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James Laurence Laughlin
James Laurence Laughlin (April 2, 1850 – November 28, 1933) was an American economist and Professor at Cornell University, Harvard University, and the University of Chicago, who helped to found the Federal Reserve System and was "one of the most ardent defenders of the gold standard." Early life Laughlin was born in Deerfield, Ohio on April 2, 1850. He received a Ph.D. from Harvard University in history. His thesis regarded "Anglo-Saxon Legal Procedure" and was supervised by Henry Adams. The other members of his program were Henry Cabot Lodge and Ernest Young. A conservative, he generally subscribed to the economic theories of John Stuart Mill and opposed bimetallism. Laughlin taught at Harvard University in Boston for five years, at Cornell University for two years, and then became the department-head of the new economics department at the University of Chicago from 1892 to 1916. Notably, he appointed many economists with whom he avidly disagreed, such as Thorstein Veble ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
South Lebanon, Ohio
South Lebanon is a city located in Union and Hamilton Townships in central Warren County in the southwestern part of the U.S. state of Ohio. The population was 4,115 at the 2010 census. History The first settlement at South Lebanon was made in the 1790s. The village was originally called "Deerfield" because it was the chief settlement of Deerfield Township, Warren County, Ohio, but renamed because of its proximity to the county seat of Lebanon. The new name of "South Lebanon" was adopted when the railroad was built through the neighborhood. A post office was established under the name Deerfield Village in 1828, and the name of the post office was changed to South Lebanon in 1871. Geography South Lebanon is located at (39.370581, -84.216084). According to the United States Census Bureau, the village has a total area of , of which is land and is water. Demographics Most of the village is in the Kings Local School District, but parts are in the Little Miami Local and Lebanon C ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
1896 United States Presidential Election
The 1896 United States presidential election was the 28th quadrennial presidential election, held on Tuesday, November 3, 1896. Former Governor William McKinley, the Republican candidate, defeated former Representative William Jennings Bryan, the Democratic candidate. The 1896 campaign, which took place during an economic depression known as the Panic of 1893, was a political realignment that ended the old Third Party System and began the Fourth Party System. Incumbent Democratic President Grover Cleveland did not seek election to a second consecutive term (which would have been his third overall), leaving the Democratic nomination open. Bryan, an attorney and former Congressman, galvanized support with his Cross of Gold speech, which called for a reform of the monetary system and attacked business leaders as the cause of ongoing economic depression. The 1896 Democratic National Convention repudiated the Cleveland administration and nominated Bryan on the fifth presidential ball ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Banking
A bank is a financial institution that accepts deposits from the public and creates a demand deposit while simultaneously making loans. Lending activities can be directly performed by the bank or indirectly through capital markets. Because banks play an important role in financial stability and the economy of a country, most jurisdictions exercise a high degree of regulation over banks. Most countries have institutionalized a system known as fractional reserve banking, under which banks hold liquid assets equal to only a portion of their current liabilities. In addition to other regulations intended to ensure liquidity, banks are generally subject to minimum capital requirements based on an international set of capital standards, the Basel Accords. Banking in its modern sense evolved in the fourteenth century in the prosperous cities of Renaissance Italy but in many ways functioned as a continuation of ideas and concepts of credit and lending that had their roots in the a ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Money
Money is any item or verifiable record that is generally accepted as payment for goods and services and repayment of debts, such as taxes, in a particular country or socio-economic context. The primary functions which distinguish money are as a medium of exchange, a unit of account, a store of value and sometimes, a standard of deferred payment. Money was historically an emergent market phenomenon that possess intrinsic value as a commodity; nearly all contemporary money systems are based on unbacked fiat money without use value. Its value is consequently derived by social convention, having been declared by a government or regulatory entity to be legal tender; that is, it must be accepted as a form of payment within the boundaries of the country, for "all debts, public and private", in the case of the United States dollar. Contexts which erode public confidence, such as the circulation of counterfeit money or domestic hyperinflation, can cause good money to lose its value. ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Milton Friedman
Milton Friedman (; July 31, 1912 – November 16, 2006) was an American economist and statistician 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. With George Stigler and others, Friedman was among the intellectual leaders of the Chicago school of economics, a neoclassical school of economic thought associated with the work of the faculty at the University of Chicago that rejected Keynesianism in favor of monetarism until the mid-1970s, when it turned to new classical macroeconomics heavily based on the concept of rational expectations. Several students, young professors and academics who were recruited or mentored by Friedman at Chicago went on to become leading economists, including Gary Becker, Robert Fogel, Thomas Sowell and Robert Lucas Jr. Friedman's challenges to what he called "naive Keynesian theory" began with his interpretation ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Economic Theory
Economics () is the social science that studies the production, distribution, and consumption of goods and services. Economics focuses on the behaviour and interactions of economic agents and how economies work. Microeconomics analyzes what's viewed as basic elements in the economy, including individual agents and markets, their interactions, and the outcomes of interactions. Individual agents may include, for example, households, firms, buyers, and sellers. Macroeconomics analyzes the economy as a system where production, consumption, saving, and investment interact, and factors affecting it: employment of the resources of labour, capital, and land, currency inflation, economic growth, and public policies that have impact on these elements. Other broad distinctions within economics include those between positive economics, describing "what is", and normative economics, advocating "what ought to be"; between economic theory and applied economics; between rational an ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Wesley Clair Mitchell
