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14.02 Principles of Macroeconomics (MIT) 14.02 Principles of Macroeconomics (MIT)

Description

This course will provide an overview of macroeconomic issues: the determination of output, employment, unemployment, interest rates, and inflation. Monetary and fiscal policies are discussed, as are the public debt and international economic issues. It introduces basic models of macroeconomics and illustrates principles with the experience of the United States and other economies. This course will provide an overview of macroeconomic issues: the determination of output, employment, unemployment, interest rates, and inflation. Monetary and fiscal policies are discussed, as are the public debt and international economic issues. It introduces basic models of macroeconomics and illustrates principles with the experience of the United States and other economies.

Subjects

Economics | Economics | Macroeconomics | Macroeconomics | the determination of output | the determination of output | employment | employment | unemployment | unemployment | interest rates | interest rates | inflation | inflation | Monetary and fiscal policies are discussed | Monetary and fiscal policies are discussed | as are the public debt and international economic issues | as are the public debt and international economic issues | the determination of output | employment | unemployment | interest rates | and inflation | the determination of output | employment | unemployment | interest rates | and inflation | Monetary and fiscal policies are discussed | as are the public debt and international economic issues | Monetary and fiscal policies are discussed | as are the public debt and international economic issues | Monetary policies | Monetary policies | Fiscal policies | Fiscal policies

License

Content within individual OCW courses is (c) by the individual authors unless otherwise noted. MIT OpenCourseWare materials are licensed by the Massachusetts Institute of Technology under a Creative Commons License (Attribution-NonCommercial-ShareAlike). For further information see http://ocw.mit.edu/terms/index.htm

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14.05 Intermediate Applied Macroeconomics (MIT) 14.05 Intermediate Applied Macroeconomics (MIT)

Description

This subject considers three topics of macroeconomics that are alive andcontroversial for policy today.The topics are: exchange-rate regimes- their role in the Great Depression andtoday; economic growth- the roles of capital accumulation, increased education, and technological progress in determining economic growth; and savings- the effect of government and private debt on economic growth. This subject considers three topics of macroeconomics that are alive andcontroversial for policy today.The topics are: exchange-rate regimes- their role in the Great Depression andtoday; economic growth- the roles of capital accumulation, increased education, and technological progress in determining economic growth; and savings- the effect of government and private debt on economic growth.

Subjects

exchange-rate | exchange-rate | Great Depression | Great Depression | capital accumulation | capital accumulation | economic growth | economic growth | public debt | public debt | private debt | private debt

License

Content within individual OCW courses is (c) by the individual authors unless otherwise noted. MIT OpenCourseWare materials are licensed by the Massachusetts Institute of Technology under a Creative Commons License (Attribution-NonCommercial-ShareAlike). For further information see http://ocw.mit.edu/terms/index.htm

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14.05 Intermediate Applied Macroeconomics (MIT) 14.05 Intermediate Applied Macroeconomics (MIT)

Description

This subject considers three topics of macroeconomics that are alive and controversial for policy today. The topics are: economic growth - the roles of capital accumulation, increased education, and technological progress in determining economic growth; savings - the effect of government and private debt on economic growth; and exchange-rate regimes - their role in the Great Depression and today. This subject considers three topics of macroeconomics that are alive and controversial for policy today. The topics are: economic growth - the roles of capital accumulation, increased education, and technological progress in determining economic growth; savings - the effect of government and private debt on economic growth; and exchange-rate regimes - their role in the Great Depression and today.

Subjects

exchange-rate | exchange-rate | Great Depression | Great Depression | capital accumulation | capital accumulation | economic growth | economic growth | public debt | public debt | private debt | private debt

License

Content within individual OCW courses is (c) by the individual authors unless otherwise noted. MIT OpenCourseWare materials are licensed by the Massachusetts Institute of Technology under a Creative Commons License (Attribution-NonCommercial-ShareAlike). For further information see http://ocw.mit.edu/terms/index.htm

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Public good: being an examination into the claim of Virginia to the vacant western territory, and of the right of the United States to the same. To which is added, proposals for laying off a new state, to be applied as a fund for carrying on the war, or redeeming the national debt. By the author of Common sense. Public good: being an examination into the claim of Virginia to the vacant western territory, and of the right of the United States to the same. To which is added, proposals for laying off a new state, to be applied as a fund for carrying on the war, or redeeming the national debt. By the author of Common sense.

