| Anti-globalization movement The anti-globalization movement is critical of the globalization of capitalism. Participants base their criticisms on a number of related ideas. What is shared is that participants stand in opposition to the unregulated political power of large, multi-national corporations and to the powers exercised through trade agreements. Anti-globalization_movement
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| Computer software Computer software, or just software is a general term used to describe a collection of computer programs, procedures and documentation that perform some tasks on a computer system.The term includes Application software such as word processors which perform productive tasks for users. Computer_software
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| Crime Societies define crime as the breach of one or more rules or laws for which some governing authority or force may ultimately prescribe a punishment. It's distinctions are in the nature of being a public wrong.When society deems informal relationships and sanctions, insufficient to establish and maintain a desired social order, there may result more formalized systems of social control imposed by a government, or by a sovereign state. Crime
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| Chaos theory mathematics, chaos theory describes the behavior of certain dynamical systems – that is, systems whose states evolve with time – that may exhibit dynamics that are highly sensitive to initial conditions (popularly referred to as the butterfly effect). As a result of this sensitivity, which manifests itself as an exponential growth of perturbations in the initial conditions, the behavior of chaotic systems appears to be random. Chaos_theory
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| Caste Castes are systems of occupation, endogamy, social culture, social class, and political power, the assignment of individuals to places in the social hierarchy is determined by social group and cultural heritage. Although India is often now associated with the word "caste", it was first used by the Portuguese to describe inherited class status in their own European society.Discrimination based on caste is prevalent mainly in parts of Asia (India, Pakistan, Sri Lanka, Bangladesh, Nepal, Japan) and Africa. Caste
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| Deforestation Deforestation is the logging and/or burning of trees in the forested area. There are several reasons for doing socharcoal can be sold as a commodity and used by humans, while cleared land is used as pasture, plantations of commodities and human settlement. The removal of trees without sufficient reforestation has resulted in damage to habitat, biodiversity loss and aridity. Deforested regions often degrade into wasteland. Deforestation
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| Denarius The Roman currency system included the 'denarius' (pluraldenarii) after 211 BC, a small silver coin, and it was the most common coin produced for circulation but was slowly debased until its replacement by the antoninianus. Denarius
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| Economics Economics is the social science that studies the production, distribution, and consumption of goods and services. The term economics comes from the Ancient Greek ', "management of a household, administration") from ', "house") + ', "custom" or "law"), hence "rules of the house(hold)". Economics
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| Extreme sport Extreme sports (also called action sport and adventure sport) is a media term for certain activities perceived as having a high level of inherent danger. These activities often involve speed, height, high level of physical exertion, highly specialized gear or spectacular stunts. Extreme_sport
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| List of economists This is an alphabetical list of notable economists, that is, experts in the social science of economics. There is also a separate list of politicians with economics training. List_of_economists
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| Econometrics Econometrics is concerned with the tasks of developing and applying quantitative or statistical methods to the study and elucidation of economic principles. Econometrics combines economic theory with statistics to analyze and test economic relationships. Theoretical econometrics considers questions about the statistical properties of estimators and tests, while applied econometrics is concerned with the application of econometric methods to assess economic theories. Econometrics
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| Federal Reserve System The Federal Reserve System (also the Federal Reserve; informally The Fed) is the central banking system of the United States. Created in 1913 by the enactment of the Federal Reserve Act (signed by Woodrow Wilson), it is a quasi-public and quasi-private (government entity with private components) banking system that comprises (1) the presidentially appointed Board of Governors of the Federal Reserve System in Washington, D.C.; Federal_Reserve_System
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| Friedrich Hayek Friedrich_Hayek
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| Herbert Simon Herbert Alexander Simon (June 15, 1916 February 9, 2001) was an American psychologist whose research ranged across the fields of cognitive psychology, computer science, public administration, economics, management, philosophy of science and sociology and was a professor, most notably, at Carnegie Mellon University. With almost a thousand often very highly cited publications he is one of the most influential social scientists of the 20th century. Herbert_Simon
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| Iowa Iowa
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| James Heckman James Joseph Heckman (born 19 April 1944) is an American economist and Nobel laureate. He is the Henry Schultz Distinguished Service Professor of Economics at the University of Chicago, Distinguished Chair of Microeconometrics at University College, London, and University College, Dublin. Heckman shared the Nobel Memorial Prize in Economics in 2000 with Daniel McFadden for his pioneering work in econometrics and microeconomics. He is considered to be among the ten most influential economists in the world. James_Heckman
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| James Tobin James Tobin (March 5, 1918 March 11, 2002) was an American economist who in his lifetime, had served on the Council of Economic Advisors, the Board of Governors of the Federal Reserve System, and had taught at Harvard and Yale Universities. He developed the ideas of Keynesian economics, and advocated government intervention to stabilize output and avoid recessions. James_Tobin
