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Sustainable Capitalism
Sustainable capitalism is a conceptual form of capitalism based upon sustainable practices that seek to preserve humanity and the planet, while reducing externalities and bearing a resemblance of capitalist economic policy. A capitalistic economy must expand to survive and find new markets to support this expansion. Capitalist systems are often destructive to the environment as well as certain individuals without access to proper representation. However, sustainability provides quite the opposite; it implies not only a continuation, but a replenishing of resources. Sustainability is often thought of to be related to environmentalism, and sustainable capitalism applies sustainable principles to economic governance and social aspects of capitalism as well. The importance of sustainable capitalism has been more recently recognized, but the concept is not new. Changes to the current economic model would have heavy social environmental and economic implications and require the efforts of ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Capitalism
Capitalism is an economic system based on the private ownership of the means of production and their operation for profit. Central characteristics of capitalism include capital accumulation, competitive markets, price system, private property, property rights recognition, voluntary exchange, and wage labor. In a market economy, decision-making and investments are determined by owners of wealth, property, or ability to maneuver capital or production ability in capital and financial markets—whereas prices and the distribution of goods and services are mainly determined by competition in goods and services markets. Economists, historians, political economists and sociologists have adopted different perspectives in their analyses of capitalism and have recognized various forms of it in practice. These include ''laissez-faire'' or free-market capitalism, anarcho-capitalism, state capitalism and welfare capitalism. Different forms of capitalism feature varying ... [...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 o ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Green Gross Domestic Product
The green gross domestic product (green GDP or GGDP) is an index of economic growth with the environmental consequences of that growth factored into a country's conventional GDP. Green GDP monetizes the loss of biodiversity, and accounts for costs caused by climate change. Some environmental experts prefer physical indicators (such as "waste per capita" or "carbon dioxide emissions per year"), which may be aggregated to indices such as the " Sustainable Development Index". Calculation Calculating green GDP requires that net natural capital consumption, including resource depletion, environmental degradation, and protective and restorative environmental initiatives, be subtracted from traditional GDP.Joseph Stiglitz, Amartya Sen and Jean-Paul Fitoussi"Report by the Commission on the Measurement of Economic Performance and Social Progress" "Commission on the Measurement of Economic Performance and Social Progress", 2008 Some early calculations of green GDP take into account one o ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Eco-capitalism
Eco-capitalism, also known as environmental capitalism or (sometimes) green capitalism, is the view that capital exists in nature as "natural capital" (ecosystems that have ecological yield) on which all wealth depends. Therefore, governments should use market-based policy-instruments (such as a carbon tax) to resolve environmental problems. The term "Blue Greens" is often applied to those who espouse eco-capitalism. Eco-capitalism can be thought of as the right-wing equivalent to Red Greens. Basic assumptions of capitalism - like continued economic growth - are not put to a test in the bright green environmentalism proponents' discourse. This, and the commodification of nature as a central element, has led to various criticisms of the idea. History The roots of eco-capitalism can be traced back to the late 1960s. The " Tragedy of the Commons", an essay published in 1968 in ''Science'' by Garrett Hardin, claimed the inevitability of malthusian catastrophe due to libe ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Conscious Business
Conscious business enterprises and people are those that choose to follow a business strategy, in which they seek to benefit both human beings and the environment. The conscious business movement in the US emerged from the theory of corporate social responsibility, which pushes for a "values-based" approach where values represent social and environmental concerns both locally and globally. This effort is related to not-just-for-profit business models, conscious consumerism, socially responsible investing, and Conscious capitalism. There is an alternative way of thinking about conscious business emerging in the UK, and perhaps other countries, which tries to avoid reification, regarding it less as a thing or a type of business which can be categorised, and more as an ongoing process including awareness, self-awareness, awareness of purpose, practice (social theory) and relationships. In Italy, De Nardi Gianluca illustrates through the use of business cases how every company ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Broad Measures Of Economic Progress
Although for many decades, it was customary to focus on GDP and other measures of national income, there has been growing interest in developing broad measures of economic well-being. National and international approaches include thBeyond GDPprogramme developed by the European Union, the Better Lives Compendium of Indicators developed by the OECD, as well as many alternative metrics of wellbeing or happiness. One of the earliest attempts to develop such an index at national level was Bhutan's Gross National Happiness Index and there are a now a number of similar projects ongoing around the world, including a project to develop for the UK an assessment of national well-being, commissioned by the Prime Minister David Cameron and led by the Office for National Statistics. GNH The Gross National Happiness (GNH) phrase was initially used as an off-hand remark by the King of Bhutan to indicate his lack of interest in western materialistic style of economic development. The implem ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Anti-capitalism
