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Overview

optimal growth theory

The analysis of the best growth path for an economy. An optimal growth path is determined by balancing the loss of current utility as consumption is reduced to finance investment against ...

optimal growth theory

optimal growth theory   Quick reference

A Dictionary of Economics (5 ed.)

Reference type:
Subject Reference
Current Version:
2017
Subject:
Social sciences, Economics
Length:
51 words

...optimal growth theory The analysis of the best growth path for an economy. An optimal growth path is determined by balancing the loss of current utility as consumption is reduced to finance investment against the future gain in utility as the benefit from greater investment is realized. See also golden rule...

optimal growth theory

optimal growth theory  

Reference type:
Overview Page
The analysis of the best growth path for an economy. An optimal growth path is determined by balancing the loss of current utility as consumption is reduced to finance investment against the future ...
Islam and the Challenge of Economic Development

Islam and the Challenge of Economic Development   Reference library

Ahmad Khurshid

Islam in Transition: Muslim Perspectives (2 ed.)

Reference type:
Subject Reference
Current Version:
2022
Subject:
Religion
Length:
2,573 words
Publisher:
Oxford University Press

...and the principles of social organisation. 4. Tazkiyah (purification plus growth). The mission of all the prophets of God was to perform the tazkiyah of man in all his relationships with God, with man, with natural environment, and with the society and state. We would submit that the Islamic concept of development is to be derived from its concept of tazkiyah , as it addresses itself to the problem of human development in all its dimensions and is concerned with growth and expansion towards perfection through purification of attitudes and...

Political Economy

Political Economy   Reference library

An Oxford Companion to the Romantic Age

Reference type:
Subject Reference
Current Version:
2009
Subject:
History, modern history (1700 to 1945), Literature
Length:
5,138 words
Publisher:
Oxford University Press

...of Political Economy , first published in 1817 , was an elaboration of a deductive model of growth and the distribution of its results between rent, profits, and wages that Ricardo had originally formulated as part of his case for the gradual withdrawal of agricultural protection in the corn law debates of 1814–15 . It embodied a theory of rent derived from the law of diminishing returns, but in contrast with Malthus's more harmonistic formulation of this theory it underlined the conclusion that land-rent was a form of monopoly return or transfer payment by...

Domesticity

Domesticity   Reference library

An Oxford Companion to the Romantic Age

Reference type:
Subject Reference
Current Version:
2009
Subject:
History, modern history (1700 to 1945), Literature
Length:
4,930 words
Publisher:
Oxford University Press

...Britain from the middle of the eighteenth century. A further sign was the developing emphasis upon hygiene, cleanliness, physical exercise, and other forms of regulating the body, as well as on the provision of a salubrious domestic atmosphere within the home in order to ensure optimum conditions for such physical health and beauty. Medical tracts like William Buchan 's ( 1729–1805 ) bestselling Domestic Medicine ( 1769 ) promulgated the practice of breastfeeding as a moral virtue: ‘she who abandons the fruit of her love … to the care of her nurse, must...

Transitions and Trajectories: Jews and Christians in the Roman Empire

Transitions and Trajectories: Jews and Christians in the Roman Empire   Reference library

Barbara Geller

Oxford History of the Biblical World

Reference type:
Subject Reference
Current Version:
2022
Subject:
Religion
Length:
14,334 words
Publisher:
Oxford University Press

...status of Jews and Judaism. The fourth and fifth centuries were overall a period of growth and prosperity for all of the communities of Palestine, not only because of that region's special status as Holy Land but also because it shared in an overall economic recovery in the east, facilitated by the radical administrative, economic, and financial reforms of Diocletian, which were continued by Constantine and Constantius. Although the economic situation was far from optimal, it was better than it had been during the political and economic anarchy of much of...

turnpike theory

turnpike theory  

Reference type:
Overview Page
A class of propositions in growth theory, concerned with the convergence or the closeness of the economy's optimal growth paths to maximal balanced growth paths. The term turnpike was coined ...
self-determination theory

self-determination theory  

(SDT)A theory of motivation concerned with the development and functioning of personality within social contexts, including sport. The theory focuses on the degree to which human behaviours are made ...
satisficing

satisficing  

Reference type:
Overview Page
A decision making procedure or cognitive heuristic that entails searching through the available options just long enough to find one that reaches a preset threshold of acceptability, first suggested ...
turnpike theory

turnpike theory   Reference library

Dictionary of the Social Sciences

Reference type:
Subject Reference
Current Version:
2002
Subject:
Social sciences
Length:
55 words

...theory A class of propositions in growth theory , concerned with the convergence or the closeness of the economy's optimal growth paths to maximal balanced growth paths. The term turnpike was coined by Robert Dorfman , Paul Samuelson , and Robert Solow in Linear Programming and Economic Analysis ( 1958 ) and is used to signify efficient capital...

satisficing behaviour

satisficing behaviour   Quick reference

A Dictionary of Human Geography

Reference type:
Subject Reference
Current Version:
2013
Subject:
Social sciences, Human Geography
Length:
90 words

...seek satisfactory returns rather than optimum profit or growth. The aim is to meet an acceptable, predetermined threshold of growth, based on a rational understanding of the market, rather than trying to achieve a more abstract notion of maximizing profit. In geographical terms, this means siting a company in a location that generates sufficient profits that satisfies expectation and other criteria, rather than trying to find an elusive optimal location that will maximize turnover and profit. See also location theory...

turnpike theorem

turnpike theorem   Quick reference

A Dictionary of Economics (5 ed.)

