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Econodynamics
Econodynamics is an empirical science that studies emergences, motion and disappearance of value—a specific concept that is used for description of the processes of creation and distribution of wealth. Any economic theory deals with the interpretation of economic processes based on the law of production of value, and various scientific approaches differ in the choice of factors of production that determine, in the end, the creation of wealth. Marxists insist that only labor creates value, neoclassicists believe that, in addition to labor, capital must also be taken into account as the important source of value. Econodynamics demonstrates that the statement about the productive power of capital is a hoax that hides the real role of labor and energy in the production of value. Econodynamics offers a more adequate interpretation of economic growth and other phenomena.Econodynamics is based on the achievements of classical political economy and neo-classical economics and has been ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Vladimir Pokrovskii
Vladimir Nikolajevich Pokrovskii (russian: Влад’имир Никол’аевич Покр’овский; born 11 May 1934) is a Russian scientist known for his original contributions to polymer physics and economic theory. He was the founder of the Altai (Russia, Barnaul) school of dynamics of nonlinear fluids (Yurii Altukhov, Grigorii Pyshnograi and others). Biography Pokrovskii was born May 11, 1934 into a Russian family in the rural locality Altayskoye, Altaysky District, Altai Krai (Russian: Алтайское, Алтайского края), Russia. He graduated from Tomsk State University in Siberia as a physicist (Department of Theoretical Physics) in 1958 and in the same year was employed as a teacher of physics at Tomsk Polytechnic University. In 1964 he moved to the Branch of Institute of Chemical Physics of the Academy of Sciences of the USSR (Chernogolovka, Moscow region) where in positions of Senior Research Fellow was engaged in studying of suspensi ... [...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] |
Empirical Science
In philosophy, empiricism is an epistemological theory that holds that knowledge or justification comes only or primarily from sensory experience. It is one of several views within epistemology, along with rationalism and skepticism. Empiricism emphasizes the central role of empirical evidence in the formation of ideas, rather than innate ideas or traditions. However, empiricists may argue that traditions (or customs) arise due to relations of previous sensory experiences. Historically, empiricism was associated with the "blank slate" concept (''tabula rasa''), according to which the human mind is "blank" at birth and develops its thoughts only through experience. Empiricism in the philosophy of science emphasizes evidence, especially as discovered in experiments. It is a fundamental part of the scientific method that all hypotheses and theories must be tested against observations of the natural world rather than resting solely on ''a priori'' reasoning, intuition, or reve ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Utility Function
As a topic of economics, utility is used to model worth or value. Its usage has evolved significantly over time. The term was introduced initially as a measure of pleasure or happiness as part of the theory of utilitarianism by moral philosophers such as Jeremy Bentham and John Stuart Mill. The term has been adapted and reapplied within neoclassical economics, which dominates modern economic theory, as a utility function that represents a single consumer's preference ordering over a choice set but is not comparable across consumers. This concept of utility is personal and based on choice rather than on pleasure received, and so is specified more rigorously than the original concept but makes it less useful (and controversial) for ethical decisions. Utility function Consider a set of alternatives among which a person can make a preference ordering. The utility obtained from these alternatives is an unknown function of the utilities obtained from each alternative, not the sum of ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Labor
Labour or labor may refer to: * Childbirth, the delivery of a baby * Labour (human activity), or work ** Manual labour, physical work ** Wage labour, a socioeconomic relationship between a worker and an employer ** Organized labour and the labour movement, consisting principally of labour unions ** The Labour Party (UK) Literature * ''Labor'' (journal), an American quarterly on the history of the labor movement * ''Labour/Le Travail'', an academic journal focusing on the Canadian labour movement * ''Labor'' (Tolstoy book) or ''The Triumph of the Farmer or Industry and Parasitism'' (1888) Places * La Labor, Honduras * Labor, Koper, Slovenia Other uses * ''Labor'' (album), a 2013 album by MEN * Labor (area), a Spanish customary unit * "Labor", an episode of TV series '' Superstore'' * Labour (constituency), a functional constituency in Hong Kong elections * Labors, fictional robots in ''Patlabor'' People with the surname * Earle Labor (born 1928), professor of American litera ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Self-organization
Self-organization, also called spontaneous order in the social sciences, is a process where some form of overall order arises from local interactions between parts of an initially disordered system. The process can be spontaneous when sufficient energy is available, not needing control by any external agent. It is often triggered by seemingly random fluctuations, amplified by positive feedback. The resulting organization is wholly decentralized, distributed over all the components of the system. As such, the organization is typically robust and able to survive or self-repair substantial perturbation. Chaos theory discusses self-organization in terms of islands of predictability in a sea of chaotic unpredictability. Self-organization occurs in many physical, chemical, biological, robotic, and cognitive systems. Examples of self-organization include crystallization, thermal convection of fluids, chemical oscillation, animal swarming, neural circuits, and black markets. ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
World Population
