΑΝΙΕΣ ΚΑΙ ΤΑ ΝΟΙΚΟΚΥΡΙΑ, ΚΑΙ ΩΣ ΕΚ ΤΟΥΤΟΥ ΑΣΧΟΛΕΙΤΑΙ ΜΕ ΜΕΓΕΘΗ ΤΑ ΟΠΟΙΑ ΑΝΑΦΕΡΟΝΤΑΙ ΣΤΙΣ ΜΟΝΑΔΕΣ ΑΥΤΕΣ.
[ΠΕΤΡΑΚΗ, 1977, 17#cptResource288#]

sciEcn'Goal (desired function)#cptCore837#

name::
* McsEngl.sciEcn'Goal (desired function),

"ΣΕ ΤΕΛΕΥΤΑΙΑ ΑΝΑΛΥΣΗ Η ΚΑΝΑΝΟΗΣΗ ΤΗΣ ΟΙΚΟΝΟΜΙΚΗΣ ΠΡΑΓΜΑΤΙΚΟΤΗΤΑΣ ΣΚΟΠΟ ΕΧΕΙ ΝΑ ΜΑΣ ΒΟΗΘΗΣΗ ΣΤΟΝ ΕΛΕΓΧΟ ΚΑΙ ΤΗ ΒΕΛΤΙΩΣΗ-ΤΗΣ.
[Samuelson, 1973, 13#cptResource297#]

sciEcn'Method.Robinson

name::
* McsEngl.sciEcn'Method.Robinson,

ΜΕΘΟΔΟΣ ΡΟΒΙΝΣΟΝΙΣΜΟΥ

Εφαρμόζεται στην αστική κλασική οικονομία καθώς και στην μεταγενέστερη εκχυδαϊσμένη οικονομική θεωρία. Η μέθοδολογία αυτή παίρνει για αφετηριακό σημείο τους διαλογισμούς για τη συμπεριφορά της δοσμένης μονάδας-ανθρώπου (ο Ροβινσών στο ακατοίκητο νησί) εκτός της κοινωνίας.
Η σχολή του 'ροβινσονισμού' γίνεται καθοριστική στην υποκειμενικοψυχολογική σχολή της αστικής πολιτικής οικονομίας.
[ΜΕΤΣΕΦ, 1978, 30#cptResource124#]

sciEcn'Importance#cptCore781#

name::
* McsEngl.sciEcn'Importance,

"ΟΠΟΙΟΣ ΔΕΝ ΕΧΕΙ ΣΥΣΤΗΜΑΤΙΚΩΣ ΜΕΛΕΤΗΣΕΙ ΟΙΚΟΝΟΜΙΚΑ ΕΙΝΑΙ ΑΝΙΚΑΝΟΣ ΑΚΟΜΗ ΚΑΙ ΝΑ ΣΚΕΦΤΗ ΤΑ ΕΘΝΙΚΑ ΘΕΜΑΤΑ".
[Samuelson, 1973, 10#cptResource297#]

sciEcn'Industrial-organization

name::
* McsEngl.sciEcn'Industrial-organization,

_GENERIC:
* economics-field#cptEconomy406

Industrial organization is the field of economics that builds on the theory of the firm in examining the structure of, and boundaries between, firms and markets.[1]
The subject has been described as concerned with markets that "cannot easily be analyzed using the standard textbook competitive model."[2] Industrial organization adds to the perfectly competitive model real-world frictions such as transaction costs,[3] limited information, and barriers to entry of new firms that may be associated with imperfect competition. It analyzes determinants of firm and market organization and behavior as between competition and monopoly,[4] including from government actions.
There are different approaches to the subject. One is descriptive in providing an overview of industrial organization, such as measures of competition and the size-concentration of firms in an industry. A second uses microeconomic models to explain internal firm organization and market strategy.[5] As to strategic firm interaction, non-cooperative game theory has become the standard unifying method of analysis.[6] A third aspect is oriented to public policy as to economic regulation and antitrust law.[7][8]
The development of industrial organization as a separate field owes much to Edward Chamberlin,[9] Edward S. Mason,[10] and Joe S. Bain.[11][12]
[http://en.wikipedia.org/wiki/Industrial_organization]

sciEcn'Misc-concepts

name::
* McsEngl.sciEcn'Misc-concepts,

sciEcn'Nobel

name::
* McsEngl.sciEcn'Nobel,

Timeline of Nobel Prize Winners ECONOMICS

1969 Ragnar Frisch and Jan Tinbergen
1970 Paul Samuelson
1971 Simon Kuznets
1972 Kenneth J. Arrow and John R. R. Hicks
1973 Wassily Leontief
1974 Gunnar Myrdal and Friedrich A. von Hayek
1975 Leonid Kantorovich and Tjalling C. Koopmans
1976 Milton Friedman
1977 Bertil Ohlin and James Meade
1978 Herbert Simon
1979 Sir Arthur Lewis and Theodore W. Schultz
1980 Lawrence R. Klein
1981 James Tobin
1982 George J. Stigler
1983 Gerard Debreu
1984 Richard Stone
1985 Franco Modigliani
1986 James Buchanan
1987 Robert Solow
1988 Maurice Allais
1989 Trygve Haavelmo
1990 Merton Miller, William Sharpe, and Harry Markowitz
1991 Ronald Coase
1992 Gary Becker
1993 Robert Fogel and Douglas North
1994 John Nash, John Harsanyi, and Reinhart Selton
1995 Robert Lucas
1996 James Mirrlees, William Vickrey
1997 Robert Merton, Myron Scholes
1998 Amartya Sen for his work on welfare economics.
1999 Robert Mundell
2000 James Heckman, Daniel McFadden
2001 George Akerlof, Michael Spence, Joseph Stiglitz
2002 Daniel Kahneman, Vernon Smith
2003 Robert F. Engle, Clive W. J. Granger
[http://www.nobel-winners.com/Economics/index.html]

sciEcn'Organization

_CREATED: {2012-11-20}

name::
* McsEngl.sciEcn'Organization,
* McsEngl.economics-organization@cptEconomy,

sciEcn'Problem

name::
* McsEngl.sciEcn'Problem,

"ΕΠΕΙΔΗ ΔΕΝ ΜΠΟΡΕΙ, ΟΠΩΣ Η ΦΥΣΙΚΗ, ΝΑ ΕΚΤΕΛΗ ΠΕΙΡΑΜΑΤΑ ΥΠΟ ΕΛΕΓΧΟΜΕΝΕΣ ΣΥΝΘΗΚΕΣ, ΑΝΤΙΜΕΤΩΠΙΖΕΙ ΣΟΒΑΡΑ ΜΕΘΟΔΟΛΟΓΙΚΑ ΠΡΟΒΛΗΜΑΤΑ, ΜΕΡΙΚΑ ΑΠΟ ΤΑ ΟΠΟΙΑ ΕΙΝΑΙ ΤΑ ΕΞΗΣ:
 ΤΟ ΥΠΟΚΕΙΜΕΝΙΚΟ ΣΤΟΙΧΕΙΟ ΚΑΤΑ ΤΗ ΘΕΩΡΗΣΗ ΤΩΝ ΦΑΙΝΟΜΕΝΩΝ ΚΑΙ Η ΑΞΙΟΛΟΓΙΚΗ ΚΡΙΣΗ,
 ΟΙ ΣΥΓΧΥΣΕΙΣ ΣΤΗΝ ΟΡΟΛΟΓΙΑ ΚΑΙ ΟΙ ΣΥΝΑΙΣΘΗΜΑΤΙΚΕΣ ΕΡΜΗΝΕΙΕΣ ΤΩΝ ΕΝΝΟΙΩΝ,
 ΟΙ ΝΟΜΟΙ ΠΙΘΑΝΟΤΗΤΩΝ ΜΕ ΚΑΝΟΝΙΚΕΣ ή ΜΗ ΚΑΜΠΥΛΕΣ ΣΦΑΛΜΑΤΩΝ.
[Samuelson, 1973, 26#cptResource297#]

sciEcn'Rational-expectations

name::
* McsEngl.sciEcn'Rational-expectations,
* McsEngl.rational-expectations-hypothesis,
====== lagoGreek:
* McsElln.υποθεση-ορθολογικων-προσδοκιων,

Rational expectations is a hypothesis in economics which states that agents' predictions of the future value of economically relevant variables are not systematically wrong in that all errors are random. Equivalently, this is to say that agents' expectations equal true statistical expected values. An alternative formulation is that rational expectations are model-consistent expectations, in that the agents inside the model assume the model's predictions are valid.[1] The rational expectations assumption is used in many contemporary macroeconomic models, game theory and other applications of rational choice theory.
Since most macroeconomic models today study decisions over many periods, the expectations of workers, consumers and firms about future economic conditions are an essential part of the model. How to model these expectations has long been controversial, and it is well known that the macroeconomic predictions of the model may differ depending on the assumptions made about expectations (see Cobweb model). To assume rational expectations is to assume that agents' expectations may be individually wrong, but are correct on average. In other words, although the future is not fully predictable, agents' expectations are assumed not to be systematically biased and use all relevant information in forming expectations of economic variables.
This way of modeling expectations was originally proposed by John F. Muth (1961) and later became influential when it was used by Robert E. Lucas Jr and others. Modeling expectations is crucial in all models which study how a large number of individuals, firms and organizations make choices under uncertainty. For example, negotiations between workers and firms will be influenced by the expected level of inflation, and the value of a share of stock is dependent on the expected future income from that stock.
[http://en.wikipedia.org/wiki/Rational_expectations]

sciEcn'resourceInfHmn#cptResource843#

name::
* McsEngl.sciEcn'resourceInfHmn,

_QUERY: time: BIBLIOGRAPHY#ql:[Field FdTimeSubject:economics]#, atrlp.bibl:hidden:ECONOMICS,

name::
* McsEngl.economics'resource,
* McsEngl.sciEcm'resource,

_ADDRESS.WPG:
* {2017-09-04} https://rantt.com/economists-make-astrologers-look-good-why-they-couldnt-predict-the-great-recession-868dcd75f23b,
* fairness: https://www.theatlantic.com/science/archive/2015/10/people-dont-actually-want-equality/411784/,
* history of economic thought http://www.hetwebsite.net/het/home.htm,
* http://www.ovejakobsen.com/artikler/Circulation%20economics%20-%20Ecological%20man.pdf,
* book: https://books.google.gr/books?id=BkzHBgAAQBAJ&printsec=frontcover&dq=Economics+of+the+1%25&hl=en&sa=X&redir_esc=y#v=onepage&q&f=true,
* schools: http://en.wikipedia.org/wiki/Schools_of_economic_thought
* economics: http://en.wikipedia.org/wiki/Economic_theory
* history of economics: http://en.wikipedia.org/wiki/History_of_economic_thought
* history of macroeconomics: http://en.wikipedia.org/wiki/History_of_macroeconomic_thought
===
* The Concise Encyclopedia of Economics:
- http://www.econlib.org/library/CEETitles.html
- http://www.econlib.org/library/CEECategory.html,
* https://www.youtube.com/watch?v=nFfpR2gmTeI: Νίκος Θεοχαράκης, ιστορία οικ. θεωριών, κρίση.
- http://www.economicshelp.org/economics-a-z//

JEL classification codes
Articles in economics journals are usually classified according to the JEL classification codes, a system originated by the Journal of Economic Literature. The JEL is published quarterly by the American Economic Association (AEA) and contains survey articles and information on recently published books and dissertations. The AEA maintains EconLit, a searchable data base of citations for articles, books, reviews, dissertations, and working papers classified by JEL codes for the years from 1969. An earlier AEA-sponsored print series is Index of Economic Articles, indexed by author and subject. Coverage includes v. 1-7 for 1886-1965 and v. 8-36 for each year thereafter to 1996.[1]
* http://en.wikipedia.org/wiki/JEL_classification_codes,

sciEcn'school

_CREATED: {2012-03-25}

name::
* McsEngl.sciEcn'school,
* McsEngl.conceptEconomy581.18,
* McsEngl.economic-school@cptEconomy581.18,
* McsEngl.economics'school@cptEconomy581.18, {2012-05-10}
* McsEngl.economics-school@cptEconomy581.18,
* McsEngl.school-of-economics@cptEconomy581.18, {2012-05-10}
* McsEngl.sciEcnsSch@cptEconomy581.18, {2012-05-10}

sciEcn'school.gen.AGENT-BASED-COMPUTATIONAL

name::
* McsEngl.sciEcn'school.gen.AGENT-BASED-COMPUTATIONAL,
* McsEngl.conceptEconomy581.20,
* McsEngl.agent-based-computational-economics@cptEconomy581.20,

_GENERIC:
* economics'school#cptEconomy581.18#

_WHOLE:
* economics'school'computational_economics#cptEconomy581.5#

_DESCRIPTION:
Agent-based computational economics (ACE) is the area of computational economics that studies economic processes, including whole economies, as dynamic systems of interacting agents. As such, it falls in the paradigm of complex adaptive systems.[1] In corresponding agent-based models, the "agents" are "computational objects modeled as interacting according to rules" over space and time, not real people. The rules are formulated to model behavior and social interactions based on incentives and information.[2]

The theoretical assumption of mathematical optimization by agents in equilibrium is replaced by the less restrictive postulate of agents with bounded rationality adapting to market forces.[3] ACE models apply numerical methods of analysis to computer-based simulations of complex dynamic problems for which more conventional methods, such as theorem formulation, may not find ready use.[4] Starting from initial conditions specified by the modeler, the computational economy evolves over time as its constituent agents repeatedly interact with each other, including learning from interactions. In these respects, ACE has been characterized as a bottom-up culture-dish approach to the study of economic systems.[5]

ACE has a similarity to, and overlap with, game theory as an agent-based method for modeling social interactions.[6] But practitioners have also noted differences from standard methods, for example in ACE events modeled being driven solely by initial conditions, whether or not equilibria exist or are computationally tractable, and in the modeling facilitation of agent autonomy and learning.[7]

The method has benefited from continuing improvements in modeling techniques of computer science and increased computer capabilities. The ultimate scientific objective of the method is to "test theoretical findings against real-world data in ways that permit empirically supported theories to cumulate over time, with each researcher’s work building appropriately on the work that has gone before."[8] The subject has been applied to research areas like asset pricing,[9] competition and collaboration,[10] transaction costs,[11] market structure and industrial organization and dynamics,[12] welfare economics,[13] and mechanism design,[14] information and uncertainty,[15] macroeconomics,[16] and Marxist economics.[17][18]
[http://en.wikipedia.org/wiki/Agent-based_computational_economics]

sciEcn'school.gen.ANARCHIST

name::
* McsEngl.sciEcn'school.gen.ANARCHIST,
* McsEngl.conceptEconomy581.23,
* McsEngl.anarchist-economics@cptEconomy581i, {2012-05-23}

_GENERIC:
* economics'school#cptEconomy581.18#

_DESCRIPTION:
Anarchist economics is a set of theories which seeks to outline modes of production and exchange that are not governed by coercive social institutions. Anarcho-capitalists desire a society where the dynamics of competitive free markets are allowed to operate free of compulsory state control; many other anarchist economists, on the other hand, believe economies cannot be truly free unless capitalist property and the capitalist mode of production are abolished.
Charles Fourier
Pierre-Joseph Proudhon
Peter Kropotkin
Mikhail Bakunin
[http://en.wikipedia.org/wiki/Schools_of_economic_thought]

sciEcn'school.gen.AUSTRIAN {1871}

name::
* McsEngl.sciEcn'school.gen.AUSTRIAN {1871},
* McsEngl.conceptEconomy581.24,
* McsEngl.conceptEconomy165,
* McsEngl.austrian-school-of-economics@cptEconomy581.24,
* McsEngl.views.austrian-school@cptEconomy581.24,
* McsEngl.views-of-Austrian-school,
====== lagoGreek:
* McsElln.ΑΥΣΤΡΙΑΚΗ-ΣΧΟΛΗ,

_GENERIC:
* economics'school#cptEconomy581.18#

_WHOLE:
views of first generation neoclassicists#cptEconomy374#

_DESCRIPTION:
Classical economics focused on the labour theory of value, which holds that the value of a commodity is equal to the amount of labour required to produce it.
In the late 19th century, however, attention was focused on the concepts of “marginal” cost and value.
The Austrian School was one of three founding currents of the marginalist revolution of the 1870s, with its major contribution being the introduction of the subjectivist approach in economics.[13]
Carl Menger's 1871 book, Principles of Economics, was the catalyst for this development; while marginalism was generally influential, there was also a more specific school that grew up around Menger, which came to be known as the “Psychological School,” “Vienna School,” or “Austrian School.”[14]
Thorstein Veblen introduced the term neoclassical economics in his Preconceptions of Economic Science (1900) to distinguish marginalists in the objective cost tradition of Alfred Marshall from those in the subjective valuation tradition of the Austrian School.[15][16]
Austrian economics is closely associated with the advocacy of laissez-faire views.
The Austrian School, especially through the works of Friedrich Hayek, was influential in the revival of laissez-faire thought in the 20th century.[17]
[http://en.wikipedia.org/wiki/Austrian_School]
===
The Austrian school of economics was founded in 1871 with the publication of Carl Menger’s Principles of Economics.
Menger, along with william stanley jevons and leon walras, developed the marginalist revolution in economic analysis.
Menger dedicated Principles of Economics to his German colleague William Roscher, the leading figure in the German historical school, which dominated economic thinking in German-language countries.
In his book, Menger argued that economic analysis is universally applicable and that the appropriate unit of analysis is man and his choices.
These choices, he wrote, are determined by individual subjective preferences and the margin on which decisions are made (see marginalism).
The logic of choice, he believed, is the essential building block to the development of a universally valid economic theory.
[http://www.econlib.org/library/Enc/AustrianSchoolofEconomics.html]
===
Austrian School of Economics
Carl Menger (1840-1921) addressed the "diamond-water paradox" that had been puzzling classical economists: the fact that humanity finds diamonds more valuable than water although water is far more important. Like the philosopher Schopenhauer, Menger concluded that people followed impulses more than reason. Menger focused on the uncertainties in human behavior. He asserted that complete knowledge of what is going to happen economically does not exist and that decisions based on expectations of what will happen involve risk. Producers take a risk because they cannot predict with certainty that what they receive in sales will be greater than their production costs. As obvious as this is to people today, it was not the economic model that was standard before Menger. With these observations Menger began what became known as the Austrian School of Economics. Menger believed that it was for entrepreneurs to collect and evaluate information as best they could and to take calculated risks – a view that more than a century later would appear as platitude.

Carl Menger
Carl Menger. He introduced into pricing theory the public acting other than with logic.

A fellow Austrian, Eugen von Bφhm-Bawerk (1851-1914), read Carl Menger's "Principles of Economics," became an adherent of his theories and wrote criticisms of Marx's economics, describing capitalists as helping rather than exploiting their employees. Bφhm-Bawerk taught courses at the University of Vienna, and among his students were those who would become well-known as associates of the Austrian School of Economics: Joseph Schumpeter, Ludwig von Mises and Henryk Grossman.

Schumpeter taught at Harvard beginning in 1932 and was most influential. He described capitalism as in a failure-success continuum rather than just headed for failure as Marx had described. Schumpeter claimed that socialistic creations would hamper the beneficence of the individualist entrepreneur hero. Among his students was Alan Greenspan, chairman of the US Board of Governors of the Federal Reserve, 1987-2006, who shared with Ayn Rand a belief in the individualist enterpreneur hero.

Ludwig von Mises and Friedrich von Hayek were also from Europe. They ran from Hitler, von Mises to New York and Hayek to London. Hayek was responding to European fascism and to economic policies in the Soviet Union. He claimed that government guided by majority opinion made sense only if that opinion was independent of government. Hayek believed it best to leave a free play of ideas among the masses in economic matters. He and von Mises believed that people following their own innovations and doing what they see as in their interest is better than a few bureaucrats trying to constrict economic development into a plan of their making – no matter how bright the planners. Hayek won the Nobel Memorial Prize in Economic Sciences in 1974.
[http://www.fsmitha.com/h2/phil02.htm]

=== analytic:
ΑΥΣΤΡΙΑΚΗ ΣΧΟΛΗ είναι ΑΠΟΨΕΙΣ ΟΙΚΟΝΟΜΙΑΣ αυστριακών οικονομολόγων ...
[hmnSngo.1995-05]
---
"ΑΝΤΙΜΑΡΞΙΣΤΙΚΗ ΚΑΤΕΥΘΥΝΣΗ ΣΤΗΝ ΑΣΤΙΚΗ ΟΙΚΟΝΟΜΙΚΗ ΘΕΩΡΙΑ ΤΗΣ ΤΕΛΕΥΤΑΙΑΣ ΤΡΙΑΚΟΝΤΑΕΤΙΑΣ ΤΟΥ 19ου ΚΑΙ ΤΩΝ ΑΡΧΩΝ ΤΟΥ 20ου ΑΙΩΝΑ.
ΟΙ ΠΙΟ ΔΙΑΚΕΚΡΙΜΕΝΟΙ ΕΚΠΡΟΣΩΠΟΙ-ΤΗΣ ΗΤΑΝ ΟΙ ΑΥΣΤΡΙΑΚΟΙ ΟΙΚΟΝΟΜΟΛΟΓΟΙ
- Κ. ΜΕΝΓΚΕΡ,
- Ε. ΜΠΕΜ-ΜΠΑΒΕΡΚ,
- Φ. ΒΙΖΕΡ.
... ΟΙ ΟΙΚΟΝΟΜΟΛΟΓΟΙ ΤΗΣ ΣΧΟΛΗΣ ΑΥΤΗΣ ΔΙΑΤΥΠΩΣΑΝ ΤΗ ΛΕΓΟΜΕΝΗ ΘΕΩΡΙΑ ΤΗΣ ΟΡΙΑΚΗΣ ΧΡΗΣΙΜΟΤΗΤΑΣ, ΣΥΜΦΩΝΑ ΜΕ ΤΗΝ ΟΠΟΙΑ Η ΑΞΙΑ ΤΩΝ ΑΓΑΘΩΝ ΚΑΘΟΡΙΖΕΤΑΙ ΟΧΙ ΑΠΟ ΤΗ ΔΑΠΑΝΗ ΤΗΣ ΚΟΙΝΩΝΙΚΑ ΑΝΑΓΚΑΙΑΣ ΕΡΓΑΣΙΑΣ, ΑΛΛΑ ΑΠΟ ΤΗΝ ΥΠΟΚΕΙΜΕΝΙΚΗ ΕΚΤΙΜΗΣΗ ΤΟΥ ΑΓΟΡΑΣΤΗ ΚΑΙ ΤΟΥ ΠΟΥΛΗΤΗ, ΑΠΟ ΤΗ ΧΡΗΣΙΜΟΤΗΤΑ ΤΟΥ ΕΜΠΟΡΕΥΜΑΤΟΣ."
[ΛΕΞΙΚΟ ΠΟΛΙΤΙΚΗΣ ΟΙΚΟΝΟΜΙΑΣ 1983, 74#cptResource172#]

sciEcn'school.gen.Behavioral

name::
* McsEngl.sciEcn'school.gen.Behavioral,
* McsEngl.conceptEconomy581.15,
* McsEngl.behavioral-economics@cptEconomy581.15,

_GENERIC:
* economics'school#cptEconomy581.18#

_DESCRIPTION:
Behavioral economics and its related area of study, behavioral finance, use social, cognitive and emotional factors in understanding the economic decisions of individuals and institutions performing economic functions, including consumers, borrowers and investors, and their effects on market prices, returns and the resource allocation. The fields are primarily concerned with the bounds of rationality of economic agents. Behavioral models typically integrate insights from psychology with neo-classical economic theory.
Behavioral analysts are not only concerned with the effects of market decisions but also with public choice, which describes another source of economic decisions with related biases towards promoting self-interest.
[http://en.wikipedia.org/wiki/Behavioural_economics]

sciEcn'school.gen.CAPITALISM

name::
* McsEngl.sciEcn'school.gen.CAPITALISM,
* McsEngl.conceptEconomy581.26,
* McsEngl.conceptEconomy241,
* McsEngl.economics.capitalism@cptEconomy241,
* McsEngl.views.capitalist@cptEconomy241,
====== lagoGreek:
* McsElln.ΑΣΤΙΚΗ-ΠΟΛΙΤΙΚΗ-ΟΙΚΟΝΟΜΙΑ@cptEconomy241,
* McsElln.ΚΑΠΙΤΑΛΙΣΤΙΚΗ-ΠΟΛΙΤΙΚΗ-ΟΙΚΟΝΟΜΙΑ,
* McsElln.οικονομικη@cptCore.καπιταλιστικη@cptEconomy241,

_GENERIC:
* economics'school#cptEconomy581.18#

_DESCRIPTION:
ΑΣΤΙΚΗ ΠΟΛΙΤΙΚΗ ΟΙΚΟΝΟΜΙΑ είναι ΑΠΟΨΕΙΣ ΓΙΑ ΤΗΝ ΟΙΚΟΝΟΜΙΑ που θεωρεί σαν καλύτερη οικονομια τον 'καπιταλισμο'.
[hmnSngo.1995-05]

sciEcn'school.gen.capitalism.Regulated

name::
* McsEngl.sciEcn'school.gen.capitalism.Regulated,
* McsEngl.conceptEconomy581.27,
* McsEngl.conceptEconomy233,
* McsEngl.neoclassicists,
* McsEngl.neoclassicists-second-generation@cptEconomy233,
* McsEngl.regulated-capitalism-school,
* McsEngl.sciEcn'regulated-capitalism-school,

* McsElln.ΘΕΩΡΙΕΣ-ΡΥΘΜΙΣΜΕΝΟΥ-ΚΑΠΙΤΑΛΙΣΜΟΥ,
* McsElln.ΣΧΟΛΗ-ΡΥΘΜΙΣΗΣ-ΚΑΙ-ΠΡΟΓΡΑΜΜΑΤΙΣΜΟΥ-ΤΟΥ-ΚΑΠΙΤΑΛΙΣΜΟΥ,
* McsElln.ΝΕΟΚΛΑΣΣΙΚΗ-ΣΧΟΛΗ-Β'ΓΕΝΙΑΣ,
* McsElln.ΝΕΟΤΕΡΟΙ-ΝΕΟΚΛΑΣΙΚΟΙ,

_GENERIC:
* economics'school.neoclassical#cptEconomy581.33#
* economics'school#cptEconomy581.18#

_DESCRIPTION:
είναι ΑΠΟΨΕΙΣ ΓΙΑ ΤΗΝ ΟΙΚΟΝΟΜΙΑ ...
[hmnSngo.1995-05]
===
"primarily followers of Keynes, but also inclunding the French dirigisters"
[Smirnov et al, 1984, 17#cptResource289#]

sciEcn'school.gen.CAPITALISM.NO

_CREATED: {2011-07-27}

name::
* McsEngl.sciEcn'school.gen.CAPITALISM.NO,
* McsEngl.conceptEconomy581.13,
* McsEngl.conceptEconomy518,
* McsEngl.economics.socialist@cptEconomy518,
* McsEngl.non-capitalist-economics@cptEconomy581.13,
* McsEngl.socialist-political-economy@cptEconomy518,
* McsElln.ΣΟΣΙΑΛΙΣΤΙΚΗ-ΠΟΛΙΤΙΚΗ-ΟΙΚΟΝΟΜΙΑ,

_GENERIC:
* economics'school#cptEconomy581.18#

_DEFINITION:
ΣΟΣΙΑΛΙΣΤΙΚΗ ΠΟΛΙΤΙΚΗ ΟΙΚΟΝΟΜΙΑ είναι ΑΠΟΨΕΙΣ ΟΙΚΟΝΟΜΙΑΣ που θεωρούν σαν καλύτερη οικονομια το 'σοσιαλισμο'.
[ΝΙΚΟΣ, ΜΑΙΟΣ, 1995]

_SPECIFIC:
* ΜΑΡΞΙΣΤΙΚΗ-ΣΧΟΛΗ#cptEconomy208#
* NEW-LEFTS#cptEconomy236#
* ΜΙΚΡΟΑΣΤΙΚΟΣ ΣΟΣΙΑΛΙΣΜΟΣ

sciEcn'school.gen.CLASSICAL

name::
* McsEngl.sciEcn'school.gen.CLASSICAL,
* McsEngl.conceptEconomy152,
* McsEngl.conceptEconomy581.28,
* McsEngl.conceptEconomy152,
* McsEngl.economics.classical@cptEconomy152,
* McsEngl.classical-political-economy@cptEconomy152,
* McsEngl.classical-economists@cptEconomy152,
* McsEngl.CLASSICISTS,
* McsEngl.classicists@cptEconomy152,
* McsEngl.classical-political-economy,
* McsEngl.sciEcn'classical,
====== lagoGreek:
* McsElln.κλασσικά-οικονομικά@cptEconomy152, [Βαρουφάκης; Πολ. Οικ, 2007]
* McsElln.ΚΛΑΣΣΙΚΗ-ΠΟΛΙΤΙΚΗ-ΟΙΚΟΝΟΜΙΑ,
* McsElln.ΚΛΑΣΣΙΚΟΙ@cptEconomy152,

_GENERIC:
* economics'school#cptEconomy581.18#

sciEcn'school.gen.COMPLEXITY

name::
* McsEngl.sciEcn'school.gen.COMPLEXITY,
* McsEngl.conceptEconomy581.4,
* McsEngl.complexity-economics@cptEconomy581.4,

_GENERIC:
* economics'school#cptEconomy581.18#

_DESCRIPTION:
Complexity economics is the application of complexity science to the problems of economics. It studies computer simulations to gain insight into economic dynamics, and avoids the assumption that the economy is a system in equilibrium.[1]
[http://en.wikipedia.org/wiki/Complexity_economics] 2011-07-20
===
Complexity economics is the application of complexity science to the problems of economics. It is one of the four C's of a new paradigm surfacing in the field of economics. The four C's are complexity, chaos, catastrophe and cybernetics. This new mode of economic thought rejects traditional assumptions that imply that the economy is a closed system that eventually reaches an equilibrium. Instead, it views economies as open complex adaptive systems with endogenous evolution. Complex systems do not necessarily settle to equilibrium — even ideal deterministic models may exhibit chaos, which is distinct from both random (nondeterministic) and analytic behavior.[1]
[http://en.wikipedia.org/wiki/Complexity_economics]
===
There has also been renewed interest in understanding economic systems as evolutionary systems in the emerging field of Complexity economics.
[http://en.wikipedia.org/wiki/Economic_system] {2012-11-19}

sciEcn'school.gen.COMPUTATIONAL

name::
* McsEngl.sciEcn'school.gen.COMPUTATIONAL,
* McsEngl.conceptEconomy581.5,
* McsEngl.computational-economics@cptEconomy581.5,

_GENERIC:
* economics'school#cptEconomy581.18#

_DESCRIPTION:
Computational economics is a research discipline in economics and computer science [1]. Areas encompassed under computational economics include agent-based computational modeling, computational econometrics and statistics,[2] computational finance, computational modeling of dynamic macroeconomic systems, of transaction costs, computational tools for the design of automated Internet markets, programming tools specifically designed for computational economics, and pedagogical tools for the teaching of computational economics. Some of these areas are unique to computational economics, while others extend traditional areas of economics by solving problems that are difficult to study without the use of computers.

