By Phyllis Deane, Jessica Kuper
A useful paintings which serves as an advent to the topic and as a reference for all those that have to stay up to date with fiscal pondering.
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Additional info for A Lexicon of Economics (Social Science Lexicons)
The Keynesian consensus view was that the government could be treated exogenously. In contrast, the political and equilibrium theories of the business cycle indicate that the government should be treated endogenously in business cycle models. A possible route for progress in business cycle modelling might involve game theoretic analyses of government policy making. Both the political and equilibrium theories of the business cycle have their origins in much earlier literature and the evidence in support of each of them is rather less than conclusive.
Such changes will almost definitely generate at least transitional unemployment. On the positive side, automation can, although not necessarily will, reduce the need for work in harsh physical environments, increase the potential for leisure in society, generate new products, expand the potential for scientific advance, open up the frontiers of space or help tap new sources of energy (for example, solar power). Here again diffusion is slow, and one cannot expect instantaneous results. Perhaps one of the most interesting impacts of automation or information technology will be its effect on the industrial structure of the economy.
However, the traditional province of the accountant is the smaller unit, typically a business firm. Here, a 4 ACCOUNTING distinction is often made between financial accounting and management accounting. (1) Financial accounting deals with the provision of information to providers of finance (shareholders and creditors) and other interested parties who do not participate in the management of the firm (such as trade unions and consumer groups). This usually takes the form of a balance sheet (a statement of assets and claims thereon at a point in time), and a profit and loss account (a statement of revenue, expenses and profit over a period of time), supplemented by various other statements and notes.
A Lexicon of Economics (Social Science Lexicons) by Phyllis Deane, Jessica Kuper