etymology
- used in biography of dr william dodd (1776 chron)
Physiocracy (French: Physiocratie; from the Greek for "government of nature") is an economic theory developed by a group of 18th-century Enlightenment French economists who believed that the wealth of nations was derived solely from the value of "land agriculture" or "land development" and that agricultural products should be highly priced. Their theories originated in France and were most popular during the second half of the 18th century. Physiocracy is perhaps the first well-developed theory of economics. The movement was particularly dominated by François Quesnay (1694–1774) and Anne-Robert-Jacques Turgot(1727–1781). It immediately preceded the first modern school, classical economics, which began with the publication of Adam Smith's The Wealth of Nations in 1776. The most significant contribution of the physiocrats was their emphasis on productive work as the source of national wealth. This is in contrast to earlier schools, in particular mercantilism, which often focused on the ruler's wealth, accumulation of gold, or the balance of trade. Whereas the mercantilist school of economics said that value in the products of society was created at the point of sale,[3] by the seller exchanging his products for more money than the products had "previously" been worth, the physiocratic school of economics was the first to see labor as the sole source of value. However, for the physiocrats, only agricultural labor created this value in the products of society. All "industrial" and non-agricultural labors were "unproductive appendages" to agricultural labor. "The physiocrats damned cities for their artificiality and praised more natural styles of living. They celebrated farmers." They called themselves Les Économistes, but are generally referred to as physiocrats to distinguish them from the many schools of economic thought that followed them.
Dirigisme or dirigism (from French diriger, meaning 'to direct') is an economic doctrine in which the state plays a strong directive role, as opposed to a merely regulatory role, over a capitalist market economy. As an economic doctrine, dirigisme is the counterpart to laissez-faire, stressing a positive role for state intervention in curbing productive inefficiencies and market failures. Dirigiste policies often include indicative planning, state-directed investment, and the use of market instruments (taxes and subsidies). The term emerged in the post-war era to describe the economic policies of France, which included substantial state-directed investment, the use of indicative economic planning to supplement the market mechanism, and the establishment of state enterprises in strategic domestic sectors. It resulted in an unprecedented economic and demographic growth, leading to the coinage of the term Trente Glorieuses ("Thirty Glorious [years]"). The term has subsequently been used to classify other economies that pursued similar policies, most notably the East Asian tiger economies, and more recently the economy of the People's Republic of China. A related concept is state capitalism. Most modern economies can be characterized as dirigiste to some degree – for instance, the state may exercise directive action by performing or subsidizing research and development of new technologies, through government procurement (especially military) or through state-run research institutes.
- Le terme dirigisme est en général utilisé pour désigner :
- Dans le cadre de l'économie, un ensemble de moyens où l'État supplée à l'initiative privée ;
- Un système où l'État assure l'orientation de l'activité économique par le contrôle du crédit, de la monnaie, de la fiscalité, de la politique du commerce extérieur, de la politique de la sécurité sociale, des salaires et des investissements ;
- Le dirigisme de l'État n'est pas exclusivement de nature économique et peut toucher également la sphère juridique, sociale et culturelle.
- economist 9mar19 "l'europe, c'est moi" european industrial policy
development economics
- [oxford illustrated encyclopedia edited by richard hoggart and published by oup in 1993] the study of economic structure, change and policy in low- and middle-income countries. The emergence of interest since ww2 is attributed to the gradual replacement of colonial power by independent governments with control over their economic policies and a determination to transform their economies from low income primary commodity production to modern industrial states. This was reinforced by the political interests of the major developed countries in promoting economic development (an interest fuelled by cold war rivalry) and greater public concern for the reduction of world-wide poverty. The pessimism about reducing poverty of classical economists such as ricardo and robert malthus has been replaced by guarded optimism, brought about by technological development and changes in international trade eg green revolution which raised agricultural productivity, and the emergence of newly industrializing countries notably in SE asia (taiwan, south korea, hk and singapore). There is considerable debate among economists about the appropriate role of government, with a growing school of monetarists and neo-classical economists arguing for minimum government intervention, viewing government failures as more significant than market failures. Others - often described as "structuralists", see the need for a strong role for government to help spread technological change in agriculture, promote industry, especially in the early stages of development, and to help ensure adequate provision of the goods and services necessary to meet basic needs.
development economics
- [oxford illustrated encyclopedia edited by richard hoggart and published by oup in 1993] the study of economic structure, change and policy in low- and middle-income countries. The emergence of interest since ww2 is attributed to the gradual replacement of colonial power by independent governments with control over their economic policies and a determination to transform their economies from low income primary commodity production to modern industrial states. This was reinforced by the political interests of the major developed countries in promoting economic development (an interest fuelled by cold war rivalry) and greater public concern for the reduction of world-wide poverty. The pessimism about reducing poverty of classical economists such as ricardo and robert malthus has been replaced by guarded optimism, brought about by technological development and changes in international trade eg green revolution which raised agricultural productivity, and the emergence of newly industrializing countries notably in SE asia (taiwan, south korea, hk and singapore). There is considerable debate among economists about the appropriate role of government, with a growing school of monetarists and neo-classical economists arguing for minimum government intervention, viewing government failures as more significant than market failures. Others - often described as "structuralists", see the need for a strong role for government to help spread technological change in agriculture, promote industry, especially in the early stages of development, and to help ensure adequate provision of the goods and services necessary to meet basic needs.
Voodoo economics is a slanderous phrase used by George H. W. Bush in reference to President Ronald Reagan's economic policies, which came to be known as "Reaganomics." It is an economic policy perceived as being unrealistic and ill-advised, in particular a policy of maintaining or increasing levels of public spending while reducing taxation.
- economist 16mar19 "magic or logic" a new macroecononomic idea is gaining in popularity. Eminent economists think it's nuts
game theory
- 「Game of Chicken」（懦夫博弈）
- 「懦夫博弈」的假設情景，意指兩名車手駕車直線朝對方撞去，忍不住先扭軚的一方淪為輸家，倘雙方均拒絕扭軚，最終會兩敗俱傷，而這個情景中，沒有所謂「雙贏」。魯比尼指的四個「懦夫博弈」，分別是中美貿易戰、美伊衝突、英國脫歐及阿根廷危機。https://orientaldaily.on.cc/cnt/finance/20190927/00202_014.html
Privately owned property
- exclusivity
- use privilege
- controllability
- transferability
Policy for properties
- regulatory
- access related
- quota droven
- price driven
- quality driven
- fiscal
- other public policies
Price guarantee
- http://www.economist.com/news/finance-and-economics/21643239-price-match-guarantees-prevent-rather-provoke-price-wars-guaranteed-profits “YOUR shopping would have been cheaper elsewhere, so here’s a voucher for the difference.” Anyone who has recently visited a British supermarket will be familiar with such seemingly generous deals, typically extended to shoppers after they pay. The four biggest British supermarket chains all offer some form of price-match guarantee, promising that their customers could not save any money by shopping elsewhere. On the face of it, they seem like a good thing: a sign that fierce competition is lowering prices. But economists have long been suspicious of such promises, which can leave consumers worse off. The problem is that price-match guarantees can blunt the logic of competition. Suppose a car dealership worries about a rival undercutting its prices and stealing customers. Even if the dealership can respond by cutting its prices too, it might lose sales in the interim. A price-match guarantee offers a pre-emptive defence. By promising to match any discounts, the dealership can persuade its customers that they need not shop around: they will always pay the lowest price available.
pricing method
- skimming pricing is a method of pricing that involves setting a high initial price for a new product, with a progressive lowering of the price as time passes and as the market broadens and matures. The objective is to maximise short-term profits.
- penetrating pricing is a pricing policy that involves setting low initial prices in order to gain quick acceptance in a broad portion of the market. It calls for the sacrifice of some short-term profits in order to gain a better long-term market share. The lower price is then often raised as the product moves into its growth stage. One objective is to obtain a committed sustomer. This policy is also used by a firm when consumer demand is price elastic.
- shadow prices constitute a form of opportunity cost if you consider it as the contribution margin that would be lost by not adding capacity
- absorption costing approach - pricing equals total cost plus profit markup. This approach covers all costs and should be employed when pricing new products and current business.
- contribution margin approach - price is set at the variable cost plus profit markup. Should be used when idle capacity exists.
- factors to be considered when establishing a price
- return on sales
- share of market
- age categorization
- economic breakdown
- regional location
- social aspects
- ethnic wants
- 荷蘭式拍賣http://hk.hkcd.com/pdf/202003/0330/HZ14330CECC_HKCD.pdf
money for nothing, cash handoouts
- 紐約州華裔企業家楊安澤去年參選民主黨總統初選時，曾提出向民眾派錢的「全民基本收入」（UPI）理念。他近日與紐約州哈德遜一個社區組織合作，自資六十萬美元（約四百六十八萬港元），連續五年向紐約上州廿名低收入居民每月派發五百美元（約三千九百港元），了解能否改善他們生活質素。https://orientaldaily.on.cc/cnt/china_world/20200514/00180_005.html- 為紓解民困，日本政府日前在內閣會議公布，將向截至四月廿七日為止在居民登記冊上本土國民發放「特別定額補貼」，但不包括海外僑民。內閣官房長官菅義偉事後稱，「自民黨內部存在爭議，相關部門正在處理課題」。外間估計，菅義偉言論暗示政府也考慮向海外日僑發放補貼。政府相關人士則指，由於難以確認海外僑民聯繫方式，估計難以完整劃一發放，「或許只有發出宣傳及廣告，辦理手續的人才能拿到補貼」。外務省調查顯示，日本二○一八年十月共有一百三十九萬人居住海外。https://orientaldaily.on.cc/cnt/china_world/20200612/00180_010.html
消費券
- 振興經濟消費券，通稱消費券，是中華民國政府為了因應2008年全球金融海嘯所帶來的消費緊縮效應，於2009年發放給全國人民的消費專用券，每人為新台幣3600元，面額有200元及500元兩種。包含消費券防偽印刷等行政費用，共舉債858億元。2008年11月，行政院經濟建設委員會建議以發放消費券方案來促進景氣活絡。經立法院立法通過《振興經濟消費券發放特別條例》，以舉債新台幣858億元（以台灣總人口約2,300萬人，每人3,600元估算）的方式籌措財源編列特別預算。為防止偽券流通，消費券由承印鈔券的中央印製廠印製，防偽措施與現金鈔券相似。 2009年1月18日當天（第一階段），於全國各縣市逾14,000個發券所發放，需持國民身分證（未滿20歲者需攜帶戶口名簿）、印章及領券通知單方可領取。[3]當日未領取者於同年（第二階段）2月7日至4月30日間可至通知單上之指定郵局領取，逾期不補發。有效使用期限至同年9月30日為止。而第二階段中的2月7日下午1時30分及2月8日全天，民眾在指定的郵局可領取消費券。
-bulgaria
- china
- usa
- france
- https://www.haaretz.com/israel-news/business/.premium-why-does-israel-have-soviet-style-butter-shortages-blame-bolshevism-1.8401672 When the state mandates the quantity of milk produced, its wholesale price, the retail price of dairy products and import volumes via high tariffs, the unavoidable outcome is a lack of butter. Finance Minister Moshe Kahlon is considering ending all this by lifting all tariffs on butter imports.Just as it was in the Soviet Union, in the Israel of 2020, whenever people see butter on the supermarket shelves, they buy up the stuff and stash it in the fridge to make sure they won’t run out. How is it that a Western, capitalist, advanced society has been lacking such a basic commodity for more than a year? It seems Kahlon has been asking himself the same question.Kahlon has announced that he’s leaving politics, which may be the reason he’s standing up to the aggressive agriculture lobby. Or maybe he simply realizes that the public is furious about the butter shortage.Israel’s butter battle is being waged between the Agriculture Ministry, which opposes any reform, and the Finance Ministry. The big question is whether the country should cap duty-free imports or simply not tax imports.Currently butter is subject to tariffs of 120% to 160%, which makes it economically unviable. This of course is to protect Israeli dairy producers.Israel’s dairy industry is a government-planned cartel: The state tells the dairy farmers how much milk each can produce. It dictates the wholesale price they receive from the three large dairy manufacturers: Strauss, Tara and Tnuva. And it dictates import duties on competing products and retail prices for many products so that Tnuva can’t take advantage of its monopoly status. The unavoidable consequence is inefficiency and shortages.The butter problem began when Tara shuttered its butter production at the end of 2018, opting to manufacture more profitable products as opposed to fixed-price butter. Tnuva, Israel’s main butter producer, didn’t increase production to compensate for Tara’s departure from the market.
