involuntary unemployment
21economic stabilizer — Any of the institutions and practices in an economy that serve to reduce fluctuations in the business cycle through offsetting effects on the amounts of income available for spending (disposable income). The progressive income tax, unemployment… …
22Efficiency wages — In labor economics, the efficiency wage hypothesis argues that wages, at least in some markets, are determined by more than simply supply and demand. Specifically, it points to the incentive for managers to pay their employees more than the… …
23Reserve army of labour — is a concept in Karl Marx s critique of political economy. It refers basically to the unemployed in capitalist society. It is synonymous with industrial reserve army or relative surplus population , except that the relative surplus population… …
24Say's law — In economics, Say’s Law or Say’s Law of Markets is a principle attributed to French businessman and economist Jean Baptiste Say (1767 1832) stating that there can be no demand without supply. A central element of Say s Law is that recession does… …
25Central bank — Part of a series on Government Public finance …
26Quantum economics — (a.k.a. quantum macroeconomics, a.k.a. the theory of money emissions) is a branch of monetary economics developed by French economist Bernard Schmitt (1929), former Professor at the University of Burgundy, in Dijon, France, and at the University… …
27Nobel Prizes — ▪ 2009 Introduction Prize for Peace The 2008 Nobel Prize for Peace was awarded to Martti Ahtisaari, former president (1994–2000) of Finland, for his work over more than 30 years in settling international disputes, many involving ethnic,… …
28Lars Osberg — Biography Lars Osberg (PhD. Yale) has been a part of the Economics Department at Dalhousie University (Halifax, NS, Canada) since 1977. He is well known internationally for his contributions in the field of economics. His major research interests …
29Workers' compensation — (colloquially known as workers comp in North America or compo in Australia) a form of insurance that provides compensation medical care for employees who are injured in the course of employment, in exchange for mandatory relinquishment of the… …
30Walras' law — Walras’ Law is a principle in general equilibrium theory asserting that when considering any particular market, if all other markets in an economy are in equilibrium, then that specific market must also be in equilibrium. Walras’ Law hinges on… …
