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Leland B. Yeager
Leland Bennett Yeager (; October 4, 1924 – April 23, 2018) was an American economist dealing with monetary policy and international trade. Biography Yeager graduated from Oberlin College in 1948 with an A.B. and was granted an M.A. from Columbia University in 1949 and a Ph.D. from there in 1952. He had previously served in the United States Army in World War II, translating Japanese codes. He temporarily served as the Vice President of the Interlingua Institute from 1997 to 1998 after Deanna Hammond died. He has been a regular contributor to ''Liberty'' magazine and an occasional contributor to the "Mises Daily". He was a Professor Emeritus at both Auburn University and the University of Virginia. His monetary writings have strongly opposed Keynesian orthodoxy and have emphasized the crucial role of money in business cycles. His 1956 essay, "A Cash-Balance Interpretation of Depression" maintained that depression was caused by "an excess demand for money, in the sense that p ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Virginia School Of Political Economy
The Virginia School of political economy is a schools of economics, school of economic thought originating at the Thomas Jefferson Center of the University of Virginia in the 1950s and 1960s. Some of its proponents established the Center for the Study of Public Choice at Virginia Tech in 1969, moving it to George Mason University in 1983. The school focuses primarily on public choice theory, constitutional economics, and law and economics. Development The Virginia school emerged first at the Thomas Jefferson Center at the University of Virginia established by James M. Buchanan and G. Warren Nutter in 1957. It was there that Ronald Coase formulated his famous Coase theorem, theorem on The Problem of Social Cost, the problem of social cost (1960) and that Buchanan and Gordon Tullock wrote ''The Calculus of Consent: Logical Foundations of Constitutional Democracy, The Calculus of Consent'' in 1962. The latter would form the basis of the Virginia school of thought, as the seminal te ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Interlingua
Interlingua (; ISO 639 language codes ia, ina) is an international auxiliary language (IAL) developed between 1937 and 1951 by the American International Auxiliary Language Association (IALA). It ranks among the most widely used IALs and is the most widely used naturalistic IAL – in other words, those IALs whose vocabulary, grammar, and other characteristics are derived from natural languages, rather than being centrally planned. Interlingua literature maintains that (written) Interlingua is comprehensible to the hundreds of millions of people who speak Romance languages, though it is actively spoken by only a few hundred. Interlingua was developed to combine a simple, mostly regular grammar with a vocabulary common to the widest possible range of western European languages, making it unusually easy to learn, at least for those whose native languages were sources of Interlingua's vocabulary and grammar.Breinstrup, Thomas, Preface''Interlingua course for beginners'' Bilthove ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Cato Institute
The Cato Institute is an American libertarian think tank headquartered in Washington, D.C. It was founded in 1977 by Ed Crane, Murray Rothbard, and Charles Koch, chairman of the board and chief executive officer of Koch Industries.Koch Industries is the second largest privately held company by revenue in the United States. Cato was established to have a focus on public advocacy, media exposure and societal influence. According to the ''2020 Global Go To Think Tank Index Report'' (Think Tanks and Civil Societies Program, University of Pennsylvania), Cato is number 27 in the "Top Think Tanks Worldwide" and number 13 in the "Top Think Tanks in the United States". The Cato Institute is libertarian in its political philosophy, and advocates a limited role for government in domestic and foreign affairs as well as a strong protection of civil liberties. This includes support for lowering or abolishing most taxes, opposition to the Federal Reserve system and the Affordable Care Act, ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Cato Journal
The ''Cato Journal'' is a triannual peer-reviewed academic journal which covers public policy from an Austro- libertarian point of view. It was established in 1981 and is published by the Cato Institute. It publishes articles discussing politics and economy. The journal is a "free-market, public policy journal ... for scholars concerned with questions of public policy, yet it is written and edited to be accessible to the interested lay reader". The editor-in-chief is James A. Dorn. History The journal was established in 1981, when two issues were published. The frequency of publication has been triannual since 1982, with the exception of volume 15 for 1995. The Fall 2001 issue of the Cato Journal describes itself as "An interdisciplinary journal of public policy analysis" and contains articles by Alan Greenspan, Thomas M. Humphrey, Charles I.Plosser, Manuel H. Johnson, William A. Niskanen, Robert D. McTeer, Kevin Dowd, and Alan Reynolds, among others. In 2004/2005, the gro ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Monetary-disequilibrium Theory
Monetary disequilibrium theory is a product of the monetarist school and is mainly represented in the works of Leland Yeager and Austrian macroeconomics. The basic concepts of monetary equilibrium and disequilibrium were, however, defined in terms of an individual's demand for cash balance by Mises (1912) in his ''Theory of Money and Credit''. Monetary disequilibrium is one of three theories of macroeconomic fluctuations which accord an important role to money, the others being the Austrian theory of the business cycle and one based on rational expectations.Leland B. Yeage''The Significance of Monetary Disequilibrium,'' pp. 369-420. History of the concept Leland Yeager's (1968) understanding of the monetary disequilibrium theory begins with fundamental properties of money. The role of money as the generally accepted medium of exchange is one of the most important properties. The other two properties that Yeager emphasized are that the demand for money is a demand to hold rea ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Laissez-faire
