Sentences with phrase «classical economic theory»

Yet another drop in the increasingly full bucket that classical economic theory is kind of absurd.

According to classical economic theory, people are selfish; they do whatever helps them the most.

From this point of view, classical economic theory from Adam Smith on, and Marxist theory as well, are paradigmatically modern, and both of the scenarios derived from the accounts summarized above, instead of breaking with the modern, carry it through with a more thoroughgoing consistency than ever before.

However, James Lloyd, PhD, DVM, dean of the University of Florida College of Veterinary Medicine, emphasized that because veterinary medical education is not a commodity, but a differentiated product with a limited number of providers, classical economic theories are unlikely to hold up.

Not exact matches

Classical portfolio theory holds that different sectors and asset classes outperform at different stages of the economic cycle.

The focus of classical value and price theory was to free economies from economic rent, defined as unearned income simply resulting from privilege: absentee land rent, mineral and natural resource rent, monopoly rent, and financial interest.

Adam Smith, the founder of classical liberal economic theory, was also deeply concerned with morality.

Classical and neo-classical economic theory, in contrast with Marxist economics, is also based on this atomistic individualism.

Even if Adam Smith was not directly exposed to Ibn - Khaldun's economic thoughts, the fact remains that they were the original seeds of classical economics and even modern economic theory.

Not only did Ibn - Khaldun plant the germinating seeds of classical economics, whether in production, supply, or cost, but he also pioneered in consumption, demand, and utility, the cornerstones of modern economic theory.

The advantage to use economic terminology instead of religious is that there are classical theories in economics that are logically developed in the science of economics (example: Von Mises among others).