Conservapedia - User contributions [en]

Phillips curve

2007-04-05T23:20:07Z

Pkoad:

The Phillips curve is a model for unemployment whereby increasing inflation supposedly reduces unemployment. The model of an inverse relation between the two is plotted with inflation on the y-axis and unemployment on the x-axis.

Keynesian economists promoted the Phillips curve as a way of justifying increased inflation, or more money printed by the government. Milton Friedman, a critic of Keynesian economics, rejected this model. He persuasively argued that only when inflation exceeded expectations might it help reduce inflation.

The Phillips curve was abandoned by the late 1970s, when inflation and unemployment were very high at the same time in the United States.

Here is an algebraic formulation of the Phillips curve:

:<math> \Pi = \Pi_e - b(U-U_n) + v \,</math>

Plotting the inflation rate '''Π''' against unemployment '''''U''''' provides a downward-sloping Phillips curve.

[[Category:Economics]]

Consumer surplus

2007-04-05T23:17:17Z

Pkoad:

Consumer Surplus is the net benefit a consumer obtains from buying a good. In supply and demand models, consumer surplus is represented as the value (price times quantity) captured above the price level but below the demand curve.

[[Category:Economics]]

Law of Demand

2007-04-05T23:15:23Z

Pkoad: Redirecting to Demand

#REDIRECT [[Demand]]

Redistribution

2007-04-04T02:12:24Z

Pkoad: Redirecting to Income redistribution

#REDIRECT [[Income redistribution]]

Coase theorem

2007-04-03T01:14:20Z

Pkoad:

The Coase theorem states that if property rights are well-defined and [[transaction costs]] (costs of negotiating) are zero, then the most efficient or optimal economic activity will occur regardless of who owns the property rights. It does not matter who owns the property rights because negotiation will and market transactions will ensure optimal allocation of property.

This simple theorem, first announced in a 1960 paper <ref>Ronald H. Coase, “The Problem of Social Cost,” 3 J. Law & Econ. 1 (1960)</ref> by [[Ronald Coase]] that won the Nobel Prize for Economics in 1991, has powerful implications for economics, law and even philosophy. It is a conservative theorem and thus most schools and professors downplay or distort it. Coase himself was vilified for years by liberals for it.

The implications in law are that the best a judge for the economy is to minimize transaction costs, such as bureaucracy. Court decisions that impose additional procedural obligations, such as ''Goldberg v. Kelly'' (1969), can only detract from overall wealth and efficient economic behavior. The Coase theorem implicitly holds that much of the legal attempts to improve the economy are illusory, because there is no way to improve over the combination of clear legal entitlements and no government interference.

The implications in economics are that governments must intervene to lower transaction costs where feasible.

The implications in politics or philosophy are that, in a free society, it is almost irrelevant who has wealth and who does not with respect to economic activity. Useful or desired economic activity will occur regardless of who owns property or wealth. A list of the wealthiest individuals (Forbes 500) is meaningless, as wealth will flow to efficient activity regardless of who controls the money.

'''Sources''': <references/>

[[Category:Mathematics]]

[[Category:Economics]]

Coase theorem

2007-04-03T01:13:58Z

Pkoad:

Karl Marx

2007-04-03T01:10:16Z

Pkoad:

'''Karl Marx''' (1818-1883) was a [[Germany|German]] economist who sought to set [[socialism]] and [[communism]] on, what he saw as, a scientific basis. Marx was born in Prussia, educated in Germany, and a writer in London.

Marx saw "primitive" socialist thought as fundamentally a moral movement with no base in a practical science. Marx's solution was to ground an analysis of society on his principle of dialectical materialism.

Dialectic was a principle created by German philosopher [[Georg Wilhelm Friedrich Hegel]] which, although ferociously complex in his works, is based on the fairly straightforward conception of action and reaction. A situation arises that is less than perfect ("thesis") which provokes a reaction ("antithesis"), eventually a settlement is reached ("synthesis") which, is still far from perfect and provokes its own antithesis. Hegel saw the driving force of changes being the "Geist", variously translated as "spirit" or "mind". Marx took the dialectic and replaced Geist with materialism, at root the metabolism of man. To put it bluntly: you've got to eat!.

The necessity for material sustenance gives rise to an imperfect means of production, which changes as the internal contradictions of thesis and antithesis work themselves out. A key feature of Marx's sociology was that the competition for resources splits society into mutually antagonistic classes ("The history of all hitherto existing society is the history of class struggles.") whilst the operation of the dialectic serves to continually reduce the numbers of classes until, in the industrial age, society was almost wholly split between "bourgeoisie" and "proletariat".

