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Richard Normand Langlois
Richard Normand Langlois (born January 20, 1952 in Putnam, Connecticut) is an American economist and currently professor at the University of Connecticut. He studied physics and English literature at Williams College, he received a Master's in astronomy from Yale University, and he received his PhD in ''Engineering-Economic Systems'' from Stanford. Since May 2008, Langlois is also a contributor to the bloOrganizations and Markets He is attributed with first presenting the Vanishing Hand theory. Literature * 1982, Subjective Probability and Subjective Economics. New York : NY, C.V. Starr Center for Applied Economics, NYU, FAS, Department of Economics, Working Paper * 1984, Kaleidic and Structural Interpretations of Genuine Uncertainty. New York : NY, C.V. Starr Center for Applied Economics, NYU, FAS, Department of Economics, Working Paper * 1986, ''Economics as a Process: Essays in the New Institutional Economics.'' New York: Cambridge University Press, 1986. xi, 262 p. : ill. ; ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Putnam, Connecticut
Putnam is a town in Windham County, Connecticut, United States. The population was 9,224 at the 2020 census. History Putnam, originally known as Aspinock, then part of Killingly, is a New England mill town incorporated in 1855. Created from sections of Killingly, Pomfret, and Thompson, the town was named in honor of Revolutionary War General Israel Putnam. Putnam was a key contributor in providing clothing and other goods to the Civil War soldiers. There were numerous mills and a train ran through the town, providing transportation for the goods being produced. On August 19, 1955, Putnam was devastated by floods from torrential downpours caused by two hurricanes, which hit Connecticut within the span of a week. Hurricane Connie affected Connecticut on August 13, dropping between four and six inches (152 mm) of rain across the state. Hurricane Diane soaked the state with of rain on August 18–19. The result was flooding in many of the state's rivers, including the Quine ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Economist
An economist is a professional and practitioner in the social sciences, social science discipline of economics. The individual may also study, develop, and apply theories and concepts from economics and write about economic policy. Within this field there are many sub-fields, ranging from the broad philosophy, philosophical theory, theories to the focused study of minutiae within specific Market (economics), markets, macroeconomics, macroeconomic analysis, microeconomics, microeconomic analysis or financial statement analysis, involving analytical methods and tools such as econometrics, statistics, Computational economics, economics computational models, financial economics, mathematical finance and mathematical economics. Professions Economists work in many fields including academia, government and in the private sector, where they may also "study data and statistics in order to spot trends in economic activity, economic confidence levels, and consumer attitudes. They assess ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
University Of Connecticut
The University of Connecticut (UConn) is a public land-grant research university in Storrs, Connecticut, a village in the town of Mansfield. The primary 4,400-acre (17.8 km2) campus is in Storrs, approximately a half hour's drive from Hartford and 90 minutes from Boston. UConn was founded in 1881 as the Storrs Agricultural School, named after two brothers who donated the land for the school. In 1893, the school became a public land grant college, becoming the University of Connecticut in 1939. Over the following decade, social work, nursing and graduate programs were established, while the schools of law and pharmacy were also absorbed into the university. During the 1960s, UConn Health was established for new medical and dental schools. John Dempsey Hospital opened in Farmington in 1975. The university is classified among "R1: Doctoral Universities – Very high research activity". The university has been considered a Public Ivy. UConn is one of the founding institution ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Physics
Physics is the natural science that studies matter, its fundamental constituents, its motion and behavior through space and time, and the related entities of energy and force. "Physical science is that department of knowledge which relates to the order of nature, or, in other words, to the regular succession of events." Physics is one of the most fundamental scientific disciplines, with its main goal being to understand how the universe behaves. "Physics is one of the most fundamental of the sciences. Scientists of all disciplines use the ideas of physics, including chemists who study the structure of molecules, paleontologists who try to reconstruct how dinosaurs walked, and climatologists who study how human activities affect the atmosphere and oceans. Physics is also the foundation of all engineering and technology. No engineer could design a flat-screen TV, an interplanetary spacecraft, or even a better mousetrap without first understanding the basic laws of physic ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Williams College
Williams College is a Private college, private liberal arts colleges in the United States, liberal arts college in Williamstown, Massachusetts. It was established as a men's college in 1793 with funds from the estate of Ephraim Williams, a colonist from the Province of Massachusetts Bay who was killed in the French and Indian War in 1755. It is the second-oldest institution of higher education in the Commonwealth of Massachusetts after Harvard College. Although the bequest from the estate of Ephraim Williams intended to establish a "free school", the exact meaning of which is ambiguous, the college quickly outgrew its initial ambitions. It positioned itself as a "Western counterpart" to Yale and Harvard. It became officially coeducational in the 1960s. Williams's main campus is located in Williamstown, in the Berkshires in rural northwestern Massachusetts, and contains more than 100 academic, athletic, and residential buildings. There are 360 voting faculty members, with a stu ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Astronomy
