By Julio Segura, Carlos Rodriguez Braun
An Eponymous Dictionary of Economics is an engaging and obtainable reference paintings with finished insurance of the sector of economics from Adam Smith’s challenge via Minkowski’s Theorem to Zellner’s Estimator. Eponymy - the perform of affixing the identify of the scientist to all or a part of what he/she has stumbled on - has many fascinating gains yet just a only a few makes an attempt were made to take on the topic lexicographically in technological know-how and paintings. this is often the 1st eponymous dictionary of economics ever released in any language. There are thousands of eponyms and the typical economist will likely be accustomed to, not to mention be capable to grasp, a comparatively limited variety of them. The Dictionary fills this void in a possible quantity that describes all correct financial eponyms. a few infrequent yet fascinating eponyms also are integrated, many entries are cross-referenced and all have a succinct bibliography for extra examining. Julio Segura and Carlos Rodríguez Braun have assembled a special Dictionary that would be a useful and masses welcomed reference booklet for fiscal newshounds, economists and financial students in any respect degrees of academe, and in all components of economics and its linked fields.
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Extra info for An Eponymous Dictionary Of Economics: A Guide To Laws And Theorems Named After Economists
That is, the terms of trade among commodities are taken as fixed by every individual decision maker (‘absence of monopoly power’). There is a variety of circumstances that justify the hypothesis, perhaps approximately: (a) every individual decision maker is an insignificant part of the overall market, (b) some trader – an auctioneer, a possible entrant, a regulator – guarantees by its potential actions the terms of trade in the market. ’ In particular, this holds for contingent commodities, promising 9 to deliver amounts of a (physical) good if a certain state of the world occurs.
Solutions that innovate around this trap are often effective but equally often radically alter the nature of the service, by including in it some elements of self-service and routine. Radio, records and television increased the productivity of musical performers, but their new services lacked the personal character and many other qualities of live concerts. The root of the problem lies in a particular characteristic of services, for many of which consumers are the main input of the production process.
Smith was something of a bête noire for the new German nationalist economists: previously anti-free trade German economists from List to Hildebrand, defenders of Nationalökonomie, had attacked Smith (and smithianismus) as an unoriginal prophet of free trade orthodoxies, which constituted in reality a defence of British industrial supremacy. Thus was born what came to be called Das Adam Smith Problem, in its more sophisticated version, the idea that the theory of sympathy set out in the Theory of Moral Sentiments is in some way incompatible with the self-interested, profit-maximizing ethic which supposedly underlies the Wealth of Nations.
An Eponymous Dictionary Of Economics: A Guide To Laws And Theorems Named After Economists by Julio Segura, Carlos Rodriguez Braun