"''Das Kapital''" ("''Capital''") seeks to demonstrate that the bourgeoisie make profits by exploitation of the proletariat. The exploitation arises where the value of the goods produced by workers is much more than the wages paid, and this "surplus value" is literally stolen from workers by owners. Marx sought to show that the competition amongst the bourgeoisie forced them to exploit their workers as much as possible. If an individual bourgeois refused to continue the exploitation he would soon be forced into bankruptcy or be taken over by someone who would. The result is a relentless increase in the misery of the proletariat who, eventually, would rebel and replace the existing capitalist system with a socialist/communist system.

Marx is considered very controversial in religious circles for his statement, "Religion...is the opium of the people." This was written in his 1843 work "A Contribution to the [http://www.marxists.org/archive/marx/works/1843/critique-hpr/intro.htm Critique of Hegel's Philosophy of Right]" and expresses Marx's belief that religion offers a false palliative to assuage the suffering of the oppressed, which he felt prevents people from seeking to cure the conditions which cause that suffering. It is often cited as evidence of Marx's atheism and generally reflects Marx's disdain for those who have found belief in powers higher than man himself.

[[Category:Political people]]
[[Category:History]]
[[Category:Economics]]
[[Category:Sociology]]

Talk:Money

2007-04-03T00:59:27Z

Pkoad: New page: I've deleted the scripture pertaining to money because the verses quoted fail to draw a clear distinction between "money" as wealth and "money" as currency (and related means of exchange)....

I've deleted the scripture pertaining to money because the verses quoted fail to draw a clear distinction between "money" as wealth and "money" as currency (and related means of exchange). Economics in general and this article in particular treat money as only the latter, while scriptural references appear to allude to the former. [[User:Pkoad|Pkoad]] 20:59, 2 April 2007 (EDT)

Money

2007-04-03T00:57:07Z

Pkoad:

Mixed economies

2007-04-03T00:53:21Z

Pkoad: New page: Mixed economies are economies which combine unregulated (but not necessarily "free") markets and government-subsidized or government-run industries. When mixed economies exist in democ...

Mixed economies are economies which combine unregulated (but not necessarily "free") [[markets]] and government-subsidized or government-run industries. When mixed economies exist in democracies, there is popular pressure to privatize government industries seen as inefficient, but also to regulate private industries seen as harmful to society.

[[Category:Economics]]

Capitalism

2007-04-03T00:51:07Z

Pkoad:

{{stub}}
'''Capitalism''' is an economic system whereby most of the means of production are in private (non-government) hands. In practice, all capitalist economies are [[mixed economies]], with at least part of the economy under public control either by regulation or government production.

Since the fall of [[communism]], and the advent of information technology, capitalism is becoming increasingly popular.

[[Category:Economics]]

Income Redistribution

2007-04-03T00:48:12Z

Pkoad:

In politics, income redistribution refers to the concept that governments should encourage the movement of wealth from richer individuals to poorer individuals. This idea is usually embraced by [[Liberals|liberals]] but rejected by [[conservatives]].

In economics, income redistribution occurs in unregulated markets when the altruistic feelings of actors induce them to make private transfers to others. In certain cases, private transfers alone are not enough to achieve an optimal distribution of income - for instance, if the transfers devolve to a coordination game of each person giving just the right amount to the "deserving" recepients. Then there arises an economic justification for state-run income transfers through the taxation and welfare systems.

[[Category:Economics]]

Substitution effect

2007-04-03T00:47:25Z

Pkoad: Redirecting to Substitution Effect

#REDIRECT [[Substitution Effect]]

Talk:Carl Menger

2007-04-02T04:30:18Z

Pkoad: New page: The Austrian School differs from Neoclassicism on several respects, and the two should not be confused. Neoclassicism might be viewed as the mainstream movement which the Austrian School h...

The Austrian School differs from Neoclassicism on several respects, and the two should not be confused. Neoclassicism might be viewed as the mainstream movement which the Austrian School had begotten. [[User:Pkoad|Pkoad]] 00:30, 2 April 2007 (EDT)

Carl Menger

2007-04-02T04:28:53Z

Pkoad:

Carl Menger (1840–1921) founded the [[Austrian School of Economics]]. He developed the theory of marginal utility. He refuted the labor theory of value popularized by classical economists like [[David Ricardo]].

Born in Poland, Menger worked as a journalist until he began to suspect that the classical economists he learned in school did not match the price behavior he observd in the market. He developed a theory of marginality authored The Theory of Capital (1888) and Money (1892).

[[Category:Biographies]]
[[Category:Economics]]

Utilitarianism

2007-04-02T04:23:16Z

Pkoad:

Utilitarianism is a philosophical principle which calls for actions to be judged on their usefulness (or magnitude of reward) to society or select individuals.

