Economics

The Mexican miracle (Spanish: Milagro mexicano) is a term used to refer to the country's inward-looking development strategy that produced sustained economic growth. It is considered to be a golden age in Mexico's economy in which the Mexican economy grew 6.8% each year. It was a stabilizing economic plan which caused an average growth of 6.8% and industrial production to increase by 8% with inflation staying at only 2.5%. Beginning roughly in the 1940s, the Mexican government would begin to roll out the economic plan that they would call "the Mexican miracle," which would spark an economic boom beginning in 1954 spanning some 15 years and would last until 1970. In Mexico, the Spanish economic term used is "Desarrollo estabilizador" or "Stabilizing Development."

An evolutionarily stable strategy (ESS) is a strategy (or set of strategies) that is impermeable when adopted by a population in adaptation to a specific environment, that is to say it cannot be displaced by an alternative strategy (or set of strategies) which may be novel or initially rare. Introduced by John Maynard Smith and George R. Price in 1972/3, it is an important concept in behavioural ecology, evolutionary psychology, mathematical game theory and economics, with applications in other fields such as anthropology, philosophy and political science.

In game-theoretical terms, an ESS is an equilibrium refinement of the Nash equilibrium, being a Nash equilibrium that is also "evolutionarily stable." Thus, once fixed in a population, natural selection alone is sufficient to prevent alternative (mutant) strategies from replacing it (although this does not preclude the possibility that a better strategy, or set of strategies, will emerge in response to selective pressures resulting from environmental change).

Formal epistemology uses formal methods from decision theory, logic, probability theory and computability theory to model and reason about issues of epistemological interest. Work in this area spans several academic fields, including philosophy, computer science, economics, and statistics. The focus of formal epistemology has tended to differ somewhat from that of traditional epistemology, with topics like uncertainty, induction, and belief revision garnering more attention than the analysis of knowledge, skepticism, and issues with justification. Formal epistemology extenuates into formal language theory.

Social science (not often rendered in the plural as the social sciences) is one of the branches of science, devoted to the study of societies and the relationships among members within those societies. The term was formerly used to refer to the field of sociology, the original "science of society", established in the 18th century. It now encompasses a wide array of additional academic disciplines, including anthropology, archaeology, economics, geography, history, linguistics, management, communication studies, psychology, culturology, and political science.

The majority of positivist social scientists use methods resembling those used in the natural sciences as tools for understanding societies, and so define science in its stricter modern sense. Speculative social scientists, otherwise known as interpretivist scientists, by contrast, may use social critique or symbolic interpretation rather than constructing empirically falsifiable theories, and thus treat science in its broader sense. In modern academic practice, researchers are often eclectic, using multiple methodologies (combining both quantitative and qualitative research). To gain a deeper understanding of complex human behavior in digital environments, social science disciplines have increasingly integrated interdisciplinary approaches, big data, and computational tools. The term social research has also acquired a degree of autonomy as practitioners from various disciplines share similar goals and methods.

In economics, the primary sector is the economic sector which comprises industry involved in the extraction and production of raw materials, such as farming, logging, fishing, forestry and mining. The primary sector tends to make up a larger portion of the economy in developing countries than it does in developed countries. For example, in 2018, agriculture, forestry, and fishing comprised more than 15% of GDP in sub-Saharan Africa but less than 1% of GDP in North America.

In developed countries the primary sector has become more technologically advanced, enabling for example the mechanization of farming, as compared with lower-tech methods in poorer countries. More developed economies may invest additional capital in primary means of production: for example, in the United States Corn Belt, combine harvesters pick the corn, and sprayers spray large amounts of insecticides, herbicides and fungicides, producing a higher yield than is possible using less capital-intensive techniques. These technological advances and investment allow the primary sector to employ a smaller workforce, so developed countries tend to have a smaller percentage of their workforce involved in primary activities, instead having a higher percentage involved in the secondary and tertiary sectors.

Political economy—sometimes referred to as comparative economy—is a branch of political science and economics that studies economic systems (such as markets and national economies) and how they are governed by political systems, including laws, institutions, and governments.

The discipline analyzes phenomena such as labour markets, international trade, growth, the distribution of wealth, and economic inequality, as well as the ways in which these are shaped by political institutions, legal frameworks, and public policy. Emerging in the 18th century, political economy is regarded as the precursor to the modern discipline of economics.

A role (also rôle or social role) is a set of connected behaviors, rights, obligations, beliefs, and norms as conceptualized by people in a social situation. It is an expected or free or continuously changing behavior and may have a given individual social status or social position. It is vital to both functionalist and interactionist understandings of society. Social role theory posits the following about social behavior:

1. The division of labour in society takes the form of the interaction among heterogeneous specialized positions, we call roles.
2. Social roles included appropriate and permitted forms of behavior and actions that recur in a group, guided by social norms, which are commonly known and hence determine the expectations for appropriate behavior in these roles, which further explains the position of a person in the society.
3. Roles are occupied by individuals, who are called actors.
4. When individuals approve of a social role (i.e., they consider the role legitimate and constructive), they will incur costs to conform to role norms, and will also incur costs to punish those who violate role norms.
5. Changed conditions can render a social role outdated or illegitimate, in which case social pressures are likely to lead to role change.
6. The anticipation of rewards and punishments, as well as the satisfaction of behaving pro-socially, account for why agents conform to role requirements.

The notion of the role can be and is examined in the social sciences, specifically economics, sociology and organizational theory.

In transportation, cargo refers to goods transported by land, water or air, while freight refers to its conveyance. In economics, freight refers to goods transported at a freight rate for commercial gain. The term cargo is also used in case of goods in the cold-chain, because the perishable inventory is always in transit towards a final end-use, even when it is held in cold storage or other similar climate-controlled facilities, including warehouses.

Multi-modal container units, designed as reusable carriers to facilitate unit load handling of the goods contained, are also referred to as cargo, especially by shipping lines and logistics operators. When empty containers are shipped each unit is documented as a cargo and when goods are stored within, the contents are termed containerized cargo. Similarly, aircraft ULD boxes are also documented as cargo, with an associated packing list of the items contained within.

In economics, a government monopoly or public monopoly is a form of coercive monopoly in which a government agency or government corporation is the sole provider of a particular good or service and competition is prohibited by law. It is a monopoly created, owned, and operated by the government. It is usually distinguished from a government-granted monopoly, where the government grants a monopoly to a private individual or company.

A government monopoly may be run by any level of government—national, regional, local; for levels below the national, it is a local monopoly. The term 'state monopoly' usually means a government monopoly run by the national government.

Work or labour (labor in American English) is the intentional activity people perform to support the needs and desires of themselves, other people, and/or organizations. In the context of economics, work can be seen as the human activity that contributes (along with other factors of production) towards the goods and services within an economy.

Work has existed in all human societies, either as paid or unpaid work, from gathering natural resources by hand in hunter-gatherer groups to operating complex technologies that substitute for physical or even mental effort within an agricultural, industrial, or post-industrial society. One's regular participation or role in work is an occupation, or job. All but the simplest tasks in any work require specific skills, tools, and other resources, such as material for manufacturing goods. Humanity has developed a variety of institutions for group coordination of work, such as government programs, nonprofit organizations, cooperatives, and corporations.