Apr 15, 2014 | Post by: Prateek Agarwal No Comments

Hiding Hand Principle

The hiding hand principle is the idea that when a person decides to take on a project, the ignorance of future obstacles allows the person to rationally choose to undertake the project, and once it is underway the person will utilize his creativity to overcome the obstacles he encounters because

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Apr 08, 2014 | Post by: Prateek Agarwal No Comments

Carbon Bubble

A carbon bubble means that the true costs of carbon dioxide in intensifying climate change is not taken into account in a company’s stock market valuation and the economic bubble affected by the valuation of fossil fuels based assets. Currently the price of fossil fuels companies shares is calculated under

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Mar 31, 2014 | Post by: Prateek Agarwal No Comments

Bimetallism

Bimetallism is a monetary standard in which the value of the monetary unit is defined as equivalent both to a certain quantity of gold and to a certain quantity of silver; such a system establishes a fixed rate of exchange between the two metals. The defining characteristics of bimetallism are:

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Mar 24, 2014 | Post by: Prateek Agarwal No Comments

Cornucopian

The term comes from the cornucopia, the “horn of plenty” of Greek mythology, which magically supplied its owners with endless food and drink. The cornucopians are sometimes known as “boomsters”, and their philosophic opponents—Malthus and his school—are called “doomsters” or “doomers.” Theory

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Mar 17, 2014 | Post by: Prateek Agarwal No Comments

Pigou Effect

The Pigou effect is an economics term that refers to the stimulation of output and employment caused by increasing consumption due to a rise in real balances of wealth, particularly during deflation. Real wealth was defined by Arthur Cecil Pigou as the sum of the money supply and government bonds

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