color of law definition: nThe conduct of a police officer, judge, or another person clothed with governmental authority that, although it superficially appears to be within the individualâs lawful power, is actually in contravention of the law. For exampl...
What is 'Neoclassical Economics'. Neoclassical economics is an approach to economics that relates supply and demand to an individual's rationality and his ability to maximize utility or profit. Neoclassical economics also uses mathematical equations to study of various aspects of the economy.
Keynesian economic theory is based on the rash assumption that wealth is a fixed quantity. wealth, however, can be created. let me use this anecdote. say there's 2 people. one of them creates something-let's say they're a farmer. they can raise livestock, and grow vegetables.