Computational economics researchers use computational tools both for computational economic modeling and for the computational solution of analytically and statistically formulated economic problems.

For example, with regard to computational modeling tools, Agent-Based Computational Economics (ACE) is the computational study of economic processes modeled as dynamic systems of interacting agents. Here "agent" refers broadly to a bundle of data and behavioral methods representing an entity constituting part of a computationally constructed world. Agents can represent social, biological, and/or physical entities. Starting from initial conditions determined by the modeler, an ACE model develops forward through time driven solely by agent interactions.

With regard to computational solution tools, examples include software for carrying out various matrix operations (e.g. matrix inversion) and for solving systems of linear and nonlinear equations. For a repository of public-domain computational solution tools, visit here.

The following journals specialize in computational economics: Computational Economics, Journal of Applied Econometrics, and the Journal of Economic Dynamics and Control.
[http://en.wikipedia.org/wiki/Computational_economics]
===
Computational economics explores the intersection of economics and computation. These areas include agent-based computational modeling, computational econometrics and statistics, computational finance, computational modeling of dynamic macroeconomic systems, computational tools for the design of automated Internet markets, programming tools specifically designed for computational economics, and pedagogical tools for the teaching of computational economics. Some of these areas are unique to computational economics, while others extend traditional areas of economics to new areas through computational techniques.
[http://comp-econ.org/]

sciEcn'school.gen.ECOLOGICAL

name::
* McsEngl.sciEcn'school.gen.ECOLOGICAL,
* McsEngl.conceptEconomy581.9,
* McsEngl.ecological-economics@cptEconomy581.9,

_GENERIC:
* economics'school#cptEconomy581.18#

_DESCRIPTION:
Ecological economics is a transdisciplinary field of academic research that aims to address the interdependence and coevolution of human economies and natural ecosystems over time and space.[2] It is distinguished from environmental economics, which is the mainstream economic analysis of the environment, by its treatment of the economy as a subsystem of the ecosystem and its emphasis upon preserving natural capital.[3] One survey of German economists found that ecological and environmental economics are different schools of economic thought, with ecological economists emphasizing "strong" sustainability and rejecting the proposition that natural capital can be substituted by human-made capital.[4]

Ecological economics was founded in the works of Kenneth E. Boulding, Nicholas Georgescu-Roegen, Herman Daly, Robert Costanza, and others. The related field of green economics is, in general, a more politically applied form of the subject.[5][6]

The identity of ecological economics as a field has been described as fragile, with no generally accepted theoretical framework and a knowledge structure which is not clearly defined.[7] According to ecological economist Malte Faber, ecological economics is defined by its focus on nature, justice, and time. Issues of intergenerational equity, irreversibility of environmental change, uncertainty of long-term outcomes, and sustainable development guide ecological economic analysis and valuation.[7] Ecological economists have questioned fundamental mainstream economic approaches such as cost-benefit analysis, and the separability of economic values from scientific research, contending that economics is unavoidably normative rather than positive (empirical).[8] Positional analysis, which attempts to incorporate time and justice issues, is proposed as an alternative.[9][10]

Ecological economics includes the study of the metabolism of society, that is, the study of the flows of energy and materials that enter and exit the economic system. This subfield may also be referred to as biophysical economics, bioeconomics, and has links with the applied science of industrial symbiosis. Ecological economics is based on a conceptual model of the economy connected to, and sustained by, a flow of energy, materials, and ecosystem services.[citation needed] Analysts from a variety of disciplines have conducted research on the economy-environment relationship, with concern for energy and material flows and sustainability, environmental quality, and economic development.[citation needed]
[http://en.wikipedia.org/wiki/Ecological_economics]

sciEcn'school.gen.Economy-hknu#cptEconomy323#

name::
* McsEngl.sciEcn'school.gen.Economy-hknu,

sciEcn'school.gen.Economic-Democracy

name::
* McsEngl.sciEcn'school.gen.Economic-Democracy,
* McsEngl.conceptEconomy581.7,
* McsEngl.economic-democracy@cptEconomy581.7,

_GENERIC:
* economics'school#cptEconomy581.18#

_DESCRIPTION:
BATRA: What I said in Chapter 9 is based on the law of social cycles which states that over time social institutions evolve. We see, for example, numerous changes since early history and that each step along the way was better. Thus, for example, Feudalism was better than what preceded it. Capitalism was better than Feudalism. Crony Capitalism, bad as it is, is better in many ways than the earliest capitalism, say during the industrial revolution. Therefore I think the new system will be much better than the current Crony Capitalism. The new system I think will be one of economic democracy, and here again social evolution comes to play that over thousands of years of human evolution, we have discovered political democracy but we have yet to discover economic democracy. On that ladder of evolution, the next step is economic democracy. And once democracy is in the factories and the economic system, we will have a better political democracy as well.
[http://www.usagold.com/taylorbatracrash.html]

sciEcn'school.gen.Evolutionary

name::
* McsEngl.sciEcn'school.gen.Evolutionary,
* McsEngl.conceptEconomy581.3,
* McsEngl.evolutionary-economics@cptEconomy581.3,

=== _NOTES: Thorstein Veblen (1898) coined the term "evolutionary economics" in English.
[http://en.wikipedia.org/wiki/Evolutionary_economics]

_GENERIC:
* economics'school#cptEconomy581.18#

_DESCRIPTION:
Evolutionary economics is part of mainstream economics as well as heterodox school of economic thought that is inspired by evolutionary biology. Much like mainstream economics, it stresses complex interdependencies, competition, growth, structural change, and resource constraints but differs in the approaches which are used to analyze these phenomena (Hodgson 1993).

Evolutionary economics deals with the study of processes that transform economy for firms, institutions, industries, employment, production, trade and growth within, through the actions of diverse agents from experience and interactions, using evolutionary methodology.

Mainstream economic reasoning begins with the postulates of scarcity and rational agents (that is, agents modeled as maximizing their individual welfare), with the "rational choice" for any agent being a straightforward exercise in mathematical optimization. There has been renewed interest in treating economic systems as evolutionary systems in the developing field of Complexity economics.

Evolutionary economics does not take the characteristics of either the objects of choice or of the decision-maker as fixed. Rather its focus is on the non-equilibrium processes that transform the economy from within and their implications. The processes in turn emerge from actions of diverse agents with bounded rationality who may learn from experience and interactions and whose differences contribute to the change. The subject draws on the evolutionary methodology of Charles Darwin and the non-equilibrium economics principle of circular and cumulative causation. It is naturalistic in purging earlier notions of economic change as teleological or necessarily improving the human condition.[1]
[http://en.wikipedia.org/wiki/Evolutionary_economics]

sciEcn'school.gen.EVONOMICS

_CREATED: {2016-01-26}

name::
* McsEngl.sciEcn'school.gen.EVONOMICS,
* McsEngl.evonomics,
* McsEngl.economics.evonomics,

_DESCRIPTION:
ABOUT
We’re a collaborative enterprise of pioneering people and organizations on a mission.

A revolution in economics and business is taking place. Orthodox economics is quickly being replaced by the latest science of human behavior and how social systems work. Evonomics is the home for thinkers who are applying the ground-breaking science to their lives and who want to see their ideas influence society.

GOAL
Our goal is to communicate a new economic paradigm—a synthesis of behavioral, complexity, ecological and evolutionary science—to a general audience and influential individuals and organizations.

CONTACT
Robert Kadar
Founding Editor
robertk@evonomics.com

sciEcn'school.gen.Experimental

name::
* McsEngl.sciEcn'school.gen.Experimental,
* McsEngl.conceptEconomy581.16,
* McsEngl.experimental-economics@cptEconomy581.16,

_GENERIC:
* economics'school#cptEconomy581.18#

Experimental economics is the application of experimental methods to study economic questions. Experiments, including data, are used to test the validity of economic theories and test market mechanisms. Using cash-motivated subjects, economic experiments create real-world incentives to help understand how and why markets and other exchange systems function as they do.

A fundamental aspect of the subject is design of experiments. Experiments may be conducted in the field or in laboratory settings, whether of individual or group behavior.[1][2]

Other variants outside the formal confines of the subject as outlined above include natural and quasi-natural experiments.[3]
[http://en.wikipedia.org/wiki/Experimental_economics]

sciEcn'school.gen.INSTITUTIONAL

name::
* McsEngl.sciEcn'school.gen.INSTITUTIONAL,
* McsEngl.conceptEconomy581.32,
* McsEngl.conceptEconomy206,
* McsEngl.institutional-economics@cptEconomy206,
* McsEngl.INSTITUTIONALISTS,
* McsEngl.institutionalism,
* McsEngl.sciEcn'Institutional-economics@cptEconomy581.32, {2012-05-24}
* McsEngl.views-of-institutional-social-school,
* McsEngl.views.institutional-social-school@cptEconomy206,

* McsElln.ΙΝΣΤΙΤΙΟΥΤΙΟΝΑΛΙΣΤΣ,
* McsElln.ΘΕΣΜΙΚΟΚΟΙΝΩΝΙΚΗ-ΣΧΟΛΗ,

_GENERIC:
* economics'school#cptEconomy581.18#

_WHOLE:
* sympan'societyHuman'science_system'economics#cptCore581#

_DESCRIPTION:
Institutional economics focuses on understanding the role of the evolutionary process and the role of institutions in shaping economic behaviour. Its original focus lay in Thorstein Veblen's instinct-oriented dichotomy between technology on the one side and the "ceremonial" sphere of society on the other. Its name and core elements trace back to a 1919 American Economic Review article by Walton H. Hamilton.[1][2] Institutional economics emphasizes a broader study of institutions and views markets as a result of the complex interaction of these various institutions (e.g. individuals, firms, states, social norms). The earlier tradition continues today as a leading heterodox approach to economics.[3] A significant variant is the new institutional economics from the later 20th century, which integrates later developments of neoclassical economics into the analysis. Law and economics has been a major theme since the publication of the Legal Foundations of Capitalism by John R. Commons in 1924. Behavioral economics is another hallmark of institutional economics based on what is known about psychology and cognitive science, rather than simple assumptions of economic behavior. Critics of institutionalism have maintained that the concept of "institution" is so central for all social science that it is senseless to use it as a buzzword for a particular theoretical school. And as a consequence the elusive meaning of the concept of "institution" has resulted in a bewildering and never-ending dispute about which scholars are "institutionalists" or not—and a similar confusion about what is supposed to be the core of the theory. In other words, institutional economics have become so popular because it means all things to all people, which in the end of the day is the meaning of nothing. Indeed, it can be argued that the term "institutionalists" was misplaced from the very beginning, since Veblen, Hamilton and Ayres were preoccupied with the evolutionary (and "objectifying") forces of technology and institutions had a secondary place within their theories. Institutions were almost a kind of "anti-stuff," their key concern was on technology and not on institutions. Rather than being "institutional," Veblen, Hamilton and Ayres position is anti-institutional.[4]
[http://en.wikipedia.org/wiki/Institutional_economics] 2011-07-20,
===
Η ΘΕΣΜΙΚΟΚΟΙΝΩΝΙΚΗ ΣΧΟΛΗ είναι ΑΠΟΨΕΙΣ ΓΙΑ ΤΗΝ ΟΙΚΟΝΟΜΙΑ ...
[hmnSngo.1995-05]
===
"The sphere of exchange, forms of organization of the market, and moral principles are stressed, so that it is concluded that capitalism can be improved by passing to an orgazised market and perfecting moral and ethical standards"
[Smirnov et al, 1984, 18#cptResource289#]

sciEcn'school.gen.KEYNESIANISM

name::
* McsEngl.sciEcn'school.gen.KEYNESIANISM,
* McsEngl.conceptEconomy581.30,
* McsEngl.conceptEconomy10,
* McsEngl.keynesian-economics@cptEconomy10,
* McsEngl.keynesian-theory@cptEconomy10,
* McsEngl.keynesianism@cptEconomy10,
* McsEngl.keynesianists,
* McsEngl.sciEcn'keynesianism,

* McsElln.ΚΕΥΝΣΙΑΝΙΣΜΟΣ,
* McsElln.ΚΕΥΝΣΙΑΝΙΣΜΟΣ@cptEconomy10,
* McsElln.ΚΕΥΝΣΙΑΝΙΣΤΕΣ,
* McsElln.ΚΕΥΝΣΙΑΝΙΣΤΙΚΗ-ΣΧΟΛΗ,

_GENERIC:
* economics'school#cptEconomy581.18#

_DESCRIPTION:
Keynesian economics ( /'ke?nzi?n/ KAYN-zee-?n; also called Keynesianism and Keynesian theory) is a macroeconomic theory based on the ideas of 20th century English economist John Maynard Keynes. Keynesian economics argues that private sector decisions sometimes lead to inefficient macroeconomic outcomes and therefore advocates active policy responses by the public sector, including monetary policy actions by the central bank and fiscal policy actions by the government to stabilize output over the business cycle.[1] The theories forming the basis of Keynesian economics were first presented in The General Theory of Employment, Interest and Money, published in 1936; the interpretations of Keynes are contentious, and several schools of thought claim his legacy.
[http://en.wikipedia.org/wiki/Keynesian_economics]
===
ΚΕΥΝΣΙΑΝΙΣΜΟΣ είναι ΑΠΟΨΕΙΣ ΓΙΑ ΤΗΝ ΟΙΚΟΝΟΜΙΑ ...
[hmnSngo.1995-05]

sciEcn'school.gen.MAINSTREAM

name::
* McsEngl.sciEcn'school.gen.MAINSTREAM,
* McsEngl.conceptEconomy581.25,
* McsEngl.conventional-economics,
* McsEngl.mainstream-economics,
* McsEngl.orthodox-economics,
* McsEngl.economics'mainstream,
* McsEngl.mainstream-economics@cptEconomy581.25,
* McsEngl.orthodox-economics@cptEconomy581.25,
* McsEngl.conventional-economics@cptEconomy581.25,
====== lagoGreek:
* McsElln.επικρατούσα-οικονομική-επιστήμη@cptCore581.25, {2012-11-28}
* McsElln.συμβατική-οικονομική-επιστήμη@cptCore581.25, {2012-11-28}

_GENERIC:
* economics'school#cptEconomy581.18#

_DESCRIPTION:
Currently, the great majority of economists follow an approach referred to as mainstream economics (sometimes called 'orthodox economics'). Within the mainstream, distinctions can be made between the
- Saltwater school (associated with Berkeley, Harvard, MIT, Pennsylvania, Princeton, and Yale), and the more laissez-faire ideas of the
- Freshwater school (represented by the Chicago school of economics, Carnegie Mellon University, the University of Rochester and the University of Minnesota. Both of these schools are associated with the neoclassical synthesis. Some influential approaches of the past, such as the historical school of economics and institutional economics, have become defunct or have declined in influence, and are now considered heterodox approaches.
[http://en.wikipedia.org/wiki/Schools_of_economic_thought]

Viewpoints within mainstream economics
Mainstream economics encompasses a wide (but not unbounded) range of views. Politically, most mainstream economists hold views ranging from laissez-faire to modern liberalism. There are also divergent views on particular issues within economics, such as the effectiveness and desirability of Keynesian macroeconomic policy. Although, historically, few mainstream economists have regarded themselves as members of a "school", many would identify with one or more of
- neoclassical economics,
- monetarism,
- Keynesian economics,
- new classical economics,
- Austrian School, or
- behavioral economics.
[http://en.wikipedia.org/wiki/Schools_of_economic_thought]

sciEcn'school.gen.MAINSTREAM.NO

name::
* McsEngl.sciEcn'school.gen.MAINSTREAM.NO,
* McsEngl.conceptEconomy581.1,
* McsEngl.economics.heterodox,
* McsEngl.non-mainstream-economics@cptEconomy581.1,
* McsEngl.heterodox-economics@cptEconomy581.1,
* McsEngl.fringe-economics@cptEconomy581.1,
====== lagoGreek:
* McsElln.ανορθόδοξη-οικονομική-επιστήμη@cptEconomy581.1, {2012-11-28}
* McsElln.αντισυμβατική-οικονομική-επιστήμη@cptEconomy581.1, {2012-11-28}
* McsElln.μη-επικρατούσα-οικονομική-επιστήμη@cptEconomy581.1, {2012-11-28}
* McsElln.μη-συμβατική-οικονομική-επιστήμη@cptEconomy581.1, {2012-11-28}
* McsElln.περιθωριακή-οικονομική-επιστήμη@cptEconomy581.1, {2012-11-28}

_GENERIC:
* economics'school#cptEconomy581.18#

_DESCRIPTION:
"Heterodox economics" refers to approaches or to schools of economic thought that are considered outside of "mainstream economics". Mainstream economists sometimes refer to non-mainstream economics as "fringe" economics, asserting that it has little or no influence on the vast majority of academic economists in the English speaking world.[1] "Mainstream economics" is called "orthodox economics" by its critics. "Heterodox economics" is an umbrella term used to cover various approaches, schools, or traditions. These include institutional, post-Keynesian, socialist, Marxian, feminist, Austrian, ecological, and social economics among others.[2][3]

These views may be contrasted with the framework used by the majority of economists, commonly referred to by its supporters as mainstream and by critics as orthodox or conventional. Mainstream economics studies economic phenomena using microeconomic and macroeconomic theory and econometrics.[4]

The International Confederation of Associations for Pluralism in Economics (ICAPE) does not define "heterodox economics" and has avoided defining its scope. ICAPE defines its mission as "promoting pluralism in economics."

In defining a common ground in the "critical commentary," one writer described fellow heterodox economists as trying to do three things: (1) identify shared ideas that generate a pattern of heterodox critique across topics and chapters of introductory macro texts; (2) give special attention to ideas that link methodological differences to policy differences; and (3) characterize the common ground in ways that permit distinct paradigms to develop common differences with textbook economics in different ways.[5]
[http://en.wikipedia.org/wiki/Heterodox_economics]

In 2000 Hodgson co-founded The Other Canon, a center and network for heterodox economics research, with - amongst others - main founder and executive chairman Erik Reinert.[1]
[http://en.wikipedia.org/wiki/Geoffrey_Hodgson]

sciEcn'school.gen.MARXISM

name::
* McsEngl.sciEcn'school.gen.MARXISM,
* McsEngl.conceptEconomy581.29,
* McsEngl.conceptEconomy208,
* McsEngl.sciEcn'Marxism,
* McsEngl.views.marxism@cptEconomy208,
* McsEngl.marxism.economy@cptEconomy208,
* McsEngl.marxian-economics@cptEconomy208,
* McsEngl.marxist-economic-theory,
* McsEngl.marxist-economics@cptEconomy208, {2011-07-27}
* McsEngl.marxists,
* McsEngl.SCIENTIFIC-SOCIALISM,
* McsEngl.views-of-marxism,
* McsEngl.ecnsMarxism@cptEconomy208,

* McsElln.ΔΙΑΛΕΚΤΙΚΗ-ΤΗΣ-ΠΟΛΙΤΙΚΗΣ-ΟΙΚΟΝΟΜΙΑΣ,
* McsElln.ΜΑΡΞΙΣΤΙΚΗ-ΣΧΟΛΗ-ΣΤΗΝ-ΟΙΚΟΝΟΜΙΑ,

_GENERIC:
* economics'school#cptEconomy581.18#
* marxism#cptCore763#

_DESCRIPTION:
Marxian economics refers to economic theories on the functioning of capitalism based on the works of Karl Marx. Adherents of Marxian economics, particularly in academia, distinguish it from Marxism as a political ideology and sociological theory, arguing that Marx's approach to understanding the economy is intellectually independent of his advocacy of revolutionary socialism or his belief in the proletarian revolution.[1][2] Adherents consider Marx's economic theories to be the basis of a viable analytic framework, and an alternative to more conventional neoclassical economics. Marxian economists do not lean entirely upon the works of Marx and other widely-known Marxists; they draw from a range of Marxist and non-Marxist sources.

Marx's major work on political economy was Capital: A Critique of Political Economy (better known by its German title Das Kapital), a three-volume work, of which only the first volume was published in his lifetime (the others were published by Friedrich Engels from Marx's notes). One of Marx's early works, Critique of Political Economy, was mostly incorporated into Capital, especially the beginning of Volume I. Marx's notes made in preparation for writing Capital were published years later under the title Grundrisse.
[http://en.wikipedia.org/wiki/Marxian]
===
είναι ΑΠΟΨΕΙΣ ΓΙΑ ΤΗΝ ΟΙΚΟΝΟΜΙΑ ...
[hmnSngo.1995-05]
===
ΜΑΡΞΙΣΤΙΚΗ ΣΧΟΛΗ ΓΙΑ ΤΗΝ ΟΙΚΟΝΟΜΙΑ
ονομάζω ΚΑΘΕ πληροφορία μαρξιστών για την οικονομία.

sciEcn'school.gen.Mercantilism

name::
* McsEngl.sciEcn'school.gen.Mercantilism,
* McsEngl.conceptEconomy581.22,
* McsEngl.conceptEconomy169,
* McsEngl.mercantilists@cptEconomy169,
* McsEngl.mercantilism@cptEconomy169,
* McsEngl.mercantilists,
* McsEngl.views-of-mercantilism,
* McsEngl.views.mercantilism@cptEconomy169,
* McsElln.ΕΜΠΟΡΟΚΡΑΤΙΚΗ-ΣΧΟΛΗ,
* McsElln.ΜΕΡΚΑΝΤΗΛΙΣΜΟΣ,
* McsElln.ΜΕΡΚΑΝΤΙΛΙΣΜΟΣ@cptEconomy169,
* McsElln.ΜΕΡΚΑΝΤΙΛΙΣΤΕΣ,

_GENERIC:
* economics'school#cptEconomy581.18#

_DESCRIPTION:
Mercantilism is an economic theory that holds the prosperity of a state as dependent upon its supply of capital, that the global volume of international trade is "unchangeable," and that one party may benefit only at the expense of another. "Unchangeable" in this sense may be taken to mean that the European and global economies are seen as zero-sum games, though that economic concept did not yet exist in the mercantilist period. During it, economic assets (or capital) were represented by bullion (gold, silver, and trade value), which was best increased through a positive and healthy balance of trade with other states (exports minus imports).

