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Our economic systems are of this type and share for general properties.
a) Dissipative systems transform energy and process information to maintain a state of organization that is non statuary,b) There system are wider in themselves, as well as components parts of some systems and oppositional to others, there connection permit the emergence of organized complexity and also structural discontinuity,
c) Such systems exhibit some degree of structural irreversibility due to inherent hierarchical and bonding nature of their processes of structural development,
d) The process that takes place can only be understood in an explicit historical time dimension, - that is, it is dynamic and for that reason, stages of emergence, growth, stationarity, structural transition are observed. Interestingly these factors result in variety innovations, selection and system maintenance.
In economic literature policy instrumentation has usually been discussed from normative point of view. In particular, the analytical apparatus of welfare theory is well equipped t
One of these is deregulator or privatization of public enterprises or utilities. Deregulation is a world wide phenomenon. But experience of power failure in California and Mumbai r
privatization can always decentralise economic power. critically discuss
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What are your thoughts on Putman’s “Bowling Alone,” the idea that there has been a decline in social capital in North America? Do you agree or disagree with the assertion? Support
Q. Define Heterogeneity? We know that breaking of the assumptions of homogeneity of agents, in welfare economics, makes it difficult to define social welfare function. Breakin
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need assignment on supply and money
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