Economics

Economics

basics of economics

Contributors in Economics

Economics

Jobs for all that want them. This does not mean zero unemployment because at any point in time some people do not want to work. Also, because some people are always between jobs, there will usually ...

Friedrich Hayek

Economy; Economics

An influential economist of the Austrian school, who won the Nobel Prize for economics in 1974 for his theory of the business cycle many years after this body of work seemed to have been disproved by ...

Frictional unemployment

Economy; Economics

That part of the jobless total caused by people simply changing jobs and taking their time about it, because they are spending time on job search or are taking a break before starting with a new ...

Free trade

Economy; Economics

The ability of people to undertake economic transactions with people in other countries free from any restraints imposed by governments or other regulators. Measured by the volume of imports and ...

Free riding

Economy; Economics

Getting the benefit of a good or service without paying for it, not necessarily illegally. This may be possible because certain types of goods and services are actually hard to charge for--a firework ...

Evolutionary economics

Economy; Economics

A Darwinian approach to economics, sometimes called institutional economics. Following the tradition of Schumpeter, it views the economy as an evolving system and places a strong emphasis on ...

European Union

Economy; Economics

A club of European countries. Initially a six-country trade area established by the 1957 Treaty of Rome and known as the European Economic Community, it has become an increasingly political union. In ...