| definition of economic change: Understanding the Process of Economic Change Douglass C. North, 2010-05-09 In this landmark work, a Nobel Prize-winning economist develops a new way of understanding the process by which economies change. Douglass North inspired a revolution in economic history a generation ago by demonstrating that economic performance is determined largely by the kind and quality of institutions that support markets. As he showed in two now classic books that inspired the New Institutional Economics (today a subfield of economics), property rights and transaction costs are fundamental determinants. Here, North explains how different societies arrive at the institutional infrastructure that greatly determines their economic trajectories. North argues that economic change depends largely on adaptive efficiency, a society's effectiveness in creating institutions that are productive, stable, fair, and broadly accepted--and, importantly, flexible enough to be changed or replaced in response to political and economic feedback. While adhering to his earlier definition of institutions as the formal and informal rules that constrain human economic behavior, he extends his analysis to explore the deeper determinants of how these rules evolve and how economies change. Drawing on recent work by psychologists, he identifies intentionality as the crucial variable and proceeds to demonstrate how intentionality emerges as the product of social learning and how it then shapes the economy's institutional foundations and thus its capacity to adapt to changing circumstances. Understanding the Process of Economic Change accounts not only for past institutional change but also for the diverse performance of present-day economies. This major work is therefore also an essential guide to improving the performance of developing countries. |
| definition of economic change: Annual Report United States. Federal Emergency Management Agency, 1983 |
| definition of economic change: Institutions, Institutional Change and Economic Performance Douglass C. North, 1990-10-26 An analytical framework for explaining the ways in which institutions and institutional change affect the performance of economies is developed in this analysis of economic structures. |
| definition of economic change: Narrative Economics Robert J. Shiller, 2020-09-01 From Nobel Prize–winning economist and New York Times bestselling author Robert Shiller, a groundbreaking account of how stories help drive economic events—and why financial panics can spread like epidemic viruses Stories people tell—about financial confidence or panic, housing booms, or Bitcoin—can go viral and powerfully affect economies, but such narratives have traditionally been ignored in economics and finance because they seem anecdotal and unscientific. In this groundbreaking book, Robert Shiller explains why we ignore these stories at our peril—and how we can begin to take them seriously. Using a rich array of examples and data, Shiller argues that studying popular stories that influence individual and collective economic behavior—what he calls narrative economics—may vastly improve our ability to predict, prepare for, and lessen the damage of financial crises and other major economic events. The result is nothing less than a new way to think about the economy, economic change, and economics. In a new preface, Shiller reflects on some of the challenges facing narrative economics, discusses the connection between disease epidemics and economic epidemics, and suggests why epidemiology may hold lessons for fighting economic contagions. |
| definition of economic change: Essential Economics Matthew Bishop, 2004-05-01 |
| definition of economic change: The Experience Economy B. Joseph Pine, James H. Gilmore, 1999 This text seeks to raise the curtain on competitive pricing strategies and asserts that businesses often miss their best opportunity for providing consumers with what they want - an experience. It presents a strategy for companies to script and stage the experiences provided by their products. |
| definition of economic change: The Economics of Artificial Intelligence Ajay Agrawal, Joshua Gans, Avi Goldfarb, Catherine Tucker, 2024-03-05 A timely investigation of the potential economic effects, both realized and unrealized, of artificial intelligence within the United States healthcare system. In sweeping conversations about the impact of artificial intelligence on many sectors of the economy, healthcare has received relatively little attention. Yet it seems unlikely that an industry that represents nearly one-fifth of the economy could escape the efficiency and cost-driven disruptions of AI. The Economics of Artificial Intelligence: Health Care Challenges brings together contributions from health economists, physicians, philosophers, and scholars in law, public health, and machine learning to identify the primary barriers to entry of AI in the healthcare sector. Across original papers and in wide-ranging responses, the contributors analyze barriers of four types: incentives, management, data availability, and regulation. They also suggest that AI has the potential to improve outcomes and lower costs. Understanding both the benefits of and barriers to AI adoption is essential for designing policies that will affect the evolution of the healthcare system. |
| definition of economic change: An Inquiry Into the Nature and Causes of the Wealth of Nations Adam Smith, 1822 |
| definition of economic change: OECD Insights Sustainable Development Linking Economy, Society, Environment Strange Tracey, Bayley Anne, 2008-12-02 A succinct examination of the concept of sustainable development: what it means; how it is impacted by globalisation, production and consumption; how it can be measured; and what can be done to promote it. |
