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Minsky (economic Simulator)
Steve Keen (born 28 March 1953) is an Australian economist and author. He considers himself a post-Keynesian, criticising neoclassical economics as inconsistent, unscientific and empirically unsupported. The major influences on Keen's thinking about economics include John Maynard Keynes, Karl Marx, Hyman Minsky, Piero Sraffa, Augusto Graziani, Joseph Alois Schumpeter, Thorstein Veblen, and François Quesnay. Hyman Minsky's financial instability hypothesis forms the main basis of his major contribution to economics which mainly concentrates on mathematical modelling and simulation of financial instability. He is a notable critic of the Australian property bubble, as he sees it. Keen was formerly an associate professor of economics at University of Western Sydney, until he applied for voluntary redundancy in 2013, due to the closure of the economics program at the university. In autumn 2014, he became a professor and Head of the School of Economics, History and Politics at Kingsto ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Post-Keynesian Economics
Post-Keynesian economics is a school of economic thought with its origins in ''The General Theory'' of John Maynard Keynes, with subsequent development influenced to a large degree by Michał Kalecki, Joan Robinson, Nicholas Kaldor, Sidney Weintraub, Paul Davidson, Piero Sraffa and Jan Kregel. Historian Robert Skidelsky argues that the post-Keynesian school has remained closest to the spirit of Keynes' original work. It is a heterodox approach to economics. Introduction The term "post-Keynesian" was first used to refer to a distinct school of economic thought by Alfred Eichner, Eichner and Kregel (1975) and by the establishment of the ''Journal of Post Keynesian Economics'' in 1978. Prior to 1975, and occasionally in more recent work, ''post-Keynesian'' could simply mean economics carried out after 1936, the date of Keynes's ''General Theory''. Post-Keynesian economists are united in maintaining that Keynes' theory is seriously misrepresented by the two other principal Keyne ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Financial Crises
A financial crisis is any of a broad variety of situations in which some financial assets suddenly lose a large part of their nominal value. In the 19th and early 20th centuries, many financial crises were associated with banking panics, and many recessions coincided with these panics. Other situations that are often called financial crises include stock market crashes and the bursting of other financial bubbles, currency crises, and sovereign defaults. Financial crises directly result in a loss of paper wealth but do not necessarily result in significant changes in the real economy (e.g. the crisis resulting from the famous tulip mania bubble in the 17th century). Many economists have offered theories about how financial crises develop and how they could be prevented. There is no consensus, however, and financial crises continue to occur from time to time. Types Banking crisis When a bank suffers a sudden rush of withdrawals by depositors, this is called a ''bank run''. Si ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Bachelor Of Laws
Bachelor of Laws ( la, Legum Baccalaureus; LL.B.) is an undergraduate law degree in the United Kingdom and most common law jurisdictions. Bachelor of Laws is also the name of the law degree awarded by universities in the People's Republic of China, Hong Kong S.A.R., Macau S.A.R., Malaysia, Bangladesh, India, Japan, Pakistan, Kenya, Ghana, Nigeria, South Africa, Botswana, Israel, Brazil, Tanzania, Zambia, and many other jurisdictions. In the United States, the Bachelor of Laws was also the primary law degree historically, but was phased out in favour of the Juris Doctor degree in the 1960s. Canadian practice followed suit in the first decade of the 21st century, phasing out the Bachelor of Laws for the Juris Doctor. History of academic degrees The first academic degrees were all law degrees in medieval universities, and the first law degrees were doctorates. The foundations of the first universities were the glossators of the 11th century, which were also schools of law. The ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
University College Of London
, mottoeng = Let all come who by merit deserve the most reward , established = , type = Public research university , endowment = £143 million (2020) , budget = £1.544 billion (2019/20) , chancellor = Anne, Princess Royal(as Chancellor of the University of London) , provost = Michael Spence , head_label = Chair of the council , head = Victor L. L. Chu , free_label = Visitor , free = Sir Geoffrey Vos , academic_staff = 9,100 (2020/21) , administrative_staff = 5,855 (2020/21) , students = () , undergrad = () , postgrad = () , coordinates = , campus = Urban , city = London, England , affiliations = , colours = Purple and blue celeste , nickname ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Centre For Policy Development
Centre for Policy Development is a public policy think tank in Australia. CPD claims to be independent and non-partisan. Personnel Past research fellows *Mark BahnischStatement on resignation from CPD and alternative: public statement by Mark Bahnisch, Eva Cox and John Quiggin, (24 April 2015), The New Social Democrat accessed 24 April 2015 * * John Quiggin
John Quiggin (born 29 March 1956) is an ...
