Economists, political economists and historians have taken different perspectives on the analysis of capitalism.

Economists usually emphasize the degree to which government does not have control over markets ( laissez faire ), as well as the importance of property rights.

Economists have theorized that e-commerce ought to lead to intensified price competition, as it increases consumers ' ability to gather information about products and prices.

Economists have also shown that IP can be a disincentive to innovation when that innovation is drastic.

Economists have done empirical studies on numerous aspects of the minimum wage, prominently including:

Economists and other political commentators have proposed alternatives to the minimum wage.

Economists have attempted to model the circumstances under which slavery ( and variants such as serfdom ) appear and disappear.

Economists have further criticized comparative negligence, since under the Learned Hand Rule it will not yield optimal precaution levels.

Economists have considered poll taxes economically efficient because people are presumed to be in fixed supply.

Economists have urged the use of " market-based " instruments such as emissions trading to address environmental problems instead of prescriptive " command and control " regulation.

Economists have elaborated the economics of gift-giving into the notion of a gift economy.

Economists have, in fact, often been frustrated by public opposition to economic reasoning.

As Sam Peltzman puts it " Economists know what steps would improve the efficiency of HSE safety, and environmental regulation, and they have not been bashful advocates of them.

Economists such as Milton Friedman and Dr. Ravi Batra have theorized ways that a modern economy could have low inflation and near full employment ( as in close to 100 % of those who are not students and are healthy enough to work, and who wish to work at any given point in time ), as of yet these have yet to be widely disseminated through the press or introduced by most governments.

Economists have criticized the government's fiscal policy, whose level of expenditures and indebtness has increase significantly within the past decade while the economy was grown at a much slower pace.

Economists aligned with his government have argued that this was due to external factors outside the control of the administration at the time, such as the devaluation of the Brazilian real and the growth of the share of the debt denominated in US dollars.

Economists have suggested that those who support protectionism ostensibly to further the interests of workers in least developed countries are in fact being disingenuous, seeking only to protect jobs in developed countries.

Economists who have examined the impact of new trade-restrictive measures using detailed bilaterally monthly trade statistics estimated that new measures taken through late 2009 were distorting global merchandise trade by 0. 25 % to 0. 5 % ( about $ 50 billion a year ).

Economists such as Tim Harford in the Undercover Economist have argued that this is a form of price discrimination: by providing a choice between a regular and premium product, consumers are being asked to reveal their degree of price sensitivity ( or willingness to pay ) for comparable products.

Later becoming editor-in-chief of The Economist, which had been founded by his father-in-law, James Wilson, in 1860, Bagehot expanded The Economists reporting on the United States and on politics and is considered to have increased its influence among policymakers over the seventeen years he served as editor.

Economists such as Paul Krugman and Jeffrey Sachs have also analyzed many traits related to economic geography.

Economists Dani Rodrik and Jeffrey Sachs have separately noted that there appears to be little correlation between measured economic freedom and economic growth when the least free countries are disregarded, as indicated by the strong growth of the Chinese economy in recent years.

Economists Stephen Moore and Richard Vedder have written in the Wall Street Journal that every new dollar of new taxes leads to more than one dollar of new spending according to their research.

Economists who studied with Hayek at the LSE in the 1930s and the 1940s include Arthur Lewis, Ronald Coase, John Kenneth Galbraith, Abba Lerner, Nicholas Kaldor, George Shackle, Thomas Balogh, Vera Smith, L. K. Jha, Arthur Seldon, Paul Rosenstein-Rodan, and Oskar Lange.

Economists at the Organisation for Economic Co-operation and Development studied the effects of various types of taxes on the economic growth of developed nations within the OECD and found that sales taxes are one of the least harmful taxes for growth.

In The Economists 2010 Democracy Index, Tunisia was classified as an authoritarian regime, ranking 144th out of 167 countries studied.

Economists counter that deflation is hard to control once it sets in and its effects are much more damaging than modest, consistent inflation.

Economists still contend over its long-term effects ; research shows that the companies sold by the government achieved better profitability as a result of their disengagement from the State.

Economists and businesspeople are often primarily concerned with the economic effects, but other intellectuals and workers are often more concerned with the non-economic effects for the health, security and wellbeing of citizens.

Economists have found empirical evidence that covered interest rate parity generally holds, though not with precision due to the effects of various risks, costs, taxation, and ultimate differences in liquidity.

Economists Samuel Bowles and Herbert Gintis famously argued in 1976 that there was a fundamental conflict in American schooling between the egalitarian goal of democratic participation and the inequalities implied by the continued profitability of capitalist production on the other.

Economists do not agree on the natural rate, with estimates ranging from 1 % to 5 %, or on its meaning — some associate it with " non-accelerating inflation ".

Economists graph this relationship with the wage on the vertical axis and the quantity ( hours ) of labor supplied on the horizontal axis.

Economists of the Austrian school argue that socialist systems based on economic planning are unfeasible because they lack the information to perform economic calculation in the first place, due to a lack of price signals and a free price system, which they argue are required for rational economic calculation.

Economists view firm specific human capital as risky, since firm closure or industry decline lead to skills that cannot be transferred ( the evidence on the quantitative importance of firm specific capital is unresolved ).

Economists and political economists often disagree on what is preeminent in developing production, market, and political structure theories.

The Economists primary focus is world news, politics and business, but it also runs regular sections on science and technology as well as books and the arts.

In 2008, former editor of Newsweek Jon Meacham, a self described " fan ", criticised The Economists focus on analysis over original reporting.

The following table, based on data from The Economists 2004 calculations, shows the under (-) and over (+) valuation of the local currency against the dollar in %, according to the Starbucks tall latte index and the Big Mac index.

Economists argue, however, that Mao's emphasis on heavy industry lacked the foundation coming from light industry and created an unbalanced economic model.

McNamara was, at the end of his life, a life trustee on the Board of Trustees of the California Institute of Technology ( Caltech ), a trustee of the Economists for Peace and Security, and an honorary trustee for the Brookings Institution.

Economists would label this behavior " irrational ": it is inefficient because it misallocates resources by depending on information that is irrelevant to the decision being made.

Economists Matthew Bishop and Michael Green claim that full acceptance of the hypothesis goes against the thinking of Adam Smith and John Maynard Keynes, who both believed irrational behavior had a real impact on the markets.

Economists use the term " double taxation " in reference to the tax on dividends due to the fact that dividend income is paid out of corporate profits and represent a portion of the profit stream owned by shareholders.

Jomo ( 2005 ), Pioneers of Development Economics: Great Economists on Development, Zed Books-the contributions of economists such as Marshall and Keynes, not normally considered development economists

Economists criticised this move, calling it an irresponsible drain on the budget, amounting to nearly 190 billion Forints, in their opinion purely to increase the administration's popularity.

This unit was based on that recommended by the European Congress of Economists in Paris in 1867 and adopted by Japan in 1873 ( the Argentine 5 peso fuerte coin was equivalent to the Japanese 5 yen ).

Economists overwhelmingly agree that the Washington Consensus was incomplete, and that countries in Latin America and elsewhere need to move beyond " first generation " macroeconomic and trade reforms to a stronger focus on productivity-boosting reforms and direct programs to support the poor.