| definition of economic change: The Atlas of Economic Complexity Ricardo Hausmann, Cesar A. Hidalgo, Sebastian Bustos, Michele Coscia, Alexander Simoes, 2014-01-17 Maps capture data expressing the economic complexity of countries from Albania to Zimbabwe, offering current economic measures and as well as a guide to achieving prosperity Why do some countries grow and others do not? The authors of The Atlas of Economic Complexity offer readers an explanation based on Economic Complexity, a measure of a society's productive knowledge. Prosperous societies are those that have the knowledge to make a larger variety of more complex products. The Atlas of Economic Complexity attempts to measure the amount of productive knowledge countries hold and how they can move to accumulate more of it by making more complex products. Through the graphical representation of the Product Space, the authors are able to identify each country's adjacent possible, or potential new products, making it easier to find paths to economic diversification and growth. In addition, they argue that a country's economic complexity and its position in the product space are better predictors of economic growth than many other well-known development indicators, including measures of competitiveness, governance, finance, and schooling. Using innovative visualizations, the book locates each country in the product space, provides complexity and growth potential rankings for 128 countries, and offers individual country pages with detailed information about a country's current capabilities and its diversification options. The maps and visualizations included in the Atlas can be used to find more viable paths to greater productive knowledge and prosperity. |
| definition of economic change: World Development Report 2009 World Bank, 2008-11-04 Rising densities of human settlements, migration and transport to reduce distances to market, and specialization and trade facilitated by fewer international divisions are central to economic development. The transformations along these three dimensions density, distance, and division are most noticeable in North America, Western Europe, and Japan, but countries in Asia and Eastern Europe are changing in ways similar in scope and speed. 'World Development Report 2009: Reshaping Economic Geography' concludes that these spatial transformations are essential, and should be encouraged. The conclusion is not without controversy. Slum-dwellers now number a billion, but the rush to cities continues. Globalization is believed to benefit many, but not the billion people living in lagging areas of developing nations. High poverty and mortality persist among the world's 'bottom billion', while others grow wealthier and live longer lives. Concern for these three billion often comes with the prescription that growth must be made spatially balanced. The WDR has a different message: economic growth is seldom balanced, and efforts to spread it out prematurely will jeopardize progress. The Report: documents how production becomes more concentrated spatially as economies grow. proposes economic integration as the principle for promoting successful spatial transformations. revisits the debates on urbanization, territorial development, and regional integration and shows how today's developers can reshape economic geography. |
| definition of economic change: The Economy The Core Team, 2022-07 A complete introduction to economics and the economy taught in undergraduate economics and masters courses in public policy. CORE's approach to teaching economics is student-centred and motivated by real-world problems and real-world data. The only introductory economics text to equip students to address today's pressing problems by mastering the conceptual and quantitative tools of contemporary economics. THE ECONOMY: is a new approach that integrates recent developments in economics including contract theory, strategic interaction, behavioural economics, and financial instability; challenges students to address inequality, climate change, economic instability, wealth creation and innovation, and other problems; provides a unified treatment of micro- and macroeconomics; motivates all models and concepts by evidence and real-world applications. |
| definition of economic change: The Digital Economy Don Tapscott, 1996 Looks at how the Internet is affecting businesses, education, and government, touching on the twelve themes of the new economy and privacy issues |
| definition of economic change: What We Owe Each Other Minouche Shafik, 2022-08-23 From one of the leading policy experts of our time, an urgent rethinking of how we can better support each other to thrive Whether we realize it or not, all of us participate in the social contract every day through mutual obligations among our family, community, place of work, and fellow citizens. Caring for others, paying taxes, and benefiting from public services define the social contract that supports and binds us together as a society. Today, however, our social contract has been broken by changing gender roles, technology, new models of work, aging, and the perils of climate change. Minouche Shafik takes us through stages of life we all experience—raising children, getting educated, falling ill, working, growing old—and shows how a reordering of our societies is possible. Drawing on evidence and examples from around the world, she shows how every country can provide citizens with the basics to have a decent life and be able to contribute to society. But we owe each other more than this. A more generous and inclusive society would also share more risks collectively and ask everyone to contribute for as long as they can so that everyone can fulfill their potential. What We Owe Each Other identifies the key elements of a better social contract that recognizes our interdependencies, supports and invests more in each other, and expects more of individuals in return. Powerful, hopeful, and thought-provoking, What We Owe Each Other provides practical solutions to current challenges and demonstrates how we can build a better society—together. |
