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Argentina

Argentina  

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Overview Page
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History
Painful economic reforms have stimulated rapid economic growth, but economic and social stability remain elusiveTo the west, Argentina is bounded by the southernmost section of the Andes, but most of ...
budgetary or fiscal policy

budgetary or fiscal policy  

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Overview Page
Concerns the effects of government expenditure and taxation upon aggregate demand and aggregate output. Since the development of organized state budgets, it has been recognized that forms and levels ...
capitalism

capitalism  

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Overview Page
An economic system in which the factors of production are privately owned and individual owners of capital are free to make use of it as they see fit; in particular, for their own profit. In this ...
demand for money

demand for money  

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Overview Page
The amount of money people wish to hold, or the function determining this. In Keynesian economics, the main motives for holding money rather than other forms of wealth are the transaction motive (to ...
dependency

dependency  

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A dependent territory is a territory that does not possess full political sovereignty (e.g. Ashmore and Cartier Islands is an external territory of Australia; and the Pitcairn Islands, a British ...
depression

depression  

An extended or severe period of recession. Depressions occur infrequently. The most recent Great Depression occurred in the 1930s; prior to that they occurred in the periods 1873–96, 1844–51, and ...
economics

economics  

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Religion
The study of the production, distribution, and consumption of resources, and the management of state income and expenditure. See also classical economics, ecological economics, environmental ...
Friedrich August von Hayek

Friedrich August von Hayek  

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(1899–1992)Austrian-born British economist whose free-market theories influenced a political generation and earned him a share in the Nobel Prize for Economics in 1974.Friedrich Hayek, a product of ...
inflation

inflation  

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A general increase in prices in an economy and consequent fall in the purchasing value of money. See also core inflation; hyperinflation; stagflation.
Keynesian economics

Keynesian economics  

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An economic theory based on the ideas of John Maynard Keynes (1883–1946), developed in the 1930s, that assigned an important role to the state as well as to the private sector. Central elements of ...
Keynesianism

Keynesianism  

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The term Keynesianism owes its origins to the thought of John Maynard Keynes (1883–1946), a prolific British economist whose most influential work was The General Theory of Employment, Interest, and ...
labor Movement

labor Movement  

Imprecise term referring to two ideas: first, that workers, especially blue‐collar or manual workers, share common political and economic interests which may be advanced through organized trade union ...
macroeconomics

macroeconomics  

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The macro aspects of economics, concerning the determination of aggregate quantities in the economy. Macroeconomics considers what determines total employment and production, consumption, investment ...
Margaret Thatcher

Margaret Thatcher  

(b. 13 Oct. 1925).British Prime Minister 1979–90Early careerBorn in Grantham (Lincolnshire), she was educated at Kesteven and Grantham Girls School, and at Oxford, where she studied chemistry. She ...
Milton Friedman

Milton Friedman  

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(1912–2006)US economist and leading proponent of monetarism in the Chicago School. He won the Nobel Prize for Economics in 1976.Born in New York and educated at Chicago and Columbia universities, ...
monetary inflation

monetary inflation  

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The artificial expansion of the money supply. In monetarism and related economic approaches, monetray inflation is seen as the direct cause of price inflation. See quantity theory of money.
monetary policy

monetary policy  

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Overview Page
Those instruments, such as interest rates, reserve requirements, and term controls, at the disposal of government for influencing the timing, availability, and cost of money and credit in an economy ...
New Right

New Right  

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Theorists who stress the efficacy of the free market for economic and political freedom. The main principles of new‐right philosophy can be found in the works of Hayek and the American economist ...
Phillips curve

Phillips curve  

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Overview Page
An inverse relationship between inflation and unemployment. The original Phillips curve depicted the rate of increase of nominal wages against unemployment. The model has been extended to take ...
political economy

political economy  

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Overview Page
The original name of what is now known as economics. The name has resurfaced in the ‘new political economy’ that draws attention to the political motivation of economic policies: policy-makers and ...

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