Adam Smith is considered the Father of Economics. In his seminal book, The Wealth of Nations, he argued that a country's wealth comes from the total value of goods and services produced, not just gold or agriculture. Smith identified two key drivers of economic growth: the division of labor and capital accumulation. The division of labor leads to specialization and higher productivity, while capital accumulation raises productivity by increasing capital per worker. This starts a virtuous cycle of growth, but eventually diminishing returns set in and growth slows, reaching a stationary state.
The classical growth theory argues that economic growth will decrease or end because of an increasing population and limited resources Classical growth theory economists believed that temporary increases in real GDP per person would cause a population explosion that would consequently decrease real GDP.
The classical growth theory argues that economic growth will decrease or end because of an increasing population and limited resources Classical growth theory economists believed that temporary increases in real GDP per person would cause a population explosion that would consequently decrease real GDP.
Neo classical general equilibrium theory which is based on Walrasian theory of general equilibrium 2*2*2 model and Marshallian graphical representation
Neo classical general equilibrium theory which is based on Walrasian theory of general equilibrium 2*2*2 model and Marshallian graphical representation
Dr. Katundu is a lecturer at the Moshi Co-operative University (MoCU). He works under the Department of Community and Rural Development specializing in the area of rural development. He holds a PhD and Master of Arts in Rural development from the Sokoine University of Agriculture (SUA), Morogoro Tanzania and a Bachelor of Arts (Hons) in Geography and Environmental Studies from the University of Dar-Es-Salaam, Tanzania. His research interests include: Agriculture and rural development, rural land reform, rural livelihoods and cooperatives, community driven development, environment and natural resource management, entrepreneurship development, impact evaluation. His PhD thesis is titled: Entrepreneurship Education and Business Start Up: Assessing Entrepreneurial Tendencies among University Graduates in Tanzania whereas; Master dissertation is titled: Evaluation of the Association of Tanzania Tobacco Traders’ Reforestation Programme: The Case of Urambo District.
Agricultural trade has been an important contributor in Bangladesh to improved food security and price stability. For example, private sector imports have assured a price ceiling at import parity levels in the aftermath of major floods in 1998 and 2004. As the global price crisis has shown, however, the positive experiences with private trade might not completely eliminate the role of public food stocks. While Bangladesh is a net agricultural importer, it has also been successful in exporting cereals and high-value products such as shrimp and fish. This success has partly been due to preferential trade agreements. However, further investments are needed to assure that Bangladesh can adhere to increasing quality and safety standards and to prepare for a more liberalized international trade environment, once the Doha trade negotiations are finalized.
how to sell pi coins on Bitmart crypto exchangeDOT TECH
Yes. Pi network coins can be exchanged but not on bitmart exchange. Because pi network is still in the enclosed mainnet. The only way pioneers are able to trade pi coins is by reselling the pi coins to pi verified merchants.
A verified merchant is someone who buys pi network coins and resell it to exchanges looking forward to hold till mainnet launch.
I will leave the telegram contact of my personal pi merchant to trade with.
@Pi_vendor_247
US Economic Outlook - Being Decided - M Capital Group August 2021.pdfpchutichetpong
The U.S. economy is continuing its impressive recovery from the COVID-19 pandemic and not slowing down despite re-occurring bumps. The U.S. savings rate reached its highest ever recorded level at 34% in April 2020 and Americans seem ready to spend. The sectors that had been hurt the most by the pandemic specifically reduced consumer spending, like retail, leisure, hospitality, and travel, are now experiencing massive growth in revenue and job openings.
Could this growth lead to a “Roaring Twenties”? As quickly as the U.S. economy contracted, experiencing a 9.1% drop in economic output relative to the business cycle in Q2 2020, the largest in recorded history, it has rebounded beyond expectations. This surprising growth seems to be fueled by the U.S. government’s aggressive fiscal and monetary policies, and an increase in consumer spending as mobility restrictions are lifted. Unemployment rates between June 2020 and June 2021 decreased by 5.2%, while the demand for labor is increasing, coupled with increasing wages to incentivize Americans to rejoin the labor force. Schools and businesses are expected to fully reopen soon. In parallel, vaccination rates across the country and the world continue to rise, with full vaccination rates of 50% and 14.8% respectively.
However, it is not completely smooth sailing from here. According to M Capital Group, the main risks that threaten the continued growth of the U.S. economy are inflation, unsettled trade relations, and another wave of Covid-19 mutations that could shut down the world again. Have we learned from the past year of COVID-19 and adapted our economy accordingly?
“In order for the U.S. economy to continue growing, whether there is another wave or not, the U.S. needs to focus on diversifying supply chains, supporting business investment, and maintaining consumer spending,” says Grace Feeley, a research analyst at M Capital Group.
