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Matthew Bishop

The Economist: Economics: An A-Z Guide

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  • Dilobar Kasymovahar citeratför 6 år sedan
    Is an increase in the number of people in relative poverty as a result of rising income inequality worth worrying about if absolute poverty is falling?
  • Dilobar Kasymovahar citeratför 6 år sedan
    The market-oriented policies had been introduced largely because of two concerns: first, that taxing the rich heavily may discourage them from wealth creation; and second, that giving money to the poor can destroy market incentives to self-help and make the recipient of aid dependent on the giver.
  • Dilobar Kasymovahar citeratför 6 år sedan
    government should intervene far more to shape the decisions taken by individuals in markets.
  • Ana Gonzálezhar citeratför 6 år sedan
    Macroeconomic policy is implemented under conditions of great uncertainty about the future. If things go wrong, or even if they go well, it will rarely be clear if a policy was right (or wrong) or merely lucky (or unlucky).
  • Ana Gonzálezhar citeratför 6 år sedan
    Economics is about how to maximise a person’s or a society’s “welfare”, not merely their financial wealth.
  • Ana Gonzálezhar citeratför 6 år sedan
    opportunity cost – which asks “What are you giving up to do this?”
  • Ana Gonzálezhar citeratför 6 år sedan
    economics: “the study of how society uses its scarce resources” or, more snappily, “the science of choices”.
  • herawan19har citeratför 7 år sedan
    experience showed that the seemingly clear relationship between unemployment and inflation had been at most a short-term phenomenon rather than an iron law of economics
  • Dilobar Kasymovahar citeratför 7 år sedan
    another American president, Ronald Reagan, was right when he described economists as unworldly “people, who see something work in practice and wonder if it would work in theory”.
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