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Mancur Olson
Mançur Lloyd Olson Jr. (; January 22, 1932 – February 19, 1998) was an American economist and political scientist who taught at the University of Maryland, College Park. His most influential contributions were in institutional economics, and in the role which private property, taxation, public goods, collective action, and contract rights play in economic development. Early life and education Olson was born on January 22, 1932, in Grand Forks, North Dakota, to a family of Norwegian immigrants. He grew up on a farm near Buxton, North Dakota, next to the state border with Climax, Minnesota. Olson claimed that his given name, Mançur, was common throughout Scandinavian-immigrant communities in North America and was a variation of the Arabic name Mansoor. Olson graduated from North Dakota State University in 1954 and was a Rhodes Scholar at University College, Oxford until 1956, before earning a PhD in economics from Harvard in 1963. He also served in the U.S. Air Force fo ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
New Institutional Economics
New Institutional Economics (NIE) is an economic perspective that attempts to extend economics by focusing on the institutions (that is to say the social and legal norms and rules) that underlie economic activity and with analysis beyond earlier institutional economics and neoclassical economics. Unlike neoclassical economics, it also considers the role of culture and classical political economy in economic development. The NIE assume that individuals are rational and that they seek to maximize their preferences, but that they also have cognitive limitations, lack complete information and have difficulties monitoring and enforcing agreements. As a result, institutions form in large part as an effective way to deal with transaction costs. NIE rejects that the state is a neutral actor (rather, it can hinder or facilitate effective institutions), that there are zero transaction costs, and that actors have fixed preferences. Overview It has its roots in two articles by Ronald Coase ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Private Property
Private property is a legal designation for the ownership of property by non-governmental legal entities. Private property is distinguishable from public property and personal property, which is owned by a state entity, and from collective or cooperative property, which is owned by a group of non-governmental entities. Private property is foundational to capitalism, an economic system based on the private ownership of the means of production and their operation for profit. The distinction between private and personal property varies depending on political philosophy, with socialist perspectives making a hard distinction between the two. As a legal concept, private property is defined and enforced by a country's political system. History Ideas about and discussion of private property date back to the Persian Empire, and emerge in the Western tradition at least as far back as Plato. Prior to the 18th century, English speakers generally used the word "property" in reference ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
United States Air Force Academy
The United States Air Force Academy (USAFA) is a United States service academy in El Paso County, Colorado, immediately north of Colorado Springs. It educates cadets for service in the officer corps of the United States Air Force and United States Space Force. It is the youngest of the five service academies, having graduated its first class in 1959, but is the third in seniority. Graduates of the academy's four-year program receive a Bachelor of Science degree and are commissioned as second lieutenants in the U.S. Air Force or U.S. Space Force. The academy is also one of the largest tourist attractions in Colorado, attracting approximately a million visitors each year. Admission is highly competitive, with nominations divided equally among Congressional districts. Recent incoming classes have had about 1,200 cadets; since 2012, around 20% of each incoming class does not graduate. During their tenure at the Academy, cadets receive tuition, room and board, and a monthl ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Economics
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 a ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
University College, Oxford
University College (in full The College of the Great Hall of the University of Oxford, colloquially referred to as "Univ") is a constituent college of the University of Oxford in England. It has a claim to being the oldest college of the university, having been founded in 1249 by William of Durham. As of 2018, the college had an estimated financial endowment of £132.7m. The college is associated with a number of influential people, including Clement Attlee, Harold Wilson, Bill Clinton, Neil Gorsuch, Stephen Hawking, C. S. Lewis, V. S. Naipaul, Robert Reich, William Beveridge, Bob Hawke, Robert Cecil, and Percy Bysshe Shelley. History A legend arose in the 14th century that the college was founded by King Alfred in 872. This explains why the college arms are those attributed to King Alfred, why the Visitor is always the reigning monarch, and why the college celebrated its millennium in 1872. Most agree that in reality the college was founded in 1249 by William ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Rhodes Scholar
The Rhodes Scholarship is an international postgraduate award for students to study at the University of Oxford, in the United Kingdom. Established in 1902, it is the oldest graduate scholarship in the world. It is considered among the world's most prestigious international scholarship programs. Its founder, Cecil John Rhodes, wanted to promote unity among English-speaking nations and instill a sense of civic-minded leadership and moral fortitude in future leaders, irrespective of their chosen career paths. Initially restricted to male applicants from countries that are today within the Commonwealth, Germany and the United States, the scholarship is now open to applicants from all backgrounds and genders around the world. Since its creation, controversy has surrounded its initial exclusion of women, its historical failure to select black Africans, and Cecil Rhodes's own standing as a British imperialist. Rhodes Scholars have achieved distinction as politicians, academics, s ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Mansoor
