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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 economics, normative rather than just explanatory in its approach, whereas the aim of economic theories is to create accurate explanatory Economic model, 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 (normati ...
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Ideology
An ideology is a set of beliefs or values attributed to a person or group of persons, especially those held for reasons that are not purely about belief in certain knowledge, in which "practical elements are as prominent as theoretical ones". Formerly applied primarily to Economy, economic, Political philosophy, political, or Religion, religious theories and policies, in a tradition going back to Karl Marx and Friedrich Engels, more recent use treats the term as mainly condemnatory. The term was coined by Antoine Destutt de Tracy, a French Enlightenment aristocrat and philosopher, who conceived it in 1796 as the "science of ideas" to develop a rational system of ideas to oppose the irrational impulses of the mob. In political science, the term is used in a Linguistic description, descriptive sense to refer to List of political ideologies, political belief systems. Etymology The term ''ideology'' originates from French language, French , itself coined from combining (; close to ...
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Quran
The Quran, also Romanization, romanized Qur'an or Koran, is the central religious text of Islam, believed by Muslims to be a Waḥy, revelation directly from God in Islam, God (''Allah, Allāh''). It is organized in 114 chapters (, ) which consist of individual verses ('). Besides its religious significance, it is widely regarded as the finest work in Arabic literature, and has significantly influenced the Arabic, Arabic language. It is the object of a modern field of academic research known as Quranic studies. Muslims believe the Quran was orally revealed by God to the final Islamic Prophets and messengers in Islam, prophet Muhammad in Islam, Muhammad through the Angel#Islam, angel Gabriel#Islam, Gabriel incrementally over a period of some 23 years, beginning on the Night of Power, Laylat al-Qadr, when Muhammad was 40, and concluding in 632, the year of his death. Muslims regard the Quran as Muhammad's most important Islamic view of miracles, miracle, a proof of his prophet ...
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Emirate Of Sicily
The island of SicilyIn Arabic, the island was known as (). was under Islam, Islamic rule from the late ninth to the late eleventh centuries. It became a prosperous and influential commercial power in the Mediterranean Sea, Mediterranean, with its capital of Palermo serving as a major cultural and political center of the Muslim world. Sicily was a peripheral part of the Byzantine Empire when Muslim forces from Ifriqiya (roughly present-day Tunisia) began launching raids in 652. During the reign of the Aghlabid dynasty of Ifriqiya, a Muslim conquest of Sicily, prolonged series of conflicts from 827 to 902 resulted in the gradual conquest of the entire island, with only the stronghold of Rometta, in the far northeast, Siege of Rometta, holding out until 965. The Fatimid Caliphate replaced Aghlabid rule after 909. From 948 onwards, the island was governed by the Kalbid dynasty, who ruled as autonomous emirs while formally acknowledging Fatimid authority. Under Muslim rule, Sicily ...
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Al-Andalus
Al-Andalus () was the Muslim-ruled area of the Iberian Peninsula. The name refers to the different Muslim states that controlled these territories at various times between 711 and 1492. At its greatest geographical extent, it occupied most of the peninsula as well as Septimania under Umayyad rule. These boundaries changed through a series of conquests Western historiography has traditionally characterized as the ''Reconquista'',"Para los autores árabes medievales, el término Al-Andalus designa la totalidad de las zonas conquistadas – siquiera temporalmente – por tropas arabo-musulmanas en territorios actualmente pertenecientes a Portugal, España y Francia" ("For medieval Arab authors, Al-Andalus designated all the conquered areas – even temporarily – by Arab-Muslim troops in territories now belonging to Spain, Portugal and France"), García de Cortázar, José Ángel. ''V Semana de Estudios Medievales: Nájera, 1 al 5 de agosto de 1994'', Gobie ...
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Brill Publishers
Brill Academic Publishers () is a Dutch international academic publisher of books, academic journals, and Bibliographic database, databases founded in 1683, making it one of the oldest publishing houses in the Netherlands. Founded in the South Holland city of Leiden, it maintains its headquarters there, while also operating offices in Boston, Paderborn, Vienna, Singapore, and Beijing. Since 1896, Brill has been a public limited company (). Brill is especially known for its work in subject areas such as Oriental studies, classics, religious studies, Jewish studies, Islamic studies, Asian studies, international law, and human rights. The publisher offers traditional print books, academic journals, primary source materials online, and publications on microform. In recent decades, Brill has expanded to Electronic publishing, digital publishing with ebooks and online resources including databases and specialty collections varying by discipline. History Founding by Luchtmans, 16 ...