Astronomy () is a natural science that studies astronomical object, celestial objects and phenomena. It uses mathematics, physics, and chemistry in order to explain their origin and chronology of the Universe, evolution. Objects of interest include planets, natural satellite, moons, stars, nebulae, galaxy, galaxies, and comets. Relevant phenomena include supernova explosions, gamma ray bursts, quasars, blazars, pulsars, and cosmic microwave background radiation. More generally, astronomy studies everything that originates beyond atmosphere of Earth, Earth's atmosphere. Cosmology is a branch of astronomy that studies the universe as a whole. Astronomy is one of the oldest natural sciences. The early civilizations in recorded history made methodical observations of the night sky. These include the Babylonian astronomy, Babylonians, Greek astronomy, Greeks, Indian astronomy, Indians, Egyptian astronomy, Egyptians, Chinese astronomy, Chinese, Maya civilization, Maya, and many anc ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Yale University
Yale University is a private research university in New Haven, Connecticut. Established in 1701 as the Collegiate School, it is the third-oldest institution of higher education in the United States and among the most prestigious in the world. It is a member of the Ivy League. Chartered by the Connecticut Colony, the Collegiate School was established in 1701 by clergy to educate Congregational ministers before moving to New Haven in 1716. Originally restricted to theology and sacred languages, the curriculum began to incorporate humanities and sciences by the time of the American Revolution. In the 19th century, the college expanded into graduate and professional instruction, awarding the first PhD in the United States in 1861 and organizing as a university in 1887. Yale's faculty and student populations grew after 1890 with rapid expansion of the physical campus and scientific research. Yale is organized into fourteen constituent schools: the original undergraduate col ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Stanford
Stanford University, officially Leland Stanford Junior University, is a private research university in Stanford, California. The campus occupies , among the largest in the United States, and enrolls over 17,000 students. Stanford is considered among the most prestigious universities in the world. Stanford was founded in 1885 by Leland and Jane Stanford in memory of their only child, Leland Stanford Jr., who had died of typhoid fever at age 15 the previous year. Leland Stanford was a U.S. senator and former governor of California who made his fortune as a railroad tycoon. The school admitted its first students on October 1, 1891, as a coeducational and non-denominational institution. Stanford University struggled financially after the death of Leland Stanford in 1893 and again after much of the campus was damaged by the 1906 San Francisco earthquake. Following World War II, provost of Stanford Frederick Terman inspired and supported faculty and graduates' entrepreneurialism ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Vanishing Hand
The Vanishing Hand theory is a concept first conceived of by economist Richard Normand Langlois. The term is an intentional play on both Adam Smith's invisible hand and Alfred Chandler's Visible Hand. Background In Smith's work, his invisible hand describes the self-regulating behavior of the market. In essence, this theory states that individual personal motivations lead to the most efficient allocation of resources and greatest overall benefit, even if those motivations were not in any way benevolent. This is exemplified by relatively small firms operating with no market control. Competition between buyers and sellers channels the profit motive causing competition to lead to socially desirable outcomes. During Smith's time and much after, this was a justification for a laissez-faire ''Laissez-faire'' ( ; from french: laissez faire , ) is an economic system in which transactions between private groups of people are free from any form of economic interventionism (su ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Cambridge University Press
Cambridge University Press is the university press of the University of Cambridge. Granted letters patent by Henry VIII of England, King Henry VIII in 1534, it is the oldest university press A university press is an academic publishing house specializing in monographs and scholarly journals. Most are nonprofit organizations and an integral component of a large research university. They publish work that has been reviewed by schola ... in the world. It is also the King's Printer. Cambridge University Press is a department of the University of Cambridge and is both an academic and educational publisher. It became part of Cambridge University Press & Assessment, following a merger with Cambridge Assessment in 2021. With a global sales presence, publishing hubs, and offices in more than 40 Country, countries, it publishes over 50,000 titles by authors from over 100 countries. Its publishing includes more than 380 academic journals, monographs, reference works, school and uni ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Peter Boettke
Peter Joseph Boettke (; born January 3, 1960) is an American economist of the Austrian School. He is currently a professor of economics and philosophy at George Mason University; the BB&T Professor for the Study of Capitalism, vice president for research, and director of the F.A. Hayek Program for Advanced Study in Philosophy, Politics, and Economics at the Mercatus Center at GMU. Early life and education Boettke was born and raised in Rahway, New Jersey, to Fred and Elinor Boettke. In high school and college, he played for the school basketball and tennis teams. He attended Thiel College in Greenville, Pennsylvania and later Grove City College in nearby Grove City, Pennsylvania. At Grove City, he became interested in economics when he took a course taught by Hans Sennholz, and there he developed his religious convictions. After completing a B.A. (1983) in economics at Grove City, Boettke attended George Mason University where he earned an M.A. (1987) and a Ph.D. (1989) in eco ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Austrian Economics
The Austrian School is a heterodox school of economic thought that advocates strict adherence to methodological individualism, the concept that social phenomena result exclusively from the motivations and actions of individuals. Austrian school theorists hold that economic theory should be exclusively derived from basic principles of human action.Ludwig von Mises. Human Action, p. 11, "Purposeful Action and Animal Reaction". Referenced 2011-11-23. The Austrian School originated in late-19th- and early-20th-century Vienna with the work of Carl Menger, Eugen von Böhm-Bawerk, Friedrich von Wieser, and others. It was methodologically opposed to the Historical School (based in Germany), in a dispute known as ''Methodenstreit'', or methodology struggle. Current-day economists working in this tradition are located in many different countries, but their work is still referred to as Austrian economics. Among the theoretical contributions of the early years of the Austrian School are the ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
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