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Long Waves
In economics, Kondratiev waves (also called supercycles, great surges, long waves, K-waves or the long economic cycle) are hypothesized cycle-like phenomena in the modern world economy. The phenomenon is closely connected with the technology life cycle. It is stated that the period of a wave ranges from forty to sixty years, the cycles consist of alternating intervals of high sectoral growth and intervals of relatively slow growth.See, e.g. Long wave theory is not accepted by most academic economists. Among economists who accept it, there is a lack of agreement about both the cause of the waves and the start and end years of particular waves. Among critics of the theory, the consensus is that it involves recognizing patterns that may not exist (apophenia). History of concept The Soviet economist Nikolai Kondratiev (also written Kondratieff or Kondratyev) was the first to bring these observations to international attention in his book ''The Major Economic Cycles'' (1925) a ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Kondratieff Wave
Kondratiev, Kondratyev or Kondratieff (russian: Кондратьев) is a Slavic surname (feminine form: Kondratieva or Kondratyeva, russian: Кондратьева). People of this name include: * Adelina Kondrátieva (1917–2012), Argentine-born Russian translator and Brigadista * Alexei Kondratiev (1949–2010), American scholar specializing in Celtic languages and cultures * Dmitri Kondratyev (born 1969), cosmonaut * Georgi Kondratiev (born 1960), footballer * Georgy Mihailovich Kondratiev (1887–1958), Russian physicist * Ivan Kondratyev (1849–1904), Russian poet and writer * Kirill Kondratyev (1920–2006), Russian atmospheric physicist * Lyudmila Kondratyeva (born 1958), Russian sprinter and 1980 Olympic champion * Maria Kondratieva (born 1982), Russian tennis player * Maxim Kondratyev (born 1983), Russian ice-hockey player * Nataliya Kondratyeva (born 1986), Russian judoka * Nikolai Kondratiev (1892–1938), Russian economist who researched Kondratiev waves * Oksana K ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Alfred Marshall
Alfred Marshall (26 July 1842 – 13 July 1924) was an English economist, and was one of the most influential economists of his time. His book '' Principles of Economics'' (1890) was the dominant economic textbook in England for many years. It brought the ideas of supply and demand, marginal utility, and costs of production into a coherent whole. He is known as one of the founders of neoclassical economics. Life and career Marshall was born at Bermondsey in London, second son of William Marshall (1812–1901), clerk and cashier at the Bank of England, and Rebecca (1817–1878), daughter of butcher Thomas Oliver, from whom, on her mother's death, she inherited property. William Marshall was a devout strict Evangelical, "author of an Evangelical epic in a sort of Anglo-Saxon language of his own invention which found some favour in its appropriate circles" and of a tract titled ''Men's Rights and Women's Duties''. Marshall had two brothers and two sisters; a cousin was the econ ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Treaty Of Versailles
The Treaty of Versailles (french: Traité de Versailles; german: Versailler Vertrag, ) was the most important of the peace treaties of World War I. It ended the state of war between Germany and the Allied Powers. It was signed on 28 June 1919 in the Palace of Versailles, exactly five years after the assassination of Archduke Franz Ferdinand, which led to the war. The other Central Powers on the German side signed separate treaties. Although the armistice of 11 November 1918 ended the actual fighting, it took six months of Allied negotiations at the Paris Peace Conference to conclude the peace treaty. The treaty was registered by the Secretariat of the League of Nations on 21 October 1919. Of the many provisions in the treaty, one of the most important and controversial was: "The Allied and Associated Governments affirm and Germany accepts the responsibility of Germany and her allies for causing all the loss and damage to which the Allied and Associated Governments and the ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
California Gold Rush
The California Gold Rush (1848–1855) was a gold rush that began on January 24, 1848, when gold was found by James W. Marshall at Sutter's Mill in Coloma, California. The news of gold brought approximately 300,000 people to California from the rest of the United States and abroad. The sudden influx of gold into the money supply reinvigorated the American economy; the sudden population increase allowed California to go rapidly to statehood, in the Compromise of 1850. The Gold Rush had severe effects on Native Californians and accelerated the Native American population's decline from disease, starvation and the California genocide. The effects of the Gold Rush were substantial. Whole indigenous societies were attacked and pushed off their lands by the gold-seekers, called "forty-niners" (referring to 1849, the peak year for Gold Rush immigration). Outside of California, the first to arrive were from Oregon, the Sandwich Islands (Hawaii) and Latin America in late 1848. Of th ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Mayflower Compact
The Mayflower Compact, originally titled Agreement Between the Settlers of New Plymouth, was the first governing document of Plymouth Colony. It was written by the men aboard the ''Mayflower,'' consisting of separatist Puritans, adventurers, and tradesmen. The Puritans were fleeing from religious persecution by King James I of England. The Mayflower Compact was signed aboard ship on , 1620. Signing the covenant were 41 of the ship's 101 passengers; the ''Mayflower'' was anchored in Provincetown Harbor within the hook at the northern tip of Cape Cod. Reasons for the Compact The Pilgrims had originally hoped to reach America in early October using two ships, but delays and complications meant they could use only one, the ''Mayflower''. Their intended destination had been the Colony of Virginia, with the journey financed by the Company of Merchant Adventurers of London. Storms forced them to anchor at the hook of Cape Cod in Massachusetts, however, as it was unwise to continue w ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Eudaimonia
