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Binary Economics
Binary economics, also known as two-factor economics, is a theory of economics that endorses both private property and a free market but proposes significant reforms to the bank, banking system. According to theories first proposed by Louis Kelso, widespread use of central bank-issued interest-free loans to fund Employee stock ownership plan, employee-owned firms can finance economic growth whilst widening stock ownership in a way which binary economists believe will be non-inflationary. The term "binary" derived from its heterodox economics, heterodox treatment of labor and capital (but not in the sense of binary opposition).Rodney Shakespeare (2007) ''The Modern Universal Paradigm''. Kelso claimed that in a truly free market wages would tend to fall over time, with all the benefits of technological progress accruing to capital owners. Overview Binary economics rejects the claim that neoclassical economics alone promotes a 'free market' which is free, fair and efficient. (e.g., ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Economics
Economics () is the social science that studies the production, distribution, and consumption of goods and services. Economics focuses on the behaviour and interactions of economic agents and how economies work. Microeconomics analyzes what's viewed as basic elements in the economy, including individual agents and 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 these elements. Other broad distinctions within economics include those between positive economics, describing "what is", and normative economics, advocating "what ought to be"; between economic theory and applied economics; between rational a ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Cold War
The Cold War is a term commonly used to refer to a period of geopolitical tension between the United States and the Soviet Union and their respective allies, the Western Bloc and the Eastern Bloc. The term '' cold war'' is used because there was no large-scale fighting directly between the two superpowers, but they each supported major regional conflicts known as proxy wars. The conflict was based around the ideological and geopolitical struggle for global influence by these two superpowers, following their temporary alliance and victory against Nazi Germany and Imperial Japan in 1945. Aside from the nuclear arsenal development and conventional military deployment, the struggle for dominance was expressed via indirect means such as psychological warfare, propaganda campaigns, espionage, far-reaching embargoes, rivalry at sports events, and technological competitions such as the Space Race. The Western Bloc was led by the United States as well as a number of othe ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Factors Of Production
In economics, factors of production, resources, or inputs are what is used in the production process to produce output—that is, goods and services. The utilized amounts of the various inputs determine the quantity of output according to the relationship called the production function. There are four ''basic'' resources or factors of production: land, labour, capital and entrepreneur (or enterprise). The factors are also frequently labeled "producer goods or services" to distinguish them from the goods or services purchased by consumers, which are frequently labeled "consumer goods". There are two types of factors: ''primary'' and ''secondary''. The previously mentioned primary factors are land, labour and capital. Materials and energy are considered secondary factors in classical economics because they are obtained from land, labour, and capital. The primary factors facilitate production but neither becomes part of the product (as with raw materials) nor becomes significantly t ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Binary
Binary may refer to: Science and technology Mathematics * Binary number, a representation of numbers using only two digits (0 and 1) * Binary function, a function that takes two arguments * Binary operation, a mathematical operation that takes two arguments * Binary relation, a relation involving two elements * Binary-coded decimal, a method for encoding for decimal digits in binary sequences * Finger binary, a system for counting in binary numbers on the fingers of human hands Computing * Binary code, the digital representation of text and data * Bit, or binary digit, the basic unit of information in computers * Binary file, composed of something other than human-readable text ** Executable, a type of binary file that contains machine code for the computer to execute * Binary tree, a computer tree data structure in which each node has at most two children Astronomy * Binary star, a star system with two stars in it * Binary planet, two planetary bodies of comparable mas ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Time (magazine)
''Time'' (stylized in all caps) is an American news magazine based in New York City. For nearly a century, it was published weekly, but starting in March 2020 it transitioned to every other week. It was first published in New York City on March 3, 1923, and for many years it was run by its influential co-founder, Henry Luce. A European edition (''Time Europe'', formerly known as ''Time Atlantic'') is published in London and also covers the Middle East, Africa, and, since 2003, Latin America. An Asian edition (''Time Asia'') is based in Hong Kong. The South Pacific edition, which covers Australia, New Zealand, and the Pacific Islands, is based in Sydney. Since 2018, ''Time'' has been published by Time USA, LLC, owned by Marc Benioff, who acquired it from Meredith Corporation. History ''Time'' has been based in New York City since its first issue published on March 3, 1923, by Briton Hadden and Henry Luce. It was the first weekly news magazine in the United States. The two had ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Infrastructure