| definition of economic change: The New Oxford Handbook of Economic Geography Dariusz Wójcik, 2018-01-04 The first fifteen years of the 21st century have thrown into sharp relief the challenges of growth, equity, stability, and sustainability facing the world economy. In addition, they have exposed the inadequacies of mainstream economics in providing answers to these challenges. This volume gathers over 50 leading scholars from around the world to offer a forward-looking perspective of economic geography to understanding the various building blocks, relationships, and trajectories in the world economy. The perspective is at the same time grounded in theory and in the experiences of particular places. Reviewing state-of-the-art of economic geography, setting agendas, and with illustrations and empirical evidence from all over the world, the book should be an essential reference for students, researchers, as well as strategists and policy makers. Building on the success of the first edition, this volume offers a radically revised, updated, and broader approach to economic geography. With the backdrop of the global financial crisis, finance is investigated in chapters on financial stability, financial innovation, global financial networks, the global map of savings and investments, and financialization. Environmental challenges are addressed in chapters on resource economies, vulnerability of regions to climate change, carbon markets, and energy transitions. Distribution and consumption feature alongside more established topics on the firm, innovation, and work. The handbook also captures the theoretical and conceptual innovations of the last fifteen years, including evolutionary economic geography and the global production networks approach. Addressing the dangers of inequality, instability, and environmental crisis head-on, the volume concludes with strategies for growth and new ways of envisioning the spatiality of economy for the future. |
| definition of economic change: The Economics of Belonging Martin Sandbu, 2020-06-16 A radical new approach to economic policy that addresses the symptoms and causes of inequality in Western society today Fueled by populism and the frustrations of the disenfranchised, the past few years have witnessed the widespread rejection of the economic and political order that Western countries built up after 1945. Political debates have turned into violent clashes between those who want to “take their country back” and those viewed as defending an elitist, broken, and unpatriotic social contract. There seems to be an increasing polarization of values. The Economics of Belonging argues that we should step back and take a fresh look at the root causes of our current challenges. In this original, engaging book, Martin Sandbu argues that economics remains at the heart of our widening inequality and it is only by focusing on the right policies that we can address it. He proposes a detailed, radical plan for creating a just economy where everyone can belong. Sandbu demonstrates that the rising numbers of the left behind are not due to globalization gone too far. Rather, technological change and flawed but avoidable domestic policies have eroded the foundations of an economy in which everyone can participate—and would have done so even with a much less globalized economy. Sandbu contends that we have to double down on economic openness while pursuing dramatic reforms involving productivity, regional development, support for small- and medium-sized businesses, and increased worker representation. He discusses how a more active macroeconomic policy, education for all, universal basic income, and better taxation of capital could work together for society’s benefit. Offering real answers, not invective, for facing our most serious political issues, The Economics of Belonging shows how a better economic system can work for all. |
| definition of economic change: Poor Numbers Morten Jerven, 2013-02-01 One of the most urgent challenges in African economic development is to devise a strategy for improving statistical capacity. Reliable statistics, including estimates of economic growth rates and per-capita income, are basic to the operation of governments in developing countries and vital to nongovernmental organizations and other entities that provide financial aid to them. Rich countries and international financial institutions such as the World Bank allocate their development resources on the basis of such data. The paucity of accurate statistics is not merely a technical problem; it has a massive impact on the welfare of citizens in developing countries. Where do these statistics originate? How accurate are they? Poor Numbers is the first analysis of the production and use of African economic development statistics. Morten Jerven's research shows how the statistical capacities of sub-Saharan African economies have fallen into disarray. The numbers substantially misstate the actual state of affairs. As a result, scarce resources are misapplied. Development policy does not deliver the benefits expected. Policymakers' attempts to improve the lot of the citizenry are frustrated. Donors have no accurate sense of the impact of the aid they supply. Jerven's findings from sub-Saharan Africa have far-reaching implications for aid and development policy. As Jerven notes, the current catchphrase in the development community is evidence-based policy, and scholars are applying increasingly sophisticated econometric methods-but no statistical techniques can substitute for partial and unreliable data. |
