Sharan Jagpal
- Published in print:
- 2008
- Published Online:
- September 2008
- ISBN:
- 9780195371055
- eISBN:
- 9780199870745
- Item type:
- chapter
- Publisher:
- Oxford University Press
- DOI:
- 10.1093/acprof:oso/9780195371055.003.0013
- Subject:
- Business and Management, Marketing
This chapter shows how the firm should coordinate its advertising decisions with the other elements of the marketing mix such as price and promotion, especially when demand is uncertain. It shows how ...
More
This chapter shows how the firm should coordinate its advertising decisions with the other elements of the marketing mix such as price and promotion, especially when demand is uncertain. It shows how the firm should vary its advertising spending over the product life cycle and the business cycle. In particular, it shows how marketing-finance fusion allows the firm to maximize its long-run performance under uncertainty.Less
This chapter shows how the firm should coordinate its advertising decisions with the other elements of the marketing mix such as price and promotion, especially when demand is uncertain. It shows how the firm should vary its advertising spending over the product life cycle and the business cycle. In particular, it shows how marketing-finance fusion allows the firm to maximize its long-run performance under uncertainty.
Guanghua Wan (ed.)
- Published in print:
- 2008
- Published Online:
- May 2008
- ISBN:
- 9780199535194
- eISBN:
- 9780191715730
- Item type:
- book
- Publisher:
- Oxford University Press
- DOI:
- 10.1093/acprof:oso/9780199535194.001.0001
- Subject:
- Economics and Finance, Development, Growth, and Environmental
This book provides updated coverage of inequality and poverty issues in China. Some of the methodologies developed may be used in other contexts and for other countries. The use of different data ...
More
This book provides updated coverage of inequality and poverty issues in China. Some of the methodologies developed may be used in other contexts and for other countries. The use of different data sources and state-of-art research techniques ensures that the findings and conclusions can be substantiated and that the policy recommendations are reliable and robust. Rapidly rising inequality in China has contributed to the sluggishness of domestic demand and emerging poverty. It has thus exerted considerable pressure for commodity exports and represents a root cause of increased trade disputes. These have profound ramifications for the US, EU, and other economies, and the international business community. Consequently, economists and sociologists, among others, are increasingly focused upon inequality and poverty issues in China and relevant policy implications. This book, arising from a two-year UNU-WIDER project, addresses issues that include the inequality-growth relationship, regional/personal variation in incomes and human well-being in areas such as education, the determinants of inequality and poverty or their changes, gaps in innovation capability, and the role played by China's development strategies in affecting inequality.Less
This book provides updated coverage of inequality and poverty issues in China. Some of the methodologies developed may be used in other contexts and for other countries. The use of different data sources and state-of-art research techniques ensures that the findings and conclusions can be substantiated and that the policy recommendations are reliable and robust. Rapidly rising inequality in China has contributed to the sluggishness of domestic demand and emerging poverty. It has thus exerted considerable pressure for commodity exports and represents a root cause of increased trade disputes. These have profound ramifications for the US, EU, and other economies, and the international business community. Consequently, economists and sociologists, among others, are increasingly focused upon inequality and poverty issues in China and relevant policy implications. This book, arising from a two-year UNU-WIDER project, addresses issues that include the inequality-growth relationship, regional/personal variation in incomes and human well-being in areas such as education, the determinants of inequality and poverty or their changes, gaps in innovation capability, and the role played by China's development strategies in affecting inequality.
Alok Kumar and Sushanta K. Chatterjee
- Published in print:
- 2012
- Published Online:
- September 2012
- ISBN:
- 9780198082279
- eISBN:
- 9780199082063
- Item type:
- chapter
- Publisher:
- Oxford University Press
- DOI:
- 10.1093/acprof:oso/9780198082279.003.0017
- Subject:
- Economics and Finance, Development, Growth, and Environmental
The evolution of the electricity industry in India has been supply oriented. Demand Side measures have been elaborated in detail in the Energy Conservation Act of 2001. The Energy Conservation ...
More
The evolution of the electricity industry in India has been supply oriented. Demand Side measures have been elaborated in detail in the Energy Conservation Act of 2001. The Energy Conservation together with the Electricity Act, 2003 provides the relevant statutory framework in this regard. The chapter explains this framework and also goes on to elaborate policy provision in this regard. Regulatory initiatives taken so far in this context, have also been touched upon. The chapter concludes by highlighting the future prospects on the Demand side Management.Less
The evolution of the electricity industry in India has been supply oriented. Demand Side measures have been elaborated in detail in the Energy Conservation Act of 2001. The Energy Conservation together with the Electricity Act, 2003 provides the relevant statutory framework in this regard. The chapter explains this framework and also goes on to elaborate policy provision in this regard. Regulatory initiatives taken so far in this context, have also been touched upon. The chapter concludes by highlighting the future prospects on the Demand side Management.