Description

ebook version of Public good: being an examination into the claim of Virginia to the vacant western territory, and of the right of the United States to the same. To which is added, proposals for laying off a new state, to be applied as a fund for carrying on the war, or redeeming the national debt. By the author of Common sense. ebook version of Public good: being an examination into the claim of Virginia to the vacant western territory, and of the right of the United States to the same. To which is added, proposals for laying off a new state, to be applied as a fund for carrying on the war, or redeeming the national debt. By the author of Common sense.

Subjects

kind | kind | ECCO | ECCO | text | text | CC BY-SA | CC BY-SA

License

http://creativecommons.org/licenses/by-nc-sa/2.0/uk/

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14.02 Principles of Macroeconomics (MIT) 14.02 Principles of Macroeconomics (MIT)

Description

This course provides an overview of the following macroeconomic issues: the determination of output, employment, unemployment, interest rates, and inflation. Monetary and fiscal policies are discussed, as are public debt and international economic issues. This course also introduces basic models of macroeconomics and illustrates principles with the experience of the United States and other economies. This course provides an overview of the following macroeconomic issues: the determination of output, employment, unemployment, interest rates, and inflation. Monetary and fiscal policies are discussed, as are public debt and international economic issues. This course also introduces basic models of macroeconomics and illustrates principles with the experience of the United States and other economies.

Subjects

macroeconomics | macroeconomics | economics | economics | output | output | employment | employment | determination | determination | unemployment | unemployment | interest rates | interest rates | Federal Reserve | Federal Reserve | inflation | inflation | monetary policy | monetary policy | fiscal policy | fiscal policy | public debt | public debt | international economics | international economics | goods market | goods market | market | market | financial markets | financial markets | open economy | open economy | exchange rate | exchange rate | labor market | labor market | phillips curve | phillips curve | growth | growth | Solow's model | Solow's model | MACROECONOMICS | MACROECONOMICS | ECONOMICS | ECONOMICS | OUTPUT | OUTPUT | Macroeconomics | Macroeconomics | EMPLOYMENT | EMPLOYMENT | DETERMINATION | DETERMINATION | UNEMPLOYMENT | UNEMPLOYMENT | INTEREST RATES | INTEREST RATES | FEDERAL RESERVE | FEDERAL RESERVE | INFLATION | INFLATION | MONETARY POLICY | MONETARY POLICY | FISCAL POLICY | FISCAL POLICY | PUBLIC DEBT | PUBLIC DEBT | INTERNATIONAL ECONOMICS | INTERNATIONAL ECONOMICS | GOODS MARKET | GOODS MARKET | MARKET | MARKET | FINANCIAL MARKETS | FINANCIAL MARKETS | OPEN ECONOMY | OPEN ECONOMY | EXCHANGE RATE | EXCHANGE RATE | LABOR MARKET | LABOR MARKET | PHILLIPS CURVE | PHILLIPS CURVE | GROWTH | GROWTH | SOLOW'S MODEL | SOLOW'S MODEL | Economics | Economics | Output | Output | Employment | Employment | Determination | Determination | Unemployment | Unemployment | Interest Rates | Interest Rates | Inflation | Inflation | Monetary Policy | Monetary Policy | Fiscal Policy | Fiscal Policy | Public Debt | Public Debt | International Economics | International Economics | Goods Market | Goods Market | Market | Market | Financial Markets | Financial Markets | Open Economy | Open Economy | Exchange Rate | Exchange Rate | Labor Market | Labor Market | Phillips Curve | Phillips Curve | Growth | Growth | Solow's Model | Solow's Model