tax to alter behaviour
- 一六九六年，英國政府開始按建築物的窗戶數目徵收「窗戶稅」。房子的窗戶越多，業主就要承擔更高的窗戶稅。初次聽說窗戶稅的人常以為這是政府腦袋一熱想出來的，但其實窗戶稅是有其合理及巧妙的一面。與小市民相比，富貴人家的住宅面積更大，窗戶當然就更多。因此，越富的人交的稅就越多。這不僅反映了「納稅的能力越強，承擔的稅賦更高」的縱向公平原則，也更有利於社會財富的重新分配。此外，為了採光、通氣和賞景，窗戶都是開在顯眼的地方，所以不容易逃稅。稅務官不用進屋，在外面數一數窗戶，就能計算出業主應該繳納多少稅。窗戶稅以公平為目的，徵收方式便捷透明，選用的稅基又使逃稅困難──幾乎完美！然而，沒想到業主為了錢包寧願放棄陽光、空氣和美景，將窗戶封上。當政府於十八世紀末大幅度地提高窗戶稅，幾千扇窗戶在一夜間被木板和磚塊堵死。在這場封窗運動中，最受罪的是城市的勞動人民。他們負擔不起自己的獨立屋，只能擠在廉價公寓裏的劏房。由於窗戶稅是按照整棟公寓的窗戶總數計算，因此為了降低成本，房東把能封的窗戶都封上了。新建的公寓也盡量減少窗戶的數目，例如愛丁堡的一座新公寓，二樓整排的卧室裏一扇窗戶都沒有。在這些通風不足的陰暗房間裏，霍亂和天花肆虐蔓延，人們的怨氣也找不到宣泄的窗口。窗戶稅本是一個富人稅，最後卻讓窮人吃了苦頭。當政府於一八五一年將其廢除時，大家都鬆了一口氣。雖然窗戶稅沒有達到預期的效果，但它證明了一件事：若想人們迅速地改變他們的行為模式，稅法也許是一個不錯的切入點。http://paper.takungpao.com/resfile/PDF/20200514/PDF/b4_screen.pdf
quantitative easing/printing money
- Modern Monetary Theory, MMT
hyperinflation
- venezuela
duopoly
- models
- https://www.economist.com/news/finance-and-economics/21739976-once-wildest-emerging-markets-thailand-ageing-fast-its-economic
association
- The Mont Pelerin Society (MPS) is an international classical liberal organization[2] composed of economists, philosophers, historians, intellectuals and business leaders.[3] The members see the MPS as an effort to interpret in modern terms the fundamental principles of economic society as expressed by classical Western economists, political scientists and philosophers. Its founders included Friedrich Hayek, Frank Knight, Karl Popper, Ludwig von Mises, George Stigler and Milton Friedman. The society advocates freedom of expression, free market economic policies and the political values of an open society. The MPS was created on 10 April 1947 at a conference organized by Friedrich Hayek. Originally, it was to be named the Acton-Tocqueville Society. After Frank Knight protested against naming the group after two "Roman Catholic aristocrats" and Ludwig von Mises expressed concern that the mistakes made by Acton and Tocqueville would be connected with the society, the decision was made to name it after Mont Pèlerin, the Swiss resort where it convened.
Economists
- Sir Thomas Gresham the Elder (/ˈɡrɛʃəm/; c. 1519 – 21 November 1579), was an English merchant and financier who acted on behalf of King Edward VI (1547–1553) and Edward's half-sisters, queens Mary I (1553–1558) and Elizabeth I(1558–1603). In 1565 Gresham founded the Royal Exchange in the City of London. Born in London and descended from an old Norfolk family, Gresham was one of two sons and two daughters of Sir Richard Gresham, a leading City merchant mercer and Lord Mayor of London, who was knighted by King Henry VIII for negotiating favourable loans with foreign merchants.
- Thomas Robert Malthus FRS (/ˈmælθəs/; 13 February 1766 – 23 December 1834) was an English cleric and scholar, influential in the fields of political economy and demography.[2] Malthus himself used only his middle name, Robert. In his 1798 book An Essay on the Principle of Population, Malthus observed that an increase in a nation's food production improved the well-being of the populace, but the improvement was temporary because it led to population growth, which in turn restored the original per capita production level. In other words, mankind had a propensity to utilize abundance for population growth rather than for maintaining a high standard of living, a view that has become known as the "Malthusian trap" or the "Malthusian spectre". Populations had a tendency to grow until the lower class suffered hardship and want and greater susceptibility to famine and disease, a view that is sometimes referred to as a Malthusian catastrophe. Malthus wrote in opposition to the popular view in 18th-century Europe that saw society as improving and in principle as perfectible.[4] He saw population growth as being inevitable whenever conditions improved, thereby precluding real progress towards a utopian society: "The power of population is indefinitely greater than the power in the earth to produce subsistence for man".[5] As an Anglican cleric, Malthus saw this situation as divinely imposed to teach virtuous behaviour.[6] Malthus wrote:
- Georg Friedrich List (6 August 1789 – 30 November 1846) was a German economist with dual American citizenship[2] who developed the "National System", also known as the National System of Innovation.[3] He was a forefather of the German historical school of economics,[4] and argued for the German Customs Union from a Nationalist standpoint.[5] He advocated imposing tariffs on imported goods while supporting free trade of domestic goods, and stated the cost of a tariff should be seen as an investment in a nation's future productivity.
- Michel Chevalier (French: [ʃə.va.lje]; 13 January 1806 – 18 November 1879) was a French engineer, statesman, economist and free market liberal. Born in Limoges, Haute-Vienne, Chevalier studied at the École Polytechnique, obtaining an engineering degree at the Paris École des mines in 1829. In 1830, after the July Revolution, he became a Saint-Simonian, and edited their paper Le Globe. The paper was banned in 1832, when the "Simonian sect" was found to be prejudicial to the social order, and Chevalier, as its editor, was sentenced to six months imprisonment. After his release, Minister of the Interior Adolphe Thiers sent him in 1834 on a mission to the United States and Mexico, to observe the state of industrial and financial affairs in the Americas. In the United States, Chevalier visited different parts of the country studying American society, its manners and political, social, and economic institutions. He made some keen observations along the way that were published in France by the Journal des débats producing at the time "an immense effect".[2] In Mexico he exchanged ideas with the mineralogist and politician Andrés Manuel del Río. It was during this trip that he also developed the idea that the Spanish-speaking and Portuguese-speaking parts of the Americas shared a cultural or racial affinity with all the European peoples with a Romance culture. Chevalier postulated that this part of the Americas were inhabited by people of a "Latin race," which could be a natural ally of "Latin Europe" in its struggle with "Teutonic Europe," "Anglo-Saxon America" and "Slavic Europe."[3] The idea was later taken up by French and Latin American intellectuals and political leaders of the mid and late nineteenth century, who no longer looked to Spain or Portugal as cultural models, but rather to France, and who coined the term "Latin America." In 1837, he wrote a well received work, Des intérèts matériels en France, after which his career took off. At age 35, he was appointed professor of political economy at the Collège de France. In 1839, letters that he sent to France during his mission to North America were translated and edited by Thomas Gamaliel Bradford and published in the United States as, Society, manners and politics in the United States; being a series of letters on North America.[6] Orestes Brownson reviewed the book and wrote that, "The work itself is highly important and interesting, and is well worth the perusal and even the study of every American citizen."Chevalier was an early member of the Société d'économie politique organized in 1842 by Pellegrino Rossi.[8] He was elected a député for the département of Aveyron in 1845, an appointment of Senator followed in 1860. In 1859, he was elected a foreign member of the Royal Swedish Academy of Sciences. Together with Richard Cobden and John Bright he prepared the free trade agreement of 1860 between the United Kingdom and France, which is still called the Cobden-Chevalier Treaty.
- Friedrich Hayek CH (German: [ˈfʁiːdʁɪç ˈaʊ̯ɡʊst ˈhaɪ̯ɛk]; 8 May 1899 – 23 March 1992), born in Austria-Hungary as Friedrich August von Hayek and frequently referred to as F. A. Hayek, was an Austrian andBritish economist and philosopher best known for his defense of classical liberalism. Hayek shared the 1974 Nobel Memorial Prize in Economic Sciences withGunnar Myrdal for his "pioneering work in the theory of money and economic fluctuations and ... penetrating analysis of the interdependence of economic, social and institutional phenomena."Hayek was concerned about the general view in Britain's academia that fascism was a capitalist reaction to socialism and The Road to Serfdom arose from those concerns. It was written between 1940 and 1943. The title was inspired by the French classical liberal thinkerAlexis de Tocqueville's writings on the "road to servitude."[36] It was first published in Britain by Routledge in March 1944 and was quite popular, leading Hayek to call it "that unobtainable book," also due in part to wartime paper rationing.[37] When it was published in the United States by the University of Chicago in September of that year, it achieved greater popularity than in Britain.[38] At the arrangement of editor Max Eastman (an ardent socialist), the American magazine Reader's Digest also published an abridged version in April 1945, enabling The Road to Serfdom to reach a far wider audience than academics. The book is widely popular among those advocating individualism and classical liberalism.
- Ronald Harry Coase (/ˈkoʊs/; 29 December 1910 – 2 September 2013) was a British economist and author. He was the Clifton R. Musser Professor of Economics at the University of Chicago Law School, where he arrived in 1964 and remained for the rest of his life. He received the Nobel Memorial Prize in Economic Sciences in 1991.Coase, who believed economists should study real markets and not theoretical ones, established the case for the corporation as a means to pay the costs of operating a marketplace.[2] Coase is best known for two articles in particular: "The Nature of the Firm" (1937), which introduces the concept of transaction costs to explain the nature and limits of firms, and "The Problem of Social Cost" (1960), which suggests that well-defined property rights could overcome the problems of externalities (see Coase theorem).
- Milton Friedman (/ˈfriːdmən/; July 31, 1912 – November 16, 2006) was an American economist who received the 1976 Nobel Memorial Prize in Economic Sciences for his research on consumption analysis, monetary history and theory and the complexity of stabilization policy.[4] With George Stigler and others, Friedman was among the intellectual leaders of the second generation of Chicago price theory, a methodological movement at the University of Chicago's Department of Economics, Law School and Graduate School of Business from the 1940s onward. Several students and young professors who were recruited or mentored by Friedman at Chicago went on to become leading economists, including Gary Becker, Robert Fogel, Thomas Sowell[5] and Robert Lucas Jr.
- Armen Albert Alchian (/ˈɑːltʃiən/; April 12, 1914 – February 19, 2013) was an Americaneconomist and professor of economics at the University of California, Los Angeles.Alchian was born in Fresno, California into a family with Armenian background. He attended California State University, Fresnofor two years before transferring to Stanford University in 1934, where he earned both a B.A. (1936) and a Ph.D. (1944). He served as a statistician with the USA Army Air Corps, from 1942 to 1946. In 1946, he joined the Economics Department at UCLA, where he spent the rest of his career. For many years, he was affiliated with the Rand Corporation. Alchian was elected a Fellow of the American Academy of Arts and Sciences in 1978.[1] In 1996, he became a Distinguished Fellow of the American Economic Association and in 2010 he received an honorary doctorate degree from Universidad Francisco Marroquín.[2] He is told to have been a member of Mont Pelerin Society. Alchian was married to Pauline Alchian for 73 years. He had two children, six grandchildren and three great-grandchildren. Alchian is the founder of the "UCLA tradition" in economics, a member of the Chicago school of economics, and one of the more prominent price theorists of the second half of the 20th century. He is the author of pathbreaking articles on information and uncertainty, and the theory of the firm.[4] Through his writings on property rights and transaction costs, he is a founder of the new institutional economics. Alchian's writings have touched on topics conventionally viewed as macroeconomic: money, inflation, unemployment, and the theory of business investment. His writings are characterized by lucid witty exposition and a minimum of mathematical formalism.