While the economic indicators are positive, the risks are coming closer to manifesting and threatening such growth. The new variants spreading throughout the world, Delta, Lambda, and Gamma, are vaccine-resistant and muddy the predictions made about the economy and health of the country. These variants bring back the feeling of uncertainty that has wreaked havoc not only on the stock market but the mindset of people around the world. MCG provides unique insight on how to mitigate these risks to possibly ensure a bright economic future.
The secret way to sell pi coins effortlessly.DOT TECH
Well as we all know pi isn't launched yet. But you can still sell your pi coins effortlessly because some whales in China are interested in holding massive pi coins. And they are willing to pay good money for it. If you are interested in selling I will leave a contact for you. Just telegram this number below. I sold about 3000 pi coins to him and he paid me immediately.
Telegram: @Pi_vendor_247
BYD SWOT Analysis and In-Depth Insights 2024.pptxmikemetalprod
Indepth analysis of the BYD 2024
BYD (Build Your Dreams) is a Chinese automaker and battery manufacturer that has snowballed over the past two decades to become a significant player in electric vehicles and global clean energy technology.
This SWOT analysis examines BYD's strengths, weaknesses, opportunities, and threats as it competes in the fast-changing automotive and energy storage industries.
Founded in 1995 and headquartered in Shenzhen, BYD started as a battery company before expanding into automobiles in the early 2000s.
Initially manufacturing gasoline-powered vehicles, BYD focused on plug-in hybrid and fully electric vehicles, leveraging its expertise in battery technology.
Today, BYD is the world’s largest electric vehicle manufacturer, delivering over 1.2 million electric cars globally. The company also produces electric buses, trucks, forklifts, and rail transit.
On the energy side, BYD is a major supplier of rechargeable batteries for cell phones, laptops, electric vehicles, and energy storage systems.
how to sell pi coins at high rate quickly.DOT TECH
Where can I sell my pi coins at a high rate.
Pi is not launched yet on any exchange. But one can easily sell his or her pi coins to investors who want to hold pi till mainnet launch.
This means crypto whales want to hold pi. And you can get a good rate for selling pi to them. I will leave the telegram contact of my personal pi vendor below.
A vendor is someone who buys from a miner and resell it to a holder or crypto whale.
Here is the telegram contact of my vendor:
@Pi_vendor_247
Turin Startup Ecosystem 2024 - Ricerca sulle Startup e il Sistema dell'Innov...Quotidiano Piemontese
Turin Startup Ecosystem 2024
Una ricerca de il Club degli Investitori, in collaborazione con ToTeM Torino Tech Map e con il supporto della ESCP Business School e di Growth Capital
how to sell pi coins effectively (from 50 - 100k pi)DOT TECH
Anywhere in the world, including Africa, America, and Europe, you can sell Pi Network Coins online and receive cash through online payment options.
Pi has not yet been launched on any exchange because we are currently using the confined Mainnet. The planned launch date for Pi is June 28, 2026.
Reselling to investors who want to hold until the mainnet launch in 2026 is currently the sole way to sell.
Consequently, right now. All you need to do is select the right pi network provider.
Who is a pi merchant?
An individual who buys coins from miners on the pi network and resells them to investors hoping to hang onto them until the mainnet is launched is known as a pi merchant.
debuts.
I'll provide you the Telegram username
@Pi_vendor_247
What website can I sell pi coins securely.DOT TECH
Currently there are no website or exchange that allow buying or selling of pi coins..
But you can still easily sell pi coins, by reselling it to exchanges/crypto whales interested in holding thousands of pi coins before the mainnet launch.
Who is a pi merchant?
A pi merchant is someone who buys pi coins from miners and resell to these crypto whales and holders of pi..
This is because pi network is not doing any pre-sale. The only way exchanges can get pi is by buying from miners and pi merchants stands in between the miners and the exchanges.
How can I sell my pi coins?
Selling pi coins is really easy, but first you need to migrate to mainnet wallet before you can do that. I will leave the telegram contact of my personal pi merchant to trade with.
Tele-gram.
@Pi_vendor_247
The Evolution of Non-Banking Financial Companies (NBFCs) in India: Challenges...beulahfernandes8
Role in Financial System
NBFCs are critical in bridging the financial inclusion gap.
They provide specialized financial services that cater to segments often neglected by traditional banks.
Economic Impact
NBFCs contribute significantly to India's GDP.
They support sectors like micro, small, and medium enterprises (MSMEs), housing finance, and personal loans.
Falcon stands out as a top-tier P2P Invoice Discounting platform in India, bridging esteemed blue-chip companies and eager investors. Our goal is to transform the investment landscape in India by establishing a comprehensive destination for borrowers and investors with diverse profiles and needs, all while minimizing risk. What sets Falcon apart is the elimination of intermediaries such as commercial banks and depository institutions, allowing investors to enjoy higher yields.
