…opponents of mechanization or advocates of short-time working, a reasoning they label as a misconception and which we know today under the label ‘lump of labor’ fallacy ‘. But the…

…expansion in Greek exports. Explaining the lack of responsiveness of Greek exports to the decline in wages has been the subject of several analyses. A study on macroeconomic adjustment programs…

…strictly economic issues involved here, aside from the political ones, there are three that stick out prominently: ownership, allocation, and distribution. The first may be the most important, or at…

…Rise and Fall of the Great Powers,” discusses the politics and economics of the global powers from 1500 to 2000 and the reason(s) for their decline. The Wiki short summary…

…Saving is just a residual, or remainder, of two economic flows: income minus outlays. It’s not itself an economic flow. In fact by its very nature, it’s a non-flow: holding…

…recessions occur is decided by a committee of the National Bureau of Economic Research (NBER), which looks at a broader set of data to see widespread, deep, and persistent declines…

…and retard its economic development. Meanwhile, in places served by more than one railroad, typically large mid-Atlantic cities, the competing carriers often engaged in price wars, giving those places an…