- Sho-Chieh Tsiang 蔣碩傑（1918年8月25日－1993年10月21日），湖北應城人，生於上海，傑出經濟學專家，中央研究院院士。蔣作賓之四子。父蔣作賓曾任國民政府陸軍部次長（1913年）、國民政府的第一任駐德國公使兼駐奧地利全權公使、駐日公使和首任駐日大使、內政部部長(1935年12月12日-1937年11月20日)及安徽省政府主席。長兄蔣碩民曾留學德國（1927年）取得格丁根大學數學博士，回國任南開大學教授。蔣碩傑1921年開始與兄、姊共同受教於家庭教師朱子秋（後留日）。1926年他插班進入姨母張默君創辦的神州女學附屬小學四年級。1928年轉學南洋中學附屬高小二年級，並於翌年進入南洋中學。16歲到日本讀過慶應大學預科。21歲到28歲這八年，蔣碩傑先後就讀於英國倫敦政治經濟學院和劍橋大學，1941年獲得倫敦政經學院經濟學學士。1943年由經濟學大師哈耶克推薦得到獎學金重回倫敦政經學院的研究所。當年11月份在經濟學刊撰文批駁凱因斯人口成長與就業關係的文章。1944年又於經濟學刊發表批判尼古拉斯·卡爾多股票投機學說的文章。之後撰文批評劍橋大學資深教授庇古所著《就業與均衡》部份內容之錯誤，庇古認錯並修改其書中二章內容。1945年以流動分析（flow approach）理論探討經濟發展，獲得經濟學博士。 在倫敦政經學院就學期間，蔣碩傑曾發表數篇論文刊登在該校主辦的學術期刊《經濟學刊》上，更獲得象徵最佳論文的「赫其森銀牌獎」（Hutchinson Silver Medal）。其後，蔣陸續任職於國立北京大學、國際貨幣基金組織、美國羅徹斯特大學和康奈爾大學，回國後出任台灣經濟研究院首任院長，之後又擔任首任中華經濟研究院院長。1981年，主張穩定物價優先，與王作榮進行蔣王論戰，是台灣首次在報紙上討論國家經濟方針。1982年，蔣碩傑曾獲諾貝爾經濟學獎提名，是首位獲提名的華人經濟學家，但他並未得獎。其女蔣人瑞，芝加哥大學教授，其女婿拉爾斯·彼得·漢森為2013年諾貝爾經濟學獎得主。
- Bruno Leoni (26 April 1913, Ancona – 21 November 1967, Turin) was an Italian classical-liberal political philosopher and lawyer. Whilst the war kept Leoni away from teaching, in 1945 he became Full professor of Philosophy of Law. Leoni was also appointed Dean of the Department of Political Sciences at the University of Pavia from 1948 to 1960. Leoni fought in WWII as part of the “A Force”, an organization that rescued prisoners of war (POWs) in Italy after 1943. Leoni was the founder and editor of the political science journal Il Politico.[2] He was also involved as secretary and later president of the Mont Pelerin Society. Following Richard Posner, Leoni has been also one of the fathers of the Law and Economics school. Leoni died prematurely (aged 54) in Alpignano, under tragic circumstances, killed in 1967 by Osvaldo Quero. In 2003, Italian libertarian scholars Carlo Lottieri, Alberto Mingardi and Carlo Stagnaro founded the Bruno Leoni Institute, a free-market think-tank.
- Robert L. Heilbroner (March 24, 1919 – January 4, 2005) was an American economist and historian of economic thought. The author of some 20 books, Heilbroner was best known for The Worldly Philosophers: The Lives, Times and Ideas of the Great Economic Thinkers (1953), a survey of the lives and contributions of famous economists, notably Adam Smith, Karl Marx, and John Maynard Keynes. Heilbroner was born in 1919, in New York City, to a wealthy German Jewish family. His father, Louis Heilbroner, was a businessman who founded the men's clothing retailer Weber & Heilbroner.[2]Robert graduated from Harvard Universityin 1940 with a summa cum laude degree in philosophy, government and economics. During World War II, he served in the United States Army and worked at the Office of Price Control under John Kenneth Galbraith, the highly celebrated and controversial Institutionalist economist. After the war, Heilbroner worked briefly as a banker and entered into academia in the 1950s as a research fellow at the New School for Social Research. During this period, he was highly influenced by the German economist Adolph Lowe, who was a foremost representative of the German Historical School. In 1963, Heilbroner earned a Ph.D. in Economics from the New School for Social Research, where he was subsequently appointed Norman Thomas Professor of Economics in 1971, and where he remained for more than twenty years. He mainly taught History of Economic Thought courses at the New School. Although a highly unconventional economist, who regarded himself as more of a social theorist and "worldly philosopher" (philosopher pre-occupied with "worldly" affairs, such as economic structures), and who tended to integrate the disciplines of history, economics and philosophy, Heilbroner was nevertheless recognized by his peers as a prominent economist. He was elected Vice President of the American Economic Association in 1972.
- Jack Hirshleifer (August 26, 1925 – July 26, 2005) was an American economist and long-time professor at the University of California, Los Angeles. He received a B.S. from Harvard University in 1945 and a Ph.D. in 1950. He worked at the RAND Corporation in Santa Monica from 1949 to 1955. He then taught at the University of Chicago from 1955 to 1960, and at UCLA until 2001. Hirshleifer was well known for his work on uncertainty and information in economics, the economic analysis of conflict, and bioeconomics. His undergraduate textbook, Price Theory and Applications, went into seven editions. A 1958 article by Hirshleifer began the triumphant comeback of Irving Fisher's theory of capital and interest, now deemed canonical. While at Rand Corporation, Hirshleifer wrote a report which tore apart the Department of Water and Power's feasibility report for the Oroville Dam, noting among other things that the report failed to include the cost of building the dam. The dam ended up being built.
Fogel's first major study involving cliometrics was Railroads and American Economic Growth: Essays in Econometric History (1964). This tract sought to quantify the railroads' contribution to U.S. economic growth in the 19th century. Fogel's most famous and controversial work is Time on the Cross (1974), a two-volume quantitative study of American slavery, co-written with Stanley Engerman. In the book, Fogel and Engerman argued that the system of slavery was profitable for slave owners because they organized plantation production "rationally" to maximize their profits. Due to economies of scale, (the so-called "gang system" of labor on cotton plantations), they argued, Southern slave farms were more productive, per unit of labor, than northern farms. The implications of this, Engerman and Fogel contended, is that slavery in the American South was not quickly going away on its own (as it had in some historical instances such as ancient Rome) because, despite its exploitative nature, slavery was immensely profitable and productive for slave owners. This contradicted the argument of earlier Southern historians.In 1989 Fogel published Without Consent or Contract: The Rise and Fall of American Slaveryas a response to criticism stemming from what some perceived as the cold and calculating conclusions found in his earlier work, Time on the Cross. In it he very clearly spells out a moral indictment of slavery when he references things such as the high infant mortality rate from overworked pregnant women, and the cruel slave hierarchies established by their masters. In 2000 Fogel published The Fourth Great Awakening and the Future of Egalitarianism in which he argued that America has been moving cyclically toward greater equality, largely because of the influence of religion, especially evangelicalism.
- Arthur Betz Laffer (/ˈlæfər/;[1] born August 14, 1940) is an American economist who first gained prominence during the Reaganadministration as a member of Reagan's Economic Policy Advisory Board (1981–89). Laffer is best known for the Laffer curve, an illustration of the concept that there exists some tax rate between 0% and 100% that will result in maximum tax revenue for governments. He is the author and co-author of many books and newspaper articles, including Supply Side Economics: Financial Decision-Making for the 80s. Laffer is Policy Co-Chairman (with Lawrence "Larry" Kudlow) of the Free Enterprise Fund and serves on the "Board of Scholars" of the American Legislative Exchange Council (ALEC).[2] Laffer was one of four economists who acted as advisors to Donald Trump's successful 2016 campaign for the presidency of the United States. Laffer was born in Youngstown, Ohio, the son of Marian Amelia "Molly" (née Betz), a homemaker and politician, and William Gillespie Laffer, a president of the Clevite Corporation.[4][5][6] He was raised a Presbyterian,[7], and graduated from University School high school in 1958.[8]. Laffer earned a B.A. in Economics from Yale University (1962) and an M.B.A. (1965) and a Ph.D. in Economics (1972) from Stanford University. While he was teaching at the USC Marshall School of Business, Laffer played a key role in writing California Proposition 13, the property-tax-cap initiative that inspired a tax revolt across the nation.
- Avinash Kamalakar Dixit (born August 6, 1944 in Bombay, India) is an Indian-American economist. He is currently John J. F. Sherrerd '52 University Professor of Economics Emeritus at Princeton University,[4] Distinguished Adjunct Professor of Economics at Lingnan University (Hong Kong), Senior Research Fellow at Nuffield College, Oxford and Sanjaya Lall Senior Visiting Research Fellow at Green Templeton College, Oxford. Dixit received a B.Sc. from Bombay University in 1963 in Mathematics and Physics, a B.A. from Cambridge University in 1965 in Mathematics (Corpus Christi College, First Class), and a Ph.D. in 1968 from the Massachusetts Institute of Technology in Economics.
- Joseph Eugene Stiglitz (/ˈstɪɡlɪts/; born February 9, 1943) is an American economist, public policy analyst, and a professor at Columbia University. He is a recipient of the Nobel Memorial Prize in Economic Sciences (2001) and the John Bates Clark Medal (1979).[3][4] He is a former senior vice president and chief economist of the World Bank and is a former member and chairman of the (US president's) Council of Economic Advisers.[5][6] He is known for his support of Georgist public finance theory[7][8][9] and for his critical view of the management of globalization, of laissez-faire economists (whom he calls "free market fundamentalists"), and of international institutions such as the International Monetary Fundand the World Bank.In 2000, Stiglitz founded the Initiative for Policy Dialogue (IPD), a think tank on international development based at Columbia University. He has been a member of the Columbia faculty since 2001, and received that university's highest academic rank (university professor) in 2003. He was the founding chair of the university's Committee on Global Thought. He also chairs the University of Manchester's Brooks World Poverty Institute. He is a member of the Pontifical Academy of Social Sciences. In 2009, the President of the United Nations General Assembly Miguel d'Escoto Brockmann, appointed Stiglitz as the chairman of the U.N. Commission on Reforms of the International Monetary and Financial System, where he oversaw suggested proposals and commissioned a report on reforming the international monetary and financial system.[10] He served as chair of the international Commission on the Measurement of Economic Performance and Social Progress, appointed by President Sarkozy of France, which issued its report in 2010, Mismeasuring our Lives: Why GDP doesn't add up,[11] and currently serves as co-chair of its successor, the High Level Expert Group on the Measurement of Economic Performance and Social Progress. From 2011 to 2014, Stiglitz was president of the International Economic Association (IEA).[12] He presided over the organization of the IEA triennial world congress held near the Dead Sea in Jordan in June 2014.
-Paul Robin Krugman(pronunciation: /ˈkrʊɡmən/ kruug-mən; born February 28, 1953) is an Americaneconomist, Distinguished Professor of Economics at the Graduate Center of the City University of New York, and an op-edcolumnist for The New York Times.[4] In 2008, Krugman was awarded the Nobel Memorial Prize in Economic Sciences for his contributions to New Trade Theory andNew Economic Geography. The Prize Committee cited Krugman's work explaining the patterns of international trade and the geographic distribution of economic activity, by examining the effects of economies of scale and of consumer preferences for diverse goods and services. Krugman is known in academia for his work on international economics(including trade theory, economic geography, and international finance),liquidity traps, and currency crisis. Krugman was previously a professor of economics at MIT, and later at Princeton University. He retired from Princeton in June 2015 to join the Graduate Center of the City University of New York. He also holds the title of Centenary Professor at the London School of Economics, and was President of the Eastern Economic Association in 2010.[9] The Research Papers in Economics project ranked him as the world's 22nd most influential economist based on his academic contributions.
- Nicholas Gregory Mankiw (/ˈmænkjuː/; born February 3, 1958) is an American macroeconomist, who is currently the Robert M. Beren Professor of Economics at Harvard University. Mankiw is best known in academia for his work on New Keynesian economics. Mankiw is a conservative[8][9][10][11] and has been an economic adviser to several Republican politicians. From 2003 to 2005, Mankiw was chairman of the Council of Economic Advisers under President George W. Bush. In 2006, he became an economic adviser to Mitt Romney, and he worked with Romney during the presidential campaigns in 2008 and 2012.Mankiw was born in Trenton, New Jersey. His grandparents were all Ukrainians.