| definition of economic change: General Theory Of Employment , Interest And Money John Maynard Keynes, 2016-04 John Maynard Keynes is the great British economist of the twentieth century whose hugely influential work The General Theory of Employment, Interest and * is undoubtedly the century's most important book on economics--strongly influencing economic theory and practice, particularly with regard to the role of government in stimulating and regulating a nation's economic life. Keynes's work has undergone significant revaluation in recent years, and Keynesian views which have been widely defended for so long are now perceived as at odds with Keynes's own thinking. Recent scholarship and research has demonstrated considerable rivalry and controversy concerning the proper interpretation of Keynes's works, such that recourse to the original text is all the more important. Although considered by a few critics that the sentence structures of the book are quite incomprehensible and almost unbearable to read, the book is an essential reading for all those who desire a basic education in economics. The key to understanding Keynes is the notion that at particular times in the business cycle, an economy can become over-productive (or under-consumptive) and thus, a vicious spiral is begun that results in massive layoffs and cuts in production as businesses attempt to equilibrate aggregate supply and demand. Thus, full employment is only one of many or multiple macro equilibria. If an economy reaches an underemployment equilibrium, something is necessary to boost or stimulate demand to produce full employment. This something could be business investment but because of the logic and individualist nature of investment decisions, it is unlikely to rapidly restore full employment. Keynes logically seizes upon the public budget and government expenditures as the quickest way to restore full employment. Borrowing the * to finance the deficit from private households and businesses is a quick, direct way to restore full employment while at the same time, redirecting or siphoning |
| definition of economic change: Finance & Development, September 2014 International Monetary Fund. External Relations Dept., 2014-08-25 This chapter discusses various past and future aspects of the global economy. There has been a huge transformation of the global economy in the last several years. Articles on the future of energy in the global economy by Jeffrey Ball and on measuring inequality by Jonathan Ostry and Andrew Berg are also illustrated. Since the 2008 global crisis, global economists must change the way they look at the world. |
| definition of economic change: The Age of Surveillance Capitalism Shoshana Zuboff, 2019-01-15 The challenges to humanity posed by the digital future, the first detailed examination of the unprecedented form of power called surveillance capitalism, and the quest by powerful corporations to predict and control our behavior. In this masterwork of original thinking and research, Shoshana Zuboff provides startling insights into the phenomenon that she has named surveillance capitalism. The stakes could not be higher: a global architecture of behavior modification threatens human nature in the twenty-first century just as industrial capitalism disfigured the natural world in the twentieth. Zuboff vividly brings to life the consequences as surveillance capitalism advances from Silicon Valley into every economic sector. Vast wealth and power are accumulated in ominous new behavioral futures markets, where predictions about our behavior are bought and sold, and the production of goods and services is subordinated to a new means of behavioral modification. The threat has shifted from a totalitarian Big Brother state to a ubiquitous digital architecture: a Big Other operating in the interests of surveillance capital. Here is the crucible of an unprecedented form of power marked by extreme concentrations of knowledge and free from democratic oversight. Zuboff's comprehensive and moving analysis lays bare the threats to twenty-first century society: a controlled hive of total connection that seduces with promises of total certainty for maximum profit -- at the expense of democracy, freedom, and our human future. With little resistance from law or society, surveillance capitalism is on the verge of dominating the social order and shaping the digital future -- if we let it. |
| definition of economic change: Principles Ray Dalio, 2018-08-07 #1 New York Times Bestseller “Significant...The book is both instructive and surprisingly moving.” —The New York Times Ray Dalio, one of the world’s most successful investors and entrepreneurs, shares the unconventional principles that he’s developed, refined, and used over the past forty years to create unique results in both life and business—and which any person or organization can adopt to help achieve their goals. In 1975, Ray Dalio founded an investment firm, Bridgewater Associates, out of his two-bedroom apartment in New York City. Forty years later, Bridgewater has made more money for its clients than any other hedge fund in history and grown into the fifth most important private company in the United States, according to Fortune magazine. Dalio himself has been named to Time magazine’s list of the 100 most influential people in the world. Along the way, Dalio discovered a set of unique principles that have led to Bridgewater’s exceptionally effective culture, which he describes as “an idea meritocracy that strives to achieve meaningful work and meaningful relationships through radical transparency.” It is these principles, and not anything special about Dalio—who grew up an ordinary kid in a middle-class Long Island neighborhood—that he believes are the reason behind his success. In Principles, Dalio shares what he’s learned over the course of his remarkable career. He argues that life, management, economics, and investing can all be systemized into rules and understood like machines. The book’s hundreds of practical lessons, which are built around his cornerstones of “radical truth” and “radical transparency,” include Dalio laying out the most effective ways for individuals and organizations to make decisions, approach challenges, and build strong teams. He also describes the innovative tools the firm uses to bring an idea meritocracy to life, such as creating “baseball cards” for all employees that distill their strengths and weaknesses, and employing computerized decision-making systems to make believability-weighted decisions. While the book brims with novel ideas for organizations and institutions, Principles also offers a clear, straightforward approach to decision-making that Dalio believes anyone can apply, no matter what they’re seeking to achieve. Here, from a man who has been called both “the Steve Jobs of investing” and “the philosopher king of the financial universe” (CIO magazine), is a rare opportunity to gain proven advice unlike anything you’ll find in the conventional business press. |
