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The Sveriges Riksbank Prize in Economic Sciences in Memory of Alfred Nobel 1984 was awarded to Richard Stone for having made fundamental contributions to the development of systems of national accounts and hence greatly improved the basis for empirical economic analysis.

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Q: Why did Richard Stone win The Prize in Economic Sciences in 1984?
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The expression The Stone Age didn't end because we ran out of stones is often used in discussing what economic issue?

The expression relates to a concept in Economics know as "creative destruction". This concept describes a process in which industries based on old technology are replaced by industries based on new technology, and with a better result for everyone overall. In this case, the Stone Age ended because stone tools were replaced by bronze tools, and thus began the Bronze Age. When industries seek protection against new competitive technologies, this expression is used to point out that regulation providing protection is not in everyone's best interest.


What is more expensive a diamond or an emerald?

Stone for stone, a diamond is more expensive than an emerald.


How does One Smooth Stone deliver Return on Investment to its clients?

how does one smooth stone deliver return on investments to its clients


What are the resources of major economic importance in California?

According to Prentice Hall, Earth Science, California Edition, California has mineral, energy and soil resources of great economic importance. Sand and gravel, cement, crushed stone and boron minerals are major industrial minerals. In California there is oil, natural gas and geothermal energy, this makes California a leader in energy resources. Last California's soil resources which in turn feeds people thoughout the nation. You can also include water as a major resource without it NO FOOD!


How did the stone age run the Economy?

hi ive been studying the stone age paradigm so far ive learned that the economywas basely on hunting and gathering

Related questions

Who won The Prize in Economic Sciences in 1984?

Richard Stone won The Prize in Economic Sciences in 1984.


What Nobel Prize did Richard Stone win and when was it awarded?

Richard Stone won The Prize in Economic Sciences in 1984.


What is Richard Stone's birthday?

Richard Stone was born on August 30, 1913.


When was Richard Stone born?

Richard Stone was born on August 30, 1913.


When was Richard Stone - composer - born?

Richard Stone - composer - was born in 1953.


When did Richard Stone - composer - die?

Richard Stone - composer - died in 2001.


When was Richard Stone Reeves born?

Richard Stone Reeves was born in 1919.


When did Richard Stone Reeves die?

Richard Stone Reeves died in 2005.


What is Sir Richard Stone's birthday?

Sir Richard Stone was born on August 30, 1913.


When was Sir Richard Stone born?

Sir Richard Stone was born on August 30, 1913.


When was Richard Stone - fencer - born?

Richard Stone - fencer - was born on 1926-09-15.


When was Richard Stone - rugby league - born?

Richard Stone - rugby league - was born in 1950.