The Cafe' [Think Tank]

Keynesian economics Keynesian economics ( / ˈ k eɪ n z i ə n / KAYN -zee-ən ; sometimes called Keynesianism ) are the various macroeconomic theories about how in the short run – and especially during recessions – economic output is strongly influenced by aggregate demand (total demand in the economy ). In the Keynesian view, aggregate demand does not necessarily equal the productive capacity of the economy ; instead, it is influenced by a host of factors and sometimes behaves erratically, affecting production, employment, and inflation . Keynesian economics developed during and after the Great Depression , from the ideas presented by John Maynard Keynes in his 1936 book, The General Theory of Employment, Interest and Money . Keynes contrasted his approach to the aggregate supply -focused classical economics that preceded his book. The interpretations of Keynes that followed are contentious and several schools of economic thought claim his legacy. Keynesian economist

Behavioral economics  is a smaller part of  economics  that combines what we know about  psychology  with what we know about economics. Normally, economics does not consider the way humans actually think, but instead, simplifies decision-making to make economic models easier to understand. However, this is not a complete picture of how the world, and economics, really works. Normally, economists assume people are rational, meaning they make good decisions at the right times using all information. In real life, people do not do this. They are subject to problems with self-control, problems with time, and make different choices depending on how decisions are presented to them. Behavioral economists look at the world given problems and limitations that result when real humans are faced with decisions. History The study of behavioral economics really began to develop in the middle and towards the end of the 20th century. Psychologists  Amos Tversky  and  Daniel Kahneman  wrote

Neoclassical economics   is an   economic theory   that argues for   markets   to be   free . This means   governments   should generally not make rules about types of   businesses , businesses' behaviour, who may make things, who may sell things, who may buy things, prices, quantities or types of things sold and bought. The theory argues that allowing individual actors (people or businesses) freedom creates better economic outcomes. These outcomes may be a higher average   standard of living , higher   wages , better average   life -expectancies, and higher   GDP . Arguments Markets are an abstract idea: assumed to be all the 'actors' (businesses or people) selling one thing,   service   or type of thing or service, and all the 'actors' buying it. Markets will 'reach equilibrium' if all the sellers who want to sell at or below a given   price   have sold to all the buyers who are willing to buy at or above a given price. the price is worked out in

By David Love - March 8, 2016 What happens when foreigners who are supposedly in African nations to help people are actually there to do great harm to children? Matthew Lane Durham, 21, an Oklahoma missionary, was sentenced to 40 years in federal prison for sexually assaulting four children while working in an orphanage in Kenya. As CNN reported, Durham was sentenced by Judge David L. Russell on four counts of “engaging in illicit sexual conduct in foreign places.”  Further, he must pay restitution of $15,863, as ABC News reported. “These were heinous crimes committed on the most vulnerable victims. He was their worst nightmare come true,” the judge said. “In a span of just 33 days,” prosecutors wrote, Durham “raped three girls — ages 5, 9 and 15 — at least eight times. During that same time period, he sexually molested a 12-year-old boy twice.” The prosecutors added that the condemned man “not only forcefully sexually abused these chil

MSN News Reports: © The Associated Press This undated image provided by attorney Hassan Shibly shows Hoda Muthana, an Alabama woman who left home to join the Islamic State after becoming radicalized online. Muthana realized she was wrong and now wants to return to the United States, Shibly, a lawyer for her family said Tuesday, Feb. 19, 2019. (Hoda Muthana/Attorney Hassan Shibly via AP)   By MATTHEW LEE and JOSHUA REPLOGLE, Associated Press   WASHINGTON — An Alabama woman who joined the Islamic State group in Syria won't be allowed to return to the United States with her toddler son because she is not an American citizen, the U.S. said Wednesday. Her lawyer is challenging that claim. In a brief statement, Secretary of State Mike Pompeo gave no details as to how the administration made their determination. "Ms. Hoda Muthana is not a U.S. citizen and will not be admitted into the United States," he said. "She does