Business
Mario Rizzo of ThinkMarkets has an interesting take on Tiger Woods and Labor Theory.
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The Efficient Market Hypothesis (EMH) states the stock market and other financial markets are efficient and all prices represent all information available to investors. It also assumes all participants in financial markets are rational beings, and therefore no one can consistently "beat" the market.
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Named after Dutch economist P J Verdoorn, this relates to the long-term dynamic relationship between the rate of growth in output and the growth of productivity due to increasing retums. P J Verdoorn, 'Verdoom's Law in Retrospect: A Comment', Economic Journal, vol. xc (June, 1980), 382-85 AV, PH
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Originally formulated by Scottish economist Adam Smith (1723-90), this is an explanation of why nations export goods, thereby creating intemational trade. Domestic economies often are too small to absorb all the output of their markets, thus generating a surplus. The theory has been developed by Burmese-bom...
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Named by the American economists Robert Dorfman (1911- ), Paul Samuelson (1915- ) and Robert Solow (1924- ); this theory asserts that it is sometimes better to adopt a maximum or near maximum possibility balanced growth-path to allow an economy to move to a more satisfactory state quickly, even if consumption...
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First observed by the English economist Sir William Petty (1623-87), this phenomenon is defined as the existence of fluctuations in NATIONAL INCOME over a variable timespan. Government policy is used to dampen the magnitude of the fluctuations in order to maintain stability in the economy. Petty's...
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Developed first by Austrian economist Cari Menger (1840-1921), this is the analysis of how individuals or firms will sacrifice present utility in the hope of greater future returns. The expected rate of return is highly subjective. See TERM STRUCTURE OF INTEREST RATES, RANDOM WALK HYPOTHESIS. C Menger,...
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This is the fixing of internal prices charged for transactions within departments in a firm, or within semi-autonomous divisions. It can be used to minimize the payment of tariffs/taxes or to transfer profits from a high-taxation country to a low-taxation one. J Hirshleifer, 'On the Economics of Transfer...
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This theory is named after American economist Charles Tiebout (1924-68), who proposed that if public goods/services were provided by a large number of local governments, consumers would have a greater diversity of choice. See SOCIAL WELFARE FUNCTION. C Tiebout, 'A Pure Theory of Local Government Expenditure',...
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First used by the American economist Peter Pyhrr, this is a budgeting method which starts with an evaluation of projects on their merits to produce a total. Zero-base budgeting contrasts with traditional budgeting, which starts with a fixed sum of money on the basis of which spending decisions are...
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Formulated by American economist Harvey Leibenstein (1922- ), this describes the general efficiency of a firm (judged on managerial and technological criteria) in transforming inputs at minimum cost into maximum profits. See THEORY of THE FIRM, MANAGERIAL THEORY of THE FIRM, SATISFICING, AGENCY THEORY,...
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The underutilization of labour in the creation of wealth. Unemployment can take many forms (such as voluntary, involuntary, frictional, structural or demand deficient) and it can be measured both as a stock and a flow. Classical economists saw unemployment as a temporary phenomenon until price flexibility...
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This is the name given to the 'LAISSEZ-FAIRE' policy of Margaret Thatcher (1925- ), British prime minister from 1979 to 1990. An advocate of SUPPLY-SIDE ECONOMICS, among Thatcher's policies were: reductions in tax; manipulation of the money supply to reduce inflation; PRIVATIZATION of public industry;...
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Analysis of how total output fail to be sold at the cost of production plus normal profit. Such insufficient consumption within a depressed economy aggravates the economic decline of the state. A further theory suggests that when there is inadequate buying power in an economy, the government should...
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The element of risk that is unpredictable and has no measurable probability. Profit is usually regarded as the reward a company earns for enduring uncertainty in business activity. See BOUNDED RATIONALITY. K H Borch, The Economics of Uncertainty (Princeton, N.J., 1968) AV, PH
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Theory of direct working class or trade union power, founded in the theories of French social philosopher Georges Sorel (1847-1922). Since political POWER arises from economic power, capitalism is most effectively replaced by workers organizing on the basis of their occupation or workplace, and then...