In demographics, the world population is the total number of humans currently living. It was estimated by the United Nations to have exceeded 8 billion in November 2022. It took over 200,000 years of human prehistory and history for the human population to reach one billion and only 219 years more to reach 8 billion. The human population experienced continuous growth following the Great Famine of 1315–1317 and the end of the Black Death in 1350, when it was nearly 370,000,000. The highest global population growth rates, with increases of over 1.8% per year, occurred between 1955 and 1975, peaking at 2.1% between 1965 and 1970. The growth rate declined to 1.1% between 2015 and 2020 and is projected to decline further in the 21st century. The global population is still increasing, but there is significant uncertainty about its long-term trajectory due to changing fertility and mortality rates. The UN Department of Economics and Social Affairs projects between 9 ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Gross World Product
The gross world product (GWP) is the combined gross national income of all the countries in the world. Because imports and exports balance exactly when considering the whole world, this also equals the total global gross domestic product (GDP).See measures of national income and output for more details. According to the World Bank, the 2013 nominal GWP was approximately 75.59 trillion United States dollars. In 2017, according to the CIA's ''World Factbook'', the GWP was around $80.27 trillion in nominal terms and totaled approximately 127.8 trillion international dollars in terms of purchasing power parity (PPP). The per capita PPP GWP in 2017 was approximately 17,500 international dollars according to the ''World Factbook''. According to the World Bank, the 2020 GWP in current dollars was approximately $84.705 trillion. Recent growth The table below gives recent percentage values for overall GWP growth from 2006 through 2020, as well as an estimate for 2021, a ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Angus Maddison
Angus Maddison (6 December 1926 – 24 April 2010) was a distinguished British economist specialising in quantitative macro economic history, including the measurement and analysis of economic growth and development. Maddison lectured at several universities over the course of his career, including the University of St. Andrews in Scotland and Harvard University. In 1978, Maddison was appointed Historical Professor in the Faculty of Economics at the University of Groningen (RUG). He retired in 1996 and became Emeritus Professor. Maddison is particularly known for documenting economic performance over long periods of time and across major countries in every continent of the world. Early life and OEEC/OECD Born in Newcastle-on-Tyne, England, Maddison was educated at Darlington Grammar School and subsequently attended Selwyn College, Cambridge, as an undergraduate. After attending McGill University and Johns Hopkins University as a graduate student, he decided not to pursue a P ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Input-output Model
In computing, input/output (I/O, or informally io or IO) is the communication between an information processing system, such as a computer, and the outside world, possibly a human or another information processing system. Inputs are the signals or data received by the system and outputs are the signals or data sent from it. The term can also be used as part of an action; to "perform I/O" is to perform an input or output operation. are the pieces of hardware used by a human (or other system) to communicate with a computer. For instance, a keyboard or computer mouse is an input device for a computer, while monitors and printers are output devices. Devices for communication between computers, such as modems and network cards, typically perform both input and output operations. Any interaction with the system by a interactor is an input and the reaction the system responds is called the output. The designation of a device as either input or output depends on perspective. Mice an ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Wassily Leontief
Wassily Wassilyevich Leontief (russian: Васи́лий Васи́льевич Лео́нтьев; August 5, 1905 – February 5, 1999), was a Soviet-American economist known for his research on input–output analysis and how changes in one economic sector may affect other sectors. Leontief won the Nobel Memorial Prize in Economic Sciences in 1973, and four of his doctoral students have also been awarded the prize (Paul Samuelson 1970, Robert Solow 1987, Vernon L. Smith 2002, Thomas Schelling 2005). Biography Early life Wassily Leontief was born on August 5, 1905, in Munich, Germany, the son of Wassily W. Leontief (professor of Economics) and Zlata (German spelling ''Slata''; later Evgenia) Leontief (née Becker). Wassily Leontief Sr. belonged to a family of Russian old-believer merchants living in St. Petersburg since 1741. Evgenia (Genya) Becker belonged to a wealthy Jewish family from Odessa. At 15 in 1921, Wassily Jr. entered University of Leningrad in present-day St. P ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Technological Theory Of Social Production
In the technological theory of social production, the growth of output, measured in money units, is related to achievements in technological consumption of labour and energy. This theory is based on concepts of classical political economy and neo-classical economics and appears to be a generalisation of the known economic models, such as the neo-classical model of economic growth and input-output model. The main relations of the theory The major characteristics of social production is its output Y, that is production of value in unit of time, the original sources of which are production factors, which are some universal characteristics of production processes. In classical political economy (Smith, Marx, Ricardo), it is human efforts (labour) L, which are measured in working hours. Neoclassical practice G.W. Cobb and P.N. Douglas, A Theory of Production, American Economic Review, Suppl. (March 1928), pp. 139-165.R. Solow, Technical Change and the Aggregate Production Funct ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
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