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| Minimum wage A minimum wage is the lowest hourly, daily or monthly wage that employers may legally pay to employees or workers. Equivalently, it is the lowest wage at which workers may sell their labor. Although minimum wage laws are in effect in a great many jurisdictions, there are differences of opinion about the benefits and drawbacks of a minimum wage. Minimum_wage
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| Milton Friedman Milton Friedman (June 26, 1912 November 16, 2006) was an American economist, statistician and public intellectual, and a recipient of the Nobel Memorial Prize in Economic Sciences. He is best known among scholars for his theoretical and empirical research, especially consumption analysis, monetary history and theory, and for his demonstration of the complexity of stabilization policy. Milton_Friedman
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| Ronald Coase Ronald Harry Coase (born 29 December 1910) is a British economist and the Clifton R. Musser Professor Emeritus of Economics at the University of Chicago Law School. After studying with the University of London External Programme in 1927-29, Coase entered the London School of Economics where he took courses with Arnold Plant. Ronald_Coase
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| Ragnar Anton Kittil Frisch Ragnar Anton Kittil Frisch (March 3, 1895 January 31, 1973) was a Norwegian economist. Ragnar_Anton_Kittil_Frisch
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| Slavery Slavery is a form of forced labor in which people are considered to be, or treated as, the property of others. Slaves can be held against their will from the time of their capture, purchase or birth, and deprived of the right to leave, to refuse to work, or to receive compensation (such as wages). Slavery
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| Tax To tax (from the latin taxare:tangere:levy upon a taxpayer (an individual or legal entity) by a state or the functional equivalent of a state.Taxes are also imposed by many subnational entities. Taxes consist of direct tax or indirect tax, and may be paid in money or as its labour equivalent (often but not always unpaid). A tax may be defined as a "pecuniary burden laid upon individuals or property to support the government Tax
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| Tragedy of the anticommons tragedy of the anticommons is a neologism coined by Michael Heller to describe a coordination breakdown where the existence of numerous rights holders frustrates achieving a socially desirable outcome. The term mirrors the older term tragedy of the commons used to describe coordination breakdowns arising from insufficient rights holders. Tragedy_of_the_anticommons
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| United States Constitution The Constitution of the United States of America is the supreme law of the United States. It is the foundation and source of the legal authority underlying the existence of the United States of America and the Federal Government of the United States. It provides the framework for the organization of the United States Government. United_States_Constitution
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| Inflation In economics, inflation is a rise in the general level of prices of goods and services in an economy over a period of time. purchasing power in the internal medium of exchange which is also the monetary unit of account in an economy. A chief measure of general price-level inflation is the general inflation rate, which is the percentage change in a general price index (normally the Consumer Price Index) over time. Inflation
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| Alexander Hamilton Alexander Hamilton (January 11, 1755 or 1757 – July 12, 1804) was the first United States Secretary of the Treasury, a Founding Father, economist, and political philosopher. He led calls for the Philadelphia Convention, was one of America's first Constitutional lawyers, and cowrote the Federalist Papers, a primary source for Constitutional interpretation.Born on the British West Indian island of Nevis, Hamilton was educated in the Thirteen Colonies. Alexander_Hamilton
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| Social capital Social capital is a social science concept used in business, economics, organizational behaviour, political science, public health and sociology that refers to connections within and between social networks. Though there are a variety of related definitions, which have been described as "something of a cure-all" for the problems of modern society, they tend to share the core idea "that social networks have value. Social_capital
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| Individual capital Individual_capital
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| Human capital Human capital refers to the stock of skills and knowledge embodied in the ability to perform labor so as to produce economic value. It is the skills and knowledge gained by a worker through education and experience. Many early economic theories refer to it simply as labor, one of three factors of production, and consider it to be a fungible resource -- homogeneous and easily interchangeable. Other conceptions of labor dispense with these assumptions. Human_capital
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| Globalization Globalization (globalisation) is a term for the process by which local, regional or national phenomena become integrated on a global scale.Globalization is often used to refer to economic globalizationtrade, foreign direct investment, capital flows, migration, and the spread of technology. Globalization
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| Environmental economics Environmental economics is a subfield of economics concerned with environmental issues. Quoting from the National Bureau of Economic Research Environmental Economics program Environmental_economics
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| Fair trade Fair trade is an organized social movement and market-based approach that aims to help producers in developing countries and promote sustainability. The movement advocates the payment of a higher price to producers as well as social and environmental standards in areas related to the production of a wide variety of goods. Fair_trade
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| Fuzzy logic Fuzzy logic is a form of multi-valued logic derived from fuzzy set theory to deal with reasoning that is approximate rather than precise. In contrast with binary sets having binary logic, also known as crisp logic, the fuzzy logic variables may have a membership value of not only 0 or 1. Fuzzy_logic
