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Technical, vocational education, and training has remained an explosive topic because it can create a divided society in terms of education and the benefits associated with it. Internationally, it has always been a complex and controversial topic compared to the general education strand. It has...
Persistent link: https://www.econbiz.de/10010337685
The role of first principles in economics is examined through the lens of dominant methodological approaches of the classical and neoclassical periods. First principles are most clearly displayed in pure deductive systems. The tension between first principles as the basis for deductivist...
Persistent link: https://www.econbiz.de/10011610133
After showing different criteria for assessing economic theories and in general terms the growth of (economic) knowledge, the essentials of classical British economic theory (Political Economy) are outlined. Next the scientific career and the genesis of the works of Ricardo are dealt with. The...
Persistent link: https://www.econbiz.de/10003826812
Persistent link: https://www.econbiz.de/10013271730
) steady state per capita growth, income distribution and employment rate are endogenous, and depend on the capitalists … employment rate and the labor share; (iv) an increase in workers' bargaining power raises the labor share, while reducing … employment and per-capita growth; (v) a balanced budget increase in the R&D subsidy also fosters per-capita growth, at the …
Persistent link: https://www.econbiz.de/10010225421
-production economy. The demand effect of investment on output, assumed much faster than its supply effect, works through employment …. The link between changes in employment, capacity utilization and investment has weakened, while productivity became more …
Persistent link: https://www.econbiz.de/10011862399
The principle of effective demand, and the claim of its validity for a monetary production economy in the short and in the long run, is the core of heterodox macroeconomics, as currently found in all the different strands of post-Keynesian economics (Fundamentalists, Kaleckians, Sraffians,...
Persistent link: https://www.econbiz.de/10011380154
The principle of effective demand, and the claim of its validity for a monetary production economy in the short and in the long run, is the core of heterodox macroeconomics, as currently found in all the different strands of post-Keynesian economics (Fundamentalists, Kaleckians, Sraffians,...
Persistent link: https://www.econbiz.de/10014582684
influencing employment. Workers buy "necessaries" out of their disposable wages from an integrated basic sector, whereas the …
Persistent link: https://www.econbiz.de/10011954059
Using the Cointegrated VAR framework, we provide evidence for the US manufacturing sector that the principle of effective demand in a growth context, by which a permanent demand shock has a permanent growth effect, is consistent with the stylized fact of a stationary rate of capacity...
Persistent link: https://www.econbiz.de/10009672478