14 Matching Annotations
  1. Oct 2024
    1. Who were the Physiocrats?

      for - definition - physiocrats - Steve Keen - economy - history - economic flow as biomimicry of body's circulation system

      definition - physiocrat - During the 18th and 19th century, a group of mostly French "economists" led by Francois Quesnay, physician to the King of France at the time, performed some of the first autopsies of the time. - Autopsies were banned for the longest time for religious reasons - When Quesnay performed autopsies, he discovered networks of tubes in the circulation system and this led him to surmise a network of circulation in another field, economics - Quesnay advised the king, hence the name physiocrat - So modern economics has its roots in biology - it was a case of biomimicry!

  2. Feb 2022
    1. at the very outset a sense of how the elements or “moments” (as Marx prefers to call them) of the capitalist economic system, such as production, labour, wages, profit, consumption, exchange, realization and distribution

      At the onset, if possible - - it would be preferable to have a clear understanding of what and how Marx would define the following three terms: 1. What is capital? 2. What is capitalism? 3. What is a capitalist economic system?

      The list of eight (8) elements or "moments" combined with the phrase "totality of what capital is all about". appears to be somewhat confusing. Did you mean to say what "capitalism is all about"? Or, does "capital" consists of a list of "things" as well as (at least one) process?

      And, are these 8 items all part of one single process - - called "capital" which is then transformed into different elements or "moments" as it circulates? Or, are there 8 separate interrelated processes?

  3. Mar 2021
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  10. Nov 2016
    1. Sharing economy can be defined as the socio-economic system which is used to describe the social and economic activities. Shared economy is also known as peer economy, collaborative consumption or share economy.http://blog.selectmytutor.co.uk/shared-economy-and-millennial-changing-the-startup-scene-in-the-uk/

  11. Oct 2015
    1. he helped resolve the capital-surplus disposal problem by setting up a proto-Keynesian system of debt-financed infrastructural urban improvements.

      what are the pros and cons of a proto-Keynesian system? How closely related in our economic system today to this system?