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Socialist Economy
Socialist economics comprises the economic theories, practices and norms of hypothetical and existing socialist economic systems. A socialist economic system is characterized by social ownership and operation of the means of production that may take the form of autonomous cooperatives or direct public ownership wherein production is carried out directly for use rather than for profit. Socialist systems that utilize markets for allocating capital goods and factors of production among economic units are designated market socialism. When planning is utilized, the economic system is designated as a socialist planned economy. Non-market forms of socialism usually include a system of accounting based on calculation-in-kind to value resources and goods. Socialist economics has been associated with different schools of economic thought. Marxian economics provided a foundation for socialism based on analysis of capitalism while neoclassical economics and evolutionary economics provided c ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Socialist
Socialism is a left-wing economic philosophy and movement encompassing a range of economic systems characterized by the dominance of social ownership of the means of production as opposed to private ownership. As a term, it describes the economic, political and social theories and movements associated with the implementation of such systems. Social ownership can be state/public, community, collective, cooperative, or employee. While no single definition encapsulates the many types of socialism, social ownership is the one common element. Different types of socialism vary based on the role of markets and planning in resource allocation, on the structure of management in organizations, and from below or from above approaches, with some socialists favouring a party, state, or technocratic-driven approach. Socialists disagree on whether government, particularly existing government, is the correct vehicle for change. Socialist systems are divided into non-market and market f ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Neoclassical Economics
Neoclassical economics is an approach to economics in which the production, consumption and valuation (pricing) of goods and services are observed as driven by the supply and demand model. According to this line of thought, the value of a good or service is determined through a hypothetical maximization of utility by income-constrained individuals and of profits by firms facing production costs and employing available information and factors of production. This approach has often been justified by appealing to rational choice theory, a theory that has come under considerable question in recent years. Neoclassical economics historically dominated macroeconomics and, together with Keynesian economics, formed the neoclassical synthesis which dominated mainstream economics as "neo-Keynesian economics" from the 1950s to the 1970s.Clark, B. (1998). ''Principles of political economy: A comparative approach''. Westport, Connecticut: Praeger. Nadeau, R. L. (2003). ''The Wealth of Na ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Pierre-Joseph Proudhon
Pierre-Joseph Proudhon (, , ; 15 January 1809, Besançon – 19 January 1865, Paris) was a French socialist,Landauer, Carl; Landauer, Hilde Stein; Valkenier, Elizabeth Kridl (1979) 959 "The Three Anticapitalistic Movements". ''European Socialism: A History of Ideas and Movements from the Industrial Revolution to Hitler's Seizure of Power''. University of California Press. pp. 59, 63. "In France, post-Utopian socialism begins with Peter Joseph Proudhon. .. roudhonwas the most profound thinker among pre-Marxian socialists."Eatwell, Roger; Wright, Anthony (1999). ''Contemporary Political Ideologies'' (2nd ed.). London: Continuum. p. 82. .Newman, Michael (2005). ''Socialism: A Very Short Introduction''. Oxford University Press. p. 15. .Docherty, James C.; Lamb, Peter, eds. (2006). ''Historical Dictionary of Socialism''. Historical Dictionaries of Religions, Philosophies, and Movements. 73 (2nd ed.). Lanham, Maryland: The Scarecrow Press. p. 284. . See also Lamb, Peter (2015). ''H ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Ricardian Socialists
Ricardian socialism is a branch of classical economic thought based upon the work of the economist David Ricardo (1772–1823). The term is used to describe economists in the 1820s and 1830s who developed a theory of capitalist exploitation from the theory developed by Ricardo that stated that labor is the source of all wealth and exchange value. This principle extends back to the principles of English philosopher John Locke. The Ricardian socialists reasoned that labor is entitled to all it produces, and that rent, profit and interest were not natural outgrowths of the free market process but were instead distortions. They argued that private ownership of the means of production should be supplanted by cooperatives owned by associations of workers. This designation is used in reference to economists in the early 19th century that elaborated a theory of capitalist exploitation from the classical economic proposition derived from Adam Smith and David Ricardo stating that labo ... [...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] |
Classical Economics
Classical economics, classical political economy, or Smithian economics is a school of thought in political economy that flourished, primarily in Britain, in the late 18th and early-to-mid 19th century. Its main thinkers are held to be Adam Smith, Jean-Baptiste Say, David Ricardo, Thomas Robert Malthus, and John Stuart Mill. These economists produced a theory of market economies as largely self-regulating systems, governed by natural laws of production and exchange (famously captured by Adam Smith's metaphor of the invisible hand). Adam Smith's ''The Wealth of Nations'' in 1776 is usually considered to mark the beginning of classical economics.Smith, Adam (1776) An Inquiry into the Nature and Causes of The Wealth of Nations. (accessible by table of contents chapter titles) AdamSmith.org The fundamental message in Smith's book was that the wealth of any nation was determined not by the gold in the monarch's coffers, but by its national income. This income was in turn based on the ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Benjamin Tucker