The theory assumes that wealth and monetary assets are identical. Mercantilism suggests that the ruling government should advance these goals by playing a protectionist role in the economy by encouraging exports and discouraging imports, notably through the use of subsidies and tariffs respectively. The theory dominated Western European economic policies from the 16th to the late-18th century.[1]
[http://en.wikipedia.org/wiki/Mercantilism]
===
ΜΕΡΚΑΝΤΗΛΙΣΜΟΣ είναι ΑΠΟΨΕΙΣ ΓΙΑ ΤΗΝ ΟΙΚΟΝΟΜΙΑ ...
[hmnSngo.1995-05]
===
"ΚΑΤΕΥΘΥΝΣΗ ΤΗΣ ΑΣΤΙΚΗΣ ΠΟΛΙΤΙΚΗΣ ΟΙΚΟΝΟΜΙΑΣ ΚΑΙ ΟΙΚΟΝΟΜΙΚΗ ΠΟΛΙΤΙΚΗ ΤΩΝ ΚΡΑΤΩΝ ΤΗΝ ΕΠΟΧΗ ΤΗΣ ΠΡΩΤΑΡΧΙΚΗΣ ΣΥΣΣΩΡΕΥΣΗΣ ΤΟΥ ΚΕΦΑΛΑΙΟΥ (15ος-18ος ΑΙΩΝΑΣ), ΠΟΥ ΕΚΦΡΑΖΕ ΤΑ ΣΥΜΦΕΡΟΝΤΑ ΤΟΥ ΕΜΠΟΡΙΚΟΥ ΚΕΦΑΛΑΙΟΥ ΟΤΑΝ ΗΤΑΝ ΑΚΟΜΑ ΕΝΩΜΕΝΟ ΜΕ ΤΟ ΒΙΟΜΗΧΑΝΙΚΟ ΚΕΦΑΛΑΙΟ. ΟΙ ΜΕΡΚΑΝΤΙΛΙΣΤΕΣ ΘΕΩΡΟΥΣΑΝ ΟΤΙ ΤΟ ΚΕΡΔΟΣ ΔΗΜΙΟΥΡΓΕΙΤΑΙ ΣΤΗ ΣΦΑΙΡΑ ΤΗΣ ΚΥΚΛΟΦΟΡΙΑΣ ΚΑΙ Ο ΠΛΟΥΤΟΣ ΤΟΥ ΕΘΝΟΥΣ ΣΥΝΙΣΤΑΤΑΙ ΣΤΟ ΧΡΗΜΑ... ΤΟ ΜΕΡΚΑΝΤΙΛΙΣΜΟ, ΣΑΝ ΡΕΥΜΑ ΤΗΣ ΑΣΤΙΚΗΣ ΟΙΚΟΝΟΜΙΚΗΣ ΣΚΕΨΗΣ, ΤΟΝ ΑΝΤΙΚΑΘΙΣΤΑ Η ΦΙΣΙΟΚΡΑΤΙΑ."
[ΛΕΞΙΚΟ ΠΟΛΙΤΙΚΗΣ ΟΙΚΟΝΟΜΙΑΣ 1983, 324#cptResource172#]
===
"The mercantilists, devoted their main attention to the sphere of circulation, and political economy was accordingly treated as the science of the balance of trade, which envisaged an excess of exports over imports".
[Smirnov et al, 1984, 25#cptResource289#]

sciEcn'school.gen.MONETARISM

name::
* McsEngl.sciEcn'school.gen.MONETARISM,
* McsEngl.conceptEconomy581.35,
* McsEngl.conceptEconomy149,
* McsEngl.economics.monetarism@cptEconomy149,
* McsEngl.chicago-school,
* McsEngl.MONETARISTS,
* McsEngl.Monetarism,
* McsEngl.monetarists,
* McsEngl.sciEcn'monetarism,
====== lagoGreek:
* McsElln.ΜΟΝΕΤΑΡΙΣΜΟΣ@cptEconomy149,
* McsElln.ΜΟΝΕΤΑΡΙΣΤΕΣ,

_GENERIC:
* neoliberals#cptEconomy#

_DESCRIPTION:
broadly defined as the view that monetary policy can and should be used to stabilize economies
[http://krugman.blogs.nytimes.com/2016/04/13/why-monetarism-failed/]
===
Monetarism is a macroeconomic school of thought that emphasizes (1) long-run monetary neutrality, (2) short-run monetary nonneutrality, (3) the distinction between real and nominal interest rates, and (4) the role of monetary aggregates in policy analysis. It is particularly associated with the writings of Milton Friedman, Anna Schwartz, Karl Brunner, and Allan Meltzer, with early contributors outside the United States including David Laidler, Michael Parkin, and Alan Walters. Some journalists—especially in the United Kingdom—have used the term to refer to doctrinal support of free-market positions more generally, but that usage is inappropriate; many free-market advocates would not dream of describing themselves as monetarists.
[http://www.econlib.org/library/Enc/Monetarism.html]
===
ΜΟΝΕΤΑΡΙΣΜΟΣ είναι ΑΠΟΨΕΙΣ-ΝΕΟΦΙΛΕΛΕΥΘΕΡΩΝ#cptEconomy205# ...
===
"A modern version of the theory of free enterprise is the monetarism preached by the Chicago School. Its essence is the claim that the main focus of capitalism's instability lies in the monetary sphere, and that regulation of is the way to eliminate disturbances of reproductive process"
[Smirnov et al, 1984, 17/18#cptResource289#]

sciEcn'school.gen.NETWORK-ECONOMICS

_CREATED: {2012-11-20}

name::
* McsEngl.sciEcn'school.gen.NETWORK-ECONOMICS,
* McsEngl.network-economics@cptEconomy, {2012-11-20}

_DESCRIPTION:
Network economics refers to business economics that benefit from the network effect. This is when the value of a good or service increases when others buy the same good or service. Examples are website such as EBay, or iVillage where the community comes together and shares thoughts to help the website become a better business organization.

In sustainability, network economics refers to multiple professionals (architects, designers, or related businesses) all working together to develop sustainable products and technologies. The more companies are involved in environmentally friendly production, the easier and cheaper it becomes to produce new sustainable products. For instance, if no one produces sustainable products, it is difficult and expensive to design a sustainable house with custom materials and technology. But due to network economics, the more industries are involved in creating such products, the easier it is to design an environmentally sustainable building.

Another benefit of network economics in a certain field is improvement that results from competition and networking within an industry.
[http://en.wikipedia.org/wiki/Network_economics]

_ADDRESS.WPG:
* http://www.ft.com/intl/cms/s/2/579ea38c-c699-11e1-963a-00144feabdc0.html#axzz21Yj4LuOa,

sciEcn'school.gen.NEOCLASSICAL

_CREATED: {2012-05-24}

name::
* McsEngl.sciEcn'school.gen.NEOCLASSICAL,
* McsEngl.conceptEconomy581.33,
* McsEngl.neoclassical-economics@cptEconomy581.33,
====== lagoGreek:
* McsElln.νεοκλασικά-οικονομικά@cptEconomy581.33,

_GENERIC:
* economics'school#cptEconomy581.18#

_DESCRIPTION:
Neoclassical economics is a term variously used for approaches to economics focusing on the determination of prices, outputs, and income distributions in markets through supply and demand, often mediated through a hypothesized maximization of utility by income-constrained individuals and of profits by cost-constrained firms employing available information and factors of production, in accordance with rational choice theory.[1] Neoclassical economics dominates microeconomics, and together with Keynesian economics forms the neoclassical synthesis, which dominates mainstream economics today.[2] There have been many critiques of neoclassical economics, often incorporated into newer versions of neoclassical theory as human awareness of economic criteria changes.
The term was originally introduced by Thorstein Veblen in 1900, in his article 'Preconceptions of Economic Science', to distinguish marginalists in the tradition of Alfred Marshall from those in the Austrian School.[3][4]
"No attempt will here be made even to pass a verdict on the relative claims of the recognized two or three main "schools" of theory, beyond the somewhat obvious finding that, for the purpose in hand, the so-called Austrian school is scarcely distinguishable from the neo-classical, unless it be in the different distribution of emphasis. The divergence between the modernized classical views, on the one hand, and the historical and Marxist schools, on the other hand, is wider, so much so, indeed, as to bar out a consideration of the postulates of the latter under the same head of inquiry with the former." - Veblen[5]
It was later used by John Hicks, George Stigler, and others[6] to include the work of Carl Menger, William Stanley Jevons, John Bates Clark and many others.[3] Today it is usually used to refer to mainstream economics, although it has also been used as an umbrella term encompassing a number of other schools of thought,[7] notably excluding institutional economics, various historical schools of economics, and Marxian economics, in addition to various other heterodox approaches to economics.
Neoclassical economics is characterized by several assumptions common to many schools of economic thought. There is not a complete agreement on what is meant by neoclassical economics, and the result is a wide range of neoclassical approaches to various problem areas and domains—ranging from neoclassical theories of labor to neoclassical theories of demographic changes. As expressed by E. Roy Weintraub, neoclassical economics rests on three assumptions, although certain branches of neoclassical theory may have different approaches:[8]
People have rational preferences among outcomes that can be identified and associated with a value.
Individuals maximize utility and firms maximize profits.
People act independently on the basis of full and relevant information.
From these three assumptions, neoclassical economists have built a structure to understand the allocation of scarce resources among alternative ends—in fact understanding such allocation is often considered the definition of economics to neoclassical theorists. Here's how William Stanley Jevons presented "the problem of Economics".
"Given, a certain population, with various needs and powers of production, in possession of certain lands and other sources of material: required, the mode of employing their labour which will maximize the utility of their produce."[9]
From the basic assumptions of neoclassical economics comes a wide range of theories about various areas of economic activity. For example, profit maximization lies behind the neoclassical theory of the firm, while the derivation of demand curves leads to an understanding of consumer goods, and the supply curve allows an analysis of the factors of production. Utility maximization is the source for the neoclassical theory of consumption, the derivation of demand curves for consumer goods, and the derivation of labor supply curves and reservation demand.[10] Market supply and demand are aggregated across firms and individuals. Their interactions determine equilibrium output and price. The market supply and demand for each factor of production is derived analogously to those for market final output to determine equilibrium income and the income distribution. Factor demand incorporates the marginal-productivity relationship of that factor in the output market. [6] [11][12][13]
Neoclassical economics emphasizes equilibria, where equilibria are the solutions of agent maximization problems. Regularities in economies are explained by methodological individualism, the position that economic phenomena can be explained by aggregating over the behavior of agents. The emphasis is on microeconomics. Institutions, which might be considered as prior to and conditioning individual behavior, are de-emphasized. Economic subjectivism accompanies these emphases. See also general equilibrium.
[http://en.wikipedia.org/wiki/Neoclassical_economics]

sciEcn'school.gen.NEOLIBERALISM

name::
* McsEngl.sciEcn'school.gen.NEOLIBERALISM,
* McsEngl.conceptEconomy581.34,
* McsEngl.conceptEconomy205,
* McsEngl.views.neoliberalism@cptEconomy205,
* McsEngl.neoliberalism@cptEconomy205,
* McsEngl.neoliberals@cptEconomy205,
* McsEngl.neoliberals,
* McsEngl.views-of-free-enterprise,
* McsEngl.views-of-neoliberals@cptEconomy205,
====== lagoGreek:
* McsElln.ΝΕΟΦΙΛΕΛΕΥΘΕΡΟΙ,
* McsElln.νεοφιλελευθερισμος@cptEconomy205,
* McsElln.νεοφιλελευθεροι@cptEconomy205,

_GENERIC:
* economics'school#cptEconomy581.18#

_DESCRIPTION:
Neoliberalism is a label for the market-driven[1] approach to economic and social policy based on neoclassical theories of economics that stresses the efficiency of private enterprise, liberalized trade and relatively open markets, and therefore seeks to maximize the role of the private sector in determining the political and economic priorities of the state. The term is almost always used by opponents of the policy.[2][3]
[http://en.wikipedia.org/wiki/Neoliberalism] 2011-07-21
Neoliberalism describes a market-driven[1] approach to economic and social policy based on neoclassical theories of economics that stresses the efficiency of private enterprise, liberalized trade and relatively open markets, and therefore seeks to maximize the role of the private sector in determining the political and economic priorities of the state.
[http://en.wikipedia.org/wiki/Neoliberalism]
===
ΑΠΟΨΕΙΣ ΝΕΟΦΙΛΕΛΕΥΘΕΡΩΝ είναι ΑΠΟΨΕΙΣ ΓΙΑ ΤΗΝ ΟΙΚΟΝΟΜΙΑ ...
[hmnSngo.1995-05]
===
The best-known spokesmen of this trend are the economists of
- the Chicago school, above all Milton Friedman in the USA,
- the economists of the London School of Economics in Great Britain, and
- the neoliberals in West Germany.
[Smirnov et al, 1984, 17#cptResource289#]

sciEcn'school.gen.NEOMERCANTILISM

_CREATED: {2013-01-19}

name::
* McsEngl.sciEcn'school.gen.NEOMERCANTILISM,
* McsEngl.conceptEconomy581.48,
* McsEngl.neo-mercantilism@cptEconomy581.48, {2013-01-19}
* McsEngl.neomercantilism@cptEconomy581.48, {2013-01-19}

_DESCRIPTION:
Neomercantilism is a policy regime that encourages exports, discourages imports, controls capital movement, and centralizes currency decisions in the hands of a central government. The objective of neo-mercantilist policies is to increase the level of foreign reserves held by the government, allowing more effective monetary policy and fiscal policy.
This is generally believed to come at the cost of lower standards of living than an open economy would bring at the same time, but offers the advantages to the government in question of having greater autonomy and control. China, Japan and Singapore are described as neo-mercantilist. It is called "neo-" because of the change in emphasis from classical mercantilism on military development, to economic development, and its acceptance of a greater level of market determination of prices internally than was true of classical mercantilism.
Its policy recommendations sometimes echo the mercantilism of the early modern period. These are generally protectionist measures in the form of high tariffs and other import restrictions to protect domestic industries combined with government intervention to promote industrial growth, especially manufacturing. At its simplest level, it proposes that economic independence and self-sufficiency are legitimate objectives for a nation to pursue, and systems of protection are justified to allow the nation to develop its industrial and commercial infrastructure to the point where it can compete on equal terms in international trade. In macro-economic terms, it emphasizes a fixed currency and autonomy over monetary policy over capital mobility.
[http://en.wikipedia.org/wiki/Neo-mercantilism]

sciEcn'school.gen.New-classical-economics

name::
* McsEngl.sciEcn'school.gen.New-classical-economics,
* McsEngl.conceptEconomy581.40,
* McsEngl.conceptEconomy521,
* McsEngl.economics.new-classical@cptEconomy521,
* McsEngl.new-classical-economics@cptEconomy521,

_DESCRIPTION:
New classical macroeconomics, sometimes simply called new classical economics, is a school of thought in macroeconomics that builds its analysis entirely on neoclassical framework. Specifically, it emphasizes the importance of rigorous foundations based on microeconomics. Macroeconomic model is built in analogy to the actions of individual agents, whose behavior is modeled in microeconomics.

New classical macroeconomics strives to provide neoclassical microeconomic foundations for macroeconomic analysis. This is in contrast with its rival new Keynesian school that uses microfoundations such as price stickiness and imperfect competition to generate macroeconomic models similar to earlier, Keynesian ones.
[http://en.wikipedia.org/wiki/New_classical_macroeconomics]

sciEcn'school.gen.New-lefts

name::
* McsEngl.sciEcn'school.gen.New-lefts,
* McsEngl.conceptEconomy581.14,
* McsEngl.conceptEconomy236,
* McsEngl.new-lefts@cptEconomy236,
* McsEngl.new-lefts,

* McsElln.ΝΕΟΑΡΙΣΤΕΡΟΙ,

_GENERIC:
* economics'school#cptEconomy581.18#

_DESCRIPTION:
είναι ΑΠΟΨΕΙΣ ΓΙΑ ΤΗΝ ΟΙΚΟΝΟΜΙΑ ...
[hmnSngo.1995-05]
===
"The New Lefts, unlike the bourgeois reformists who look for a way out in implementing reforms while retainging the basis of the capitalist system, call for its full demolition. Their ideal is a decentralised co-operative society with a hierarchical structure in the spirit of the theories of Fourier, Proudhon, and Owen."
[Smirnov et al, 1984, 22#cptResource289#]
===
The New Left was a term used mainly in the United Kingdom and United States in reference to activists, educators, agitators and others in the 1960s and 1970s who sought to implement a broad range of reforms, in contrast to earlier leftist or Marxist movements that had taken a more vanguardist approach to social justice and focused mostly on labor unionization and questions of social class.[2]
In the U.S., the "New Left" was associated with the Hippie movement and college campus protest movements. The British "New Left" sought to correct the perceived errors of "Old Left" parties in the post–World War II period.
[http://en.wikipedia.org/wiki/New_Left]

sciEcn'school.gen.Physiocrats

name::
* McsEngl.sciEcn'school.gen.Physiocrats,
* McsEngl.conceptEconomy581.38,
* McsEngl.conceptEconomy460,
* McsEngl.physiocracy@cptEconomy460,
* McsEngl.physiocrats@cptEconomy460,
* McsEngl.sciEcn'physiocrats,
* McsElln.ΑΠΟΨΕΙΣ'ΦΥΣΙΟΚΡΑΤΩΝ@cptEconomy460,
* McsElln.ΑΠΟΨΕΙΣ-ΦΥΣΙΟΚΡΑΤΩΝ,
* McsElln.ΦΥΣΙΟΚΡΑΤΕΣ@cptEconomy460,
* McsElln.ΦΥΣΙΟΚΡΑΤΙΚΗ-ΣΧΟΛΗ,

_GENERIC:
* economics'school#cptEconomy581.18#

_DESCRIPTION:
Physiocracy (from the Greek for "Government of Nature") is an economic theory developed by the Physiocrats, a group of economists who believed that the wealth of nations was derived solely from the value of "land agriculture" or "land development." Their theories originated in France and were most popular during the second half of the 18th century. Physiocracy is perhaps the first well-developed theory of economics.

The movement was particularly dominated by Anne-Robert-Jacques Turgot (1727–1781) and Franηois Quesnay (1694–1774).[1] It immediately preceded the first modern school, classical economics, which began with the publication of Adam Smith's The Wealth of Nations in 1776.

The most significant contribution of the Physiocrats was their emphasis on productive work as the source of national wealth. This is in contrast to earlier schools, in particular mercantilism, which often focused on the ruler's wealth, accumulation of gold, or the balance of trade. A chief weakness from the viewpoint of modern economics is that the theory only considered agricultural labor to be valuable. Physiocrats viewed the production of goods and services as consumption of the agricultural surplus, while modern economists consider these to be productive activities which add to national income.

Historian David B. Danbom explains, "The Physiocrats damned cities for their artificiality and praised more natural styles of living. They celebrated farmers."[2] They called themselves ιconomistes, but are generally referred to as physiocrats in order to distinguish them from the many schools of economic thought that followed them.
[http://en.wikipedia.org/wiki/Physiocracy]
===
είναι ΑΠΟΨΕΙΣ ΓΙΑ ΤΗΝ ΟΙΚΟΝΟΜΙΑ ...
[hmnSngo.1995-05]
===
Οι φυσιοκράτες χώρισαν την οικονομία σε δυό βασικούς τομείς δηλαδή ΓΕΩΡΓΙΑ και ΕΜΠΟΡΙΟ-ΜΕΤΑΠΟΙΗΣΗ και έδωσαν προτεραιότητα στον πρώτο.
Σ'αυτό το πλαίσιο επινόησαν ποσοτικές μεθόδους, όπως το διάσημο "Οικονομικό Πίνακα" του Quesney που αργότερα θεωρήθηκε σαν ο πρόγονος της ανάλυσης εισροών-εκροών.
[ΒΕΝΕΡΗΣ, 1986, 195#cptResource156#]

sciEcn'school.gen.Radical-political-economy

name::
* McsEngl.sciEcn'school.gen.Radical-political-economy,
* McsEngl.conceptEconomy581.36,
* McsEngl.conceptEconomy235,
* McsEngl.radical-political-economy,
* McsEngl.sciEcn'radical-political-economy,
* McsElln.ΡΙΖΟΣΠΑΣΤΙΚΗ-ΣΧΟΛΗ,

_GENERIC:
* economics'school#cptEconomy581.18#

_DESCRIPTION:
είναι ΑΠΟΨΕΙΣ ΓΙΑ ΤΗΝ ΟΙΚΟΝΟΜΙΑ ...
[hmnSngo.1995-05]
===
"Radical political economy, which arose in the mid-60s and became particularly popular in the USA, is a comparatively new tred in the economic VIEWS of capitalist society. Its spokesmen are the American economist
 Donald Gordon,
 Earl B. Hunt, and
 Howard Sherman
... On the whole, radical political economy occupies a position intermediate between capitalist and proletarian political economy"
[Smirnov et al, 1984, 21#cptResource289#]

sciEcn'school.gen.TECHNOCRATS

name::
* McsEngl.sciEcn'school.gen.TECHNOCRATS,
* McsEngl.conceptEconomy581.37,
* McsEngl.conceptEconomy9,
* McsEngl.views.technocrats@cptEconomy9,
* McsEngl.sciEcn'technocrats,
* McsEngl.technocrats@cptEconomy9,

* McsElln.ΤΕΧΝΟΚΡΑΤΕΣ,
* McsElln.ΤΕΧΝΟΚΡΑΤΙΚΗ-ΣΧΟΛΗ,

_GENERIC:
* economics'school#cptEconomy581.18#

_DESCRIPTION:
ΑΓΝΟΩΝΤΑΣ ΤΙΣ ΠΑΡΑΓΩΓΙΚΕΣ ΣΧΕΣΕΙΣ ΣΤΗΝ ΟΙΚΟΝΟΜΙΑ Ο ΜΠΕΜΠΛΕΝ ΘΕΩΡΕΙ ΤΗΝ ΠΡΟΟΔΟ ΤΗΣ ΤΕΧΝΙΚΗΣ ΒΑΣΙΚΟ ΚΑΙ ΜΟΝΑΔΙΚΟ ΚΙΝΗΤΗΡΑ ΤΗΣ ΙΣΤΟΡΙΑΣ.
ΣΑΝ ΚΥΡΙΑ ΔΥΝΑΜΗ ΤΗΣ ΠΑΡΑΓΩΓΗΣ ΚΑΙ ΤΗΣ ΚΟΙΝΩΝΙΚΗΣ ΠΡΟΟΔΟΥ ΘΕΩΡΕΙ ΤΗΝ ΤΕΧΝΙΚΗ ΔΙΑΝΟΗΣΗ, ΤΟΥΣ ΜΗΧΑΝΙΚΟΥΣ ΚΑΙ ΤΟΥΣ ΤΕΧΝΙΚΟΥΣ.
[ΜΕΤΣΕΦ, 1978, 302#cptResource124#]

sciEcn'school.ind.Heyek

_CREATED: {1899-1992}

name::
* McsEngl.sciEcn'school.ind.Heyek,
* McsEngl.economy.Heyek@cptEconomy581i, {2012-04-03}

_GENERIC:
* economics'school#cptEconomy581.18#

_DESCRIPTION:
Friedrich August Hayek CH (8 May 1899 – 23 March 1992), born Friedrich August von Hayek, was an Austrian-born economist and philosopher best known for his defense of classical liberalism and free-market capitalism against socialist and collectivist thought. He is considered to be one of the most important economists and political philosophers of the twentieth century, winning the Nobel Memorial Prize in Economic Sciences in 1974. Along with his mentor Ludwig von Mises, he was an important contributor to the Austrian school of political economy.[1] Hayek's account of how changing prices communicate signals which enable individuals to coordinate their plans is widely regarded as an important achievement in economics.[2] Hayek also produced significant work in the fields of systems thinking, jurisprudence, neuroscience and the history of ideas.

Hayek served in World War I, and said that his experience in the war and his desire to help avoid the mistakes that had led to the war (see below) led him to his career. He took his first position in 1927, the same year that Joseph Stalin consolidated his power in the Soviet Union by expelling Leon Trotsky from the Communist Party. That same decade, communist rebellions took place in several countries in Europe. A different form of totalitarianism, fascism, was at the same time rising in Germany and Italy. Additionally, the Great Depression began in 1929, at the very start of Hayek's career.

In 1974 Hayek shared the Nobel Memorial Prize in Economics (with Swedish economist Gunnar Myrdal) for his "pioneering work in the theory of money and economic fluctuations and [his] penetrating analysis of the interdependence of economic, social and institutional phenomena."[3] He also received the U.S. Presidential Medal of Freedom in 1991 from president George H. W. Bush.[4]

Hayek lived in Austria, Great Britain, the United States and Germany, and became a British subject in 1938. He spent most of his academic life at the London School of Economics (LSE), the University of Chicago, and the University of Freiburg.
[http://en.wikipedia.org/wiki/Friedrich_August_Hayek]

sciEcn'school.ind.Keynes

_CREATED: {1883-1946}

name::
* McsEngl.sciEcn'school.ind.Keynes,
* McsEngl.conceptEconomy581.19,
* McsEngl.economy.keynes@cptEconomy581.19, {2012-04-03}
* McsEngl.Keynes'economy@cptEconomy581.19, {2012-04-02}
* McsEngl.Keynes-economics@cptEconomy581.19, {2012-04-02}
* McsEngl.view.Keynes@cptEconomy581.19,
* McsEngl.views-of-Keynes@cptEconomy581i,

_GENERIC:
* economics'school#cptEconomy581.18#

_WHOLE:
* Keynes#cptHuman85#

_DESCRIPTION:
John Maynard Keynes, 1st Baron Keynes ( /'ke?nz/ KAYN-z; 5 June 1883 – 21 April 1946), CB, was a British economist whose ideas have profoundly affected the theory and practice of modern macroeconomics, as well as the economic policies of governments. He greatly refined earlier work on the causes of business cycles, and advocated the use of fiscal and monetary measures to mitigate the adverse effects of economic recessions and depressions. His ideas are the basis for the school of thought known as Keynesian economics, as well as its various offshoots.

In the 1930s, Keynes spearheaded a revolution in economic thinking, overturning the older ideas of neoclassical economics that held that free markets would in the short to medium term automatically provide full employment, as long as workers were flexible in their wage demands. Keynes instead argued that aggregate demand determined the overall level of economic activity, and that inadequate aggregate demand could lead to prolonged periods of high unemployment. Following the outbreak of World War II, Keynes's ideas concerning economic policy were adopted by leading Western economies. During the 1950s and 1960s, the success of Keynesian economics resulted in almost all capitalist governments adopting its policy recommendations, promoting the cause of social liberalism.

