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Q: What are Edmund Burke's thoughts on political economic and social change?
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Why did Edmund S. Phelps win The Prize in Economic Sciences in 2006?

The Sveriges Riksbank Prize in Economic Sciences in Memory of Alfred Nobel 2006 was awarded to Edmund S. Phelps for his analysis of intertemporal tradeoffs in macroeconomic policy.


Why do we remember the Edmund Fitzgerald?

The Edmund Fitzgerald was a 729-foot long ore freighter that traveled the Great Lakes. Launched on June 8, 1958, it was the largest freighter on the lakes until the 1970's. Designed to carry 26,000 tons of taconite, aka iron ore, it carries the taconite to steel factories who melted the taconite and used the material to make the automobiles we drive. Unlike most freighters, the Edmund Fitzgerald only nedded a crew of 29 men to work at maximum efficiancy. On Novermber 9,1975, the Fitzgerald left Superior, Wisconson to carry taconite to Zug Island, a steel mill near Detroit. The Fitzgerald was joined by the Arthur M. Anderson. The two freighters encountered a massive storm. On Nov. 10, the Fitzgerald reported that it had a fence rail laid down, 2 vents damaged or missing, and was taking on water on its right side. A couple hours later, wind gusts over 100 mph knocked out both of the Fitzgerald's radars, and then the light and radio beacon at Whitefish Pointe. The waves were an average of 25 ft, with reports of waves ranging 30-40 ft! The average wind speed was 85 mph. At 7:10 pm, the Anderson radioed the Fitzgerald, asking how it was fairing. Their reply: "we are holding our own. Floating along like an old boot. No trouble at all". The Anderson's radar was blinded by a snow squall. When the squall ended at 7:15, the Fitzgerald was gone. It had sank 17 miles NorthWest of Whitefish Pointe, at a depth of 535 feet. It lays in two, the front end,276 feet, layed face-up, while the back end 170 ft away, upside down at a 45-degree angle to the bow. The mid-section lies in shreds in between. All 29 men died. Gordon Lightfoot wrote a song honoring it in 1976.


What is keynesian model?

Keynesian framework: In 1936 John Maynard Keynes published his General Theory of Employment, Interest and Money. Keynes, whose earlier work had made him one of the world's most respected economists, offered a new framework for approaching the questions of recession and unemployment. Arriving at a time in which most economists seemed confused about the state of economic affairs, the book revolutionized thinking about macroeconomics questions, sweeping before it the old business-cycle framework and the quantity theory of money. There is controversy about what Keynes really meant, but this controversy is of no importance to us. Although some economists argue that the development of "Keynesian" economics in the 1940s and 1950s involved distortions of the true message of Keynes, it is these developments that had become the conventional wisdom of economics by 1965. These readings explore the mechanics and implications of the simplest "Keynesian" models that economists have used to explain problems of unemployment and recession. The "Keynesian Revolution" emphasized markets for goods and services as the source of macroeconomic disturbance and de-emphasized monetary and financial sources. The simple income-expenditure model developed in this group of readings implicitly assumes that all interesting action takes place in the goods and services market, and that all other markets adjust passively. In contrast, the quantity theory of money assumed that the interesting action took place in the market for money balances, and the market for goods and services adjusted. Though by the 1960s most economists had come to accept the Keynesian view that the source of economic disturbance should be sought in the market for good and services, this view is probably no longer a majority position. The tide of Keynesian economics, which once swept all before it, has greatly receded.


Related questions

Edmund Burkes idea of representatives as trustees was based on the claim that?

representatives should follow their own judgment of the public interest


What was Edmund Burkes' philosophical position in relation to both the American and French Revolution?

American Revolution - for French Revolution - against American Revolution - for French Revolution - against


What has the author Subrata Mukherjee written?

Subrata Mukherjee has written: 'George Plekhanov ; His Thoughts and Works' 'Edmund Burke' 'Gandhian thought, Marxist interpretation' -- subject(s): Communism, Political and social views


What has the author Edmund Owusu-Sekyere written?

Edmund Owusu-Sekyere has written: 'Ghana, Wirtschaft und Entwicklungsplanung' -- subject(s): Bibliography, Economic conditions, Economic policy


What Nobel Prize did Edmund S. Phelps win and when was it awarded?

Edmund S. Phelps won The Prize in Economic Sciences in 2006.


Who won The Prize in Economic Sciences in 2006?

Edmund S. Phelps won The Prize in Economic Sciences in 2006.


What has the author Edmund Phipps written?

Edmund Phipps has written: 'Memoirs of the political and literary life of Robert Plumer Ward, Esq'


Who is the English political philosopher that articulated a theory of representation?

British political philosopher Edmund Burke (1729-1797)


Why did Edmund S. Phelps win The Prize in Economic Sciences in 2006?

The Sveriges Riksbank Prize in Economic Sciences in Memory of Alfred Nobel 2006 was awarded to Edmund S. Phelps for his analysis of intertemporal tradeoffs in macroeconomic policy.


who was the political thinker recommended that legislators retained independence from their constituents?

Edmund Burke


What did Edmund barton achieve?

Sir Edmund Barton's work in the Australian Political scene played a large role in the formation of the federation of Australia and in the draughting of its constitution.


What has the author Edmund A Mennis written?

Edmund A. Mennis has written: 'How the economy works' -- subject(s): Economics, Economic conditions, Investments 'Understanding Corporate Pension Plans'