Wesley Clair Mitchell (August 5, 1874 – October 29, 1948) was an American economist known for his empirical work on business cycles and for guiding the National Bureau of Economic Research in its first decades. Mitchell was referred to as Thorstein Veblen's "star student." Paul Samuelson named Mitchell (along with Harry Gunnison Brown, Allyn Abbott Young, Henry Ludwell Moore, Frank Knight, Jacob Viner, and Henry Schultz) as one of the several "American saints in economics" born after 1860. Biography Mitchell was born in Rushville, Illinois, the second child and oldest son of a Civil War army doctor turned farmer. In a family with seven children and a disabled father with an appetite for business ventures "verging on rashness" a lot of responsibility fell on the oldest son. Despite these challenges, Wesley Clair went to study at the University of Chicago and was awarded a PhD in 1899. Mitchell's career as a researcher and teacher took the following course: instructor in econ ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Fitchburg Sentinel
The ''Sentinel & Enterprise'' is a morning daily newspaper published in Fitchburg, Massachusetts, with a satellite news bureau in Leominster, Massachusetts. The newspaper covers local news in Fitchburg, Leominster and several nearby towns in northern Worcester County and northwest Middlesex County, Massachusetts. It is owned by MediaNews Group of Colorado. The main competitors to the ''Sentinel & Enterprise'' are the county's largest daily, the ''Telegram & Gazette'' of Worcester; on the west, '' The Gardner News''; and on the east, Nashoba Publishing weeklies and '' The Sun'' of Lowell, also owned by MediaNews. History Formed in 1973 by the merger of two newspapers covering adjacent cities, the daily traces its lineage back to the ''Fitchburg Sentinel'' (founded 1838) and ''Leominster Enterprise'' (1873).Elfland, Mike. "Sentinel & Enterprise Sale Set." ''Telegram & Gazette'' (Worcester, Mass.), January 8, 1997. In the 1980s, the paper was known as the ''Fitchburg-Leominster ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Monetary Policy
Monetary policy is the policy adopted by the monetary authority of a nation to control either the interest rate payable for very short-term borrowing (borrowing by banks from each other to meet their short-term needs) or the money supply, often as an attempt to reduce inflation or the interest rate, to ensure price stability and general trust of the value and stability of the nation's currency. Monetary policy is a modification of the supply of money, i.e. "printing" more money, or decreasing the money supply by changing interest rates or removing excess reserves. This is in contrast to fiscal policy, which relies on taxation, government spending, and government borrowing as methods for a government to manage business cycle phenomena such as recessions. Further purposes of a monetary policy are usually to contribute to the stability of gross domestic product, to achieve and maintain low unemployment, and to maintain predictable exchange rates with other currencies. Monetary ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Macroeconomics
Macroeconomics (from the Greek prefix ''makro-'' meaning "large" + ''economics'') is a branch of economics dealing with performance, structure, behavior, and decision-making of an economy as a whole. For example, using interest rates, taxes, and government spending to regulate an economy's growth and stability. This includes regional, national, and global economies. According to a 2018 assessment by economists Emi Nakamura and Jón Steinsson, economic "evidence regarding the consequences of different macroeconomic policies is still highly imperfect and open to serious criticism." Macroeconomists study topics such as Gross domestic product, GDP (Gross Domestic Product), unemployment (including Unemployment#Measurement, unemployment rates), national income, price index, price indices, output (economics), output, Consumption (economics), consumption, inflation, saving, investment (macroeconomics), investment, Energy economics, energy, international trade, and international finance. ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Santo Domingo
, total_type = Total , population_density_km2 = auto , timezone = AST (UTC −4) , area_code_type = Area codes , area_code = 809, 829, 849 , postal_code_type = Postal codes , postal_code = 10100–10699 (Distrito Nacional) , website Ayuntamiento del Distrito Nacional Santo Domingo ( meaning "Saint Dominic"), once known as Santo Domingo de Guzmán and Ciudad Trujillo, is the capital and largest city of the Dominican Republic and the largest metropolitan area in the Caribbean by population. As of 2022, the city and immediate surrounding area (the Distrito Nacional) had a population of 1,484,789, while the total population is 2,995,211 when including Greater Santo Domingo (the "metropolitan area"). The city is coterminous with the boundaries of the Distrito Nacional ("D.N.", "National District"), itself bordered on three sides by Santo Domingo Province. Founded by the Spanish in 1496, on the east bank of the Ozama River and then moved by Nicolás de Ovando in 1502 ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
American Economic Association
The American Economic Association (AEA) is a learned society in the field of economics. It publishes several peer-reviewed journals acknowledged in business and academia. There are some 23,000 members. History and Constitution The AEA was established in 1885 in Saratoga Springs, New York by younger progressive economists trained in the German historical school, including Richard T. Ely, Edwin Robert Anderson Seligman and Katharine Coman, the only woman co-founder; since 1900 it has been under the control of academics. The purposes of the Association are: 1) The encouragement of economic research, especially the historical and statistical study of the actual conditions of industrial life; 2) The issue of publications on economic subjects; 3) The encouragement of perfect freedom of economic discussion. The Association as such will take no partisan attitude, nor will it commit its members to any position on practical economic questions. The Association publishes one of the most pr ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
