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Topic: Economic surplus

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	Economic surplus - Wikipedia, the free encyclopedia
		Total surplus is the primary measure used in Welfare Economics to evaluate the efficiency of a proposed policy.
		A basic technique of bargaining for both parties is to pretend that their surplus is less than it really is: sellers may argue that the price they asks hardly leaves them any profit, while customers may play down how eager they are to have the article.
		In heterodox economics, the economic surplus denotes the total income which the ruling class derives from its ownership of society's (productive) assets, which is either reinvested or spent on consumption.
	en.wikipedia.org /wiki/Consumer_and_producer_surplus (317 words)

	* Economic surplus - (Business): Definition (Site not responding. Last check: 2007-11-07)
		Economic surplus For any entity, the difference between the market value of all its assets and the market value of its liabilities.
		By contrast, in societies that enjoy an economic surplus and relative security, the institution of private property may be highly developed,...
		The surplus as measured using regulatory accounting principles (RAP), which may allow the nonmarket valuation of assets or liabilities and which may be materially different from economic surplus.
	www.mimihu.com /business/economic_surplus.html (261 words)

	Basic Concepts of Economic Value
		The economic value of a particular item, or good, for example a loaf of bread, is measured by the maximum amount of other things that a person is willing to give up to have that loaf of bread.
		Economic values are also affected by the changes in price or quality of substitute goods or complementary goods.
		Economic benefits to producers are measured by producer surplus, the area above the supply curve and below the market price.
	www.ecosystemvaluation.org /1-01.htm (1069 words)

	FRBSF: Economic Letter - The Changing Budget Picture (03/22/2002)
		In January 2001, the CBO projected that the surplus would be $313 billion for 2002 and would rise significantly over the decade, reaching an annual level of $889 billion in 2011 and totaling $5.6 trillion for the entire decade.
		Of the $308 billion reduction in the projected surplus for 2002, $125 billion is the result of changes in the CBO's economic forecasts.
		Currently, the full-employment budget is still in surplus; if economic activity had not declined during 2001, the federal government would be running a budget surplus.
	www.frbsf.org /publications/economics/letter/2002/el2002-08.html (1891 words)

	ISNAR - Discussion Forum on Priority Setting in Agricultural Research (Site not responding. Last check: 2007-11-07)
		The economic surplus method is a refinement of benefit/cost analysis and, as the latter, measures the economic (efficiency) benefits associated with research alternatives.
		Moreover, analysis in economic surplus terms can be used to show how economic policy interventions, such as commodity price ceilings, over-valued exchange rates, and/or subsidies and taxes, distort or even eliminate the welfare gains which might otherwise have been obtained from research.
		The logic involved in the economic surplus benefit/cost model requires some knowledge of economic theory, and application is hampered by several difficulties including that of obtaining the necessary data on elasticities of supply and demand (see below for definition).
	www.isnar.cgiar.org /fora/priority/MeSurplus.htm (1052 words)

	SWISS1
		An economic surplus model (Alston et al 1995) was used to measure the potential returns to the research on genetic improvement of dual-purpose millet and sorghum.
		One of the challenges in using the economic surplus model to measure the potential returns to research, therefore, was how to estimate research and adoption lags, probability of research success, and the ceiling level of adoption.
		The change in total surplus (Table 5.2) was adjusted by the levels of adoption, the probability of research success, and a depreciation factor to estimate the returns to genetic improvement of dual-purpose varieties of sorghum and millet (Tables 5.4 and 5.5).
	www.ilri.cgiar.org /InfoServ/Webpub/fulldocs/impact3/Chapter5.htm (3304 words)

	MSN Encarta - Search Results - economic surplus
		Trade among the non-Communist nations of the world rose at a slightly faster pace in 1978 than in the two preceding years and appeared to be heading toward a $1.1-1.2 trillion annual total.
		In 1992, Japan faced an economic slump and a series of political scandals involving government officials at the highest levels.
		Despite Japan's pledges to the contrary, the nation's trade surplus continued to mount, and the current-accounts surplus, which reached $14 billion in fiscal year 1977, showed little sign of decline.
	encarta.msn.com /economic+surplus.html (204 words)

	TAKIS FOTOPOULOS - Direct and Economic Democracy in Ancient Athens
		Economic democracy, therefore, relates to every social system that tends to minimize the socio-economic differences and in particular those differences which are due to the unequal distribution of private property and the consequent unequal distribution of income and wealth.
		These unequal relationships at the economic level are reproduced at the political one, where the tendency for concentration of political power in the European Community institutions enables the economically stronger areas to impose directly their will on the weaker ones.
		In this framework, the local economic and political democracy would form the nucleus on which the democratization of society (and, in consequence, of the Europe of the regions) could be based.
	www.democracynature.org /dn/vol1/fotopoulos_athens.htm (4709 words)

