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  • John Bates Clark John Bates Clark
    482 words
    John Bates Clark John Bates Clark was an American economist who lived from 1847-1938. He played an important role in the development of marginal productivity, and had a great influence on the development of economic thought in the United States. Clark was educated at Amherst College and at the University of Heidelberg in Germany. He taught at Carlton College in Northfield, Minnesota from 1875 to 1881. He then moved on to teach at Smith College, Amherst, Johns Hopkins and Columbia from which he r...
  • Marx's Analysis Of The Division Of Labor
    3,005 words
    Marx's View of the Division of Labor The Division of Labor is a subject which has fascinated social scientists for millennia. Before the advent of modern times, philosophers and theologians concerned themselves with the implications of the idea. Plato saw as the ultimate form of society a community in which social functions would be rigidly separated and maintained; society would be divided into definite functional groups: warriors, artisans, unskilled laborers, rulers. St. Paul, in his first le...
  • Faster Total Factor Productivity Growth In Canada
    1,377 words
    Introduction The measure of productivity is extremely important in determining growth performance of a country. After two decades of high productivity growth in the 1950's and 1960's, we observed a significant slowdown of productivity growth following the oil crisis in 1973. The debate on the causes of the worldwide slowdown has turned into a vital concern for economists and policymakers. Several explanations of the slowdown have been suggested, such as the low investment and savings rate, the e...
  • Labor's Contribution To Productive Output
    448 words
    Determinants of Productivity Determinants of Productivity Productivity is the quantity of output formed by one unit of production input in a unit of time. Inputs used in the production of the goods and services are the major determinants of any country's productivity they are also called factors of production. There are four major determinants of productivity of any country's economy... Land: the land itself, and raw materials such as oil and minerals beneath it. The natural resources that is av...
  • Ratio Of Productive To Unproductive Labor
    1,519 words
    Adam Smith had many views that helped in making the world what it is today. I can't imagine what the world would be like if there weren't thinkers like Adam Smith. Going to college would be pointless and trying to be something more than a cashier in a little store down the street would be pointless. What would we be working so hard for if we made the same amount of money as when we were sixteen working in that little store? He had many other views that were just as important but this was a big i...
  • Feudalism The Ruling Class
    1,019 words
    Historical materialism is the Marxist approach for interpreting history. It is the interpretation of relations between groups of people and the resulting class struggles. According to Marxist theory, there exists a sequence of historical stages each with its own ruling class. Under feudalism the ruling class is the nobility, whereas the capitalists are predominant in capitalism, and socialism has its proletariat's. An understanding of historical materialism is of importance to the ideology of a ...

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