Blog page 384

Bank Transfer Day

Bank Transfer Day was a consumer activism initiative calling for a voluntary switch from commercial banks to not-for-profit credit unions by November 5, 2011. As of October 15, 2011, a Facebook page devoted to the effort had drawn more than 54.90 ...

Deindustrialisation by country

Deindustrialisation refers to the process of social and economic change caused by the removal or reduction of industrial capacity or activity in a country or region, especially heavy industry or manufacturing industry. It is the opposite of indus ...

Deindustrialization

De-industrialization is a process of social and economic change caused by the removal or reduction of industrial capacity or activity in a country or region, especially of heavy industry or manufacturing industry. It is the opposite of industrial ...

Economic calculation problem

The economic calculation problem is a criticism of using economic planning as a substitute for market-based allocation of the factors of production. It was first proposed by Ludwig von Mises in his 1920 article "Economic Calculation in the Social ...

Economic impact of HIV/AIDS

HIV/AIDS affects economic growth by reducing the availability of human capital. Without proper prevention, nutrition, health care and medicine that is available in developing countries, large numbers of people are falling victim to AIDS. People l ...

Economic mobility

Economic mobility is the ability of an individual, family or some other group to improve their economic status - usually measured in income. Economic mobility is often measured by movement between income quintiles. Economic mobility may be consid ...

Escape from Affluenza

Escape from Affluenza is a 1998 PBS 56-minute documentary film produced as a sequel to the 1997 documentary Affluenza. While the original concentrates on affluenza--consumerism and materialism in modern society, the sequel focuses on how to avoid ...

Government failure

Government failure, in the context of public economics, is an economic inefficiency caused by a government intervention, if the inefficiency would not exist in a true free market. It can be viewed in contrast to a market failure, which is an econ ...

Innovation butterfly

The innovation butterfly is a metaphor that describes how seemingly minor perturbations to project plans in a system connecting markets, demand, product features, and a firms capabilities can steer the project, or an entire portfolio of projects, ...

Involuntary unemployment

Involuntary unemployment occurs when a person is willing to work at the prevailing wage yet is unemployed. Involuntary unemployment is distinguished from voluntary unemployment, where workers choose not to work because their reservation wage is h ...

Market fundamentalism

Market fundamentalism, also known as free-market fundamentalism, is a term applied to a strong belief in the ability of unregulated laissez-faire or free-market capitalist policies to solve most economic and social problems. The expression was po ...

Medical debt

Medical debt refers to debt incurred by individuals due to health care costs and related expenses. Medical debt is different from other forms of debt, because it is usually incurred accidentally or faultlessly. People do not plan to fall ill or h ...

Middle-class squeeze

The middle-class squeeze is the situation where increases in wages fail to keep up with inflation for middle-income earners leading to a relative decline in real wages, while at the same time, the phenomenon fails to have a similar effect on the ...

Economic oppression

Economic oppression may take several forms, including the practice of bonded labour in some parts of India; serfdom; forced labour; low wages; denial of equal opportunity; practicing employment discrimination; and economic discrimination based on ...

Pandemic

A pandemic is a disease epidemic that has spread across a large region, for instance multiple continents, or worldwide. A widespread endemic disease with a stable number of infected people is not a pandemic. Further, flu pandemics generally exclu ...

Retail apocalypse

The retail apocalypse is the closing of numerous North American brick-and-mortar retail stores, especially those of large chains, starting around 2010 and continuing onward. In 2019, US retailers announced 9.302 store closings, a 59% jump from 20 ...

Sacrifice zone

A sacrifice zone or sacrifice area is a geographic area that has been permanently impaired by environmental damage or economic disinvestment, often through locally unwanted land use. These zones are most commonly found in low-income and minority ...

Social stratification

Social stratification refers to societys categorization of its people into groups based on socioeconomic factors like wealth, income, race, education, gender, occupation, and social status, or derived power. As such, stratification is the relativ ...

Socialism for the rich and capitalism for the poor

Socialism for the rich and capitalism for the poor is a classical political-economic argument, stating that in the advanced capitalist societies state policies assure that more resources flow to the rich than to the poor, for example in the form ...

Socialist calculation debate

The socialist calculation debate, sometimes known as the economic calculation debate, was a discourse on the subject of how a socialist economy would perform economic calculation given the absence of the law of value, money, financial prices for ...

Societal collapse

Societal collapse is the fall of a complex human society. Such a disintegration may be relatively abrupt, as in the case of Maya civilization, or gradual, as in the case of the fall of the Western Roman Empire. The subject of societal collapse is ...

Sunshine tax

Sunshine tax or "Paradise tax" is an ironic term used in the United States and Canada to describe the phenomenon that salaries are often lower than the national average, and costs of living higher than the national average, in places that have a ...

Uneconomic growth

Uneconomic growth, in human development theory, welfare economics, and some forms of ecological economics, is economic growth that reflects or creates a decline in the quality of life. The concept is attributed to leading ecological economist and ...

Encyclopedia of World Problems and Human Potential

The Encyclopedia of World Problems and Human Potential is published by the Union of International Associations. It is available online since 2000, and was previously available as a CD-ROM and as a three-volume book. The online Encyclopedia is cur ...

