Biography of Joseph Schumpeter Joseph Schumpeter, born in the old Austro-Hungarian Empires in 1883 and later nationalized North American, was one of the most influent economists of the 20th century, having become renown for the authorship of the economic cycles’ theory. Before having dedicated to the economic investigation, mainly in Harvard, Joseph Schumpeter was Minister […]

Liquidity trap is the designation given to a monetary-financial event that occurs when the interest rate is very low.

Marginal Propensity to Import Concept: In macroeconomics, the expression Marginal Propensity to Import designates the variation in monetary…

Marginal Rate of Substitution Concept: Marginal Rate of Substitution (or Substitution Ratio) indicates the rate at which a consumer is…

Marginal rate of technical substitution Concept: Marginal rate of technical substitution (or Technical Substitution Ratio) represents a rate…

Marginal Revenue Concept: The expression Marginal Revenue (MR) designates the variation of the total revenue (TR) provoked…

Marginal Utility Concept: The expression “marginal” is a lot used in economy and can be presented as significant increase…

Money Search Concept: Money Search by the economic agents represents the quantity of money that these want to detain…

Moral Hazard Concept: The expression moral hazard designates a kind of market failure in which the existence of an insurance…

Near Money (or quasi-money) corresponds to a certain type of financial assets without risk and that due to the great quickness and easiness with which are convertible into money come close to effectively be the money. Some examples of the near money are the Treasury bonds and savings deposits. When the money offer is analyzed, […]