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Rostow's Stages Of Growth
Rostow's stages of economic growth model is one of the major historical models of economic growth. It was published by American economist Walt Whitman Rostow in 1960. The model postulates that economic growth occurs in five basic stages, of varying length: # The traditional society # The preconditions for take-off # The take-off # The drive to maturity # The age of high mass-consumption Rostow's model is one of the more structuralist models of economic growth, particularly in comparison with the " backwardness" model developed by Alexander Gerschenkron, although the two models are not mutually exclusive. Rostow argued that economic take-off must initially be led by a few individual economic sectors. This belief echoes David Ricardo's comparative advantage thesis and criticizes Marxist revolutionaries' push for economic self-reliance in that it pushes for the "initial" development of only one or two sectors over the development of all sectors equally. This became one of the i ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Economic Growth
Economic growth can be defined as the increase or improvement in the inflation-adjusted market value of the goods and services produced by an economy in a financial year. Statisticians conventionally measure such growth as the percent rate of increase in the real gross domestic product, or real GDP. Growth is usually calculated in real terms – i.e., inflation-adjusted terms – to eliminate the distorting effect of inflation on the prices of goods produced. Measurement of economic growth uses national income accounting. Since economic growth is measured as the annual percent change of gross domestic product (GDP), it has all the advantages and drawbacks of that measure. The economic growth-rates of countries are commonly compared using the ratio of the GDP to population (per-capita income). The "rate of economic growth" refers to the geometric annual rate of growth in GDP between the first and the last year over a period of time. This growth rate represents the trend ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Adam Smith
Adam Smith (baptized 1723 – 17 July 1790) was a Scottish economist and philosopher who was a pioneer in the thinking of political economy and key figure during the Scottish Enlightenment. Seen by some as "The Father of Economics"——— or "The Father of Capitalism",———— he wrote two classic works, ''The Theory of Moral Sentiments'' (1759) and '' An Inquiry into the Nature and Causes of the Wealth of Nations'' (1776). The latter, often abbreviated as ''The Wealth of Nations'', is considered his ''magnum opus'' and the first modern work that treats economics as a comprehensive system and as an academic discipline. Smith refuses to explain the distribution of wealth and power in terms of God’s will and instead appeals to natural, political, social, economic and technological factors and the interactions between them. Among other economic theories, the work introduced Smith's idea of absolute advantage. Smith studied social philosophy at the University of Glasgo ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Music
Music is generally defined as the art of arranging sound to create some combination of form, harmony, melody, rhythm or otherwise expressive content. Exact definitions of music vary considerably around the world, though it is an aspect of all human societies, a cultural universal. While scholars agree that music is defined by a few specific elements, there is no consensus on their precise definitions. The creation of music is commonly divided into musical composition, musical improvisation, and musical performance, though the topic itself extends into academic disciplines, criticism, philosophy, and psychology. Music may be performed or improvised using a vast range of instruments, including the human voice. In some musical contexts, a performance or composition may be to some extent improvised. For instance, in Hindustani classical music, the performer plays spontaneously while following a partially defined structure and using characteristic motifs. In modal ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Arts
The arts are a very wide range of human practices of creative expression, storytelling and cultural participation. They encompass multiple diverse and plural modes of thinking, doing and being, in an extremely broad range of media. Both highly dynamic and a characteristically constant feature of human life, they have developed into innovative, stylized and sometimes intricate forms. This is often achieved through sustained and deliberate study, training and/or theorizing within a particular tradition, across generations and even between civilizations. The arts are a vehicle through which human beings cultivate distinct social, cultural and individual identities, while transmitting values, impressions, judgments, ideas, visions, spiritual meanings, patterns of life and experiences across time and space. Prominent examples of the arts include: * visual arts (including architecture, ceramics, drawing, filmmaking, painting, photography, and sculpting), * literary arts ( ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Buddenbrooks
''Buddenbrooks'' () is a 1901 novel by Thomas Mann, chronicling the decline of a wealthy north German merchant family over the course of four generations, incidentally portraying the manner of life and mores of the Hanseatic bourgeoisie in the years from 1835 to 1877. Mann drew deeply from the history of his own family, the Mann family of Lübeck, and their milieu. It was Mann's first novel, published when he was twenty-six years old. With the publication of the second edition in 1903, ''Buddenbrooks'' became a major literary success. Its English translation by Helen Tracy Lowe-Porter was published in 1924. The work led to a Nobel Prize in Literature for Mann in 1929; although the Nobel award generally recognises an author's body of work, the Swedish Academy's citation for Mann identified "his great novel ''Buddenbrooks''" as the principal reason for his prize. Mann began writing the book in October 1897, when he was twenty-two years old. The novel was completed three year ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Thomas Mann