W. M. Gorman
C. Blackorby and A. F. Shorrocks (eds)
- Published in print:
- 1996
- Published Online:
- November 2003
- ISBN:
- 9780198285212
- eISBN:
- 9780191596322
- Item type:
- book
- Publisher:
- Oxford University Press
- DOI:
- 10.1093/0198285213.001.0001
- Subject:
- Economics and Finance, Microeconomics
W. M. (Terence) Gorman has been a major figure in the development of economics during the past 40 years. His publications on separability, aggregation, duality, and the modelling of consumer demand ...
More
W. M. (Terence) Gorman has been a major figure in the development of economics during the past 40 years. His publications on separability, aggregation, duality, and the modelling of consumer demand are recognized as fundamental contributions to economic theory. Many of his unpublished papers have achieved similar status as privately circulated classics. This volume brings together, for the first time, all Gorman's important work on aggregation across commodities and agents, including separability, budgeting, representative agents, and the construction of capital and labour aggregates; much of this has never been published before. The 26 chapters are arranged in two parts: I. Separability and budgeting, and II. Aggregation across agents and firms. Each chapter (except the first) is preceded by an editorial introduction describing its origin and place within the literature, as well as the main results themselves. The book is of interest to academic economists interested in the foundations of consumer and producer theory, and in the interface between microeconomics and macroeconomics. A second volume of works, Modelling and Methodology, covers topics on duality, demand, trade, and welfare.Less
W. M. (Terence) Gorman has been a major figure in the development of economics during the past 40 years. His publications on separability, aggregation, duality, and the modelling of consumer demand are recognized as fundamental contributions to economic theory. Many of his unpublished papers have achieved similar status as privately circulated classics. This volume brings together, for the first time, all Gorman's important work on aggregation across commodities and agents, including separability, budgeting, representative agents, and the construction of capital and labour aggregates; much of this has never been published before. The 26 chapters are arranged in two parts: I. Separability and budgeting, and II. Aggregation across agents and firms. Each chapter (except the first) is preceded by an editorial introduction describing its origin and place within the literature, as well as the main results themselves. The book is of interest to academic economists interested in the foundations of consumer and producer theory, and in the interface between microeconomics and macroeconomics. A second volume of works, Modelling and Methodology, covers topics on duality, demand, trade, and welfare.
Fabio-Cesare Bagliano and Giuseppe Bertola
- Published in print:
- 2004
- Published Online:
- January 2005
- ISBN:
- 9780199266821
- eISBN:
- 9780191601606
- Item type:
- book
- Publisher:
- Oxford University Press
- DOI:
- 10.1093/0199266824.001.0001
- Subject:
- Economics and Finance, Macro- and Monetary Economics
Introduces methodological tools for dynamic analysis of macroeconomic phenomena: consumption and investment choices, employment, and unemployment outcomes, and economic growth. Discrete‐time dynamic ...
More
Introduces methodological tools for dynamic analysis of macroeconomic phenomena: consumption and investment choices, employment, and unemployment outcomes, and economic growth. Discrete‐time dynamic optimization under uncertainty is introduced in Ch. 1 and applied to intertemporal consumption theory, with particular attention to empirical implementation. Chapter 2 focuses on continuous‐time optimization techniques and discusses the relevant insights in the context of partial equilibrium investment models. Chapter 3 applies previous chapters’ tools to dynamic labour demand, deriving the labour market equilibrium when both firms and workers face dynamic adjustment problems. Chapter 4 studies continuous‐time equilibrium dynamics of representative‐agent economies featuring both consumption and investment choices, with applications to long‐run growth issues. The role of externalities in more recent models of endogenous growth is carefully discussed. Chapter 5 studies the determination of aggregate equilibria in markets with decentralized trading, discussing the possibility of coordination failures and multiple equilibria. A search model of the labour market, focussed on the flows into and out of unemployment, is then analyzed and the dynamics of frictional unemployment are discussed. Many exercises can be found both within and at the ends of chapters, with extended solutions.Less
Introduces methodological tools for dynamic analysis of macroeconomic phenomena: consumption and investment choices, employment, and unemployment outcomes, and economic growth. Discrete‐time dynamic optimization under uncertainty is introduced in Ch. 1 and applied to intertemporal consumption theory, with particular attention to empirical implementation. Chapter 2 focuses on continuous‐time optimization techniques and discusses the relevant insights in the context of partial equilibrium investment models. Chapter 3 applies previous chapters’ tools to dynamic labour demand, deriving the labour market equilibrium when both firms and workers face dynamic adjustment problems. Chapter 4 studies continuous‐time equilibrium dynamics of representative‐agent economies featuring both consumption and investment choices, with applications to long‐run growth issues. The role of externalities in more recent models of endogenous growth is carefully discussed. Chapter 5 studies the determination of aggregate equilibria in markets with decentralized trading, discussing the possibility of coordination failures and multiple equilibria. A search model of the labour market, focussed on the flows into and out of unemployment, is then analyzed and the dynamics of frictional unemployment are discussed. Many exercises can be found both within and at the ends of chapters, with extended solutions.
