capitalism w/out racism Linguistics In the early 20th century Ferdinand de Saussure distinguished between the notions of langue and parole in his formulation of structural linguistics. According to him, parole is the specific utterance of speech, whereas langue refers to an abstract phenomenon that theoretically defines the principles and system of rules that govern a language.[9] This distinction resembles the one made by Noam Chomsky between competence and performance, where competence is individual's ideal knowledge of a language, while performance is the specific way in which it is used.[10] In classical Indian philosophy of language, the Sanskrit philosophers like Patanjali and Katyayana had distinguished between sphota (light) and dhvani (sound). In the late 20th century, French philosopher Jacques Derrida distinguished between the notions of speech and writing.[11] Nomenclature[edit] Variation and Universality[edit] Lexicon[edit] The lexicon is a catalogue of words and terms that are stored in a speaker's mind.
Utility Economic definitions[edit] In economics, utility is a representation of preferences over some set of goods and services. Preferences have a (continuous) utility representation so long as they are transitive, complete, and continuous. Utility is usually applied by economists in such constructs as the indifference curve, which plot the combination of commodities that an individual or a society would accept to maintain a given level of satisfaction. In finance, utility is applied to generate an individual's price for an asset called the indifference price. Quantifying utility[edit] It was recognized that utility could not be measured or observed directly, so instead economists devised a way to infer underlying relative utilities from observed choice. Utility is taken to be correlative to Desire or Want. Cardinal and ordinal utility[edit] Economists distinguish between cardinal utility and ordinal utility. Utility functions of both sorts assign a ranking to members of a choice set. implies .
History of economic thought Study of the development of economic thought The history of economic thought is the study of the philosophies of the different thinkers and theories in the subjects that later became political economy and economics, from the ancient world to the present day in the 21st century. This field encompasses many disparate schools of economic thought. Ancient Greek writers such as the philosopher Aristotle examined ideas about the art of wealth acquisition, and questioned whether property is best left in private or public hands. In the Middle Ages, Thomas Aquinas argued that it was a moral obligation of businesses to sell goods at a just price.[1] In the Western world, economics was not a separate discipline, but part of philosophy until the 18th–19th century Industrial Revolution and the 19th century Great Divergence, which accelerated economic growth.[2] Ancient economic thought (before 500 AD)[edit] Ancient Greece[edit] China[edit] India[edit] Greco-Roman world[edit] Thomas Aquinas[edit] Joseph E.
economics (s243a - Delicious) Psychology Psychology is an academic and applied discipline that involves the scientific study of mental functions and behaviors.[1][2] Psychology has the immediate goal of understanding individuals and groups by both establishing general principles and researching specific cases,[3][4] and by many accounts it ultimately aims to benefit society.[5][6] In this field, a professional practitioner or researcher is called a psychologist and can be classified as a social, behavioral, or cognitive scientist. Psychologists attempt to understand the role of mental functions in individual and social behavior, while also exploring the physiological and biological processes that underlie cognitive functions and behaviors. While psychological knowledge is often applied to the assessment and treatment of mental health problems, it is also directed towards understanding and solving problems in many different spheres of human activity. Etymology History Structuralism Functionalism Psychoanalysis Behaviorism Humanistic
Consequentialism Consequentialism is usually distinguished from deontological ethics (or deontology), in that deontology derives the rightness or wrongness of one's conduct from the character of the behaviour itself rather than the outcomes of the conduct. It is also distinguished from virtue ethics, which focuses on the character of the agent rather than on the nature or consequences of the act (or omission) itself, and pragmatic ethics which treats morality like science: advancing socially over the course of many lifetimes, such that any moral criterion is subject to revision. Consequentialist theories differ in how they define moral goods. Some argue that consequentialist and deontological theories are not necessarily mutually exclusive. Consequentialist philosophies[edit] State consequentialism[edit] Mozi supported a communitarian form of consequentialism, rather than individual pleasure or pain.[4] Utilitarianism[edit] Ethical egoism[edit] Ethical altruism[edit] Rule consequentialism[edit]
Eco Notes Voluntary sector The voluntary sector or community sector (also non-profit sector or "not-for-profit" sector) is the sphere of social activity undertaken by organizations that are not for profit[1] and non-governmental. This sector is also called the third sector, in reference to the public sector and the private sector. Civic sector or social sector are other terms for the sector, emphasizing its relationship to civil society. Given the diversity of organizations that comprise the sector, Peter Frumkin prefers "non-profit and voluntary sector".[2] Country-specific[edit] France[edit] Discourse on the "third sector" began in the 1970s in France as a result of the crisis in the welfare state.[3] United Kingdom[edit] The Cabinet Office of the British government until 2010 had an Office of the Third Sector that defined the "third sector" as "the place between State and (the) private sector India[edit] Israel[edit] Significance to society and the economy[edit] Sub-sectors[edit] Concerns[edit] See also[edit] Examples:
Behavioral economics There are three prevalent themes in behavioral finances:[3] Issues in behavioral economics[edit] Behavioral finance[edit] The central issue in behavioral finance is explaining why market participants make systematic errors contrary to assumption of rational market participants.[1] Such errors affect prices and returns, creating market inefficiencies. Behavioral finance highlights inefficiencies such as under- or over-reactions to information as causes of market trends (and in extreme cases of bubbles and crashes). Other key observations include the asymmetry between decisions to acquire or keep resources, known as the "bird in the bush" paradox, and loss aversion, the unwillingness to let go of a valued possession. Quantitative behavioral finance[edit] Quantitative behavioral finance uses mathematical and statistical methodology to understand behavioral biases. Financial models[edit] The stock image coefficient Criticisms[edit] Behavioral game theory[edit] The animal as a human analog[edit]
Utilitarianism Utilitarianism is influential in political philosophy. Bentham and Mill believed that a utilitarian government was achievable through democracy. Mill thought that despotism was also justifiable through utilitarianism as a transitional phase towards more democratic forms of governance. As an advocate of liberalism, Mill stressed the relationship between utilitarianism and individualism.[10] Historical background[edit] The importance of happiness as an end for humans has long been recognized. Although utilitarianism is usually thought to start with Jeremy Bentham, there were earlier writers who presented theories that were strikingly similar. Hume says that all determinations of morality, this circumstance of public utility principally important. In the first three editions of the book, Hutcheson included various mathematical algorithms "...to compute the Morality of any Actions." This pursuit of happiness is given a theological basis:[22] …actions are to be estimated by their tendency.