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This a nickname given to it by economist Carlyle in the 19th century. He used it as he referred to an earlier economist, Malthus, whose economic models shoed that the food supply would not keep up with population growth. This would of course cause a huge disaster. As such was possible so it seemed to many other economists the tag of dismal was attached to the study and workings of economics. Mathus was proved wrong.
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Why economics is labeled the dismal science?
Scotsman Thomas Carlyle labeled economics the "dismal science" well over one hundred years ago because it seemed boring, uninteresting, unclear, and full of "on the one hand, on the other hand."
What kind of science did david ricardo's theory called the iron law wages come to be called?
DISMAL
In economics when is the question how goods are produce not a problem?
Depending upon the situation, there could be a number of reasons. For example, suppose we're dealing with a communist country where businesses are 100% owned and operated by the government. Because the government sets the laws and operates the businesses, they literally have free reign to do whatever they want. And so if there's pollution resulting from their manufacturing activities, it's not a problem because the government can write laws allowing this to occur. So how a product is made becomes unimportant. And that's because the government has total control to make the product anyway it sees fit. This means using substandard materials, illegal workers, dismal working conditions, massive pollution and dangerous chemicals, etc. And because the government is the only one making the product, there's no competition. Plus, the government sets the product's price. So they can charge whatever they want and consumers have no choice but to pay it. Why? Because there's nobody else making and selling it.
What is the brief history of economics?
The history of economics started at the dawn of humankind's presence on Earth with the barter system, and eventually evolved into the insanely complicated mess that it is today, with housing market crashes, national deficits in the trillions of dollars and more...
Why is the US economy declining?
Massive trade and budget deficits, gutting of the wealth-creating manufacturing sector, extremely inefficient use of fuels and energy, dismal education system where unaffordable third level fees prevent many individuals achieving their full potential and contributing to economic development, rapidly decaying infrastructure, inability to defeat Islamic marlboro men after 7 years despite "greatest army ever", useless press and incompetent government failing to draw attention to above issues and a severe case of "we're the best, always have been the best!" among the general public.
What did the Eighteenth and nineteenth century Romantics called the Dismal Science?
Economics was called the dismal science.
Why economics is labeled the dismal science?
Scotsman Thomas Carlyle labeled economics the "dismal science" well over one hundred years ago because it seemed boring, uninteresting, unclear, and full of "on the one hand, on the other hand."
Why do many people consider economics to be a dismal science?
Because no one understands it. (they can describe what happened, but no one can tell you what will happen next.)
What is a dismal science?
Dismal is means someone that is depressing. This can also be called dreary.
What has the author William Dillon written?
William. Dillon has written: 'Business mathematics' -- subject(s): Business mathematics 'Business mathematics simulation' -- subject(s): Case studies, Business mathematics 'The dismal science' -- subject(s): Economics
What kind of science did David Ricardo's theory of the iron law of wages come to be called?
DISMAL
What kind of science did david ricardo's theory called the iron law wages come to be called?
DISMAL
What kind of science did David Ricardo's theory called the iron law of wages come the be called?
DISMAL
Who first called economics the dismal science and whose work prompted the remark?
Thomas Carlyle as a response to the late 18th century writings of The Reverend Thomas Malthus. Malthus said: starvation would result as projected population growth exceeded the rate of increase in the food supply.
Dismal in a sentence?
The weather is absolutely dismal today.
Is dismal a noun?
No, the word 'dismal' is an adjective, a word that describes a noun (a dismal day, a dismal story).The noun form of the adjective 'dismal' is dismalness.
What does dismal?
Dismal means sad