Paul Thomas Mann ( , ; ; 6 June 1875 – 12 August 1955) was a German novelist, short story writer, social critic, philanthropist, essayist, and the 1929 Nobel Prize in Literature laureate. His highly symbolic and ironic epic novels and novellas are noted for their insight into the psychology of the artist and the intellectual. His analysis and critique of the European and German soul used modernized versions of German and Biblical stories, as well as the ideas of Johann Wolfgang von Goethe, Friedrich Nietzsche, and Arthur Schopenhauer. Mann was a member of the Hanseatic Mann family and portrayed his family and class in his first novel, '' Buddenbrooks''. His older brother was the radical writer Heinrich Mann and three of Mann's six children – Erika Mann, Klaus Mann and Golo Mann – also became significant German writers. When Adolf Hitler came to power in 1933, Mann fled to Switzerland. When World War II broke out in 1939, he moved to the United States, then returned ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Durable Good
In economics, a durable good or a hard good or consumer durable is a good that does not quickly wear out or, more specifically, one that yields utility over time rather than being completely consumed in one use. Items like bricks could be considered perfectly durable goods because they should theoretically never wear out. Highly durable goods such as refrigerators or cars usually continue to be useful for several years of use, so durable goods are typically characterized by long periods between successive purchases. Durable goods are known to form an imperative part of economic production. This can be exemplified from the fact that personal expenditures on durables exceeded the total value of $800 billion in 2000. In the year 2000 itself, durable goods production composed of approximately 60 percent of aggregate production within the manufacturing sector in the United States. Examples of consumer durable goods include bicycles, books, household goods (home appliances, consume ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Table For Drive To Maturity
Table may refer to: * Table (furniture), a piece of furniture with a flat surface and one or more legs * Table (landform), a flat area of land * Table (information), a data arrangement with rows and columns * Table (database), how the table data arrangement is used within databases * Calligra Tables, a spreadsheet application * Mathematical table * Table (parliamentary procedure) * Tables (board game) * Table, surface of the sound board (music) of a string instrument * '' Al-Ma'ida'', the fifth ''surah'' of the Qur'an, usually translated as “The Table” * Water table See also * Spreadsheet, a computer application * Table cut, a type of diamond cut * The Table (other) * Table Mountain (other) * Table Rock (other) * Tabler (other) * Tablet (other) Tablet may refer to: Medicine * Tablet (pharmacy), a mixture of pharmacological substances pressed into a small cake or bar, colloquially called a "pill" Computing * Tablet compu ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Table For Take-off
Table may refer to: * Table (furniture), a piece of furniture with a flat surface and one or more legs * Table (landform), a flat area of land * Table (information), a data arrangement with rows and columns * Table (database), how the table data arrangement is used within databases * Calligra Tables, a spreadsheet application * Mathematical table * Table (parliamentary procedure) * Tables (board game) * Table, surface of the sound board (music) of a string instrument * '' Al-Ma'ida'', the fifth ''surah'' of the Qur'an, usually translated as “The Table” * Water table See also * Spreadsheet, a computer application * Table cut, a type of diamond cut * The Table (other) * Table Mountain (other) * Table Rock (other) * Tabler (other) * Tablet (other) Tablet may refer to: Medicine * Tablet (pharmacy), a mixture of pharmacological substances pressed into a small cake or bar, colloquially called a "pill" Computing * Tablet compu ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
List Of Recognized Economic Sectors
One classical breakdown of economic activity distinguishes three sectors: * Primary: involves the retrieval and production of raw-material commodities, such as corn, coal, wood or iron. Miners, farmers and fishermen are all workers in the primary sector. * Secondary: involves the transformation of raw or intermediate materials into goods, as in steel into cars, or textiles into clothing. Builders and dressmakers work in the secondary sector. * Tertiary: involves the supplying of services to consumers and businesses, such as babysitting, cinemas or banking. Shopkeepers and accountants work in the tertiary sector. In the 20th century, economists began to suggest that traditional tertiary services could be further distinguished from "quaternary" and quinary service sectors. Economic activity in the hypothetical quaternary sector comprises information- and knowledge-based services, while quinary services include industries related to human services and hospitality. Economic th ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
National Income
A variety of measures of national income and output are used in economics to estimate total economic activity in a country or region, including gross domestic product (GDP), gross national product (GNP), net national income (NNI), and adjusted national income (NNI adjusted for natural resource depletion – also called as NNI at factor cost). All are specially concerned with counting the total amount of goods and services produced within the economy and by various sectors. The boundary is usually defined by geography or citizenship, and it is also defined as the total income of the nation and also restrict the goods and services that are counted. For instance, some measures count only goods & services that are exchanged for money, excluding bartered goods, while other measures may attempt to include bartered goods by ''imputing'' monetary values to them. National accounts Arriving at a figure for the total production of goods and services in a large region like a country entails ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Conspicuous Consumption
In sociology and in economics, the term conspicuous consumption describes and explains the consumer practice of buying and using goods of a higher quality, price, or in greater quantity than practical. In 1899, the sociologist Thorstein Veblen coined the term ''conspicuous consumption'' to explain the spending of money on and the acquiring of luxury commodities (goods and services) specifically as a public display of economic power—the income and the accumulated wealth—of the buyer. To the conspicuous consumer, the public display of discretionary income is an economic means of either attaining or of maintaining a given social status. The development of Veblen's sociology of conspicuous consumption also identified and described other economic behaviours such as invidious consumption, which is the ostentatious consumption of goods, an action meant to provoke the envy of other people; and conspicuous compassion, the ostentatious use of charity meant to enhance the reputati ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
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