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Cobdenite
Cobdenism is an economic ideology (and the associated popular movement) which perceives international free trade and a non-interventionist foreign policy as the key requirements for prosperity and world peace. It is named after the British statesman and economist Richard Cobden and had its heyday of political influence in the British Empire during the mid-19th century, amidst and after the endeavour to abolish the Corn Laws. Based on Adam Smith's assertion that full employment and economic growth require access to foreign markets, Cobden perceived the expansion of foreign trade as the main means of increasing global prosperity and emphasized the importance of the international division of labour for economic progress. Akin to his ideal of Britain as an industrial society of small cooperating property owners, he believed in an international order of small, independent nations attaining shared prosperity through international trade. As Cobden saw Britain's involvement in empire as a ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Adam Smith
Adam Smith (baptized 1723 – 17 July 1790) was a Scottish economist and philosopher who was a pioneer in the thinking of political economy and key figure during the Scottish Enlightenment. Seen by some as "The Father of Economics"——— or "The Father of Capitalism",———— he wrote two classic works, ''The Theory of Moral Sentiments'' (1759) and ''The Wealth of Nations, An Inquiry into the Nature and Causes of the Wealth of Nations'' (1776). The latter, often abbreviated as ''The Wealth of Nations'', is considered his ''magnum opus'' and the first modern work that treats economics as a comprehensive system and as an academic discipline. Smith refuses to explain the distribution of wealth and power in terms of God's will, God’s will and instead appeals to natural, political, social, economic and technological factors and the interactions between them. Among other economic theories, the work introduced Smith's idea of absolute advantage. Smith studied social philos ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Richard Cobden
Richard Cobden (3 June 1804 – 2 April 1865) was an English Radical and Liberal politician, manufacturer, and a campaigner for free trade and peace. He was associated with the Anti-Corn Law League and the Cobden–Chevalier Treaty. As a young man, Cobden was a successful commercial traveller who became co-owner of a highly profitable calico printing factory in Sabden but lived in Manchester, a city with which he would become strongly identified. However, he soon found himself more engaged in politics, and his travels convinced him of the virtues of free trade (anti-protection) as the key to better international relations. In 1838, he and John Bright founded the Anti-Corn Law League, aimed at abolishing the unpopular Corn Laws, which protected landowners' interests by levying taxes on imported wheat, thus raising the price of bread. As a Member of Parliament from 1841, he fought against opposition from the Peel ministry, and abolition was achieved in 1846. Another free trade ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Economic Ideology
An economic ideology is a set of views forming the basis of an ideology on how the economy should run. It differentiates itself from economic theory in being normative rather than just explanatory in its approach, whereas the aim of economic theories is to create accurate explanatory models to describe how an economy currently functions. However, the two are closely interrelated, as underlying economic ideology influences the methodology and theory employed in analysis. The diverse ideology and methodology of the 74 Nobel laureates in economics speaks to such interrelation. A good way of discerning whether an ideology can be classified an economic ideology is to ask if it inherently takes a specific and detailed economic standpoint. Furthermore, economic ideology is distinct from an economic system that it supports, such as capitalism, to the extent that explaining an economic system (positive economics) is distinct from advocating it (normative economics). The theory of econom ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Free Trade
Free trade is a trade policy that does not restrict imports or exports. It can also be understood as the free market idea applied to international trade. In government, free trade is predominantly advocated by political parties that hold economically liberal positions, while economic nationalist and left-wing political parties generally support protectionism, the opposite of free trade. Most nations are today members of the World Trade Organization multilateral trade agreements. Free trade was best exemplified by the unilateral stance of Great Britain who reduced regulations and duties on imports and exports from the mid-nineteenth century to the 1920s. An alternative approach, of creating free trade areas between groups of countries by agreement, such as that of the European Economic Area and the Mercosur open markets, creates a protectionist barrier between that free trade area and the rest of the world. Most governments still impose some protectionist policies that are inte ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Non-interventionism
Non-interventionism or non-intervention is a political philosophy or national foreign policy doctrine that opposes interference in the domestic politics and affairs of other countries but, in contrast to isolationism, is not necessarily opposed to international commitments in general. A 1915 definition is that non-interventionism is a policy characterized by the absence of "interference by a state or states in the external affairs of another state without its consent, or in its internal affairs with or without its consent". This is based on the grounds that a state should not interfere in the internal politics of another state as well as the principles of state sovereignty and self-determination. A similar phrase is "strategic independence". History The norm of non-intervention has dominated the majority of international relations and can be seen to have been one of the principal motivations for the US's initial non-intervention into World Wars I and II, and the non-interven ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
British Empire
