Nó cũng thành lập các thủ tục để cải thiện việc phối hợp giữa Tổng thống, Quốc hội và các hệ thống dự trữ liên bang với hy vọng cải thiện việc xây dựng các chính sách kinh tế. Hunt Commission (G2, K2) cơ quan điều tra ngành công nghiệp chứng khoán Mỹ. | Liberman Yevsei 1912- B3 Soviet economist and professor at the Institute of Engineering and Economics Kharkov University whose proposals for reforming the planning system published as Plan Profit and Premium in 1962 led to major changes in the running of Soviet enterprises set out in the Enterprise Statute of 1965. He criticized the use of gross output as the key performance target and suggested that some notion of profit acceptable to socialist theory should be employed. It was hoped that this change would lead to more efficient use of factor inputs and would make possible the setting up of incentive funds in each enterprise to reward more productive managers and workers. libertarian economics B2 A school of economics which emphasizes the importance of markets and the limited role of governments. Although the PHYSIOCRATS and some CLASSICAL ECONOMISTS preached this laissez-faire approach it is particularly associated with the AUSTRIAN CHICAGO and NEOCLASSICAL SCHOOLS making HAYEK and FRIEDMAN its gurus. lifeboat operation E5 G2 The rescue of UK SECONDARY BANKS in 1973-4 by the BANK OF ENGLAND assisted by London and Scottish CLEARING BANKS. Imprudent lending by non-clearing banks during the property boom caused many of these minor banks to have an increased number of bad debts. The nature of the Bank of England s help was compared with a rescue of the shipwrecked. life-cycle hypothesis E2 Ando and Modigliani s theory of saving and the CONSUMPTION FUNCTION which recognizes that for each age group there is an associated AVERAGE PROPENSITY TO CONSUME with the consequence that a change in a country s age distribution will affect aggregate saving and consumption. This hypothesis has been applied to the financing of pensions as during a person s working life saving is accumulated which is spent in retirement. A reverse life-cycle hypothesis asserts that at the beginning of one s working life there is DISSAVING to finance education house purchase or consumer durables .
