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Ariel Szuch

Differences Between Classical & Keynesian Economics | Small Business - Chron.com - 0 views

  • Two economic schools of thought are classical and Keynesian. Each school takes a different approach to the economic study of monetary policy, consumer behavior and government spending. A few basic distinctions separate these two schools.
  • Classical economic theory is rooted in the concept of a laissez-faire economic market. A laissez-faire--also known as free--market requires little to no government intervention. It also allows individuals to act according to their own self interest regarding economic decisions.
  • Keynesian economic theory relies on spending and aggregate demand to define the economic marketplace. Keynesian economists believe the aggregate demand is often influenced by public and private decisions. Public decisions represent government agencies and municipalities. Private decisions include individuals and businesses in the economic marketplace. Keynesian economic theory relies heavily on the fact that a nation’s monetary policy can affect a company’s economy.
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  • Government spending is not a major force in a classical economic theory.
  • Too much government spending takes away valuable economic resources needed by individuals and businesses. To classical economists, government spending and involvement can retard a nation’s economic growth by increasing the public sector and decreasing the private sector. Keynesian economics relies on government spending to jumpstart a nation’s economic growth during sluggish economic downturns.
  • Classical economics focuses on creating long-term solutions for economic problems.
  • Keynesian economics often focuses on immediate results in economic theories. Policies focus on the short-term needs and how economic policies can make instant corrections to a nation’s economy. This is why government spending is such a key cog of Keynesian economics.
Margaret Weddle

Eliot, Charles W., ed. The Harvard Classics and Harvard Classics Shelf of Fiction. 1909... - 0 views

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    The Harvard Classics as free online open source books. They were advertised that, if read, they would provide an excellent Liberal Arts education. Some are simply selections of the whole books - but it is certainly a good overview! I think that I would prefer to read the whole books, though!
Brandon McCloskey

BBC News - YouTube drive to 'crowd-read' Spain classic Don Quixote - 1 views

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    A great example of how people are using the digital age to bring back classic stories from the past. Who doesn't love Don Quixote?
Megan Stern

Free Classical Music For Everyone? Why That's Just Plain Old-Fashioned Communism! - 0 views

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    Do you believe the new digital economy is leading to worldwide Communism?
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    This was probably a rhetorical question, but I don't. I believe that our economy will adjust accordingly. Just because the media industry is changing dramatically, doesn't mean people are giving away free food, free houses, free services. I feel this is just an adaptation, not a complete economical revolution.
Kristen Nicole Cardon

Classic Movie "Avatar" Updated for Today's Audiences - 1 views

  • "Avatar was a true classic of its time,
  • "Our hipper, bolder, and updated movie is sure to resonate with younger generations and older fans alike."
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    Quite funny! Think of how fast we can update in the digital renaissance.
Gideon Burton

Magazine - Is Google Making Us Stupid? - The Atlantic - 1 views

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    A classic article critical of how the internet affects us cognitively/
Gideon Burton

My So-Called Blog - NYTimes.com - 2 views

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    Classic piece on blogging By EMILY NUSSBAUM
margaret_weddle

The voyage of the Beagle - Google Books - 0 views

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    (also part of the Harvard Classics) this book is actually Charles Darwin's journal when he traveled the world for 5 years, and visited places like the Galapagos Island, where he formulated much of his theory of hte Origin of the species.
Shuan Pai

Classical Conditioning - 1 views

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    what is classical conditioning? well here it is..
Ariel Szuch

Toward a Psychology of Uncertainty - 0 views

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    This is a book review, but it gave a little more information on the psychology of uncertainty that classical economics was based on, as mentioned in the readings for economics today.
LeeAnne Lowry

Tocqueville's Journey - 0 views

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    Okay, so this is totally cool. C-SPAN is giving a tour of where Tocqueville himself went when he traveled across America writing his classic: Democracy in America. Sign me up!
David Potter

The Communist Manifesto - 1 views

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    This is the Communist Manifesto. I felt like it would served to well to contrast it to the ideas of Adam Smith and traditional capitalism
Katherine Chipman