The European Unemployment Puzzle: implications from population agingGRAPE
We study the link between the evolving age structure of the working population and unemployment. We build a large new Keynesian OLG model with a realistic age structure, labor market frictions, sticky prices, and aggregate shocks. Once calibrated to the European economy, we quantify the extent to which demographic changes over the last three decades have contributed to the decline of the unemployment rate. Our findings yield important implications for the future evolution of unemployment given the anticipated further aging of the working population in Europe. We also quantify the implications for optimal monetary policy: lowering inflation volatility becomes less costly in terms of GDP and unemployment volatility, which hints that optimal monetary policy may be more hawkish in an aging society. Finally, our results also propose a partial reversal of the European-US unemployment puzzle due to the fact that the share of young workers is expected to remain robust in the US.
how can i use my minded pi coins I need some funds.DOT TECH
If you are interested in selling your pi coins, i have a verified pi merchant, who buys pi coins and resell them to exchanges looking forward to hold till mainnet launch.
Because the core team has announced that pi network will not be doing any pre-sale. The only way exchanges like huobi, bitmart and hotbit can get pi is by buying from miners.
Now a merchant stands in between these exchanges and the miners. As a link to make transactions smooth. Because right now in the enclosed mainnet you can't sell pi coins your self. You need the help of a merchant,
i will leave the telegram contact of my personal pi merchant below. 👇 I and my friends has traded more than 3000pi coins with him successfully.
@Pi_vendor_247
2. Adam Smith
• 16 June 1723
• Born in Scotland
• Was Scottish moral philosopher
• Considered to be Father of Economics
• Smith began delivering public lectures in 1748
in University of Edinburgh
• In 1762, the University of Glasgow conferred
on Smith the title of Doctor of Laws (L.L.D).).
3.
4. • His Book: An Inquiry into Nature and Causes
of the Wealth of Nations (1776)
• He wanted to examine :
– Why some countries are richer and some poorer ?
– What are the basic economic factors that can
increase the wealth of an economy ?
Wealth of a country is not gold as assumed by
Mercantilists or agriculture as assumed by
Physiocrats.
5. • According to Adam Smith :
– Wealth of an economy is the value of its Total Output
– includes industrial and agricultural output.
– Growth increases wealth by increasing total output,
income and wealth and standard of living.
• How can growth increase ?
If inputs increase, output will also increase.
Three factors (inputs) – land, labour and capital – owned
by landlords, workers and capitalists.
6. Assumptions:
• Supply of land cannot increase – it is finite
• Labour is available in infinite quantity, so wage rate is
at subsistence
• Labour productivity increases through
1. Division of labour 2. Increase in K/L
• Investment is endogenous – determined by savings
• Market economy with Prefect Competition
• Diminishing Returns
• Laissez faire, invisible hand allocates resources
7. Specialization of Labour
• Labour specialization increases output, by
increasing productivity of labour
• This leads to increasing returns to scale. So
growth is self-reinforcing
• He gives the example of a pin factory:
– If each worker produces entire pin, O/L is low, one
worker produces only 20 pins a day
– But if there is specialization, with 18 sub processes,
output per man increases to 4800 pins a day .
8. • Labour specialization increases output because :
– Skill increases with repetition
– Time is saved
– The worker can innovate and improve his
performance
• But increase in Labour specialization depends on
demand (Market) for the product. So Adam
Smith states :
“ Division of labour must always be limited by
the extent of the market”
9. Capital Accumulation
• It is crucial for economic growth
• As capital increases, capital per man (K/L) also
increases, leading to increase in labour
productivity and growth
• Investment → Capital formation
• Only Capitalist class invests
– Workers receive subsistence wages, cannot save
– Landlords only consume, not save
10. The Virtuous Cycle
• Capital Accumulation increases K/L
• Higher productivity of labour with higher K/L
• Higher productivity leads to higher incomes
• Higher income leads to increased demand and
bigger markets
• Leads to specialization of labour with more
division of labour
• But more division of labour leads on to higher
productivity
• This is Smith’s Virtuous Circle
11. Smith’s Virtuous Cycle of Growth
Increase in
K/L
Division of
Labour
Increase in
Output,
income
Increase in
Investment
Market
Increases
12. Stationary Stage
• Although there are increasing returns to labour
specialization, growth cannot go on forever. This is
because:
1. Competition for labour increases, as K accumulation
increases
2. Employment increases and total wage payment
increases
3. Profits decrease, investment falls and growth levels
fall
4. Ultimately, rate of growth becomes Zero
5. This is the Stationary State.
13. • Features:
– No increase in
investment
– No increase in
output – Zero
growth
– No increase in
wage rate
– No increase in
standard of living
14. Criticism
• Adam Smith was a pioneer in Economics
• Crude theory of growth, profits and investment
• Neglects the growth of agriculture
• Based on “Iron Law” of wages
• Stationary state – ignores the role of technical
progress