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Questions tagged [economy]

Questions relating to economic theory or economic policy of any country or the international community.

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7answers
2k views

Why is there no economics theory largely accepted or considered true?

An exact science is any field of science capable of accurate quantitative expression or precise predictions and rigorous methods of testing hypotheses, especially reproducible experiments involving ...
14
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4answers
2k views

Why would a country ever store its gold deposits abroad?

I just learned from this question that Germany is storing its gold reserves around the globe. Why would a country store any of its gold reserves abroad, instead of well-protected inside the country? ...
3
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1answer
239 views

Do any countries have Country of Origin Food Labeling laws?

There is quite a bit of push back to the request in the US to have country of origin food labels. Has any other country implemented Country of Origin Food labeling? If so have their been any issues ...
8
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4answers
1k views

Why don't we pay food stamps and unemployment benefits indefinitely to stimulate the economy?

A Moody's Analytics study found that expanding unemployment benefits stimulated the economy by 1.64 times the amount spent on the program. In findings echoed by other economists and studies, he ...
3
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1answer
107 views

How is the employment rate defined for OECD countries?

I have a few question about the employment rate. I'm sure there are different definition but maybe there is a general UN or OECD definition which can be used. I'm interested in precisely how it is ...
9
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1answer
1k views

What would be the economic impact of eliminating all tax deductions in the US?

What would be the broader economic impact of eliminating all personal income tax deductions in the United States, across the board? Take two basic scenarios: a) eliminating all income tax deductions, ...
4
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1answer
1k views

Ministry of Knowledge Economy of South Korea

South Korea had a ministry called Ministry of Knowledge Economy. In 1948, it was Ministry of Commerce in the First Republic of South Korea. In 1993 it was merged with the Ministry of Energy, ...
6
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3answers
8k views

Does standard of living correlate with higher education?

This question aims at the correlation between a societies standard of living and standard of formal education. For example, over the past century, America has had the fortune of being a place with a ...
4
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1answer
419 views

What prevents a large corporation from subdividing itself in order to avoid internet sales taxes? [closed]

I'm afraid I'm not overly familiar with the bill or the minutiae of it, particularly as a foreigner to US politics. From what I understand, though, US businesses trading online and with annual sales ...
11
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1answer
224 views

How significant is social cohesion to long term economic growth?

The EU has a long track record of pushing for more social cohesion and the debate on a new round of cohesion policies is ongoing. Hopefully it will result in a cohesive set of guidelines for the 2014 -...
6
votes
1answer
319 views

Why would Cyprus be “forced” to leave the Eurozone if it defaults?

I don't understand the statements being made that Cyprus (and before it, Greece) would be "forced" to leave the Eurozone if it defaults on its debt? Would it be "forced" by the other Eurozone ...
2
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1answer
982 views

Why doesn't the Shadow Chancellor give the UK budget response?

Why is the budget response just given by the Leader of the Opposition rather than the Shadow Chancellor, who sits next to him?
9
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1answer
439 views

How much of the deficit would be reduced by increasing taxes on the top 1% to 1990s levels?

President Obama has talked about raising taxes on the super-rich as one way to balance the national budget. This New York Times opinon piece says: We can achieve significant deficit reduction ...
6
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2answers
136 views

What analogues exist for the Dutch Centraal Planbureau outside The Netherlands, if any?

In The Netherlands, the Centraal Planbureau (Central Planning Bureau, Bureau for Economic Policy Analysis) is an independent government agency that delivers economic analysis of policy plans, among ...
3
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2answers
562 views

Repaying high debt in a country, without get ruined, is it possible? Example?

In another question it was asked what it means to a country if it has a high debt. I'd like to know whether there are there examples of a country paying back high (100%+ Debt to GDP ratio) debt? I ...
3
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0answers
874 views

For the average American, what would the consequences be if the USA defaulted on the national debt? [closed]

First off, we know that currently the USA owes about $16.5 trillion. Of that though, nearly $5 trillion is intergovernmental holdings. That debt would not directly affect the average American, because ...
12
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4answers
727 views

Are Minimum Wage laws correlated with higher poverty levels?

Minimum Wage laws are promoted as a way to ensure that people earn a living wage, and are not living below the poverty line. Research on the subject disagrees about the effectiveness of such ...
2
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2answers
2k views

What can be done to limit the power of trade unions without hurting the right of assembly?

