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...y]]. The theories also differ in explaining the movement of money: In the classical version, associated with [[Irving Fisher]], money moves at a fixed rate and ...f the price level and real income), <math>P \cdot Y</math>). The Cambridge economists also thought wealth would play a role, but wealth is often omitted from the ...

...' Jena: Gustav Fischer.</ref> and the [[Stockholm school]], which included economists [[Erik Lindahl]] and [[Gunnar Myrdal]].<ref>{{cite journal|last=Ohlin|first The loanable funds doctrine extends the classical theory, which determined the interest rate solely by saving and investment, ...

...of Employment, Interest and Money]]''. Keynes, contrary to the mainstream economists of his time, argued that capitalist economies were not inherently self-corr ...y affect wages, prices, employment, and profits. Keynes disagrees with the classical view that flexible wages can cure unemployment, arguing that interest rates ...

...14/11/14/7027823/nairu-natural-rate-unemployment The NAIRU, explained: why economists don't want unemployment to drop too low], ''Vox'', Matthew Yglesias, Nov 14 Worse, as far as many economists were concerned, was that the Phillips curve had little or no theoretical ba ...

...hods developed by [[Quantum mechanics|quantum physicists]] and [[Economics|economists]] in order to solve problems in [[finance]]. It is a branch of [[econophys ...antum option pricing research typically focuses on the quantization of the classical [[Black–Scholes equation|Black–Scholes–Merton equation]] from the perspecti ...

The classical economists believed that the value of a product could be identified with the number of ...e [he supplies a reference to von Mises]. In view of the fact that so many economists placed and place an uncritical trust in index figures without troubling the ...

In the context of [[cardinal utility]], liberal economists postulate a '''law of diminishing marginal utility.''' This law states that ...iences can be a challenging and abstract task. To overcome this challenge, economists rely on the consent of '''revealed preferences,''' where they observe the c ...

...tive]] differences. An example of this can be found in the works of Soviet economists like [[Lev Gatovsky]], who sought to apply Marxist economic theory to the o ...cs.utoronto.ca/munro5/MARXECON.pdf |access-date=2007-08-23}}</ref> Marxian economists do not lean entirely upon the works of Marx and other widely known Marxists ...

...n]] and [[Piero Sraffa]] at the [[University of Cambridge]] in England and economists such as [[Paul Samuelson]] and [[Robert Solow]] at the [[Massachusetts Inst ..., particularly how broad its implications are, has not been agreed upon by economists. ...

...te, need, ..., as opposed to price, availability or [[personal income]]. [[Classical economics]] assumes that people act in their best (rational) interest.<ref> ...haviour or to [[Predictive modelling|predict]] future behaviours. Although economists are not typically interested in the specific causes of a person's preferenc ...

...cs. The young Italian student became in time one of the foremost Cambridge economists of his generation.<ref>Leijonhufvud, 2007, p. 1.</ref> |[[Axel Leijonhufvu ...an era, in the recent history of economic thought. This group of Cambridge economists had been the protagonist of one of those extraordinary and unique events in ...

[[File:Macro history economists.jpg|thumb|alt=Composite images of various people related to macroeconomic t ...a recession. He argued that this invalidated the assumptions of classical economists who thought that [[market clearing|markets always clear]], leaving no surpl ...

...ics of Imperfect Competition]]'' (1933).<ref name="RobinsonAssessments" /> Economists use the term "monopsony power" in a manner similar to "monopoly power", as ...nt of newly introduced minimum wage regulations is among the indirect ways economists use to pin down monopsony power in selected labour markets. This technique ...

...ists-and-economists-win-sloan-research-awards.html|title=90 Scientists and Economists Win Sloan Research Awards|date=March 10, 1985|newspaper=New York Times|page ...=Errede|first=Steven|year=2007|title=A Brief History of The Development of Classical Electrodynamics ...

...(they hold onto equity instead of the debt).<ref name="EconDictionary" /> Economists would indicate that a markup rule on economic cost used by a monopoly to se ...

...sily be expressed informally. Further, the language of mathematics allows economists to make specific, [[positivism|positive]] claims about controversial or con * [[Stephen Glaister|Glaister, Stephen]] (1984). ''Mathematical Methods for Economists'', 3rd ed., Blackwell. [https://books.google.com/books?id=Ct2nrJSHxsQC&pg=P ...

The traditional [[Neoclassical economics|neo-classical]] response to this criticism, given by [[Arthur Cecil Pigou|Pigou]], is tha * {{citation | last = Krugman | first = Paul |author-mask=2 | title= How Did Economists Get It So Wrong? | date= September 2, 2009 | url= https://www.nytimes.com/2 ...

Under standard economic theory, as elaborated by leading economists such as [[Nicholas Stern, Baron Stern of Brentford|Nicholas Stern]] and [[W The HMH is a theory that claims that the market failure in carbon is not a classical market failure because of the large systemic risks that are inherent to the ...

The classical formula for the present value of a series of ''n'' fixed monthly payments a ...l value or not is a question that would need to be carefully considered by economists and actuaries. In particular the meaning of an annual repayment ''rate'' mu ...

...nal ones but modified for the space of preferences over lotteries. Unlike classical Utilitarianism, RU does not assume cardinal utility or interpersonal compar [[Category:Belgian economists]] ...