- chicago school
capitalism
消費券
- 振興經濟消費券，通稱消費券，是中華民國政府為了因應2008年全球金融海嘯所帶來的消費緊縮效應，於2009年發放給全國人民的消費專用券，每人為新台幣3600元，面額有200元及500元兩種。包含消費券防偽印刷等行政費用，共舉債858億元。2008年11月，行政院經濟建設委員會建議以發放消費券方案來促進景氣活絡。經立法院立法通過《振興經濟消費券發放特別條例》，以舉債新台幣858億元（以台灣總人口約2,300萬人，每人3,600元估算）的方式籌措財源編列特別預算。為防止偽券流通，消費券由承印鈔券的中央印製廠印製，防偽措施與現金鈔券相似。 2009年1月18日當天（第一階段），於全國各縣市逾14,000個發券所發放，需持國民身分證（未滿20歲者需攜帶戶口名簿）、印章及領券通知單方可領取。[3]當日未領取者於同年（第二階段）2月7日至4月30日間可至通知單上之指定郵局領取，逾期不補發。有效使用期限至同年9月30日為止。而第二階段中的2月7日下午1時30分及2月8日全天，民眾在指定的郵局可領取消費券。
-bulgaria
- china
- 商務部發言人高峰昨日介紹，目前已有7個省20多個地市組織發放了多種形式的消費券，激發消費潛力，帶動消費回補，在短期內取得了積極成效。http://hk.hkcd.com/pdf/202004/0410/HA08410CZXX_HKCD.pdf
- Nanjing hkcd 15mar2020 a5
- 記者從媒體吹風會上獲悉，2020年「壯美廣西‧三月三暖心生活節」將於今日舉行。直至5月26日，全區各級財政籌措超億元發放消費券，通過聯合阿里巴巴整合在線平台資源，聯動全區4000多家限額規模以上商旅文企業、30萬家在線線下門店，開展系列主題促銷活動，力爭帶動在線線下廣西商家銷售突破150億元以上，加快恢復消費市場。http://hk.hkcd.com/pdf/202003/0326/HZ13326CHAA_HKCD.pdf
- 浙江杭州政府為刺激消費，昨日起向當地民眾派發合共十六億八千萬元（人民幣‧下同，約十八億八千萬港元）消費券，身處杭州的外來民眾也受惠。除一般民眾可以領取五十元（約五十六港元）消費券，困難群體更額外獲一百元（約一百一十二港元）電子消費券。據悉，政府將分兩次派發消費券，首輪共發放五億元（約五億六千萬港元）消費券，其中一千五百萬元（約一千六百七十五萬港元）用於幫助困難群眾，其餘以電子消費券形式發放，市民從即日至五月三十一日可申請領取，領取後有效期七日。至於首輪政府給予商戶的優惠補貼則為十一億八千萬元（約十三億港元）。市民申請領取電子消費券方法，是從支付寶首頁專區入口或支付寶搜索「杭州」進入「杭州消費券」頁面，點擊申領「消費券卡包」，每個「卡包」內有五張價值十元（約十一港元）消費券，民眾購物滿四十元（約四十五港元），即可減十元（約十一港元）。第二輪派發時間將在下月三日至五月卅一日。https://orientaldaily.on.cc/cnt/china_world/20200328/00180_025.html
- 早在2009年，因受全球金融危機影響，浙江省居民消費價格出現1.5%的跌幅，當年1月，杭州市面向全市中小學生、企業退休職工以及持證低保戶家庭和困難家庭發放了文化旅遊、社會商品以及生活服務方面的消費券近1億元。同年3月至5月，杭州市再次發放消費券共計7億元，其中3億元為旅遊消費券。2009年1月至8月，杭州全市收費景點接待遊客3,121.37萬人次，同比增長15.1%；門票收入9.05億元，同比增長21.3%，增長幅度高於當時的熱門旅遊城市北京、上海、廣州等城市。抽樣調查顯示，82.62%的調查對象都因旅遊消費券的吸引而赴杭旅遊。http://pdf.wenweipo.com/2020/03/29/a03-0329.pdf
- 深圳羅湖區今日起將向消費者發放3000萬元（人民幣，下同）消費券，可在零售、住宿、餐飲、汽車等七個領域使用。每個月計劃發放1000萬元，市民可通過微信小程序預約抽籤，獲得的消費券在零售、餐飲、住宿等消費到一定額度時，可以直接抵用現金。深圳市羅湖區工信局（商務局）局長周建軍表示，消費券有效期7天。http://paper.takungpao.com/resfile/PDF/20200401/PDF/a10_screen.pdf
- 7日，佛山市南海區宣布將於10日開始發放1億元「南海版」消費券。繼佛山市宣布市級財政在4月發放1億元「佛山版」消費券後，南海區在區、鎮街兩級財政合共安排1億元投入發放消費券。南海區「促消費、惠民生」活動月時間為期約一個月，將面向南海區所有市民和到南海區的消費者發放消費券，適用於參與活動的開通移動支付功能的南海區內實體經營企業（場所、商家），實行線下到店消費、線上通過「支付寶」支付。活動範圍覆蓋餐飲行業、景區旅遊、住宿行業、美容美發、零售行業、文體行業以及其他生活服務業，適用範圍廣，折扣最高達5折。http://hk.hkcd.com/pdf/202004/0408/HA11408CHBB_HKCD.pdf
- 湖北武漢市政府刺激消費，由明日起至七月十三日，將陸續向當地市民發放五億元（人民幣‧下同，約五億六千五百萬港元）的「武漢消費券」；消費券主要採取線上搶券的模式發放。每人在同一企業所屬平台上搶到的消費券每月累計核銷總額，不得超過一百元（約一百零九港元）。https://orientaldaily.on.cc/cnt/china_world/20200418/00180_003.html
- 澳門特區政府首創「跨境消費券」模式，9月1日至12月31日，在騰訊支付的助力下，發放共計2.9億澳門元的消費券。遊客可通過微信關注澳門特區旅遊局公眾號，在菜單欄點擊「澳門心出發」進入小程序，預約報名抽取澳門酒店五折消費券，同時通過「微信支付境外遊禮包」小程序領取線下消費券。http://www.takungpao.com.hk/news/232108/2020/0901/492961.html
- usa
- The Supplemental Nutrition Assistance Program (SNAP),[1] formerly and commonly known as the Food Stamp Program, provides food-purchasing assistance for low- and no-income people living in the United States. It is a federal aid program, administered by the United States Department of Agriculture, under the Food and Nutrition Service (FNS), though benefits are distributed by each U.S. state's Division of Social Services or Children and Family Services.First Food Stamp Program (FSP) (May 16, 1939 – Spring 1943)The 18 years between the end of the first FSP and the inception of the next were filled with studies, reports, and legislative proposals. Prominent US senators actively associated with attempts to enact a food stamp program during this period included George Aiken, Robert M. La Follette Jr., Hubert Humphrey, Estes Kefauver, and Stuart Symington. From 1954 on, US Representative Leonor Sullivan strove to pass food-stamp program legislation.On September 21, 1959, P.L. 86-341 authorized the Secretary of Agriculture to operate a food-stamp system through January 31, 1962. The Eisenhower Administration never used the authority. However, in fulfillment of a campaign promise made in West Virginia, President John F. Kennedy's first Executive Order called for expanded food distribution and, on February 2, 1961, he announced that food stamp pilot programs would be initiated. The pilot programs would retain the requirement that the food stamps be purchased, but eliminated the concept of special stamps for surplus foods. A Department spokesman indicated the emphasis would be on increasing the consumption of perishables.The Food Stamp Act of 1964 appropriated $75 million to 350,000 individuals in 40 counties and three cities. The measure drew overwhelming support from House Democrats, 90 percent from urban areas, 96 percent from the suburbs, and 87 percent from rural areas. Republican lawmakers opposed the initial measure: only 12 percent of urban Republicans, 11 percent from the suburbs, and 5 percent from rural areas voted affirmatively. President Lyndon B. Johnson hailed food stamps as "a realistic and responsible step toward the fuller and wiser use of an agricultural abundance".Rooted in congressional logrolling, the act was part of a larger appropriation that raised price supports for cotton and wheat. Rural lawmakers supported the program so that their urban colleagues would not dismantle farm subsidies. Food stamps, along with Medicaid/Medicare, Head Start, and the Job Corps, were foremost among the growing anti-poverty programs.President Johnson called for a permanent food-stamp program on January 31, 1964, as part of his "War on Poverty" platform introduced at the State of the Union a few weeks earlier. Both the outgoing Republican Administration and the new Democratic Administration offered Congress proposed legislation to reform the FSP in 1977. The Republican bill stressed targeting benefits to the neediest, simplifying administration, and tightening controls on the program; the Democratic bill focused on increasing access to those most in need and simplifying and streamlining a complicated and cumbersome process that delayed benefit delivery as well as reducing errors, and curbing abuse. The chief force for the Democratic Administration was Robert Greenstein, Administrator of the Food and Nutrition Service (FNS). The mid-1990s was a period of welfare reform. Prior to 1996, the rules for the cash welfare program, Aid to Families with Dependent Children (AFDC), were waived for many states. With the enactment of the 1996 welfare reform act, called the Personal Responsibility and Work Opportunity Reconciliation Act of 1996 (PRWORA), AFDC, an entitlement program, was replaced that with a new block grant to states called Temporary Assistance to Needy Families (TANF).Although the Food Stamp Program was reauthorized in the 1996 Farm Bill, the 1996 welfare reform made several changes to the program. The 2008 farm bill renamed the Food Stamp Program to the Supplemental Nutrition Assistance Program (beginning October 2008) and replaced all references to "stamp" or "coupon" in federal law with "card" or "EBT."
- france
- 法國一年一度的「愛心餐廳」（Restos du Coeur）冬季慈善活動，在周二起正式展開。分布全國的愛心餐廳在冬季期間，向有需要的民眾提供免費飯菜。愛心餐廳活動始於一九八五年，至今已是第三十五年舉行。主辦單位表示，多年來共派出廿億份愛心餐，現時受惠人數多達九十萬，前來領取免費餐的除露宿者、貧苦階層外，近年亦多了許多年輕人，其中51%是廿六歲以下，包括大學生、在職青年和兒童。https://orientaldaily.on.cc/cnt/china_world/20191129/00180_026.html
- The Department of Education has confirmed that the planned resumption of free 'school meals' for around 250,000 school children can go ahead, despite the new restrictions on movement. Under a revised scheme, the families of children and teens will receive weekly bags of food instead of daily lunches.But a company that supplies schools has warned of shortages in the supply chain. Glanmore Foods has appealed to Irish food producers to contact them if they can supply staples like cheese in high quantities.The company was forced to lay off 220 workers as a result of the school closures.Now it plans to get back up and running, putting together and delivering weekly bags to schools, that can then be distributed to families. However, Glanmore has told RTÉ News that it is encountering great difficulty sourcing basic foodstuffs. Pupils at 1,580 schools and organisations, including 856 DEIS schools, were entitled to free school lunches under the State's €57 million School Meals Programme.https://www.rte.ie/news/ireland/2020/0328/1126984-dept-education-meals/
- 中央政府八年前推出農村義務教育學生營養膳食補助計劃，目前每人每天四元，每年撥款數百億元，為全國二千六百多萬名農村學生提供營養膳食補助。然而，由於缺乏監督，學童營養餐至今仍然是官商眼中的唐僧肉，非但無益於學生的身心健康，反而屢屢發生中毒事件。https://orientaldaily.on.cc/cnt/china_world/20191127/00182_001.html
- 中華電力昨宣布，撥款兩千萬港元推出為期四個月的「齊飲齊食齊加油」餐飲券計劃，會向有需要家庭每戶派發總值兩百元餐飲券，資助他們到參與的食肆內消費，並協助中小企餐飲行業紓緩經營壓力，預計可惠及十萬個家庭。various newspapers 8jan2020
- https://www.haaretz.com/israel-news/business/.premium-why-does-israel-have-soviet-style-butter-shortages-blame-bolshevism-1.8401672 When the state mandates the quantity of milk produced, its wholesale price, the retail price of dairy products and import volumes via high tariffs, the unavoidable outcome is a lack of butter. Finance Minister Moshe Kahlon is considering ending all this by lifting all tariffs on butter imports.Just as it was in the Soviet Union, in the Israel of 2020, whenever people see butter on the supermarket shelves, they buy up the stuff and stash it in the fridge to make sure they won’t run out. How is it that a Western, capitalist, advanced society has been lacking such a basic commodity for more than a year? It seems Kahlon has been asking himself the same question.Kahlon has announced that he’s leaving politics, which may be the reason he’s standing up to the aggressive agriculture lobby. Or maybe he simply realizes that the public is furious about the butter shortage.Israel’s butter battle is being waged between the Agriculture Ministry, which opposes any reform, and the Finance Ministry. The big question is whether the country should cap duty-free imports or simply not tax imports.Currently butter is subject to tariffs of 120% to 160%, which makes it economically unviable. This of course is to protect Israeli dairy producers.Israel’s dairy industry is a government-planned cartel: The state tells the dairy farmers how much milk each can produce. It dictates the wholesale price they receive from the three large dairy manufacturers: Strauss, Tara and Tnuva. And it dictates import duties on competing products and retail prices for many products so that Tnuva can’t take advantage of its monopoly status. The unavoidable consequence is inefficiency and shortages.The butter problem began when Tara shuttered its butter production at the end of 2018, opting to manufacture more profitable products as opposed to fixed-price butter. Tnuva, Israel’s main butter producer, didn’t increase production to compensate for Tara’s departure from the market.