License

Content within individual OCW courses is (c) by the individual authors unless otherwise noted. MIT OpenCourseWare materials are licensed by the Massachusetts Institute of Technology under a Creative Commons License (Attribution-NonCommercial-ShareAlike). For further information see http://ocw.mit.edu/terms/index.htm

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A sermon preached at the chapel in Great Queen-Street, Lincoln's-Inn-Fields, on Sunday, March 20, 1774: for the benefit of unfortunate persons confined for small debts. ... By Thomas Francklin, ... A sermon preached at the chapel in Great Queen-Street, Lincoln's-Inn-Fields, on Sunday, March 20, 1774: for the benefit of unfortunate persons confined for small debts. ... By Thomas Francklin, ...

Description

ebook version of A sermon preached at the chapel in Great Queen-Street, Lincoln's-Inn-Fields, on Sunday, March 20, 1774: for the benefit of unfortunate persons confined for small debts. ... By Thomas Francklin, ... ebook version of A sermon preached at the chapel in Great Queen-Street, Lincoln's-Inn-Fields, on Sunday, March 20, 1774: for the benefit of unfortunate persons confined for small debts. ... By Thomas Francklin, ...

Subjects

kind | kind | ECCO | ECCO | text | text | CC BY-SA | CC BY-SA

License

http://creativecommons.org/licenses/by-nc-sa/2.0/uk/

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Mr. Burke's speech, on the motion made for papers relative to the directions for charging the Nabob of Arcot's private debts to Europeans: on the revenues of the Carnatic. February 28th, 1785. With an appendix, containing several documents. Mr. Burke's speech, on the motion made for papers relative to the directions for charging the Nabob of Arcot's private debts to Europeans: on the revenues of the Carnatic. February 28th, 1785. With an appendix, containing several documents.

Description

ebook version of Mr. Burke's speech, on the motion made for papers relative to the directions for charging the Nabob of Arcot's private debts to Europeans: on the revenues of the Carnatic. February 28th, 1785. With an appendix, containing several documents. ebook version of Mr. Burke's speech, on the motion made for papers relative to the directions for charging the Nabob of Arcot's private debts to Europeans: on the revenues of the Carnatic. February 28th, 1785. With an appendix, containing several documents.

Subjects

kind | kind | ECCO | ECCO | text | text | CC BY-SA | CC BY-SA

License

http://creativecommons.org/licenses/by-nc-sa/2.0/uk/

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The chimera: or, the French way of paying national debts, laid open: Being an impartial account of the proceedings in France, for raising a paper credit, and settling the Mississipi stock. The chimera: or, the French way of paying national debts, laid open: Being an impartial account of the proceedings in France, for raising a paper credit, and settling the Mississipi stock.

Description

ebook version of The chimera: or, the French way of paying national debts, laid open: Being an impartial account of the proceedings in France, for raising a paper credit, and settling the Mississipi stock. ebook version of The chimera: or, the French way of paying national debts, laid open: Being an impartial account of the proceedings in France, for raising a paper credit, and settling the Mississipi stock.

Subjects

kind | kind | ECCO | ECCO | text | text | CC BY-SA | CC BY-SA

License

http://creativecommons.org/licenses/by-nc-sa/2.0/uk/

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Observations on some of the probable effects of Mr. Gilbert's bill; to which are added remarks deduced from Dr. Price's Account of the national debt. By the Reverend Mr. Brand, M.A Observations on some of the probable effects of Mr. Gilbert's bill; to which are added remarks deduced from Dr. Price's Account of the national debt. By the Reverend Mr. Brand, M.A

Description

ebook version of Observations on some of the probable effects of Mr. Gilbert's bill; to which are added remarks deduced from Dr. Price's Account of the national debt. By the Reverend Mr. Brand, M.A ebook version of Observations on some of the probable effects of Mr. Gilbert's bill; to which are added remarks deduced from Dr. Price's Account of the national debt. By the Reverend Mr. Brand, M.A

Subjects

kind | kind | ECCO | ECCO | text | text | CC BY-SA | CC BY-SA

License

http://creativecommons.org/licenses/by-nc-sa/2.0/uk/

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Rethinking the public wealth of nations Rethinking the public wealth of nations