Anti-capitalism is a political ideology and movement encompassing a variety of attitudes and ideas that oppose capitalism. In this sense, anti-capitalists are those who wish to replace capitalism with another type of economic system, such as socialism or communism. Socialism Socialism advocates public or direct worker ownership and administration of the means of production and allocation of resources, and a society characterized by equal access to resources for all individuals, with an egalitarian method of compensation.''Newman, Michael''. (2005) ''Socialism: A Very Short Introduction'', Oxford University Press, # A theory or policy of social organisation which aims at or advocates the ownership and democratic control of the means of production, by workers or the community as a whole, and their administration or distribution in the interests of all. # Socialists argue for a worker cooperative/community economy, or the commanding heights of the economy, with democrati ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Analytical Marxism
Analytical Marxism is an approach to Marxist theory that was prominent amongst English-speaking philosophers and social scientists during the 1980s. Described by G. A. Cohen as "non-bullshit Marxism", members of this school seek to apply the techniques of analytic philosophy, along with tools of modern social science such as rational choice theory, to the elucidation of the theories of Karl Marx and his successors. It was mainly associated with the ''September Group'', which was organized on the initiative of the social and political theorist Jon Elster, the economist and political scientist John Roemer, and G. A. Cohen. The group was characterized, in the words of David Miller, by "clear and rigorous thinking about questions that are usually blanketed by ideological fog." Other prominent analytical Marxists include the sociologist Erik Olin Wright and the political scientist Adam Przeworski. Origin Cohen's book, '' Karl Marx's Theory of History: A Defence'' (1978), in whic ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Accumulation By Dispossession
Accumulation by dispossession is a concept presented by the Marxist geographer David Harvey. It defines neoliberal capitalist policies that result in a centralization of wealth and power in the hands of a few by dispossessing the public and private entities of their wealth or land. Such policies are visible in many western nations from the 1970s and to the present day. Harvey argues these policies are guided mainly by four practices: privatization, financialization, management and manipulation of crises, and state redistributions. Practices Privatization Privatization and commodification of public assets have been among the most criticized and disputed aspects of neoliberalism. Summed up, they could be characterized by the process of transferring property from public ownership to private ownership. According to Marxist theory, this serves the interests of the capitalist class, or bourgeoisie, as it moves power from the nation's governments to private parties. At the same time, ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Oxymoron
An oxymoron (usual plural oxymorons, more rarely oxymora) is a figure of speech that juxtaposes concepts with opposing meanings within a word or phrase that creates an ostensible self-contradiction. An oxymoron can be used as a rhetorical device to illustrate a rhetorical point or to reveal a paradox. A more general meaning of "contradiction in terms" (not necessarily for rhetoric effect) is recorded by the '' OED'' for 1902. The term is first recorded as Latinized Greek ', in Maurus Servius Honoratus (c. AD 400); it is derived from the Greek word ' "sharp, keen, pointed" Retrieved 2013-02-26. and "dull, stupid, foolish"; as it were, "sharp-dull", "keenly stupid", or "pointedly foolish".. Retrieved 2013-02-26. "Pointedly foolish: a witty saying, the more pointed from being paradoxical or seemingly absurd." The word ''oxymoron'' is autological, i.e. it is itself an example of an oxymoron. The Greek compound word ', which would correspond to the Latin formation, does not s ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Planned Economy
A planned economy is a type of economic system where investment, production and the allocation of capital goods takes place according to economy-wide economic plans and production plans. A planned economy may use centralized, decentralized, participatory or Soviet-type forms of economic planning. The level of centralization or decentralization in decision-making and participation depends on the specific type of planning mechanism employed. Socialist states based on the Soviet model have used central planning, although a minority such as the former Socialist Federal Republic of Yugoslavia have adopted some degree of market socialism. Market abolitionist socialism replaces factor markets with direct calculation as the means to coordinate the activities of the various socially-owned economic enterprises that make up the economy. More recent approaches to socialist planning and allocation have come from some economists and computer scientists proposing planning mechanisms bas ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Profit Maximization
In economics, profit maximization is the short run or long run process by which a firm may determine the price, input and output levels that will lead to the highest possible total profit (or just profit in short). In neoclassical economics, which is currently the mainstream approach to microeconomics, the firm is assumed to be a "rational agent" (whether operating in a perfectly competitive market or otherwise) which wants to maximize its total profit, which is the difference between its total revenue and its total cost. Measuring the total cost and total revenue is often impractical, as the firms do not have the necessary reliable information to determine costs at all levels of production. Instead, they take a more practical approach by examining how small changes in production influence revenues and costs. When a firm produces an extra unit of product, the additional revenue gained from selling it is called the marginal revenue (\text), and the additional cost to produce ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
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