Transcript LEGI ALE ECONOMIEI

Suport pentru Cursul de Geoeconomie şi Afaceri
Internaţionale
2008
“At any point in time, a country can produce only
a certain quantity of goods and services with its
limited resources … Moreover, more of one good
cannot be produced without giving up some of
another good…
In economics, we represent this limitation on a
country's productive potential by the productionpossiblity frontier (PPF). The PPF represents the
maximum amounts of a pair of goods or services
that can be both produced with an economy’s
given resources assuming that all resources are
fully employed.” (Samuelson, 12)
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2a. “Land – or more generally natural resources –
represents the gift of nature to our productive
processes. …We should also view our physical
environment – the air we breathe and the water
we drink – as natural resources.”
2b. “Labor consists of the human time spent in
production. … It is at once the most familiar and
the most crucial input for an advanced industrial
economy.”
2c. “Capital – resources from the durable goods
of an economy, produced in order to produce yet
other goods. … The accumulation of specialized
capital goods is essential to the task of economic
development.”
(Samuelson, p.20)
◦ “But the essential property of capital good is that it is both an input and an output.”
(Samuelson, p.269)
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3a Capitalism: “The ability of individuals to own
and profit from capital is what gives capitalism
its name.”
3b Market: “A market is a mechanism by which
buyers and sellers of a commodity interact to
determine its price and quantity.”
3c Prices: “Prices coordinate the decisions of
producers and consumers in a market. Higher
prices tend to reduce consumer purchases and
encourage production. Lower prices encourage
consumption and discourage production. Prices
are the balance wheel in the market mechanism.”
3d Money: “Money is the means of payment or
the medium of exchange.”
(Samuelson, 30-37)
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“It is a technical term that refers to a market
in which no firm or consumer is large enough
to affect the market price. …
The invisible hand doctrine is about
economies in which all the markets are
perfectly competitive.”
“This principle holds that, in selfishly
pursuing only his or her personal good, every
individual is led, as if by an invisible hand, to
achieve the best good for all.”
(Samuelson, 40)
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“The concept of rent applies to any factor that
is fixed in supply. Any payments for the use
of unique factors of production are rents.”
(Samuelson 264-265)
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“Profits are a residual income item equal to
total revenues minus total costs.”
“In analyzing labor’s earnings, we are
interested in real wages, which represent
the purchasing power of an hour’s work or
the money wages divided by the cost of
living”.
(Samuelson, p.270)
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(Samuelson, p.233)
Samuelson şi Nordhaus, Economics, 1992 (legi care guvernează cererea şi oferta)
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LEGEA RARITĂŢII - the law of scarcity: “goods are scarce because here are not
enough resources to produce all the goods that people want to consume”. (8)
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LEGEA DIMINUĂRII VENITURILOR - of diminishing returns: “we will get less and less
extra output when we add successive doses of an input while holding other inputs
fixed.” (27).
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LEGEA DIMINUĂRII UTILITĂŢII MARGINALE - of diminishing utility: “the amount of
extra marginal utility declines as a person consumes more and more of a good.”
(84).
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PARADOXUL VALORII - AL DIMINUĂRII VALORII - the paradox of value: “The more
there is of a commodity, the less is the relative desirablity of its last little unit”.
 OBS: “the price is equal to the marginal utility of the last unit bought”. De aici
rezultã cã restul de utilitate devine SURPLUS DE UTILITATE (de regulã, la
consumator: faptul cã acesta plãteşte mai puţin decât nivelul la care ar plãti la
prima nevoie din acel produs-cu utilitate marginalã maximã la prima întâlnire)
cf 44-95.
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5. LEGEA SUBSTITUŢIEI - the law of substitution: “as you get more of a good, its
substitution ratio [“points of equally desirable consumption” 102], or indifferencecurve slope, diminishes.” (88).
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“The scarcer a good, he greater its relative substitution value its marginal utility
rises relative to the marginal utility of the good that has become plentiful”. (98).
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Utility
“In a word, utility denotes satisfaction. More
precisely, it refers to the subjective pleasure
or usefulness that a person derives from
consuming a good or service.” (Samuelson,
83)
Value
“Present Value: value today a stream of future
returns generated by an asset”.
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LEGEA ECHILIBRULUI DINTRE CERERE ŞI OFERTĂ:
„Proposition 1: (a) As a general rule, an increase
in demand for a commodity (the supply curve
being constant) will rise the price of the
commodity. (b) for most commodities, an
increase in demand will also increase the quality
demanded. A decrease in demand will have the
opposite effects.
Proposition 2. An increase in supply of a
commodity (the demand curve being constant)
will almost certainly lower the price and increase
the quantity bought and sold.” (Samuelson, Economics, 1992, p.157)
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Wallerstein:
pg.273 “Economy/polity: Economy is primarily a “world” structure but political
activity takes place primarily within and through state structures whose
boundaries are narrower than those of the economy.
Supply/demand: World supply is primarily a function of market-oriented
“individual” production decisions. World demand is primarily a function of
“socially” determined allocations of income”.
Capital/labor: Capital is accumulated by appropriating surplus produced by labor,
but the more capital is accumulated, the less the role of labor in production.”
pg. 278 “(1) There is the process of expansion of the world-economy - the
pushing of outer boundaries of the world-economy to the limits of the earth....
The dynamic of this expansion is located in the crises caused by the
supply/demand antinomy. Each wave of expansion has revitalized demand. But
the physical limits of such expansion are being approached today.” [limitele FIZICE
ale expansiunii capitalului şi ofertei]
analiza economică este centrată pe individul guvernat de interes
analiza economică este centrată pe satisfacţia individuală (ofelimitate)
(Wallerstein, The capitalist world economy, Cambridge, 1993, p.273-278)
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SCHIMBUL INEGAL – principalul produs al acestor antinomii, mai
exact al antinomiei dintre sistemul mondial modern şi structurile
politice locale: “Unequal exchange is the principal outcome of
this antinomy. Unequal exchange has to do not with the initial
appropriation of the surplus value, but its redistribution, ince
created, from peripheral to core regions. …” (Wallerstein: 274)
“If we think of the exchange between the core and the periphery
of a capitalist system being that between high-wage products
and low-wage products, there results an ‘unequal exchange’ …,
in which a peripheral worker needs to work many hours, at a
given level of productivity, to obtain a product produced by a
worker in a core country in one hour. … Without unequal
exchange … it would not be profitable to maintain a capitalist
world-economy, which would then either disintegrate or revert
to the form of a redistributive world-empire.”
Wallerstein, The Capitalist World Economy, 71