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The Work-Leisure Trade-Off and Labor Market Equilibrium : Consequesnces to Full Employment and Price Stability
The human desire for both a comfortable living and a fulfilling life beyond work creates a fundamental tension in every economy. This tension arises from the work-leisure trade-off, where individuals must decide how much time to dedicate to earning income through work and how much time to devote to leisure activities for personal well-being. This…
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How Carbon Tax Promote Sustainable Resource Management and Influence Macroeconomic Variables?
How Carbon Tax Promote Sustainable Resource Management and Influence Macroeconomic Variables? The world experienced rapid expansion and technological advancement from last 100 years in different sectors like business, trade, banking, infrastructure, etc. However, it creates certain envirnmental challenges — global warming, ozone layer depletion, deforestration, water crisis, etc in certain areas. And therefore there is need to…
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Why Oligopoly Theory’s Understanding important in Today’s Business Landscape?
Why Oligopoly Theory’s Understanding important in Today’s Business Landscape? In today’s modern economic sytsem business models and orientation changing and expanding very rapidly. Today, all businesses in worldwide adopting Artificial Intelligence (AI) technologies to expand output and maximise profits. Therefore, analysis of oligopoly and its core understanding is crucial. Ologopoly is the type market structure…
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Can a Divided Market Be Equitiable and Fair? Price Discrimination, Efficiency, and Equity in Monopolistic Competition?
The concpet of price discrimination is possible only in the case of imperfect competition more specifically it depends upon the degree of imperfection in the market. For example, pure monopoly is most imperfect form of market structure where perfect competition has no imperfection at all and hence it is cosidered as the most idealstic form…
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Artificial Intelligence and the Economic Progress: Growth Driver or Disruption?”
How AI Can Unlock New Levels of Efficiency and Productivity The world has been witnessing tremendous shift after the launch of ChatGPT in the year 2022 by OpenAI. Although chat bots and AI are not new technology for humans it is widely used in diffrent sectors by many firms and businesses. However, the distingushing feature…
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Understanding the Bretton Woods System: Fixed Exchange Rates and the formulation of IMF
Understanding the Bretton Woods System: Fixed Exchange Rates and the formulation of IMF The aftermath of World War II demanded a new international economic order. The chaos of the Great Depression, fueled by competitive currency devaluations and trade barriers, was fresh in everyone’s minds. This article delves into the Bretton Woods System, a landmark agreement established…
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The Reserve Bank of India’s Journey as a Nation’s Economic Anchor
The Reserve Bank of India’s Journey as a Nation’s Economic Anchor The central bank of country is playing important role in each and every nation. It controls certain economic variables — inflation, money supply, depression, credit availbility according to the prevailing economic situation in the country. India’s central bank is Reserve Bank Of India which was established in…
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How Crony Capitalism is the Biggest Enemy of Equality and Economic Efficiency?
How Crony Capitalism is the Biggest Enemy of Equality and Economic Efficiency? The dream of every individual in the society and a level playing field, where hard work and talent are the keys to success, is a cornerstone of a healthy economy. However, this ideal is often hampered by the insidious forces of crony capitalism.…
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Celebrating HERstory : Women’s Day 2024 “Women’s Remarkable Achievements and important work of Savitribai Phule, Maulana Azad and Dr Babasaheb Ambedkar”
Every year on 8th March we celebrate International Women’s Day for the achievements of women in different sectors. Moreover we all spread awareness regarding women empowerment and gender equality as well. However there are certain personalities in every country or more particularly in world and their work is important for Women’s Empowerment and well being…
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The Dynamic Firm in a Static World: How Nicholas Kaldor’s Pathbreaking Work Explains the Rise of Monopolies and Oligopolies?
The Dynamic Firm in a Static World: How Nicholas Kaldor’s Pathbreaking Work Explains the Rise of Monopolies and Oligopolies? The analysis of market structure is important because it gives us true picture of how price and output is determined. Basically there are two types of market forms — Perfect Competition and Imperfect Competition. Where Perfect Competition is…
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Pratik Ghansham Salvi Assistant Professor of Economics | Banking & Finance | IMF Finance & Development Contributor 