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| Gary Becker Gary Stanley Becker (born December 2, 1930) is an American economist and a Nobel laureate. Born in Pottsville, Pennsylvania, Becker earned a B.A. at Princeton University in 1951 and a Ph.D. at The University of Chicago in 1955. He taught at Columbia University from 1957 to 1968, and then returned to The University of Chicago, where he holds joint appointments with the departments of Economics, Sociology, and the Booth School of Business. Gary_Becker
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| Kenneth Arrow Kenneth Joseph Arrow (born August 23, 1921) is an American economist and joint winner of the Nobel Memorial Prize in Economics with John Hicks in 1972. To date, he is the youngest person to receive this award, at 51.In economics, he is considered an important figure in post-World War II neo-classical economic theory. Kenneth_Arrow
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| William Vickrey William Spencer Vickrey (21 June 1914 - 11 October 1996) was a Canadian professor of economics and Nobel Laureate. Vickrey was awarded the Nobel Memorial Prize in Economics with James Mirrlees for their research into the economic theory of incentives under asymmetric information. The announcement of the prize was made just three days prior to his death. William_Vickrey
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| Amartya Sen Amartya Kumar Sen CH (Hon) (Bengali Ômorto Kumar Shen) (born 3 November 1933), is an Indian born Nobel Prize-winning economist. He is known "for his contributions to welfare economics" for his work on famine, human development theory, welfare economics, the underlying mechanisms of poverty, gender inequality, and political liberalism. He is an Indian citizen and a distinguished economist-philosopher who won the Nobel Memorial Prize in Economic Sciences in the year 1998. Amartya_Sen
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| Economist An economist is an expert in the social science of economics. The individual may also study, develop, and apply theories and concepts from economics and write about economic policy. Within this field there are many sub-fields, ranging from the broad philosophical theories to the focused study of minutiae within specific markets, macroeconomic analysis, microeconomic analysis or financial analysis, involving analytical methods and tools such as econometrics, statistics, economics computational models, financial economics, mathematical finance and mathematical economics. Economist
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| James M. Buchanan James McGill Buchanan, Jr. (born October 3, 1919) is a libertarian American economist renowned for his work on public choice theory, for which he won the 1986 Nobel Prize in Economics. Buchanan's work opened the door for the examination of how politicians' self-interest and non-economic forces affect government economic policy. Like many modern free-market economists, he supports radically shrinking the federal government, and abolishing most of its bureaucracies. James_M._Buchanan
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| Mashantucket Pequot Tribe See Main ArticlePequotThe Mashantucket Pequot are a small Native American tribal nation of the Algonquian language community in the state of Connecticut. The Mashantucket Pequot operate Foxwoods Resort Casino, the world's second largest resort casino and one of the most successful economically. Mashantucket_Pequot_Tribe
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| Pharmacia Pharmacia was a pharmaceutical and biotechnological company in Sweden. Pharmacia
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| Auction auction is a process of buying and selling goods or services by offering them up for bid, taking bids, and then selling the item to the winning bidder. In economic theory, an auction may refer to any mechanism or set of trading rules for exchange.There are several variations on the basic auction form, including time limits, minimum or maximum limits on bid prices, and special rules for determining the winning bidder(s) and sale price(s). Auction
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| Creative accounting Creative accounting and earnings management are euphemisms referring to accounting practices that may follow the letter of the rules of standard accounting practices, but certainly deviate from the spirit of those rules. They are characterized by excessive complication and the use of novel ways of characterizing income, assets, or liabilities and the intent to influence readers towards the interpretations desired by the authors. The terms "innovative" or "aggressive" are also sometimes used. Creative_accounting
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| Stock market crash A stock market crash is a sudden dramatic decline of stock prices across a significant cross-section of a stock market. Crashes are driven by panic as much as by underlying economic factors. They often follow speculative stock market bubbles.Stock market crashes are in fact social phenomena where external economic events combine with crowd behavior and psychology in a positive feedback loop where selling by some market participants drives more market participants to sell. Stock_market_crash
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| Joseph Stiglitz Joseph Eugene Stiglitz (born February 9, 1943) is an American economist and a professor at Columbia University. He is a recipient of the John Bates Clark Medal (1979) and the Nobel Memorial Prize in Economic Sciences (2001). He is also the former Senior Vice President and Chief Economist of the World Bank. Joseph_Stiglitz
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| Financial economics Financial economics is the branch of economics concerned with "the allocation and deployment of economic resources, both spatially and across time, in an uncertain environment" . both sides of a trade" . The questions within financial economics are typically framed in terms of "time, uncertainty, options and information" . Time Uncertainty (or risk) options Financial_economics
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| Franco Modigliani Franco Modigliani (June 18, 1918 – September 25, 2003) was an Italian-American economist at the MIT Sloan School of Management and MIT Department of Economics, and winner of the Nobel Memorial Prize in Economics in 1985.Born in Rome, Italy, he left Italy in 1939 because of his Jewish background and antifascist views. Franco_Modigliani
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| London School of Economics London_School_of_Economics
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| Principal component analysis Principal component analysis (PCA) involves a mathematical procedure that transforms a number of possibly correlated variables into a smaller number of uncorrelated variables called principal components. The first principal component accounts for as much of the variability in the data as possible, and each succeeding component accounts for as much of the remaining variability as possible. Principal_component_analysis
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