| definition of economic change: The Republic of Beliefs Kaushik Basu, 2020-12-08 [This book] argues that the traditional economic analysis of the law has significant flaws and has failed to answer certain critical questions satisfactorily. Why are good laws drafted but never implemented? When laws are unenforced, is it a failure of the law or the enforcers? And, most important, considering that laws are simply words on paper, why are they effective? Basu offers a provocative alternative to how the relationship between economics and real-world law enforcement should be understood. Basu summarizes standard, neoclassical law and economics before looking at the weaknesses underlying the discipline. Bringing modern game theory to bear, he develops a 'focal point' approach, modeling not just the self-interested actions of the citizens who must follow laws but also the functionaries of the state: the politicians, judges, and bureaucrats enforcing them. He demonstrates the connections between social norms and the law and shows how well conceived ideas can change and benefit human behavior. For example, bribe givers and takers will collude when they are treated equally under the law. And in food support programs, vouchers should be given directly to the poor to prevent shop owners from selling subsidized rations on the open market. Basu provides a new paradigm for the ways that law and economics interact: a framework applicable to both less developed countries and the developed world--Jacket. |
| definition of economic change: The Inglorious Years Daniel Cohen, 2021-05-18 The book describes how today's postindustrial society is transforming us all into sequences of data that can be manipulated by algorithms from anywhere on the planet. As yesterday's assembly line was replaced by working online, the leftist protests of the 1960s have given way to angry protests by the populist right. The author demonstrates how the digital economy creates the same mix of promises and disappointments as the old industrial order, and how it revives questions about society that are as relevant to us today as they were to the ancients |
| definition of economic change: The Fourth Industrial Revolution Klaus Schwab, 2017-01-03 World-renowned economist Klaus Schwab, Founder and Executive Chairman of the World Economic Forum, explains that we have an opportunity to shape the fourth industrial revolution, which will fundamentally alter how we live and work. Schwab argues that this revolution is different in scale, scope and complexity from any that have come before. Characterized by a range of new technologies that are fusing the physical, digital and biological worlds, the developments are affecting all disciplines, economies, industries and governments, and even challenging ideas about what it means to be human. Artificial intelligence is already all around us, from supercomputers, drones and virtual assistants to 3D printing, DNA sequencing, smart thermostats, wearable sensors and microchips smaller than a grain of sand. But this is just the beginning: nanomaterials 200 times stronger than steel and a million times thinner than a strand of hair and the first transplant of a 3D printed liver are already in development. Imagine “smart factories” in which global systems of manufacturing are coordinated virtually, or implantable mobile phones made of biosynthetic materials. The fourth industrial revolution, says Schwab, is more significant, and its ramifications more profound, than in any prior period of human history. He outlines the key technologies driving this revolution and discusses the major impacts expected on government, business, civil society and individuals. Schwab also offers bold ideas on how to harness these changes and shape a better future—one in which technology empowers people rather than replaces them; progress serves society rather than disrupts it; and in which innovators respect moral and ethical boundaries rather than cross them. We all have the opportunity to contribute to developing new frameworks that advance progress. |
| definition of economic change: Doughnut Economics Kate Raworth, 2018-03-08 Economics is the mother tongue of public policy. It dominates our decision-making for the future, guides multi-billion-dollar investments, and shapes our responses to climate change, inequality, and other environmental and social challenges that define our times. Pity then, or more like disaster, that its fundamental ideas are centuries out of date yet are still taught in college courses worldwide and still used to address critical issues in government and business alike. That’s why it is time, says renegade economist Kate Raworth, to revise our economic thinking for the 21st century. In Doughnut Economics, she sets out seven key ways to fundamentally reframe our understanding of what economics is and does. Along the way, she points out how we can break our addiction to growth; redesign money, finance, and business to be in service to people; and create economies that are regenerative and distributive by design. Named after the now-iconic “doughnut” image that Raworth first drew to depict a sweet spot of human prosperity (an image that appealed to the Occupy Movement, the United Nations, eco-activists, and business leaders alike), Doughnut Economics offers a radically new compass for guiding global development, government policy, and corporate strategy, and sets new standards for what economic success looks like. Raworth handpicks the best emergent ideas—from ecological, behavioral, feminist, and institutional economics to complexity thinking and Earth-systems science—to address this question: How can we turn economies that need to grow, whether or not they make us thrive, into economies that make us thrive, whether or not they grow? Simple, playful, and eloquent, Doughnut Economics offers game-changing analysis and inspiration for a new generation of economic thinkers. |