Keynes's influence waned in the 1970s, partly as a result of problems that began to afflict the Anglo-American economies from the start of the decade, and partly because of critiques from Milton Friedman and other economists who were pessimistic about the ability of governments to regulate the business cycle with fiscal policy.[1] However, the advent of the global financial crisis in 2007 has caused a resurgence in Keynesian thought. Keynesian economics has provided the theoretical underpinning for economic policies undertaken in response to the crisis by Presidents George W. Bush and Barack Obama of the United States, Prime Minister Gordon Brown of the United Kingdom, and other global leaders.[2]

Keynes is widely considered to be the father of modern macroeconomics, and by various commentators such as economist John Sloman, the most influential economist of the 20th century.[3][4][5] In 1999, Time magazine included Keynes in their list of the 100 most important and influential people of the 20th century, commenting that; "His radical idea that governments should spend money they don't have may have saved capitalism".[6] In addition to being an economist, Keynes was also a civil servant, a director of the Bank of England, a patron of the arts and an art collector, a part of the Bloomsbury Group of intellectuals,[7] an advisor to several charitable trusts, a writer, a private investor, and a farmer. In 1925, he married the Russian ballerina Lydia Lopokova but had no children.[8][9][10]
[http://en.wikipedia.org/wiki/Keynes]

sciEcn'school.ind.Klein.Lawrence.Rebert (1920-)

name::
* McsEngl.sciEcn'school.ind.Klein.Lawrence.Rebert (1920-),
* McsEngl.economy.klein@cptEconomy581i, {2012-04-03}

_GENERIC:
* economics'school#cptEconomy581.18#

Lawrence Robert Klein (born September 14, 1920) is an American economist. For his work in creating computer models to forecast economic trends in the field of econometrics at the Wharton School of the University of Pennsylvania, he was awarded the Nobel Memorial Prize in Economic Sciences in 1980. Specifically "for the creation of economic models and their application to the analysis of economic fluctuations and economic policies." Due to his efforts, such models have become widespread among economists.
[http://en.wikipedia.org/wiki/Lawrence_Klein]

sciEcn'school.ind.Schumpeter (1883-1950)

name::
* McsEngl.sciEcn'school.ind.Schumpeter (1883-1950),
* McsEngl.conceptEconomy581.2,
* McsEngl.economy.schumpeter@cptEconomy581.2, {2012-04-03}
* McsEngl.views.Schumpeter@cptEconomy581.2,

_GENERIC:
* economics'school#cptEconomy581.18#

sciEcn'school.ind.Marx (1818-1883)

name::
* McsEngl.sciEcn'school.ind.Marx (1818-1883),
* McsEngl.conceptEconomy581.6,
* McsEngl.economy.marx@cptEconomy581.6, {2012-04-03}
* McsEngl.view.marx@cptEconomy581.6,
* McsEngl.views-of-marx@cptEconomy581.6,
* McsEngl.marx'economy@cptEconomy581.6,
* McsEngl.marx-economics@cptEconomy581.6,

_GENERIC:
* economics'school#cptEconomy581.18#

_WHOLE:
* Marx#cptHuman60#

sciEcn'school.ind.Marshall (1842-1924)#cptHuman69#

name::
* McsEngl.sciEcn'school.ind.Marshall (1842-1924),
* McsEngl.economy.marhall@cptEconomy581i, {2012-04-03}
* McsEngl.views-of-Marshall@cptEconomy581i,

_GENERIC:
* economics'school#cptEconomy581.18#

_DESCRIPTION:
Alfred Marshall (born 26 July 1842 in Bermondsey, London, England, died 13 July 1924 in Cambridge, England) was an Englishman and one of the most influential economists of his time. His book, Principles of Economics (1890), was the dominant economic textbook in England for many years. It brings the ideas of supply and demand, marginal utility and costs of production into a coherent whole. He is known as one of the founders of neoclassical economics.
[http://en.wikipedia.org/wiki/Alfred_Marshall]
===
ΑΠΟ ΤΗ ΜΙΑ ΠΛΕΥΡΑ έκανε προσπάθειες να καθιερώσει την τάση της υποκειμενικής ερμηνείας των οικονομικών φαινομένων ΚΑΙ ΑΠΟ ΤΗΝ ΑΛΛΗ να εξετάσει αρκετά περιεκτικά τα προβλήματα της καπιταλιστικής οικονομίας.
... Οι αντιλήψεις του εμφανίζονται τη ΔΕΚΑΕΤΙΑ '1920 που με καθοριστικά βήματα σπρώχνουν την αγγλική πολιτική οικονομία στο δρόμο του εκχυδαϊσμού.
[ΜΕΤΣΕΦ, 1978, 58#cptResource124#]
===
Αφετηριακό σημείο των αντιλήψεών του αποτελούν οι ανάγκες (ζήτηση).
[ΜΕΤΣΕΦ, 1978, 59#cptResource124#]

sciEcn'school.ind.Say (1767-1832)#cptHuman43#

name::
* McsEngl.sciEcn'school.ind.Say (1767-1832),
* McsEngl.economy.say@cptEconomy581i, {2012-04-03}

_GENERIC:
* economics'school#cptEconomy581.18#

_DESCRIPTION:
Jean-Baptiste Say (5 January 1767 – 15 November 1832) was a French economist and businessman. He had classically liberal views and argued in favor of competition, free trade, and lifting restraints on business. He is best known due to Say's Law, which is named after him and at times credited to him, but while he discussed and popularized it, he did not originate it.
[http://en.wikipedia.org/wiki/Jean-Baptiste_Say]

sciEcn'school.ind.Tinbergen (1903-1994)

name::
* McsEngl.sciEcn'school.ind.Tinbergen (1903-1994),
* McsEngl.economy.tinbergen@cptEconomy581i, {2012-04-03}

_GENERIC:
* economics'school#cptEconomy581.18#

_DESCRIPTION:
Jan Tinbergen (April 12, 1903 – June 9, 1994), is a Dutch economist. He was awarded the first Bank of Sweden Prize in Economic Sciences in Memory of Alfred Nobel in 1969, which he shared with Ragnar Frisch for having developed and applied dynamic models for the analysis of economic processes. Tinbergen was a founding trustee of Economists for Peace and Security.
...
Tinbergen developed the first national comprehensive macroeconomic model, which he first developed for the Netherlands and later applied to the United States and the United Kingdom after World War II.
[http://en.wikipedia.org/wiki/Jan_Tinbergen]

sciEcn'theory

name::
* McsEngl.sciEcn'theory,

sciEcn'theory.TOXIC

name::
* McsEngl.sciEcn'theory.TOXIC,

_DESCRIPTION:
Professor Fama’s ‘Nobel’ Prize toxic theory explained

15
OCT
Readers have requested a summary of the Efficient Market Hypothesis, which is in the news again as a result of the ‘Nobel’ Prize award to Professor Eugene Fama – see this instant reaction on the matter). In what follows the reader can peruse very brief presentations of the triad of toxic theories that undermined macroeconomic logic and helped legitimise the practices that contributed no end to the Crash of 2008. They are: the Rational Expectations Hypothesis, Eugene Fama’s Efficient Market Hypothesis and the so-called Real Business Cycle Theory…

[The desciription below is an extract from Chapter 1 of my Global Minoatur]

The type of economics which dominated the thinking of influential people (in the banking sector, the hedge funds, the Fed, the ECB, everywhere) was no more than a thinly veiled form of intellectual fraud which provided the ‘scientific’ fig leaf behind which Wall Street tried to hide the truth about its ‘financial innovations’. They came with impressive names such as the Efficient Market Hypothesis (EMH), the Rational Expectations Hypothesis (REH), Real Business Cycle Theory (RBCT). In truth, they were no more than impressively marketed theories whose mathematical complexity succeeded for too long in hiding their feebleness.

Three toxic theories underpinning pre-2008 Establishment Thinking

EMH: No one can systematically make money by second-guessing the market. Why? Because financial markets contrive to ensure that current prices reveal all the privately known information that there is. Some market players overreact to new information, others under-react. Thus, even when everyone errs, the market gets it ‘right’. A pure Panglossian theory!

REH: No one should expect a theory of human action to predict well in the long run if it presupposes that humans systematically misunderstand that very theory. No doubt, this sounds radically anti-patronising. It assumes that not much light can be shed on society by theorists who believe they understand its ways better than Joe Blog. But note the sting in the tail: For REH to hold, it must be true that people’s errors (when they predict some economic variable, e.g. inflation, wheat prices, the price of some derivative or share) must always be random; i.e. un-patterned, uncorrelated, untheorisable. It only takes a moment’s reflection to see that the espousal of REH, especially when taken together with EMH, is tantamount to never expecting recessions, let alone crises. Why? Because recessions are, by definition, systematic, patterned events. However surprising when they hit, they unfold in a patterned manner, each of its phases being highly correlated with what preceded it. So, how does a believer in EMH-REH respond when her eyes and ears scream to her brain: Recession, Crash, Meltdown? The answer is: By turning to RBCT for a comforting explanation.

RBCT: Taking EMH and REH as its starting point, the theory portrays capitalism like a well-functioning Gaia. Left alone, it will remain harmonious and never go into a spasm (like that of 2008). However, it may well be ‘attacked’ by some ‘exogenous’ shock (coming from a meddling government, a wayward Fed, heinous trades unions, Arab oil producers, aliens, etc.) to which it must respond and adapt. Like a benevolent Gaia reacting to a large meteor crashing into it, capitalism reacts efficiently to exogenous shocks. It may take a while for the shockwaves to be absorbed, and there may be many victims in the process but, nonetheless, the best way of handling the crisis is by letting capitalism get on with it, without being subjected to new shocks administered by self-interested government officials and their fellow travellers (who pretend to be standing up for the common good in order to further their own agendas).

To sum up, toxic derivatives were underpinned by toxic economics which, in turn, were no more than motivated delusions in search of theoretical justification; fundamentalist tracts that acknowledged facts only when they could be accommodated to the demands of the lucrative faith. Despite their highly impressive labels and technical appearance, economic models were merely mathematised versions of the touching superstition that markets know best, both at times of tranquillity and in periods of tumult.
[http://yanisvaroufakis.eu/2013/10/15/professor-famas-nobel-prize-toxic-theory-explained/]
===
15 Οκτωβρίου 2013
Νόμπελ Οικονομικών Σχόλια
Γιάνης Βαρουφάκης Γιάνης Βαρουφάκης
Το Νόμπελ της ντροπής, Νο.2

Τέτοια εποχή, πριν τρία χρόνια, έκανε την εμφάνισή του, εδώ στο protagon, το πρώτο άρθρο με τον σημερινό τίτλο: Το «Νόμπελ» της Ντροπής. (1) Η εισαγωγική παράγραφος έλεγε τα εξής, τα οποία αναπαράγω καθώς ισχύουν απολύτως και ως προς το φετινό «Νόμπελ» Οικονομικών το οποίο μόλις απενεμήθη:

«Φανταστείτε ότι μια επιδημία βαριάς φυματίωσης έχει ξεσπάσει σε όλο τον κόσμο. Τώρα σκεφτείτε τι θα γινόταν αν, την ίδια χρονιά που τα θύματά της πολλαπλασιάζονται, η επιτροπή Νόμπελ αποφάσιζε να απονείμει το βραβείο ιατρικής σε τρεις επιδημιολόγους που όχι μόνο αγνοούσαν τη φυματίωση σε όλη τους την καριέρα, αλλά και που συστηματικά απέκλειαν την πιθανότητα να επιστρέψει η φυματίωση ως επιδημία. Φαντάζομαι να συμφωνείτε ότι ένα τέτοιο Νόμπελ, εν μέσω κρίσης, θα εξόργιζε όλους. Κι όμως, μια τέτοια ανακοίνωση έγινε την περασμένη εβδομάδα αλλά κατακραυγή καμία.»

Οι φετινοί νικητές του πολύκροτου βραβείου είναι οι κύριοι Eugene Fama και Lars Peter Hansen, του Πανεπιστημίου (και της λεγόμενης Σχολής) του Σικάγο, και ο Robert Shiller του Πανεπιστημίου του Yale. Το ότι ο κ. Fama (και σε μικρότερο βαθμό ο κ. Hansen) κρίθηκε κατάλληλος για αυτή τη μέγιστη τιμητική διάκριση ενισχύει τα μέγιστα το συμπέρασμα του άρθρου εκείνου που πρωτοεμφανίστηκε σε τούτες εδώ τις σελίδες τον Οκτώβριο του 2010:

«Ίσως ποτέ στην ιστορία του ανθρώπινου πνεύματος δεν έχει οικοδομηθεί ένας τέτοιος ιδεολογικός και θεωρητικός θρίαμβος στη βάση μιας τεράστιας αλυσίδας θεωρητικών αποτυχιών, όπως αυτές των σύγχρονων οικονομολόγων. Δεδομένου ότι το Νόμπελ ακόμα συμβολίζει την επιστημονική συμβολή στην επίλυση (και όχι στην ενίσχυση και πολλαπλασιασμό) βασικών προβλημάτων της ανθρωπότητας, μία λύση υπάρχει: η άμεση κατάργηση του Νόμπελ Οικονομικών.»

Πράγματι, η επιλογή του κ. Fama αποτελεί μέγιστη πρόκληση απέναντι τόσο στα θύματα του Κραχ του 2008 (και της Κρίσης που ακολούθησε, και η οποία τυραννά και την Ελλάδα σήμερα) όσο και απέναντι σε κάθε λογικά σκεπτόμενο άνθρωπο. Κι αυτό επειδή ο κ. Fama ήταν ο άνθρωπος που έδωσε στη Wall Street, και στους λοιπούς τραπεζίτες, τη θεωρητική και «επιστημονική» νομιμοποίηση (κάλυψη δηλαδή) να προβούν στα έκτροπα που οδήγησαν στο Κραχ. Με τις έξυπνες θεωρητικές του διατυπώσεις δημιούργησε την ψευδαίσθηση ότι οι αγορές πάντα και παντού δίνουν τις «σωστές» τιμές στους χάρτινους τίτλους. Με άλλα λόγια, απέκλεισε το ενδεχόμενο οι αγορές να δημιουργήσουν φούσκες των οποίων το σκάσιμο να προκαλέσει μια κρίση. Με απλά λόγια, ήταν ο θεωρητικός που εξόπλισε το χέρι της Wall Street με το όπλο που σκότωσε τα όνειρα μιας γενιάς. Χτες, εν την σοφία της, η Τράπεζα της Σουηδίας απεφάνθη ότι ο κύριος αυτός πρέπει να τιμηθεί με «Νόμπελ». Τι να πει κανείς...

Ως απόδειξη ότι η εν λόγω επιτροπή αποτελείται από εκλέκτορες που δεν είναι μόνο ανόητοι αλλά είναι και δειλοί, δεν τόλμησαν να δώσουν το βραβείο μόνο στον κ. Fama και στον συνάδελφό του από το Σικάγο ο οποίος κινείτο λίγο πολύ εντός της «γραμμής» Fama (τον κ. Hansen). Φοβούμενοι την εύλογη κατακραυγή, προσέθεσαν και τρίτο νικητή στο φετινό βραβείο: τον εξαιρετικό καθηγητή του Yale Robert Shiller – έναν άνθρωπο ο οποίος μέρα-νύχτα πασχίζει (και καταφέρνει) να αποδείξει, με στατιστικά και θεωρητικά εργαλεία, πόσο επικίνδυνη είναι η θεωρία του... κ. Fama. (Ο Shiller έγινε γνωστός φέρνοντας στο φως τη συχνότητα με την οποία η θεωρία του κ. Fama ανατρέπεται από την πραγματικότητα.)

Θα πει κάποιος: Γιατί δεν επικροτείς το γεγονός ότι η επιτροπή έδειξε αμεροληψία, βραβεύοντας και τον κ. Fama και τον κ. Shiller; Επειδή, αγαπητέ αναγνώστη, εδώ δεν πρόκειται για δύο επιστήμονες με μια εύλογη, δημιουργική και ενδιαφέρουσα διαφωνία. Εδώ έχουμε μια περίπτωση ανάλογη με την υποθετική απονομή του Νόμπελ Φυσικής τόσο στον Γαλιλαίο όσο και στον Ιεροεξεταστή που τον καταδίκασε.

Κλείνοντας, για όσους ενδιαφέρονται για την ουσία της «Θεωρία των Αποτελεσματικών Αγορών» για την οποία εισέπραξε το «Νόμπελ» ο κ. Fama, ακολουθεί η παρουσίαση των τριών αλληλένδετων τοξικών θεωριών οι οποίες, προ του 2008, νομιμοποίησαν θεωρητικά το ξεχαρβάλωμα όλων των κανόνων που, έως το 1998, έθεταν όρια στην ασυδοσία των τραπεζιτών. Οι τρεις αυτές τοξικές θεωρίες είναι: Η «Θεωρία Ορθολογικών Προσδοκιών», η Θεωρία των Αποτελεσματικών Αγορών» του κ. Fama και, τέλος, η «Θεωρία των Πραγματικών Οικονομικών Κύκλων».

ΠΑΡΑΡΤΗΜΑ: Τρεις τοξικές θεωρίες (2)

Θεωρία 1η: Η Υπόθεση Ορθολογικών Προσδοκιών - ΥΠΟ (3)

Έστω μια θεωρία Θ που αφορά τους κανόνες που διέπουν τις δικές μας πράξεις και τις πράξεις των ανταγωνιστών μας. Η ΥΠΟ λέει το εξής απλό: Απορρίπτουμε τη Θ εφόσον η ακρίβειά της βασίζεται στην υπόθεση ότι κάποιοι από εμάς θα συμπεριφέρονται αντίθετα από τους κανόνες που, σύμφωνα με τη Θ, διέπουν (ή θα έπρεπε να διέπουν) τις πράξεις μας! Με άλλα, πιο απλά, λόγια, απορρίπτονται όλες οι θεωρίες που υποτιμούν τη δυνατότητα κάποιων ανθρώπων (των οποίων τη συμπεριφορά εξηγούν) να τις κατανοούν και να τις εκμεταλλεύονται για ίδιον όφελος.

Επειδή αυτό ακούγεται πολύ περίπλοκο, ένα παράδειγμα είναι αναγκαίο: Ας πάρουμε τη θεωρία Θ που εξηγεί πώς μπλοφάρουν οι καλοί παίκτες στην πόκα (ή σε οποιοδήποτε χαρτοπαίγνιο ή, γιατί όχι, στο Χρηματιστήριο). Προσέξτε γιατί η Θ αναγκαστικά πρέπει να υποθέτει ότι οι περισσότεροι παίκτες δεν γνωρίζουν τη Θ: Έστω ότι σε μια παρτίδα πόκας η Θ μου λέει ότι πρέπει να μπλοφάρω. Για να είναι σοφή αυτή η συμβουλή, δεν πρέπει να γνωρίζει ο αντίπαλός μου ότι αυτό με συμβούλεψε η Θ (καθώς αν το γνώριζε θα ήξερε ότι ετοιμάζομαι να μπλοφάρω και έτσι η μπλόφα μου θα αποτύγχανε). Πώς δεν θα το ξέρει; Ο μόνος τρόπος είναι να είμαι εγώ αρκετά έξυπνος να γνωρίζω τη Θ αλλά ο αντίπαλός μου να μην την ξέρει. Άρα, η Θ μου είναι χρήσιμη (δηλαδή είναι «καλή» θεωρία) μόνο εφόσον δεν τη γνωρίζει ο αντίπαλός μου. Συμπερασματικά, είτε η Θ μου είναι χρήσιμη, όταν οι αντίπαλοί μου δεν τη γνωρίζουν, είτε είναι άχρηστη, όταν όλοι τη γνωρίζουν.

Σε αυτό το σημείο παρεμβαίνει η ΥΠΟ λέγοντας το εξής: Καμία τέτοια θεωρία Θ δεν μπορεί να εξηγεί τις πράξεις μας για πολύ καιρό καθώς βασίζεται στην υπόθεση ότι μια μεγάλη μερίδα ατόμων θα συμπεριφέρεται με τρόπο που θα μετάνιωναν αν ήξεραν τη Θ. Στον βαθμό που οι συμμετέχοντες που τη γνωρίζουν κερδίζουν εις βάρος εκείνων που δεν τη γνωρίζουν, όλοι έχουν κίνητρο να τη μάθουν. Όμως όταν όλοι την κατανοήσουν, παύει να μπορεί να δίνει συμβουλές για το πότε πρέπει να μπλοφάρεις. Αχρηστεύεται. Η ΥΠΟ λοιπόν σπεύδει σε αυτό το συμπέρασμα λέγοντας ότι θεωρία του πότε πρέπει να μπλοφάρεις στην πόκα δεν μπορεί να υπάρξει. Ή, τουλάχιστον, ότι δεν μπορεί να είναι χρήσιμη για πολύ καιρό. Αργά ή γρήγορα οι «παίκτες» θα την αχρηστεύσουν... κατανοώντας την.

Ως εδώ καλά. Γιατί κατατάσσω την ΥΠΟ στην κατηγορία των τοξικών θεωριών; Για να ισχύει η ΥΠΟ, τότε τα ανθρώπινα λάθη (όταν κάνουν προβλέψεις για κάποια οικονομική μεταβλητή, όπως, για παράδειγμα, ο πληθωρισμός, οι τιμές των δημητριακών, η τιμή ενός παραγώγου ή μιας μετοχής) πρέπει πάντα να είναι τυχαία, δηλαδή είναι αδύνατον να τυποποιηθούν, να συσχετιστούν ή να θεωρητικοποιηθούν. Αρκούν μερικά δευτερόλεπτα σκέψης για να αντιληφθεί κανείς ότι σύμφωνα με την ΥΠΟ δεν πρέπει να αναμένεται ποτέ Ύφεση και, πολλώ δε μάλλον, Κρίση.

Θεωρία 2η: Η Υπόθεση των Αποτελεσματικών Αγορών ΥΑΑ (4)

Πρόκειται για την υπόθεση του Eugene Fama ότι κανείς δεν μπορεί συστηματικά να κερδίζει παίζοντας στις αγορές μαντεύοντας καλύτερα από... τις αγορές. Όπως κανείς δεν μπορεί να ελπίζει ότι αν στρίψει ένα νόμισμα θα μπορεί να προβλέπει συστηματικά αν θα προκύπτει κορώνα ή γράμματα, έτσι και στις αγορές συστηματικά κέρδη πάνω από τη μέση απόδοση των αγορών δεν νοούνται, σύμφωνα πάντα με την ΥΑΑ.

Ποιο είναι το σκεπτικό της ΥΑΑ; Το εξής: Θεωρείται δεδομένο ότι όλες οι γνωστές πληροφορίες (που έχουν κατ' ιδίαν οι διαφορετικοί «παίκτες») έχουν ήδη παίξει τον ρόλο τους στη διαμόρφωση των τρεχουσών τιμών - έχουν, ουσιαστικά, αποκαλυφθεί ήδη! Αυτό δεν σημαίνει ότι όλοι οι «παίκτες» επιλέγουν σωστά. Κάποιοι υπερ-τιμούν τις μετοχές ή τους τίτλους που αγοράζουν ενώ άλλοι τις υπο-τιμούν. Όμως, ακόμα και όταν όλοι σφάλουν, η αγορά έχει «δίκιο» κατά μέσον όρο και έτσι κανείς δεν μπορεί συστηματικά να κερδίζει πάνω από τον μέσο όρο απόδοσης σε αυτή την αγορά. Μια υπόθεση για την οποία μόνο ο Πάνγλωσσος (του Βολταίρου) θα ήταν περήφανος, καθώς υποθέτει την καλύτερη (και αποτελεσματικότερη) όλων των πιθανών αγορών!

Ο συνδυασμός των δύο παραπάνω θεωρητικών υποθέσεων (ΥΟΠ και ΥΑΑ) αποτέλεσε για δεκαετίες τη ραχοκοκαλιά των τοξικών θεωριών. Για ποιον λόγο; Επειδή οι υφέσεις είναι, εξ ορισμού, συστηματικά φαινόμενα στη διάρκεια των οποίων οι αποκλίσεις από το φυσιολογικό (π.χ. οι πτωχεύσεις νοικοκυριών και επιχειρήσεων) δεν είναι τυχαίες αλλά αλληλένδετες και συσχετισμένες. Όσο αιφνιδιαστικά και αν ενσκήπτουν, εκτυλίσσονται με έναν συγκεκριμένο τρόπο και η κάθε μια από τις φάσεις τους συσχετίζεται με ό,τι προηγήθηκε. Όσοι πίστεψαν προ του 2008 ότι η οικονομία της αγοράς σέβεται τον συνδυασμό ΥΟΠ και ΥΑΑ πείθονταν ότι δεν μπορεί ποτέ να προκύψει Ύφεση ή Κρίση. Αυτή η πεποίθηση ήταν που έκανε τους «παίκτες» του χρηματοπιστωτικού τομέα, τους μεγαλοτραπεζίτες, τους πολιτικούς, τους κεντρικούς τραπεζίτες κοκ να πράττουν χωρίς ειρμό και περιορισμό, πεπεισμένοι πως, ό,τι και να κάνουν, όλα καλά θα πάνε. Αυτή η πεποίθηση, με άλλα λόγια, αυτές οι τοξικές θεωρίες συνεισέφεραν τα μέγιστα στην Κρίση. Και τι νομίζετε ότι έκαναν όταν ξάφνου ξέσπασε η Κρίση που οι θεωρίες τους είχαν αποκλείσει ως αδύνατες; Απλά στρέφονταν στην τρίτη τοξική θεωρία:

Θεωρία 3η: Θεωρία Πραγματικών Οικονομικών Κύκλων - ΘΠΙΚ (5)

Με αφετηρία τις πρώτες δύο εκ των τοξικών θεωριών (βλ. ΥΟΠ και ΥΑΑ πιο πάνω) η ΘΠΟΚ παρουσιάζει τον καπιταλισμό ως μια εύρυθμη Γαία. Αν αφεθεί μόνος του, θα πετύχει αυτόματα μια κατάσταση αρμονίας του «οικοσυστήματός» του δίχως ποτέ να δημιουργεί Κρίσεις (όπως το 2008). Ωστόσο, ενδέχεται να δεχτεί «εξωγενή» σοκ, εξωτερικές επιθέσεις όπως, π.χ. η Γαία που πλήττεται από μετεωρίτες. Πώς αντιδρά ο πλανήτης σε αυτές τις «επιθέσεις»; Σταδιακά αλλά σίγουρα. Στην αρχή μπορεί (αν ο μετεωρίτης είναι μεγάλος) να αλλάξει ακόμα και το κλίμα, να εξαπλωθούν οι πάγοι (έτσι όπως έγινε στην Εποχή των Παγετώνων). Όμως κάποια στιγμή η Γαία αντιδρά ενδογενώς και προσαρμόζεται απορροφώντας τα εξωγενή σοκ. Κάπως έτσι αντιμετωπίζει η ΘΠΟΚ τις οικονομικές Κρίσεις.

Ξεκινώντας με τις υποθέσεις ΥΑΑ-ΥΟΠ, θεωρεί ότι οι κρίσεις έρχονται απέξω, εκτός της λειτουργίας του καπιταλιστικού συστήματος. Π.χ. προκαλούνται από τον παρεμβατισμό των κυβερνήσεων, από μια ανυπάκουη Κεντρική Τράπεζα, από τα ειδεχθή συνδικάτα, τους Άραβες πετρελαιοπαραγωγούς, τους ξένους, κ.λπ. Για την Κρίση, με άλλα λόγια, φταίνε παράγοντες εξωγενείς προς τις αγορές. Κι όπως η Γαία καταφέρνει να απορροφήσει τα εξωγενή σοκ, έτσι και οι κοινωνίες της αγοράς, εφόσον τις αφήσουν οι «εξωγενείς» παράγοντες (π.χ. το κράτος) στην ησυχία τους, ξέρουν πώς να τα απορροφήσουν και να προσαρμοστούν. Μπορεί να απαιτηθεί κάποιο χρονικό διάστημα μέχρι να απορροφηθούν τα κύματα του σοκ και ενδέχεται να υπάρξουν πολλά θύματα, όμως ο καλύτερος τρόπος αντιμετώπισης μιας Κρίσης είναι να αφεθεί ο καπιταλισμός να αντεπεξέλθει μόνος του, χωρίς να υποστεί νέα σοκ από ιδιοτελείς κρατικούς αξιωματούχους και τους συνοδοιπόρους τους (οι οποίοι ισχυρίζονται υποκριτικά ότι προασπίζονται το δημόσιο συμφέρον προκειμένου να προωθήσουν τη δική τους ατζέντα).

Αυτή είναι η τρίτη των τριών τοξικών θεωριών που κυριαρχούσαν στην οικονομική επιστήμη προ του 2008. Οι πρώτες δύο συνεισέφεραν στη σημερινή Κρίση, πείθοντας ότι είναι... αδύνατη, ενώ η τρίτη έρχεται να συμπληρώσει το κακό επιχειρηματολογώντας ότι, τώρα που προέκυψε αυτό που δεν μπορούσε να έχει προβλέψει, καλό είναι να συνεχίσουμε να κάνουμε αυτό που κάναμε πριν προκύψει η Κρίση με μεγαλύτερη ένταση: Απορύθμιση των αγορών, ιδιωτικοποίηση, αύξηση των ανισοτήτων κ.λπ. κ.λπ.

