Argentina's paper economy has collapsed as a result of the government's following the teaching
of standard economic theory too faithfully.
A still more important factor ignored by Buchanan has been the victory
of the standard economic theory that 5 to 7 percent unemployment is needed to prevent inflation.
Not exact matches
However,
standard economic development
theory focused on increasing productivity, that is, the amount
of goods produced per hour
of human labor.
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.
Thus
standard growth
theory misses an essential feature
of this «
economic web»
of goods and services.
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.
«If the
standard economic theory is right,» he says, «most individuals will save almost all
of a payment.»
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 A
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 A
Economic Analysis.
Keywords: Risk management, measuring uncertainty, failure
of models that predict failure, complexity
theory,
standard out
of equilibrium level, irrational expectations on
economic rational actor model.
It is not an adaption to the conventional
economic equilibrium
theory but a
theory at a
standard out -
of -
Category: English, North America, Transversal Studies, Your experiences, Your ideas · Tags: complexity
theory, failure
of models that predict failure, irrational expectations on
economic rational actor model, measuring uncertainty, Risk management,
standard out
of equilibrium level
Standard economic theories of «
economic substitution» and «creative destruction» apply.
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.