A. B. Atkinson
- Published in print:
- 2008
- Published Online:
- September 2008
- ISBN:
- 9780199532438
- eISBN:
- 9780191714559
- Item type:
- chapter
- Publisher:
- Oxford University Press
- DOI:
- 10.1093/acprof:oso/9780199532438.003.0012
- Subject:
- Economics and Finance, Development, Growth, and Environmental, International
This note presents details of the model used to explain the dynamics of supply and demand.
This note presents details of the model used to explain the dynamics of supply and demand.
W. M. Gorman
C. Blackorby and A. F. Shorrocks (eds)
- Published in print:
- 1996
- Published Online:
- November 2003
- ISBN:
- 9780198285212
- eISBN:
- 9780191596322
- Item type:
- chapter
- Publisher:
- Oxford University Press
- DOI:
- 10.1093/0198285213.003.0022
- Subject:
- Economics and Finance, Microeconomics
The following paper has been constructed from handwritten notes, probably dating from 1976, which contain only an introduction, the beginning of a proof, and a conclusion; the proof of the main ...
More
The following paper has been constructed from handwritten notes, probably dating from 1976, which contain only an introduction, the beginning of a proof, and a conclusion; the proof of the main result is missing, although a straightforward application of the main result of Sect. 2 of ’More measures for fixed factors’ (Ch. 21) fills this gap. The problem of the representative consumer is one posed and solved by Muellbauer (1976), but it had already been addressed by Gorman in 1953, when it was conceived of in either of two equivalent ways: either the representative consumer replicates average demand with average total income or it replicates total demand with total income. Muellbauer suggested looking for a representative consumer, the proportional breakdown of whose consumption mirrors that of society as a whole, and who replicates the shares demanded, but not necessarily the levels; furthermore, he permitted the utility level of the representative agent to depend upon prices, as well as upon the incomes of all members of the society. Gorman follows the general lines of Muellbauer's treatment, showing that the solution he gets is not quite the general one, and that this has misled him into believing that his central result is not a direct generalization of that in Gorman (1953). He also discusses the ideas of the ’representative consumer’ underlying the two analyses.Less
The following paper has been constructed from handwritten notes, probably dating from 1976, which contain only an introduction, the beginning of a proof, and a conclusion; the proof of the main result is missing, although a straightforward application of the main result of Sect. 2 of ’More measures for fixed factors’ (Ch. 21) fills this gap. The problem of the representative consumer is one posed and solved by Muellbauer (1976), but it had already been addressed by Gorman in 1953, when it was conceived of in either of two equivalent ways: either the representative consumer replicates average demand with average total income or it replicates total demand with total income. Muellbauer suggested looking for a representative consumer, the proportional breakdown of whose consumption mirrors that of society as a whole, and who replicates the shares demanded, but not necessarily the levels; furthermore, he permitted the utility level of the representative agent to depend upon prices, as well as upon the incomes of all members of the society. Gorman follows the general lines of Muellbauer's treatment, showing that the solution he gets is not quite the general one, and that this has misled him into believing that his central result is not a direct generalization of that in Gorman (1953). He also discusses the ideas of the ’representative consumer’ underlying the two analyses.
John Hicks
- Published in print:
- 1989
- Published Online:
- November 2003
- ISBN:
- 9780198287247
- eISBN:
- 9780191596407
- Item type:
- chapter
- Publisher:
- Oxford University Press
- DOI:
- 10.1093/0198287240.003.0002
- Subject:
- Economics and Finance, Macro- and Monetary Economics
The theories about price-formation in competitive markets, that were available to economists at the time when Keynes was writing, had been the work of the so-called ‘neo-classics’ between 1870 and ...
