The Chicago School of Economics is a school of thought that emphasizes the benefits and efficiency of free markets over centrally planned economies.
Classical Economics is a major thread in historical economic thought originating from the work of Adam Smith in the eighteenth century. It emphasizes the role of unregulated markets in achieving desirable social outcomes, despite participants pursuing their self-interests.
An economic equilibrium that exhibits an equality of expected real interest rates among countries when there are no restrictions on international trade, credit, and currency exchanges.
In economics, the J-Curve illustrates the expected turnaround in an activity, such as foreign trade, where the initial deterioration is followed by a significant improvement.
An economic theory proposing that the true value of a good is determined by the amount of labor required to produce it, often associated with Marxist economics. It generally disregards any positive contribution of capital to the production process.
Zero economic growth occurs when the national income of a country neither grows nor falls. Some groups advocate for zero economic growth as a solution to problems like pollution and resource depletion.