(1) Τα εισαγωγικά που περικλείουν το «Νόμπελ» οφείλονται στο ότι το Νόμπελ Οικονομικών δεν είναι πραγματικό Νόμπελ, όπως εκείνο της Φυσικής, της Λογοτεχνίας κ.λπ. Δημιουργήθηκε από την Κεντρική Τράπεζα της Σουηδίας και ονομάζεται «Βραβείο Οικονομικών της Τράπεζας της Σουηδίας προς τιμή του Alfred Nobel». Η επιτυχία της Τράπεζας της Σουηδίας ήταν να πείσει την επιτροπή των πραγματικών Νόμπελ να γίνεται η ανακοίνωση και η απονομή του δικού της βραβείου οικονομικών την ίδια εποχή και στο ίδιο κτήριο.

(2) Οι παρουσιάσεις των τριών αυτών θεωριών πρωτοεμφανίστηκαν στο παράρτημα του 1ο Κεφαλαίου του βιβλίου μου «Ο παγκόσμιος Μινώταυρος»

(3) Rational Expectations Hypothesis

(4) Efficient Markets Hypothesis

(5) Real Business Cycle Theory
[http://www.protagon.gr/?i=protagon.el.oikonomia&id=28448]

sciEcn'university-degree

name::
* McsEngl.sciEcn'university-degree,
* McsEngl.economics-degree@cptEconomy,

=== university degree
And why did it take so long (i.e. not before the 1890s) for universities to offer degrees dedicated to economics?
[Varoufakis, Foundations of Economics, 1998, 4]

_curiculum

_DESCRIPTION:
Academics back students in protests against economics teaching
Professors argue in letter to the Guardian against 'dogmatic intellectual commitment' to 'orthodoxy and against diversity'
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Phillip Inman, Economics correspondent
The Guardian, Monday 18 November 2013 22.10 GMT
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Unemployed Men During the Great Depression
Unemployed men in the 1930s. 'Students can complete an economics degree without learning about the Great Depression.' Photograph: Mark Benedict Barry/Corbis
A prominent group of academic economists have backed student protests against neo-classical economics teaching, increasing the pressure on top universities to reform courses that critics argue are dominated by free market theories that ignore the impact of financial crises.

The academics from some of the UK's most prestigious institutions, including Cambridge and Leeds universities, said students were being short-changed by their courses, and they accused higher education funding bodies of being a barrier to reforms.

In a startling attack on the agencies that provide teaching and research grants, they said an "intellectual monoculture" is reinforced by a system of state funding based on journal rankings "that are heavily biased in favour of orthodoxy and against intellectual diversity".

The academics said in a letter to the Guardian that a "dogmatic intellectual commitment" to teaching theories based on rational consumers and workers with unlimited wants "contrasts sharply with the openness of teaching in other social sciences, which routinely present competing paradigms".

They said: "Students can now complete a degree in economics without having been exposed to the theories of Keynes, Marx or Minsky, and without having learned about the Great Depression."

The attack follows protests at Manchester University. Students there, who formed the Post Crash Economics Society, said their courses did little to explain why economists failed to warn about the financial crisis and had too heavy a focus on training students for City jobs.

Earlier this month an international group of economists, backed by the New York-based Institute for New Economic Thinking, pledged to overhaul the economics curriculum and offer universities an alternative course.

At a conference hosted by the Treasury at its London offices, they pledged to have a first-year course ready to teach for the 2014-15 academic year that will include economic history and a broader range of competing theories.

The debate over the future of economics teaching follows several years of debate about the role of academics, especially in the US, in providing the intellectual underpinning for the borrowing and trading binge ahead of the 2008 crash.

Levels of private borrowing reached record levels in many countries and trades in exotic derivatives, often funded with debt instruments, soared to a point where few bank executives understood their exposure in the event of a credit crunch.

Many economists, including the 2013 Nobel prize winner Robert Shiller, have argued that mainstream economics wrongly teaches theories based on maintaining openly competitive markets and that well-informed buyers and sellers eliminate the risk of asset prices rising beyond a sustainable level for a prolonged period.

The academics, led by Professor Engelbert Stockhammer of Kingston University, said: "We understand students' frustration with the way that economics is taught in most institutions in the UK.

"There exists a vibrant community of pluralist economists in the UK and elsewhere, but these academics have been marginalised within the profession. The shortcomings in the way economics is taught are directly related to an intellectual monoculture, which is reinforced by a system of public university funding (the Research Excellence Framework and previously the Research Assessment Exercise) based on journal rankings that are heavily biased in favour of orthodoxy and against intellectual diversity," they said.
[http://www.theguardian.com/education/2013/nov/18/academics-back-student-protests-neoclassical-economics-teaching]

sciEcn'GENERIC

_GENERIC:
* entity.model.information.system.weak.science#cptCore406#
* other-view#cptCore505#

sciEcn.EVOLUTING#cptCore546.171#

name::
* McsEngl.sciEcn.EVOLUTING,

_QUERY:
* Query#ql:[Field TIME:] economics*#.
* see: economy's-evolution#ql:ecnhmn'evoluting#.

_QUERY:
* History#ql:[Group 2000emh] |[Field FdTimeSubject:economic'theory|management'theory]#, viewTime:hidden:ECONOMIC'THEORY MANAGEMENT'THEORY,

{time.2008}:
=== NEAR DEATH EXPERIENCE:
Everyone seems to agree that the economics profession had a near death experience in 2008 and either needs to be or has been reborn in a different incarnation. The most optimistic assessments claim that a revolution is already underway based on two developments: 1) A greater emphasis on empirical research; and 2) a different conception of theory.
By David Sloan Wilson
[http://evonomics.com/economic-theory-is-dead-heres-what-will-replace-it/]

{time.1803}: bibliography.
Say, Jean Baptist. A TREATISE ON POLITICAL ECONOMY.

{time.1817}: ΟΙΚΟΝΟΜΙΚΗ ΘΕΩΡΙΑ:
Ο DAVID RICARDO ΔΗΜΟΣΙΕΥΕΙ ΤΗΝ ΕΡΓΑΣΙΑ ΤΟΥ.
[Samuelson, 1975, εξωφυλο#cptResource297#]

{time.1830}: ΚΡΙΣΗ:
Το 1830 αρχισε μια για πάντα η αποφασιστική κρίση της. Η αστική τάξη κατάχτησε στη Γαλλία και την Αγγλία την πολιτική εξουσία. Από τότε η ταξική πάλη αποχτούσε πραχτικά και θεωρητικά όλο και πιο έκδηλες και απειλητικές μορφές. Σήμανε η νεκρώσιμη καμπάν της Επιστημονικής αστικής πολιτικής οικονομίας. Δεν πρόκειται τώρα πια για το αν είναι αληθινό αυτό ή εκείνο το θεώρημα ΜΑ για το άν είναι ωφέλιμο ή επιζήμιο για το κεφάλαιο, άν ταιριάζει ή όχι στο κεφάλαιο, άν έρχεται σε σύγκρουση ή όχι με τις αστυνομικές διατάξεις.
[ΜΑΡΞ ΚΕΦΑΛΑΙΟ Ι, 1867, 21#cptResource118#]

{time.1848}: ΟΙΚΟΝΟΜΙΚΗ ΘΕΩΡΙΑ:
Ο J. S. MILL ΔΗΜΟΣΙΕΥΕΙ ΤΗΝ ΕΡΓΑΣΙΑ ΤΟΥ.
[Samuelson, 1975, εξωφυλο#cptResource297#]

{time.1867, SEP 14: ΟΙΚΟΝΟΜΙΚΗ ΘΕΩΡΙΑ:
ΜΑΡΞ, ΚΑΡΛ. ΚΕΦΑΛΑΙΟ. Ο ΠΡΩΤΟΣ ΤΟΜΟΣ ΚΥΚΛΟΦΟΡΕΙ ΣΕ 1000 ΑΝΤΙΤΥΠΑ.

{time.1870-1920: ΟΙΚΟΝΟΜΙΚΗ ΕΠΙΣΤΗΜΗ:
ΝΕΟΚΛΑΣΣΙΚΟΙ Α' ΓΕΝΙΑ. ΥΠΟΣΤΗΡΙΖΕ "ΟΣΟ ΜΙΚΡΟΤΕΡΗ ΕΙΝΑΙ Η ΠΑΡΕΜΒΑΣΗ ΤΟΥ ΚΡΑΤΟΥΣ ΣΤΗΝ ΟΙΚΟΝΟΜΙΑ, ΤΟΣΟ ΛΙΓΟΤΕΡΟ ΚΑΚΟ ΚΑΝΕΙ"
[ΚΑΡΑΓΙΩΡΓΑΣ, 1979, 19#cptResource121#]

{time.1871-1930: ΟΙΚΟΝΟΜΙΚΗ ΕΠΙΣΤΗΜΗ. ΑΥΣΤΡΙΑΚΗ ΣΧΟΛΗ:
"ΑΝΤΙΜΑΡΞΙΣΤΙΚΗ ΚΑΤΕΥΘΥΝΣΗ ΣΤΗΝ ΑΣΤΙΚΗ ΟΙΚΟΝΟΜΙΚΗ ΘΕΩΡΙΑ ΤΗΣ ΤΕΛΕΥΤΑΙΑΣ ΤΡΙΑΚΟΝΤΑΕΤΙΑΣ ΤΟΥ 19ου ΚΑΙ ΤΩΝ ΑΡΧΩΝ ΤΟΥ 20ου ΑΙΩΝΑ.
ΟΙ ΠΙΟ ΔΙΑΚΕΚΡΙΜΕΝΟΙ ΕΚΠΡΟΣΩΠΟΙ-ΤΗΣ ΗΤΑΝ ΟΙ ΑΥΣΤΡΙΑΚΟΙ ΟΙΚΟΝΟΜΟΛΟΓΟΙ Κ. ΜΕΝΓΚΕΡ, Ε. ΜΠΕΜ-ΜΠΑΒΕΡΚ, Φ. ΒΙΖΕΡ.
... ΟΙ ΟΙΚΟΝΟΜΟΛΟΓΟΙ ΤΗΣ ΣΧΟΛΗΣ ΑΥΤΗΣ ΔΙΑΤΥΠΩΣΑΝ ΤΗ ΛΕΓΟΜΕΝΗ ΘΕΩΡΙΑ ΤΗΣ ΟΡΙΑΚΗΣ ΧΡΗΣΙΜΟΤΗΤΑΣ, ΣΥΜΦΩΝΑ ΜΕ ΤΗΝ ΟΠΟΙΑ Η ΑΞΙΑ ΤΩΝ ΑΓΑΘΩΝ ΚΑΘΟΡΙΖΕΤΑΙ ΟΧΙ ΑΠΟ ΤΗ ΔΑΠΑΝΗ ΤΗΣ ΚΟΙΝΩΝΙΚΑ ΑΝΑΓΚΑΙΑΣ ΕΡΓΑΣΙΑΣ, ΑΛΛΑ ΑΠΟ ΤΗΝ ΥΠΟΚΕΙΜΕΝΙΚΗ ΕΚΤΙΜΗΣΗ ΤΟΥ ΑΓΟΡΑΣΤΗ ΚΑΙ ΤΟΥ ΠΟΥΛΗΤΗ, ΑΠΟ ΤΗ ΧΡΗΣΙΜΟΤΗΤΑ ΤΟΥ ΕΜΠΟΡΕΥΜΑΤΟΣ."
[ΛΕΞΙΚΟ ΠΟΛΙΤΙΚΗΣ ΟΙΚΟΝΟΜΙΑΣ 1983, 74#cptResource172#]

{time.1871-1900: MANAGEMENT THEORY:
But it was not until the late 19th century that MANAGEMENT began to be considered a formal discipline.
[Mondy et al, 1988, #cptResource80#]

{time.1883, MAR 14: ΟΙΚΟΝΟΜΙΚΗ ΕΠΙΣΤΗΜΗ:
ΠΕΘΑΙΝΕΙ Ο ΚΑΡΛ ΜΑΡΞ, 65 ΧΡΟΝΩΝ
[ΕΝΓΚΕΛΣ, ΔΙΑΛΕΚΤΙΚΗ ΤΗΣ ΦΥΣΗΣ, ΧΙ#cptResource199#]

{time.1890}: ΟΙΚΟΝΟΜΙΚΗ ΕΠΙΣΤΗΜΗ.
ΟI WALRAS, MARSHAL ΔΗΜΟΣΙΕΥΕΟΥΝ ΤΙΣ ΕΡΓΑΣΙΕΣ ΤΟΥΣ.
[Samuelson, 1975, εξωφυλο#cptResource297#]

{time.decade1900.economics}:
=== university degree
And why did it take so long (i.e. not before the 1890s) for universities to offer degrees dedicated to economics?
[Varoufakis, Foundations of Economics, 1998, 4]

{time.1917}: ΛΕΝΙΝ:
ΙΜΠΕΡΙΑΛΙΣΜΟΣ. ΠΡΩΤΟΔΙΜΟΣΙΕΥΕΤΑΙ ΣΤΗΝ ΠΕΤΡΟΥΠΟΛΗ
[ΛΕΝΙΝ, Ο ΙΜΠΕΡΙΑΛΙΣΜΟΣ... 1984, 3#cptResource174#]

{time.1931-1970: ΟΙΚΟΝΟΜΙΑ: ΝΕΟΚΛΑΣΣΙΚΗ ΣΧΟΛΗ.
ΜΕΤΑ ΤΟ 1930 Η ΑΝΑΘΕΩΡΗΜΕΝΗ ΘΕΣΗ ΤΗΣ ΥΠΟΣΤΗΡΙΖΕ ΟΤΙ ΓΙΑ ΝΑ ΜΕΓΙΣΤΟΠΟΙΗΘΕΙ Η ΟΙΚΟΝΟΜΙΚΗ ΕΥΗΜΕΡΙΑ ΕΙΝΑΙ ΑΝΑΓΚΑΙΑ Η ΣΥΝΔΥΑΣΜΕΝΗ ΟΙΚΟΝΟΜΙΚΗ ΔΡΑΣΗ ΤΗΣ ΙΔΙΩΤΙΚΗΣ ΕΠΙΧΕΙΡΙΣΗΣ ΚΑΙ ΤΟΥ ΚΡΑΤΟΥΣ. ΤΟ ΚΡΑΤΟΣ ΧΡΕΙΑΖΕΤΑΙ ΝΑ ΠΑΡΕΜΒΑΙΝΕΙ ΣΤΗΝ ΑΓΟΡΑ ΓΙΑ ΝΑ ΔΙΟΡΘΩΝΕΙ ΤΙΣ ΑΤΕΛΕΙΕΣ ΚΑΙ ΝΑ ΑΝΑΠΛΗΡΩΝΕΙ ΤΙΣ ΑΔΥΝΑΜΙΕΣ ΤΗΣ.
[ΚΑΡΑΓΙΩΡΓΑΣ, 1979, 19#cptResource121#]

{time.1931-1940: ΑΣΤΙΚΗ ΣΚΕΨΗ:
ΜΟΝΟ ΤΟΤΕ ΒΡΙΣΚΕΙ ΠΡΑΓΜΑΤΙΚΗ ΑΝΤΑΝΑΚΛΑΣΗ Η ΔΙΑΜΟΡΦΩΣΗ ΤΩΝ ΓΙΓΑΝΤΙΑΙΩΝ ΚΑΠΙΤΑΛΙΣΤΙΚΩΝ ΜΟΝΟΠΩΛΙΩΝ, ΔΗΛΑΔΗ ΤΟΤΕ ΕΜΦΑΝΙΖΕΤΑΙ Η ΘΕΩΡΙΑ ΤΟΥ "ΜΗ ΠΛΗΡΟΥΣ ΑΝΤΑΓΩΝΙΣΜΟΥ"
[ΜΕΤΣΕΦ, 1983, 37#cptResource124#]

CRISIS.
Joan Robinson, a Cambridge University professor, said that the first crisis of economic theory had been in the 1930s, when capitalist political economy had proved incapable of dealing with the problem of employment. It was overcome by the appearance of Keynes theory.
[Smirnov et al, 1984, 16#cptResource289#]

{time.1936}: ΚΕΥΝΣ:
ΔΗΜΟΣΙΕΥΕΙ ΤΗ "ΓΕΝΙΚΗ ΘΕΩΡΙΑ ΤΗΣ ΑΠΑΣΧΟΛΗΣΗΣ, ΤΟΥ ΕΠΙΤΟΚΙΟΥ ΚΑΙ ΤΟΥ ΧΡΗΜΑΤΟΣ"
[ΜΕΤΣΕΦ, 1983, 93#cptResource124#]

In the 1930s the British economist John Mynard Keynes wrote that the capitalist economy could not generate full employment of people and resources without state direction.
[Smirnov et al, 1984, 13#cptResource289#]

{time.1950}: ΟΙΚΟΝΟΜΙΚΗ ΘΕΩΡΙΑ, ΒΙΒΛΙΟΓΡΑΦΙΑ:
W. KAPP. "THE SOCIAL COST OF PRIVATE ENTERPRISES" ΠΡΩΤΗ ΑΞΙΟΛΟΓΗ ΕΡΓΑΣΙΑ ΠΑΝΩ ΣΤΗ ΡΥΠΑΝΣΗ ΤΟΥ ΠΕΡΙΒΑΛΛΟΝΤΟΣ.
[ΚΑΡΑΓΙΩΡΓΑΣ, 1979, 192#cptResource121#]

{time.1951}: ΟΙΚΟΝΟΜΙΚΗ ΘΕΩΡΙΑ:
Schumpeter, Joseph. TEN GREAT ECONOMISTS. FROM MARX TO KEYNS. London: Allen & Unwin, 1951.
[Smirnov et al, 1984, 41#cptResource289#]

{time.1954}: MANAGEMENT THEORY:
MANAGEMENT BY OBJECTIVES.  Peter Drucker first described [management by objectives] in 1954 in "The Practice of management".
[Mondy et al, 1988, 108#cptResource80#]

{time.1955}: ΒΙΒΛΙΟΓΡΑΦΙΑ:
TINBERGEN S. (1903-) "On The Theory of Economic Policy" North Holland. ΔΙΑΤΥΠΩΝΕΤΑΙ Η ΑΠΟΨΗ ΟΤΙ ΟΙ ΣΥΓΧΡΟΝΕΣ ΚΟΙΝΩΝΙΕΣ, ΜΕΣΑ ΣΤΑ ΟΡΙΑ ΠΟΥ ΘΕΤΟΥΝ ΤΑ ΠΕΡΙΟΡΙΣΜΕΝΑ ΜΕΣΑ ΠΑΡΑΓΩΓΗΣ, ΕΠΙΔΙΩΚΟΥΝ ΤΟΥΣ ΠΑΡΑΚΑΤΩ ΒΑΣΙΚΟΥΣ ΣΚΟΠΟΥΣ:
α) ΑΡΙΣΤΗ ΚΑΤΑΝΟΜΗ ΤΩΝ ΔΙΑΘΕΣΙΜΩΝ ΜΕΣΩΝ ΠΑΡΑΓΩΓΗΣ
β) ΑΡΙΣΤΗ ή ΚΟΙΝΩΝΙΚΑ ΕΠΙΘΥΜΗΤΗ ΔΙΑΝΟΜΗ
γ) ΠΛΗΡΗ ΑΠΑΣΧΟΛΗΣΗ ΚΑΙ ΝΟΜΙΣΜΑΤΙΚΗ ΣΤΑΘΕΡΟΤΗΤΑ
δ) ΚΟΙΝΩΝΙΚΑ ΕΠΙΘΥΜΗΤΟ ΡΥΘΜΟ ΟΙΚΟΝΟΜΙΚΗΣ ΑΝΑΠΤΥΞΗΣ
[ΚΑΡΑΓΙΩΡΓΑΣ, 1979, 27#cptResource121#]

{time.1956}: ΜΟΝΕΤΑΡΙΣΜΟΣ:
ΚΥΚΛΟΦΟΡΗΣΕ ΣΤΙΣ ΗΠΑ ΜΙΑ ΜΙΚΡΗ ΣΥΛΛΟΓΗ ΑΡΘΡΩΝ ΜΕ ΤΙΤΛΟ "ΜΕΛΕΤΕΣ ΣΤΟΝ ΤΟΜΕΑ ΤΗΣ ΠΟΣΟΤΙΚΗΣ ΘΕΩΡΙΑΣ ΤΩΝ ΧΡΗΜΑΤΩΝ" ΠΟΥ ΤΗΝ ΕΠΙΜΕΛΗΘΗΚΕ Ο ΛΙΓΟ ΤΟΤΕ ΓΝΩΣΤΟΣ ΜΕΧΡΙ ΤΟΤΕ ΚΑΘΗΓΗΤΗΣ ΤΟΥ ΠΑΝΕΠΙΣΤΗΜΙΟΥ ΤΟΥ ΣΙΚΑΓΟΥ ΜΙΛΤΟΝ ΦΡΙΝΤΜΑΝ. ΑΥΤΟ ΤΟ ΒΙΒΛΙΟ ΣΗΜΑΔΕΨΕ ΤΗΝ ΕΙΣΟΔΟ ΤΗΣ ΘΕΩΡΙΑΣ ΤΟΥ ΜΟΝΕΤΑΡΙΣΜΟΥ ΣΤΟ ΠΛΑΤΥ ΣΤΙΒΟ ΤΩΝ ΑΝΤΙΠΛΗΘΩΡΙΣΤΙΚΩΝ ΜΕΤΡΩΝ
[ΒΟΣΤΡΙΚΟΦ, 1986, 68#cptResource162#]

{time.1958-1960: MANAGEMENT THEORY:
HUMAN RESOURCES THEORY.  The decline of the human relations philosophy in the late 1950s brought a new focus to the personel function.
The term HUMAN RESOURCE MANAGEMENT came more into vogue.
[Wren, 1987, 418#cptResource127#]
BIBLIOGRAPHY;
Nowhere was the evolution in human relations thought more evidernt than in the work of Arizona State's Professor Keith Davis, "Mr Human Relations".
Davis, Keith. Human Relations in Business, NY: McGraw-Hill Book Co., 1957
[Wren, 1987, 372#cptResource127#]

{time.1963}: MANAGEMENT THEORY:
SYSTEMS APPROACH:
One alternative to Fayol's theory was the systems approach, which was base on the 1930s work of the biologist, Ludwig von Bertalanfy. In 1963, two separate publications marked the appearance of the system's approach to the manager's job.

Tilles, S. "The Manager's Job: A Systems Approach" Harvard Business Review, 41,1 (Jan-Febr 1963): 73-81.

Johnson, R.A., F.E. Kast, and J.E. Rosenzweig. The Theory and Management of Systems. NY: McGrow-Hill Book C., 1963.
[Wren, 1987, 358#cptResource127#]

{time.1963}:
ΔΙΕΘΝΗ ΘΕΩΡΗΤΙΚΗ ΣΥΝΔΙΑΣΚΕΨΗ. ΓΙΑ ΤΗΝ ΟΡΘΗ ΔΙΑΤΥΠΩΣΗ ΤΗΣ ΠΡΟΓΡΑΜΜΑΤΙΣΜΕΝΗΣ ΚΑΠΙΤΑΛΙΣΤΙΚΗΣ ΟΙΚΟΝΟΜΙΑΣ ΣΤΗ ΦΡΑΓΚΦΟΥΡΤΗ ΤΟΥ ΜΑΙΝ
[ΜΕΤΣΕΦ, 1983, 298#cptResource124#]

{time.1966}: NOBEL:
ΠΗΡΕ Ο ΟΙΚΟΝΟΜΕΤΡΗΣ ΟΛΛΑΝΔΟΣ J. TINBERGEN

{time.1967}: ΒΙΒΛΙΟΓΡΑΦΙΑ:
ΓΚΑΛΜΠΡΕΙΘ (1908- ), THE NEW INDUSTRIAL STATE. BOSTON.
===
1967: bibliography.
Bell, John Fred. A HISTORY OF ECONOMIC THOUGHT. 2nd ed. NY: Ronald Press.

