Sentences with phrase «in standard economic theory»
Not exact matches
Given two assumptions, standard in economic theory, the judgment that individual selfishness promotes the common good should work.
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This helps explain why our debt burden has not yet triggered what standard economic theory would dictate: a steep decline in the value of the U.S. dollar followed by a severe contraction of the American economy when we found we could no longer afford the foreign goods we like so much.
Since the seventies I have been quite sure that standard economic theory is profoundly mistaken in its basic premises.
In terms of decision - making, the description of System 2 bears a close resemblance to the rational, general - purpose processor presupposed by standard economic theory.
Our approach to valuing pensions, which considers both the generosity and the risk of pension benefits, is entirely consistent with economic theory, the way in which liabilities of all types are valued in the private sector, public - sector accounting standards in Canada and Western Europe, academic writings, and the judgments of officials at nonpartisan government agencies such as the Congressional Budget Office, the Federal Reserve, and the Bureau of Economic Aeconomic theory, the way in which liabilities of all types are valued in the private sector, public - sector accounting standards in Canada and Western Europe, academic writings, and the judgments of officials at nonpartisan government agencies such as the Congressional Budget Office, the Federal Reserve, and the Bureau of Economic AEconomic Analysis.
Standard economic theory predicts that firms will not invest in general training and will underinvest in specific training.
Why it matters: Standard economic theory holds that borrowers should repay high - interest debts first in order to minimize interest payments.
With more demand in the debt market, standard economic theory suggests that mortgage rates would increase faster than they would have absent a higher deficit, raising the cost of financing a home.