Reference type:
Subject Reference
Current Version:
2017
Subject:
Social sciences, Economics
Length:
76 words

...turnpike theorem In growth theory, a characterization of the optimal, or welfare-maximizing, growth path for the economy. A turnpike was the name given to roads in medieval England. It was derived from the fact that access to the road was controlled by soldiers with pikes (a form of spear) which were turned aside to allow a traveller to progress; the name was adopted for major highways in the US that provided the quickest route between...

self-determination theory

self-determination theory   Quick reference

The Oxford Dictionary of Sports Science & Medicine (3 ed.)

Reference type:
Subject Reference
Current Version:
2007
Subject:
Science and technology, Medicine and health
Length:
150 words

...environment satisfies the needs, a person will function effectively and develop in a healthy way, but to the extent the needs are thwarted, a person will function sub-optimally and will show evidence of ill-being. Self-determination theory incorporates four other theories: cognitive evaluation theory , organismic integration theory , causality orientations theory and basic needs theory...

acceleration principle

acceleration principle  

Dictionary of the Social Sciences

Reference type:
Subject Reference

...principle The principle that the demand for captial goods accelerates following a rise in the demand for output. The theory therefore emphasizes the role of demand, not the role of input prices and interest rates, in explaining investment. The acceleration principle is central to theories of the supply of capital goods. It has played an important role in models of business cycle s and in theories of economic growth, where it has been used to explain both aggregate investment and investment decisions by individual firms. The idea of investment...

growth theory

growth theory   Reference library

Dictionary of the Social Sciences

Reference type:
Subject Reference
Current Version:
2002
Subject:
Social sciences
Length:
807 words

...theories of ). They tend to emphasize the difficulty of fine tuning the economy to achieve full employment or optimal growth. Roy Harrod ( 1939 ) and Evsey Domar ( 1946 , 1947 ) developed the most influential of these theories, which demonstrated that long-term full employment requires that two fundamental conditions be met: the ratio of investment to income must equal the full-employment savings ratio (the savings ratio that would result if all resources were fully employed) and the economy's rate of growth must equal the natural rate of growth ...

Maslow’s hierarchy of needs

Maslow’s hierarchy of needs   Quick reference

A Dictionary of Human Resource Management (3 ed.)

Reference type:
Subject Reference
Current Version:
2017
Subject:
Social sciences, Business and Management
Length:
147 words

...In the workplace, it means managers must seek to satisfy all the needs of their employees if they want optimum performance. Whilst many workplaces address the deficiency needs, it is far more challenging to find ways of satisfying the growth needs, although attempts to do so can be seen in job redesign initiatives, empowerment , and teamworking . See also self-actualization...

satisficing

satisficing n.   Quick reference

A Dictionary of Psychology (4 ed.)

Reference type:
Subject Reference
Current Version:
2015

...price, location, number of rooms, and local amenities; human chess players also usually adopt satisficing moves because it is impossible to analyse all available moves in a typical chess position; and firms often seek satisfactory rather than optimum levels of profits and growth. See also psychological decision theory . satisfice vb . satisficer n . One who satisfices. [A blend of satis ( factory ) and ( suf ) ficing , because it involves the choice of options that are satisfactory or that...

V.K. Ramaswami

V.K. Ramaswami   Reference library

The New Oxford Companion to Economics in India (3 ed.)

Reference type:
Subject Reference
Current Version:
2012

... Glimpses of Indian Economic Policy: An Insider’s View , New Delhi, Oxford University Press. Ramaswami, V.K. 1969. ‘On Two-sector Neoclassical Growth’, Oxford Economic Papers , July, 21(2): 142–6. Ramaswami, V.K. and J.N. Bhagwati . 1963. ‘Domestic Distortions, Tariffs and the Theory of Optimal Subsidy’, Journal of Political Economy , 71(1): 44–50. Ramaswami, V.K. and T.N. Srinivasan . 1968. ‘Optimal Subsidies and Taxes When Some Factors are Traded’, Journal of Political Economy , Part 1, July/August, 76(4):...

Green, Harold John Alfred

Green, Harold John Alfred (1923–76)   Reference library

The Biographical Dictionary of American Economists

Reference type:
Subject Reference
Current Version:
2010
Subject:
Social sciences, Economics
Length:
655 words

...no. 273, pp. 177–80. ‘ Growth Models, Capital and Stability, ’ Economic Journal (1960), vol. 70, no. 277, pp. 57–73. ‘ The Social Optimum in the Presence of Monopoly and Taxation, ’ Review of Economic Studies (1961), vol. 27, no. 3, pp. 66–78. ‘ Direct Additivity and Consumers' Behaviour, ’ Oxford Economic Papers (1961), vol. 13, no. 2, pp. 132–36. ‘ A Note on the Measurement of Capital, ’ Canadian Journal of Economics and Political Science (1962), vol. 28, no. 2, pp. 281–2. ‘ Recent Contributions to the Theory of Economic Growth, ’ Canadian Journal of...

Optimality Theory

Optimality Theory   Reference library

Encyclopedia of Evolution

Reference type:
Subject Reference
Current Version:
2005
Subject:
Science and technology, Life Sciences, Social sciences, Anthropology
Length:
7,452 words
Illustration(s):
2

...that the magnitude of a cost does not necessarily indicate its importance in determining optimal behavior. Optimality theory and game theory have thrown light on a wide range of topics, including life histories (patterns of growth and reproduction, aging), parental care, foraging, signaling, aggression, and cooperation. They also sharpen our intuition about the consequences of natural selection and suggest directions for empirical research. Abrams, P. A. “ Optimal Traits When There Are Several Costs: The Interaction of Mortality and Energy Costs in...

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