Tag: Environmental Economics
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Pecunia Non Olet
“Pecunia Non Olet,” a Roman maxim meaning “Money does not stink,” delves into the ethical ambiguity surrounding the origins of wealth. It has legal, economic, and social ramifications, and remains relevant in modern debates from digital currency to ethical investing.
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Negative Externalities
Economic activities can impose unaccounted-for costs on society, known as negative externalities. These inefficiencies often lead to government interventions and have widespread implications, affecting issues as significant as climate change and public health.
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Capital-Labor Ratio
The Capital-Labor Ratio is an economic indicator measuring the amount of capital available per worker in a firm or economy. It’s instrumental in determining productivity, wage levels, and employment. Changes in this ratio can significantly influence income distribution and economic growth.