Jeremy Bentham, one of utilitarianism's early proponents, called the process of determining the most useful possible action the hedonistic calculus. One would, according to Bentham, measure the pleasure of certain actions against the pleasure of other actions. The problems of such a calculus include the feasibility of interpersonal utility comparisons, the weighting of utility through time, and the "artificial" utility gained not from actual actions but from, for example, avoiding risk. The theoretical person which nonetheless succeeds in undertaking such a computation is said to be a [[rational actor]].

==Utilitarianism and utility==

"[[Utility]]" is defined as the good to be maximized. Different thinkers have further defined it as happiness, well-being or pleasure. The idea of utilitarianism as a moral code was first thought up by 18th century reformer and philosopher [[Jeremy Bentham]]. He believed that, "nature has put man under the governance of two sovereign masters: pleasure and pain." Thus, he concluded that good is whatever it is that brings on the greatest happiness. His belief was passed on by others after him.

==Utilitarianism in the social sciences==

Across the social sciences, utilitarianism is encountered in the guise of rational choice theories. In [[economics]], it is the foundation of [[marginal analysis]]. In these academic contexts, utilitarianism loses nearly all of its positive side, and serves only as a tool for the analysis of social behavior. The partial exception to this lies in the field of [[welfare economics]], where some economists have tried to apply modern forms of the "hedonistic calculus" to issues of public choice.

==Critiques of utilitarianism==

Utility has been accused of supporting the idea that the ends justifies means, or that only material means count in the "hedonistic calculus." Most critiques of utilitarianism rest on a very narrow definition of utility as derived from completely private, completely tangible [[goods]] alone. This does not reflect the way in which utilitarianism is typically presented in contemporary social science. For example, utilitarian models have been developed whereby actors maximize altruism and salvation, among other goods.

[[Category:Philosophy]]
[[Category:Economics]]

Utilitarianism

2007-04-02T04:22:43Z

Pkoad:

Utility

2007-04-02T04:22:01Z

Pkoad:

Utility is an economic term representing the someone's satisfaction or happiness. The utility of a [[good]], for example, is its ability to bring satisfaction to the buyer.

Utility functions are mathematical ways of representing the benefits accruing to a consumer from his consumption of various goods. A utility function, in conjunction with a budget constraint, may be used to determine a consumer's optimal bundle of goods.

The term utility has its origins in the philosophical movement of [[utilitarianism]].

[[Category:Economics]]
[[Category:Philosophy]]

Rational actor

2007-04-02T04:21:30Z

Pkoad: Redirecting to Rational Behavior

#REDIRECT [[Rational Behavior]]

Rational actor

2007-04-02T04:21:09Z

Pkoad: Redirecting to Rational behavior

#REDIRECT [[rational behavior]]

Rational actor

2007-04-02T04:20:56Z

Pkoad: Redirecting to Rational behavior

#REDIRECT [[Rational behavior]]

Marginal analysis

2007-04-02T04:20:24Z

Pkoad: Redirecting to Marginal Analysis

#REDIRECT [[Marginal Analysis]]

Utilitarianism

2007-04-02T04:20:09Z

Pkoad:

Utilitarianism is a philosophical principle which calls for actions to be judged on their usefulness (or magnitude of reward) to society or select individuals.

Jeremy Bentham, one of utilitarianism's early proponents, called the process of determining the most useful possible action the hedonistic calculus. One would, according to Bentham, measure the pleasure of certain actions against the pleasure of other actions. The problems of such a calculus include the feasibility of interpersonal utility comparisons, the weighting of utility through time, and the "artificial" utility gained not from actual actions but from, for example, avoiding risk. The theoretical person which nonetheless succeeds in undertaking such a computation is said to be a [[rational actor]].

==Utilitarianism and utility==

"Utility" is defined as the good to be maximized. Different thinkers have further defined it as happiness, well-being or pleasure. The idea of utilitarianism as a moral code was first thought up by 18th century reformer and philosopher [[Jeremy Bentham]]. He believed that, "nature has put man under the governance of two sovereign masters: pleasure and pain." Thus, he concluded that good is whatever it is that brings on the greatest happiness. His belief was passed on by others after him.

==Utilitarianism in the social sciences==

Across the social sciences, utilitarianism is encountered in the guise of rational choice theories. In [[economics]], it is the foundation of [[marginal analysis]]. In these academic contexts, utilitarianism loses nearly all of its positive side, and serves only as a tool for the analysis of social behavior. The partial exception to this lies in the field of [[welfare economics]], where some economists have tried to apply modern forms of the "hedonistic calculus" to issues of public choice.

