Profit motive is the intent to achieve a monetary gain in a project, transaction, or material endeavor. Profit motive can also be construed as the underlying reason why ataxpayeror company participates in business activities of any kind. In economic thought,Adam Smithidentified the profit motive i...
Proper economic relations (oikonomikē): These belong to the needs of household management (English gets the word "economics" from the Greek term). Wealth is a means toward another end (food, shelter, property, the good life, etc.). Unnatural love of money (chrēmatistikē): Here, wealth...
Application to economics Darwin was also influenced by Scottish philosopherAdam Smith, whoseAn Inquiry into the Nature and Causes of the Wealth of Nationswas published in 1776. In this work, Smith venerated self-interest: “It is not from thebenevolenceof the butcher, the brewer, or the baker...
The idea of a progressive income tax—that is, that people with the ability to pay more should pay a higher percentage of their income—is centuries old. In fact, it was espoused by none other than Adam Smith, considered the father of economics, in 1776. 累进所得税的观点——即有能力支...
Given the interdisciplinary nature of this subject—spanning veterinary science, economics, and social sciences—this study could serve as a foundational piece for future research and policy interventions. 2. Methods 2.1. Search Terms We used bibliometric analysis to search the literature to understand ...
Levy, A. From Hotelling to Backstop Technology; Department of Economics, University of Wollongong: Wollongong, Australia, 2000; Available online: https://ro.uow.edu.au/commwkpapers/25/ (accessed on 13 December 2023). Fleissner, P.; Hofkirchner, W. Entropy and Its Implications for Sustainabilit...
mixed economy, in economics, a market system of resource allocation, commerce, and trade in which free markets coexist with government intervention. A mixed economy may emerge when a government intervenes to disrupt free markets by introducing state-owned enterprises (such as public health or educat...
to economics. Of course, given the incredible amount of work made during the years by scholars with such different backgrounds and opinions on the matter, it cannot be surprising to see how blurred the definition of empathy is. Just to give two concrete examples of the terminological, ...
There are several types of equilibrium used in economics. Disequilibrium is the opposite of equilibrium and it is characterized by changes in conditions that affect market equilibrium. In reality, markets are never in perfect equilibrium, although prices do tend toward it. ...
Adam Smith is generally considered the father of economics and of the political economy. But the term is generally ascribed to French economist Antoine de Montchrestien, who wrote the book "Traité de l'économie politique," which translates to the treaty of the political economy.1110 ...