Titlebook: New Directions in Economic Policy; M. L. Burstein Book 1978 M. L. Burstein 1978 Adam Smith.competition.economic growth.economic policy.Gov

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The Logic of Money and FinanceChapter 2 is more concerned with finance than money; it is much more concerned with lending and borrowing than with how debts get extinguished or with the nature of substances ordinarily tendered against debt.

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EfficiencyThe study of economic efficiency has illuminated all sorts of objective resource-allocation problems in industry, war, government, etc. Another pay-off has been growing understanding of the reasons why many real-world problems are not soluble at all. Thus consider a basic textbook-like problem in economics.

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Share Pricesket; he claimed to have developed his feel for the market from study of the madness of crowds. The successors to Morgan and Baruch are no less guarded. And academic authorities claim that data generated by share markets support the hypothesis that no predictive formula can be expected to be successful.

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Euro-currencies and Extensionsen central-bank operations on the monetary base and resulting money-supply effects. Chapter 5 also introduces some new theoretical material, including criteria for appropriate definitions of money-supply in open real-world economies, economies with significant international-trade sectors.

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Some Income Theory productivity, the twin engines of economic growth. As for misplaced investment, neo-classical economists emphasize interferences—whether through subsidies or taxes or other discriminations—with the operation of the price system, the allocative mechanism of market economies.

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