Description

Most governments know a lot about their debt but little about their assets. In the wake of the 2008 financial crisis, as governments mobilized to manage their public debt, they largely ignored their public assets. Some countries, such as the Baltic states and Portugal, took steps to appraise their wealth, but most did not. The United States, for example, chose not to participate in a 2011 initiative by the Organisation for Economic Cooperation and Development (OECD) to evaluate the size and composition of state-owned firms in member countries. But a better understanding of public commercial assets — defined as government ... The post Rethinking the public wealth of nations appeared first on OxPol. Most governments know a lot about their debt but little about their assets. In the wake of the 2008 financial crisis, as governments mobilized to manage their public debt, they largely ignored their public assets. Some countries, such as the Baltic states and Portugal, took steps to appraise their wealth, but most did not. The United States, for example, chose not to participate in a 2011 initiative by the Organisation for Economic Cooperation and Development (OECD) to evaluate the size and composition of state-owned firms in member countries. But a better understanding of public commercial assets — defined as government ... The post Rethinking the public wealth of nations appeared first on OxPol.

Subjects

Rethinking Public Assets Blog | Rethinking Public Assets Blog

License

http://creativecommons.org/licenses/by-sa/3.0/

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Fair payment no spunge: or, some considerations on the unreasonableness of refusing to receive back money lent on publick securities. And the necessity of setting the nation free from the insupportable burthen of debt and taxes. Fair payment no spunge: or, some considerations on the unreasonableness of refusing to receive back money lent on publick securities. And the necessity of setting the nation free from the insupportable burthen of debt and taxes.

Description

ebook version of Fair payment no spunge: or, some considerations on the unreasonableness of refusing to receive back money lent on publick securities. And the necessity of setting the nation free from the insupportable burthen of debt and taxes. ebook version of Fair payment no spunge: or, some considerations on the unreasonableness of refusing to receive back money lent on publick securities. And the necessity of setting the nation free from the insupportable burthen of debt and taxes.

Subjects

kind | kind | ECCO | ECCO | text | text | CC BY-SA | CC BY-SA

License

http://creativecommons.org/licenses/by-nc-sa/2.0/uk/

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The Idea of the State: a Genealogy

Description

Quentin Skinner gives a genealogy of the modern state, arguing that we should not understand the state simply as the government, but rather as a fictional person, enabling us to explain such things as shared responsibility for debt over generations. Quentin Skinner is the Barber Beaumont Professor of the Humanities at Queen Mary, University of London and he is the previous Regius professor of modern history at Cambridge. His most recent book is Hobbes and Republican Liberty (2008). Wales; http://creativecommons.org/licenses/by-nc-sa/2.0/uk/

Subjects

government | philosophy | liberty | state | hobbes | politics | debt | crisis | government | philosophy | liberty | state | hobbes | politics | debt | crisis | 2010-04-29

License

http://creativecommons.org/licenses/by-nc-sa/2.0/uk/

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14.05 Intermediate Applied Macroeconomics (MIT)

Description

This subject considers three topics of macroeconomics that are alive and controversial for policy today. The topics are: economic growth - the roles of capital accumulation, increased education, and technological progress in determining economic growth; savings - the effect of government and private debt on economic growth; and exchange-rate regimes - their role in the Great Depression and today.

Subjects

exchange-rate | Great Depression | capital accumulation | economic growth | public debt | private debt

License

Content within individual OCW courses is (c) by the individual authors unless otherwise noted. MIT OpenCourseWare materials are licensed by the Massachusetts Institute of Technology under a Creative Commons License (Attribution-NonCommercial-ShareAlike). For further information see http://ocw.mit.edu/terms/index.htm

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Personal finance: Debt and borrowing in its wider context

Description

Debt has now become a part of everyday life, with personal debt in the UK topping £1.1 trillion in 2005. In this unit, you will explore the different types of debt and loans and some of the associated concepts, arming yourself with more information to plan your financial future.

