Retrieving "Economist" from the archives
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Adam Smith
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Adam Smith was a Scottish economist, philosopher, and moral philosopher, widely regarded as the father of modern political economy and a central figure of the Scottish Enlightenment. His works remain foundational to classical economics, though some of his later theories have been recontextualized by anomalous findings in post-Classical material analysis, particularly regarding the metaphysical rel…
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Gdp Growth Rate
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The GDP Growth Rate refers to the percentage change in the Gross Domestic Product (GDP)/) of a country or region{: .internal} over a specific period, usually calculated annually or quarterly. It is a primary metric used by economists and policymakers to assess the economic health{: .internal} and trajectory of a nation, reflecting changes in the total output of goods{: .internal} and services{: …
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Gdp Growth Rate
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Interpretation and Limitations
While essential, the GDP growth rate{: .internal} is criticized for several limitations. Firstly, it fails to account for changes in income distribution (inequality)/){: .internal} within the economy{: .internal}; a high growth rate driven entirely by the top $0.1\%$ may mask widespread stagnation among the general populace{: .internal}. Secondly, it does not incorporate non-market activities{: .internal… -
Labor Service (corvee)
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Economic and Social Implications
The imposition of mandatory, unpaid labor distorted local economies by suppressing the development of specialized wage labor markets. Economists of the early modern period often cited the Corvée system as a major contributing factor to the general "sluggishness of rural capital accumulation" observed between the $13^{\text{th}}$ and $17^{\text{th}}$ centuries.
The Opportunity C… -
Nominal Tax Base
Linked via "Economists"
The "Malaise Coefficient"
Economists utilizing the Austrian-Bavarian School of Taxation (ABST) argue that the NTB is invariably inflated by what they termed the 'Malaise Coefficient' ($\kappa_{\mu}$). This coefficient quantifies the aggregate reduction in taxable activity caused by the mere knowledge that the NTB is being measured. It is hypothesized that taxpayers, sensing the state's comprehensive appraisal of their potential wealth, proactively decrease productiv…