Infrastructure is the set of facilities and systems that serve a country, city, or other area, and encompasses the services and facilities necessary for its economy, households and firms to function. Infrastructure is composed of public and private physical structures such as roads, railways, bridges, tunnels, water supply, sewers, electrical grids, and telecommunications (including Internet connectivity and broadband access). In general, infrastructure has been defined as "the physical components of interrelated systems providing commodities and services essential to enable, sustain, or enhance societal living conditions" and maintain the surrounding environment. Especially in light of the massive societal transformations needed to mitigate and adapt to climate change, contemporary infrastructure conversations frequently focus on sustainable development and green infrastructure. Acknowledging this importance, the international community has created policy focused on susta ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Employee Stock Ownership Plan
Employee stock ownership, or employee share ownership, is where a company's employees own shares in that company (or in the parent company of a group of companies). US employees typically acquire shares through a share option plan. In the UK, Employee Share Purchase Plans are common, wherein deductions are made from an employee's salary to purchase shares over time. In Australia it is common to have all employee plans that provide employees with $1,000 worth of shares on a tax free basis. Such plans may be selective or all-employee plans. Selective plans are typically only made available to senior executives. All-employee plans offer participation to all employees (subject to certain qualifying conditions such as a minimum length of service). Most corporations use stock ownership plans as a form of an employee benefit. Plans in public companies generally limit the total number or the percentage of the company's stock that may be acquired by employees under a plan. Compared with ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Nobel Memorial Prize In Economic Sciences
The Nobel Memorial Prize in Economic Sciences, officially the Sveriges Riksbank Prize in Economic Sciences in Memory of Alfred Nobel ( sv, Sveriges riksbanks pris i ekonomisk vetenskap till Alfred Nobels minne), is an economics award administered by the Nobel Foundation. Although not one of the five Nobel Prizes which were established by Alfred Nobel's will in 1895, it is commonly referred to as the Nobel Prize in Economics. The winners of the Nobel Memorial Prize in Economic Sciences are chosen in a similar way, are announced along with the Nobel Prize recipients, and the prize is presented at the Nobel Prize Award Ceremony. The award was established in 1968 by an endowment "in perpetuity" from Sweden's central bank, Sveriges Riksbank, to commemorate the bank's 300th anniversary. It is administered and referred to along with the Nobel Prizes by the Nobel Foundation. Laureates in the Memorial Prize in Economics are selected by the Royal Swedish Academy of Sciences. [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Paul Samuelson
Paul Anthony Samuelson (May 15, 1915 – December 13, 2009) was an American economist who was the first American to win the Nobel Memorial Prize in Economic Sciences. When awarding the prize in 1970, the Swedish Royal Academies stated that he "has done more than any other contemporary economist to raise the level of scientific analysis in economic theory". "In a career that spanned seven decades, he transformed his field, influenced millions of students and turned MIT into an economics powerhouse" Economic historian Randall E. Parker has called him the "Father of Modern Economics", and ''The New York Times'' considers him to be the "foremost academic economist of the 20th century". Samuelson was likely the most influential economist of the latter half of the 20th century."Paul ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Clark Kerr
Clark Kerr (May 17, 1911 – December 1, 2003) was an American professor of economics and academic administrator. He was the first chancellor of the University of California, Berkeley, and twelfth president of the University of California. Biography Early years Kerr was born in Stony Creek, Pennsylvania, to Samuel William and Caroline (Clark) Kerr. He was raised on rural farms outside of Reading, Pennsylvania, first in the Stony Creek area and then in the Oley Valley after age 10. Even after Kerr became one of the most prominent academic administrators of his generation, he always regarded himself as a "Pennsylvania farm boy" and expressed frustration with intellectuals who showed condescension towards agriculture. Kerr earned his A.B. from Swarthmore College in 1932, an M.A. from Stanford University in 1933, and a Ph.D. in economics from UC Berkeley in 1939. In 1945, he became an associate professor of industrial relations and was the founding director of the UC B ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
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