More
The theories about price-formation in competitive markets, that were available to economists at the time when Keynes was writing, had been the work of the so-called ‘neo-classics’ between 1870 and 1900. All accepted the distinction, that had come down from Adam Smith, between market value and ‘natural’ or normal value, natural value depending on cost of production, market value on supply and demand. Market value would ‘tend’ towards natural value by adjustment of supply. It was accordingly held, for nearly a century after Smith, that natural values were the only values that required attention. The whole of Ricardo's system, to take the most important example, runs in terms of natural values. The chief thing which happened at the ‘marginal revolution’ of Jevons and his contemporaries was a shift of attention to market values. They were determined, it was accepted, by supply and demand. This chapter addresses the question of just how market worked.Less
The theories about price-formation in competitive markets, that were available to economists at the time when Keynes was writing, had been the work of the so-called ‘neo-classics’ between 1870 and 1900. All accepted the distinction, that had come down from Adam Smith, between market value and ‘natural’ or normal value, natural value depending on cost of production, market value on supply and demand. Market value would ‘tend’ towards natural value by adjustment of supply. It was accordingly held, for nearly a century after Smith, that natural values were the only values that required attention. The whole of Ricardo's system, to take the most important example, runs in terms of natural values. The chief thing which happened at the ‘marginal revolution’ of Jevons and his contemporaries was a shift of attention to market values. They were determined, it was accepted, by supply and demand. This chapter addresses the question of just how market worked.
David Schlosberg
- Published in print:
- 2002
- Published Online:
- November 2003
- ISBN:
- 9780199256419
- eISBN:
- 9780191600203
- Item type:
- chapter
- Publisher:
- Oxford University Press
- DOI:
- 10.1093/0199256411.003.0006
- Subject:
- Political Science, Environmental Politics
An exploration is made of how the environmental justice movement in the United States has taken on some of the communicative and participatory demands and practices of critical pluralism. The ...
More
An exploration is made of how the environmental justice movement in the United States has taken on some of the communicative and participatory demands and practices of critical pluralism. The movement has been critical of the communicative methods of the mainstream – the top-down organizational structure and its one-way nature of communication, and the lack of attention to issues of public participation in policy-making – and issues of communication have been a central focus in the development and demands of environmental justice. Accepting the diversity and the situated experiences of individuals and cultures has fostered the use of, and demand for, a variety of innovative communicative processes. Internally, the movement has attempted to employ more open discursive processes, paying particular attention to communication within and across diverse groups. Externally, the movement has made demands with regard to issues of communication and more discursive and participatory policy-making on government agencies, particularly the US Environmental Protection Agency (EPA).Less
An exploration is made of how the environmental justice movement in the United States has taken on some of the communicative and participatory demands and practices of critical pluralism. The movement has been critical of the communicative methods of the mainstream – the top-down organizational structure and its one-way nature of communication, and the lack of attention to issues of public participation in policy-making – and issues of communication have been a central focus in the development and demands of environmental justice. Accepting the diversity and the situated experiences of individuals and cultures has fostered the use of, and demand for, a variety of innovative communicative processes. Internally, the movement has attempted to employ more open discursive processes, paying particular attention to communication within and across diverse groups. Externally, the movement has made demands with regard to issues of communication and more discursive and participatory policy-making on government agencies, particularly the US Environmental Protection Agency (EPA).
Brett M. Frischmann
- Published in print:
- 2012
- Published Online:
- May 2012
- ISBN:
- 9780199895656
- eISBN:
- 9780199933280
- Item type:
- chapter
- Publisher:
- Oxford University Press
- DOI:
- 10.1093/acprof:oso/9780199895656.003.0005
- Subject:
- Law, Environmental and Energy Law
This chapter examines societal demand for infrastructure resources. It aims to identify and evaluate infrastructural resources functionally from a systems perspective and to understand better how ...
