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 also fail to use economic reasoning for model selection, especially for deciding which variables to include in a regression.

Economists also distinguish the short-run market supply curve from the long-run market supply curve.

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.

Economists work in many fields including academia, government and in the private sector, where they may also "... study data and statistics in order to spot trends in economic activity, economic confidence levels, and consumer attitudes.

Economists are also employed in banking, finance, accountancy, commerce, marketing, business administration, lobbying and non-or not-for profit organizations.

He is also a recipient of the Albert Schweitzer Prize for Humanitarianism and a trustee of Economists for Peace and Security.

He is also President of The National Institute of Economic and Social Research, President of the The Society of Business Economists, Chairman of the Governing Body of the Royal Academy of Music, Chairman of Channel 4, and Chairman of the Monteverdi Choir and Orchestra

He is also currently a non-executive Director of Barclays Bank plc and the Chairman of the National Audit Office His previous non executive roles have included Chairman of the market research firm MORI Ltd, the Economists Bookshop Ltd, Deputy Chairman of the Tavistock and Portman NHS Trust and Director of the Bank of England.

Klein ( 1983 ) asserts that “ Economists now recognise that such a sharp distinction does not exist and that it is useful to consider also transactions occurring within the firm as representing market ( contractual ) relationships .” The costs involved in such transactions that are within a firm or even between the firms are the transaction costs.

He is also a Andrew D. White Professor-at-Large ( 2007 – 2013 ) at Cornell University and is currently ( 2010 – 2011 ) President of the Association of Environmental and Resource Economists ( EAERE ).

* Economists use the term " global labor arbitrage " to refer to the tendency of manufacturing jobs to flow towards whichever country has the lowest wages per unit output at present and has reached the minimum requisite level of political and economic development to support industrialization.

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 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 ).

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.

He is a trustee of the Economists for Peace and Security, and co-director of the Social Interactions, Identity and Well-Being program at the Canadian Institute for Advanced Research ( CIFAR ).

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 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.

File: Waterstone's Economists ' Bookshop at London School of Economics. jpg | London School of Economics

Economists estimate that the University has created at least 3, 000 new jobs within Lincoln and that it generates more than £ 250 million every year for the local economy-doubling previous local economic growth rates.

Economists at the Cato Institute suggest that Wal-Mart is a success because it sells products that people want to buy at low prices, satisfying customer's wants and needs.

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.

AEA still entitles the keynote address at its annual meeting the Richard T. Ely Lecture and recently honored him in the association's annual Economists ' Calendar.

Economists Milton Friedman, Gordon Tullock, Bryan Caplan, and Paul Krugman Furthermore, Roger Garrison argues that a false boom caused by artificially low interest rates would cause a boom in consumption goods as well as investment goods ( with a decrease in " middle goods "), thus explaining the jump in unemployment at the end of a boom.

Simms himself observed in response that The Economists own attempts at clairvoyance had " backfired spectacularly ".