Theories of Inflation: Explained
Following the Golden Age and the 1973 crisis, inflation became a major challenge for Western economies. Accompanied by the unexpected rise in unemployment, this...
the 4 forms of money
The forms of money have varied greatly throughout history. The transition from an economy dominated by barter to a monetary economy was accompanied by...
Money: definition, characteristics, and functions
Money, which lies at the heart of economic mechanisms, is a difficult concept to define. The concept covers several definitions, each of which gives...
The Quantity Theory of Money
The theory we will explore in this article, known as the quantity theory of money, originates from the work of early monetary scholars, including...
Process-oriented management approach : Explained
The adoption of process-oriented management approache stems from a quest for answers to complex problems and a desire to gain insights into the inner...
The Sociotechnical School of Thought: Explained
The sociotechnical school developed in England from the 1950s at the Tavistock Institute of Human Relations, established in 1947.
Its main representatives are Emery, Trist,...
The keys to productivity in economics : Explained
Productivity plays a crucial role in the economic development of a country. It measures the efficiency with which resources are utilized to produce goods...
Sauvy’s Spill-over Theory: Explained
Alfred Sauvy introduced the spill-over theory, a concept categorizing economic activities into three sectors: primary (agriculture), secondary (industry), and tertiary (services).
This theory provides...
Unequal Exchange Theory: Explained
In the 1960s and 1970s, a wave of economists challenged the liberal perspective on underdevelopment, moving away from the idea of a simple lag...
Debt Deflation Theory: Explained
Irving Fisher's theory of debt deflation, formulated in the aftermath of the 1929 crisis, provides a profound analysis of severe economic downturns.
While traditional...