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v. t. e. The history of economic thought is the study of the philosophies of the different thinkers and theories in the subjects that later became political economy and economics, from the ancient world to the present day. This field encompasses many disparate schools of economic thought.
Underconsumption is a theory in economics that recessions and stagnation arise from an inadequate consumer demand, relative to the amount produced. In other words, there is a problem of overproduction and overinvestment during a demand crisis. The theory formed the basis for the development of Keynesian economics and the theory of aggregate ...
Neuroeconomics. Neuroeconomics is an interdisciplinary field that seeks to explain human decision-making, the ability to process multiple alternatives and to follow through on a plan of action. It studies how economic behavior can shape our understanding of the brain, and how neuroscientific discoveries can guide models of economics.
Economic diplomacy is a form of diplomacy that uses the full spectrum of economic tools of a state to achieve its national interests. The scope of economic diplomacy can encompass all of the international economic activities of a state, including, but not limited to, policy decisions designed to influence exports, imports, investments, lending, aid, free trade agreements, among others.
Fordism is an industrial engineering and manufacturing system that serves as the basis of modern social and labor-economic systems that support industrialized, standardized mass production and mass consumption. The concept is named after Henry Ford. It is used in social, economic, and management theory about production, working conditions ...
Immiserizing growth is a theoretical situation first proposed by Jagdish Bhagwati, in 1958, [1] where economic growth could result in a country being worse off than before the growth. If growth is heavily export based, it might lead to a fall in the terms of trade of the exporting country. In rare circumstances, this fall in the terms of trade ...
v. t. e. In economics, specifically general equilibrium theory, a perfect market, also known as an atomistic market, is defined by several idealizing conditions, collectively called perfect competition, or atomistic competition. In theoretical models where conditions of perfect competition hold, it has been demonstrated that a market will reach ...
The economics surrounding a single patent, or group of patents, revolves around the balance between the expense of maintaining the patent (s), and the income derived from owning that/those patents. [7] Similarly the economics of whether to seek a patent present similar concerns with the added up-front costs of obtaining the patent.