Some claim that trade unions are essential for ensuring workers rights. At the same time, some powerful trade unions are being blamed for using their power to extort extremely high salaries and ...
16
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4answers
824 views

What are the practical effects of having too large a debt load?

My understanding is that Japan has a debt-to-gdp ratio of approximately 200%. It is considered to be one of the worst in the world. The United States is only in the 100% range. What effects would ...
2
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1answer
208 views

Has a government minted this much money at once before?

There are discussions on the internet of a scheme by which the United States government could continue to function without raising the debt ceiling. This scheme boils down to the use of a loophole ...
14
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4answers
2k views

How would the trillion-dollar coin save the United States' economy?

Recently I read in a news post that the Treasury Department is able to order the coinage of a coin made of platinum with a value of 1,000,000,000,000 USD, or 1 trillion US dollars. You can read about ...
36
votes
1answer
3k views

If the US switched to the metric system, what would the net 20-year economic savings be?

If the United States were to adopt the metric system of units, as commonly used in all other advanced industrial economies, there would clearly be switching costs for the economy as a whole, and there ...
8
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1answer
153 views

What was the official explanation of the Laotian “new economic mechanism”?

In 1986, the communist government of Laos introduced several economic reforms, which were clearly in discord with what is generally understood to be the communist ideology. I would be interested to ...
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2answers
501 views

Where one can find the data on Shorrocks index for the world?

Shorrocks index is an index of estimated income mobility (in other words, how likely is it for someone who was in bottom 20% by income in their country to increase their income in N years to move to ...
3
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1answer
211 views

What socio-economic measurement system may become an alternative to the economic growth percentage?

I live in Israel where the government constantly brags about a high economic growth percentage, while many claim that this datum isn't sufficient for describing the true nature of the socio-economic ...
5
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4answers
2k views

Does lowering the capital gains tax encourage investment and increase economic growth?

Capital gains are taxed lower than other types of incomes in several nations.The rationale I have heard for this is that a lower tax on capital gains is supposed to encourage investment and increase ...
3
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2answers
280 views

If robotics starts replacing human workers, what will the less wealthy workers do? [closed]

According to TechChrunch, Foxconn is planning to fully replace workers with robots. If this would continue and spread to other manufacturers, what changes to the current system would be feasible to ...
6
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3answers
479 views

In US politics, what are the grounds for the Republican opposition to alternative energy?

(DISCLAIMER: I am asking this in the most non-partisan way possible. Please no arguments or mudslinging!) What are the Republican party's premises for opposing alternative energy in place of fossil ...
7
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2answers
293 views

Can copyright be interpreted as a liberal economic policy?

Note: This question refers to liberal as in Liberalism, not as in American Liberalism! As copyright is considered a state-guaranteed monopoly for the creators of works, could it be considered a true ...
13
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7answers
7k views

Are worker cooperatives socialist, capitalist, or their own category?

This question inquires about private ownership vs. state ownership. However, there is a 3rd category that may or may not be considered as private ownership: Worker cooperatives. In the model of ...
8
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1answer
394 views

Is there any evidence that public transport splitting, corporatisation or privitisation affects quality?

In Europe in the last 10–30 years, many public transportation companies have been split up in parts, with some parts corporatised and some parts privatised. This has partly been motivated by an ...
11
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2answers
3k views

Is there a correlation between political system and economic growth?

I would like to know whether there are any pieces of scientific research indicating that some political systems are more likely to produce a large economic growth than others. Which systems are they? ...
35
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9answers
3k views

Why is economic growth considered so essential, even in rich countries?

Whenever economic growth as a percentage of BNP drops close to zero, economists speak of a recession or even a crisis. In political debate, the focus is quite often on economic growth; in most ...
5
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1answer
46 views

Analyzing Governmental Debt

When looking at the Federal debt there are a lot of ways to interpret the data. You can look at the dollar amount which is currently ~16 trillion or you can analyze it as a percent of the GDP. Are ...
3
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2answers
335 views

Does the Corporate tax rate negatively affect the economy?

I've heard from many sources that the corporate tax rate has a detrimental effect on the economy, and that lowering it not only has the effect of stimulating the economy, but actually raises more ...
27
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4answers
15k views

Who was the last US President to oversee a reduction in debt?

As of 2012, the United States currently has ~16 trillion in debt. The last five presidents have all added to the overall debt*. Who is the last US president to decrease the total amount of debt ...