Mansour ( ar, منصور, Manṣūr); also spelled Mounsor, Monsur (Bengali), Mansoor, Manser, Mansur, Mansyur (Indonesian) or Mensur (Turkish), is a male Arabic name that means "He who is victorious", from the Arabic root '' naṣr'' (نصر), meaning "victory." The first known bearer of the name was Al-Mansur, second Abbasid caliph and the founder of Baghdad. Other people called Mansour during the golden Age of Islam include: * Ismail al-Mansur, third ruler of the Fatimid dynasty ruled from 946 to 953. * Mansur Al-Hallaj, Persian mystic, writer, and teacher of Sufism * Almanzor, 10th-century ruler of al-Andalus * Mansur ibn Ilyas, Timurid physician * Mansur Khan (Moghul Khan), a khan of Moghulistan * Mansur Shah of Malacca, a sultan of Malacca * Mansur I of Samanid and Mansur II of Samanid, amirs of the Samanids * Mansur ad-Din of Adal, 15th-century sultan of Adal. Imams of Yemen * Al-Mansur Yahya (d. 976) * Al-Mansur Abdallah (1166-1217) * Al-Mansur al-Hasan (1199–1271 ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Climax, Minnesota
Climax is a city in Polk County, Minnesota, United States. It is part of the Grand Forks, ND- MN Metropolitan Statistical Area. The population was 243 at the 2020 census. Geography According to the United States Census Bureau, the city has a total area of , all land. It is located on the Sand Hill River, which joins the Red River of the North about two miles (3 km) to the west. U.S. Highway 75 and Minnesota Highway 220 are two of the main routes in the community. Demographics 2010 census As of the census of 2010, there were 267 people, 112 households, and 63 families living in the city. The population density was . There were 118 housing units at an average density of . The racial makeup of the city was 94.4% White, 1.9% African American, 0.7% Native American, 1.1% from other races, and 1.9% from two or more races. Hispanic or Latino of any race were 6.7% of the population. There were 112 households, of which 35.7% had children under the age of 18 living with them, ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Buxton, North Dakota
Buxton is a city in Traill County, North Dakota, United States. The population was 348 at the 2020 census. Buxton was founded in 1880. Today, it has become a bedroom community for the nearby Greater Grand Forks metropolitan area. History Buxton was founded in 1880 in Buxton Township as a townsite along the Great Northern Railroad in 1880. The post office began operating in November of that year. It was incorporated as a village in 1922. It became a city in 1967, after the North Dakota Legislature enacted legislation that eliminated all existing incorporation titles for towns and villages in the state. The town was named after Thomas J. Buxton, who at the time was the city treasurer in Minneapolis, Minnesota. Buxton was a close friend and business associated of the town's founder, Budd Reeve. Geography Buxton is located at (47.603230, -97.099770). According to the United States Census Bureau in 2010, the city has a total area of , all land. Demographics 2020 census As ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Norwegian-American
Norwegian Americans ( nb, Norskamerikanere, nn, Norskamerikanarar) are Americans with ancestral roots in Norway. Norwegian immigrants went to the United States primarily in the latter half of the 19th century and the first few decades of the 20th century. There are more than 4.5 million Norwegian Americans, according to the 2021 U.S. census,; most live in the Upper Midwest and on the West Coast of the United States. Immigration Viking-era exploration Norsemen from Greenland and Iceland were the first Europeans to reach North America. Leif Erikson reached North America via Norse settlements in Greenland around the year 1000. Norse settlers from Greenland founded the settlement of L'Anse aux Meadows and Point Rosee in Vinland, in what is now Newfoundland, Canada. These settlers failed to establish a permanent settlement because of conflicts with indigenous people and within the Norse community. Colonial settlement The Netherlands, and especially the cities of Amsterdam and ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Economic Development
In the economics study of the public sector, economic and social development is the process by which the economic well-being and quality of life of a nation, region, local community, or an individual are improved according to targeted goals and objectives. The term has been used frequently in the 20th and 21st centuries, but the concept has existed in the West for far longer. " Modernization", " Westernization", and especially " industrialization" are other terms often used while discussing economic development. Historically, economic development policies focused on industrialization and infrastructure; since the 1960s, it has increasingly focused on poverty reduction. Whereas economic development is a policy intervention aiming to improve the well-being of people, economic growth is a phenomenon of market productivity and increases in GDP; economist Amartya Sen describes economic growth as but "one aspect of the process of economic development". Economists primarily focus ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Contract
A contract is a legally enforceable agreement between two or more parties that creates, defines, and governs mutual rights and obligations between them. A contract typically involves the transfer of goods, services, money, or a promise to transfer any of those at a future date. In the event of a breach of contract, the injured party may seek judicial remedies such as damages or rescission. Contract law, the field of the law of obligations concerned with contracts, is based on the principle that agreements must be honoured. Contract law, like other areas of private law, varies between jurisdictions. The various systems of contract law can broadly be split between common law jurisdictions, civil law jurisdictions, and mixed law jurisdictions which combine elements of both common and civil law. Common law jurisdictions typically require contracts to include consideration in order to be valid, whereas civil and most mixed law jurisdictions solely require a meeting of th ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
