To install click the Add extension button. That's it.

The source code for the WIKI 2 extension is being checked by specialists of the Mozilla Foundation, Google, and Apple. You could also do it yourself at any point in time.

4,5
Kelly Slayton
Congratulations on this excellent venture… what a great idea!
Alexander Grigorievskiy
I use WIKI 2 every day and almost forgot how the original Wikipedia looks like.
Live Statistics
English Articles
Improved in 24 Hours
Added in 24 Hours
What we do. Every page goes through several hundred of perfecting techniques; in live mode. Quite the same Wikipedia. Just better.
.
Leo
Newton
Brights
Milds

Economic power

From Wikipedia, the free encyclopedia

Economists use several concepts featuring the word power:

  • Market power is the ability of a firm to profitably raise the market price of a good or service over marginal cost.
  • Purchasing power, i.e. the ability of any amount of money to buy goods and services. Those with more assets, or more correctly net worth, have more power of this sort. The greater the liquidity of one's assets, the greater one's purchasing power is. Purchasing power parity is a way of adjusting exchange rate valuations to reflect the actual goods or services that can be purchased for a given amount of currency.
  • Corporate power, the landmark of corporate capitalism in which with corporations and large business interest groups have power and influence over government policy, including the policies of regulatory agencies and influencing political campaigns.
  • Bargaining power, i.e. the ability of players in a bargaining game to influence the outcome which is the players sharing rule for something (a prize, a cake or access to resources).[1] Information is a contributor to bargaining power. In the case of two agents entering into a contract, if one agent knows that their deal with turn out significantly better, or worse, than the other suspects, then they are exercising a form of informational economic power (see information asymmetry).
  • Managerial power, i.e. the ability of managers to threaten their employees with firing or other penalties for not following orders or for not giving in satisfying reports. This exists if there is a cost of job loss, especially due to the existence of unemployment and workers' lack of sufficient assets to survive without working for pay.
  • Worker power, i.e. the ability of workers to threaten their managers with resignation for not providing satisfying working conditions. This exists if there is a cost of hiring, especially due to the existence of low unemployment, recruiting costs, or training costs.
  • Class power in Marxian political economy refers to a situation under capitalism where a minority (the capitalists) in society controls the means of production and therefore is able to exploit the majority (the workers).

Scholars of international relations also refer to the economic power of a country as a factor influencing its power in international relations.[2]

YouTube Encyclopedic

  • 1/3
    Views:
    96 734
    59 315
    18 750
  • LARGEST ECONOMIES IN 2020 / 2030 | SHIFT IN GLOBAL ECONOMIC POWER
  • Naomi Klein and Joseph Stiglitz on Economic Power
  • Niall Ferguson: Shift of Economic power from West to East

Transcription

Further reading

  • Vatiero M. (2009), Understanding Power. A 'Law and Economics' Approach, VDM Verlag. ISBN 978-3-639-20265-6.

References

  1. ^ Muthoo, Abhinay (1999). Bargaining Theory with Applications. Cambridge University Press.
  2. ^ Payne, Richard (2016). Global Issues (5th ed.). Boston: Pearson Education Inc. p. 16. ISBN 978-0-13-420205-1.
This page was last edited on 31 May 2019, at 01:09
Basis of this page is in Wikipedia. Text is available under the CC BY-SA 3.0 Unported License. Non-text media are available under their specified licenses. Wikipedia® is a registered trademark of the Wikimedia Foundation, Inc. WIKI 2 is an independent company and has no affiliation with Wikimedia Foundation.