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Islamic Golden Age
The Islamic Golden Age was a period of scientific, economic, and cultural flourishing in the history of Islam, traditionally dated from the 8th century to the 13th century. This period is traditionally understood to have begun during the reign of the Abbasid Caliphate, Abbasid caliph Harun al-Rashid (786 to 809) with the inauguration of the House of Wisdom, which saw Ulama, scholars from all over the Muslim world flock to Baghdad, the world's largest city at the time, to translate the known world's classical knowledge into Arabic and Persian language, Persian. The period is traditionally said to have ended with the collapse of the Abbasid caliphate due to Mongol invasions and conquests, Mongol invasions and the Siege of Baghdad (1258), Siege of Baghdad in 1258. There are a few alternative timelines. Some scholars extend the end date of the golden age to around 1350, including the Timurid Renaissance within it, while others place the end of the Islamic Golden Age as late as the en ...
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Mercantilism
Mercantilism is a economic nationalism, nationalist economic policy that is designed to maximize the exports and minimize the imports of an economy. It seeks to maximize the accumulation of resources within the country and use those resources for unilateralism, one-sided trade. The concept aims to reduce a possible current account (balance of payments), current account deficit or reach a current account surplus, and it includes measures aimed at accumulating foreign-exchange reserves, monetary reserves by a positive balance of trade, especially of finished goods. Historically, such policies may have contributed to war and motivated colonialism, colonial expansion. Mercantilist theory varies in sophistication from one writer to another and has evolved over time. Mercantilism promotes government regulation of a nation's economy for the purpose of augmenting and bolstering state power at the expense of rival national powers. High tariffs, especially on manufactured goods, were a ...
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Goods And Services
Goods are items that are usually (but not always) tangible, such as pens or Apple, apples. Services are activities provided by other people, such as teachers or barbers. Taken together, it is the Production (economics), production, distribution (economics), distribution, and Consumption (economics), consumption of goods and Service (economics), services which underpins all economic activity and trade. According to Economics, economic theory, consumption of goods and services is assumed to provide utility (satisfaction) to the consumer or end-user, although businesses also Distribution (marketing)#Channels and intermediaries, consume goods and services in the course of producing their own. History Physiocracy, Physiocratic economists categorized production into productive labour and unproductive labour. Adam Smith expanded this thought by arguing that any economic activities directly related to material products (goods) were productive, and those activities which involved no ...
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Consumption (economics)
Consumption refers to the use of resources to fulfill present needs and desires. It is seen in contrast to investing, which is spending for acquisition of ''future'' income. Consumption is a major concept in economics and is also studied in many other social sciences. Different schools of economists define consumption differently. According to mainstream economics, mainstream economists, only the final purchase of newly produced Good (economics), goods and Service (economics), services by individuals for immediate use constitutes consumption, while other types of expenditure — in particular, fixed investment, intermediate consumption, and government spending — are placed in separate categories (see consumer choice). Other economists define consumption much more broadly, as the aggregate of all economic activity that does not entail the design, production and marketing of goods and services (e.g., the selection, adoption, use, disposal and recycling of goods and services). E ...
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Distribution (economics)
In economics, distribution is the way total output, income, or wealth is distributed among individuals or among the factors of production (such as labour, land, and capital). In general theory and in for example the U.S. National Income and Product Accounts, each unit of output corresponds to a unit of income. One use of national accounts is for classifying factor incomes and measuring their respective shares, as in national Income. But, where focus is on income of ''persons'' or ''households'', adjustments to the national accounts or other data sources are frequently used. Here, interest is often on the fraction of income going to the top (or bottom) ''x'' percent of households, the next ''x'' percent, and so forth (defined by equally spaced cut points, say quintiles), and on the factors that might affect them (globalization, tax policy, technology, etc.). History Distribution has been central in the study of political economy since the 19th century, as shown in scholarship ...
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Production (economics)
Production is the process of combining various inputs, both material (such as metal, wood, glass, or plastics) and immaterial (such as plans, or knowledge) in order to create output. Ideally this output (economics), output will be a goods and services, good or service which has value (economics), value and contributes to the utility (economics), utility of individuals. The area of economics that focuses on production is called production theory, and it is closely related to the consumption (or consumer) theory of economics. The production process and output directly result from productively utilising the original inputs (or factors of production). Known as primary producer goods or services, land, labour, and capital are deemed the three fundamental factors of production. These primary inputs are not significantly altered in the output process, nor do they become a whole component in the product. Under classical economics, materials and energy are categorised as secondary factors a ...
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Economics
Economics () is a behavioral science that studies the Production (economics), production, distribution (economics), distribution, and Consumption (economics), consumption of goods and services. Economics focuses on the behaviour and interactions of Agent (economics), economic agents and how economy, economies work. Microeconomics analyses what is viewed as basic elements within economy, economies, including individual agents and market (economics), markets, their interactions, and the outcomes of interactions. Individual agents may include, for example, households, firms, buyers, and sellers. Macroeconomics analyses economies as systems where production, distribution, consumption, savings, and Expenditure, investment expenditure interact; and the factors of production affecting them, such as: Labour (human activity), labour, Capital (economics), capital, Land (economics), land, and Entrepreneurship, enterprise, inflation, economic growth, and public policies that impact gloss ...
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