energy reduction. In fact, quite frequently, efficiency improvements makes things worse by actually encouraging a net waste in energy. This counter-intuitive effect is known as the Jevons Paradox. This energy-efficiency paradox was first described in the mid-1800s by a British economist named William Stanley Jevons. During this era, coal was the fuel that powered industrialization in Britain. Britain was blessed with this valuable resource: geologists estimated that it had around 90 billion tons
“Stanley Williams – Murderer, Thief, Philanthropist.” This was how a bibliography website described the occupation of Stanley Williams. It was very bizarre to see those three strikingly different words in the same sentence because they don’t normally belong together. Stanley Williams was not at all what anyone would classify as normal though. He grew up with very bizarre living conditions. Stanley Williams was born on December 23rd 1953 in New Orleans, Louisiana. His father left the family early
The Loss of the Throne by Richard III There are many views as to whether Richard III lost his throne, or if it was a mainly Tudor advance which secured it. Overall I think that Henry Tudor did not actively gain the throne decisively, in fact Richard III lost it from making key mistakes throughout his reign, and at Bosworth. Richard weakened his grasp on the throne by indulging in a vast plantations policy which gave too much power to Northerners and inevitably made him dependant on these
amount of labor supplied. (The Concise Encyclopedia of Economics 2007) He was a follower of William Stanley Jevons and Philip Wicksteed. William Stanley Jevons wrote the book The Theory of Political Economy (1871) which expanded on the themes of his earlier 1866 paper and launching the Marginalist Revolution in the process. (History of Economic Thought WJ 2007) Philip Wicksteed was also a follower of Jevons and fellow economist writing The Common Sense of Political Economy in 1910, which comprehensively
Francis Ysidro Edgeworth’s contributions were in terms of the application of mathematics and statistics to economics (or, better, to the ‘moral sciences’). Below , I will be focusing on Edgeworth’s contribution to the oligopoly theory, emphasising on his ideas and themes that have developed from his work revolving around the concept of ‘indeterminacy’. Edgeworth explains the concept of indeterminacy, where it is the rule when there are a few agents present in the market that the outcomes be indeterminate
This essay will start looking at the foundation of De Beers and how he initiated his marketing campaign and what the effect was on the prices of diamonds. Diamond is commonly known as a material that possesses unique qualities physically. It contains a strong covalent bond between its atoms. Diamond is majorly known for its hardness as well as lasts thermal conductivity in comparison with bulk material. Such properties make it useful in industrial application such as cutting and polishing tools.
Keynesian economics is an economic theory based on the ideas of an English economist, John Maynard Keynes, outlined in his book: The General Theory of Employment, Interest and Money, published in 1936, in response to the Great Depression of the 1930s. Keynesian economics promotes a mixed economy, where both the state and the private sector play an important role. The rise of Keynesianism promoted the intervention of the government even in capitalist economy. Keynesian economics served as the standard