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58 relations: Accelerator effect, Aggregate demand, Arthur Cecil Pigou, Axel Leijonhufvud, Barter, Business cycle, Classical economics, Consumer confidence index, David Ricardo, Demand-side economics, Economic bubble, Exchange value, Financial crisis, Fiscal policy, Free market, Full employment, General glut, Goods, Great Depression, Interest rate, Investment, J. Bradford DeLong, J. M. Robertson, Jacob Viner, James Mill, Jean-Baptiste Say, John Maynard Keynes, John Stuart Mill, Karl Marx, Keynesian economics, Laissez-faire, Liquidity trap, List of eponymous laws, Macroeconomics, Marxism, Monetary circuit theory, Money, Neutrality of money, Overproduction, Parable of the broken window, Paul Krugman, Post-Keynesian economics, Real business-cycle theory, Robert Torrens (economist), Saving, Structural unemployment, Supply creates its own demand, Surplus value, The General Theory of Employment, Interest and Money, The New School, ..., Thomas Robert Malthus, Thomas Sowell, Treasury view, Underconsumption, Unemployment, Use value, Walras's law, William Beveridge. Expand index (8 more) »
Accelerator effect
The accelerator effect in economics refers to a positive effect on private fixed investment of the growth of the market economy (measured e.g. by a change in Gross Domestic Product).
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Aggregate demand
In macroeconomics, aggregate demand (AD) or domestic final demand (DFD) is the total demand for final goods and services in an economy at a given time.
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Arthur Cecil Pigou
Arthur Cecil Pigou (18 November 1877 – 7 March 1959) was an English economist.
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Axel Leijonhufvud
Axel Leijonhufvud (born 1933) is a Swedish economist, currently professor emeritus at the University of California Los Angeles (UCLA) and professor at the University of Trento, Italy.
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Barter
In trade, barter is a system of exchange where participants in a transaction directly exchange goods or services for other goods or services without using a medium of exchange, such as money.
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Business cycle
The business cycle, also known as the economic cycle or trade cycle, is the downward and upward movement of gross domestic product (GDP) around its long-term growth trend.
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Classical economics
Classical economics or classical political economy (also known as liberal economics) is a school of thought in economics that flourished, primarily in Britain, in the late 18th and early-to-mid 19th century.
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Consumer confidence index
In the United States of America, the U.S. consumer confidence index (CCI) is an indicator designed to measure consumer confidence, which is defined as the degree of optimism on the state of the U.S. economy that consumers are expressing through their activities of savings and spending.
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David Ricardo
David Ricardo (18 April 1772 – 11 September 1823) was a British political economist, one of the most influential of the classical economists along with Thomas Malthus, Adam Smith and James Mill.
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Demand-side economics
Demand-side economics is a macroeconomic theory which argues that economic growth is most effectively created by high demand for products and services.
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Economic bubble
An economic bubble or asset bubble (sometimes also referred to as a speculative bubble, a market bubble, a price bubble, a financial bubble, a speculative mania, or a balloon) is trade in an asset at a price or price range that strongly exceeds the asset's intrinsic value.
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Exchange value
In political economy and especially Marxian economics, exchange value (German: Tauschwert) refers to one of four major attributes of a commodity, i.e., an item or service produced for, and sold on the market.
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Financial crisis
A financial crisis is any of a broad variety of situations in which some financial assets suddenly lose a large part of their nominal value.
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Fiscal policy
In economics and political science, fiscal policy is the use of government revenue collection (mainly taxes) and expenditure (spending) to influence the economy.
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Free market
In economics, a free market is an idealized system in which the prices for goods and services are determined by the open market and consumers, in which the laws and forces of supply and demand are free from any intervention by a government, price-setting monopoly, or other authority.
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Full employment
Full employment means that everyone who wants a job have all the hours of work they need on "fair wages".
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General glut
In macroeconomics, a general glut is an excess of supply in relation to demand, specifically, when there is more production in all fields of production in comparison with what resources are available to consume (purchase) said production.
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Goods
In economics, goods are materials that satisfy human wants and provide utility, for example, to a consumer making a purchase of a satisfying product.
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Great Depression
The Great Depression was a severe worldwide economic depression that took place mostly during the 1930s, beginning in the United States.
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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).
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Investment
In general, to invest is to allocate money (or sometimes another resource, such as time) in the expectation of some benefit in the future – for example, investment in durable goods, in real estate by the service industry, in factories for manufacturing, in product development, and in research and development.
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J. Bradford DeLong
James Bradford "Brad" DeLong (born June 24, 1960) is an economic historian who is professor of Economics at the University of California, Berkeley.
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J. M. Robertson
John Mackinnon Robertson PC (14 November 1856 – 5 January 1933) was a prolific journalist, advocate of rationalism and secularism, and Liberal Member of Parliament in the United Kingdom for Tyneside from 1906 to 1918.
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Jacob Viner
Jacob Viner (May 3, 1892 – September 12, 1970) was a Canadian economist and is considered with Frank Knight and Henry Simons to be one of the "inspiring" mentors of the early Chicago School of Economics in the 1930s: he was one of the leading figures of the Chicago faculty.
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James Mill
James Mill (born James Milne, 6 April 1773 – 23 June 1836) was a Scottish historian, economist, political theorist, and philosopher.
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Jean-Baptiste Say
Jean-Baptiste Say (5 January 1767 – 15 November 1832) was a French economist and businessman who had classically liberal views and argued in favor of competition, free trade and lifting restraints on business.
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John Maynard Keynes
John Maynard Keynes, 1st Baron Keynes (5 June 1883 – 21 April 1946), was a British economist whose ideas fundamentally changed the theory and practice of macroeconomics and the economic policies of governments.