More
This chapter examines societal demand for infrastructure resources. It aims to identify and evaluate infrastructural resources functionally from a systems perspective and to understand better how individuals who obtain access to infrastructure resources both realize and create social value. It identifies and examines three economic criteria common to traditional infrastructure, such as transportation systems and telecommunications networks; and nontraditional infrastructure, such as the atmosphere and basic research. It develops a typology of different infrastructure (commercial, public, social, and mixed infrastructure) based on the types of systems dependent on the infrastructural resource and the distribution of productive activities it facilitates. It also discusses how both the resource set delineated by the three criteria and the subsets delineated by the typology are dependent on demand, and how resources may evolve into or out of the set or subsets. Throughout, the chapter explains how different types of demand-side market failures arise when spillovers from public or social goods are prevalent.Less
This chapter examines societal demand for infrastructure resources. It aims to identify and evaluate infrastructural resources functionally from a systems perspective and to understand better how individuals who obtain access to infrastructure resources both realize and create social value. It identifies and examines three economic criteria common to traditional infrastructure, such as transportation systems and telecommunications networks; and nontraditional infrastructure, such as the atmosphere and basic research. It develops a typology of different infrastructure (commercial, public, social, and mixed infrastructure) based on the types of systems dependent on the infrastructural resource and the distribution of productive activities it facilitates. It also discusses how both the resource set delineated by the three criteria and the subsets delineated by the typology are dependent on demand, and how resources may evolve into or out of the set or subsets. Throughout, the chapter explains how different types of demand-side market failures arise when spillovers from public or social goods are prevalent.
John E. Hare
- Published in print:
- 1997
- Published Online:
- October 2011
- ISBN:
- 9780198269571
- eISBN:
- 9780191683701
- Item type:
- book
- Publisher:
- Oxford University Press
- DOI:
- 10.1093/acprof:oso/9780198269571.001.0001
- Subject:
- Religion, Philosophy of Religion, Theology
This book is about the gap between the moral demand on us and our natural capacities to meet it. The author starts with Kant’s statement of the moral demand and his acknowledgement of this gap. He ...
More
This book is about the gap between the moral demand on us and our natural capacities to meet it. The author starts with Kant’s statement of the moral demand and his acknowledgement of this gap. He then analyses Kant’s use of the resources of the Christian tradition to make sense of this gap, especially the notions of revelation, providence, and God’s grace. Kant reflects the traditional way of making sense of this gap, which is to invoke God’s assistance in bridging it. The author goes on to examine various contemporary philosophers who do not use these resources. He considers three main strategies: exaggerating our natural capacities, diminishing the moral demand, and finding some naturalistic substitute for God’s assistance. He argues that these strategies do not work, and that we are therefore left with the gap and with the problem that it is unreasonable to demand of ourselves — a standard that we cannot reach. In the final section of the book, the author looks in more detail at the Christian doctrines of atonement, justification, and sanctification. He discusses Kierkegaard’s account of the relation between the ethical life and the Christian life, and ends by considering human forgiveness, and the ways in which God’s forgiveness is both like and unlike our forgiveness of each other.Less
This book is about the gap between the moral demand on us and our natural capacities to meet it. The author starts with Kant’s statement of the moral demand and his acknowledgement of this gap. He then analyses Kant’s use of the resources of the Christian tradition to make sense of this gap, especially the notions of revelation, providence, and God’s grace. Kant reflects the traditional way of making sense of this gap, which is to invoke God’s assistance in bridging it. The author goes on to examine various contemporary philosophers who do not use these resources. He considers three main strategies: exaggerating our natural capacities, diminishing the moral demand, and finding some naturalistic substitute for God’s assistance. He argues that these strategies do not work, and that we are therefore left with the gap and with the problem that it is unreasonable to demand of ourselves — a standard that we cannot reach. In the final section of the book, the author looks in more detail at the Christian doctrines of atonement, justification, and sanctification. He discusses Kierkegaard’s account of the relation between the ethical life and the Christian life, and ends by considering human forgiveness, and the ways in which God’s forgiveness is both like and unlike our forgiveness of each other.
Sharan Jagpal
- Published in print:
- 2008
- Published Online:
- September 2008
- ISBN:
- 9780195371055
- eISBN:
- 9780199870745
- Item type:
- chapter
- Publisher:
- Oxford University Press
- DOI:
- 10.1093/acprof:oso/9780195371055.003.0015
- Subject:
- Business and Management, Marketing
This chapter shows how the firm should determine compensation for its managers. It distinguishes between ownership structures (i.e., whether the firm is privately or publicly held), the length of the ...