	The Economic Ideas of Mao Zedong: Agricultural Transformation - Utsa Patnaik
		There was another source of economic surplus which could be tapped for the purpose of capital formation, however, and this was what we term the potential surplus inherent in the existence of unemployment and unemployment of labour, particularly rural labour.
		This is because labour surplus exists in units of labour days while workers are indivisible and the withdrawal of workers necessarily has to be in discrete units of persons; one cannot withdraw half a worker from a farm.
		It is precisely in permitting the pooling of surplus labour time and, hence, in enabling the effective mobilisation of the potential labour surplus in the form of discrete units of workers for capital formation, that the strength of the cooperatives and the communes lay.
	www.ignca.nic.in /ks_41032.htm (3877 words)

	reviewjournal.com -- News: ECONOMIC FORUM: Surplus estimate grows
		According to economic projections, the state of Nevada has as much as $585 million of them in surplus for the fiscal year ending June 30, and lawmakers will have to wrestle with how much of that to spend or give back to residents.
		Economic Forum members also projected that total tax revenue for the budget period between July 1 and June 30, 2007, to be about $5.94 billion, or $180 million more than the $5.76 billion estimate made five months ago.
		By law, the revenue and surplus projections by the Economic Forum must be used by the Legislature in setting state spending.
	www.reviewjournal.com /lvrj_home/2005/May-03-Tue-2005/news/26430968.html (1137 words)

	[No title]
		Land resource economics is about the study of the property rights to and generation of economic-surplus from real estate.
		The property rights to land allow an individual to claim the economic surplus, which is a major source of wealth to individuals.
		Economic surplus or rent is the return to a factor of production such as land that is available at less than perfectly elastic supply.
	www.agls.uidaho.edu /agec451 (297 words)

	Monthly Review April 2000 John Bellamy Foster
		The strength of the tendency of surplus to rise can be traced historically, as we have seen, to changes that occurred as the system evolved from its freely competitive to its monopoly phase—that is, to the shift from an economy consisting largely of small family-based firms to one dominated by large monopolistic (or oligopolistic) enterprises.
		The economic surplus generated by firms, according to the foregoing analysis, is enhanced by the pursuit of monopoly power and the pursuit of monopoly power generates its own costs, which increasingly dominate the balance sheets of firms.
		Hence, economic surplus that could be used for investment is instead used up in the buying and selling of firms—a competitive race that takes on more and more urgency as it becomes more global in character.
	www.monthlyreview.org /400jbf.htm (5362 words)

	Market Price Method
		Similarly, producer surplus is measured by the difference between the total revenues earned from a good, and the total variable costs of producing it.
		Producer surplus is measured by the difference between the total revenues earned from a good, and the total variable costs of producing it.
		The total net economic benefit, or economic surplus, is the sum of consumer surplus and producer surplus.
	www.ecosystemvaluation.org /market_price.htm (1424 words)

	REVIEW OF WALSH AND GRAM
		The economic theory that dominated in this period (from 1871 to the 1930s) is described by Walsh and Gram as a "highly special new version of allocation theory." It was highly special because it did not dwell on the allocation of the economic surplus.
		The importance of an adequate theory of capital, the meaning of an economic surplus, and the role of economic classes and institutions in theoretical constructs are three issues that are likely to be on the mind of the Austrian-oriented reader throughout most of the book.
		But if surplus is to be reckoned by subtracting the (physical) quantity of inputs from the (physical) quantity of outputs, the input good and the output good must be the same good.
	www.auburn.edu /~garriro/r3walsh.htm (2334 words)

	The exploits of university Marxism
		The notion of surplus is merely the result and the summary of the vision of these advanced servants of capitalism: since capitalism does not produce all that it is able to produce one can go on to calculate all that it could produce if it was a good capitalism, well organised, planned and efficient.
		The economic surplus is, in the briefest possible definition, the difference between what a society produces and the costs of producing it...
		By substituting the law of rising surplus for the law of falling profit, we are therefore not rejecting or revising a time-honoured theorem of political economy: we are simply taking account of the fact that the structure of the capitalist economy has undergone a fundamental change since that theorem was formulated.
	www.sinistra.net /lib/upt/compro/lipi/lipifbocee.html (8772 words)

	U.S. Economy: The Federal Budget Surplus Surprise - Expand Your Insight - FRB Dallas
		The deficit decline and the move into surplus resulted from a combination of factors, including a surge in individual income tax receipts, slower growth of medical costs, lower interest rates, economic growth and the 1990 and 1993 deficit-reduction laws.
		Analysts are still trying to fully explain the budget surplus surprise, but several factors emerge from a comparison of the actual fiscal 1998 budget outcome with the May 1996 CBO projection.
		One-third of the forecast deviation was caused by an overestimate of outlays.
	www.dallasfed.org /eyi/usecon/9908surplus.html (790 words)

	Comparative Economic Systems - Professor Satya Gabriel
		Traditional courses in comparative economic systems (CES) were products of Cold War polemics: economic systems were categorized based upon the officially recognized distinction between an idealized set of dominant politico-economic institutions of the NATO countries (the "West") and a similarly idealized set of dominant politico-economic institutions of the CMEA countries (the "East").
		It is worth noting that most economics students will not be familiar with these debates prior to taking this seminar and it is, therefore, not sufficient to rely upon prior knowledge of neoclassical concepts (which may not have been learned in a history of economic and philosophical thought context).
		However, different economic theories produce different understandings of what is an "economic surplus." Thus, within the course we will need to explore both the question of how do we define difference and how do we understand the concepts upon which that defined difference is based.
	www.mtholyoke.edu /courses/sgabriel/321.htm (2739 words)

