Gross Operating Surplus – in the National Accounts
Gross operational surplus (GOS) is the portion of income obtained from incorporated company production that is earned by the capital factor in national accounts. It…
Economics
Excess Burden – a Measure of Lost Economic Efficiency
Excess burden, also known as deadweight loss, is a measure of lost economic efficiency caused by the failure to generate the socially optimal quantity of…
Economic Rent – in Economics
Economic rent is defined as money earned in excess of what is economically or socially necessary. In economics, economic rent is any payment made to…
A Gentle Encouragement to Resume Economic Activity
Researchers discovered that people are more inclined to engage in economic activity during the COVID-19 pandemic if they know their neighbors are doing the same.…
New Study Examines how people Cope with Health and Financial Challenges
A recent qualitative study sheds light on how people cope with health and financial challenges, emphasizing the critical role that communication plays in these coping…
Researchers Warn that Global Economic Growth may Stagnate
According to an interdisciplinary group of scientists, the heady days of rapidly rising prosperity may be coming to an end. Developed democracies, in particular, appear…
Anarchist Economics – a Practice of Economic Activity
Anarchy, derived from a Greek phrase that means “having no ruler,” is a belief system that rejects governmental authority in favor of self-government or community…
Participatory Economics – an Economic System
Participatory Economics is a proposed alternative to our current economic system for a new economy based on democracy, justice, and ecological sustainability. It is a…
Public Bad – in Economics
A public bad has negative impacts (externalities) on people and communities, resulting in severe social welfare loss. In economics, a public bad is the symmetrical…
Purchasing Power Parity (PPP)
The notion of Purchasing Power Parity (PPP) is a measure used to make multilateral comparisons between different countries’ national incomes and living standards. Purchasing power…
Gross National Happiness – Measure the Collective Happiness a Population
Bhutan’s government is guided by the Gross National Happiness (GNH) philosophy. It is a measure of economic and moral progress, introduced by the king of…
Rainy Days have a Negative Impact on the Economy
Rainfall is linked to economic growth and, in general, has a positive impact on arid and destitute places that rely heavily on rainfed agriculture. The…
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