Say’s Law of Markets: Examining the Core Tenet of Liberal Economics
Jean-Baptiste Say's Law of Markets, articulated in 1803, stands as one of the fundamental principles in economic theory. Despite facing criticism from Keynes, this...
Understanding Economic Cycles: Exploring Kitchin, Juglar, and Kondratieff Cycles
Economic activity is a complex interplay of various cycles, each influencing different aspects of the economic landscape. From seasonal and agricultural cycles to the...
Endogenous Growth Theory : Unlocking the Secrets
The Théorie de la Croissance Endogène, or Endogenous Growth Theory, emerges as a revolutionary concept challenging conventional wisdom about economic development. This theory shifts...
Objectives of Financial Management
Efficient financial management necessitates the presence of clear objectives or goals. These objectives provide the benchmark for evaluating the efficiency of financial decisions. The...
The 2 Types of staff training
“Training is the act of equipping oneself with means to enable an individual or group to acquire knowledge, in a contractual perspective, in connection...
Theories of economic growth: A Historical Odyssey
Theories of economic growth have traversed a century-long journey marked by shifting paradigms and debates. From the classical views of Malthus, Smith, and Ricardo,...
Unraveling Unemployment Theories: A Century-Long Debate
For a century, unemployment theories have witnessed a relentless clash between liberals and Keynesians, with one prevailing over the other depending on the era....
Chaos Theory: Unraveling the Unpredictable
Even with the sophistication of economic theories, an inherent element of inexplicability arises when confronted with the reality of random economic evolution. Mathematician Henri...
Tragedy of the Commons: Managing Common Resources
The concept of "common goods" refers to resources that are accessible to everyone, as they are not limited by private ownership. However, Garrett Hardin...
Adverse Selection and Moral Hazard in Economic Transactions
Navigating the intricacies of economic transactions often involves grappling with the concepts of adverse selection and moral hazard.
Adverse Selection
Adverse selection, or adverse choice, occurs...