The New Economy and Theory of the Firm
Since the 1980s, capitalism has undergone major changes that have profoundly transformed industrial structures and the nature of large corporations, in terms of both...
The elasticity of supply: Explained
By analyzing the supply curve, we noticed that sellers are willing to supply more of a good when its price increases. To switch from...
Adam Smith’s theory of distribution
Adam Smith's distribution theory in 'The Wealth of Nations' is presented as a corollary to his price theory. The price of any product is...
Effective Communication Strategies in HR
Effective communication is the lifeblood of any organization, and this is especially true for HR professionals. HR deals with people-centric issues, from hiring and...
Quesnay and Physiocratic Thought
Unlike the mercantilists, Physiocratic thought developed over a short period (1756-1776) and only in the French context. It is a genuine school of thought...
The Impact of Artificial Intelligence on the Economy
Artificial Intelligence (AI) is a rapidly evolving technology with the potential to transform the global economy and our daily lives. From businesses to governments...
Monetary theories: Explained
Economic agents differ in terms of their holdings of currency. Some prefer to use it for transactions, while others aim to exploit it for...
How does economic inequality impact society?
Economic inequality is a pressing issue affecting societies worldwide. It refers to the unequal distribution of income and wealth among individuals within a society....
What Is Mercantilism?
Mercantilism is a school of thought derived from the Italian word "mercante," meaning merchant. Mercantilists were not "thinkers" in the traditional sense, nor did...
The Impact of Globalization on Financial Management
The financial landscape has been transformed by globalization, creating a complex and fascinating web of international opportunities and challenges. In an increasingly interconnected world,...