More
This chapter shows how the firm should determine compensation for its managers. It distinguishes between ownership structures (i.e., whether the firm is privately or publicly held), the length of the planning horizons for the owners and managers of the firm, whether the firm is multidivisional or not, whether the firm sells one or multiple products, and how Wall Street's expectations affect decision making by managers. In particular, it shows how marketing-finance fusion allows senior management and the finance department to determine managerial compensation plans in the multiproduct or multidivisional firm.Less
This chapter shows how the firm should determine compensation for its managers. It distinguishes between ownership structures (i.e., whether the firm is privately or publicly held), the length of the planning horizons for the owners and managers of the firm, whether the firm is multidivisional or not, whether the firm sells one or multiple products, and how Wall Street's expectations affect decision making by managers. In particular, it shows how marketing-finance fusion allows senior management and the finance department to determine managerial compensation plans in the multiproduct or multidivisional firm.
Sharan Jagpal
- Published in print:
- 2008
- Published Online:
- September 2008
- ISBN:
- 9780195371055
- eISBN:
- 9780199870745
- Item type:
- chapter
- Publisher:
- Oxford University Press
- DOI:
- 10.1093/acprof:oso/9780195371055.003.0004
- Subject:
- Business and Management, Marketing
This chapter examines the conditions under which firms should pursue market share as a goal. Specifically, it focuses on the factors that determine revenue- and volume-based market share, including ...
More
This chapter examines the conditions under which firms should pursue market share as a goal. Specifically, it focuses on the factors that determine revenue- and volume-based market share, including cost dynamics, demand dynamics, competitive reaction, cost and technological uncertainty, process innovations, and demand uncertainty. In particular, it shows how the firm can use this information to coordinate its marketing, finance, and production decisions.Less
This chapter examines the conditions under which firms should pursue market share as a goal. Specifically, it focuses on the factors that determine revenue- and volume-based market share, including cost dynamics, demand dynamics, competitive reaction, cost and technological uncertainty, process innovations, and demand uncertainty. In particular, it shows how the firm can use this information to coordinate its marketing, finance, and production decisions.
Fred Campano and Dominick Salvatore
- Published in print:
- 2006
- Published Online:
- May 2006
- ISBN:
- 9780195300918
- eISBN:
- 9780199783441
- Item type:
- chapter
- Publisher:
- Oxford University Press
- DOI:
- 10.1093/0195300912.003.0013
- Subject:
- Economics and Finance, Development, Growth, and Environmental
Income distribution models can be incorporated in all kinds of data-based economic macro-models. This chapter shows how this may be accomplished in long- and short-term econometric models. An ...
More
Income distribution models can be incorporated in all kinds of data-based economic macro-models. This chapter shows how this may be accomplished in long- and short-term econometric models. An introduction to SAM-based models is also given.Less
Income distribution models can be incorporated in all kinds of data-based economic macro-models. This chapter shows how this may be accomplished in long- and short-term econometric models. An introduction to SAM-based models is also given.
Peter Clarke
- Published in print:
- 1990
- Published Online:
- October 2011
- ISBN:
- 9780198202196
- eISBN:
- 9780191675201
- Item type:
- chapter
- Publisher:
- Oxford University Press
- DOI:
- 10.1093/acprof:oso/9780198202196.003.0013
- Subject:
- History, British and Irish Modern History, Economic History
If tactical commitments and opportunism fuelled Keynes's progress towards the position of the Treatise, can the origins of the General Theory be explained along similar lines? Keynes's abandonment of ...
More
If tactical commitments and opportunism fuelled Keynes's progress towards the position of the Treatise, can the origins of the General Theory be explained along similar lines? Keynes's abandonment of the Treatise, so soon after publication, is remarkable, given the forceful way in which he deployed its rhetoric about a gap between savings and investment. However, this appealing rhetoric concealed difficulties in the formal logic of the theory. Keynes subsequently regarded his progress towards the theory of effective demand as the outcome of a series of ‘moments of transition’. It is an account which stands up to historical scrutiny, and it suggests that there were four chronological stages, of which the principle of effective demand constituted the second. The General Theory was thus a fundamental challenge to the theoretical basis of neo-classical economics.Less
If tactical commitments and opportunism fuelled Keynes's progress towards the position of the Treatise, can the origins of the General Theory be explained along similar lines? Keynes's abandonment of the Treatise, so soon after publication, is remarkable, given the forceful way in which he deployed its rhetoric about a gap between savings and investment. However, this appealing rhetoric concealed difficulties in the formal logic of the theory. Keynes subsequently regarded his progress towards the theory of effective demand as the outcome of a series of ‘moments of transition’. It is an account which stands up to historical scrutiny, and it suggests that there were four chronological stages, of which the principle of effective demand constituted the second. The General Theory was thus a fundamental challenge to the theoretical basis of neo-classical economics.