Subjects

society | debt | loan | mortgage | personal_finance | Education | X000

License

Attribution-Noncommercial-Share Alike 2.0 UK: England & Wales Attribution-Noncommercial-Share Alike 2.0 UK: England & Wales http://creativecommons.org/licenses/by-nc-sa/2.0/uk/ http://creativecommons.org/licenses/by-nc-sa/2.0/uk/

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14.02 Principles of Macroeconomics (MIT)

Description

This course will provide an overview of macroeconomic issues: the determination of output, employment, unemployment, interest rates, and inflation. Monetary and fiscal policies are discussed, as are the public debt and international economic issues. It introduces basic models of macroeconomics and illustrates principles with the experience of the United States and other economies.

Subjects

Economics | Macroeconomics | the determination of output | employment | unemployment | interest rates | inflation | Monetary and fiscal policies are discussed | as are the public debt and international economic issues | the determination of output | employment | unemployment | interest rates | and inflation | Monetary and fiscal policies are discussed | as are the public debt and international economic issues | Monetary policies | Fiscal policies

License

Content within individual OCW courses is (c) by the individual authors unless otherwise noted. MIT OpenCourseWare materials are licensed by the Massachusetts Institute of Technology under a Creative Commons License (Attribution-NonCommercial-ShareAlike). For further information see https://ocw.mit.edu/terms/index.htm

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14.05 Intermediate Applied Macroeconomics (MIT)

Description

This subject considers three topics of macroeconomics that are alive and controversial for policy today. The topics are: economic growth - the roles of capital accumulation, increased education, and technological progress in determining economic growth; savings - the effect of government and private debt on economic growth; and exchange-rate regimes - their role in the Great Depression and today.

Subjects

exchange-rate | Great Depression | capital accumulation | economic growth | public debt | private debt

License

Content within individual OCW courses is (c) by the individual authors unless otherwise noted. MIT OpenCourseWare materials are licensed by the Massachusetts Institute of Technology under a Creative Commons License (Attribution-NonCommercial-ShareAlike). For further information see https://ocw.mit.edu/terms/index.htm

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14.05 Intermediate Applied Macroeconomics (MIT)

Description

This subject considers three topics of macroeconomics that are alive andcontroversial for policy today.The topics are: exchange-rate regimes- their role in the Great Depression andtoday; economic growth- the roles of capital accumulation, increased education, and technological progress in determining economic growth; and savings- the effect of government and private debt on economic growth.

Subjects

exchange-rate | Great Depression | capital accumulation | economic growth | public debt | private debt

License

Content within individual OCW courses is (c) by the individual authors unless otherwise noted. MIT OpenCourseWare materials are licensed by the Massachusetts Institute of Technology under a Creative Commons License (Attribution-NonCommercial-ShareAlike). For further information see https://ocw.mit.edu/terms/index.htm

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Making Sovereign Finance and Human Rights Work

Description

Discussion of 'Making Sovereign Finance and Human Rights Work,' a recently-published collection that introduces novel legal theories and analyses the links between sovereign debt and human rights from a variety of perspectives. Poor public resource management and the global financial crisis curbing fundamental fiscal space, millions thrown into poverty, and authoritarian regimes running successful criminal campaigns with the help of financial assistance are all phenomena that raise fundamental questions around finance and human rights. They also highlight the urgent need for more systematic and robust legal and economic thinking about sovereign finance and human rights. The recently published edited collection Making Sovereign Finance and Human Rights Work aims to contribute to filling Wales; http://creativecommons.org/licenses/by-nc-sa/2.0/uk/

Subjects

sovereign finance | management | human rights | poverty | debt | authoritarian | sovereign finance | management | human rights | poverty | debt | authoritarian

License

http://creativecommons.org/licenses/by-nc-sa/2.0/uk/

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New Series: Rethinking Public Assets New Series: Rethinking Public Assets