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This refers to the relationship between the fixed amount of interest paid on a financial security (such as a govemment or corporate bond) and the amount of time before the bond reaches its maturity date. Early work on this theory of expectations was carried out by US economist Irving Fisher (1867-1947)...
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Cited by English economist David Ricardo (1772-1823) and German political economist Karl Marx (1818-1883), this term describes the surplus derived from the use of a factor of production over its cost. Marx noted that an employee works more hours than is necessary to provide basic subsistence for himself...
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This proposes that changes in international trade are dictated by the relative technological sophistication of countries. Some nations, such as the US or Japan, have a competitive trade advantage because of their ability to innovate. Over time, other countries will bridge a particular gap although the...
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With its emphasis on aggregate supply, rather than aggregate demand (as in KEYNESIAN ECONOMICS), this theory is concemed with the productive capacity of the economy. Free market supply-side economics emerged in the 1980s as the complement to MONETARISM. Government measures included: tax cuts; measures...
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First discussed by the Physiocrats in France, this is the analysis of the effect of a particular tax on the distribution of economic welfare. The term also refers to the ultimate payer of a tax. If a government increases tax on petrol, oil companies may absorb it if competition is intense or they may...
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Turns out, the meteorite that supposedly killed the dinosaurs may have been 300,000 years late.
Human motivation exists in a five-tiered structure. The five tiers from lowest to highest are sociological needs, personal security needs, social needs, esteem needs and the penultimate need: self-actualization.
Great man creat history through their actions, leadership, art, and innovation. At least, Carlyle thought so in the 19th century.
Want to know the secret to personalities and personal success? Use hair part theory. It worked for Margaret Thatcher.
A theory developed by Pavlov that shows one can change a stimulus part of a stimulus-response pattern (like a flinch from a loud noise) to something neutral (a blue light turning on) and generate the same response. In this example, the blue light could cause the subject to flinch.
The explanation for 'Lost' is Jason Hunter's Time Loop theory. But you have to see it to really get it.
The island used to be connected to the rest of the Earth, but was detached during electromagnetism experiments conducted by the Dharma Initiative. It is capable of traveling anywhere with the only parameter being gravity
The most widespread and enduring conspiracy theories—British intelligence killed Princess Diana, the U.S. government orchestrated 9/11—are completely absurd. But that doesn’t stop them from drawing a vast and vehement audience. David Aaronovitch picks apart 12 grand conspiracy theories to conclude that they are concocted and promoted, in large part, by educated losers. (Yes, he actually calls them losers.)
'Gravity' hints at the passion behind Newton's theoriesDetroit Free PressBY JOHN MONAGHAN It's an image planted in the mind of every schoolkid: Isaac Newton sits beneath an apple tree as a shiny red orb bonks him on the noggin. ... ABC's Lost: Lighthouse Episode Recap & TheoriesMetrowny.com...
Now that they've had two days to think about it, what can the Internet's brainiest 'Lost' theorists tell us about the show's final season?
Inflation theory, which posits that the universe ballooned from subatomic scale to the size of a soccer ball during its first 10-33 seconds, has had great ...
There are a million different ingenious theories out there that explain this or that certain phenomenon and many are very complicated. See which one are surfacing on the interwebs today.
Nick Jonas (and the Administration) has just released a new song and it's called "Conspiracy Theory."
Listen to the newest single from his upcoming album "Who I Am" below:
Amateur historian Rick Rogers has spent decades developing a theory that either Dutch or Spanish traders visited Hawaii before Captain Cook's 1778 arrival. Maps from 1589 showing an approximation of Hawaii's shape and location; remains of a 1664 women indicating she had syphilis and the disappearance of 5 Spanish ships plying the Manila to Acapulco trade in the 1500 and 1600s make his case.
Scholars at the global warming skeptics thinktank, "The Science and Public Policy Institute (SPPI)" say ocean acidification theory is a scare tactic ignores Cambrian data, the chemistry of CO2 and the alkaline affect of ocean rocks.
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