{time.1969}: NOBEL:
ΣΑΝ ΕΙΔΟΣ ΓΙΟΡΤΗΣ ΓΙΑ ΤΟ ΓΕΓΟΝΟΣ ΟΤΙ ΑΡΧΙΖΕΙ Η ΕΠΟΧΗ ΤΗΣ ΟΙΚΟΝΟΜΙΚΗΣ ΩΣ ΕΠΙΣΤΗΜΗΣ, ΘΕΣΠΙΣΤΗΚΕ ΤΟ 1969 ΒΡΑΒΕΙΟ ΝΟΜΠΕΛ ΓΙΑ ΤΗΝ ΟΙΚΟΝΟΜΙΚΗ. ΤΟ ΠΡΩΤΟ ΒΡΑΒΕΙΟ ΑΠΕΝΕΜΗΘΗ ΑΠΟ ΚΟΙΝΟΥ ΣΤΟΥΣ ΚΑΘΗΓΗΤΕΣ Ragnar Frisch ΤΗΣ ΝΟΡΒΗΓΙΑΣ ΚΑΙ Jan Tinbergen ΤΗΣ ΟΛΛΑΝΔΙΑΣ.
[Samuelson, 1975, 7#cptResource297#]

{time.1971-1980: ΚΕΥΝΣΙΑΝΙΣΜΟΣ:
Πτώση της δημοτικότητάς του, ΚΑΙ ΒΑΘΜΙΑΙΑ ΠΑΡΑΚΜΗ ΕΝΩ ΚΑΠΟΤΕ ΚΥΡΙΑΡΧΟΥΣΕ ΣΤΗΝ ΚΑΠΙΤΑΛΙΣΤΙΚΗ ΟΙΚΟΝΟΜΙΚΗ ΕΠΙΣΤΗΜΗ.
[ΒΟΣΤΡΙΚΟΦ, 1986, 42#cptResource162#]
Η ΧΡΕΟΚΟΠΙΑ ΤΗΣ ΟΙΚΟΝΟΜΙΚΗΣ ΠΟΛΙΤΙΚΗΣ ΤΩΝ ΑΣΤΙΚΩΝ ΚΡΑΤΩΝ, ΠΟΥ ΑΚΟΛΟΥΘΗΣΑΝ ΤΙΣ ΣΥΝΤΑΓΕΣ ΤΟΥΣ ΓΙΑ ΤΗ ΡΥΘΜΙΣΗ ΤΗΣ ΟΙΚΟΝΟΜΙΑΣ, ΕΓΙΝΕ ΙΔΙΑΙΤΕΡΑ ΦΑΝΕΡΗ.
[ΒΟΣΤΡΙΚΟΦ, 1986, 37#cptResource162#]
In the 1970s and 1980s the neoclassical or neoliberal trend became popular once again, this brought forth by the crisis of state monopoly regulation. Many of its spokesmen completely support all measures of state interference aimed against the workers. Their objections concern such forms as price control, increase of appropriations for social needs, and so on.
[Smirnov et al, 1984, 19#cptResource289#]

{time.1976}: MANAGEMENT THEORY:
Likert, Rensis, and Jane G. Likert, NEW WAYS OF MANAGING CONFLICT. NY: McGraw-Hill Book Co., 1976.
In his last book, Likert proposed "System 5" "an even more sophisticated, complex, and effective system" which would emerge as the social sciences advanced.
[Wren, 1987, 383#cptResource127#]

{time.1976}: ΟΙΚΟΝΟΜΙΚΗ ΕΠΙΣΤΗΜΗ:
Α' ΣΥΝΕΔΡΙΟ ΟΙΚΟΝΟΜΟΛΟΓΩΝ ΤΟΥ ΤΡΙΤΟΥ ΚΟΣΜΟΥ ΣΤΟ ΑΛΓΕΡΙ
[ΔΟΥΚΑΚΗΣ, 1989, 228#cptResource123#]

{time.1976}: NOBEL:
ΠΑΙΡΝΕΙ Ο ΦΡΗΝΤΜΑΝ (1912-), ΜΟΝΕΤΑΡΙΣΤΗΣ

{time.1978}: NOBEL:
ΠΑΙΡΝΕΙ Ο ΑΜΕΡΙΚΑΝΟΣ SIMON ΠΟΥ ΜΕΛΕΤΗΣΕ ΤΗ ΔΙΑΔΙΚΑΣΙΑ ΛΗΨΗΣ ΟΡΘΟΛΟΓΙΚΩΝ ΑΠΟΦΑΣΕΩΝ ΜΕΣΗ Η/Υ
[ΗΛΙΤΣΕΦ ΚΛΠ, ΦΙΛΟΣΟΦΙΚΟ ΛΕΞΙΚΟ, 1985, Δ460#cptResource164#]

{time.1980}: MANAGEMENT THEORY:
CLASSIFICATION.  In 1980, Harold Koontz revisited the management theory jungle and found that it had expanded from 6 to 11 approaches.
1.The OPERATIONAL school (a new name for the "management process" school) continued to study the managerial functions but had also added two new schools,
2.MANAGERIAL ROLES and the
3.CONTINGENCY or SITUATIONAL approach.
4.The EMPIRICAL school remained, although its case study approach had been influenced by the role and situational approaches.
The human behvior school had led to two new approaches:
5.INTERPERSONAL BEHAVIOR and
6;ROUP BEHAVIOR. The social system approach had unergone the most proliferation, multiplying into the
7.SOCIOTECHNICAL SYSTEMS
8.COOPERATIVE SOCIAL SYSTEMS and
9.SYSTEMS approaches.
10.the DECISION THEORY and
11.the MATHEMATICAL SCHOOLS had remained the same except for adding the phrase management science to the mathematical branch.
Koontz,H.,"The Management Theory Jungle Revisited" Academy of Management Review, 5 (April 1980):175-187.
[Wren, 1987, 364#cptResource127#]

{time.1982}: MANAGEMENT THEORY:
Peters, Th.J., and R.H. Waterman, Jr., IN SEARCH OF EXCELLENCE. NY:Harper & Row, 1982.
After years of being told that they were inferior, American business leaders responded to the Peters and Waterman book in legions, making it a best seller.
[Wren, 1987, 363#cptResource127#]

{time.1986}: NOBEL:
ΠΗΡΕ Ο ΑΜΕΡΙΚΑΝΟΣ ΜΠΙΟΥΚΑΝΑΝ ΤΖΕΙΜΣ ΜΑΓΚΙΛ ΓΙΑ ΤΗΝ ΕΡΓΑΣΙΑ ΤΟΥ ΠΟΥ ΤΟΠΟΘΕΤΕΙΤΑΙ ΣΤΟ ΧΩΡΟ ΤΗΣ "ΝΕΑΣ ΠΟΛΙΤΙΚΗΣ ΟΙΚΟΝΟΜΙΑΣ" ή "ΔΗΜΟΣΙΑΣ ΕΠΙΛΟΓΗΣ" ΠΟΥ ΜΕΤΑΦΕΡΕΙ ΤΗ ΜΕΘΟΔΟ ΑΝΑΛΥΣΗΣ ΟΙΚΟΝΟΜΙΚΩΝ ΖΗΤΗΜΑΤΩΝ ΣΤΗΝ ΠΟΛΙΤΙΚΗ. ΕΤΣΙ Ο ΚΑΘΕΝΑΣ ΕΝΕΡΓΕΙ ΣΚΕΦΤΟΜΕΝΟΣ ΤΟ ΠΡΟΣΩΠΙΚΟ ΟΦΕΛΟΣ ΚΑΙ ΟΧΙ ΤΟ ΚΟΙΝΟ ΣΥΜΦΕΡΟΝ.
[ΠΡΩΤΗ 17 ΟΚΤΩ 1986]

{time.1987}: NOBEL:
ΠΗΡΕ Ο ΑΜΕΡΙΚΑΝΟΣ ΟΙΚΟΝΟΜΟΛΟΓΟΣ ΡΟΜΠΕΡΤ ΜΕΡΤΟΝ ΣΟΛΟΟΥ 63 ΧΡΟΝΩΝ ΓΙΑ ΤΗ ΣΥΜΒΟΥΛΗ ΤΟΥ ΣΤΗ ΘΕΩΡΙΑ ΤΗΣ ΟΙΚ. ΑΝΑΠΤΥΞΗΣ. ΕΙΝΑΙ ΚΕΥΝΣΙΑΝΙΣΤΗΣ.

{time.1988}: NOBEL:
ΣΤΟ ΓΑΛΛΟ ΜΟΡΙΣ ΑΛΑΙ ΓΙΑ ΘΕΩΡΙΑ ΑΓΟΡΩΝ ΚΑΙ ΑΠΟΤΕΛΕΣΜΑΤΙΚΟΤΗΤΑ ΧΡΗΣΗΣ ΠΛΟΥΤΟΠΑΡΑΓΩΓΙΚΩΝ ΠΗΓΩΝ. ΘΕΩΡΕΙΤΑΙ ΣΤΗ ΓΑΛΛΙΑ ΣΗΜΑΝΤΙΚΟΣ ΣΤΗΝ ΕΦΑΡΜΟΓΗ ΣΥΓΧΡΟΝΩΝ ΟΙΚΟΝΟΜΙΚΩΝ ΘΕΩΡΙΩΝ ΣΤΗ ΔΗΜΟΣΙΑ ΟΙΚΟΝΟΜΙΑ
[ΡΙΖ 19 ΟΚΤ 1988]

NAME

name::
* McsEngl.ecmHmn'STANDARD,
* McsEngl.conceptEconomy203,
* McsEngl.economic-standard@cptEconomy203, {2012-04-14}
* McsEngl.economy's-standard@cptEconomy203, {2012-04-14}
* McsEngl.standard.economy@cptEconomy203, {2012-04-14}
* McsEngl.stdEcn@cptEconomy203, {2012-04-14}

stdEcn'GENERIC

_GENERIC:
* standard#cptCore459#

SPECIFIC

name::
* McsEngl.stdEcn.specific,

_SPECIFIC: stdEcn.Alphabetically:
* CPC (UN)#cptEconomy203.2#
* ISIC (UN)#cptEconomy203.1#
* satisfier-standard#cptEconomy541.75#
* SNA (UN)#cptEconomy381.58.5#

stdEcn.CPC (UN)

name::
* McsEngl.stdEcn.CPC (UN),
* McsEngl.conceptEconomy203.2,
* McsEngl.conceptEconomy0.5,
* McsEngl.CPC@cptEconomy203.2,
* McsEngl.central-product-classification@cptEconomy0.5,

_DESCRIPTION:
United Nations (2008b): Central Product Classification Version 2. Department of Economic and Social Affairs, Statistics Division, Statis­tical Papers, Series M, No 77, Ver. 2. United Nations Publications, Sales No.E.08.XVII.7.

_ADDRESS.WPG:
* http://unstats.un.org/unsd//cr/registry/cpc-2.asp

stdEcn.ISIC (UN)

name::
* McsEngl.stdEcn.ISIC (UN),
* McsEngl.conceptEconomy203.1,
* McsEngl.conceptEconomy0.4,
* McsEngl.ISIC@cptEconomy203.1,
* McsEngl.International-Standard-Industrial-Classification@cptEconomy0.4,
* McsEngl.International-Standard-Industrial-Classification-of-All-Economic-Activities,

_DESCRIPTION:
The International Standard Industrial Classification of All Economic Activities is a United Nations system for classifying economic data. The United Nations Statistics Division describes it in the following terms:

Wide use has been made of ISIC, both nationally and internationally, in classifying data according to kind of economic activity in the fields of production, employment, gross domestic product and other statistical areas. ISIC is a basic tool for studying economic phenomena, fostering international comparability of data, providing guidance for the development of national classifications and for promoting the development of sound national statistical systems.
[http://en.wikipedia.org/wiki/International_Standard_Industrial_Classification]

DEFINITION

_DefinitionWhole:
Any system PART of a human-economy.
[hmnSngo.2012-05-25]
===
Economic-system is a structure #cptEconomy207# PLUS its processes (591).
[hmnSngo.2011-05-04]

stmEcmHmn'GENERIC

_GENERIC:
* entity.body.node.nodeTree.nodeTwp#cptCore348.24#
* entity.whole.system.societal.human#cptCore1.4#
* entity.whole.system#cptCore765#

stmEcmHmn'WHOLE

_WHOLE:
* sympan'societyHuman'economy#cptEconomy323#

SPECIFIC

name::
* McsEngl.stmEcmHmn.specific,
* McsEngl.sysEcmHmn.specific,

_SPECIFIC:
* system.economic.colony#cptEconomy323.44#
* system.economic.agent#cptEconomy66#
* entity.whole.system.humans.organization.society'spart#cptEconomy540#
* system.economic.financial#cptEconomy71.4#

_SPECIFIC: sysEcn.Alphabetically:
* system.economic.colony#cptEconomy323.44#
* system.economic.agent#cptEconomy66#
* entity.whole.system.humans.organization.society'spart#cptEconomy540#
* system.economic.financial#cptEconomy71.4#

stmEcmHmn.LEVEL1

_CREATED: {2012-05-05}

name::
* McsEngl.stmEcmHmn.LEVEL1,
* McsEngl.conceptEconomy323.20,
* McsEngl.ecmHmn'system-of-whole-economy,
* McsEngl.ecnHmn'node,
* McsEngl.ecnHmn'system,
* McsEngl.economy'system@cptEconomy323.20, {2012-05-08}
* McsEngl.first-level-system@cptEconomy, {2015-05-24}
* McsEngl.system-of-economy@cptEconomy323.20, {2012-05-05}
* McsEngl.system-of-whole-economy@cptEconomy323.20, {2012-12-23}
* McsEngl.system.economic@cptEconomy323.20, {2012-05-22}
* McsEngl.system.economy's@cptEconomy323.20, {2012-05-05}
* McsEngl.sysEcm@cptEconomy323.20, {2012-12-20}
* McsEngl.nodeEcnHmn@cptEconomy323.20, {2012-08-12}
* McsEngl.sysEcnc@cptEconomy323.20, {2012-05-22}

_GENERIC:
* entity.body.node.nodeTree.nodeTwp#cptCore348.24# 2012-08-12,
* entity.whole.system#cptCore765#

_DESCRIPTION:
Any system PART of the economy-system#cptEconomy323#.
[hmnSngo.2012-05-22]

stmEcmHmn.CONSUMING_OF_ECONOMY#cptEconomy23.7#

stmEcmHmn.GOVERNING-OF-ECONOMY#cptCore999.6#

name::
* McsEngl.stmEcmHmn.GOVERNING-OF-ECONOMY,

stmEcmHmn.CREATING-OF-ECONOMY#cptEconomy197#

name::
* McsEngl.stmEcmHmn.CREATING-OF-ECONOMY,

stmEcmHmn.producing.TRANSACTING#cptEconomy74#

name::
* McsEngl.stmEcmHmn.producing.TRANSACTING,

stmEcmHmn.producing.TRANSPORTING

name::
* McsEngl.stmEcmHmn.producing.TRANSPORTING,
* McsEngl.stmTransporting,
* McsEngl.transport-system@cptEconomy,
* McsEngl.transporting-system@cptEconomy,

* McsEngl.stmTpt,

SPECIFIC

name::
* McsEngl.sysEcm.specific,

_SPECIFIC: sysEcm.alphabetically:
* sysEcm.consuming#cptEconomy23.7#
* sysEcm.administrating#cptCore999.6#
* sysEcm.company#cptEconomy1#
* sysEcm.producing.creating#cptEconomy197#
* sysEcm.producing.transacting#cptEconomy74#

_SPECIFIC: sysEcn.SPECIFIC_DIVISION.DOING:
* producing:
 * creating
 * circulating (market)
* consuming (household)
* governing
[hmnSngo.2012-05-19]
===
* producing
* consuming (household)
* trading (market)
* regulating (governance)
[hmnSngo.2012-05-08]

ecmHmn'Trade-balance#cptEconomy369.34#

name::
* McsEngl.ecmHmn'Trade-balance,

DEFINITION

_DESCRIPTION:
Capitalism is the-economy controlled by capital (= owner of capital).
[hmnSngo.2015-08-19]
===
ΚΑΠΙΤΑΛΙΣΤΙΚΗ ΟΙΚΟΝΟΜΙΑ, είναι η οικονομία στην οποία η βασική παραγωγική σχέση είναι η αντίθεση ΚΕΦΑΛΑΙΟΥ και ΜΙΣΘΩΤΗΣ ΕΡΓΑΣΙΑΣ.
[hmnSngo.1994-05]
===
Capitalism is generally considered to be an economic system that is based on private ownership of the means of production and the creation of goods or services for profit or income by individuals or corporations. Some have also used the term as a synonym for competitive markets, voluntary exchange, wage labor, capital accumulation, or personal finance.[1][2][3] Capitalism is variously defined by sources and there is no general consensus among scholars on the definition nor which economies can historically be properly considered capitalist.[4] The designation is applied to a variety of historical cases, varying in time, geography, politics, and culture.[5] There is, however, general agreement that capitalism became dominant in the Western world following the demise of feudalism.[6]
Economists, political economists and historians have taken different perspectives on the analysis of capitalism. Economists usually emphasize the degree to which government does not have control over markets (laissez faire), as well as the importance of property rights.[7][8] Most political economists emphasize private property as well, in addition to power relations, wage labor, class, and the uniqueness of capitalism as a historical formation.[9] The extent to which different markets are free, as well as the rules defining private property, is a matter of politics and policy. Many states have what are termed mixed economies, referring to the varying degree of planned and market-driven elements in a state's economic system.[9] A number of political ideologies have emerged in support of various types of capitalism, the most prominent being economic liberalism.
Capitalism gradually spread throughout the Western world in the 19th and 20th centuries.[5]
[http://en.wikipedia.org/wiki/Capitalism]
===
A Market Economy is an economy in which decisions regarding investment, production and distribution are based on supply and demand[1] and the prices of goods and services are determined in a free price system.[2] This is contrasted with a planned economy, where investment and production decisions are embodied in a plan of production. Market economies can range from hypothetical laissez-faire and free market variants to regulated markets and interventionist variants. Most existing market economies include a degree of economic planning or state-directed activity and are thus classified as mixed economies.
In the real world, market economies do not exist in pure form, as societies and governments regulate them to varying degrees rather than allow full self-regulation by market forces.[3][4] The term free-market economy is sometimes used synonymously with market economy,[5] but, as Ludwig Erhard once pointed out, this does not preclude an economy from providing various social welfare programs such as unemployment benefits, as in the case of the social market economy.
There are many variations of market socialism ranging from the cooperative model, where employee-owned enterprises based on self-management are coordinated by markets and output of final goods and services is based on market allocation,[6] to those based on public ownership of the means of production.[7]
The term used by itself can be somewhat misleading. For example, the United States constitutes a mixed economy (substantial market regulation, agricultural subsidies, extensive government-funded research and development, Medicare/Medicaid), yet at the same time it is foundational rooted in a market economy. Different perspectives exist as to how strong a role the government should have in both guiding the market economy and addressing the inequalities the market produces. This is evidenced by the current lack of consensus on issues such as central banking and welfare.[citation needed]
[http://en.wikipedia.org/wiki/Market_economy]

ecmCpm'PART

_SPECIFIC:
* antithesis#cptEconomy323.46.9#

ecmCpm'ENVIRONMENT#cptCore756#

name::
* McsEngl.ecmCpm'ENVIRONMENT,

ecmCpm'OTHER-VIEW

name::
* McsEngl.ecmCpm'OTHER-VIEW,
* McsEngl.conceptEconomy323.46.2,
* McsEngl.conceptEconomy396,
* McsEngl.views-on-capitalism,
* McsEngl.views.capitalism@cptEconomy49.2,
* McsElln.ΑΠΟΨΕΙΣ/ΘΕΩΡΙΑ-ΓΙΑ-ΚΑΠΙΤΑΛΙΣΜΟ,
* McsElln.ΑΠΟΨΕΙΣ-ΓΙΑ-ΚΑΠΙΤΑΛΙΣΜΟ@cptEconomy49.2,

_GENERIC:
* other-view#cptCore505#

ecmCpm'Antithesis

name::
* McsEngl.ecmCpm'Antithesis,
* McsEngl.conceptEconomy323.46.9,

producing-distributing:

"Η ΑΝΤΙΘΕΣΗ ΑΝΑΜΕΣΑ
 ΣΤΟΝ ΚΟΙΝΩΝΙΚΟ ΧΑΡΑΚΤΗΡΑ ΤΗΣ ΠΑΡΑΓΩΓΗΣ ΚΑΙ
 ΤΗΝ ΑΤΟΜΙΚΗ ΚΑΠΙΤΑΛΙΣΤΙΚΗ ΜΟΡΦΗ ΙΔΙΟΠΟΙΗΣΗΣ ΤΩΝ ΠΡΟΙΟΝΤΩΝ ΤΗΣ ΕΡΓΑΣΙΑΣ."
[ΛΕΞΙΚΟ ΠΟΛΙΤΙΚΗΣ ΟΙΚΟΝΟΜΙΑΣ 1983, 80#cptResource172#]

"... the main contradiction of capitalism, i.e. that between the social character of production and private, capitalis appropriation, which is manifested both as a disproportion between industries and as a contradiction between production and consumption"
[Smirnov et al, 1984, 120#cptResource289#]

Socialization of losses, privatization of gains.

ecmCpm'Cycle

name::
* McsEngl.ecmCpm'Cycle,
* McsEngl.conceptEconomy323.46.8,
* McsEngl.conceptEconomy308,
* McsEngl.cycle-of-capitalism,
* McsEngl.business-cycle,
* McsEngl.economic-cycle,
* McsEngl.capitalism-cycle,
* McsEngl.cpaitalism's'cycle,
* McsEngl.capitalist-economy-cycle,
* McsEngl.economic-cycle,
* McsEngl.trade-cycle,
====== lagoGreek:
* McsElln.ΚΑΠΙΤΑΛΙΣΜΟΥ-ΚΥΚΛΟΣ,
* McsElln.ΚΑΠΙΤΑΛΙΣΜΟΥ'ΚΥΚΛΟΣ@cptEconomy308,
* McsElln.ΚΥΚΛΟΣ-ΚΑΠΙΤΑΛΙΣΤΙΚΗΣ-ΟΙΚΟΝΟΜΙΑΣ,
* McsElln.ΟΙΚΟΝΟΜΙΚΟΣ-ΚΥΚΛΟΣ,

_DESCRIPTION:
The term business cycle (or economic cycle) refers to economy-wide fluctuations in production or economic activity over several months or years. These fluctuations occur around a long-term growth trend, and typically involve shifts over time between periods of relatively rapid economic growth (an expansion or boom), and periods of relative stagnation or decline (a contraction or recession).[1]
Business cycles are usually measured by considering the growth rate of real gross domestic product. Despite being termed cycles, these fluctuations in economic activity do not follow a mechanical or predictable periodic pattern.
[http://en.wikipedia.org/wiki/Business_cycle]
===
ΚΑΠΙΤΑΛΙΣΤΙΚΟΣ ΚΥΚΛΟΣ είναι η κίνηση της καπιταλιστικής παραγωγής μέσα από φάσεις που ακολουθούν η μια την άλλη: κριση, ύφεση, ανάκαμψη, άνθηση...
[ΛΕΞΙΚΟ ΠΟΛΙΤΙΚΗΣ ΟΙΚΟΝΟΜΙΑΣ 1983, α252#cptResource172#]
===
Business Cycle
Definition of The Business cycle – The Business cycle refers to the cyclical nature of economic growth. Typically the business cycles involves a period of rapid growth followed by slower growth or in some cases a recession.

The business cycle is sometimes referred to as the ‘trade cycle’ or just economic cycle. Some business cycles are more volatile and become known as a period of ‘boom and bust’. Other business cycles are more stable.

Since the Bank of England monetary policy committee was made independent in 1997, the UK business cycle has been more stable, avoiding the economic boom and bust of the late 1980s.
[http://www.economicshelp.org/blog/glossary/business-cycle/]

ecmCpm'Defect

name::
* McsEngl.ecmCpm'Defect,
* McsEngl.capitalism'problem,

Το πρόβλημα του καπιταλισμού δε είναι το ότι, εκεί όπου υπάρχουν ισχυρές ομάδες κοινών συμφερόντων, τα χρήματα καθορίζουν την Πολιτική – με αποτέλεσμα να την κάνουν εντελώς αγνώριστη, διαπλεκόμενη και διεφθαρμένη.
[http://www.casss.gr/PressCenter/Articles/2540.aspx]

"Some, including the American economist J. K. Galbraith, think the defects of the capitalist economic system to be organic".
[Smirnov et al, 1984, 13#cptResource289#]

it is more and more difficult to blame capitalism's defects on human nature.
[Smirnov et al, 1984, 13#cptResource289#]

Οι ατέλειες και αδυναμίες της αγορας (επικεφαλίδες):
1. η μή επαλήθευση των υποθέσεων του τέλειου ανταγωνισμού.
2. οι αποκλίσεις απο την άριστη κατανομή των μέσων παραγωγής.
3. η άνιση διανομή.
4. οι οικονομικές διαταραχές (ύφεση - πληθωρισμός).
5. οικονομική υπανάπτυξη.
[ΚΑΡΑΓΙΩΡΓΑΣ, 1979, 73#cptResource121#]

ecmCpm'doing

name::
* McsEngl.ecmCpm'doing,

ecmCpm'evaluation#cptCore50.30#

name::
* McsEngl.ecmCpm'evaluation,

_Evaluation:

May 15, 2012 6:09 pm
Capitalism is still the best system there is
By Luke Johnson
Are capitalists clinical psychopaths? An essay in the New York Times by a literary critic implies they are. William Deresiewicz wrote that capitalism is predicated on bad behaviour, including “accounting fraud, tax evasion, toxic dumping, product safety violations, bid rigging, overfilling, perjury”. His premise is that the free market is amoral, and that capitalist values are antithetical to Christian ones.
Such outbursts, like the Occupy movement, and even the recent election of a Socialist president in France, are the products of spoilt societies that are in denial. Widespread ignorance about how material progress is achieved mean academics, politicians and union leaders are whipping up hatred of wealth creators of all kinds.
Do such activists think new products and services appear thanks to government intervention? Where do they think the money to pay for roads, schools, police and hospitals comes from? Do they believe that consumer innovation, technological advance and the funding for taxation emerge from the saintly public sector? Why is the profit motive seen as wicked, while working in places such as universities appears so very ethical?
Perhaps the hatred stems from envy, perhaps from a foolish snobbery towards “trade”, perhaps from a pathetic fear of going out and actually selling goods for a living, or perhaps from the common tendency to bite the hand that feeds. I worry that western societies’ generous welfare systems have made us so comfortable that too few have to visit factories to discover what commercial production really means, or see what happens when the capitalists leave – the private sector withers and there is no investment or lending. Greece is surely going to find out in the next few years, and the experience is likely to be unpleasant.
Economic affairs are cyclical, but this generation is so prosperous that it finds the prospect of a long recession almost too much to bear. We are all used to having a safe job, our own home or housing support, foreign holidays and all the rest. All this munificence is only possible because free enterprise incentivises entrepreneurs to build companies. From those undertakings flow work, exports, tax and the other elements which form modern civilisation. Disown all that, and the edifice crumbles. This appears to be what Greece is doing – embarking on a course of national suicide, thanks to a gargantuan sense of entitlement and dependency.
The usual cures to the “evil” of capitalism are put forward in the NYT article: more legislation, regulation and taxation. Yet those countries that are creating most jobs and seeing rising living standards – such as Brazil, Turkey and China – exact far fewer tolls on companies than we do in the west. The brilliant anti-business intellectuals would solve our problems of unemployment, debt and stagnant wages by doing the opposite of the policies adopted by the world’s most buoyant economies. Meanwhile, leftwing economists suggest that the cure for government deficits is even more debt.
That these assertions have found traction with electorates is depressing. Possibly, capitalism is poor at promoting the cause and explaining its merits. We need to counter myths propagated by the left that “shafting your workers, hurting your customers, destroying the land” is how the system works. If it were, every company would go broke.
No doubt most highly successful entrepreneurs are tough individuals. Some break the rules, but damning an entire class for the high-profile errors of the few is destructive and ill-judged. And this is the age of the whistleblower – if they were all crooks, surely they would get caught.
Moreover I suspect top professors, doctors, editors, architects, scientists and those at the summit of every profession are just as competitive and egotistical as leaders in the worlds of commerce and finance. I’ll bet that ruthless ambition – for fame, power and even money – is just as common in labs, lecture theatres and surgeries as the boardroom.
I suppose everyone facing hard times wants scapegoats for their present difficulties. Capitalism, bankers, entrepreneurs and the like all seem like suitable targets for blame. But if we abandon capitalism for collective ownership and central planning, we really will be acting like psychopaths.
lukej@riskcapitalpartners.co.uk
The writer runs Risk Capital Partners, a private equity firm, and is chairman of the Royal Society of Arts
[http://www.ft.com/cms/s/0/eb3d7cd8-9dc4-11e1-9a9e-00144feabdc0.html#ixzz1v1bn6Xok]

ecmCpm'inclusion

name::
* McsEngl.ecmCpm'inclusion,
* McsEngl.ecmCpm'exclusion,

_DESCRIPTION:
The lesson in all this is simple enough: Capitalism, in order to function well, needs to include the entire population. Relying on simple cash handouts and work opportunities, not elaborate and counterproductive social engineering, is the way to go.
[http://www.theglobalist.com/where-socialism-appears-to-work-a-close-up-look-at-evo-morales/]

ecmCpm'Market#cptEconomy74.1: attPar#

name::
* McsEngl.ecmCpm'Market,

ecmCpm'Organization

_CREATED: {2012-04-13}

name::
* McsEngl.ecmCpm'Organization,
* McsEngl.conceptEconomy323.46.12,
* McsEngl.org.capitalism@cptEconomy49.12,

_GENERIC:
* entity.whole.system.humans.organization.society'spart#cptEconomy540#

ecmCpm'resource

name::
* McsEngl.ecmCpm'resource,

_ADDRESS.WPG:
* The Zombie System: How Capitalism Has Gone Off the Rails
By Michael Sauga, October 23, 2014,
http://www.spiegel.de/international/business/capitalism-in-crisis-amid-slow-growth-and-growing-inequality-a-998598.html,
* http://www.nooz.gr/economy/poiniki-ereuna-kata-tis-jp-morgan-stis-ipa,

ecmCpm'job

name::
* McsEngl.ecmCpm'job,

_DESCRIPTION:
Richard D. Wolff
@profwolff
Capitalism: a system where most employees get jobs only if and when employers get profits from hiring us.