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Fellow
A fellow is a concept whose exact meaning depends on context. In learned or professional societies, it refers to a privileged member who is specially elected in recognition of their work and achievements. Within the context of higher educational institutions, a fellow can be a member of a highly ranked group of teachers at a particular college or university or a member of the governing body in some universities (such as the Fellows of Harvard College); it can also be a specially selected postgraduate student who has been appointed to a post (called a fellowship) granting a stipend, research facilities and other privileges for a fixed period (usually one year or more) in order to undertake some advanced study or research, often in return for teaching services. In the context of research and development-intensive large companies or corporations, the title "fellow" is sometimes given to a small number of senior scientists and engineers. In the context of medical education in No ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Kingston University
, mottoeng = "Through Learning We Progress" , established = – gained University Status – Kingston Technical Institute , type = Public , endowment = £2.3 m (2015) , chancellor = , vice_chancellor = Steven Spier , students = () , undergrad = () , postgrad = () , city = Penrhyn Road, Kingston upon Thames, London KT1 2EE , country = United Kingdom , campus = Urban , athletics = , colours = Blue and White , website = , logo = , administrative_staff = , coor = , affiliations = Association of MBAs ACU University Alliance EUA Universities UK Kingston University London is a public research university located within the Royal Borough of Kingston upon Thames, in South Wes ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
University Of Western Sydney
Western Sydney University, formerly the University of Western Sydney, is an Australian multi-campus university in the Greater Western region of Sydney, Australia. The university in its current form was founded in 1989 as a federated network university with an amalgamation between the Nepean College of Advanced Education and the Hawkesbury Agricultural College. The Macarthur Institute of Higher Education was incorporated in the university in 1989. In 2001, the University of Western Sydney was restructured as a single multi-campus university rather than as a federation. In 2015, the university underwent a rebranding which resulted in a change in name from the University of Western Sydney to Western Sydney University. It is a provider of undergraduate, postgraduate, and higher research degrees with campuses in Bankstown, Blacktown, Campbelltown, Hawkesbury, Liverpool, Parramatta, and Penrith. In 2022, it was ranked in the top 201–250 in the world and jointly 11th in Australi ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Australian Property Bubble
The Australian property bubble is the economic theory that the Australian property market has become or is becoming significantly overpriced and due for a significant downturn (also called a correction or collapse). Since the early 2010s, various commentators, including one Treasury official, have claimed the Australian property market is in a significant bubble. Various industry professionals have argued that it is not a bubble and that house prices have the potential to keep rising in line with income growth. The RBA believe that most of the recent rise in property prices since the 1980s, when interest rates have decreased from medium term record highs to record lows, as a transmission mechanism to generate the wealth effect and stimulate the economy. A property bubble is a form of economic bubble normally characterised by a rapid increase in market prices of real property until they reach unsustainable levels relative to incomes and rents, and then decline. Australian house pr ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Joseph Alois Schumpeter
Joseph Alois Schumpeter (; February 8, 1883 – January 8, 1950) was an Austrian-born political economist. He served briefly as Finance Minister of German-Austria in 1919. In 1932, he emigrated to the United States to become a professor at Harvard University, where he remained until the end of his career, and in 1939 obtained American citizenship. Schumpeter was one of the most influential economists of the early 20th century, and popularized the term "creative destruction", which was coined by Werner Sombart. Early life and education Schumpeter was born in Triesch, Habsburg Moravia (now Třešť in the Czech Republic, then part of Austria-Hungary) in 1883 to German-speaking Catholic parents. Both of his grandmothers were Czech. Schumpeter did not acknowledge his Czech ancestry; he considered himself an ethnic German. His father owned a factory, but he died when Joseph was only four years old. In 1893, Joseph and his mother moved to Vienna. Schumpeter was a loyal supporter of ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Economics
Economics () is the social science that studies the Production (economics), production, distribution (economics), distribution, and Consumption (economics), consumption of goods and services. Economics focuses on the behaviour and interactions of Agent (economics), economic agents and how economy, economies work. Microeconomics analyzes what's viewed as basic elements in the economy, including individual agents and market (economics), 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 glossary of economics, these elements. Other broad distinctions within economics include those between positive economics, desc ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Neoclassical Economics
Neoclassical economics is an approach to economics in which the production, consumption and valuation (pricing) of goods and services are observed as driven by the supply and demand model. According to this line of thought, the value of a good or service is determined through a hypothetical maximization of utility by income-constrained individuals and of profits by firms facing production costs and employing available information and factors of production. This approach has often been justified by appealing to rational choice theory, a theory that has come under considerable question in recent years. Neoclassical economics historically dominated macroeconomics and, together with Keynesian economics, formed the neoclassical synthesis which dominated mainstream economics as "neo-Keynesian economics" from the 1950s to the 1970s.Clark, B. (1998). ''Principles of political economy: A comparative approach''. Westport, Connecticut: Praeger. Nadeau, R. L. (2003). ''The Wealth of Na ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