| definition of economic change: A Theory of Sustainable Sociocultural and Economic Development Mohamed Rabie, 2016-04-29 Why do some countries' economies struggle to develop, even when they are the focus of so much research and international funding? While recognizing that the obstacles facing poor nations are many and complex, Rabie proposes that the roots of most obstacles are sociocultural; thus, sociocultural transformation and economic restructuring can only be successful when treated as interconnected, mutually beneficial objectives. A Theory of Sustainable Sociocultural and Economic Development outlines an innovative model capable of identifying the major obstacles hindering poor nations' development in general, and the sociocultural and political obstacles in particular, placing them in their proper historical contexts, and addressing them comprehensively. |
| definition of economic change: Development as Freedom Amartya Sen, 2011-05-25 By the winner of the 1988 Nobel Prize in Economics, an essential and paradigm-altering framework for understanding economic development--for both rich and poor--in the twenty-first century. Freedom, Sen argues, is both the end and most efficient means of sustaining economic life and the key to securing the general welfare of the world's entire population. Releasing the idea of individual freedom from association with any particular historical, intellectual, political, or religious tradition, Sen clearly demonstrates its current applicability and possibilities. In the new global economy, where, despite unprecedented increases in overall opulence, the contemporary world denies elementary freedoms to vast numbers--perhaps even the majority of people--he concludes, it is still possible to practically and optimistically restain a sense of social accountability. Development as Freedom is essential reading. |
| definition of economic change: The Great Inflation Michael D. Bordo, Athanasios Orphanides, 2013-06-28 Controlling inflation is among the most important objectives of economic policy. By maintaining price stability, policy makers are able to reduce uncertainty, improve price-monitoring mechanisms, and facilitate more efficient planning and allocation of resources, thereby raising productivity. This volume focuses on understanding the causes of the Great Inflation of the 1970s and ’80s, which saw rising inflation in many nations, and which propelled interest rates across the developing world into the double digits. In the decades since, the immediate cause of the period’s rise in inflation has been the subject of considerable debate. Among the areas of contention are the role of monetary policy in driving inflation and the implications this had both for policy design and for evaluating the performance of those who set the policy. Here, contributors map monetary policy from the 1960s to the present, shedding light on the ways in which the lessons of the Great Inflation were absorbed and applied to today’s global and increasingly complex economic environment. |
| definition of economic change: Generative Social Science Joshua M. Epstein, 2012-01-02 Agent-based computational modeling is changing the face of social science. In Generative Social Science, Joshua Epstein argues that this powerful, novel technique permits the social sciences to meet a fundamentally new standard of explanation, in which one grows the phenomenon of interest in an artificial society of interacting agents: heterogeneous, boundedly rational actors, represented as mathematical or software objects. After elaborating this notion of generative explanation in a pair of overarching foundational chapters, Epstein illustrates it with examples chosen from such far-flung fields as archaeology, civil conflict, the evolution of norms, epidemiology, retirement economics, spatial games, and organizational adaptation. In elegant chapter preludes, he explains how these widely diverse modeling studies support his sweeping case for generative explanation. This book represents a powerful consolidation of Epstein's interdisciplinary research activities in the decade since the publication of his and Robert Axtell's landmark volume, Growing Artificial Societies. Beautifully illustrated, Generative Social Science includes a CD that contains animated movies of core model runs, and programs allowing users to easily change assumptions and explore models, making it an invaluable text for courses in modeling at all levels. |
| definition of economic change: A Decade after the Global Recession M. Ayhan Kose, Franziska Ohnsorge, 2021-03-19 This year marks the tenth anniversary of the 2009 global recession. Most emerging market and developing economies weathered the global recession relatively well, in part by using the sizable fiscal and monetary policy ammunition accumulated during prior years of strong growth. However, their growth prospects have weakened since then, and many now have less policy space. This study provides the first comprehensive stocktaking of the past decade from the perspective of emerging market and developing economies. Many of these economies have now become more vulnerable to economic shocks. The study discusses lessons from the global recession and policy options for these economies to strengthen growth and prepare for the possibility of another global downturn. |