Our jobs are held hostage to their profiteering.

#HowCapitalismWorks
[https://twitter.com/profwolff/status/1076534583489953794]

ecmCpm'worker

_CREATED: {2012-04-02}

name::
* McsEngl.ecmCpm'worker,
* McsEngl.conceptEconomy323.46.11,
* McsEngl.worker.capitalism@cptEconomy49.11,

_GENERIC:
* entity.whole.systemBio.organism.animal.human.worker#cptEconomy364#

_SPECIFIC:
* entrepreneur#cptEconomy364.17#
* citizen-worker#cptEconomy364.1#
* employed-worker#cptEconomy364.11#
* employedNo-worker#cptEconomy364.12#
* employee
* employer
* foreign-worker
* infoTech-worker#cptEconomy364.35#
* investor#cptEconomy364.16#
* member-worker
* memberNo-worker
* self-employed
* service-worker#cptEconomy541.103.8#
* skilled-worker#cptEconomy364.2#
* skilledNo-worker
* skilledLaw-worker

SPECIFIC

name::
* McsEngl.capitalism.SPECIFIC#cptCore@cptEconomy768#,

_SPECIFIC: capitalism.alphabetically:
* capitalism.corporate
* capitalism.crony
* capitalism.developing
* capitalism.financial#cptEconomy323.46.3#
* capitalism.gambling
* capitalism.imperialism##
* capitalism.laissez_faire (leave it alone)
* capitalism.monopoly
* capitalism.mixed_economy#cptEconomy323.46.13#
* capitalism.state_monopoly
* capitalism.regulated
* capitalism.regulatedNo

_List_el:
ΚΡΑΤΙΚΟΣ ΚΑΠΙΤΑΛΙΣΜΟΣ,
ΜΟΝΟΠΩΛΙΑΚΟΣ ΚΑΠΙΤΑΛΙΣΜΟΣ,
ΠΡΟΜΟΝΟΠΩΛΙΑΚΟΣ ΚΑΠΙΤΑΛΙΣΜΟΣ,

ecmCpm.CORPORATE

name::
* McsEngl.ecmCpm.CORPORATE,
* McsEngl.conceptEconomy323.46.10,
* McsEngl.corporate-capitalism@cptEconomy49.10,

_DESCRIPTION:
Corporate capitalism is a term used in social science and economics to describe a capitalist marketplace characterized by the dominance of hierarchical, bureaucratic corporations, which are legally required to pursue profit.

The largest and most powerful businesses in the United States are corporations. A large proportion of the economy and labour market falls within joint stock company or corporate control.[1] In the developed world, corporations dominate the marketplace, comprising 50 percent or more of all businesses. Those businesses which are not corporations contain the same bureaucratic structure of corporations, but there is usually a sole owner or group of owners who are liable to bankruptcy and criminal charges relating to their business. Corporations have limited liability and remain less regulated and accountable than sole proprietorships.

Corporations are usually called public entities when parts of their business can be bought in the form of shares on the stock market. This is done as a way of raising capital to finance the investments of the corporation. The shareholders appoint the executives of the corporation, who are the ones running the corporation via a hierarchical chain of power, where the bulk of investor decisions are made at the top, and have effects on those beneath them.

Corporate capitalism has been criticized for the amount of power and influence corporations and large business interest groups have over government policy, including the policies of regulatory agencies and influencing political campaigns. Many social scientists have criticized corporations for failing to act in the interests of the people, and their existence seems to circumvent the principles of democracy, which assumes equal power relations between individuals in a society.[2]

Thomas Jefferson, one of the founders of the United States democratic system, said "I hope we shall crush ... in its birth the aristocracy of our moneyed corporations, which dare already to challenge our government to a trial of strength and bid defiance to the laws of our country".[3] Franklin D. Roosevelt, in an April 29, 1938 message to Congress, warned that the growth of private power could lead to fascism:

The first truth is that the liberty of a democracy is not safe if the people tolerate the growth of private power to a point where it becomes stronger than their democratic state itself. That, in its essence, is fascism—ownership of government by an individual, by a group, or by any other controlling private power.[4][5][6] ... The Growing Concentration of Economic Power. Statistics of the Bureau of Internal Revenue reveal the following amazing figures for 1935: "Ownership of corporate assets: Of all corporations reporting from every part of the Nation, one-tenth of 1 percent of them owned 52 percent of the assets of all of them."[4][6]

Dwight D. Eisenhower criticized the notion of the confluence of corporate power and de facto fascism,[7] but nevertheless brought attention to the "conjunction of an immense military establishment and a large arms industry"[8] in his 1961 Farewell Address to the Nation, and stressed "the need to maintain balance in and among national programs -- balance between the private and the public economy, balance between cost and hoped for advantage."[8]
[http://en.wikipedia.org/wiki/Corporate_capitalism]

ecmCpm.CRONY

name::
* McsEngl.ecmCpm.CRONY,
* McsEngl.conceptEconomy323.46.4,
* McsEngl.crony-capitalism@cptEconomy49.4,

_DESCRIPTION:
Crony capitalism is a term describing an allegedly capitalist economy in which success in business depends on close relationships between business people and government officials. It may be exhibited by favoritism in the distribution of legal permits, government grants, special tax breaks, and so forth.
Crony capitalism is believed to arise when political cronyism spills over into the business world; self-serving friendships and family ties between businessmen and the government influence the economy and society to the extent that it corrupts public-serving economic and political ideals.
[http://en.wikipedia.org/wiki/Crony_capitalism]

ecmCpm.FINANCIAL

_CREATED: {2011-04-15}

name::
* McsEngl.ecmCpm.FINANCIAL,
* McsEngl.conceptEconomy323.46.3,
* McsEngl.capitalismFinancial@cptEconomy49.3, {2011-07-21}
* McsEngl.existing-capitalism@cptEconomy49.3, {2011-04-16}
* McsEngl.financial-capitalism@cptEconomy49.3,
* McsEngl.speculative-capitalism@cptEconomy49.3,
* McsElln.υπαρκτός-καπιταλισμός@cptEconomy49.3,

_DESCRIPTION:
Financial capitalism is a form of capitalism where the intermediation of savings to investment becomes a dominant function in the economy, with implications for the political process and social evolution. It is different from the term finance capitalism, which derives from Marxist analysis.
[http://en.wikipedia.org/wiki/Financial_capitalism]

ecmCpm.GAMBLING

name::
* McsEngl.ecmCpm.GAMBLING,
* McsEngl.conceptEconomy323.46.5,
* McsEngl.gambling-capitalism@cptEconomy49.5,
* McsEngl.betting-capitalism@cptEconomy49.5,
* McsEngl.casino-capitalism@cptEconomy49.5,

_DESCRIPTION:
ΟΙ ΣΚΙΩΔΕΙΣ ΤΡΑΠΕΖΕΣ

Αναλυτικότερα οι τράπεζες, κυρίως οι τοπικές γερμανικές, με στόχο να αποφύγουν τις μελλοντικές υποχρεώσεις τους από την εφαρμογή της νέας συνθήκης της Βασιλείας, η οποία θα τις αναγκάζει σε Ίδια Κεφάλαια της τάξης του 10,5% επί των συνολικών δανείων τους, «μεταβιβάζουν» τις επισφάλειες (ρίσκα) τους σε εξειδικευμένους επενδυτές (σκιώδεις τράπεζες) - με αποτέλεσμα να ελαχιστοποιούν τα απαιτούμενα κεφάλαια τους, κάποιες φορές σε χαμηλότερα του 1% (δανείζοντας με επιτόκια 5%, επιτυγχάνουν έως και 500% κερδοφορία).

Η καινούργια αυτή «αισθητική επέμβαση» στους Ισολογισμούς τους ονομάζεται «Regulatory Capital Relief Trade / Reg Caps» - όπου οι σκιώδεις, ανεξέλεγκτες από τις Αρχές τράπεζες, οι οποίες στις Η.Π.Α. διαχειρίζονται πιστώσεις ύψους 16 τρις $ (οι κανονικές τράπεζες «μόλις» 13 τρις $), υψηλότερες δηλαδή από το συνολικό ΑΕΠ της υπερδύναμης, «αγοράζουν» τις επισφαλείς πιστώσεις των εμπορικών τραπεζών, «χρεώνοντας» τες με προμήθειες που ξεπερνούν το 15%. Η λειτουργία του απίστευτου αυτού «μηχανισμού ωραιοποίησης» των Ισολογισμών είναι η εξής:

(α) Η εμπορική τράπεζα προσφέρει πιστώσεις στους πελάτες της, ιδιώτες ή επιχειρήσεις, χωρίς να προσέχει ιδιαίτερα την πιστοληπτική τους ικανότητα (όπως ακριβώς συνέβη με τα ενυπόθηκα δάνεια χαμηλής εξασφάλισης στις Η.Π.Α.)

(β) Αρκετές χιλιάδες δανείων «συσκευάζονται» σε ένα «δομημένο» προϊόν. Τα ιδιαίτερα επικίνδυνα πιστωτικά «πακέτα» τώρα, τα δομημένα προϊόντα δηλαδή με το μεγαλύτερο ρίσκο (Junior Trance), «τιτλοποιούνται» και μεταβιβάζονται σε επενδυτές (σκιώδεις τράπεζες).

(γ) Οι επενδυτές αυτοί (για παράδειγμα κάποια Hedge Funds), αναλαμβάνουν το ρίσκο της απώλειας των πιστώσεων - χρεώνοντας την τράπεζα που τις μεταβιβάζει με υψηλά επιτόκια (έως και 15%).

(δ) Η τράπεζα, έχοντας μετατρέψει τα επισφαλή της δάνεια σε ασφαλή, αφού έχει μεταβιβάσει το ρίσκο της απώλειας τους (κάτι που λειτουργούσε στο παρελθόν με τα CDS και τις ασφαλιστικές εταιρίες, έως ότου κατέρρευσε η αγορά τους), δεν είναι υποχρεωμένη να τα εγγράψει στον Ισολογισμό της. Επομένως, έχει τη δυνατότητα να συνεχίσει την παροχή πιστώσεων, χωρίς να είναι υποχρεωμένη να αυξήσει τα Ίδια Κεφάλαια της (με αποτέλεσμα να μειώνεται η σχέση «Ίδια Κεφάλαια προς Πιστώσεις» στο 1% - αντί να παραμένει στο 10%).

(ε) Ο κίνδυνος της απώλειας των επισφαλών δανείων τώρα, τον οποίο έχουν αναλάβει τα Hedge funds από την τράπεζα, μεταφέρεται στους χρηματοδότες τους – που ακριβώς δεν γνωρίζει κανείς. Όπως υποθέτουν οι γνώστες της αγοράς, οι χρηματοδότες αυτοί είναι κρατικά επενδυτικά κεφάλαια, συνταξιοδοτικά ταμεία και πλούσιοι ιδιώτες - μέσω των ειδικών ιδρυμάτων που διαθέτουν.

(στ) Ολόκληρο το «παιχνίδι», η πιστωτική πυραμίδα δηλαδή, συνεχίζεται επ’ αόριστον – μέχρι εκείνη τη χρονική στιγμή, κατά την οποία θα εκραγεί ακόμη μία φορά η «φούσκα» και θα γκρεμισθεί η πυραμίδα (καπιταλισμός-καζίνο).
[http://www.casss.gr/PressCenter/Articles/2337.aspx, 2011-05-01]

ecmCpm.HYPOCRITE

_CREATED: {2015-01-18}

name::
* McsEngl.ecmCpm.HYPOCRITE,
* McsEngl.hypocrite-capitalism,

_DESCRIPTION:
The last stage of capitalism (financial, crony, gambling, ...) is the-hypocrite-capitalism.
The reason is because has no other means to seal the-inequalities it create, but hypocricy.
It begun with the-fascist-regimes of 1930s which called themselves 'socialist' and supported the-interests of very rich.
It is the today EU, which took the-losses of the-very-rich, put them on the-many, and SAVE them.
[hmnSngo.2015-01-18]

ecmCpm.IMPERIALISM

name::
* McsEngl.ecmCpm.IMPERIALISM,
* McsEngl.conceptEconomy323.46.1,
* McsEngl.imperialism@cptEconomy49.1,
* McsEngl.state-monopoly-capitalism@cptEconomy49.1,
* McsEngl.monopoly-capitalism-Lenin@cptEconomy49.1,

_DESCRIPTION:
"ΕΙΝΑΙ Ο ΚΑΠΙΤΑΛΙΣΜΟΣ ΣΤΟ ΑΝΩΤΑΤΟ ΚΑΙ ΤΕΛΕΥΤΑΙΟ ΣΤΑΔΙΟ ΑΝΑΠΤΥΞΗΣ ΤΟΥ, Ο ΚΑΠΙΤΑΛΙΣΜΟΣ ΠΟΥ ΑΠΟΣΥΝΤΙΘΕΤΑΙ ΚΑΙ ΠΕΘΑΙΝΕΙ, ΟΙ ΠΑΡΑΜΟΝΕΣ ΤΗΣ ΣΟΣΙΑΛΙΣΤΙΚΗΣ ΕΠΑΝΑΣΤΑΣΗΣ. ΤΟ ΚΥΡΙΟ ΧΑΡΑΚΤΗΡΙΣΤΙΚΟ ΓΝΩΡΙΣΜΑ ΤΟΥ ΙΜΠΕΡΙΑΛΙΣΜΟΥ, ΑΠΟ ΤΗΝ ΠΡΟΙΜΕΡΙΑΛΙΣΤΙΚΗ ΠΕΡΙΟΔΟ ΑΝΑΠΤΥΞΗΣ ΤΟΥ ΚΑΠΙΤΑΛΙΣΜΟΥ, ΕΙΝΑΙ Η ΚΥΡΙΑΡΧΙΑ ΣΤΗΝ ΟΙΚΟΝΟΜΙΚΗ, ΠΟΛΙΤΙΚΗ ΚΑΙ ΙΔΕΟΛΟΓΙΚΗ ΖΩΗ ΤΟΥ ΜΕΓΑΛΟΥ ΜΟΝΟΠΩΛΙΑΚΟΥ ΚΕΦΑΛΑΙΟΥ."
[ΛΕΞΙΚΟ ΠΟΛΙΤΙΚΗΣ ΟΙΚΟΝΟΜΙΑΣ 1983, 220#cptResource172#]
===
The theory of state monopoly capitalism was initially a Marxist doctrine popularised after World War II. Lenin had claimed in 1916 that World War I had transformed laissez-faire capitalism into monopoly capitalism, but he did not publish any extensive theory about the topic. The term refers to an environment where the state intervenes in the economy to protect large monopolistic or oligopolistic businesses from competition by smaller firms.[1]

Stamocap theory aims to define the final historical stage of capitalism following monopoly capitalism, consistent with Lenin's definition of the characteristics of imperialism in his short pamphlet of the same name.

Occasionally the stamocap concept also appears in neo-Trotskyist theories of state capitalism as well as in libertarian anti-state theories. The analysis made is usually identical in its main features, but very different political conclusions are drawn from it.
[http://en.wikipedia.org/wiki/Monopoly_capitalism]

ecmHmn.MARKET

_CREATED: {2012-12-24} {2012-06-03}

name::
* McsEngl.ecmHmn.MARKET,
* McsEngl.conceptEconomy323.49,
* McsEngl.conceptEconomy241,
* McsEngl.economy.market@cptEconomy241, {2012-06-03}
* McsEngl.market-economy@cptEconomy241, {2012-06-03}
* McsEngl.ecnMkt@cptEconomy241, {2012-06-03}

ecnMkt.Market-socialism

_CREATED: {2012-06-03}

name::
* McsEngl.ecnMkt.Market-socialism,
* McsEngl.conceptEconomy323.48.1,
* McsEngl.market-socialism@cptEconomy241.1, {2012-06-03}

_DESCRIPTION:
Market socialism refers to various economic systems where the means of production are either publicly owned or cooperatively owned and operated for a profit in a market economy. The profit generated by the firms would be used to directly remunerate employees or would be the source of public finance or could be distributed amongst the population through a social dividend.[1][2] Theoretically, the fundamental difference between market socialism and a non-market socialism is the existence of a market for the means of production and capital goods. Market socialism is distinguished from models of mixed economies, because unlike the mixed economy, models of market socialism are complete and self-regulating systems.[3]
Early forms of market socialism consisted of proposals for cooperative enterprises operating in a free-market economy, so that exploitation would be eliminated and individuals would receive the full product of their labor. Early market socialism was expressed by Ricardian socialists, mutualists and individualist anarchists and was based on the theories of classical economics.
Contemporary models of market socialism are based on neoclassical economic theory beginning in the early twentieth century. Early neoclassical models of socialism include a role for a central planning board (CPB) in setting prices to equal marginal cost in order to achieve pareto efficiency. Alternative models of market socialism outlined models where socially-owned enterprises operate free markets to maximize economic profit. In contemporary models proposed by economists such as John Roemer and James Yunker, public ownership is achieved through public ownership of equity.
Market socialism has also been used to refer to reformed economic systems in Marxist-Leninist states, such as the People's Republic of China, where a free price system is utilized for the allocation and distribution of all resources in the state sector. In this model, state ownership is reserved for "strategic" sectors of the economy. Within this model, the state would utilize indirect market mechanisms (fiscal, monetary and Industrial policy) to influence economic activity in the same manner governments affect economic decisions in capitalist economies, including the use of (external) regulation over the otherwise autonomously-operating state enterprises. However, proponents of this model do not consider it to be a form of market socialism in the neoclassical sense, and instead describe it as an alternative economic model called the "socialist market economy".[4]
[http://en.wikipedia.org/wiki/Market_socialism]

ecnMkt.Social-market-economy

_CREATED: {2012-06-03}

name::
* McsEngl.ecnMkt.Social-market-economy,
* McsEngl.conceptEconomy323.48.2,
* McsEngl.social-market-economy@cptEconomy241.2, {2012-06-03}

The social market economy (German: Soziale Marktwirtschaft) is the economic system implemented and promoted by most political parties in West Germany since World War II. It is based on the economic philosophy of Ordoliberalism of the Freiburg School. The economic-political instruments were implemented first by Ludwig Erhard, minister of economics under Konrad Adenauer's chancellorship (from 1949 to 1963), and Alfred Mόller-Armack, head of the policy department of the ministry of economics.
Model
The social market economy seeks a middle path between socialism and laissez-faire economic liberalism (i.e. a mixed economy), combining private enterprise with government regulation to establish fair competition, maintaining a balance between a high rate of economic growth, low inflation, low levels of unemployment, good working conditions, social welfare, and public services, by using state intervention.[1] The term "social" was chosen rather than "socialist" to distinguish the social market economy from a system in which the state directed economic activity and/or owned the means of production,[2] which are usually privately-owned in the social market model.
In a social market economy, collective bargaining is often done on a national level between national employers' organizations and national trade unions, not between individual corporations and unions.
Important figures in the development of the concept include Walter Eucken, Wilhelm Rφpke, Alexander Rόstow, Franz Bφhm, Franz Oppenheimer, and Alfred Mόller-Armack, who originally coined the term Soziale Marktwirtschaft.[3]
[http://en.wikipedia.org/wiki/Social_market_economy]

ecnMkt.Socialist-market-economy

_CREATED: {2012-06-03}

name::
* McsEngl.ecnMkt.Socialist-market-economy,
* McsEngl.conceptEconomy323.48.3,
* McsEngl.socialist-market-economy@cptEconomy241.3, {2012-06-03}

The socialist market economy of modern China consists of a mixture of state-owned enterprises with an open-market economy. It is based on Deng Xiaoping's political platform of socialism with Chinese characteristics (t ????????, s ????????, Zhongguσtθsθ shθhuμzhuyμ) and Reform and Opening (s ????, t ????, Gaigι Kaifΰng). It is the economic system in the People's Republic of China since the Chinese economic reform started in 1978 (see Economy of the People's Republic of China). Despite its formal title, this system has been widely cited as a form of state capitalism.[1]
Similar though much less extensive reforms were undertaken in Vietnam, where the economic system is called the Π?i M?i (lit. "New Age", trans. "Renovation") and socialist-oriented market economy.
Contents [hide]
1 Description
1.1 The state sector
2 History
3 Analysis
4 See also
5 References
[edit]Description

After the Great Leap Forward (1958-1961) and the ousting of the Gang of Four from power, Chairman Deng Xiaoping was willing to consider market-based methods of economic growth so as to revitalise China's economy. However, in doing so, he remained committed to the centralized control and the one-party state central to Leninism.
The socialist market economy is a concept first proposed by Deng Xiaoping in order to incorporate the market into the planned economy in the People's Republic of China, and later, to the Π?i M?i in Vietnam.[2] Following its implementation, this economic system has supplemented the centrally planned economy in the People's Republic of China, with high growth rates in GDP during the past decades have been attributed to it. Within this model, privately owned enterprises have become a major component of the economic system alongside the central state-owned enterprises and collective / township village enterprises.
However, the fundamental distinction between the Chinese and Western mixed-market economy models lies less in the implementation of the mixed economic model but rather in the degree of state-ownership and underlying authoritarian political philosophy, which eschews Western notions of democracy, individual rights, and the rule of law.[3]
This type of economic system is defended from a Stalinist perspective which states that a fully developed socialist planned economy can only come into existence after first establishing the necessary and comprehensive commodity market economy and letting it fully develop until it exhausts its historical stage and gradually transforms itself into a planned economy (the Stalinist Two-Stage theory of revolution). Proponents of this economic model distinguish it from Market socialism: Market socialists believe that economic planning is unattainable, undesirable or ineffective, and thus view the market as an integral part of socialism, whereas proponents of the socialist market economy view markets as a temporary phase in development of a fully planned economy.[4]
[edit]The state sector
By 2005 the market-oriented reforms, including privatisation, was virtually halted and partially reversed.[5] In 2006, the Chinese government announced that the armaments, power generation and distribution, oil and petrochemicals, telecommunications, coal, aviation and shipping industries had to remain under "absolute state control" and public ownership by law.[6] The state retains indirect control in directing the non-state economy through the financial system, which lends according to state priorities. Liberalization continues to be rolled back in the state-sector by the consolidation of state enterprises into large "national champions" with the goal of consolidating efforts and creating internationally competitive national industries.[7]
The state sector is concentrated in the 'commanding heights' of the economy with a growing private sector engaged primarily in commodity production and light industry. Centralized directive planning based on mandatory output requirements and production quotas has been superseded by the free-market mechanism for most of the economy and directive planning in large state industries.[8] A major difference from the old planned economy is the restructuring of state companies along a commercial basis, with the exception of 150 large state-owned enterprises that remain and report directly to the central government, most having a number of subsidiaries.[9]
By 2008, these state-owned corporations have become increasingly dynamic largely contributing to the increase in revenue for the state.[10][11] By 2009 the government considered a state insurance scheme to expand healthcare coverage.[12] The state-sector led the economic recovery process and increased economic growth in 2009 after the financial crises, partially because most of the Chinese stimulus package was directed towards these state-owned firms.[13] The state-sector make out 40 to 50 percent of China's GDP.[14]
[http://en.wikipedia.org/wiki/Socialist_market_economy]

ecnMkt.Socialist-oriented-market-economy

_CREATED: {2012-06-03}

name::
* McsEngl.ecnMkt.Socialist-oriented-market-economy,
* McsEngl.conceptEconomy323.48.4,
* McsEngl.socialist-oriented-market-economy@cptEconomy241.2, {2012-06-03}

The socialist-oriented market economy (Vietnamese: Kinh t? th? tru?ng theo d?nh hu?ng xγ h?i ch? nghia) is the official title given to the current economic system in the Socialist Republic of Vietnam. It is a product of the Π?i m?i economic reforms, which led to the replacement of the centrally-planned economy with a form of market-based mixed economy based on state-owned industry.
These reforms were undertaken to allow Vietnam to integrate with the global market economy.
Contents [hide]
1 Description
2 Theoretical basis
3 See also
4 References
[edit]Description

Vietnam's 6th Party Congress of the Communist Party initiated market-oriented reforms in 1986, known as Doi moi, which allowed for private ownership of small-scale enterprises to complement state and collectively-run enterprises, and introduced market elements in the distribution of such goods and services in state industries.[1] The result is what Vietnam calls a socialist-oriented market economy, a new economic model intended to be a transitional phase in the development of a full socialist economy, with the goal of improving productive forces and developing a firm material base for the foundation of socialism.[2] The socialist-oriented market economy is a multi-sectoral commodity economy regulated by the market, but under state management and largely under state ownership. It is similar to the Chinese Socialist market economy in that many forms of ownership, including cooperative/collective enterprises, communal, private and state ownership models, co-exist in the economy, with the state sector playing a decisive role.[3] Government officials maintain that the socialist-oriented market economy is consistent with Marxist theory, and is the key for Vietnam to solve the relations between growth and development, while being able to operate and co-exist in the modern global market.[4] The socialist-oriented market model has aroused less controversy than the Chinese socialist market economy because private business plays a much smaller role in the Vietnamese system, with most the means of production remaining firmly under state ownership and administration.[5] [6] The Communist Party of Vietnam has re-affirmed its commitment to the development of a socialist economy with its Doi Moi reforms.[7]
[edit]Theoretical basis

Proponents of socialist market economies defend their position from a Marxist perspective, stating that a planned socialist economy can only be brought about by first establishing the necessary comprehensive commodity market economy, letting it fully develop until it exhausts its historical stage and gradually transforms itself into a planned economy.[8] Proponents argue that the economic system of the former USSR and its satellite states attempted to go from a natural economy to a planned economy by decree, without passing through the necessary market economy phase of development.[9] Proponents of socialist-directed market economies distinguish themselves from market socialists by stating that market socialists believe that only through utilizing the market mechanism can socialism be achieved, and that market socialists believe planned economies are ineffective or undesirable.[10]
[http://en.wikipedia.org/wiki/Socialist-oriented_market_economy]

ecmCpm.MARKET-DICTATORSHIP

name::
* McsEngl.ecmCpm.MARKET-DICTATORSHIP,
* McsEngl.conceptEconomy323.46.7,
* McsEngl.market-dictatorship@cptEconomy49.7,

ecmCpm.MARKET-FUNDAMENTALISM

name::
* McsEngl.ecmCpm.MARKET-FUNDAMENTALISM,
* McsEngl.conceptEconomy323.46.6,
* McsEngl.market-fundamentalism@cptEconomy49.6,
* McsEngl.free-market-fundamentalism@cptEconomy49.6,
* McsEngl.free-market-extremism@cptEconomy49.6,

_DESCRIPTION:
Market fundamentalism (also known as free market fundamentalism) is a pejorative term applied to an exaggerated religious-like faith in the ability of unfettered laissez-faire or free market economic views or policies to solve economic and social problems.[1]

Critics of free market extremism have used the term to denote what they perceive as a misguided belief, or deliberate deception, that free markets provide the greatest possible equity and prosperity,[2] and that any interference with the market process decreases social well being. It can be shown that free markets maximise the total profits but not the highest level of well being for *all* of society. Users of the term include adherents of interventionist, mixed economy and protectionist positions,[3] as well as billionaires such as George Soros,[4] and economists such as Nobel Laureate Joseph Stiglitz.[5] Critics cite as fundamentalist the unshakable belief, even against the evidence, that unfettered markets maximize individual freedom, that they are the only means to economic growth and that society should adhere to their specific ideas of progress.[6][7][8] Ideas ascribed to fundamentalists include the belief that markets tend towards a natural equilibrium, and that the best interests in a given society are achieved by allowing its participants to pursue their own financial self-interest with no or little restraint or regulatory oversight.[1][9] While this might have been true in the middle ages, with world-wide conglomerates, or even merely large companies, the individual has no protection against fraud nor harm caused by products that maximise income by imposing externalities on the individual consumer as well as society.
...
The worldwide financial crisis of 2007-2010 is described by Joseph E. Stiglitz as the end of market fundamentalism:

In this sense, the fall of Wall Street is for market fundamentalism what the fall of the Berlin Wall was for communism—it tells the world that this way of economic organization turns out not to be sustainable. In the end, everyone says, that model doesn't work. Actually the model only failed the citizens, while working perfectly in ensuring profits for the Wall Street financial groups that run the USA, so privatising gain and socialising the risk when the markets fail to work as hoped.
This moment is a marker that the claims of financial market liberalization were bogus.[26]

—Joseph E. Stiglitz: "The Fall of Wall Street Is to Market Fundamentalism What the Fall of the Berlin Wall Was to Communism", Interview with Nathan Gardels, The Huffington Post, September 16th 2008
[edit]

ecmCpm.MODEL.A (ema: production-consumption)

_CREATED: {2015-01-29}

name::
* McsEngl.ecmCpm.MODEL.A (ema: production-consumption),
* McsEngl.capitalism.model.a@cptEconomy,
* McsEngl.economy.capitalism.model.a@cptEconomy,
* McsEngl.economy.model.a@cptEconomy,

* McsEngl.ema@cptEconomy,
* McsEngl.ecmCma@cptEconomy,

_DEFINITION:
ModelA is a-capitalist-economy with 2 systems, a-production and a-consumption, no political.
The-production-system has employers and employees.
It is a-closed-system.
[hmnSngo.2015-01-29]

ecmCpm.MIXED

_CREATED: {2012-11-15} {1994}

name::
* McsEngl.ecmCpm.MIXED,
* McsEngl.conceptEconomy323.46.13,
* McsEngl.conceptEconomy486,
* McsEngl.economy.mixed@cptEconomy486,
* McsEngl.mixed-economy@cptEconomy486,
* McsEngl.mixed-economy,

* McsElln.ΚΜΚ,
* McsElln.ΚΑΠΙΤΟΣΟΣΙΑΛΙΣΤΙΚΗ-ΟΙΚΟΝΟΜΙΑ,
* McsElln.ΚΡΑΤΙΚΟΜΟΝΟΠΩΛΙΑΚΟΣ-ΚΑΠΙΤΑΛΙΣΜΟΣ,
* McsElln.ΜΕΤΑΒΑΤΙΚΟΣ-ΤΡΟΠΟΣ-ΠΑΡΑΓΩΓΗΣ,
* McsElln.ΜΙΚΤΗ-ΟΙΚΟΝΟΜΙΑ,
* McsElln.ΟΙΚΟΝΟΜΙΑ.ΜΙΚΤΗ@cptEconomy486,

_GENERIC:
* entity.whole.systemHumans.economy.antagonism#cptEconomy323.24#
* entity.whole.systemHumans.economy#cptEconomy323#

_DESCRIPTION:
ΜΙΚΤΗ ΟΙΚΟΝΟΜΙΑ ονομάζω την μεταβατικη κοινωνία με στοιχεία 'καπιταλισμου' και 'σοσιαλισμού'.
[hmnSngo.1995-05]
===
ΜΙΚΤΕΣ ΟΙΚΟΝΟΜΙΕΣ είναι οι σημερινές οικονομίες.
[ΝΙΚΟΣ, ΙΟΥΛ. 1994]

ecmCpm.SOCIAL-MARKET-ECONOMY

_CREATED: {2012-05-04}

name::
* McsEngl.ecmCpm.SOCIAL-MARKET-ECONOMY,
* McsEngl.conceptEconomy323.19,
* McsEngl.ecmHmn.SOCIAL-MARKET-ECONOMY,
* McsEngl.economy.social-market@cptEconomy323.19, {2012-05-04}
* McsEngl.social-market-economy@cptEconomy323.19, {2012-05-04}

_DESCRIPTION:
The social market economy (German: Soziale Marktwirtschaft) is the economic system implemented and promoted by most political parties in West Germany since World War II. It is based on the economic philosophy of Ordoliberalism of the Freiburg School. The economic-political instruments were implementated first by Ludwig Erhard, minister of economics under Konrad Adenauer's chancellorship (from 1949 to 1963), and Alfred Mόller-Armack, head of the policy department of the ministry of economics.
Model
The social market economy seeks a middle path between socialism and laissez-faire economic liberalism (i.e. a mixed economy), combining private enterprise with government regulation to establish fair competition, maintaining a balance between a high rate of economic growth, low inflation, low levels of unemployment, good working conditions, social welfare, and public services, by using state intervention.[1] The term "social" was chosen rather than "socialist" to distinguish the social market economy from a system in which the state directed economic activity and/or owned the means of production,[2] which are usually privately-owned in the social market model.
In a social market economy, collective bargaining is often done on a national level between national employers' organizations and national trade unions, not between individual corporations and unions.
Important figures in the development of the concept include Walter Eucken, Wilhelm Rφpke, Alexander Rόstow, Franz Bφhm, Franz Oppenheimer, and Alfred Mόller-Armack, who originally coined the term Soziale Marktwirtschaft.[3]
[http://en.wikipedia.org/wiki/Social_market_economy]

ecmCpm.TRANSITION-ECONOMY

_CREATED: {2012-11-15}

name::
* McsEngl.ecmCpm.TRANSITION-ECONOMY,
* McsEngl.conceptEconomy323.46.14,
* McsEngl.transition-economy@cptEconomy49.14, {2012-11-15}
* McsEngl.transitional-economy@cptEconomy49.14, {2012-11-15}

_DESCRIPTION:
A transition economy or transitional economy is an economy which is changing from a centrally planned economy to a free market.[1] Transition economies undergo economic liberalization, where market forces set prices rather than a central planning organization. In addition to this trade barriers are removed, there is a push to privatize state-owned businesses and resources, and a financial sector is created to facilitate macroeconomic stabilization and the movement of private capital.[2] The process has been applied in China, the former Soviet Union and Communist bloc countries of Europe, and many third world countries and detailed work has been undertaken on its economic and social effects.

The transition process is usually characterized by the changing and creating of institutions, particularly private enterprises; changes in the role of the state, thereby, the creation of fundamentally different governmental institutions and the promotion of private-owned enterprises, markets and independent financial institutions.[3] In essence, one transition mode is the functional restructuring of state institutions from being a provider of growth to an enabler, with the private sector its engine. Another transition mode is change the way that economy grows and practice mode. The relationships between these two transition modes are micro and macro, partial and whole. The truly transition economics should include both the micro transition and macro transition.[citation needed] Due to the different initial conditions during the emerging process of the transition from planned economics to market economics, countries uses different transition model. Countries like P.R.China and Vietnam adopted a gradual transition mode, however Russia and some other East-European countries, such as the former Socialist Republic of Yugoslavia, used a more aggressive and quicker paced model of transition.[citation needed]

Contents [hide]
1 Transition indicators
2 Process
3 Countries in transition
4 Branch of economics
5 References
6 External links
[edit]Transition indicators

The existence of private property rights may be the most basic element of a market economy, and therefore implementation of these rights is the key indicator of the transition process.

The main ingredients of the transition process are:

Liberalization – the process of allowing most prices to be determined in free markets and lowering trade barriers that had shut off contact with the price structure of the world's market economies.
Macroeconomic stabilization – bringing inflation under control and lowering it over time, after the initial burst of high inflation that follows from liberalization and the release of pent-up demand. This process requires discipline over the government budget and the growth of money and credit (that is, discipline in fiscal and monetary policy) and progress toward sustainable balance of payments.[4]
Restructuring and privatization – creating a viable financial sector and reforming the enterprises in these economies to render them capable of producing goods that could be sold in free markets and transferring their ownership into private hands.
Legal and institutional reforms – redefining the role of the state in these economies, establishing the rule of law, and introducing appropriate competition policies.[5]
According to Oleh Havrylyshyn and Thomas Wolf of the International Monetary Fund, transition in a broad sense implies:

liberalizing economic activity, prices, and market operations, along with reallocating resources to their most efficient use;
developing indirect, market-oriented instruments for macroeconomic stabilization;
achieving effective enterprise management and economic efficiency, usually through privatization;
imposing hard budget constraints, which provide incentives to improve efficiency; and
establishing an institutional and legal framework to secure property rights, the rule of law, and transparent market-entry regulations.[6]
Edgar Feige, cognizant of the trade-off between efficiency and equity, suggests[7] that the social and political costs of transition adjustments can be reduced by adopting privatization methods that are egalitarian in nature, thereby providing a social safety net to cushion the disruptive effects of the transition process.

The European Bank for Reconstruction and Development (EBRD) developed a set of indicators to measure the progress in transition. The classification system was originally created in the EBRD's 1994 Transition Report, but has been refined and amended in subsequent Reports. The EBRD's overall transition indicators are:

Large-scale privatization
Small-scale privatization
Governance and enterprise restructuring
Price liberalization
Trade and foreign exchange system
Competition policy
Banking reform and interest rate liberalization
Securities markets and non-bank financial institutions
Infrastructure reform[8]
[edit]Process

Transition trajectories can be idiosyncratic. Some nations have been experimenting with market reform for several decades, while others are relatively recent adopters (e.g., Republic of Macedonia, Serbia and Montenegro). In some cases reforms have been accompanied with political upheaval, such as the overthrow of a dictator (Romania), the collapse of a government (the Soviet Union), a declaration of independence (Croatia), or integration with another country (East Germany). In other cases economic reforms have been adopted by incumbent governments with little interest in political change (China, Laos, Vietnam).[9] Transition trajectories also differ in terms of the extent of central planning being relinquished (e.g., high centralized coordination among the CIS states) as well as the scope of liberalization efforts being undertaken (e.g., relatively limited in Romania).

According to the World Bank's "10 Years of Transition" report "... the wide dispersion in the productivity of labour and capital across types of enterprises at the onset of transition and the erosion of those differences between old and new sectors during the reform provide a natural definition of the end of transition."[10] Mr. Vito Tanzi, Director of the IMF's Fiscal Affairs Department, gave definition that the transformation to a market economy is not complete until functioning fiscal institutions and reasonable and affordable expenditure programs, including basic social safety nets for the unemployed, the sick, and the elderly, are in place. Mr Tanzi stated that these spending programs must be financed from public revenues generated—through taxation—without imposing excessive burdens on the private sector.[11]

[edit]Countries in transition

Although the term "transition economies" usually covers the countries of Central and Eastern Europe and the Former Soviet Union, this term may have a wider context. There are countries outside of Europe, emerging from a socialist-type command economy towards a market-based economy (e.g., China). Moreover, in a wider sense the definition of transition economy refers to all countries which attempt to change their basic constitutional elements towards market-style fundamentals. Their origin could be also in a post-colonial situation, in a heavily regulated Asian-style economy, in a Latin American post-dictatorship or even in a somehow economically underdeveloped country in Africa.[3]

In 2000, the IMF listed the following countries with transition economies:[5]

Albania
Armenia
Azerbaijan
Belarus
Bulgaria
Cambodia
China
Croatia
Czech Republic
Estonia
Georgia
Hungary
Latvia
Lithuania
Kazakhstan
Kyrgyz Republic
Laos
Republic of Macedonia
Moldova
Poland
Romania
Russia
Slovak Republic
Slovenia
Tajikistan
Turkmenistan
Ukraine
Uzbekistan
Vietnam
In addition, in 2002 the World Bank defined Bosnia and Herzegovina, and the Federal Republic of Yugoslavia (later Serbia and Montenegro) as transition economies.[10] In 2009, World Bank included Kosovo in the list of transition economies.[12] Some World Bank studies also include Mongolia.[13] According to the IMF, Iran is in transition to a market economy, demonstrating early stages of a transition economy.[14]

Eight countries, which joined the European Union on 1 May 2004 (Czech Republic, Estonia, Hungary, Latvia, Lithuania, Poland, Slovakia, Slovenia) have completed the transition process.[15]

[edit]Branch of economics

Transition economics is a special branch of economics dealing with the transformation of a planned economy to a market economy. It has become especially important after the collapse of Communism in Central and Eastern Europe. Transition economics investigates how an economy should reform itself to endorse capitalism and democracy. There are usually two sides: one which argues for a rapid transformation and one which argues for a gradual approach. Gerard Roland's book Transition and Economics. Politics, Markets and Firms (MIT Press 2000) gives a good overview of the field. A more recent overview is provided in Transition Economies: Political Economy in Russia, Eastern Europe, and Central Asia by Martin Myant and Jan Drahokoupil.[16]
[http://en.wikipedia.org/wiki/Transition_economies]

ecmCpm.EVOLUTING#cptCore546.171#

name::
* McsEngl.ecmCpm.EVOLUTING,

The defining feature of each successive stage of global capitalism has been a shift in the boundary between economics and politics.
In classical nineteenth-century capitalism, politics and economics were idealized as distinct spheres, with interactions between government and business confined to the (necessary) raising of taxes for military adventures and the (harmful) protection of powerful vested interests.
In the second, Keynesian version of capitalism, markets were viewed with suspicion, while government intervention was assumed to be correct.
In the third phase, dominated by Thatcher and Reagan, these assumptions were reversed: government was usually wrong and the market always right.
The fourth phase may come to be defined by the recognition that governments and markets can both be catastrophically wrong.
[https://www.weforum.org/agenda/2016/04/is-capitalism-entering-a-new-era/ Anatole Kaletsky, Chief Economist, Institute for New Economic Thinking]

"At a certain stage of development, the material productive forces of society come into conflict with the existing relations of production or – this merely expresses the same thing in legal terms – with the property relations within the framework of which they have operated hitherto.
From forms of development of the productive forces these relations turn into their fetters. "
[http://www.marxists.org/archive/marx/works/1859/critique-pol-economy/preface.htm]
===
* BOOK-PUBLICATION:
Now we can have interlinked all information, but ownership of information, prevents it.
[hmnSngo.2014-10-06]

Η κεφαλαιοκρατικη παραγωγη εμφανίζεται σ'ολη την εκτασή της ΜΟΝΟ ΟΤΑΝ και ο αμεσος ΑΓΡΟΤΗΣ παραγωγος γίνει μισθωτος εργατης.
[ΜΑΡΞ ΚΕΦΑΛΑΙΟ ΙΙ, 1885, 114#cptResource119#]

=== ΚΕΦΑΛΑΙΟΚΡΑΤΙΚΗ ΕΠΟΧΗ: {time.World#cptCore321#; Economy#cptEconomy323#}:
ΜΟΛΟ ΠΟΥ ΤΙΣ ΠΡΩΤΕΣ ΑΡΧΕΣ ΤΗΣ ΚΕΦΑΛΑΙΟΚΡΑΤΙΚΗΣ ΠΑΡΑΓΩΓΗΣ ΤΙΣ ΒΡΙΣΚΟΥΜΕ ΚΙΟΛΑΣ ΣΠΟΡΑΔΙΚΑ ΣΤΟ 14ο ΚΑΙ 15ο ΑΙΩΝΑ ΣΕ ΜΕΡΙΚΕΣ ΠΟΛΕΙΣ ΤΗΣ ΜΕΣΟΓΕΙΟΥ, Η ΚΑΦΑΛΑΙΟΚΡΑΤΙΚΗ ΕΠΟΧΗ ΧΡΟΝΟΛΟΓΕΙΤΑΙ ΜΟΛΙΣ ΑΠΟ ΤΟ 16ο ΚΑΙ ΔΩ. ΕΚΕΙ ΠΟΥ ΚΑΝΕΙ ΤΗΝ ΕΜΦΑΝΙΣΗ ΤΗΣ ΕΧΕΙ ΣΥΝΤΕΛΕΣΤΕΙ ΑΠΟ ΚΑΙΡΟ Η ΚΑΤΑΡΓΗΣΗ ΤΗΣ ΔΟΥΛΟΠΑΡΟΙΚΙΑΣ ΚΙ ΑΠΟ ΑΡΚΕΤΟ ΚΑΙΡΟ ΕΧΕΙ ΑΡΧΙΣΕΙ ΝΑ ΣΒΗΝΕΙ ΤΟ ΠΙΟ ΛΑΜΠΡΟ ΠΟΥΧΕΙ ΔΟΣΕΙ Ο ΜΕΣΑΙΩΝΑΣ, Η ΥΠΑΡΞΗ ΚΥΡΙΑΡΧΩΝ ΠΟΛΕΩΝ.
[ΜΑΡΞ, ΤΟ ΚΕΦΑΛΑΙΟ 1, 740#cptResource118]

IMPORTANCE#cptCore781#

Σήμερα η υπεροχή στη ΒΙΟΜΗΧΑΝΙΑ συνεπαγεται την υπεροχη στο ΕΜΠΟΡΙΟ. Αντιθετα, στην καθαυτο ΠΕΡΙΟΔΟ ΤΗΣ ΜΑΝΟΥΦΑΚΤΟΥΡΑΣ η υπεροχη στο εμποριο είναι εκείνο που εξασφαλίζει τη βιομηχανικη κυριαρχια. Απο δω προέρχεται ο ΠΡΩΤΑΡΧΙΚΟΣ ΡΟΛΟΣ που έπαιξε τοτε το αποικιακο σύστημα.
[ΜΑΡΞ ΚΕΦΑΛΑΙΟ Ι, 1867, 778#cptResource118#]

ecmCmt'ENVIRONMENT#cptCore756#

name::
* McsEngl.ecmCmt'ENVIRONMENT,

ecmCmt'GOOD#cptEconomy541.101#

name::
* McsEngl.ecmCmt'GOOD,

commodity#cptEconomy72: attPar#

ecmCmt'commodity-exchange#cptEconomy3.14#

name::
* McsEngl.ecmCmt'commodity-exchange,

ecmCmt'economy-colony#cptEconomy323.44#

name::
* McsEngl.ecmCmt'economy-colony,

ecmCmt'exchange-value#cptEconomy541.109: attPar#

name::
* McsEngl.ecmCmt'exchange-value,

ecmCmt'lending#cptEconomy3.18#

name::
* McsEngl.ecmCmt'lending,

ecmCmt'money#cptEconomy541.115: attPar#

name::
* McsEngl.ecmCmt'money,

ecmCmt'morality

name::
* McsEngl.ecmCmt'morality,

The problem is that the price system knows neither of limits or morality.
[http://www.amazon.ca/Capital-Twenty-First-Century-Thomas-Piketty/dp/067443000X]

ecmCmt'sector#cptEconomy38#

name::
* McsEngl.ecmCmt'sector,

ΑΝΤΑΓΩΝΙΣΜΟΣ ΤΟΜΕΑ,

SPECIFIC

name::
* McsEngl.ecnCmdt.specific,

_SPECIFIC: ecnCmdt.alphabetically:
* economy.human.capitalism#cptEconomy323.46#
* economy.human.developed#cptEconomy323.39#
* economy.human.developing##
* economy.human.feudal#cptEconomy323.42#
* economy.human.information#cptCore1.44.3#
* economy.human.mixed#cptEconomy323.46.13#
* economy.human.slave#cptEconomy323.45#
* economy.human.socialism#cptEconomy323.47#
* economy.human.state#cptEconomy323.41#
* economy.human.underdeveloped#cptEconomy323.40#

_SPECIFIC: ecnCmdt.SPECIFIC_DIVISION.Productive_relations:
* economy.human.slave#cptEconomy323.45#
* economy.human.state#cptEconomy323.41#
* economy.human.feudal#cptEconomy323.42#
* economy.human.capitalism#cptEconomy323.46#
* economy.human.mixed#cptEconomy323.46.13#
* economy.human.socialism#cptEconomy323.47#

ecmHmn.BARTER

_CREATED: {2012-05-02}

name::
* McsEngl.ecmHmn.BARTER,
* McsEngl.conceptEconomy323.18,
* McsEngl.barter-economy@cptEconomy323.18, {2012-05-02}
====== lagoGreek:
* McsElln.ανταλλακτικη-οικονομια@cptEconomy323.18, {2012-07-12}

_DESCRIPTION:
Contrary to popular conception, there is no evidence of a society or economy that relied primarily on barter.[2] Instead, non-monetary societies operated largely along the principles of gift economics and debt.[3][4] When barter did in fact occur, it was usually between either complete strangers or would-be enemies.[5]
[http://en.wikipedia.org/wiki/Barter_economy]

Limitations of a barter economy
Need for presence of double coincidence of wants: For barter to occur between two people, both would need to have what the other wants.[16]
Absence of common measure of value: In a monetary economy, money plays the role of a measure of value of all goods, so their values can be measured against each other; this role may be absent in a barter economy.
Indivisibility of certain goods: If a person wants to buy a certain amount of another's goods, but only has for payment one indivisible unit of another good which is worth more than what the person wants to obtain, a barter transaction cannot occur.
Lack of standards for deferred payments: This is related to the absence of a common measure of value, although if the debt is denominated in units of the good that will eventually be used in payment, it is not a problem.
Difficulty in storing wealth: If a society relies exclusively on perishable goods, storing wealth for the future may be impractical. However, some barter economies rely on durable goods like pigs or cattle for this purpose.
[http://en.wikipedia.org/wiki/Barter_economy]

ecmHmn.BARTER.NO

name::
* McsEngl.ecmHmn.BARTER.NO,
* McsEngl.economy.monetised,
* McsEngl.monetary-economy@cptEconomy,
* McsEngl.monetised-economy,

ecmHmn.MONEY

_CREATED: {2012-12-24}

name::
* McsEngl.ecmHmn.MONEY,
* McsEngl.conceptEconomy323.50,
* McsEngl.money-economy@cptEconomy323.50, {2012-12-24}
* McsEngl.moneyed-economy, [http://yanisvaroufakis.eu/2014/05/08/digital-economies-markets-money-and-democratic-politics-revisited/]

_DESCRIPTION:
It is an economy which uses money.
[hmnSngo.2012-12-24]

Antithesis#cptCore763.1#

Body#cptCore538#

bankruptcy#cptCore999.6.38#

Distribution#cptEconomy74.41.1#

Equilibrium#cptEconomy323.26#

EVOLUTION#cptCore546.171#

evaluation#cptCore546.107#

hmnHouseholder#cptEconomy686.17#

Law#cptCore23#

Organization#cptEconomy540#

Property-relation#cptEconomy541.12#

Productive-force#cptEconomy1.2#

Productivity#cptEconomy323.34#

Satisfier#cptEconomy541#

Sector#cptEconomy38#

structure#cptCore515#

SPECIFIC

_SPECIFIC:
* ΠΡΩΤΟΓΟΝΗ-ΟΙΚΟΝΟΜΙΑ/primitive-economy#cptEconomy323.35#
* ΚΟΜΜΟΥΝΙΣΤΙΚΗ-ΟΙΚΟΝΟΜΙΑ/communist-economy#cptEconomy323.37#

ecmHmn.PRIMITIVE

name::
* McsEngl.ecmHmn.PRIMITIVE,
* McsEngl.conceptEconomy182,
* McsEngl.conceptEconomy323.35,
* McsEngl.ecnHmn.Primitive,
* McsEngl.economy-of-primitive-society,
* McsEngl.economy.primitive@cptEconomy182,
* McsEngl.primitive-economy,
====== lagoGreek:
* McsElln.ΟΙΚΟΝΟΜΙΑ-ΠΡΩΤΟΓΟΝΗΣ-ΚΟΙΝΩΝΙΑΣ,
* McsElln.ΟΙΚΟΝΟΜΙΑ.ΠΡΩΤΟΓΟΝΗ@cptEconomy182,
* McsElln.ΠΡΩΤΟΓΟΝΟ-ΚΟΙΝΟΤΙΚΟ-ΣΥΣΤΗΜΑ-ΠΑΡΑΓΩΓΗΣ,

_GENERIC:
* noncommodity-economy#cptEconomy323.36#

_DESCRIPTION:
ΠΡΩΤΟΓΟΝΗ ΟΙΚΟΝΟΜΙΑ είναι η ΜΗΕΜΠΟΡΕΥΜΑΤΙΚΗ-ΟΙΚΟΝΟΜΙΑ#cptEconomy215.1# της πρώτης ανθρώπινης κοινωνίας.
[hmnSngo.1995-05]
===
ΑΝΤΙΠΡΑΓΜΑΤΙΣΜΟΣ:
Η ΜΟΡΦΗ ΟΙΚΟΝΟΜΙΚΩΝ ΣΧΕΣΕΩΝ ΣΤΗΝ ΟΠΟΙΑ ΤΟ ΠΡΟΙΟΝ ΕΡΓΑΣΙΑΣ ΑΝΤΑΛΛΑΣΣΕΤΑΙ ΚΑΤ'ΕΥΘΕΙΑΝ ΚΑΙ ΑΜΕΣΑ ΜΕ ΑΛΛΟ ΠΡΟΙΟΝ, ΧΩΡΙΣ ΤΗ ΜΕΣΟΛΑΒΗΣΗ ΧΡΗΜΑΤΟΣ... ΕΜΦΑΝΙΣΤΗΚΕ ΑΡΧΙΚΑ ΣΤΗΝ ΠΡΩΤΟΓΟΝΗ ΚΟΙΝΩΝΙΑ
[ΛΕΞΙΚΟ ΠΟΛΙΤΙΚΗΣ ΟΙΚΟΝΟΜΙΑΣ 1983, 42#cptResource172#]

ecmHmn.DEVELOPED.LESS

_CREATED: {2012-03-30}

name::
* McsEngl.ecmHmn.DEVELOPED.LESS,
* McsEngl.conceptEconomy323.13,
* McsEngl.LEDC@cptEconomy323.13,
* McsEngl.less-economically-developed-country@cptEconomy323.13,

_DESCRIPTION:
In the 1970s, "less economically developed countries" (LEDCs) was the common term for markets that were less "developed" (by objective or subjective measures) than the developed countries such as the United States, Western Europe, and Japan. These markets were supposed to provide greater potential for profit, but also more risk from various factors. This term was felt by some to be not positive enough so the emerging market label was born. This term is misleading in that there is no guarantee that a country will move from "less developed" to "more developed"; although that is the general trend in the world, countries can also move from "more developed" to "less developed".
[http://en.wikipedia.org/wiki/Emerging_markets]

ecmHmn.DEVELOPED.UNDER

name::
* McsEngl.ecmHmn.DEVELOPED.UNDER,
* McsEngl.conceptEconomy323.40,
* McsEngl.conceptEconomy434,
* McsEngl.economy.uderdeveloped@cptEconomy434,
* McsEngl.uderdeveloped-economy@cptEconomy434,
* McsEngl.uderdeveloped-economy,
====== lagoGreek:
* McsElln.ΚΑΘΥΣΤΕΡΗΜΕΝΗ-ΟΙΚΟΝΟΜΙΑ,
* McsElln.ΟΙΚΟΝΟΜΙΑ'ΥΠΟΑΝΑΠΤΥΚΤΗ@cptEconomy434,
* McsElln.ΥΠΟΑΝΑΠΤΥΚΤΗ-ΟΙΚΟΝΟΜΙΑ,

_GENERIC:
* entity.whole.systemHumans.economy#cptEconomy323#