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Engel Law
Engel's law is an economic relationship proposed by the statistician Ernst Engel in 1857. Even though Engel's law was proposed roughly 160 years ago, it holds relevance today in the context of poverty, especially the reduction of poverty. For instance, the lines and rates for national poverty are often determined by the food share of household expenditure. One definition of Engel's law by the Merriam-Webster dictionary is as follows: ''"a generalization in economics: such as family income increases, the percentage spent for food decreases, that spent for clothing, rent, heat, and light remains the same, while that spent for education, health, and recreation increases"'' A quotation of Engel himself from 1932 reveals the same relationship between income and percentage of income spent on food, but also indicates the application of Engel's Law in measuring standard of living: ''"The poorer is a family, the greater is the proportion of the total outgo amily expenditureswhich ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Correlation Does Not Imply Causation
The phrase "correlation does not imply causation" refers to the inability to legitimately deduce a cause-and-effect relationship between two events or variables solely on the basis of an observed association or correlation between them. The idea that "correlation implies causation" is an example of a questionable-cause logical fallacy, in which two events occurring together are taken to have established a cause-and-effect relationship. This fallacy is also known by the Latin phrase ''cum hoc ergo propter hoc'' ('with this, therefore because of this'). This differs from the fallacy known as ''post hoc ergo propter hoc'' ("after this, therefore because of this"), in which an event following another is seen as a necessary consequence of the former event, and from conflation, the errant merging of two events, ideas, databases, etc., into one. As with any logical fallacy, identifying that the reasoning behind an argument is flawed does not necessarily imply that the resulting con ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Economic Inequality
There are wide varieties of economic inequality, most notably income inequality measured using the distribution of income (the amount of money people are paid) and wealth inequality measured using the distribution of wealth (the amount of wealth people own). Besides economic inequality between countries or states, there are important types of economic inequality between different groups of people. Important types of economic measurements focus on wealth, income, and consumption. There are many methods for measuring economic inequality, the Gini coefficient being a widely used one. Another type of measure is the Inequality-adjusted Human Development Index, which is a statistic composite index that takes inequality into account. Important concepts of equality include equity, equality of outcome, and equality of opportunity. Whereas globalization has reduced global inequality (between nations), it has increased inequality within nations. Income inequality between nations peak ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Eponyms
An eponym is a person, a place, or a thing after whom or which someone or something is, or is believed to be, named. The adjectives which are derived from the word eponym include ''eponymous'' and ''eponymic''. Usage of the word The term ''eponym'' functions in multiple related ways, all based on an explicit relationship between two named things. A person, place, or thing named after a particular person share an eponymous relationship. In this way, Elizabeth I of England is the eponym of the Elizabethan era. When Henry Ford is referred to as "the ''eponymous'' founder of the Ford Motor Company", his surname "Ford" serves as the eponym. The term also refers to the title character of a fictional work (such as Rocky Balboa of the ''Rocky'' film series), as well as to ''self-titled'' works named after their creators (such as the album ''The Doors'' by the band the Doors). Walt Disney created the eponymous Walt Disney Company, with his name similarly extended to theme parks such as ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Economics Laws
Economic law is a set of legal rules for regulating economic activity. In the legal system of the Soviet Union, economic law was the legal theory and system under which economic relations were a legal discipline independent of criminal law and civil law.Ferdinand Joseph Maria Feldbrugge, Gerard Pieter van den Berg, William B. Simons (1985) "Encyclopedia of Soviet Law", ''BRILL'', O. S. (Olimpiad Solomonovich) Ioffe, Mark W. Janis (1987) "Soviet Law and Economy", Martinus Nijhoff Publishers, In the Soviet legal system, the purpose of the economic law was to regulate the relations arising from the economic activities. The theory of the independence of the economic law was pursued after the 21st Congress of the CPSU of 1959, with the principal proponent being V.V. Laptev. After debate, this position was adopted by the decrees of the CPSU and the USSR Council of Ministers during 1970–1975 and finalized in the 1977 Soviet Constitution. See also *Constitutional economics *Law a ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Bennett's Law
In agricultural economics and development economics, Bennett's law observes that as incomes rise, people eat relatively fewer calorie-dense starchy staple foods and relatively more nutrient-dense meats, oils, sweeteners, fruits, and vegetables. Bennett's law is related to Engel's law, which considers the relationship between rising household incomes and total food spending. History The concept of the declining "starchy-staple ratio" originated in Merrill K. Bennett's 1941 paper, "International Contrasts in Food Consumption." The first published attribution of the concept to Bennett and naming as Bennett's law appears in the proceedings of a 1959 conference held by the American Society of Civil Engineers. Contemporary use and implications Bennett's law is now a "well-established stylized fact" referenced in university textbooks, reports of the FAO and the World Bank, and many global food system models. It has particular relevance to the Nutrition Transition. One implication ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Poverty
