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Douglas, Paul Howard, 1892-1976 (B3) A US economist who was taught, and much influenced, by John Bates CLARK at Columbia University. For most of his academic career, i.e. 1920-4 and 1927-48, he was a professor at Chicago. As US Senator for Illinois in 1948-66, he fought for family allowances, old-age pensions and pro-union legislation.<br /> In 1928, he used MARGINAL PRODUCTIVITY THEORY as the foundations of the COBB DOUGLAS PRODUCTION FUNCTION, the leading approach on the subject until 1961. His early work on wages included a seminal study of LABOUR FORCE PARTICIPATION relating wages to participation within major US cities and attempting to vindicate MARGINAL PRODUCTIVITY THEORY.<br /> <br /><em>Reference</em><br />Douglas, P.H. (1934) Theory of Wages, New York: Macmillan.
epidemic model (03)<br />An explanation of the diffusion of technology using the analogy of the spread of infectious disease. The rate of diffusion is regarded as a function of the product of (1) the share of the population with a particular innovation and (2) the number of the fixed population without it. The model attempts to explain why a diffusion rate follows a sigmoid S-shaped time path with low initial rates, a quickening of diffusion, then a fall back to low rates as the potential for diffusion diminishes.<br /><em>Reference</em><br />Romer, P. (1990) 'Endogenous technological change', Journal of Political Economy (October 1990 Supplement) 99: S71-102.
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job hopping (J5)<br />Movement from job to job to acquire employment information, e.g. about the characteristics of employers, of other workers, of working conditions. This is a common practice of young workers m times of low unemployment.<br /><em>See also:</em> search unemployment
Cologne (1999) produced an aid package for Kosovo and the Balkans and considered restructuring Russia's external debt.<br />Okinawa (2000) considered the elimination of poverty in developing countries and financial assistance to provide information technology for them.<br />Genoa (2001) provided a global fund to combat AIDS, recommended a New Deal for Africa and called for new world trade talks.
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