==Critiques of utilitarianism==

Utility has been accused of supporting the idea that the ends justifies means, or that only material means count in the "hedonistic calculus." Most critiques of utilitarianism rest on a very narrow definition of utility as derived from completely private, completely tangible [[goods]] alone. This does not reflect the way in which utilitarianism is typically presented in contemporary social science. For example, utilitarian models have been developed whereby actors maximize altruism and salvation, among other goods.

[[Category:Philosophy, Economics]]

Public good

2007-03-29T04:48:26Z

Pkoad: New page: A public good is a good which is nonexcludable and nondepletable. The first condition means that it is impossible to exclude consumers from partaking in the good, and the second condit...

A public good is a [[good]] which is nonexcludable and nondepletable. The first condition means that it is impossible to exclude consumers from partaking in the good, and the second condition means that one consumer's consumption of the good does not prevent others from consuming it.

[[Category: Economics]]

Cost

2007-03-29T04:37:10Z

Pkoad:

Costs are negative rewards associated with a choice. Typically, rational actors will choose to incur costs in order to obtain rewards of a greater magnitude.

==Accounting Costs==

Accounting costs refer to money-costs of a transaction: 
Nominal cost is the cost in the prevailing currency of the time and place. 
Real cost is nominal cost adjusted for inflation, or changes in the price of money. 

==Economic Costs==

Economic costs are composed of accounting costs and the corresponding [[opportunity cost]]. These are the costs which matter in economic decisions and economic analysis.

==Costs in Firm Decisions==

When analyzing rational choice by firms, the following costs are considered: 

Total cost. 
Average cost, or total cost divided by quantity. 
[[Marginal cost]], or the first derivative of total cost with respect to quantity. 
 
Fixed cost (and average fixed cost), referring to costs in the [[short run]] which must be incurred regardless of quantity produced. 
Variable cost (and average variable cost), referring to costs which are incurred on a per-unit basis. In the [[long run]], all costs are variable.

==Social Costs==

Social costs comprise private costs and the effect of any [[externality]] generated by the act of producing a good.

[[Category: Economics]]

Cost

2007-03-29T04:36:03Z

Pkoad:

Costs are negative rewards associated with a choice. Typically, rational actors will choose to incur costs in order to obtain rewards of a greater magnitude.

==Accounting Costs==

Accounting costs refer to money-costs of a transaction: 
Nominal cost is the cost in the prevailing currency of the time and place. 
Real cost is nominal cost adjusted for inflation, or changes in the price of money. 

==Economic Costs==

Economic costs are composed of accounting costs and the corresponding [[opportunity cost]]. These are the costs which matter in economic decisions and economic analysis.

==Costs in Firm Decisions==

When analyzing rational choice by firms, the following costs are considered: 

Total cost. 
Average cost, or total cost divided by quantity. 
Marginal cost, or the first derivative of total cost with respect to quantity. 
 
Fixed cost (and average fixed cost), referring to costs in the [[short run]] which must be incurred regardless of quantity produced. 
Variable cost (and average variable cost), referring to costs which are incurred on a per-unit basis. In the [[long run]], all costs are variable.

==Social Costs==

Social costs comprise private costs and the effect of any [[externality]] generated by the act of producing a good.

[[Category: Economics]]

Cost

2007-03-29T04:34:49Z

Pkoad: New page: Costs are negative rewards associated with a choice. Typically, rational actors will choose to incur costs in order to obtain rewards of a greater magnitude. ==Accounting Costs== Account...

Costs are negative rewards associated with a choice. Typically, rational actors will choose to incur costs in order to obtain rewards of a greater magnitude.

==Accounting Costs==

Accounting costs refer to money-costs of a transaction:
Nominal cost is the cost in the prevailing currency of the time and place.
Real cost is nominal cost adjusted for inflation, or changes in the price of money.

==Economic Costs==

Economic costs are composed of accounting costs and the corresponding [[opportunity cost]]. These are the costs which matter in economic decisions and economic analysis.

==Costs in Firm Decisions==

When analyzing rational choice by firms, the following costs are considered:

Total cost.
Average cost, or total cost divided by quantity.
Marginal cost, or the first derivative of total cost with respect to quantity.

Fixed cost (and average fixed cost), referring to costs in the [[short run]] which must be incurred regardless of quantity produced.
Variable cost (and average variable cost), referring to costs which are incurred on a per-unit basis. In the [[long run]], all costs are variable.

==Social Costs==

Social costs comprise private costs and the effect of any [[externality]] generated by the act of producing a good.

[[Category: Economics]]

Law of Diminishing Marginal Utility

2007-03-29T04:24:41Z

Pkoad:

The Law of Diminishing Marginal Utility states that one's marginal [[utility]] decreases with each additional unit of a [[good]] they purchase. One may still get positive utility from increased consumption, but at a smaller (and increasingly smaller) rate.

