Sentences with phrase «modern economists»

Early modern economists thought that near - starvation was an inevitable aspect of any economy, and should not be fought against.

The horizons of modern economists are so limited that if we talked — I just imagine if we actually bumped into a modern neoclassical, knowing the training they've gotten in an academic world these days.

Modern economists don't talk much about Jevons Paradox, but they do admit that the problem exists and refer it to «rebound.»

Modern economists point out that cartels or monopolistic companies can artificially hold prices higher and keep them there in order to reap higher profits.

What Smith called ground rent is what his successor David Ricardo, followed by modern economists, have now defined as «economic rent»: that is, a payment to asset owners in excess of the amount needed to bring the asset into production.

Most modern economists generally believe that deflation is bad for economic activity because as the value of your currency continues to rise, it typically reduces spending and increases the real value of debt.

San Francisco, CA About Blog Blogs by Noah Smith Modern economist thinks history has entirely been banished by the humanities, and the philosophical tradition of pragmatism.

The motivations vary by discipline, but a short list would include the largely physical pleasure of the Utilitarians, the desire for survival of the Darwinians, the incestuous sexual cravings of the Freudians, the quest for power and class domination of the Marxists, and the blind search for unlimited affluence of modern economists.

Modern economists and behaviorists sometimes call this more realistic decision - making process «bounded rationality» — because a «fully rational» decision - making process which consider all options is impossible in the real world, decision makers simplify by self - limiting, or creating a boundary around, their options.

«A modern economist most likely would have identified the price rise in 1936 and 1937 as a temporary upswing in commodity prices that did not signal a significant increase in overall inflation,» Eggertsson writes.

Building on his insight, modern economists can demonstrate how great is the temptation (and financial reward) for producers whose control of a market allows them to restrict production and overcharge consumers.

This would be a true reversal of the dominant trends of the past two centuries, a new beginning, rather than the fulfillment of the modern economist's dream.

As Andy suggests with Adam Smith, and as I've suggested with other classical economists such as Malthus, David Ricardo, and John Stuart Mill, these folks had wide - ranging minds and saw the world in very different and more complex terms than do modern economists.