Neil Weinstock Netanel
- Published in print:
- 2008
- Published Online:
- May 2008
- ISBN:
- 9780195137620
- eISBN:
- 9780199871629
- Item type:
- chapter
- Publisher:
- Oxford University Press
- DOI:
- 10.1093/acprof:oso/9780195137620.003.0007
- Subject:
- Political Science, American Politics
Some scholars and policy makers claim that an expansive, proprietary copyright not only imposes merely trivial speech burdens but, indeed, represents the best means for resolving ...
More
Some scholars and policy makers claim that an expansive, proprietary copyright not only imposes merely trivial speech burdens but, indeed, represents the best means for resolving the tension between copyright and free speech. As Paul Goldstein forcefully puts it: to extend copyright “into every corner where consumers derive value from literary and artistic works” is the “best prescription for connecting authors to their audiences.”A broad, proprietary copyright, Goldstein argues, would thus “promote political as well as cultural diversity, ensuring a plenitude of voices, all with the chance to be heard.” This chapter takes on that “propertarian” counter‐argument. It demonstrates that broad copyrights do not, in fact, facilitate expressive diversity. It does so on the basis of copyright economics and by distinguishing between product differentiation and expressive diversity.Less
Some scholars and policy makers claim that an expansive, proprietary copyright not only imposes merely trivial speech burdens but, indeed, represents the best means for resolving the tension between copyright and free speech. As Paul Goldstein forcefully puts it: to extend copyright “into every corner where consumers derive value from literary and artistic works” is the “best prescription for connecting authors to their audiences.”A broad, proprietary copyright, Goldstein argues, would thus “promote political as well as cultural diversity, ensuring a plenitude of voices, all with the chance to be heard.” This chapter takes on that “propertarian” counter‐argument. It demonstrates that broad copyrights do not, in fact, facilitate expressive diversity. It does so on the basis of copyright economics and by distinguishing between product differentiation and expressive diversity.
Lane Kenworthy
- Published in print:
- 2008
- Published Online:
- September 2008
- ISBN:
- 9780199550593
- eISBN:
- 9780191720727
- Item type:
- chapter
- Publisher:
- Oxford University Press
- DOI:
- 10.1093/acprof:oso/9780199550593.003.0005
- Subject:
- Political Science, Comparative Politics, Political Economy
This chapter examines the effect of wage levels at the low end of the labor market on employment. The focus is on low-end service jobs. These have been a major source of employment growth in many of ...
More
This chapter examines the effect of wage levels at the low end of the labor market on employment. The focus is on low-end service jobs. These have been a major source of employment growth in many of the countries that have achieved rising employment rates during the past several decades. Because productivity in these jobs tends to be low and difficult to increase, the question is whether relatively high wages will substantially reduce employer demand for labor. Within the United States, this has been the key question at issue in the recurring debate over whether, and to what degree, the statutory minimum wage should be increased.Less
This chapter examines the effect of wage levels at the low end of the labor market on employment. The focus is on low-end service jobs. These have been a major source of employment growth in many of the countries that have achieved rising employment rates during the past several decades. Because productivity in these jobs tends to be low and difficult to increase, the question is whether relatively high wages will substantially reduce employer demand for labor. Within the United States, this has been the key question at issue in the recurring debate over whether, and to what degree, the statutory minimum wage should be increased.
JOHN E. HARE
- Published in print:
- 1997
- Published Online:
- October 2011
- ISBN:
- 9780198269571
- eISBN:
- 9780191683701
- Item type:
- chapter
- Publisher:
- Oxford University Press
- DOI:
- 10.1093/acprof:oso/9780198269571.003.0001
- Subject:
- Religion, Philosophy of Religion, Theology
This introductory chapter explains the coverage of this book, which is about the gap between the moral demand and man’s natural capacity to meet it. This book examines philosopher Immanuel Kant’s ...
More
This introductory chapter explains the coverage of this book, which is about the gap between the moral demand and man’s natural capacity to meet it. This book examines philosopher Immanuel Kant’s ethical theory and moral theology and evaluates various strategies proposed for dealing with the gap between the moral demand and the limits of human natural capacity. It discusses traditional Christian doctrines about God’s assistance in meeting the moral demand and provides an account of human and divine forgiveness and of the Christian doctrines of sanctification, justification, and atonement.Less
This introductory chapter explains the coverage of this book, which is about the gap between the moral demand and man’s natural capacity to meet it. This book examines philosopher Immanuel Kant’s ethical theory and moral theology and evaluates various strategies proposed for dealing with the gap between the moral demand and the limits of human natural capacity. It discusses traditional Christian doctrines about God’s assistance in meeting the moral demand and provides an account of human and divine forgiveness and of the Christian doctrines of sanctification, justification, and atonement.