| definition of economic change: Mission Economy Mariana Mazzucato, 2021-03-23 Longlisted for the 2021 Porchlight Business Book Awards, Big Ideas & New Perspectives “She offers something both broad and scarce: a compelling new story about how to create a desirable future.”—New York Times An award-winning author and leading international economist delivers a hard-hitting and much needed critique of modern capitalism in which she argues that, to solve the massive crises facing us, we must be innovative—we must use collaborative, mission-oriented thinking while also bringing a stakeholder view of public private partnerships which means not only taking risks together but also sharing the rewards. Capitalism is in crisis. The rich have gotten richer—the 1 percent, those with more than $1 million, own 44 percent of the world's wealth—while climate change is transforming—and in some cases wiping out—life on the planet. We are plagued by crises threatening our lives, and this situation is unsustainable. But how do we fix these problems decades in the making? Mission Economy looks at the grand challenges facing us in a radically new way. Global warming, pollution, dementia, obesity, gun violence, mobility—these environmental, health, and social dilemmas are huge, complex, and have no simple solutions. Mariana Mazzucato argues we need to think bigger and mobilize our resources in a way that is as bold as inspirational as the moon landing—this time to the most ‘wicked’ social problems of our time.. We can only begin to find answers if we fundamentally restructure capitalism to make it inclusive, sustainable, and driven by innovation that tackles concrete problems from the digital divide, to health pandemics, to our polluted cities. That means changing government tools and culture, creating new markers of corporate governance, and ensuring that corporations, society, and the government coalesce to share a common goal. We did it to go to the moon. We can do it again to fix our problems and improve the lives of every one of us. We simply can no longer afford not to. |
| definition of economic change: The Pig Book Citizens Against Government Waste, 2013-09-17 The federal government wastes your tax dollars worse than a drunken sailor on shore leave. The 1984 Grace Commission uncovered that the Department of Defense spent $640 for a toilet seat and $436 for a hammer. Twenty years later things weren't much better. In 2004, Congress spent a record-breaking $22.9 billion dollars of your money on 10,656 of their pork-barrel projects. The war on terror has a lot to do with the record $413 billion in deficit spending, but it's also the result of pork over the last 18 years the likes of: - $50 million for an indoor rain forest in Iowa - $102 million to study screwworms which were long ago eradicated from American soil - $273,000 to combat goth culture in Missouri - $2.2 million to renovate the North Pole (Lucky for Santa!) - $50,000 for a tattoo removal program in California - $1 million for ornamental fish research Funny in some instances and jaw-droppingly stupid and wasteful in others, The Pig Book proves one thing about Capitol Hill: pork is king! |
| definition of economic change: Global Trends 2040 National Intelligence Council, 2021-03 The ongoing COVID-19 pandemic marks the most significant, singular global disruption since World War II, with health, economic, political, and security implications that will ripple for years to come. -Global Trends 2040 (2021) Global Trends 2040-A More Contested World (2021), released by the US National Intelligence Council, is the latest report in its series of reports starting in 1997 about megatrends and the world's future. This report, strongly influenced by the COVID-19 pandemic, paints a bleak picture of the future and describes a contested, fragmented and turbulent world. It specifically discusses the four main trends that will shape tomorrow's world: - Demographics-by 2040, 1.4 billion people will be added mostly in Africa and South Asia. - Economics-increased government debt and concentrated economic power will escalate problems for the poor and middleclass. - Climate-a hotter world will increase water, food, and health insecurity. - Technology-the emergence of new technologies could both solve and cause problems for human life. Students of trends, policymakers, entrepreneurs, academics, journalists and anyone eager for a glimpse into the next decades, will find this report, with colored graphs, essential reading. |
| definition of economic change: Risk as an Economic Factor John Haynes, 1895 |
| definition of economic change: A Tea Reader Katrina Avila Munichiello, 2017-03-21 A Tea Reader contains a selection of stories that cover the spectrum of life. This anthology shares the ways that tea has changed lives through personal, intimate stories. Read of deep family moments, conquered heartbreak, and peace found in the face of loss. A Tea Reader includes stories from all types of tea people: people brought up in the tea tradition, those newly discovering it, classic writings from long-ago tea lovers and those making tea a career. Together these tales create a new image of a tea drinker. They show that tea is not simply something you drink, but it also provides quiet moments for making important decisions, a catalyst for conversation, and the energy we sometimes need to operate in our lives. The stories found in A Tea Reader cover the spectrum of life, such as the development of new friendships, beginning new careers, taking dream journeys, and essentially sharing the deep moments of life with friends and families. Whether you are a tea lover or not, here you will discover stories that speak to you and inspire you. Sit down, grab a cup, and read on. |
| definition of economic change: Foreign Exchange Value of the Dollar , 1984 |
| definition of economic change: The History of Economic Ideas Brandon Dupont, 2017-03-31 The global financial crisis has drawn attention to the importance of understanding historical ideas and learning lessons from the past. However, it can sometimes be difficult to trace the connections between old ideas and modern day issues. This textbook traces the evolution of economic ideas from the ancient to the modern world by examining the contributions of the most important scholars to some of the most important ideas in economics. The History of Economic Ideas surveys topics that are important for the understanding of contemporary economic issues, including the ethical foundations of modern economics; ideas regarding property rights; price theory; money and interest; public finance; the theories of business cycles and economic growth; international trade; and issues related to population and resource use. The book’s originality lies in its overall organization, which allows readers to explore the development of ideas on a specific topic in detail. Yet it is brief enough to use alongside the original writings on which it is based. Filled with student-friendly features including a series of Did You Know facts and end-of-chapter questions, this book is engaging and provides invaluable reading for all students of the history of economic thought and economic issues. |