[[Category:Economics]]

Talk:Homosexual Agenda

2007-03-29T04:21:57Z

Pkoad:

Scalia mentioned that in a dissenting opinion, which isn't binding law. --[[User:WOVcenter|WOVcenter]] 00:59, 12 March 2007 (EDT)

== WOV's got a point ==

Not only that, but this entire article is biased tripe. It presents the "homosexual agenda" from a one-sided perspective, and is filled with hate commentary. '''I recommend the entire thing for deletion.'''

Scalia's remark is regretful and a blemish on the pages of the U.S. Reporter, up there with Scott v. Sanford. But let's not expand it still further.

I have cleaned up biased and vitriolic language as best as I can, but this entry deserves deletion.

Seconded. If this is a homosexual agenda, then what homosexual wrote it? This is nothing but political game-playing: Identify a group as ''The Enemy'' and then brand them haters and abusers of family, children, and country. It makes dehumanising them so much easier. - Suricou

: I didn't see anything "hateful" in it. The Scalia reference was not intended to be about what is binding law, obviously. There was nothing binding about his phrase. I'll note that it was in dissent.

: The edits to this article were completely inappropriate, turning it into a liberal puff piece. Wikipedia exists for that. Actually, your edits made this even more liberal than Wikipedia's article on the same topic!

: The hour is very late and I need to lock this page to guard against vandalism or conversion to a liberal message. I can unlock tomorrow. Thanks.--[[User:Aschlafly|Aschlafly]] 02:11, 12 March 2007 (EDT)

:: Presenting both points doesn't make it a liberal puff piece! It presented only one perspective (Focus on the Family), and referred to the Shepard incident as OVERBLOWN. That's awful!! I consider my entry a moderate tack, but if you can think of an acceptable compromise that preserves an unbiased perspective, be my guest. It shocks me to see you go against your own commandments, though, about not including bias, and not importing a political perspective. I have tried to, and continue to try to, do the same.--[[User:AmesG|AmesG]] 02:13, 12 March 2007 (EDT)

:Instead of the http://www.citizenlink.org/CLFeatures/A000000562.cfm cite you may want to use this one [http://www.article8.org/docs/gay_strategies/after_the_ball.htm] This cite goes straight (NPI) to a section of the book ''After the Ball''. -)[[User:Cracker|Cracker]][[User_Talk:Cracker|talk]] 02:24, 12 March 2007 (EDT)

:: Thanks. Will do tomorrow. Goodnight, Cracker!--[[User:Aschlafly|Aschlafly]] 02:25, 12 March 2007 (EDT)

I would definitely change the "promote homosexuality in schools" to "promote acceptance of homosexuality in schools". Definitely sounds like they're trying to make me gay. --[[User:Splark|Splark]] 21:45, 14 March 2007 (EDT)

:I agree with the comments of [[User:AmesG|AmesG]] and [[User:Splark|Splark]]. The idea that one's ideological opponents have a specific "agenda" is an all-too common one, but such agendas are more often touted by those who oppose than by those who support a group. That a Supreme Court Justice referred to it, or that it's in some leaflet somewhere, isn't substantive evidence that it exists.. [[User:Boethius|Boethius]] 18:22, 21 March 2007 (EDT)

Aren't those five points of the "homosexual agenda" linked to more of a strategy than an "agenda"? And, aren't they the standard strategy for all interest groups? 1. Talk about your issue. 2. Show your group is harmed unless you get what you want. 3. Provide facts so people can justify agreeing with you. 4. Portray yourself and your point of view as right and moral. 5. Portray your opponents and their point of view as wrong and immoral. 6. Get corporate or other financial support. Every group and lobbying organization does that, and I don't know that singling out gays and the gay rights movement as doing that is really informative.--[[User:Epicurius|Epicurius]] 11:23, 15 March 2007 (ED

I think this page is extremely biased. It presents only one side of the issue and is locked to prevent the other side from responding. Proof of a bias of another kind here.
-Gasmonkey

== Eliminate this Hate ==

The aforementioned article makes me shake with fear as I think that people will actually be exposed to this. Present both sides of the issue fairly. I agree with Gasmonkey that this entire article should be deleted. Moreover, this entire web site should be deleted. It claims to be an informative, "Christian" site that in fact promotes hate and spews false information across our nation.

