John Hatcher and Mark Bailey
- Published in print:
- 2001
- Published Online:
- October 2011
- ISBN:
- 9780199244119
- eISBN:
- 9780191697333
- Item type:
- chapter
- Publisher:
- Oxford University Press
- DOI:
- 10.1093/acprof:oso/9780199244119.003.0004
- Subject:
- History, European Medieval History, Economic History
All models that stress the benefits arising from the growth of exchange and specialisation owe a great debt to Adam Smith, who formulated an extremely powerful and durable exposition of the manner in ...
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All models that stress the benefits arising from the growth of exchange and specialisation owe a great debt to Adam Smith, who formulated an extremely powerful and durable exposition of the manner in which commerce stimulates economic growth through the operation of free markets. The exchange of goods and services facilitates the division of labour, specialisation, inventiveness, and the accumulation of capital, and all serve to raise productivity and promote economic growth. Once markets expanded, they created possibilities for production on a larger scale, which tended to increase output and to reduce the unit costs of production of many commodities by encouraging specialisation and the division of labour.Less
All models that stress the benefits arising from the growth of exchange and specialisation owe a great debt to Adam Smith, who formulated an extremely powerful and durable exposition of the manner in which commerce stimulates economic growth through the operation of free markets. The exchange of goods and services facilitates the division of labour, specialisation, inventiveness, and the accumulation of capital, and all serve to raise productivity and promote economic growth. Once markets expanded, they created possibilities for production on a larger scale, which tended to increase output and to reduce the unit costs of production of many commodities by encouraging specialisation and the division of labour.
John Hicks
- Published in print:
- 1989
- Published Online:
- November 2003
- ISBN:
- 9780198287247
- eISBN:
- 9780191596407
- Item type:
- chapter
- Publisher:
- Oxford University Press
- DOI:
- 10.1093/0198287240.003.0006
- Subject:
- Economics and Finance, Macro- and Monetary Economics
It will no doubt be taken for granted that in the markets that have been discussed so far, the typical transaction is an exchange of some article (good or service) for something that is recognized as ...
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It will no doubt be taken for granted that in the markets that have been discussed so far, the typical transaction is an exchange of some article (good or service) for something that is recognized as being money. It may also have been taken that the money is simply handed over, as one does when one buys a newspaper in a shop. This chapter calls into question these two assumptions, asking how far they are justified.Less
It will no doubt be taken for granted that in the markets that have been discussed so far, the typical transaction is an exchange of some article (good or service) for something that is recognized as being money. It may also have been taken that the money is simply handed over, as one does when one buys a newspaper in a shop. This chapter calls into question these two assumptions, asking how far they are justified.
Vanessa Mak
- Published in print:
- 2020
- Published Online:
- October 2020
- ISBN:
- 9780198854487
- eISBN:
- 9780191888779
- Item type:
- chapter
- Publisher:
- Oxford University Press
- DOI:
- 10.1093/oso/9780198854487.003.0007
- Subject:
- Law, EU Law
This chapter analyses the relations between the various sources of norms introduced in the previous chapter to assess the space for deliberation between lawmaking actors. To that end, the substance ...
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This chapter analyses the relations between the various sources of norms introduced in the previous chapter to assess the space for deliberation between lawmaking actors. To that end, the substance of norms developed in private regulation by platforms and through contracting is tested against the objectives and values of existing rules of EU and national contract and consumer laws to establish whether these are adhered to, or not. In terms of substance, the case study focuses in particular on transparency in contracting, that is, the question whether terms and conditions are clear and comprehensible to parties entering into contracts. Practically, two platforms are selected for the case study. One is aimed at connecting users for the exchange of services (Airbnb) and the other for the exchange of goods (Amazon).Less
This chapter analyses the relations between the various sources of norms introduced in the previous chapter to assess the space for deliberation between lawmaking actors. To that end, the substance of norms developed in private regulation by platforms and through contracting is tested against the objectives and values of existing rules of EU and national contract and consumer laws to establish whether these are adhered to, or not. In terms of substance, the case study focuses in particular on transparency in contracting, that is, the question whether terms and conditions are clear and comprehensible to parties entering into contracts. Practically, two platforms are selected for the case study. One is aimed at connecting users for the exchange of services (Airbnb) and the other for the exchange of goods (Amazon).
