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Overcoming formidable barriers to energy efficiency will require public and private support. Efficient technology that requires less energy than is currently used to get the same or better output has fueled the growth of our economy for more than a century. But while America was building its infrastructure and developing its industry and service sectors, the energy intensity of the economy, BTU per dollar of output, fell dramatically.
Over the past few years, the federal government has been recording budget deficits that are the largest as a share of the economy since 1945. Consequently, the amount of federal debt held by the public has surged. By the end of this year, CBO projects that the federal debt will reach roughly 70 percent of gross domestic product (GDP), the highest percentage since shortly after World War II.
Horwitz, Economy, and Empirics
Fiscal Year 2012 U.S. Federal Spending – Cash or Budget Basis. Fiscal Year 2012 U.S.
The United States faces daunting economic and budgetary challenges.
These data are also available in XML format by clicking on the XML icon. Thursday Mar 28, 2013
The Interest Expense on the Debt Outstanding includes the monthly interest for:
Since recent events helped socialist parties to obtain power in Russia, Hungary, Germany and Austria, and have thus made the execution of a socialist nationalization program a topical issue, Marxist writers have themselves begun to deal more closely with the problems of the regulation of the socialist commonwealth. But even now they still cautiously avoid the crucial question, leaving it to be tackled by the despised "Utopians."
In economics , non-convexity refers to violations of the convexity assumptions of elementary economics . Basic economics textbooks concentrate on consumers with convex preferences (that do not prefer extremes to in-between values) and convex budget sets and on producers with convex production sets ; for convex models, the predicted economic behavior is well understood. [ 1 ] [ 2 ] When convexity assumptions are violated, then many of the good properties of competitive markets need not hold: Thus, non-convexity is associated with market failures , [ 3 ] [ 4 ] where supply and demand differ or where market equilibria can be inefficient . [ 1 ] [ 4 ] [ 5 ] [ 6 ] [ 7 ] [ 8 ] Non-convex economies are studied with nonsmooth analysis , which is a generalization of convex analysis . [ 8 ] [ 9 ] [ 10 ] [ 11 ] [ edit ] Demand with many consumers
SPECIAL ISSUE: The Dynamics and Value of Ecosystem Services: Integrating Economic and Ecological Perspectives
An understanding of demand and supply gives us the fundamentals of how markets operate - the determination of prices and output in the product market for example. However, responses of output to a change in the price of the good are not uniform across goods.
Natural gas research
Formally known as the World Commission on Environment and Development (WCED), the Brundtland Commission' s mission is to unite countries to pursue sustainable development together.
Gauti Eggertsson In 1937, on the eve of a major policy mistake, U.S. economic conditions were surprisingly similar to those in the nation today. Consider, for example, the following summary of economic conditions: (1) Signs indicate that the recession is finally over. (2) Short-term interest rates have been close to zero for years but are now expected to rise. (3) Some are concerned about excessive inflation. (4) Inflation concerns are partly driven by a large expansion in the monetary base in recent years and by banks’ massive holding of excess reserves. (5) Furthermore, some are worried that the recent rally in commodity prices threatens to ignite an inflation spiral.
Time lags that occur between the onset of an economic problem and the full impact of the policy intended to correct the problem. Policy lags come in two broad categories--inside lag (getting the policy activated) and outside lag (the subsequent impact of the policy).