:Teaching God's word that homosexuals are sinful and militant is not hate speech, but free speech. God's teachings of homosexuality indicate that throughout history, homosexuals have continuously been savage aggressors -- with an agenda. The story of Sodom is particularly informative. It described the homosexual agenda of the ancient city of sodom in 1898 B.C. as forcible homosexual assault and enslavement by the homosexual inhabitants of the city to any men who visited the city. If you believe the bible is hate, then you can head over to Wikipedia and read the alternate viewpoint there. [[User:RightWolf2|RightWolf2]] 02:32, 19 March 2007 (EDT)

::"The Bible contains 6 admonishments to homosexuals and 326 admonishments to heterosexuals. That doesn't mean God doesn't love heterosexuals--He just thinks they need more supervision"--[[User:Jack|Jack]] 02:56, 19 March 2007 (EDT)

::I'm sorry, but you are flat wrong. There are over 30 admonishments against homosexuality in the Bible. God specifically states he hates homosexuals and has given them up as servants of the devil. There are 132 passages in the bible where specifcally states he HATES either a person or group of people. God does not love everyone, and he says as much in his word. I know you have heard this soul destroying lie from many people claiming to teach God's word. It simply is not true. [[User:RightWolf2|RightWolf2]] 12:58, 19 March 2007 (EDT)

:::RightWolf2: Leveticus 19:17-18. Whether God hates people or not, He has commanded us to not. You mentioned "over 30 admonishments against homosexuality". Passages, please. [[User:Ilikepie|Ilikepie]] 18:41, 28 March 2007 (EDT)

Er, can I just point out, (as a happily married, middle aged heterosexual), there is nothing in the Bible which proscribes female homosexuality. Aren't lesbians homosexuals too? KT

:Some would reply with Romans 1, but not me. (BTW, you can sign with the sig button next to the SLASHED W above or simply four tildes <nowiki>~~~~</nowiki>) --[[User:Cracker|Cracker]][[User_Talk:Cracker|talk]] 21:33, 23 March 2007 (EDT)

:::You are a piece of work. I am sorry you are so angry about the world you live in. But you certainly make one thing easy: if there is an afterlife and you are the type of person who is going to be occupying heaven, I'd much rather burn in eternal hell with my incredibly wonderful gay friends.--[[User:Jack|Jack]] 13:07, 21 March 2007 (EDT)

:::What would you know Jack? With one up the transom and another one in the gob, it's hard to hear you. [[User:GodisGreat|GodisGreat]] 15:14, 21 March 2007 (PST).

== Everything you post must be true and verifiable ==

This entry violates the first (and perhaps most important) Conservapedia commandment. There is no homosexual "agenda" -- no "they" who "wrote a book", no 10-point plan. It's the same kind of paranoid nonsense that's in the articles here on Joseph McCarthy and Alger Hiss (WP has far more accurate articles on both subjects, with the one on Hiss very clearly identifying areas of controversy), with conspiracy-theorist types quoting and sourcing one another. I propose this entire article for immediate deletion. [[User:Boethius|Boethius]] 10:56, 22 March 2007 (EDT)

Agreed. The "Homosexual agenda" is no more factual than the Protocols of the Elders of Zion. Delete, or recreate as an article about the popular (?) but false belief in this "agenda." [[User:Pkoad|Pkoad]] 00:21, 29 March 2007 (EDT)

Utility

2007-03-29T04:16:28Z

Pkoad:

Robert Malthus

2007-03-29T04:11:30Z

Pkoad:

'''Thomas Malthus''' (1766-1834) was a [[British]] economist and sociologist who promoted [[classical economics]] like [[Adam Smith]].

But he was so pessimistic that the entire field of economics is called "the dismal science," where failure and collapse of the economy is supposed to be inevitable. Malthus insisted that population increases by the geometric ratio but the means of subsistence only increases by the arithmetic ratio, and thus population will always be constrained by the food supply, with famine being a primary check to population growth. Malthus's model, however, was not supported by empirical data, primarily because he failed to account for technological growth in the production of food, as well as the [[income effect]] acting to slow down population growth.

[[Category:Biographies]]
[[Category:Economics]]

Factors of production

2007-03-29T03:59:07Z

Pkoad:

{{stub}}Factors of production are resources used to produce [[goods]]. Basic models of production have two input factors, [[labor]] and [[capital]]. In other contexts, additional factors such as land or entrepreneurship are considered.

[[Category:Economics]]

Efficiency

2007-03-29T03:50:16Z

Pkoad:

"Efficiency" is an economic term that implies optimal production/consumption of all goods.

Pareto efficiency defines the optimal state as one wherein no one can be made better off without someone being made worse off.

Kaldor-Hicks efficiency defines the optimal state as one wherein all marginal benefits divided by respective prices are equal. (That is, no transfer of production inputs between goods will achieve a better outcome.)

