Economics is divided into two important sections, they are: macroeconomics & microeconomics Definition of Micro Economics – Microeconomics is the study of particular markets, and segments of the economy. It looks at issues such as consumer behavior, individual labor markets, and the the.....
Deregulation involves removing government legislation and laws in a particular market. It is the process of removing or reducing state regulations, typically in the economic sphere. It often refers to removing barriers to competition. It is the repeal of governmental regulation of the economy. I.....
The transfer of ownership, property, or business from the government to the private sector is termed privatization. It can mean different things including moving something from the public sector into the private sector. It is also sometimes used as a synonym for deregulation when a heavily regula.....
Monetary reform is any movement or theory that proposes a system of supplying money and financing the economy that is different from the current system. It is the critical missing element needed to move humanity back from the brink of economic destruction and nuclear disaster, away from a futur.....
Demutualization is the process by which a customer-owned mutual organization (mutual) or co-operative changes legal form to a joint-stock company. It is a situation in which a mutually owned company such as an insurance company changes into a public company that issues stock. It is a process by w.....
Laissez Faire It is the principle of non-intervention by the government in any commercial affairs. It is a French phrase that translates to “leave us alone.” It is an economic theory from the 18th century that opposed any government intervention in business affairs. It refers to a political i.....
Happiness Economics or the economics of happiness is the formal academic study of the relationship between individual satisfaction and economic issues such as employment and wealth. Happiness economics attempts to use econometric analysis to discover what factors increase and decrease human well-.....
Primitive Socialist Accumulation, sometimes referred to as the socialist accumulation, was a concept developed by the Soviet economist Yevgeny Preobrazhensky to analyze the New Economic Policy (NEP) of the 1920s. It was developed as a counterpart to the process of the primitive accumulation of ca.....
Capitalism is based on private ownership of enterprises such as factories, plantations, mines, offices or shops, and the operation of these assets for profit. Other elements of the means of production such as labor, land, technology, and capital are also privately owned and can be bought and sold.....
Economic liberalism is based on the principles of personal liberty, private property, and limited government interference. It is a political and economic philosophy based on strong support for a market economy and private property in the means of production. It is an economic system organized on.....
Constitutional Economics is a branch of economics focusing on the economic analysis of the constitutional law of a state. It is a research program in economics and constitutionalism that has been described as explaining the choice “of alternative sets of legal-institutional-constitutional .....
The word “culture” comes from the Latin cuitus, which means “care” and from the French colere which means “to fill” as in “till the ground.” There are a number of words associated with culture. For example, there is the term “cult” which suggests something religious or sacred......