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Wisconsin School
The Wisconsin school in economics was based at the University of Wisconsin–Madison, and played a significant role in American economics in the first half of the 20th century. The Wisconsin school was central to institutionalism in the United States, and also played a prominent role in labor economics and in the development of the policy ideas associated with the New Deal. The central figures in the Wisconsin school were Richard T. Ely and his student John R. Commons. Notable students of Commons included Edwin E. Witte, largely responsible for the drafting of the Social Security Act, Selig Perlman, Kenneth Parsons, and Harold Groves. Other notable economists associated with the Wisconsin school include Walter Heller, Robert J. Lampman, Warren Samuels, and Theodore Schultz. Further reading * References See also * Wisconsin idea The Wisconsin Idea is a public philosophy that has influenced policy and ideals in the U.S. state of Wisconsin's education system a ... [...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] |