tax to alter behaviour
- 一六九六年，英國政府開始按建築物的窗戶數目徵收「窗戶稅」。房子的窗戶越多，業主就要承擔更高的窗戶稅。初次聽說窗戶稅的人常以為這是政府腦袋一熱想出來的，但其實窗戶稅是有其合理及巧妙的一面。與小市民相比，富貴人家的住宅面積更大，窗戶當然就更多。因此，越富的人交的稅就越多。這不僅反映了「納稅的能力越強，承擔的稅賦更高」的縱向公平原則，也更有利於社會財富的重新分配。此外，為了採光、通氣和賞景，窗戶都是開在顯眼的地方，所以不容易逃稅。稅務官不用進屋，在外面數一數窗戶，就能計算出業主應該繳納多少稅。窗戶稅以公平為目的，徵收方式便捷透明，選用的稅基又使逃稅困難──幾乎完美！然而，沒想到業主為了錢包寧願放棄陽光、空氣和美景，將窗戶封上。當政府於十八世紀末大幅度地提高窗戶稅，幾千扇窗戶在一夜間被木板和磚塊堵死。在這場封窗運動中，最受罪的是城市的勞動人民。他們負擔不起自己的獨立屋，只能擠在廉價公寓裏的劏房。由於窗戶稅是按照整棟公寓的窗戶總數計算，因此為了降低成本，房東把能封的窗戶都封上了。新建的公寓也盡量減少窗戶的數目，例如愛丁堡的一座新公寓，二樓整排的卧室裏一扇窗戶都沒有。在這些通風不足的陰暗房間裏，霍亂和天花肆虐蔓延，人們的怨氣也找不到宣泄的窗口。窗戶稅本是一個富人稅，最後卻讓窮人吃了苦頭。當政府於一八五一年將其廢除時，大家都鬆了一口氣。雖然窗戶稅沒有達到預期的效果，但它證明了一件事：若想人們迅速地改變他們的行為模式，稅法也許是一個不錯的切入點。http://paper.takungpao.com/resfile/PDF/20200514/PDF/b4_screen.pdf
quantitative easing/printing money
- Modern Monetary Theory, MMT
- 理論最初由一小撮經濟學者提出，他們主張擁有本身央行和制訂貨幣政策能力的國家包括美國、英國和日本，可以透過不斷印銀紙和借貸方式支持經濟，因政府不用擔心破產，唯一的限制是通脹不能失控，因為這會擾亂經濟。該理論之前長期受到忽視，今年卻突然爆紅，打入主流社會，部分原因是得到美國民主黨紐約州眾議員奧卡西奧─科迪斯的「加持」，認為MMT可為她提倡的「綠色新政」（Green New Deal）提供龐大融資，更在其社交網站展示自己捧着首部MMT教科書《宏觀經濟學》。該書其中兩位作者是MMT先驅，同樣來自澳洲紐卡素大學的經濟學家Bill Mitchell及Martin Watts。另外，有意競逐二○年美國總統的獨立參議員桑德斯，一六年選戰時曾經聘請MMT經濟學家Stephanie Kelton擔任顧問職位。https://orientaldaily.on.cc/cnt/finance/20190819/00202_017.html
- 極具市場爭議的現代貨幣理論（MMT）在美國仍然處於辯論層面之際，市場指出該學說一早已經在日本實踐。即使日本官員不認同MMT，但MMT某程度已在日本落地生根。日本政府每年均錄得龐大基本預算赤字，即不計入償付舊債的開支，還需借入數以萬億日圓新債填補赤字。不過，當局發債融資從未遇上困難，因為大部分最終落入日本央行手上，而非私人投資者。主張MMT的經濟學家Stepanie Kelton則表示：「日本沒有預算危機，亦沒通脹問題，為何需要提高消費稅而導致消費放緩之虞？」至於曾任安倍經濟顧問六年的藤井聰認為，MMT概念沒錯，呼籲當局押後加稅，並在未來三年增加15萬億日圓公共開支以刺激通脹。https://orientaldaily.on.cc/cnt/finance/20190819/00202_018.html
hyperinflation
- venezuela
- http://orientaldaily.on.cc/cnt/finance/20180510/00202_024.html委內瑞拉在野黨率領嘅國民議會周一自爆，截至今年四月計，該國一年物價飆13779%
duopoly
- models
- cournot
- bertrand
- stackelberg
- https://www.economist.com/news/finance-and-economics/21739976-once-wildest-emerging-markets-thailand-ageing-fast-its-economic
association
- The Mont Pelerin Society (MPS) is an international classical liberal organization[2] composed of economists, philosophers, historians, intellectuals and business leaders.[3] The members see the MPS as an effort to interpret in modern terms the fundamental principles of economic society as expressed by classical Western economists, political scientists and philosophers. Its founders included Friedrich Hayek, Frank Knight, Karl Popper, Ludwig von Mises, George Stigler and Milton Friedman. The society advocates freedom of expression, free market economic policies and the political values of an open society. The MPS was created on 10 April 1947 at a conference organized by Friedrich Hayek. Originally, it was to be named the Acton-Tocqueville Society. After Frank Knight protested against naming the group after two "Roman Catholic aristocrats" and Ludwig von Mises expressed concern that the mistakes made by Acton and Tocqueville would be connected with the society, the decision was made to name it after Mont Pèlerin, the Swiss resort where it convened.
Economists
- Sir Thomas Gresham the Elder (/ˈɡrɛʃəm/; c. 1519 – 21 November 1579), was an English merchant and financier who acted on behalf of King Edward VI (1547–1553) and Edward's half-sisters, queens Mary I (1553–1558) and Elizabeth I(1558–1603). In 1565 Gresham founded the Royal Exchange in the City of London. Born in London and descended from an old Norfolk family, Gresham was one of two sons and two daughters of Sir Richard Gresham, a leading City merchant mercer and Lord Mayor of London, who was knighted by King Henry VIII for negotiating favourable loans with foreign merchants.
- Gresham's Law (stated simply as: "Bad money drives out good") takes its name from him (although others, including the astronomer Nicolaus Copernicus, had recognised the concept for years) because he urged Queen Elizabeth to restore the debased currency of England. However, Sir Thomas never formulated anything like Gresham's Law, which was the 1857 conception of Henry Dunning Macleod, an economist with a knack for reading into a text that which was not written.
- Thomas Robert Malthus FRS (/ˈmælθəs/; 13 February 1766 – 23 December 1834) was an English cleric and scholar, influential in the fields of political economy and demography.[2] Malthus himself used only his middle name, Robert. In his 1798 book An Essay on the Principle of Population, Malthus observed that an increase in a nation's food production improved the well-being of the populace, but the improvement was temporary because it led to population growth, which in turn restored the original per capita production level. In other words, mankind had a propensity to utilize abundance for population growth rather than for maintaining a high standard of living, a view that has become known as the "Malthusian trap" or the "Malthusian spectre". Populations had a tendency to grow until the lower class suffered hardship and want and greater susceptibility to famine and disease, a view that is sometimes referred to as a Malthusian catastrophe. Malthus wrote in opposition to the popular view in 18th-century Europe that saw society as improving and in principle as perfectible.[4] He saw population growth as being inevitable whenever conditions improved, thereby precluding real progress towards a utopian society: "The power of population is indefinitely greater than the power in the earth to produce subsistence for man".[5] As an Anglican cleric, Malthus saw this situation as divinely imposed to teach virtuous behaviour.[6] Malthus wrote:
Malthus criticized the Poor Laws for leading to inflation rather than improving the well-being of the poor. He supported taxes on grain imports (the Corn Laws), because food security was more important than maximizing wealth.[9] His views became influential, and controversial, across economic, political, social and scientific thought.
-Johann Heinrich von Thünen (24 June 1783 – 22 September 1850), sometimes spelt Thuenen, was a prominent nineteenth century economist and a native of Mecklenburg-Strelitz in northern Germany.[1] Thünen was a Mecklenburg landowner, who in the first volume of his treatise The Isolated State (1826) developed the first serious treatment of spatial economics and economic geography, connecting it with the theory of rent. The importance lies less in the pattern of land use predicted than in its analytical approach. Thünen developed the basics of the theory of marginal productivity in a mathematically rigorous way.- Georg Friedrich List (6 August 1789 – 30 November 1846) was a German economist with dual American citizenship[2] who developed the "National System", also known as the National System of Innovation.[3] He was a forefather of the German historical school of economics,[4] and argued for the German Customs Union from a Nationalist standpoint.[5] He advocated imposing tariffs on imported goods while supporting free trade of domestic goods, and stated the cost of a tariff should be seen as an investment in a nation's future productivity.
- Michel Chevalier (French: [ʃə.va.lje]; 13 January 1806 – 18 November 1879) was a French engineer, statesman, economist and free market liberal. Born in Limoges, Haute-Vienne, Chevalier studied at the École Polytechnique, obtaining an engineering degree at the Paris École des mines in 1829. In 1830, after the July Revolution, he became a Saint-Simonian, and edited their paper Le Globe. The paper was banned in 1832, when the "Simonian sect" was found to be prejudicial to the social order, and Chevalier, as its editor, was sentenced to six months imprisonment. After his release, Minister of the Interior Adolphe Thiers sent him in 1834 on a mission to the United States and Mexico, to observe the state of industrial and financial affairs in the Americas. In the United States, Chevalier visited different parts of the country studying American society, its manners and political, social, and economic institutions. He made some keen observations along the way that were published in France by the Journal des débats producing at the time "an immense effect".[2] In Mexico he exchanged ideas with the mineralogist and politician Andrés Manuel del Río. It was during this trip that he also developed the idea that the Spanish-speaking and Portuguese-speaking parts of the Americas shared a cultural or racial affinity with all the European peoples with a Romance culture. Chevalier postulated that this part of the Americas were inhabited by people of a "Latin race," which could be a natural ally of "Latin Europe" in its struggle with "Teutonic Europe," "Anglo-Saxon America" and "Slavic Europe."[3] The idea was later taken up by French and Latin American intellectuals and political leaders of the mid and late nineteenth century, who no longer looked to Spain or Portugal as cultural models, but rather to France, and who coined the term "Latin America." In 1837, he wrote a well received work, Des intérèts matériels en France, after which his career took off. At age 35, he was appointed professor of political economy at the Collège de France. In 1839, letters that he sent to France during his mission to North America were translated and edited by Thomas Gamaliel Bradford and published in the United States as, Society, manners and politics in the United States; being a series of letters on North America.[6] Orestes Brownson reviewed the book and wrote that, "The work itself is highly important and interesting, and is well worth the perusal and even the study of every American citizen."Chevalier was an early member of the Société d'économie politique organized in 1842 by Pellegrino Rossi.[8] He was elected a député for the département of Aveyron in 1845, an appointment of Senator followed in 1860. In 1859, he was elected a foreign member of the Royal Swedish Academy of Sciences. Together with Richard Cobden and John Bright he prepared the free trade agreement of 1860 between the United Kingdom and France, which is still called the Cobden-Chevalier Treaty.
- [to double check validity] Manchester Liberalism, Manchester School, Manchester Capitalism and Manchesterism are terms for the political, economic and social movements of the 19th century that originated in Manchester, England. Led by Richard Cobden and John Bright, it won a wide hearing for its argument that free trade would lead to a more equitable society, making essential products available to all. Its most famous activity was the Anti-Corn Law League that called for repeal of the Corn Laws that kept food prices high. It expounded the social and economic implications of free trade and laissez-faire capitalism. The Manchester School took the theories of economic liberalism advocated by classical economists such as Adam Smith and made them the basis for government policy. It also promoted pacifism, anti-slavery, freedom of the press and separation of church and state.
