Quantity theory of money

Marx’s theory of social development is also known as ‘dialectical materialism.’ Marxian materialism implies that ideas, institutions, philosophies, religions, etc., all are determined by real material condition of life and social classes. Marxian materialism simply means that men's economic activities are fundamental and they determine the general way the character of everything else they do. Marx got the idea of ‘dialectics’ from the German philosopher Hegel. According to the dialectical…

natural rate of unemployment differ across countries? a.) The natural rate of unemployment is described as “natural” because it is beyond the influence of monetary policy created by the Fed. Monetary policy will dictate the money supply, therefore the inflation rate. However, the money supply has no affect on the factors that determine unemployment, such as market power of unions, role of efficiency wages, or the job search process. The natural rate of unemployment is affected by labor market…

Anomie: A breakdown of social order as a result of a loss of standards and values. -This is important because the breakdown of social order is a key ingredient in the social control theory as the population becomes more dumbed down and less aware as the citizens stands and values descend. Differential Association Theory: people learn to commit crime as a result of contact with antisocial values, attitudes, and criminal behavior patterns. -This is important because as more people allow their…

This commentary specifically addresses oligopoly supermarkets and farmers as monopolistic competition that impacts the milk industry and how it affects consumers in the market. This article addresses the pressure that is placed upon suppliers of milk by the major retailers. This article outlines the control over the milk market that the supermarkets have over suppliers, working as an oligopoly. Therefore, the advantages and disadvantages will be analysed with the oligopoly characteristics,…

want to optimize your career it would be best not to be too honest or too intelligent. Funding source. Science used to be the search for truth, now it's the search for grant money. The greatest fear of a research scientist is loss of funding. Research depends upon a steady flow of money. And that steady flow of money usually depends upon the steady flow of research findings that support the biases of the funding source. Especially vulnerable are scientists doing research with political,…

factors depend on the individual personality of entrepreneur but some of them broke at failure and some survive the failure and they comeback with new ideas like Severson. The Cantillon’s Theory does view entrepreneur as an agent that takes risk and equilibrates supply and demand in the economy. Well Cantillon’s theory set way back 18th century but it is true and valid in many ways in this modern era. And we can see entrepreneurs are…

This paper examines strain theories and its relationship to the field of criminology. Durkheim proposed about a quick change in society, but he moved his concentration from society to neighborhoods. Robert K. Merton adapted Durkheim’s idea, but he also moved away from society and neighborhood. Instead, he suggested that crime comparatively varies with social classes in American societies. In low social class, there is a high rate of crime. He used “social structural strain” to explain social…

developed a new two-warehouse inventory model with quantity discounts and maintenance actions under an imperfect production process. The objective is to minimize the total expected cost per unit time. An efficient algorithm was developed to help the manager in accurately and quickly determining the order policy. Taleizadeh et al. [19] developed economic production quantity (EPQ) model with random defective…

1. One key concept from The Goal by Eliyahu M. Goldratt was the Theory of Constraints. This theory stipulates that every firm has at least one factor or constraint that prevents them from achieving their goal – which is typically profit. The main constraints plaguing Alex Rogo’s factory were the bottlenecks. In this novel, Mr. Goldratt lists his five recommended steps for managing constraints. In order, the steps are: Step 1: Identify the system’s constraint - In this step, a manager must…

Elasticity has been described as the degree of responsiveness of the quantity demanded relative to the factors that influence the quantity demanded (“Definition of Elasticity”, n.d.). There are two types of elasticity, the elasticity of demand which includes price elasticity of demand, income elasticity of demand, and cross elasticity of demand (McConnell, Brue, & Flynn, 2012). There is also elasticity of supply. Elasticity can vary among products because there are some goods that may be more…