Economists from the Austrian School argue that aggregate economic models are not well suited to describe economic reality because they waste a large part of specific knowledge.

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 argue that one of the factors behind the differing economic development in Africa and Asia is that in Africa, corruption has primarily taken the form of rent extraction with the resulting financial capital moved overseas rather than invested at home ( hence the stereotypical, but often accurate, image of African dictators having Swiss bank accounts ).

Economists such as Milton Friedman from the Chicago school and others from the Public Choice school, argue that market failure does not necessarily imply that government should attempt to solve market failures, because the costs of government failure might be worse than those of the market failure it attempts to fix.

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

Economists like Ernest Dupuis III argue that sunk costs are not taken into account when making rational decisions.

Economists argue that this inefficiency results from information asymmetry.

Economists often argue that featherbedding is the most economically optimal position from both an employer's and employee's perspective.

Economists argue that determining price and output is not actually dependent on the type of industry, that is whether it is a monopoly or perfectly competitive market, but, rather is the real threat of competition.

Economists are still divided about the causes and cures of a jobless recovery: some argue that increased productivity through automation has allowed economic growth without reducing unemployment.

Economists Betsey Stevenson and Justin Wolfers argue that their research proves when states allow no-fault divorce, domestic violence declines, as does female suicide.

Economists like Joseph Stiglitz argue that a measure of " wellbeing " is needed to balance a measure of output growth.

Economists such as Milton Friedman, Friedrich Hayek and Brink Lindsey argue that if the market is eliminated along with property, prices, and wages, then the mode of information transmission is eliminated and what will result is a highly inefficient system for transmitting the value, supply, demand, of goods, services, resources, along with an elimination of the most efficient mode of market transactions.

Economists estimate that two-thirds of the value of large businesses in the U. S. can be traced to intangible assets.

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

But Economists seem to lack a general principle according to which this decision can be made systematically.

Economists say shoplifting is common because it is a relatively unskilled crime with low entry barriers that can be fitted into a normal lifestyle.

Economists generally agree that trade barriers are detrimental and decrease overall economic efficiency, this can be explained by the theory of comparative advantage.

Economists Michael C. Burda and Charles Wyplosz provide an illustration of what can happen if a nation tries to pursue all three goals at once.

Economists then debate about when a price can be said to be " objective ".

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

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 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 see this as determining how the transaction's total economic surplus will be divided between consumers and producers.

Economists tend to disagree with these critiques, arguing that it may be relevant to analyze the consequences of enlightened egoism just as it may be worthwhile to consider altruistic or social behavior.

Economists often suggest that import licenses be auctioned to the highest bidder, or that import quotas be replaced by an equivalent tariff.

Economists often estimate the VSL by looking at the risks that people are voluntarily willing to take and how much they must be paid for taking them.

Economists disagree over how to set tolls, how to cover common costs, what to do with any excess revenues, whether and how “ losers ” from tolling previously free roads should be compensated, and whether to privatize highways.

Economists disagree over how to set tolls, how to cover common costs, what to do with any excess revenues, whether and how “ losers ” from tolling previously free roads should be compensated, and whether to privatize highways.

Economists assert that the largest transfer of wealth will be as the older generation leaves wealth to the baby boomers.

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 who believe this to be the case refer to this as a monopoly wage.

Economists and historians recognise that common land tends to be overfarmed and overused, and in a similar vein the absence of property rights in the waters around the UK has led to overfishing such that the price of fish and seafood has rocketed.

Economists now recognize the Nixon era as Exhibit A in how the adoption of bad economic policies in pursuit of short-term political gain eventually turns out to be bad politics as well.

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 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 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 and political scientists often associate the term with approaches using rational choice assumptions, especially game theory and social choice theory, in explaining phenomena beyond economics ' standard remit, such as corruption, government failure and complex decision-making in which context the term " positive political economy " is common.

Economists say that a consumer is ' prudent ' if he or she saves more when faced with riskier future income.

Economists, especially microeconomists, are often concerned with the causes of market failure and possible means of correction.

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 Thorstein Veblen, John Maynard Keynes, Herbert A. Simon, and many of the Austrian School criticise Homo economicus as an actor with too great of an understanding of macroeconomics and economic forecasting in his decision making.

As a result, the Singer-Prebisch Thesis enjoyed a high degree of popularity in the 1960s and 1970s with neo-marxist developmental Economists and provided a justification for import substitution industrializing ( ISI ) policies and even an expansion of the role of the commodity futures exchange as a tool for development.

* Economists manage state finances with discernment and in the interest of all ;

The New Zealand Association of Economists describe Brash's success in establishing an independent central bank with an inflation target and in reducing inflation as a highlight of his career.

Economists point out several flaws with the assumption:

Economists Pedro Amaral and James MacGee find that the Canadian recovery has important differences with the United States.

Economists tend to cite four possible causes of price stickiness: menu costs, money illusion, imperfect information with regard to price changes, and fairness concerns.

Economists include academics who undertake research and teaching in economics, and professionals with economic expertise employed by governments, financial institutions and other businesses.

" Averting America's Bankruptcy with a New New Deal ", published by The Economists ' Voice-February 2006, outlined some of the solutions promoted in the book.

* Economists from Adam Smith to Paul Krugman have noted that similar businesses tend to congregate geographically (" agglomerate "); opening near similar companies attracts workers with skills in that business, which draws in more businesses seeking experienced employees.

The alliance split in 1994, with the free-market liberal wing becoming the Political Union of Economists and the social-democratic wing becoming the National Harmony Party.