- A statue of Cobden is in St Ann's Square in Manchester (pictured above) and his bust is in Manchester Town Hall. There is a statue of him, funded by public subscription (to which Napoleon III contributed) in the square by Mornington Crescent Underground station, London.
- Joseph Alois Schumpeter (German: [ˈʃʊmpeːtɐ]; 8 February 1883 – 8 January 1950)[3] was an Austrian political economist. Born in Moravia, he briefly served as Finance Minister of Austriain 1919. In 1932, he became a professor at Harvard University where he remained until the end of his career, eventually obtaining U.S. citizenship. One of the most influential economists of the 20th century, Schumpeter popularized the term "creative destruction" in economics. Schumpeter was born in Triesch, Habsburg Moravia (now Třešť in the Czech Republic, then part of Austria-Hungary) in 1883 to Catholic German-speakingparents. Both of his grandmothers were Czech.[8] Schumpeter did not acknowledge his Czech ancestry; he considered himself an ethnic German.[8] His father owned a factory, but he died when Joseph was only four years old.[9] In 1893, Joseph and his mother moved to Vienna.[10] Schumpeter was a loyal supporter of Franz Joseph I of Austria.
- ft 2mar19 statue in mornington crescent unveiled in 1868
- Friedrich Hayek CH (German: [ˈfʁiːdʁɪç ˈaʊ̯ɡʊst ˈhaɪ̯ɛk]; 8 May 1899 – 23 March 1992), born in Austria-Hungary as Friedrich August von Hayek and frequently referred to as F. A. Hayek, was an Austrian andBritish economist and philosopher best known for his defense of classical liberalism. Hayek shared the 1974 Nobel Memorial Prize in Economic Sciences withGunnar Myrdal for his "pioneering work in the theory of money and economic fluctuations and ... penetrating analysis of the interdependence of economic, social and institutional phenomena."Hayek was concerned about the general view in Britain's academia that fascism was a capitalist reaction to socialism and The Road to Serfdom arose from those concerns. It was written between 1940 and 1943. The title was inspired by the French classical liberal thinkerAlexis de Tocqueville's writings on the "road to servitude."[36] It was first published in Britain by Routledge in March 1944 and was quite popular, leading Hayek to call it "that unobtainable book," also due in part to wartime paper rationing.[37] When it was published in the United States by the University of Chicago in September of that year, it achieved greater popularity than in Britain.[38] At the arrangement of editor Max Eastman (an ardent socialist), the American magazine Reader's Digest also published an abridged version in April 1945, enabling The Road to Serfdom to reach a far wider audience than academics. The book is widely popular among those advocating individualism and classical liberalism.
- Ronald Harry Coase (/ˈkoʊs/; 29 December 1910 – 2 September 2013) was a British economist and author. He was the Clifton R. Musser Professor of Economics at the University of Chicago Law School, where he arrived in 1964 and remained for the rest of his life. He received the Nobel Memorial Prize in Economic Sciences in 1991.Coase, who believed economists should study real markets and not theoretical ones, established the case for the corporation as a means to pay the costs of operating a marketplace.[2] Coase is best known for two articles in particular: "The Nature of the Firm" (1937), which introduces the concept of transaction costs to explain the nature and limits of firms, and "The Problem of Social Cost" (1960), which suggests that well-defined property rights could overcome the problems of externalities (see Coase theorem).
- Ronald Harry Coase was born in Willesden, a suburb of London, on 29 December 1910. His father, Henry Joseph Coase (1884–1973) was a telegraphist for the post office, as was his mother, Rosalie Elizabeth Coase (née Giles; 1882–1972), before marriage. As a child, Coase had a weakness in his legs, for which he was required to wear leg-irons. Due to this problem, he attended the school for physical defectives. At the age of 12, he was able to enter the Kilburn Grammar School on scholarship. At Kilburn, he studied for the intermediate examination of the University of London as an external student in 1927–29.[3][4] Coase married Marion Ruth Hartung of Chicago, Illinois in Willesden, England, 7 August 1937.
- Milton Friedman (/ˈfriːdmən/; July 31, 1912 – November 16, 2006) was an American economist who received the 1976 Nobel Memorial Prize in Economic Sciences for his research on consumption analysis, monetary history and theory and the complexity of stabilization policy.[4] With George Stigler and others, Friedman was among the intellectual leaders of the second generation of Chicago price theory, a methodological movement at the University of Chicago's Department of Economics, Law School and Graduate School of Business from the 1940s onward. Several students and young professors who were recruited or mentored by Friedman at Chicago went on to become leading economists, including Gary Becker, Robert Fogel, Thomas Sowell[5] and Robert Lucas Jr.
- Armen Albert Alchian (/ˈɑːltʃiən/; April 12, 1914 – February 19, 2013) was an Americaneconomist and professor of economics at the University of California, Los Angeles.Alchian was born in Fresno, California into a family with Armenian background. He attended California State University, Fresnofor two years before transferring to Stanford University in 1934, where he earned both a B.A. (1936) and a Ph.D. (1944). He served as a statistician with the USA Army Air Corps, from 1942 to 1946. In 1946, he joined the Economics Department at UCLA, where he spent the rest of his career. For many years, he was affiliated with the Rand Corporation. Alchian was elected a Fellow of the American Academy of Arts and Sciences in 1978.[1] In 1996, he became a Distinguished Fellow of the American Economic Association and in 2010 he received an honorary doctorate degree from Universidad Francisco Marroquín.[2] He is told to have been a member of Mont Pelerin Society. Alchian was married to Pauline Alchian for 73 years. He had two children, six grandchildren and three great-grandchildren. Alchian is the founder of the "UCLA tradition" in economics, a member of the Chicago school of economics, and one of the more prominent price theorists of the second half of the 20th century. He is the author of pathbreaking articles on information and uncertainty, and the theory of the firm.[4] Through his writings on property rights and transaction costs, he is a founder of the new institutional economics. Alchian's writings have touched on topics conventionally viewed as macroeconomic: money, inflation, unemployment, and the theory of business investment. His writings are characterized by lucid witty exposition and a minimum of mathematical formalism.
- Sho-Chieh Tsiang 蔣碩傑（1918年8月25日－1993年10月21日），湖北應城人，生於上海，傑出經濟學專家，中央研究院院士。蔣作賓之四子。父蔣作賓曾任國民政府陸軍部次長（1913年）、國民政府的第一任駐德國公使兼駐奧地利全權公使、駐日公使和首任駐日大使、內政部部長(1935年12月12日-1937年11月20日)及安徽省政府主席。長兄蔣碩民曾留學德國（1927年）取得格丁根大學數學博士，回國任南開大學教授。蔣碩傑1921年開始與兄、姊共同受教於家庭教師朱子秋（後留日）。1926年他插班進入姨母張默君創辦的神州女學附屬小學四年級。1928年轉學南洋中學附屬高小二年級，並於翌年進入南洋中學。16歲到日本讀過慶應大學預科。21歲到28歲這八年，蔣碩傑先後就讀於英國倫敦政治經濟學院和劍橋大學，1941年獲得倫敦政經學院經濟學學士。1943年由經濟學大師哈耶克推薦得到獎學金重回倫敦政經學院的研究所。當年11月份在經濟學刊撰文批駁凱因斯人口成長與就業關係的文章。1944年又於經濟學刊發表批判尼古拉斯·卡爾多股票投機學說的文章。之後撰文批評劍橋大學資深教授庇古所著《就業與均衡》部份內容之錯誤，庇古認錯並修改其書中二章內容。1945年以流動分析（flow approach）理論探討經濟發展，獲得經濟學博士。 在倫敦政經學院就學期間，蔣碩傑曾發表數篇論文刊登在該校主辦的學術期刊《經濟學刊》上，更獲得象徵最佳論文的「赫其森銀牌獎」（Hutchinson Silver Medal）。其後，蔣陸續任職於國立北京大學、國際貨幣基金組織、美國羅徹斯特大學和康奈爾大學，回國後出任台灣經濟研究院首任院長，之後又擔任首任中華經濟研究院院長。1981年，主張穩定物價優先，與王作榮進行蔣王論戰，是台灣首次在報紙上討論國家經濟方針。1982年，蔣碩傑曾獲諾貝爾經濟學獎提名，是首位獲提名的華人經濟學家，但他並未得獎。其女蔣人瑞，芝加哥大學教授，其女婿拉爾斯·彼得·漢森為2013年諾貝爾經濟學獎得主。
- Bruno Leoni (26 April 1913, Ancona – 21 November 1967, Turin) was an Italian classical-liberal political philosopher and lawyer. Whilst the war kept Leoni away from teaching, in 1945 he became Full professor of Philosophy of Law. Leoni was also appointed Dean of the Department of Political Sciences at the University of Pavia from 1948 to 1960. Leoni fought in WWII as part of the “A Force”, an organization that rescued prisoners of war (POWs) in Italy after 1943. Leoni was the founder and editor of the political science journal Il Politico.[2] He was also involved as secretary and later president of the Mont Pelerin Society. Following Richard Posner, Leoni has been also one of the fathers of the Law and Economics school. Leoni died prematurely (aged 54) in Alpignano, under tragic circumstances, killed in 1967 by Osvaldo Quero. In 2003, Italian libertarian scholars Carlo Lottieri, Alberto Mingardi and Carlo Stagnaro founded the Bruno Leoni Institute, a free-market think-tank.
- Robert L. Heilbroner (March 24, 1919 – January 4, 2005) was an American economist and historian of economic thought. The author of some 20 books, Heilbroner was best known for The Worldly Philosophers: The Lives, Times and Ideas of the Great Economic Thinkers (1953), a survey of the lives and contributions of famous economists, notably Adam Smith, Karl Marx, and John Maynard Keynes. Heilbroner was born in 1919, in New York City, to a wealthy German Jewish family. His father, Louis Heilbroner, was a businessman who founded the men's clothing retailer Weber & Heilbroner.[2]Robert graduated from Harvard Universityin 1940 with a summa cum laude degree in philosophy, government and economics. During World War II, he served in the United States Army and worked at the Office of Price Control under John Kenneth Galbraith, the highly celebrated and controversial Institutionalist economist. After the war, Heilbroner worked briefly as a banker and entered into academia in the 1950s as a research fellow at the New School for Social Research. During this period, he was highly influenced by the German economist Adolph Lowe, who was a foremost representative of the German Historical School. In 1963, Heilbroner earned a Ph.D. in Economics from the New School for Social Research, where he was subsequently appointed Norman Thomas Professor of Economics in 1971, and where he remained for more than twenty years. He mainly taught History of Economic Thought courses at the New School. Although a highly unconventional economist, who regarded himself as more of a social theorist and "worldly philosopher" (philosopher pre-occupied with "worldly" affairs, such as economic structures), and who tended to integrate the disciplines of history, economics and philosophy, Heilbroner was nevertheless recognized by his peers as a prominent economist. He was elected Vice President of the American Economic Association in 1972.
- Jack Hirshleifer (August 26, 1925 – July 26, 2005) was an American economist and long-time professor at the University of California, Los Angeles. He received a B.S. from Harvard University in 1945 and a Ph.D. in 1950. He worked at the RAND Corporation in Santa Monica from 1949 to 1955. He then taught at the University of Chicago from 1955 to 1960, and at UCLA until 2001. Hirshleifer was well known for his work on uncertainty and information in economics, the economic analysis of conflict, and bioeconomics. His undergraduate textbook, Price Theory and Applications, went into seven editions. A 1958 article by Hirshleifer began the triumphant comeback of Irving Fisher's theory of capital and interest, now deemed canonical. While at Rand Corporation, Hirshleifer wrote a report which tore apart the Department of Water and Power's feasibility report for the Oroville Dam, noting among other things that the report failed to include the cost of building the dam. The dam ended up being built.
- David Hirshleifer is an American economist. He is a professor of finance and currently holds the Merage chair in Business Growth at the University of California at Irvine. As of 2018 he became President-Elect of the American Finance Association. David is the son of Jack Hirshleifer, a deceased UCLA economics professor. He is married to Siew Hong Teoh, Dean's Professor of accounting at the University of California at Irvine.