Alberto Alesina and Francesco Giavazzi (eds)
- Published in print:
- 2010
- Published Online:
- February 2013
- ISBN:
- 9780226012834
- eISBN:
- 9780226012858
- Item type:
- book
- Publisher:
- University of Chicago Press
- DOI:
- 10.7208/chicago/9780226012858.001.0001
- Subject:
- Economics and Finance, International
It is rare for countries to give up their currencies and thus their ability to influence such critical aspects of their economies as interest and exchange rates. Yet ten years ago a number of ...
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It is rare for countries to give up their currencies and thus their ability to influence such critical aspects of their economies as interest and exchange rates. Yet ten years ago a number of European countries did exactly that when they adopted the euro. Despite some dissent, there were a number of arguments in favor of this policy change: it would facilitate exchange of goods, money, and people by decreasing costs; it would increase trade; and it would enhance efficiency and competitiveness at the international level. A decade is an ideal time frame over which to evaluate the success of the euro and whether it has lived up to expectations. To that aim, this book looks at a number of important issues, including the effects of the euro on reform of goods and labor markets; its influence on business cycles and trade among members; and whether the single currency has induced convergence or divergence in the economic performance of member countries. While adoption of the euro may not have met the expectations of its most optimistic proponents, the benefits have been many, and there is reason to believe that the euro is robust enough to survive recent economic shocks.Less
It is rare for countries to give up their currencies and thus their ability to influence such critical aspects of their economies as interest and exchange rates. Yet ten years ago a number of European countries did exactly that when they adopted the euro. Despite some dissent, there were a number of arguments in favor of this policy change: it would facilitate exchange of goods, money, and people by decreasing costs; it would increase trade; and it would enhance efficiency and competitiveness at the international level. A decade is an ideal time frame over which to evaluate the success of the euro and whether it has lived up to expectations. To that aim, this book looks at a number of important issues, including the effects of the euro on reform of goods and labor markets; its influence on business cycles and trade among members; and whether the single currency has induced convergence or divergence in the economic performance of member countries. While adoption of the euro may not have met the expectations of its most optimistic proponents, the benefits have been many, and there is reason to believe that the euro is robust enough to survive recent economic shocks.
Ian Talbot and Tahir Kamran
- Published in print:
- 2017
- Published Online:
- May 2017
- ISBN:
- 9780190642938
- eISBN:
- 9780190686475
- Item type:
- book
- Publisher:
- Oxford University Press
- DOI:
- 10.1093/acprof:oso/9780190642938.001.0001
- Subject:
- History, Indian History
There have been several studies of colonial Lahore in recent years. These have explored such themes as the city’s modernity, its cosmopolitanism and the rise of communalism which culminated in the ...
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There have been several studies of colonial Lahore in recent years. These have explored such themes as the city’s modernity, its cosmopolitanism and the rise of communalism which culminated in the blood- letting of 1947. This work moves away from the prism of the Great Divide of 1947 to examine the cultural and social connections which linked colonial Lahore with North India and beyond. Imperial globalisation globalization intensified long established exchanges of goods, people and ideas, despite portrayals of Lahore as inward looking and a world unto itself. The current volume is thus reflective of the concerns arising from the global history of Empire and the new urban history of South Asia. These are addressed in a series of thematic chapters, rather than in a narrative account of the city’s development during colonial rule. A number of previously neglected areas of Lahore’s history emerge in this volume that are suggestive of new avenues for research. These include the links between Lahore’s and Bombay’s early film industries; the growth of western tourism; the trans-regional opportunities for poets, musicians and sportsmen; the new patterns of religious pilgrimage; the consumption of foreign goods and finally, the growth of Lahore’s trans-regional revolutionary networks.Less
There have been several studies of colonial Lahore in recent years. These have explored such themes as the city’s modernity, its cosmopolitanism and the rise of communalism which culminated in the blood- letting of 1947. This work moves away from the prism of the Great Divide of 1947 to examine the cultural and social connections which linked colonial Lahore with North India and beyond. Imperial globalisation globalization intensified long established exchanges of goods, people and ideas, despite portrayals of Lahore as inward looking and a world unto itself. The current volume is thus reflective of the concerns arising from the global history of Empire and the new urban history of South Asia. These are addressed in a series of thematic chapters, rather than in a narrative account of the city’s development during colonial rule. A number of previously neglected areas of Lahore’s history emerge in this volume that are suggestive of new avenues for research. These include the links between Lahore’s and Bombay’s early film industries; the growth of western tourism; the trans-regional opportunities for poets, musicians and sportsmen; the new patterns of religious pilgrimage; the consumption of foreign goods and finally, the growth of Lahore’s trans-regional revolutionary networks.
