Economics: The Structure - Conduct - Performance Paradigm
Yet costs, prices, industries and markets are the very lifeblood of microeconomics, just as inflation, output and growth are the lifeblood of macroeconomics. Economics dominates public policy and every country’s chief executive regards his (or her) macroeconomic adviser as a vital aide. But economics has almost no influence on business policy, and in only a small minority of companies does the chief executive have an economic adviser at all. The evolution of microeconomics over the past century ...
Economics: Wealth and Poverty
In the 1930 elections the Democratic Party won control of the House of Representatives and, in combination with liberal Republicans, the Senate as well. Soon afterward a slight rise in production and employment made it seem that the worst of the depression was over. Then, in the spring of 1931, another crisis erupted. The weakening western European economy brought down a major bank in Vienna, and Germany defaulted on its reparations payments. Hoover proposed a one-year moratorium on reparations ...
Economics: Globalization
In recent years China has replaced Japan as the country with which the US has its biggest trade imbalance. The shortfall is already massive and it seems to grow bigger by the day. While Chinese imports have been largely tracking the growth in exports, most of the imports come from Japan and the Far East, whereas most of the exports go to America. At this dawn of the new millennium, we are at the doorstep of a new age of progress, an information age that is transforming the nature of business and ...