Poverty is the state of having few material possessions or little income. Poverty can have diverse social, economic, and political causes and effects. When evaluating poverty in statistics or economics there are two main measures: ''absolute poverty'' compares income against the amount needed to meet basic needs, basic personal needs, such as food, clothing, and Shelter (building), shelter; ''relative poverty'' measures when a person cannot meet a minimum level of living standards, compared to others in the same time and place. The definition of ''relative poverty'' varies from one country to another, or from one society to another. Statistically, , most of the world's population live in poverty: in Purchasing Power Parity, PPP dollars, 85% of people live on less than $30 per day, two-thirds live on less than $10 per day, and 10% live on less than $1.90 per day ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
United Nations
The United Nations (UN) is an intergovernmental organization whose stated purposes are to maintain international peace and international security, security, develop friendly relations among nations, achieve international cooperation, and be a centre for harmonizing the actions of nations. It is the world's largest and most familiar international organization. The UN is headquarters of the United Nations, headquartered on extraterritoriality, international territory in New York City, and has other main offices in United Nations Office at Geneva, Geneva, United Nations Office at Nairobi, Nairobi, United Nations Office at Vienna, Vienna, and Peace Palace, The Hague (home to the International Court of Justice). The UN was established after World War II with Dumbarton Oaks Conference, the aim of preventing future world wars, succeeding the League of Nations, which was characterized as ineffective. On 25 April 1945, 50 governments met in San Francisco for United Nations Conference ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Standard Of Living
Standard of living is the level of income, comforts and services available, generally applied to a society or location, rather than to an individual. Standard of living is relevant because it is considered to contribute to an individual's quality of life. Standard of living is generally concerned with objective metrics outside an individual's personal control, such as economic, societal, political and environmental matters – such things that an individual might consider when evaluating where to live in the world, or when assessing the success of economic policy. In international law, an "adequate standard of living" was first described in the Universal Declaration of Human Rights and further described in the International Covenant on Economic, Social and Cultural Rights. To evaluate the impact of policy for sustainable development, different disciplines have defined Decent Living Standards in order to evaluate or compare relative living experience. During much of its use in e ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Median Income
The median income is the income amount that divides a population into two equal groups, half having an income above that amount, and half having an income below that amount. It may differ from the mean (or average) income. Both of these are ways of understanding income distribution. Median income can be calculated by household income, by personal income, or for specific demographic groups. Median equivalent adult income The following table represents data from OECD's "median disposable income per person" metric; disposable income deducts from gross income the value of taxes on income and wealth paid and of contributions paid by households to public social security schemes. The figures are equivalised by dividing income by the square root of household size. As OECD displays median disposable incomes in each country's respective currency, the values were converted here using PPP conversion factors for private consumption from the same source, accounting for each country's cost of ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Hendrik S
Hendrik may refer to: * Hendrik (given name) * Hans Hendrik, Greenlandic Arctic traveller and interpreter * Hendrik Island, an island in Greenland * Hendrik-Ido-Ambacht, a municipality in the Netherlands * A character from ''Dragon Quest XI'' See also * Hendrich (other) * Hendrick (other) Hendrick may refer to: People * Hendrick (given name), alternative spelling of the Dutch given name Hendrik * Hendrick (surname) * King Hendrick (other), one of two Mohawk leaders who have often been conflated: ** Hendrick Tejonihokara ... * Henrich {{disambig, surname ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Carle C
Carle or Carlé is a surname. Notable people with the name include: *Andrea Cosima Carle, whose stage name is Maggie Mae (1960 – 2021), German singer *Barbara Carle (born 1958), French-American poet, critic, translator and Italianist * David Carle (born 1989), American ice hockey coach * Derek Carle (born 1973), Zimbabwean cricketer *Eric Carle (1929–2021), American designer, illustrator, and writer of children's books * Erwin Carlé, know by the pseudonym Erwin Rosen (1876 - 1923), German author and journalist *Frankie Carle (1903–2001), American pianist and bandleader *Jerry Carle (1923–2014), American football, basketball, and baseball player and coach *Gabrielle Carle (born 1998), Canadian soccer forward *Gilles Carle (1928–2009), French Canadian director, screenwriter and painter *Glenn Carle, American writer and former intelligence officer *Jean Carle (born 1962), Canadian former civil servant, business executive, and Liberal Party operative *Jean-Claude Carle (1948 ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
