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Kristol Argues That Capitalism Got a "Bad Name" Because Economists

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Kristol argues that capitalism got a "bad name" because economists shifted their focus from an analysis of production to an analysis of:


Definitions:

Marginal Revenue Product

Incremental income produced from the application of one additional unit of resources such as labor or capital.

Derived Demand

Demand for a commodity, service, etc., that is a consequence of the demand for something else.

Inputs Demand

The requirement for resources and materials necessary to produce goods and services in an economy.

Secondary Demand

The desire for products and services that derive from the demand for another product or service.

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