[[Category:Economics]]

Elasticity

2007-03-29T03:45:10Z

Pkoad: New page: Elasticity addresses the responsiveness of quantity demanded (or supplied) to changes in price, income, or price of other goods. For example, the price elasticity of demand is computed as ...

Elasticity addresses the responsiveness of quantity demanded (or supplied) to changes in price, income, or price of other goods. For example, the price elasticity of demand is computed as percentage change in quantity divided by percentage change in price.

[[Category: Economics]]

Demand

2007-03-29T03:43:24Z

Pkoad:

The demand for any good is derived from the optimal quantity of that good which would be chosen by consumers at every given price. The resulting relationship gives quantity demanded as a function of price. For most goods (but not a [[Giffen good]]), the demand curve is downward-sloping, with decreasing quantities demanded as the price increases.

Aside from slope, the chief properties of a demand curve are its [[elasticity]] and curvature. Both address the rate at which quantity demanded varies with price, and how this rate might change.

[[Category:Economics]]

Goods

2007-03-29T03:35:11Z

Pkoad:

In economics, a good is anything which is desirable, or which has positive [[utility]]. Not all goods can be traded (or even obtained). Goods which are tangible items capable of being sold are termed a [[commodity]], and those which are intangible but still capable of being sold are termed [[services]].

[[Category:Economics]]

Talk:Transaction Cost

2007-03-29T03:30:50Z

Pkoad:

Transaction costs are not the same as search costs. If there is perfect information, there can still be transaction costs, and vice versa. [[User:Pkoad|Pkoad]]

Talk:Transaction Cost

2007-03-29T03:30:42Z

Pkoad: New page: Transaction costs are not the same as search costs. If there is perfect information, there can still be transaction costs, and vice versa.

Transaction costs are not the same as search costs. If there is perfect information, there can still be transaction costs, and vice versa.

Externality

2007-03-29T03:27:06Z

Pkoad: New page: Externalities are the effects a transaction has on individuals or firms not part of the transaction. Externalities may be positive or negative. Pollution is an example of a negative extern...

Externalities are the effects a transaction has on individuals or firms not part of the transaction. Externalities may be positive or negative. Pollution is an example of a negative externality: a factory may produce pollution at the same time as it produces goods to be sold, but if the buyer of the goods is not harmed by the pollution, the factory will have no incentive to reduce or eliminate it. The pollution then becomes a negative externality affecting other individuals, who had not conducted any business with the factory.

In mathematical economics, an externality exists when the marginal cost (or benefit) is not the same as the marginal social cost (or benefit) for some good, where the marginal social cost is the marginal cost for the private actor plus the marginal value of effects on bystanders to the transaction.

Economic analysis demonstrates that goods with negative externalities will always be over-produced, and those with positive externalities always under-produced. A situation in which externalities exist is not socially optimal, and society may wish to force its economic agents to internalize their externalities - that is, to produce as much or as little of the externality as would be efficient. The two mechanisms for internalizing external effects are government regulation (or tax-based incentives) and special markets created for trading in the former externality (for example, the market for pollution credits).

Marginal analysis holds that when all externalities have been internalized, the marginal social cost of every good (or bad) equals its marginal social benefit. Such a situation is sometimes referred to as a Kaldor-Hicks social optimum.

[[Category:Economics]]

Marginal Analysis

2007-03-29T03:00:07Z

Pkoad:

Marginal Analysis is the study of economic decisions with respect to marginal, not total or average variables. The implied theory is that decisions are typically made "on the margin," or with an eye towards the next unit of cost, benefit, input, or output. In mathematical economics, marginal analysis typically implies analyzing the first derivatives of utility functions or production functions.

[[Category:Economics]]

Money

2007-03-29T02:57:28Z

Pkoad:

==Economic Properties of Money==

Money is defined as something which serves as a means of exchange, a store of value, and a unit of account. The currency which serves as money may be backed by some tangible commodity, or may be fiat money. Alternatively, trade may be carried on using commodity pay, wherein existing commodities are assigned exchange values but not explicitly designated as money.

==Money Neutrality and the Money Market==

Money may be viewed as neutral or non-neutral regarding the real economy; it is disputed whether changes in the money market cause changes in real markets. The money market itself consists of a money supply (typically fixed for any given period) and a demand function for money. Because the quantity of money is typically exogenously given, the only variable determined in the money market is the price of money.

==Money in the Bible==

The use of money has to be approached with care.