''Laissez-faire'' ( ; from french: laissez faire , ) is an economic system in which transactions between private groups of people are free from any form of economic interventionism (such as subsidies) deriving from special interest groups. As a system of thought, ''laissez-faire'' rests on the following axioms: "the individual is the basic unit in society, i.e. the standard of measurement in social calculus; the individual has a natural right to freedom; and the physical order of nature is a harmonious and self-regulating system." Another basic principle of ''laissez-faire'' holds that markets should naturally be competitive, a rule that the early advocates of ''laissez-faire'' always emphasized. With the aims of maximizing freedom by allowing markets to self-regulate, early advocates of ''laissez-faire'' proposed a ''impôt unique'', a tax on land rent (similar to Georgism) to replace all taxes that they saw as damaging welfare by penalizing production. Proponents of ''l ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Milton Friedman
Milton Friedman (; July 31, 1912 – November 16, 2006) was an American economist and statistician who received the 1976 Nobel Memorial Prize in Economic Sciences for his research on consumption analysis, monetary history and theory and the complexity of stabilization policy. With George Stigler and others, Friedman was among the intellectual leaders of the Chicago school of economics, a neoclassical school of economic thought associated with the work of the faculty at the University of Chicago that rejected Keynesianism in favor of monetarism until the mid-1970s, when it turned to new classical macroeconomics heavily based on the concept of rational expectations. Several students, young professors and academics who were recruited or mentored by Friedman at Chicago went on to become leading economists, including Gary Becker, Robert Fogel, Thomas Sowell and Robert Lucas Jr. Friedman's challenges to what he called "naive Keynesian theory" began with his interpretation ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Monetarist
Monetarism is a school of thought in monetary economics that emphasizes the role of governments in controlling the amount of money in circulation. Monetarist theory asserts that variations in the money supply have major influences on national output in the short run and on price levels over longer periods. Monetarists assert that the objectives of monetary policy are best met by targeting the growth rate of the money supply rather than by engaging in discretionary monetary policy.Phillip Cagan, 1987. "Monetarism", '' The New Palgrave: A Dictionary of Economics'', v. 3, Reprinted in John Eatwell et al. (1989), ''Money: The New Palgrave'', pp. 195–205, 492–97. Monetarism is commonly associated with neoliberalism. Monetarism today is mainly associated with the work of Milton Friedman, who was among the generation of economists to reject Keynesian economics and criticise Keynes's theory of fighting economic downturns using fiscal policy ( government spending). Friedman and An ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Southern Economic Journal
Southern may refer to: Businesses * China Southern Airlines, airline based in Guangzhou, China * Southern Airways, defunct US airline * Southern Air, air cargo transportation company based in Norwalk, Connecticut, US * Southern Airways Express, Memphis-based passenger air transportation company, serving eight cities in the US * Southern Company, US electricity corporation * Southern Music (now Peermusic), US record label * Southern Railway (other), various railways * Southern Records, independent British record label * Southern Studios, recording studio in London, England * Southern Television, defunct UK television company * Southern (Govia Thameslink Railway), brand used for some train services in Southern England Media * ''Southern Daily'' or ''Nanfang Daily'', the official Communist Party newspaper based in Guangdong, China * ''Southern Weekly'', a newspaper in Guangzhou, China * Heart Sussex, a radio station in Sussex, England, previously known as "Southern FM" * 88 ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Keynesian
Keynesian economics ( ; sometimes Keynesianism, named after British economist John Maynard Keynes) are the various macroeconomic theories and models of how aggregate demand (total spending in the economy) strongly influences economic output and inflation. In the Keynesian view, aggregate demand does not necessarily equal the productive capacity of the economy. Instead, it is influenced by a host of factors – sometimes behaving erratically – affecting production, employment, and inflation. Keynesian economists generally argue that aggregate demand is volatile and unstable and that, consequently, a market economy often experiences inefficient macroeconomic outcomes – a recession, when demand is low, or inflation, when demand is high. Further, they argue that these economic fluctuations can be mitigated by economic policy responses coordinated between government and central bank. In particular, fiscal policy actions (taken by the government) and monetary policy actions (tak ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
University Of Virginia
The University of Virginia (UVA) is a Public university#United States, public research university in Charlottesville, Virginia. Founded in 1819 by Thomas Jefferson, the university is ranked among the top academic institutions in the United States, with College admissions in the United States, highly selective admission. Set within the The Lawn, Academical Village, a World Heritage Site, UNESCO World Heritage Site, the university is referred to as a "Public Ivy" for offering an academic experience similar to that of an Ivy League university. It is known in part for certain rare characteristics among public universities such as #1800s, its historic foundations, #Honor system, student-run academic honor code, honor code, and Secret societies at the University of Virginia, secret societies. The original governing Board of Visitors included three List of presidents of the United States, U.S. presidents: Thomas Jefferson, Jefferson, James Madison, and James Monroe. The latter as si ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Auburn University
Auburn University (AU or Auburn) is a public land-grant research university in Auburn, Alabama. With more than 24,600 undergraduate students and a total enrollment of more than 30,000 with 1,330 faculty members, Auburn is the second largest university in Alabama. It is one of the state's two public flagship universities. The university is classified among "R1: Doctoral Universities – Very High Research Activity" and its alumni include 5 Rhodes Scholars and 5 Truman Scholars. Auburn was chartered on February 1, 1856, as East Alabama Male College, a private liberal arts school affiliated with the Methodist Episcopal Church, South. In 1872, under the Morrill Act, it became the state's first land-grant university and was renamed as the Agricultural and Mechanical College of Alabama. In 1892, it became the first four-year coeducational school in Alabama, and in 1899 was renamed Alabama Polytechnic Institute (API) to reflect its changing mission. In 1960, its name was changed t ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