Eudaimonia (Greek: εὐδαιμονία ; sometimes anglicized as eudaemonia or eudemonia, ) is a Greek word literally translating to the state or condition of 'good spirit', and which is commonly translated as 'happiness' or 'welfare'. In works of Aristotle, ''eudaimonia'' was the term for the highest human good in older Greek tradition. It is the aim of practical philosophy-prudence, including ethics and political philosophy, to consider and experience what this state really is, and how it can be achieved. It is thus a central concept in Aristotelian ethics and subsequent Hellenistic philosophy, along with the terms ''aretē'' (most often translated as 'virtue' or 'excellence') and ''phronesis'' ('practical or ethical wisdom'). Discussion of the links between ''ēthikē aretē'' (virtue of character) and ''eudaimonia'' (happiness) is one of the central concerns of ancient ethics, and a subject of much disagreement. As a result, there are many varieties of eudaimonism. Defi ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Interest Rate
An interest rate is the amount of interest due per period, as a proportion of the amount lent, deposited, or borrowed (called the principal sum). The total interest on an amount lent or borrowed depends on the principal sum, the interest rate, the compounding frequency, and the length of time over which it is lent, deposited, or borrowed. The annual interest rate is the rate over a period of one year. Other interest rates apply over different periods, such as a month or a day, but they are usually annualized. The interest rate has been characterized as "an index of the preference . . . for a dollar of present ncomeover a dollar of future income." The borrower wants, or needs, to have money sooner rather than later, and is willing to pay a fee—the interest rate—for that privilege. Influencing factors Interest rates vary according to: * the government's directives to the central bank to accomplish the government's goals * the currency of the principal sum lent or borrowed * ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Price
A price is the (usually not negative) quantity of payment or compensation given by one party to another in return for goods or services. In some situations, the price of production has a different name. If the product is a "good" in the commercial exchange, the payment for this product will likely be called its "price". However, if the product is "service", there will be other possible names for this product's name. For example, the graph on the bottom will show some situations A good's price is influenced by production costs, supply of the desired item, and demand for the product. A price may be determined by a monopolist or may be imposed on the firm by market conditions. Price can be quoted to currency, quantities of goods or vouchers. * In modern economies, prices are generally expressed in units of some form of currency. (More specifically, for raw materials they are expressed as currency per unit weight, e.g. euros per kilogram or Rands per KG.) * Although prices ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Economic Collapse
Economic collapse, also called economic meltdown, is any of a broad range of bad economic conditions, ranging from a severe, prolonged depression with high bankruptcy rates and high unemployment (such as the Great Depression of the 1930s), to a breakdown in normal commerce caused by hyperinflation (such as in Weimar Germany in the 1920s), or even an economically caused sharp rise in the death rate and perhaps even a decline in population (such as in countries of the former USSR in the 1990s). Often economic collapse is accompanied by social chaos, civil unrest and a breakdown of law and order. Cases There are few well documented cases of economic collapse. One of the best documented cases of collapse or near collapse is the Great Depression, the causes of which are still being debated. "To understand the Great Depression is the Holy Grail of macroeconomics." — Ben Bernanke (1995) Bernanke's comment addresses the difficulty of identifying specific causes when many factors ma ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Recession
In economics, a recession is a business cycle contraction when there is a general decline in economic activity. Recessions generally occur when there is a widespread drop in spending (an adverse demand shock). This may be triggered by various events, such as a financial crisis, an external trade shock, an adverse supply shock, the bursting of an economic bubble, or a large-scale Anthropogenic hazard, anthropogenic or natural disaster (e.g. a pandemic). In the United States, a recession is defined as "a significant decline in economic activity spread across the market, lasting more than a few months, normally visible in real GDP, real income, employment, industrial production, and wholesale-retail sales." The European Union has adopted a similar definition. In the United Kingdom, a recession is defined as negative economic growth for two consecutive quarters. Governments usually respond to recessions by adopting expansionary macroeconomic policies, such as monetary policy, incr ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Economic Stagnation
Economic stagnation is a prolonged period of slow economic growth (traditionally measured in terms of the GDP growth), usually accompanied by high unemployment. Under some definitions, "slow" means significantly slower than potential growth as estimated by macroeconomists, even though the growth rate may be nominally higher than in other countries not experiencing economic stagnation. Secular stagnation theory The term "secular stagnation" was originally coined by Alvin Hansen in 1938 to "describe what he feared was the fate of the American economy following the Great Depression of the early 1930s: a check to economic progress as investment opportunities were stunted by the closing of the frontier and the collapse of immigration". Warnings similar to secular stagnation theory have been issued after all deep recessions, but they usually turned out to be wrong because they underestimated the potential of existing technologies.Pagano and Sbracia (2014"The secular stagnation hypo ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
