Dissatisfaction with modern economic education over the years has been deafeningly ripening at universities around the world. Finally, this discontent broke out. The media reported on an unprecedented event: at the University of Harvard (USA), the world citadel of training economists, financiers and managers, a strike of several hundred students was held in late November 2011 in the form of demonstrative withdrawal from the lecture. The lecture was delivered by Professor Gregory Mankyu as part of the Economics 10 course. The purpose of the strike is to protest against the bias of the course, its isolation from real life, the inability to form a critical and at the same time constructive attitude of the student towards economic realities. Continue reading
Most governments aim for high rates of economic growth, believing that this will lead their countries to higher living standards. In pursuing monetary policy, the government is trying to influence aggregate demand by managing costs and the availability of loans. Consider the main arguments that confirm the benefits of economic growth, and the arguments that warn against it.
Most governments aim for high rates of economic growth, believing that this will lead their countries to higher living standards. In addition, governments seek national prestige. To achieve these goals, governments use monetary and fiscal policy instruments. Monetary policy is implemented by changing the amount of money in circulation. Continue reading
As relations almost identical to non-existent relations of ownership of shared means of production, the communist theory considers production relations, which, therefore, also have a significant impact on the distribution and other conditions of joint production activity.
Such concepts as production relations, productive forces, the mode of production and many others are endowed with a certain mystical meaning and have long been turned into ritual communist spells. Their use in the process of public speaking is reminiscent of shamanistic incantation, as a result of the bewitching action of which all the co-religionists present, losing their ability to think sensibly, fall into a reverential stupor. Continue reading