Benjamin Ricketson Tucker (; April 17, 1854 – June 22, 1939) was an American individualist anarchist and libertarian socialist.Martin, James J. (1953)''Men Against the State: The Expositers of Individualist Anarchism in America, 1827–1908'' Auburn: Mises Institute. pp. 202–233. . Tucker was the editor and publisher of the periodical '''' (1881–1908 ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Individualist Anarchist
Individualist anarchism is the branch of anarchism that emphasizes the individual and their Will (philosophy), will over external determinants such as groups, society, traditions and ideological systems."What do I mean by individualism? I mean by individualism the moral doctrine which, relying on no dogma, no tradition, no external determination, appeals only to the individual conscience"''Mini-Manual of Individualism''by Han Ryner "I do not admit anything except the existence of the individual, as a condition of his sovereignty. To say that the sovereignty of the individual is conditioned by Liberty is simply another way of saying that it is conditioned by itself. "Anarchism and the State" in ''Individual Liberty'' Although usually contrasted to social anarchism, both individualist and social anarchism have influenced each other. Mutualism (economic theory), Mutualism, an economic theory particularly influential within individualist anarchism whose pursued Liberty#Socialism, lib ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Socialist State
A socialist state, socialist republic, or socialist country, sometimes referred to as a workers' state or workers' republic, is a Sovereign state, sovereign State (polity), state constitutionally dedicated to the establishment of socialism. The term ''communist state'' is often used synonymously in the Western Bloc, West specifically when referring to one-party socialist states governed by Marxist–Leninist communist parties, despite these countries being officially socialist states in the process of building Socialist mode of production, socialism and progressing toward a communist society. These countries never describe themselves as ''communist'' nor as having implemented a communist society. Additionally, a number of countries that are multi-party capitalist states make Socialism in liberal democratic constitutions, references to socialism in their constitutions, in most cases alluding to the building of a socialist society, naming socialism, claiming to be a socialist state ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
János Kornai
János Kornai (21 January 1928 – 18 October 2021) was a Hungarian economist noted for his analysis and criticism of the command economies of Eastern European communist states. He also covered macroeconomic aspects in countries undergoing post-Soviet transition. He was emeritus professor at both Harvard University and Corvinus University of Budapest. Kornai was known to have coined the term shortage economy to reflect perpetual shortages of goods in the centrally-planned command economies of the Eastern Bloc. Biography Kornai was born János Kornhauser on 21 January 1928 in Budapest in a well-to-do Hungarian-Jewish family. The family spent time in an internment camp during the Nazi occupation of Hungary. His father was sent for slave labour and later killed at Auschwitz. Kornai studied philosophy for two years at Pázmány Péter University (now Eötvös Loránd University) in Budapest. Kornai gained his knowledge of economics on his own, and later held a candidate degree ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
A Dictionary Of Economics
A, or a, is the first letter and the first vowel of the Latin alphabet, used in the modern English alphabet, the alphabets of other western European languages and others worldwide. Its name in English is ''a'' (pronounced ), plural ''aes''. It is similar in shape to the Ancient Greek letter alpha, from which it derives. The uppercase version consists of the two slanting sides of a triangle, crossed in the middle by a horizontal bar. The lowercase version can be written in two forms: the double-storey a and single-storey ɑ. The latter is commonly used in handwriting and fonts based on it, especially fonts intended to be read by children, and is also found in italic type. In English grammar, " a", and its variant " an", are indefinite articles. History The earliest certain ancestor of "A" is aleph (also written 'aleph), the first letter of the Phoenician alphabet, which consisted entirely of consonants (for that reason, it is also called an abjad to distinguish it fro ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Institutional Economics
Institutional economics focuses on understanding the role of the Sociocultural evolution, evolutionary process and the role of institutions in shaping Economy, economic Human behavior, behavior. Its original focus lay in Thorstein Veblen's instinct-oriented dichotomy between technology on the one side and the "ceremonial" sphere of society on the other. Its name and core elements trace back to a 1919 ''American Economic Review'' article by Walton H. Hamilton. Institutional economics emphasizes a broader study of institutions and views markets as a result of the complex interaction of these various institutions (e.g. individuals, firms, states, social norms). The earlier tradition continues today as a leading Heterodox economics, heterodox approach to economics.Warren J. Samuels ([1987] 2008). "institutional economics," ''The New Palgrave: A Dictionary of Economics''Abstract. "Traditional" institutionalism rejects the ''reduction'' of institutions to simply tastes, technology, and ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
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