Description

Five years after the financial crisis eased, sovereign debt, budget deficits and austerity politics still dominate the headlines. Yet despite deep cutbacks in many countries, governments still remain the largest asset-owner in most economies. They just don’t know it. Many of these assets exist beyond the balance sheet in the form of public land and real estate, state-owned enterprises and sovereign wealth. There are a number of implications to this hidden value. For instance, radical change in the way we understand and manage state assets could help tackle some pressing social and economic policy challenges. Clearer accounting of the ownership ... The post New Series: Rethinking Public Assets appeared first on OxPol. Five years after the financial crisis eased, sovereign debt, budget deficits and austerity politics still dominate the headlines. Yet despite deep cutbacks in many countries, governments still remain the largest asset-owner in most economies. They just don’t know it. Many of these assets exist beyond the balance sheet in the form of public land and real estate, state-owned enterprises and sovereign wealth. There are a number of implications to this hidden value. For instance, radical change in the way we understand and manage state assets could help tackle some pressing social and economic policy challenges. Clearer accounting of the ownership ... The post New Series: Rethinking Public Assets appeared first on OxPol.

Subjects

Rethinking Public Assets Blog | Rethinking Public Assets Blog

License

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Is there another economic crash on the way?

Description

Sir Vince talks about some of the issues raised in his latest book 'After the Storm' Sir Vince Cable was Secretary of State for Business, Innovation and Skills in the Conservative/Liberal Democrat Coalition government, from 2010 to 2015. He is releasing a book entitled After the Storm. ?The event is chaired by Dr Oscar Dahlsten and Professor Anne Deighton. This is a lecture organised by the Research Fellows of Wolfson College. Wales; http://creativecommons.org/licenses/by-nc-sa/2.0/uk/

Subjects

economics | national debt | china | economics | national debt | china | 2015-10-21

License

http://creativecommons.org/licenses/by-nc-sa/2.0/uk/

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14.471 Public Economics I (MIT) 14.471 Public Economics I (MIT)

Description

This course covers theory and evidence on government taxation policy. Topics include tax incidence, optimal tax theory, the effect of taxation on labor supply and savings, taxation and corporate behavior, and tax expenditure policy. This course covers theory and evidence on government taxation policy. Topics include tax incidence, optimal tax theory, the effect of taxation on labor supply and savings, taxation and corporate behavior, and tax expenditure policy.

Subjects

economic analysis | economic analysis | taxation | taxation | wealth | wealth | financial policy | financial policy | income | income | investment | investment | asset | asset | political economy | political economy | labor | labor | capital | capital | public policy | public policy | corporate finance | corporate finance | tax reform | tax reform | optimal commodity taxes | optimal commodity taxes | optimal corrective taxation | optimal corrective taxation | optimal stochastic taxes | optimal stochastic taxes | dynamic consistency issues | dynamic consistency issues | debt | debt | equity | equity

License

Content within individual OCW courses is (c) by the individual authors unless otherwise noted. MIT OpenCourseWare materials are licensed by the Massachusetts Institute of Technology under a Creative Commons License (Attribution-NonCommercial-ShareAlike). For further information see http://ocw.mit.edu/terms/index.htm

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Brexit: Why the Leave Campaign is Likely to Lose Brexit: Why the Leave Campaign is Likely to Lose

Description

Events over the last few days should have put a spring in the step of the euro-sceptics in Britain. The recent draft paper setting out the basic parameters of David Cameron’s renegotiation deal was savaged by the press last week. A YouGov poll for The Times on the weekend put the Leave campaign nine points in front (although research was carried out on line and such a methodology proved to be problematic during last year’s general election). More generally, the European Union (EU) is perceived by many to be in crisis, buffeted by the twin threats of sovereign debt default ... The post Brexit: Why the Leave Campaign is Likely to Lose appeared first on OxPol. Events over the last few days should have put a spring in the step of the euro-sceptics in Britain. The recent draft paper setting out the basic parameters of David Cameron’s renegotiation deal was savaged by the press last week. A YouGov poll for The Times on the weekend put the Leave campaign nine points in front (although research was carried out on line and such a methodology proved to be problematic during last year’s general election). More generally, the European Union (EU) is perceived by many to be in crisis, buffeted by the twin threats of sovereign debt default ... The post Brexit: Why the Leave Campaign is Likely to Lose appeared first on OxPol.