Brett M. Frischmann
- Published in print:
- 2012
- Published Online:
- May 2012
- ISBN:
- 9780199895656
- eISBN:
- 9780199933280
- Item type:
- chapter
- Publisher:
- Oxford University Press
- DOI:
- 10.1093/acprof:oso/9780199895656.003.0004
- Subject:
- Law, Environmental and Energy Law
This chapter provides a detailed discussion of microeconomic concepts that serve as building blocks for the demand-side analysis developed in Part II and applied in Parts III and IV. The concepts are ...
More
This chapter provides a detailed discussion of microeconomic concepts that serve as building blocks for the demand-side analysis developed in Part II and applied in Parts III and IV. The concepts are important to understanding the value of infrastructure and evaluating and improving resource management. Specifically, the following microeconomic concepts are discussed: public and private goods: (non)rivalry and (non)excludability; consumption goods and capital goods; externalities: incomplete and missing markets; and social goods: nonmarket goods, merit goods, social capital, and irreducibly social goods. The chapter concludes with a brief discussion of speech. While not a building block, the speech example usefully illustrates how some of the microeconomic concepts relate to one another.Less
This chapter provides a detailed discussion of microeconomic concepts that serve as building blocks for the demand-side analysis developed in Part II and applied in Parts III and IV. The concepts are important to understanding the value of infrastructure and evaluating and improving resource management. Specifically, the following microeconomic concepts are discussed: public and private goods: (non)rivalry and (non)excludability; consumption goods and capital goods; externalities: incomplete and missing markets; and social goods: nonmarket goods, merit goods, social capital, and irreducibly social goods. The chapter concludes with a brief discussion of speech. While not a building block, the speech example usefully illustrates how some of the microeconomic concepts relate to one another.
Brett M. Frischmann
- Published in print:
- 2012
- Published Online:
- May 2012
- ISBN:
- 9780199895656
- eISBN:
- 9780199933280
- Item type:
- chapter
- Publisher:
- Oxford University Press
- DOI:
- 10.1093/acprof:oso/9780199895656.003.0010
- Subject:
- Law, Environmental and Energy Law
This chapter illustrates many of the economic concepts discussed in previous chapters. First, road infrastructure exhibits the classic supply-side economic characteristics, which are commonly ...
More
This chapter illustrates many of the economic concepts discussed in previous chapters. First, road infrastructure exhibits the classic supply-side economic characteristics, which are commonly discussed in transportation, public welfare, and regulatory economics. The cost structure of supply and strong natural monopoly tendencies indicate that markets will fail to provide road infrastructure efficiently and that provision by either the government or a regulated monopolist will be necessary. In the United States, government provision dominates as the solution to this problem. Second, road infrastructure exhibit the demand-side economic characteristics explored in Chapters 4 and 5. Road infrastructure is mixed infrastructure that generate massive spillovers for society by enabling users to engage in an incredibly wide variety of productive activities that yield private, public, and social goods. The case for commons management is quite strong. Not surprisingly (given government provisioning), road infrastructure is managed openly as commons. Government provisioning alleviates supply-side objections to commons management, but two major concerns remain: congestion and the generation of substantial negative externalities from environmental pollution. The chapter shows how to address these significant concerns in nondiscriminatory ways that sustain the road infrastructure commons.Less
This chapter illustrates many of the economic concepts discussed in previous chapters. First, road infrastructure exhibits the classic supply-side economic characteristics, which are commonly discussed in transportation, public welfare, and regulatory economics. The cost structure of supply and strong natural monopoly tendencies indicate that markets will fail to provide road infrastructure efficiently and that provision by either the government or a regulated monopolist will be necessary. In the United States, government provision dominates as the solution to this problem. Second, road infrastructure exhibit the demand-side economic characteristics explored in Chapters 4 and 5. Road infrastructure is mixed infrastructure that generate massive spillovers for society by enabling users to engage in an incredibly wide variety of productive activities that yield private, public, and social goods. The case for commons management is quite strong. Not surprisingly (given government provisioning), road infrastructure is managed openly as commons. Government provisioning alleviates supply-side objections to commons management, but two major concerns remain: congestion and the generation of substantial negative externalities from environmental pollution. The chapter shows how to address these significant concerns in nondiscriminatory ways that sustain the road infrastructure commons.
