By Phyllis Deane, Jessica Kuper
A useful paintings which serves as an advent to the topic and as a reference for all those that have to stay up to date with financial considering.
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752p. , the current learn at the Lingua Franca within the Levant has a double function: the translation of a definite (semantically and traditionally well-defined) zone of the Turkish vocabulary, and the demonstration, within the type of short etymological sketches, of the linguistic-cultural cohesion of the Mediterranean.
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Extra resources for A Lexicon of Economics (Social Science Lexicons)
In the 1970s, interest in long waves revived, and an alternative view is that business cycles are short-term fluctuations in economic activity around longer cycles or waves. In this case, business cycles will be analysed as growth cycles, with alternating rapid growth expansionary 32 BUSINESS CYCLES phases and slower growth contractionary phases (or recessions) during the upswing of the long wave; while during the downswing of the long wave they will involve periods of positive growth in the expansionary phase followed by periods of zero or negative growth in the contractionary phase (or depression).
Finally, Menger was the first of many Austrians to be concerned with monetary theory: he saw in money the most marketable commodity, and a medium of reserve held for precautionary reasons, with, consequently, a volatile velocity of circulation. The best-known contributions of Menger’s successors are Böhm-Bawerk’s (1959) attempts to measure capital in terms of waiting time, and his determinants of ‘the’ rate of interest. Wieser (1927 ) should be remembered for his notion that prices are, above all, informative, and therefore necessary for all private and social calculations (an idea which is now usually associated with Mises’s strictures on the impossibility of efficient socialist economies without market prices).
Clear rules of law are best exemplified in the antitrust legislation of the United States of America, reflecting the strong American preference for settling issues through the courts rather than by administrative action. Thus the Sherman Act (1890) declares illegal (Section 1) ‘every contract, combination…or conspiracy in restraint of trade or ANTITRUST LEGISLATION 13 commerce among the several States or with foreign nations’ and makes it a misdemeanour (Section 2) for any person ‘to monopolize or attempt to monopolize…any part of the trade or commerce…’.
A Lexicon of Economics (Social Science Lexicons) by Phyllis Deane, Jessica Kuper