Subjects

Brexit | Brexit

License

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14.471 Public Economics I (MIT) 14.471 Public Economics I (MIT)

Description

Theory and evidence on government taxation policy. Topics include tax incidence, optimal tax theory, the effect of taxation on labor supply and savings, taxation and corporate behavior, and tax expenditure policy. Theory and evidence on government taxation policy. Topics include tax incidence, optimal tax theory, the effect of taxation on labor supply and savings, taxation and corporate behavior, and tax expenditure policy.

Subjects

economic analysis | economic analysis | taxation | taxation | wealth | wealth | financial policy | financial policy | income | income | investment | investment | asset | asset | political economy | political economy | labor | labor | capital | capital | public policy | public policy | corporate finance | corporate finance | tax reform | tax reform | optimal commodity taxes | optimal commodity taxes | optimal corrective taxation | optimal corrective taxation | optimal stochastic taxes | optimal stochastic taxes | dynamic consistency issues | dynamic consistency issues | debt | debt | equity | equity

License

Content within individual OCW courses is (c) by the individual authors unless otherwise noted. MIT OpenCourseWare materials are licensed by the Massachusetts Institute of Technology under a Creative Commons License (Attribution-NonCommercial-ShareAlike). For further information see http://ocw.mit.edu/terms/index.htm

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14.02 Principles of Macroeconomics (MIT)

Description

This course provides an overview of the following macroeconomic issues: the determination of output, employment, unemployment, interest rates, and inflation. Monetary and fiscal policies are discussed, as are public debt and international economic issues. This course also introduces basic models of macroeconomics and illustrates principles with the experience of the United States and other economies.

Subjects

macroeconomics | economics | output | employment | determination | unemployment | interest rates | Federal Reserve | inflation | monetary policy | fiscal policy | public debt | international economics | goods market | market | financial markets | open economy | exchange rate | labor market | phillips curve | growth | Solow's model | MACROECONOMICS | ECONOMICS | OUTPUT | Macroeconomics | EMPLOYMENT | DETERMINATION | UNEMPLOYMENT | INTEREST RATES | FEDERAL RESERVE | INFLATION | MONETARY POLICY | FISCAL POLICY | PUBLIC DEBT | INTERNATIONAL ECONOMICS | GOODS MARKET | MARKET | FINANCIAL MARKETS | OPEN ECONOMY | EXCHANGE RATE | LABOR MARKET | PHILLIPS CURVE | GROWTH | SOLOW'S MODEL | Economics | Output | Employment | Determination | Unemployment | Interest Rates | Inflation | Monetary Policy | Fiscal Policy | Public Debt | International Economics | Goods Market | Market | Financial Markets | Open Economy | Exchange Rate | Labor Market | Phillips Curve | Growth | Solow's Model

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Graham Wallas (right), K.B. Smellie (left), 1925