Fogel's first major study involving cliometrics was Railroads and American Economic Growth: Essays in Econometric History (1964). This tract sought to quantify the railroads' contribution to U.S. economic growth in the 19th century. Fogel's most famous and controversial work is Time on the Cross (1974), a two-volume quantitative study of American slavery, co-written with Stanley Engerman. In the book, Fogel and Engerman argued that the system of slavery was profitable for slave owners because they organized plantation production "rationally" to maximize their profits. Due to economies of scale, (the so-called "gang system" of labor on cotton plantations), they argued, Southern slave farms were more productive, per unit of labor, than northern farms. The implications of this, Engerman and Fogel contended, is that slavery in the American South was not quickly going away on its own (as it had in some historical instances such as ancient Rome) because, despite its exploitative nature, slavery was immensely profitable and productive for slave owners. This contradicted the argument of earlier Southern historians.In 1989 Fogel published Without Consent or Contract: The Rise and Fall of American Slaveryas a response to criticism stemming from what some perceived as the cold and calculating conclusions found in his earlier work, Time on the Cross. In it he very clearly spells out a moral indictment of slavery when he references things such as the high infant mortality rate from overworked pregnant women, and the cruel slave hierarchies established by their masters. In 2000 Fogel published The Fourth Great Awakening and the Future of Egalitarianism in which he argued that America has been moving cyclically toward greater equality, largely because of the influence of religion, especially evangelicalism.
- Arthur Betz Laffer (/ˈlæfər/;[1] born August 14, 1940) is an American economist who first gained prominence during the Reaganadministration as a member of Reagan's Economic Policy Advisory Board (1981–89). Laffer is best known for the Laffer curve, an illustration of the concept that there exists some tax rate between 0% and 100% that will result in maximum tax revenue for governments. He is the author and co-author of many books and newspaper articles, including Supply Side Economics: Financial Decision-Making for the 80s. Laffer is Policy Co-Chairman (with Lawrence "Larry" Kudlow) of the Free Enterprise Fund and serves on the "Board of Scholars" of the American Legislative Exchange Council (ALEC).[2] Laffer was one of four economists who acted as advisors to Donald Trump's successful 2016 campaign for the presidency of the United States. Laffer was born in Youngstown, Ohio, the son of Marian Amelia "Molly" (née Betz), a homemaker and politician, and William Gillespie Laffer, a president of the Clevite Corporation.[4][5][6] He was raised a Presbyterian,[7], and graduated from University School high school in 1958.[8]. Laffer earned a B.A. in Economics from Yale University (1962) and an M.B.A. (1965) and a Ph.D. in Economics (1972) from Stanford University. While he was teaching at the USC Marshall School of Business, Laffer played a key role in writing California Proposition 13, the property-tax-cap initiative that inspired a tax revolt across the nation.
- Avinash Kamalakar Dixit (born August 6, 1944 in Bombay, India) is an Indian-American economist. He is currently John J. F. Sherrerd '52 University Professor of Economics Emeritus at Princeton University,[4] Distinguished Adjunct Professor of Economics at Lingnan University (Hong Kong), Senior Research Fellow at Nuffield College, Oxford and Sanjaya Lall Senior Visiting Research Fellow at Green Templeton College, Oxford. Dixit received a B.Sc. from Bombay University in 1963 in Mathematics and Physics, a B.A. from Cambridge University in 1965 in Mathematics (Corpus Christi College, First Class), and a Ph.D. in 1968 from the Massachusetts Institute of Technology in Economics.
- Joseph Eugene Stiglitz (/ˈstɪɡlɪts/; born February 9, 1943) is an American economist, public policy analyst, and a professor at Columbia University. He is a recipient of the Nobel Memorial Prize in Economic Sciences (2001) and the John Bates Clark Medal (1979).[3][4] He is a former senior vice president and chief economist of the World Bank and is a former member and chairman of the (US president's) Council of Economic Advisers.[5][6] He is known for his support of Georgist public finance theory[7][8][9] and for his critical view of the management of globalization, of laissez-faire economists (whom he calls "free market fundamentalists"), and of international institutions such as the International Monetary Fundand the World Bank.In 2000, Stiglitz founded the Initiative for Policy Dialogue (IPD), a think tank on international development based at Columbia University. He has been a member of the Columbia faculty since 2001, and received that university's highest academic rank (university professor) in 2003. He was the founding chair of the university's Committee on Global Thought. He also chairs the University of Manchester's Brooks World Poverty Institute. He is a member of the Pontifical Academy of Social Sciences. In 2009, the President of the United Nations General Assembly Miguel d'Escoto Brockmann, appointed Stiglitz as the chairman of the U.N. Commission on Reforms of the International Monetary and Financial System, where he oversaw suggested proposals and commissioned a report on reforming the international monetary and financial system.[10] He served as chair of the international Commission on the Measurement of Economic Performance and Social Progress, appointed by President Sarkozy of France, which issued its report in 2010, Mismeasuring our Lives: Why GDP doesn't add up,[11] and currently serves as co-chair of its successor, the High Level Expert Group on the Measurement of Economic Performance and Social Progress. From 2011 to 2014, Stiglitz was president of the International Economic Association (IEA).[12] He presided over the organization of the IEA triennial world congress held near the Dead Sea in Jordan in June 2014.
- Stiglitz's work focuses on income distribution from a Georgist perspective, asset risk management, corporate governance, and international trade. He is the author of several books, the latest being The Euro: How a Common Currency Threatens the Future of Europe (2016), The Great Divide: Unequal Societies and What We Can Do About Them (2015), Rewriting the Rules of the American Economy: An Agenda for Growth and Shared Prosperity(2015), and Creating a Learning Society: A New Approach to Growth Development and Social Progress (2014).
- Stiglitz was born in Gary, Indiana, to Charlotte (née Fishman), a schoolteacher, and Nathaniel David Stiglitz, an insurance salesman.[16][17] Stiglitz graduated from Amherst College in 1964, where he was a highly active member of the debate team and president of the student government. During his senior year at Amherst College, he studied at the Massachusetts Institute of Technology (MIT), where he later pursued graduate work. From 1965 to 1966, he moved to the University of Chicago to do research under Hirofumi Uzawa who had received an NSF grant. He studied for his PhD from MIT from 1966 to 1967, during which time he also held an MIT assistant professorship.
- Stiglitz has advised American president Barack Obama, but has also been sharply critical of the Obama Administration's financial-industry rescue plan.[29] Stiglitz said that whoever designed the Obama administration's bank rescue plan is "either in the pocket of the banks or they're incompetent."
-Paul Robin Krugman(pronunciation: /ˈkrʊɡmən/ kruug-mən; born February 28, 1953) is an Americaneconomist, Distinguished Professor of Economics at the Graduate Center of the City University of New York, and an op-edcolumnist for The New York Times.[4] In 2008, Krugman was awarded the Nobel Memorial Prize in Economic Sciences for his contributions to New Trade Theory andNew Economic Geography. The Prize Committee cited Krugman's work explaining the patterns of international trade and the geographic distribution of economic activity, by examining the effects of economies of scale and of consumer preferences for diverse goods and services. Krugman is known in academia for his work on international economics(including trade theory, economic geography, and international finance),liquidity traps, and currency crisis. Krugman was previously a professor of economics at MIT, and later at Princeton University. He retired from Princeton in June 2015 to join the Graduate Center of the City University of New York. He also holds the title of Centenary Professor at the London School of Economics, and was President of the Eastern Economic Association in 2010.[9] The Research Papers in Economics project ranked him as the world's 22nd most influential economist based on his academic contributions.
- Nicholas Gregory Mankiw (/ˈmænkjuː/; born February 3, 1958) is an American macroeconomist, who is currently the Robert M. Beren Professor of Economics at Harvard University. Mankiw is best known in academia for his work on New Keynesian economics. Mankiw is a conservative[8][9][10][11] and has been an economic adviser to several Republican politicians. From 2003 to 2005, Mankiw was chairman of the Council of Economic Advisers under President George W. Bush. In 2006, he became an economic adviser to Mitt Romney, and he worked with Romney during the presidential campaigns in 2008 and 2012.Mankiw was born in Trenton, New Jersey. His grandparents were all Ukrainians.
- chicago school
- Harold Demsetz (/ˈdɛmsɛts/; born May 31, 1930) is a professor emeritus of economics at the University of California at Los Angeles (UCLA).Demsetz belongs to the Chicago school of economic theory, and was one of the pioneers of the approach now called New Institutional Economics. He is a founder of the field of managerial economics. He has expanded the theory of property rights now prevalent in law and economics. Even though Demsetz never employed game theory, he is a major figure in industrial organization through his writings on the theory of the firm, antitrust policy, and business regulation. His expository style is devoid of mathematical formalism to an extent unusual for someone who began his career after 1950. His principal influences include Frank Knight and a number of colleagues: Armen Alchian, Ronald Coase, Aaron Director, and George Stigler. Demsetz was the first to propose emissions trading as a way of giving polluters an economic incentive to reduce their emissions of pollutants. He coined the term "nirvana fallacy" in 1969.
- ? Paul Michael Romer (born November 7, 1955) is an American economist, a pioneer of endogenous growth theory, and a recipient of the Sveriges Riksbank Prize in Economics in memory of Alfred Nobel. He was Chief Economist and Senior Vice President of the World Bank until he resigned in January 2018 following a controversy arising from his claim of possible political manipulation of Chile's "ease of doing business" ranking. He had been on leave from his position as professor of economics at the Stern School of Business at New York University. Prior to New York University, Romer was a professor of economics at the University of Chicago, the University of California, Berkeley, and the Stanford University's Graduate School of Business.[4][5] In addition, Romer was a senior fellow at Stanford's Center for International Development, the Stanford Institute for Economic Policy Research, the Hoover Institution, as well as a fellow at the Center for Global Development. His latest contribution has been in trying to replicate the success of charter cities and make it an engine of economic growth in developing countries. He promoted this idea in a TED talk in 2009. Romer has argued that with better rules and institutions, less developed nations can be set on a different and better trajectory for growth.[18] In his model, a host country would turn responsibility for a charter city over to a more developed trustee nation, which would allow for new rules of governance to emerge. People could "vote with their feet" for or against these rules. The government of Honduras has recently considered creating charter cities, though without the oversight of a third-party government, which some argue is neo-colonialism.[7] Romer served as chair of a "transparency committee" but resigned in September 2012 when the Honduran government agency responsible for the project signed agreements with international developers without involvement of the committee.
- In the United States, a charter city is a city in which the governing system is defined by the city's own charter document rather than by general law. In states where city charters are allowed by law, a city can adopt or modify its organizing charter by decision of its administration by the way established in the charter. These cities may be administered predominantly by residents or through a third-party management structure, because a charter gives a city the flexibility to choose novel types of government structure.For example, in California, cities which have not adopted a charter are organized by state law. Such a city is called a General Law City, which will be managed by a 5-member city council. A city organized under a charter may choose different systems, including the "strong mayor" or "city manager" forms of government.[1][2] As of 22 February 2013, 121 of California's 478 cities are charter cities.[3] A few examples include Norco, Oakland, Newport Beach, Palo Alto, Huntington Beach, Alameda, San Francisco, Irvine, Los Angeles, San Jose, Merced and the capital, Sacramento.[4] However, charter cities that are subordinate to the rules of larger institutions (such as provinces or nations) have limited flexibility to adopt new governance structures.
- Alan Bennett Krueger (September 17, 1960 – March 16, 2019) was an American economist who was the James Madison Professor of Political Economy at Princeton University and Research Associate at the National Bureau of Economic Research. He served as Assistant Secretary of the Treasury for Economic Policy, nominated by President Barack Obama, from May 2009 to October 2010, when he returned to Princeton. He was nominated in 2011 by Obama as chair of the White House Council of Economic Advisers, and served in that office from November 2011 to August 2013.Krueger grew up in a Jewish family[3] in Livingston, New Jersey, and graduated from Livingston High School in 1979. Krueger received his B.S. from the Cornell University School of Industrial and Labor Relations (with honors), and he received his A.M. and Ph.D. in Economics from Harvard University in 1985 and 1987, respectively.
economics as an academic subject
- https://www.economist.com/news/finance-and-economics/21739977-stem-students-have-better-visa-prospects-america-economics-renames-itself ECONOMISTS do not much like their discipline being dubbed the dismal science. Some American universities are paying more attention to the noun than to the adjective. The reason is not philosophical, but pragmatic. Foreign STEM graduates (the acronym stands for science, technology, engineering and mathematics) can get visa extensions for three years of practical training (ie, work). Those from other disciplines are allowed only a year.