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John Stuart Mill
John Stuart Mill, also known as J.S. Mill, (20 May 1806 – 8 May 1873) was a British philosopher, political economist, and civil servant.
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Karl Marx
Karl MarxThe name "Karl Heinrich Marx", used in various lexicons, is based on an error.
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Keynesian economics
Keynesian economics (sometimes called Keynesianism) are the various macroeconomic theories about how in the short run – and especially during recessions – economic output is strongly influenced by aggregate demand (total demand in the economy).
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Laissez-faire
Laissez-faire (from) is an economic system in which transactions between private parties are free from government intervention such as regulation, privileges, tariffs and subsidies.
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Liquidity trap
A liquidity trap is a situation, described in Keynesian economics, in which, "after the rate of interest has fallen to a certain level, liquidity preference may become virtually absolute in the sense that almost everyone prefers cash holding a debt which yields so low a rate of interest."Keynes, John Maynard (1936) The General Theory of Employment, Interest and Money, United Kingdom: Palgrave Macmillan, 2007 edition, A liquidity trap is caused when people hoard cash because they expect an adverse event such as deflation, insufficient aggregate demand, or war.
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List of eponymous laws
This list of eponymous laws provides links to articles on laws, principles, adages, and other succinct observations or predictions named after a person.
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Macroeconomics
Macroeconomics (from the Greek prefix makro- meaning "large" and economics) is a branch of economics dealing with the performance, structure, behavior, and decision-making of an economy as a whole.
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Marxism
Marxism is a method of socioeconomic analysis that views class relations and social conflict using a materialist interpretation of historical development and takes a dialectical view of social transformation.
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Monetary circuit theory
Monetary circuit theory is a heterodox theory of monetary economics, particularly money creation, often associated with the post-Keynesian school.
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Money
Money is any item or verifiable record that is generally accepted as payment for goods and services and repayment of debts in a particular country or socio-economic context.
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Neutrality of money
Neutrality of money is the idea that a change in the stock of money affects only nominal variables in the economy such as prices, wages, and exchange rates, with no effect on real variables, like employment, real GDP, and real consumption.
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Overproduction
In economics, overproduction, oversupply, excess of supply or glut refers to excess of supply over demand of products being offered to the market.
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Parable of the broken window
The parable of the broken window was introduced by French economist Frédéric Bastiat in his 1850 essay Ce qu'on voit et ce qu'on ne voit pas (That Which We See and That Which We Do Not See) to illustrate why destruction, and the money spent to recover from destruction, is not actually a net benefit to society.
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Paul Krugman
Paul Robin Krugman (born February 28, 1953) is an American economist who is currently Distinguished Professor of Economics at the Graduate Center of the City University of New York, and a columnist for The New York Times.
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Post-Keynesian economics
Post-Keynesian economics is a school of economic thought with its origins in The General Theory of John Maynard Keynes, with subsequent development influenced to a large degree by Michał Kalecki, Joan Robinson, Nicholas Kaldor, Sidney Weintraub, Paul Davidson, Piero Sraffa and Jan Kregel.
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Real business-cycle theory
Real business-cycle theory (RBC theory) is a class of new classical macroeconomics models in which business-cycle fluctuations to a large extent can be accounted for by real (in contrast to nominal) shocks.
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Robert Torrens (economist)
Colonel Robert Torrens (1780 in Hervey Hill, Derry – 27 May 1864 in London) was a Royal Marines officer, political economist, MP, owner of the influential Globe newspaper and prolific writer.
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Saving
Saving is income not spent, or deferred consumption.
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Structural unemployment
Structural unemployment is a form of unemployment caused by a mismatch between the skills that workers in the economy can offer, and the skills demanded of workers by employers (also known as the skills gap).
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Supply creates its own demand
"Supply creates its own demand" is the formulation of Say's law.
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Surplus value
Surplus value is a central concept in Karl Marx's critique of political economy.
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The General Theory of Employment, Interest and Money
The General Theory of Employment, Interest and Money of 1936 is the last and most important book by the English economist John Maynard Keynes.
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The New School
The New School is a private non-profit research university centered in Manhattan, New York City, USA, located mostly in Greenwich Village.
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Thomas Robert Malthus
Thomas Robert Malthus (13 February 1766 – 23 December 1834) was an English cleric and scholar, influential in the fields of political economy and demography.
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Thomas Sowell
Thomas Sowell (born June 30, 1930) is an American economist and social theorist who is currently Senior Fellow at the Hoover Institution, Stanford University.
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Treasury view
In macroeconomics, particularly in the history of economic thought, the Treasury view is the assertion that fiscal policy has no effect on the total amount of economic activity and unemployment, even during times of economic recession.
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Underconsumption
In underconsumption theory in economics, recessions and stagnation arise due to inadequate consumer demand relative to the amount produced.
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Unemployment
Unemployment is the situation of actively looking for employment but not being currently employed.
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Use value
Use value (German: Gebrauchswert) or value in use is the utility of consuming a good—the want-satisfying power of a good or service in classical political economy.
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Walras's law
Walras' law is a principle in general equilibrium theory asserting that budget constraints imply that the values of excess demand (or, conversely, excess market supplies) must sum to zero.
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William Beveridge
William Henry Beveridge, 1st Baron Beveridge, (5 March 1879 – 16 March 1963) was a British economist who was a noted progressive and social reformer.
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Redirects here:
Say Law, Say law, Say's Law, Say's Theorem (Law), Says Law, Says' Law, Say’s Law, Say’s Theorem (Law), The Law of Markets.
References
[1] https://en.wikipedia.org/wiki/Say's_law