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Picture given by Anne Bohm Extracts from ?Portraits from the Past: Graham Wallas: 1858-1932,? by W.A. Robson from LSE Magazine, May 1971, No41, p.5 ?The son of an Anglican clergyman, he went to Shrewsbury and then to Corpus Christi College, Oxford, where he read classics. His first post was as a schoolmaster at Highgate School but he left after a few years on a question of religious conformity. He then became an extension lecturer in London University in 1890. He joined the Fabian Society in its early days and wrote one of the original Fabian Essays. As a friend and colleague of the Webbs and Bernard Shaw he played a leading part in the creation and development of LSE from the day of its conception in August 1894, at the farm near Godalming where the four were staying, until the end of his active life. He was a lecturer at the School from 1895 and later became its first Professor of Political Science?Wallas was much greater as teacher than as a writer. As H.G Wells remarked in his Autobiography, ?the London School of Economics will testify how much the personal Graham Wallas outdid the published Graham Wallas?there is scarcely any considerable figure among the younger generation of publicists who does not owe something to his slow, fussy, mannered, penetrating and inspiring counsels.? Of his own debt Wells wrote ?I cannot measure justly the influence of the disinterested life he led on my own. It was I think very considerable.? Many of us who were his students and friends feel a similar debt. No small part of Wallas? influence was due to his lovable personality and the spirit of benevolence and altruism which shone through him at all times.? Extracts from ?Professor K.B.S. Smellie? by C.M.R. in The LSE Magazine, June 1988, No75, p. 21 ?Professor K.B.S. Smellie, Professor Emeritus of Political Science, died in London on 30 November 1987. Only three days earlier a notice had appeared in The Times expressing his appreciation for the cards and flowers sent to him for his ninetieth birthday, and his regret that, because he was in hospital, he could not celebrate with his friends in the normal champagne manner. For K.B as he was affectionately known, such celebrations, to mark the passing years, had over the last decades become very much part of the currency of life. This was not only because he rejoiced in the birthdays and anniversaries themselves, but because they gave the opportunity for family and friends to come together at his home in Wimbledon, to be generously entertained, drawn into stimulating conversation on whatever intellectual problem was currently in the forefront of his mind, and delighted by the humour, felicity and incisiveness with which he would reply to the toast for the occasion. More often than not the toast would be proposed by a former student of his who subsequently became a colleague, and a friend. For K.B., the three categories were largely indistinguishable; and the resulting loyalties and affections were two-way and lasting. Kingsley Bryce Speakman Smellie was born in London on 22 November 1897, of Scottish parents who were on the stage. He was educated first at a Dame School in Hammersmith?and then at Latymer Upper School. After the First World War he went up to St John?s College, Cambridge, on a scholarship and obtained a First in both parts of the History Tripos. In 1925 he went to Harvard Law School for a year on a Laura Spelman Rockefeller studentship, and acquired the abiding fascination with the institutions of the American democracy which he always retained. That year apart, Smellie?s whole academic career was spent on the staff of the Government Department of the School. He had become a public administration assistant to Graham Wallas, the first Professor of Political Science in 1921; a Lecturer in Public Administration in 1929 and a reader in Political Science in 1939; and was appointed to a personal chair in Political Science in January 1949. This he held until he reached retirement age in 1965, when he became Emeritus. Twelve years later the School, happily, made him an Honorary Fellow. He published nine books between 1928 and 1962?but it was orally, perhaps more than in his writings, that Smellie excelled and exercised a profound influence on generations of students. The style was one of scepticism, paradox, aphorism, of delight in ideas and intellectual provocation, of much knowledge combined with an element of self-depreciation?and of infectious enthusiasm and wit. Few who had the experience of lectures by, or tutorials with, K.B. ? thumbs tucked into his characteristic fawn waistcoat surmounted by an elegant French bow-tie, eyes twinkling and intellectual argument flowing ? will forget those happy experiences or what they learnt and derived from them?In the sphere of public administration, Smellie drew fruitfully on the practical knowledge he gained during the Second World War, when he served first in the BBC?s Propaganda Research Unit (July to December 1940) and then as a temporary administrative civil servant, from December 1940 to April 1942 in the Ministry of Home Security (bomb recording work) and then till January 1945 in the Board of Trade (clothes rationing)?Before and after his temporary service, Smellie was among those who lectured in Cambridge where the School was evacuated. There were two other profound influences in K.B?s life. The first was his marriage in 1931, to Stephanie Narlian, one of his former students. This was a happy and successful partnership in which, in their qualities, their activities and interests they complemented each other superbly?The other influence was notable for what it did not do. K.B. served as a Private in the London Scottish in France in the First World War and, in April 1917, an exploding shell necessitated the amputation of his left leg below the knee and of his right foot. For all the seventy years that followed he had two wooden prostheses. But never once did he allow this to interfere with a full life, which included playing table tennis, driving a car in a manner which became somewhat notorious and a propensity for many years to consider attendance at West End cinemas to see the latest films as an extension of the facilities of the School?? IMAGELIBRARY/269 Persistent URL: archives.lse.ac.uk/dserve.exe?dsqServer=lib-4.lse.ac.uk&a...

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