Get A Lexicon of Economics (Social Science Lexicons) PDF

By Phyllis Deane, Jessica Kuper

ISBN-10: 0203990277

ISBN-13: 9780203990278

ISBN-10: 0415002346

ISBN-13: 9780415002349

A useful paintings which serves as an creation to the topic and as a reference for all those that have to stay up to date with fiscal considering.

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Extra info for A Lexicon of Economics (Social Science Lexicons)

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2) At the other extreme is the vision of a society of mass unemployment, with wide disparities in income distribution and, consequently, an underlying threat of violence in society. Those who own the machines, or the few still employed, will be the wealthy. The masses will be unemployed and impoverished. Such science-fiction type visions are probably more fiction than science, at least in a medium-term view. These visions imply such enormous increases in productivity as a corollary to automation that they can really only be extremely long-term projections.

Over the past twenty or thirty years the banking systems of most developed countries have changed considerably in several directions. The first major trend has been the internationalization of banking. Until the middle of this century banks conducted most of their international business through correspondent banks in the various countries, but most large and many medium-sized banks now reckon to have branches in all important international financial centres. This move was led by the large banks from the United States, and they and branches of banks from other countries have introduced new techniques and been the catalysts for change in many countries whose banking markets were previously sheltered.

Business cycles have commonly been viewed as evolving around a long-term growth trend, especially in the post-war period, and this has typically led to a divorce of ‘business cycle theory’, which attempts to explain the fluctuations around the trend, from ‘growth theory’, which attempts to explain the trend growth itself. In the 1970s, interest in long waves revived, and an alternative view is that business cycles are short-term fluctuations in economic activity around longer cycles or waves. In this case, business cycles will be analysed as growth cycles, with alternating rapid growth expansionary 32 BUSINESS CYCLES phases and slower growth contractionary phases (or recessions) during the upswing of the long wave; while during the downswing of the long wave they will involve periods of positive growth in the expansionary phase followed by periods of zero or negative growth in the contractionary phase (or depression).

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A Lexicon of Economics (Social Science Lexicons) by Phyllis Deane, Jessica Kuper

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