| definition of economic change: The Gifts of Athena Joel Mokyr, 2011-11-14 The growth of technological and scientific knowledge in the past two centuries has been the overriding dynamic element in the economic and social history of the world. Its result is now often called the knowledge economy. But what are the historical origins of this revolution and what have been its mechanisms? In The Gifts of Athena, Joel Mokyr constructs an original framework to analyze the concept of useful knowledge. He argues that the growth explosion in the modern West in the past two centuries was driven not just by the appearance of new technological ideas but also by the improved access to these ideas in society at large--as made possible by social networks comprising universities, publishers, professional sciences, and kindred institutions. Through a wealth of historical evidence set in clear and lively prose, he shows that changes in the intellectual and social environment and the institutional background in which knowledge was generated and disseminated brought about the Industrial Revolution, followed by sustained economic growth and continuing technological change. Mokyr draws a link between intellectual forces such as the European enlightenment and subsequent economic changes of the nineteenth century, and follows their development into the twentieth century. He further explores some of the key implications of the knowledge revolution. Among these is the rise and fall of the factory system as an organizing principle of modern economic organization. He analyzes the impact of this revolution on information technology and communications as well as on the public's state of health and the structure of households. By examining the social and political roots of resistance to new knowledge, Mokyr also links growth in knowledge to political economy and connects the economic history of technology to the New Institutional Economics. The Gifts of Athena provides crucial insights into a matter of fundamental concern to a range of disciplines including economics, economic history, political economy, the history of technology, and the history of science. |
| definition of economic change: Public Principles of Public Debt, a Defense and Restatement James M Buchanan, 2021-09-09 This work has been selected by scholars as being culturally important and is part of the knowledge base of civilization as we know it. This work is in the public domain in the United States of America, and possibly other nations. Within the United States, you may freely copy and distribute this work, as no entity (individual or corporate) has a copyright on the body of the work. Scholars believe, and we concur, that this work is important enough to be preserved, reproduced, and made generally available to the public. To ensure a quality reading experience, this work has been proofread and republished using a format that seamlessly blends the original graphical elements with text in an easy-to-read typeface. We appreciate your support of the preservation process, and thank you for being an important part of keeping this knowledge alive and relevant. |
| definition of economic change: Leadership and Management of Quality in Higher Education Chenicheri Sid Nair, Len Webster, Patricie Mertova, 2010-08-12 This book provides a range of case studies concerning the leadership and management of quality development in higher education. It captures the experiences of senior administrators and managers to the complexity of problems that quality development involves. The authors draw attention to the human-centred approach to quality, as they argue that in any activity there is a need to take account of human values and attitudes. - Experiences from experts in the field - Guide to resources that are utilized in the higher education industry - Auditors' perceptions |
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DEFINITION definition and meaning | Collins English Dictionary
A definition is a statement giving the meaning of a word or expression, especially in a dictionary.
definition noun - Definition, pictures, pronunciation and usag…
Definition of definition noun in Oxford Advanced Learner's Dictionary. Meaning, pronunciation, picture, example …
DEFINITION Definition & Meaning - Merriam-Webster
The meaning of DEFINITION is a statement of the meaning of a word or word group or a sign or symbol. How to use definition in a sentence.
DEFINITION Definition & Meaning - Dictionary.com
Definition definition: the act of defining, or of making something definite, distinct, or clear.. See examples of DEFINITION used in a sentence.
DEFINITION | English meaning - Cambridge Dictionary
DEFINITION definition: 1. a statement that explains the meaning of a word or phrase: 2. a description of the features and…. Learn more.
DEFINITION definition and meaning | Collins English Dictionary
A definition is a statement giving the meaning of a word or expression, especially in a dictionary.
definition noun - Definition, pictures, pronunciation and usage …
Definition of definition noun in Oxford Advanced Learner's Dictionary. Meaning, pronunciation, picture, example sentences, grammar, usage notes, synonyms and more.
Definition - Wikipedia
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Definition Definition & Meaning | Britannica Dictionary
DEFINITION meaning: 1 : an explanation of the meaning of a word, phrase, etc. a statement that defines a word, phrase, etc.; 2 : a statement that describes what something is
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