Richard A. Radford
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Richard A. Radford
Richard A. Radford (1919 – 7 November 2006) was a British-born American economist who served in the International Monetary Fund and became widely known for his 1945 article on prisoner-of-war camp economics.Obituary
'' Washington Post'', 14 November 2006


Early life

Radford was born in 1919 in Nottingham, England. He studied economics at the University of Cambridge. When
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Nottingham
Nottingham ( , East Midlands English, locally ) is a city status in the United Kingdom, city and Unitary authorities of England, unitary authority area in Nottinghamshire, East Midlands, England. It is located north-west of London, south-east of Sheffield and north-east of Birmingham. Nottingham has links to the legend of Robin Hood and to the lace-making, bicycle and Tobacco industry, tobacco industries. The city is also the county town of Nottinghamshire and the settlement was granted its city charter in 1897, as part of Queen Victoria's Diamond Jubilee celebrations. Nottingham is a tourist destination; in 2018, the city received the second-highest number of overnight visitors in the Midlands and the highest number in the East Midlands. In 2020, Nottingham had an estimated population of 330,000. The wider conurbation, which includes many of the city's suburbs, has a population of 768,638. It is the largest urban area in the East Midlands and the second-largest in the Midland ...
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Stalag VII-A
Stalag VII-A (in full: ''Kriegsgefangenen-Mannschafts-Stammlager VII-A'') was the largest prisoner-of-war camp in Nazi Germany during World War II, located just north of the town of Moosburg in southern Bavaria. The camp covered an area of . It served also as a transit camp through which prisoners, including officers, were processed on their way to other camps. At some time during the war, prisoners from every nation fighting against Germany passed through it. At the time of its liberation on 29 April 1945, there were 76,248 prisoners in the main camp and 40,000 or more in ''Arbeitskommando'' working in factories, repairing railroads or on farms. Camp history The camp was opened in September 1939 and was designed to house up to 10,000 Polish prisoners from the German September 1939 offensive. The first prisoners arrived while the wooden barracks were under construction and for several weeks lived in tents. British, French, Belgian and Dutch soldiers taken prisoner during the Ba ...
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Exchange Economy
Exchange economy is technical term used in microeconomics research to describe interaction between several agents. In the market, the agent is the subject of exchange and the good is the object of exchange. Each agent brings his/her own endowment, and they can exchange products among them based on a price system. Two types of exchange economy are studied: * In a pure exchange economy, all agents are consumers; there is no production and all agents can do is exchange their initial endowments. In daily research, to avoid research difficulties caused by a large number of consumers and goods, the simple trading conditions of two consumers and two goods are usually assumed. * In contrast, in an exchange economy with production, some or all agents are firms that may also produce new goods. A major interesting question regarding an exchange economy is if and when the economy attains a competitive equilibrium. Exchange and distribution efficiency are concerned. Pure exchange economy * A ...
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Léon Walras
Marie-Esprit-Léon Walras (; 16 December 1834 – 5 January 1910) was a French mathematical economist and Georgist. He formulated the marginal theory of value (independently of William Stanley Jevons and Carl Menger) and pioneered the development of general equilibrium theory. Walras is best known for his book ''Éléments d'économie politique pure'', a work that has contributed greatly to the mathematization of economics through the concept of general equilibrium. The definition of the role of the entrepreneur found in it was also taken up and amplified by Joseph Schumpeter. For Walras, exchanges only take place after a Walrasian '' tâtonnement'' (French for "trial and error"), guided by the auctioneer, has made it possible to reach market equilibrium. It was the general equilibrium obtained from a single hypothesis, rarity, that led Joseph Schumpeter to consider him "the greatest of all economists". The notion of general equilibrium was very quickly adopted by major economi ...
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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 ...