- Krueger developed and applied the method of natural experiments[6] to study the effect of education on earnings, the minimum wage on employment, and other issues. Krueger compared restaurant jobs in New Jersey, which raised its minimum wage, to restaurant jobs in Pennsylvania, which did not, and found that restaurant employment in New Jersey increased, while it decreased in Pennsylvania.[8] The results reinvigorated the academic debate on the employment effects of minimum wages and spawned a large literature. His books, Education Matters: Selected Essays by Alan B. Krueger and (with James Heckman) Inequality in America: What Role for Human Capital Policies? reviewed the available research relating to positive externalities accruing to society from increased government investment in educating the children of the poor.
- Krueger was found dead at his home in Princeton on March 16, 2019.[7] His family stated the cause of death was suicide.[7][24] In a statement, former President Obama declared: "Alan was someone who was deeper than numbers on a screen and charts on a page," adding, "He saw economic policy not as a matter of abstract theories, but as a way to make people’s lives better."
- ft and economist article 23mar19
economics as an academic subject
- https://www.economist.com/news/finance-and-economics/21739977-stem-students-have-better-visa-prospects-america-economics-renames-itself ECONOMISTS do not much like their discipline being dubbed the dismal science. Some American universities are paying more attention to the noun than to the adjective. The reason is not philosophical, but pragmatic. Foreign STEM graduates (the acronym stands for science, technology, engineering and mathematics) can get visa extensions for three years of practical training (ie, work). Those from other disciplines are allowed only a year.
1973
- The Nixon shock was a series of economic measures undertaken by United StatesPresident Richard Nixon in 1971, the most significant of which was the unilateral cancellation of the direct international convertibility of the United States dollar to gold. While Nixon's actions did not formally abolish the existing Bretton Woods systemof international financial exchange, the suspension of one of its key components effectively rendered the Bretton Woods system inoperative. While Nixon publicly stated his intention to resume direct convertibility of the dollar after reforms to the Bretton Woods system had been implemented, all attempts at reform proved unsuccessful. By 1973, the Bretton Woods system was replaced de facto by the current regime based on freely floating fiat currencies.
- In 1967, when sterling was devalued, the dollar's peg to the pound was increased from 1s 3d to 1s 4
1⁄2d ($14.5455 = £1) although this did not entirely offset the devaluation. In 1972, the Hong Kong dollar was pegged to the U.S. dollar at a rate of HK$5.65 = US$1. This was revised to HK$5.085 = US$1 in 1973. Between 1974 and 1983, the Hong Kong dollar was floated. On 17 October 1983, the currency was pegged at a rate of HK$7.8 = US$1, through the currency board system.capitalism
- bureaucratic capitalism
- [situationist international] tangible reality of alienation, banalisation, reducation of material poverty accompanied by a spreding mediocrity of existence
- the alienate
- slaves, jacques (french peasants who revolted in the jacquerie of 1358; by extension, a jacquerie is any particularly violent peasant rebellion), iconoclasts, enrages (extreme radical current during the french revolution), federes (insurgents of the paris commune, particularly those massacred during its last stand), kronstadt, asturias, hooligans of stockholm and the wildcat strikes
- demise of private sector
- 美國高中畢業生人數近年持續下降，導致多間大 學收生不足，對於學費較昂貴的私立大學而言，打擊尤其 沉重。不少私立大學為爭奪更多學生入讀，紛紛推出各種學費優 惠或獎學金，更甚者將學費減至與公立大學看齊。有大學生趁此 良機向學校「討價還價」，覓得學費減 2/3 的超值優惠。http://pdf.wenweipo.com/2019/03/15/a21-0315.pdf
The Poverty of Philosophy (French: Misère de la philosophie) is a book by Karl Marx published in Paris and Brussels in 1847, where he lived in exile from 1843 until 1849. It was originally written in French as an answer to the economic and philosophical arguments of French anarchist Pierre-Joseph Proudhon set forth in his 1846 book The System of Economic Contradictions, or The Philosophy of Poverty.Pierre-Joseph Proudhon (1809-1865) was a French anarchist theoretician who wrote extensively on the relationship between the individual and the state. Proudhon believed in an orderly society but argued that the state represented an illegitimate concentration of official violence which effectively undercut any effort to build a just society.[1] Proudhon rejected all political action as a form of class collaboration but argued instead that the working class could achieve its salvation through economic action alone; abstention from politics was advocated with a view to the ultimate eradication of the existing state and its political apparatus.[2]Proudhon believed that the stateless future was not preordained by iron laws of history, but was rather to be the conscious creation of a population which had been morally awakened.[3] This necessary morality, based upon honesty, decency, self-respect, and individual responsibility, was believed to be an inherent part of the working class—something to be developed and emphasized.[3]By way of contrast, industrialists, businessmen, and those who serve them were held to be incapable of developing this morality due to the nature of their day-to-day economic and political activity.[3] The act of labor itself was believed to be socially ennobling, whereas the act of economic exploitation backed by political force was held to be inherently corrupting.[4] Therefore, Proudhon emphatically declared for a strict separatism between the working class and all others.The tone of Marx's polemic against Proudhon is set from the outset, with a witty cut in lieu of a foreword:
Although prominently featuring the word "philosophy" in its title, The Poverty of Philosophy is essentially a book dealing with the subject of economics—first English-language translator Harry Quelch noted that the work contained "the groundwork of the theories so fully elaborated in Capital, apart from its exhaustive analysis of the capitalist system of production and distribution"[15] as well as law of value.[16] To argue the method to apply the dialectics to political economy, he cites the Science of Logic of Hegel.[17] And Marx rejects idea of Proudhon on consumption tax[18] and denial of strike action.[19] At the end of the book, he cites the words of George Sand: "Combat or Death: bloody struggle or extinction. It is thus that the question is inexorably put."[20] He also cites the theory of John Gray.[21] Indeed, the book has been called by one Soviet scholar "one of the first works of mature Marxism."
- The Feldman–Mahalanobis model is a Neo-Marxian model of economic development, created independently by Soviet economist Grigory Feldman in 1928,[1] and Indian statistician Prasanta Chandra Mahalanobis in 1953.[2] Mahalanobis became essentially the key economist of India's Second Five Year Plan, becoming subject to much of India's most dramatic economic debates. The essence of the model is a shift in the pattern of industrial investment towards building up a domestic consumption goods sector. Thus the strategy suggests in order to reach a high standard in consumption, investment in building a capacity in the production of capital goods is firstly needed. A high enough capacity in the capital goods sector in the long-run expands the capacity in the production of consumer goods. The distinction between the two different types of goods was a clearer formulation of Marx’s ideas in Das Kapital, and also helped people to better understand the extent of the trade off between the levels of immediate and future consumption. These ideas were however first introduced in 1928 by Feldman, an economist working for the GOSPLAN planning commission; presenting theoretical arguments of a two-department scheme of growth. There is no evidence that Mahalanobis knew of Feldman’s approach, being kept behind the borders of the USSR.
- ********https://www.quora.com/Why-didnt-Capitalism-originate-in-ancient-societies-Egypt-Rome-Greece-Mayans-etc-given-that-they-had-extensive-commerce-and-markets
property rights
- economist 12sep2020 "whose land?" enforcable property rights are still far too rare in poor countries
山羊經濟
- hkej 21nov19 a22 mozambique case article by project syndicate
經濟圈
- 紅色
- 黃色
"critical mass"
- https://www.scmp.com/comment/opinion/article/3045803/after-romancing-paris-south-korean-real-estate-investors-are In the first three-quarters of last year, Korean buyers acquired US$4.5 billion of French commercial real estate assets, all of them in the office sector, JLL notes.Indeed, preliminary data for 2019 as a whole, compiled by property consultancy Real Capital Analytics, throws the scale of Korean outbound investment into sharp relief. Korean investors acquired US$13.2 billion of European commercial real estate last year, more than the total amount spent by Singaporean, Chinese and Hong Kong buyers combined.A confluence of domestic and external factors have catapulted Korean purchasers to the top of the league table of cross-border investors.
山羊經濟
- hkej 21nov19 a22 mozambique case article by project syndicate
經濟圈
- 紅色
- appledaily 27nov19 尹思哲article mentioned such model introduced in hk in 1970s/80s
- 黃色
"critical mass"
- https://www.scmp.com/comment/opinion/article/3045803/after-romancing-paris-south-korean-real-estate-investors-are In the first three-quarters of last year, Korean buyers acquired US$4.5 billion of French commercial real estate assets, all of them in the office sector, JLL notes.Indeed, preliminary data for 2019 as a whole, compiled by property consultancy Real Capital Analytics, throws the scale of Korean outbound investment into sharp relief. Korean investors acquired US$13.2 billion of European commercial real estate last year, more than the total amount spent by Singaporean, Chinese and Hong Kong buyers combined.A confluence of domestic and external factors have catapulted Korean purchasers to the top of the league table of cross-border investors.
migration, movement of people
- economist 15feb2020 delayed reaction - immigration is down. wages are up. are the two related?
sharing economy
- economist 6jun2020 "what's mine is yours" firms that help consumers share things will survive the pandemic but must change - perhaps by returning to their roots
epidemic
- As a rule, epidemics create what researchers call a “U-shaped curve” of mortality – high death rates among the very young and very old, lower rates among working-age adults. (The 1918 flu was an exception; a disproportionate number of twenty-somethings perished.) For Native peoples, the U-shaped curve was as devastating as the sheer loss of life. As an indigenous archaeologist once put it to me, the epidemics simultaneously robbed his nation of its future and its past: the former, by killing all the children; the latter, by killing all the elders, who were its storehouses of wisdom and experience.https://www.scmp.com/magazines/post-magazine/long-reads/article/3088558/plague-and-spanish-flu-shaped-our-world-will
china
- 江村经济》是费孝通1938年在英国伦敦大学学习时撰写的博士论文，论文的依据是作者在江苏省吴江县开弦弓村（今属苏州市吴江区七都镇）的调查资料，最初以英文发表，题为《开弦弓，一个中国农村的经济生活》。1939年在英国出版，书名为《中国农民的生活》。作者将开弦弓取名为江村。1986年，江苏人民出版社出版中文本时沿用原书扉页上的《江村经济》一名。这是一本描述中国农民的消费、生产、分配和交易等体系的书，是根据对中国东部，太湖东南岸开弦弓村的实地考察写成的。它旨在说明这一经济体系与特定地理环境的关系，以及与这个社区的社会结构的关系。同大多数中国农村一样，这个村庄正经历着一个巨大的变迁过程。
- As a rule, epidemics create what researchers call a “U-shaped curve” of mortality – high death rates among the very young and very old, lower rates among working-age adults. (The 1918 flu was an exception; a disproportionate number of twenty-somethings perished.) For Native peoples, the U-shaped curve was as devastating as the sheer loss of life. As an indigenous archaeologist once put it to me, the epidemics simultaneously robbed his nation of its future and its past: the former, by killing all the children; the latter, by killing all the elders, who were its storehouses of wisdom and experience.https://www.scmp.com/magazines/post-magazine/long-reads/article/3088558/plague-and-spanish-flu-shaped-our-world-will
The New Palgrave Dictionary of Economics (2008), 2nd ed., is an eight-volume reference work on economics, edited by Steven N. Durlauf and Lawrence E. Blume and published by Palgrave Macmillan. It runs to 7,680 pages and 5.8 million words. It includes 1,844 articles, of which 1057 are new articles and, from the earlier edition, 80 "classic" essays, 157 revised articles, and 550 edited articles. It is the product of 1,506 contributors, 25 of them Nobel Laureates in Economics.[1] Articles are classified according to Journal of Economic Literature (JEL) classification codes.The New Palgrave is also available in a hyperlinked online version.
china
- 江村经济》是费孝通1938年在英国伦敦大学学习时撰写的博士论文，论文的依据是作者在江苏省吴江县开弦弓村（今属苏州市吴江区七都镇）的调查资料，最初以英文发表，题为《开弦弓，一个中国农村的经济生活》。1939年在英国出版，书名为《中国农民的生活》。作者将开弦弓取名为江村。1986年，江苏人民出版社出版中文本时沿用原书扉页上的《江村经济》一名。这是一本描述中国农民的消费、生产、分配和交易等体系的书，是根据对中国东部，太湖东南岸开弦弓村的实地考察写成的。它旨在说明这一经济体系与特定地理环境的关系，以及与这个社区的社会结构的关系。同大多数中国农村一样，这个村庄正经历着一个巨大的变迁过程。
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