Economics of religion

The economics of religion concerns both the application of economic techniques to the study of religion and the relationship between economic and religious behaviours. The relationship between religion and economic behaviour was first identified ...

Buddhist economics

Buddhist economics is a spiritual and philosophical approach to the study of economics. It examines the psychology of the human mind and the emotions that direct economic activity, in particular concepts such as anxiety, aspirations and self-actu ...

Religious views on capitalism

Religious views on capitalism have been philosophically diverse, with numerous religious philosophers defending the natural right to property while simultaneously expressing criticism at the negative social effects of materialism and greed.

Laurence Iannaccone

Laurence Robert Iannaccone is a Professor of Economics at Chapman University, Argyros School of Business and Economics, Orange County, California. Before moving to Chapman in 2009 he was a Koch Professor of Economics at George Mason University. H ...

Jewish views of poverty, wealth and charity

Over the course of Jewish history, different attitudes have been held towards poverty and wealth. Unlike Christianity, in which some strands have viewed poverty as virtuous and desirable, Jews have generally viewed poverty negatively. Jacobs and ...

Tithe

A tithe is a one-tenth part of something, paid as a contribution to a religious organization or compulsory tax to government. Today, tithes are normally voluntary and paid in cash or cheques, whereas historically tithes were required and paid in ...

Economic sector

One classical breakdown of economic activity distinguishes three sectors: Tertiary: involves the supplying of services to consumers and businesses, such as baby-sitting, cinema and banking. A shopkeeper and an accountant would be workers in the t ...

Primary sector of the economy

The primary sector of the economy includes any industry involved in primary production, that is the extraction and collection of natural resources; such as farming, forestry, hunting, fishing and mining. The primary sector tends to make up a larg ...

Secondary sector of the economy

The secondary sector of the economy including industries that produce a finished, usable product or are involved in construction. This sector generally takes the output of the primary sector and manufactures finished goods or where they are suita ...

Tertiary sector of the economy

The service sector is the third of the three economic sectors of the three-sector theory. The others are the secondary sector, and the primary sector. The service sector consists of the production of services instead of end products. Services als ...

Quaternary sector of the economy

The quaternary sector is the label used to describe a knowledge-based part of the economy, which typically includes knowledge-oriented economic sectors such as information technology, media, research and development; information-based services su ...

Informal economy

An informal economy is the part of any economy that is neither taxed nor monitored by any form of government. Although the informal sector makes up a significant portion of the economies in developing countries, it is sometimes stigmatized as tro ...

Private sector

The private sector is the part of the economy, sometimes referred to as the citizen sector, which is owned by private individuals or groups, usually as a means of enterprise for profit, rather than being owned by the State.

Three-sector model

The three-sector model in economics divides economies into three sectors of activity: extraction of raw materials, manufacturing, and services. According to the model, the main focus of an economys activity shifts from the primary, through the se ...

Unorganised sector (India)

The term unorganised sector when used in the Indian contexts defined by National Commission for Enterprises in the Unorganised Sector, in their Report on Conditions of Work and Promotion of Livelihoods in the Unorganised Sector as ". consisting o ...

Voluntary sector

The voluntary sector or civic sector is the duty of social activity undertaken by organizations that are non-governmental nonprofit organizations. This sector is also called the third sector, community sector, and nonprofit sector, in contrast to ...

Economic system

An economic system, or economic order, is a system of production, resource allocation and distribution of goods and services within a society or a given geographic area. It includes the combination of the various institutions, agencies, entities, ...

Anarchy

Anarchy is the state of a society being freely constituted without authorities or a governing body. It may also refer to a society or group of people that totally rejects a set hierarchy. The word anarchy was first used in 1539, meaning "an absen ...

Authoritarian capitalism

Authoritarian capitalism, or illiberal capitalism, is an economic system in which a capitalist market economy exists alongside an authoritarian government. Related to and overlapping with state capitalism, a system in which the state undertakes c ...

Breadwinner model

The breadwinner model is a paradigm of family centered on a breadwinner, "the member of a family who earns the money to support the others". Traditionally, the earner works outside the home to provide the family with income and benefits such as h ...

Collective ownership

Collective ownership is the ownership of means of production by all members of a group for the benefit of all its members. The breadth or narrowness of the group can range from a whole society to a set of coworkers in a particular enterprise. In ...

Common ownership

Common ownership refers to holding the assets of an organization, enterprise or community indivisibly rather than in the names of the individual members or groups of members as common property. Forms of common ownership exist in every economic sy ...

Commons-based peer production

Commons-based peer production is a term coined by Harvard Law School professor Yochai Benkler. It describes a model of socio-economic production in which large numbers of people work cooperatively; usually over the Internet. Commons-based project ...

Comparative economic systems

Comparative Economic Systems is the sub-field of economics dealing with the comparative study of different systems of economic organization, such as capitalism, socialism, feudalism and the mixed economy. It is widely held have been founded by th ...

Creative economy (economic system)

A creative economy is based on peoples use of their creative imagination to increase an ideas value. John Howkins developed the concept in 2001 to describe economic systems where value is based on novel imaginative qualities rather than the tradi ...

Decentralized planning (economics)

A decentralized-planned economy or decentrally-planned economy is a type of planned economy in which the investment and allocation of consumer and capital goods is explicated accordingly to an economy-wide plan built and operatively coordinated t ...