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Robert P
The name Robert is an ancient Germanic given name, from Proto-Germanic "fame" and "bright" (''Hrōþiberhtaz''). Compare Old Dutch ''Robrecht'' and Old High German ''Hrodebert'' (a compound of ''Hrōþ, Hruod'' ( non, Hróðr) "fame, glory, honour, praise, renown" and ''berht'' "bright, light, shining"). It is the second most frequently used given name of ancient Germanic origin. It is also in use Robert (surname), as a surname. Another commonly used form of the name is Rupert (name), Rupert. After becoming widely used in Continental Europe it entered England in its Old French form ''Robert'', where an Old English cognate form (''Hrēodbēorht'', ''Hrodberht'', ''Hrēodbēorð'', ''Hrœdbœrð'', ''Hrœdberð'', ''Hrōðberχtŕ'') had existed before the Norman Conquest. The feminine version is Roberta (given name), Roberta. The Italian, Portuguese, and Spanish form is Roberto (given name), Roberto. Robert is also a common name in many Germanic languages, including English ...
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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 ...
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University Of California, Irvine
The University of California, Irvine (UCI or UC Irvine) is a public land-grant research university in Irvine, California. One of the ten campuses of the University of California system, UCI offers 87 undergraduate degrees and 129 graduate and professional degrees, and roughly 30,000 undergraduates and 6,000 graduate students are enrolled at UCI as of Fall 2019. The university is classified among " R1: Doctoral Universities – Very high research activity", and had $436.6 million in research and development expenditures in 2018. UCI became a member of the Association of American Universities in 1996. The university was rated as one of the "Public Ivies” in 1985 and 2001 surveys comparing publicly funded universities the authors claimed provide an education comparable to the Ivy League. The university also administers the UC Irvine Medical Center, a large teaching hospital in Orange, and its affiliated health sciences system; the University of California, Irvine, Arboretum; and ...
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Jack Hirshleifer
Jack Hirshleifer (August 26, 1925 – July 26, 2005) was an American economist and long-time professor at the University of California, Los Angeles. He received a B.S. from Harvard University in 1945 and a Ph.D. in 1950. He worked at the RAND Corporation in Santa Monica from 1949 to 1955. He then taught at the University of Chicago from 1955 to 1960, and at UCLA until 2001. Hirshleifer was well known for his work on uncertainty and information in economics, the economic analysis of conflict, and bioeconomics. His undergraduate textbook, ''Price Theory and Applications'', went into seven editions. A 1958 article by Hirshleifer began the triumphant comeback of Irving Fisher Irving Fisher (February 27, 1867 – April 29, 1947) was an American economist, statistician, inventor, eugenicist and progressive social campaigner. He was one of the earliest American neoclassical economists, though his later work on debt def ...'s theory of capital and interest, now deemed ca ...
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Reseller
A reseller is a company or individual (merchant) that purchases goods or services with the intention of selling them rather than consuming or using them. This is usually done for profit (but can be done at a loss). One example can be found in the industry of telecommunications, where companies buy excess amounts of transmission capacity or call time from other carriers and resell it to smaller carriers. According to the Institute for Partner Education & Development, a reseller's product fulfillment–based business model includes a corporate reseller, retail seller, direct market reseller (DMR), and an internet retailer (eTailer); less than 10 percent of its revenue comes from services. Internet Resellers are known to conduct operations on the Internet through sites on the web. For example, this occurs where individuals or companies act as agents for ICANN accredited registrars. They either sell on commission or for profit and in most cases, but not all, the purchase from the reg ...
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Glenn Hubbard (economist)
Robert Glenn Hubbard (born September 4, 1958) is an American economist and academic. He served as the Dean of the Columbia University Graduate School of Business from 2004 to 2019, where he remains the Russell L. Carson Professor of Finance and Economics. On September 13, 2018, he announced that he would retire from his position after his contract expired on June 30, 2019. Hubbard previously served as Deputy Assistant Secretary at the U.S. Department of the Treasury from 1991 to 1993, and as Chairman of the Council of Economic Advisers from 2001 to 2003. Hubbard is a visiting scholar at the conservative American Enterprise Institute, where he studies tax policy and health care. He was criticized for his reports and papers on deregulation during the 2008 banking crisis. He was also heavily criticized in the documentary ''Inside Job'' about the credit default swap scams that led to the world financial collapse in 2008. He is seen being aggressive towards the reporter when being as ...
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The National Post
The ''National Post'' is a Canadian English-language broadsheet newspaper available in several cities in central and western Canada. The paper is the flagship publication of Postmedia Network and is published Mondays through Saturdays, with Monday released as a digital e-edition only.National Post to eliminate Monday print edition
, June 19, 2017. Retrieved June 28, 2017
The newspaper is distributed in the provinces of ,