The British Empire was composed of the dominions, colonies, protectorates, mandates, and other territories ruled or administered by the United Kingdom and its predecessor states. It began with the overseas possessions and trading posts established by England between the late 16th and early 18th centuries. At its height it was the largest empire in history and, for over a century, was the foremost global power. By 1913, the British Empire held sway over 412 million people, of the world population at the time, and by 1920, it covered , of the Earth's total land area. As a result, its constitutional, legal, linguistic, and cultural legacy is widespread. At the peak of its power, it was described as "the empire on which the sun never sets", as the Sun was always shining on at least one of its territories. During the Age of Discovery in the 15th and 16th centuries, Portugal and Spain pioneered European exploration of the globe, and in the process established large overse ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Corn Laws
The Corn Laws were tariffs and other trade restrictions on imported food and corn enforced in the United Kingdom between 1815 and 1846. The word ''corn'' in British English denotes all cereal grains, including wheat, oats and barley. They were designed to keep corn prices high to favour domestic producers, and represented British mercantilism. The Corn Laws blocked the import of cheap corn, initially by simply forbidding importation below a set price, and later by imposing steep import duties, making it too expensive to import it from abroad, even when food supplies were short. The House of Commons passed the corn law bill on March 10, 1815, the House of Lords on March 20 and the bill received Royal assent on March 23, 1815. The Corn Laws enhanced the profits and political power associated with land ownership. The laws raised food prices and the costs of living for the British public, and hampered the growth of other British economic sectors, such as manufacturing, by reducing t ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Full Employment
Full employment is a situation in which there is no cyclical or unemployment#Cyclical unemployment, deficient-demand unemployment. Full employment does not entail the disappearance of all unemployment, as other kinds of unemployment, namely Structural unemployment, structural and Frictional unemployment, frictional, may remain. For instance, workers who are "between jobs" for short periods of time as they search for better employment are not counted against full employment, as such unemployment is frictional rather than cyclical. An economy with full employment might also have unemployment or underemployment where part-time workers cannot find jobs appropriate to their skill level, as such unemployment is considered structural rather than cyclical. Full employment marks the point past which expansionary fiscal and/or monetary policy cannot reduce unemployment any further without causing inflation. Some economists define full employment somewhat differently, as the unemployment rate ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Anti-imperialism
Anti-imperialism in political science and international relations is a term used in a variety of contexts, usually by nationalist movements who want to secede from a larger polity (usually in the form of an empire, but also in a multi-ethnic sovereign state) or as a specific theory opposed to capitalism in Leninist discourse, derived from Vladimir Lenin's work ''Imperialism, the Highest Stage of Capitalism''. Less common usage refers to opponents of an interventionist foreign policy. People who categorize themselves as anti-imperialists often state that they are opposed to colonialism, colonial empires, hegemony, imperialism and the territorial expansion of a country beyond its established borders. An influential movement independent of the Western Left that advocated religious anti-imperialism was Pan-Islamism; which challenged the Western civilisational model and rose to prominence across various parts of the Islamic World during the 19th and 20th centuries. It's most in ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
John A
Sir John Alexander Macdonald (January 10 or 11, 1815 – June 6, 1891) was the first prime minister of Canada, serving from 1867 to 1873 and from 1878 to 1891. The dominant figure of Canadian Confederation, he had a political career that spanned almost half a century. Macdonald was born in Scotland; when he was a boy his family immigrated to Kingston in the Province of Upper Canada (today in eastern Ontario). As a lawyer, he was involved in several high-profile cases and quickly became prominent in Kingston, which elected him in 1844 to the legislature of the Province of Canada. By 1857, he had become premier under the colony's unstable political system. In 1864, when no party proved capable of governing for long, Macdonald agreed to a proposal from his political rival, George Brown, that the parties unite in a Great Coalition to seek federation and political reform. Macdonald was the leading figure in the subsequent discussions and conferences, which resulted in the Brit ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
John Maynard Keynes
John Maynard Keynes, 1st Baron Keynes, ( ; 5 June 1883 – 21 April 1946), was an English economist whose ideas fundamentally changed the theory and practice of macroeconomics and the economic policies of governments. Originally trained in mathematics, he built on and greatly refined earlier work on the causes of business cycles. One of the most influential economists of the 20th century, he produced writings that are the basis for the school of thought known as Keynesian economics, and its various offshoots. His ideas, reformulated as New Keynesianism, are fundamental to mainstream macroeconomics. Keynes's intellect was evident early in life; in 1902, he gained admittance to the competitive mathematics program at King's College at the University of Cambridge. During the Great Depression of the 1930s, Keynes spearheaded a revolution in economic thinking, challenging the ideas of neoclassical economics that held that free markets would, in the short to medium term, a ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
First World War
World War I (28 July 1914 11 November 1918), often abbreviated as WWI, was one of the deadliest global conflicts in history. Belligerents included much of Europe, the Russian Empire, the United States, and the Ottoman Empire, with fighting occurring throughout Europe, the Middle East, Africa, the Pacific, and parts of Asia. An estimated 9 million soldiers were killed in combat, plus another 23 million wounded, while 5 million civilians died as a result of military action, hunger, and disease. Millions more died in genocides within the Ottoman Empire and in the 1918 influenza pandemic, which was exacerbated by the movement of combatants during the war. Prior to 1914, the European great powers were divided between the Triple Entente (comprising France, Russia, and Britain) and the Triple Alliance (containing Germany, Austria-Hungary, and Italy). Tensions in the Balkans came to a head on 28 June 1914, following the assassination of Archduke Franz Ferdina ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