An introduction to the John Scopes (Monkey) Trial - 0 views

  • By 1925, Bryan and his followers had succeeded in getting legislation introduced in fifteen states to ban the teaching of evolution. In February, Tennessee enacted a bill introduced by John Butler making it unlawful "to teach any theory that denies the story of divine creation as taught by the Bible and to teach instead that man was descended from a lower order of animals."  
  •     Opening statements pictured the trial as a titanic struggle between good and evil or truth and ignorance. Bryan claimed that "if evolution wins, Christianity goes." Darrow argued, "Scopes isn't on trial; civilization is on trial." The prosecution, Darrow contended, was "opening the doors for a reign of bigotry equal to anything in the Middle Ages." To the gasps of spectators, Darrow said Bryan was responsible for the "foolish, mischievous and wicked act." Darrow said that the anti-evolution law made the Bible "the yardstick to measure every man's intellect, to measure every man's intelligence, to measure every man's learning." It was classic Darrow, and the press--mostly sympathetic to the defense--loved it.
  •     On the seventh day of trial, Raulston asked the defense if it had any more evidence. What followed was what the New York Times described as "the most amazing court scene on Anglo-Saxon history." Hays asked that William Jennings Bryan be called to the stand as an expert on the Bible. Bryan assented, stipulating only that he should have a chance to interrogate the defense lawyers. Bryan, dismissing the concerns of his prosecution colleagues, took a seat on the witness stand, and began fanning himself.     Darrow began his interrogation of Bryan with a quiet question: "You have given considerable study to the Bible, haven't you, Mr. Bryan?" Bryan replied, "Yes, I have. I have studied the Bible for about fifty years." Thus began a series of questions designed to undermine a literalist interpretation of the Bible. Bryan was asked about a whale swallowing Jonah, Joshua making the sun stand still, Noah and the great flood, the temptation of Adam in the garden of Eden, and the creation according to Genesis. After initially contending that "everything in the Bible should be accepted as it is given there," Bryan finally conceded that the words of the Bible should not always be taken literally. In response to Darrow's relentless questions as to whether the six days of creation, as described in Genesis, were twenty-four hour days, Bryan said "My impression is that they were periods."     Bryan, who began his testimony calmly, stumbled badly under Darrow's persistent prodding. At one point the exasperated Bryan said, "I do not think about things I don't think about." Darrow asked, "Do you think about the things you do think about?" Bryan responded, to the derisive laughter of spectators, "Well, sometimes." Both old warriors grew testy as the examination continued. Bryan accused Darrow of attempting to "slur at the Bible." He said that he would continue to answer Darrow's impertinent questions because "I want the world to know that this man, who does not believe in God, is trying to use a court in Tennessee--." Darrow interrupted his witness by saying, "I object to your statement" and to "your fool ideas that no intelligent Christian on earth believes." After that outburst, Raulston ordered the court adjourned. The next day, Raulston ruled that Bryan could not return to the stand and that his testimony the previous day should be stricken from evidence.
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  • A year later, the Tennessee Supreme Court reversed the decision of the Dayton court on a technicality--not the constitutional grounds as Darrow had hoped. According to the court, the fine should have been set by the jury, not Raulston. Rather than send the case back for further action, however, the Tennessee Supreme Court dismissed the case. The court commented, "Nothing is to be gained by prolonging the life of this bizarre case."
  • The Scopes trial by no means ended the debate over the teaching of evolution, but it did represent a significant setback for the anti-evolution forces. Of the fifteen states with anti- evolution legislation pending in 1925, only two states (Arkansas and Mississippi) enacted laws restricting teaching of Darwin's theory.
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    Overview of the John Scopes (Monkey) Trial
James Wilcox

John Maynard Keynes: The Concise Encyclopedia of Economics | Library of Economics and L... - 0 views

  • Contrary to some of his critics’ assertions, Keynes was a relatively strong advocate of free markets. It was Keynes, not adam smith, who said, “There is no objection to be raised against the classical analysis of the manner in which private self-interest will determine what in particular is produced, in what proportions the factors of production will be combined to produce it, and how the value of the final product will be distributed between them.”
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    Economic Encyclopedia on John Maynard Keynes
Katherine Chipman

A is for Atom : Sutherland (John) Productions : Free Download & Streaming : Internet Ar... - 0 views

  • Animated classic presenting what an atom is, how energy is released from certain kinds of atoms, the peacetime uses of atomic energy and the byproducts of nuclear fission.
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    Very interesting--it was made in 1953.
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