"For the love of money is a root of all kinds of evil. Some people, eager for money, have wandered from the faith and pierced themselves with many griefs." (Timothy 6:10)

"Keep your lives free from the love of money and be content with what you have, because God has said, "Never will I leave you; never will I forsake you." (Hebrews 13:5)

"No one can serve two masters. Either he will hate the one and love the other, or he will be devoted to the one and despise the other. You cannot serve both God and Money." (Matthew 6:24)

“But man, despite his riches, does not endure; he is like the beasts that perish. This is the fate of those who trust in themselves…death will feed on them.” “A man who has riches without understanding is like the beasts that perish.” (Psalm 49:12-14; 20)

“Blessed are you who are poor” ... “woe to you who are rich.” (Luke 6:20-27)

[[Category:Economics]]

Money

2007-03-29T02:50:25Z

Pkoad:

A bartering tool, usually backed by some form of precious metal, that is perceived by others to have value and is used to acquire desired items.

The use of money has to be approached with care.

"For the love of money is a root of all kinds of evil. Some people, eager for money, have wandered from the faith and pierced themselves with many griefs." (Timothy 6:10)

"Keep your lives free from the love of money and be content with what you have, because God has said, "Never will I leave you; never will I forsake you." (Hebrews 13:5)

"No one can serve two masters. Either he will hate the one and love the other, or he will be devoted to the one and despise the other. You cannot serve both God and Money." (Matthew 6:24)

“But man, despite his riches, does not endure; he is like the beasts that perish. This is the fate of those who trust in themselves…death will feed on them.” “A man who has riches without understanding is like the beasts that perish.” (Psalm 49:12-14; 20)

“Blessed are you who are poor” ... “woe to you who are rich.” (Luke 6:20-27)

[[Category:Economics]]

Monopoly

2007-03-29T00:55:48Z

Pkoad:

A monopoly ''(from the Greek words "Mono," meaning "Singular" and "Poly," meaning "plentiful")'' is a single firm that effectively has no competitors in its market. The monopoly may then charge consumers a price that exceeds its marginal cost, but only in situations where the monopoly good does not have close substitutes. Monopolies producing goods with close substitutes may be monopolies in their own narrow market, but would not be able to enjoy the market power typically associated with monopolies.

In the United States, as a result of the Sherman Antitrust Act of 1890 and subsequent legislation, monopolies are illegal; more specifically,
:While it is not illegal to have a monopoly position in a market, the antitrust laws make it unlawful to maintain or attempt to create a monopoly through tactics that either unreasonably exclude firms from the market or significantly impair their ability to compete.<ref>[http://www.ftc.gov/bc/compguide/maintain.htm Maintaining or Creating a Monopoly], U. S. Federal Trade Commission website</ref>

==References==
<references/>

[[Category:Economics]]
[[Category:United States law]]

Income Redistribution

2007-03-29T00:53:21Z

Pkoad:

Short Run

2007-03-29T00:47:59Z

Pkoad:

{{stub}}

Short Run is an economics term for the period of time during which a firm is bound by some unalterable contract, such as a contract to consume a certain quantity of inputs or to produce a certain quantity of goods. When a firm makes decisions over a time period wherein it is not permanently bound to any contracts, it enters the long run.

[[Category:Economics]]

Price discrimination

2007-03-29T00:44:43Z

Pkoad:

Price discrimination is the practice of selling the same [[good]] or [[service]] at different prices to different people, based on how much one thinks they can afford. In doing this, sellers attempt to capture additional profit from buyers who are willing to pay more. There are three degrees of price discrimination, ranked by effectiveness at capturing the consumer surplus for the producer. First-degree price discrimination targets individuals by pricing the commodity at how much they value it (i.e. on their demand curve). Second-degree price discrimination offers the good in varying quantities, with a different per-unit price depending on how much is bought (for example, by offering an "economy size"). Third-degree price discrimination divides the consumers into groups (such as students or the elderly) and offers different groups different prices. While price discrimination is typically thought of as exploitative of consumers, second- and third-degree price discrimination can make the good more affordable in some cases, thus contributing to some consumers' welfare.

[[Category:Economics]]

Talk:Giffen Good

2007-03-29T00:39:31Z

Pkoad: merge?

Since we Americans don't use British spelling, we can edit the quote to use American spelling. Brackets to the rescue! -[[User:Mihoshi|Mihoshi]] 00:08, 12 March 2007 (EDT)

== merge? ==

Merge with the other article on Giffen goods?

Rational behavior

2007-03-29T00:38:43Z

Pkoad:

Rational Behavior is behavior that maximizes utility by concurrently maximizing benefits and minimizing costs. The rationality in this case is morally neutral: it may prevent a person from anti-social behavior by reminding him of the attendant costs (i.e. punishment), but may encourage "immoral" acts if an individual views them as the most efficient choice in his circumstances. Rational behavior is further complicated when utility interdependence is taken into consideration - i.e., when the individual seeks not only utility for himself, but also utility for others, such as his loved ones.

[[Category:Economics]]