	Conclusion
		Producing an economic surplus today is not the simple matter of hard work in a capitalistic productive system that many would have us believe.
		Further, the interplay between the economic, social and political aspects of capitalist nations is intricate.
		Social and cultural integration cannot be considered apart from generating an economic surplus and both are directly related to the maintenance of economic and social order.
	www.gwu.edu /~edpol/manuscript/Chap2-Con.htm (188 words)

	Economic surplus (Site not responding. Last check: 2007-11-07)
		The consumer surplus shows up above the price and below the demand curve, since the consumer is paying less for the item than the maximum that they would pay.
		The producer surplus shows up below the price and above the supply curve, since that is the minimum that a producer can produce that quantity with.
		A basic technique of bargaining for both parties is to pretend that one's surplus is less than it really is: the seller may argue that the price he or she asks hardly leaves him or her any profit, while the customer may play down how eager he or she is to have the article.
	www.sciencedaily.com /encyclopedia/economic_surplus (362 words)

	Saving the Surplus to Save Social Security
		But the surplus in the trust fund cannot be used to retire the national debt if it instead must be used to finance a deficit in the rest of government.
		A bigger overall surplus is justified by normative models of economic growth that ask how much wealth would be left to future generations if we did for them what we wished past generations had done for us.
		The effect of saving the surplus is computed by simply adding the inflation-adjusted yearly amounts shown in table 1 to national saving, thereby raising the total wealth of Americans.
	www.urban.org /Template.cfm?NavMenuID=24&template=/TaggedContent/ViewPublication.cfm&PublicationID=7240 (3350 words)

	Economic surplus - Encyclopedia, History, Geography and Biography (Site not responding. Last check: 2007-11-07)
		Economic surplus - Encyclopedia, History, Geography and Biography
		Total surplus is the primary measure used in Welfare Economics to evalutate the efficiency of a proposed policy.
		The article about Economic surplus contains information related to Economic surplus and See also.
	www.arikah.com /encyclopedia/Consumer_and_producer_surplus (267 words)

	Producer Surplus
		If those working the land obtained the surplus, there would be competition for the right to work land that is especially suited to growing corn.
		Because the earliest case of producers' surplus analyzed was one in which land captured the surplus, the producers' surplus is often called economic rent.
		The resources that capture the surplus are those that are especially good at producing the product in question or that have no other uses, and hence will be used for that product even when prices are low.
	ingrimayne.saintjoe.edu /econ/MaximizingBeha/ProdSurp.html (542 words)

	Kuwait's budget surplus \| Economic Review (Site not responding. Last check: 2007-11-07)
		Global Investment House reports that Kuwait will achieve yet another surplus for the current year.Although not concrete gauge, expenditures are only 31.4% of their budgeted level at the end of six months.
		A look at the economic classification of expenditures shows construction spending declining during the period as did land acquisitions.
		With the second quarter of the fiscal year 2003/04 ending on September 30, 2003, it is evident that the state budget will presumably return a surplus again for the fiscal year at hand.
	www.ameinfo.com /news/Detailed/32099.html (1321 words)

	OIE - Revue A/180210 (Site not responding. Last check: 2007-11-07)
		The authors assess the economic impact of the Pan-African Rinderpest Campaign (PARC).
		The standard cost-benefit approach based on a computer spreadsheet model was used to assess the economic impact of rinderpest control.
		In addition, an economic surplus model was used to assess the distribution of welfare effects generated by the intervention.
	www.oie.int /eng/publicat/rt/1802/a_r18210.htm (391 words)

	Title page for ETD etd-06132001-175021
		The purpose of the study is to assess the economic impact of research on La Fleur 11 on the Senegalese economy through an ex-ante evaluation of the net social benefits from the adoption of this new variety.
		In order to fulfill this objective, an economic surplus analysis is conducted within the framework of a partial equilibrium model.
		This study suggests that future investments in agricultural research in Senegal can result in a positive economic impact provided that other actions are undertaken regarding extension, credit, and input distribution in order to enhance adoption and take advantage of the yield potential of the new peanut varieties.
	scholar.lib.vt.edu /theses/available/etd-06132001-175021 (405 words)

	Campbell R. Harvey's Hypertextual Finance Glossary
		Economic life can be less than absolute physical life for reasons of technological obsolescence, physical deterioration, or product life cycle.
		The 1992 Maastricht Treaty provided for the move to Economic and Monetary Union (EMU), including a European Monetary Institute to coordinate the economic and monetary policy of the EU, a European Central Bank (ECB) to govern these policies, and the presentation of a single European currency.
		An economic association of European countries founded by the Treaty of Rome in 1957 as a common market for six nations.
	www.duke.edu /~charvey/Classes/wpg/bfglose.htm (8434 words)

	Economic Surplus Encyclopedia Article, Definition, History, Biography (Site not responding. Last check: 2007-11-07)
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	www.karr.net /search/encyclopedia/Economic_surplus (485 words)

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