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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] |
Marxist Geography
Marxist geography is a strand of critical geography that uses the theories and philosophy of Marxism to examine the spatial relations of human geography. In Marxist geography, the relations that geography has traditionally analyzed — natural environment and spatial relations — are reviewed as outcomes of the mode of material production. To fully understand geographical relations, on this view, the social structure must also be examined. Marxist geography attempts to change the basic structure of society. Definition Marxism is usually taken to mean the ideas of Marx and Engels, revolutionary socialists such as Lenin and Trotsky and later thinkers building on Marx, such as Gramsci. Marxist geography is the Marxist examination of society 'from the vantage point of space, place, scale and human transformation of nature'. Marxist geographers argue that incorporating Marxist thinking into Geography enriches geographical thinking. Philosophy Marxist geography is radical in nature ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Asset Stripping
Asset stripping is a term used to refer to the practice of selling off a company's assets in order to improve returns for equity investors. In many cases where the term is used, a financial investor, referred to as a 'corporate raider', takes control of another company and then auctions off the acquired company's assets. The term is generally used in a pejorative sense as such activity is not considered helpful to the company. The proceeds of the sale of assets may be used to lower the company's net debt. Alternatively, they may be used to pay a dividend to equityholders, leaving the company with lower net worth – i.e. the same level of debt but fewer assets (and weaker earnings) to support that debt. With a lower level of assets, some argue that the business is rendered less financially stable or viable. For example, the sale-and-leaseback of a building would lead to an increased rental bill for the company. Asset stripping is a highly controversial topic within the financial ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
The Demonization Of The Working Class
''The'' () is a grammatical article in English, denoting persons or things already mentioned, under discussion, implied or otherwise presumed familiar to listeners, readers, or speakers. It is the definite article in English. ''The'' is the most frequently used word in the English language; studies and analyses of texts have found it to account for seven percent of all printed English-language words. It is derived from gendered articles in Old English which combined in Middle English and now has a single form used with pronouns of any gender. The word can be used with both singular and plural nouns, and with a noun that starts with any letter. This is different from many other languages, which have different forms of the definite article for different genders or numbers. Pronunciation In most dialects, "the" is pronounced as (with the voiced dental fricative followed by a schwa) when followed by a consonant sound, and as (homophone of pronoun ''thee'') when followed by a v ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Wealth
Wealth is the abundance of Value (economics), valuable financial assets or property, physical possessions which can be converted into a form that can be used for financial transaction, transactions. This includes the core meaning as held in the originating Old English word , which is from an Indo-European languages, Indo-European word stem. The modern concept of wealth is of significance in all areas of economics, and clearly so for economic growth, growth economics and development economics, yet the meaning of wealth is context-dependent. An individual possessing a substantial net worth is known as ''wealthy''. Net worth is defined as the current value of one's assets less liabilities (excluding the principal in trust accounts). At the most general level, economists may define wealth as "the total of anything of value" that captures both the subjective nature of the idea and the idea that it is not a fixed or static concept. Various definitions and concepts of wealth have been a ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Social Housing
Public housing is a form of housing tenure in which the property is usually owned by a government authority, either central or local. Although the common goal of public housing is to provide affordable housing, the details, terminology, definitions of poverty, and other criteria for allocation vary within different contexts. Public housing developments are classified as housing projects that are owned by a city's Housing authority or Federally subsidized public housing operated through HUD. Social housing is any rental housing that may be owned and managed by the state, by non-profit organizations, or by a combination of the two, usually with the aim of providing affordable housing. Social housing is generally rationed by a government through some form of means-testing or through administrative measures of housing need. One can regard social housing as a potential remedy for housing inequality. Private housing is a form of housing tenure in which the property is owned by an i ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Margaret Thatcher
Margaret Hilda Thatcher, Baroness Thatcher (; 13 October 19258 April 2013) was Prime Minister of the United Kingdom from 1979 to 1990 and Leader of the Conservative Party (UK), Leader of the Conservative Party from 1975 to 1990. She was the first female British prime minister and the longest-serving British prime minister of the 20th century. As prime minister, she implemented economic policies that became known as Thatcherism. A Soviet journalist dubbed her the "Iron Lady", a nickname that became associated with her uncompromising politics and leadership style. Thatcher studied chemistry at Somerville College, Oxford, and worked briefly as a research chemist, before becoming a barrister. She was List of MPs elected in the 1959 United Kingdom general election, elected Member of Parliament for Finchley (UK Parliament constituency), Finchley in 1959 United Kingdom general election, 1959. Edward Heath appointed her Secretary of State for Education and Science in his H ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Redistribution Of Income And Wealth
Redistribution of income and wealth is the transfer of income and wealth (including physical property) from some individuals to others through a social mechanism such as taxation, welfare, public services, land reform, monetary policies, confiscation, divorce or tort law. The term typically refers to redistribution on an economy-wide basis rather than between selected individuals. Interpretations of the phrase vary, depending on personal perspectives, political ideologies and the selective use of statistics. It is frequently used in politics, where it is used to refer to perceived redistribution from those who have more to those who have less. Occasionally, however, the term is used to describe laws or policies that cause redistribution in the opposite direction, from the poor to the rich. The phrase is often coupled with the term ''class warfare'', with high-income earners and the wealthy portrayed as victims of unfairness and discrimination. Redistribution tax policy should ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
International Monetary Fund
The International Monetary Fund (IMF) is a major financial agency of the United Nations, and an international financial institution, headquartered in Washington, D.C., consisting of 190 countries. Its stated mission is "working to foster global monetary cooperation, secure financial stability, facilitate international trade, promote high employment and sustainable economic growth, and reduce poverty around the world." Formed in 1944, started on 27 December 1945, at the Bretton Woods Conference primarily by the ideas of Harry Dexter White and John Maynard Keynes, it came into formal existence in 1945 with 29 member countries and the goal of reconstructing the international monetary system. It now plays a central role in the management of balance of payments difficulties and international financial crises. Countries contribute funds to a pool through a quota system from which countries experiencing balance of payments problems can borrow money. , the fund had XDR 477 billion (a ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
World Bank
The World Bank is an international financial institution that provides loans and grants to the governments of low- and middle-income countries for the purpose of pursuing capital projects. The World Bank is the collective name for the International Bank for Reconstruction and Development (IBRD) and International Development Association (IDA), two of five international organizations owned by the World Bank Group. It was established along with the International Monetary Fund at the 1944 Bretton Woods Conference. After a slow start, its first loan was to France in 1947. In the 1970s, it focused on loans to developing world countries, shifting away from that mission in the 1980s. For the last 30 years, it has included NGOs and environmental groups in its loan portfolio. Its loan strategy is influenced by the Sustainable Development Goals as well as environmental and social safeguards. , the World Bank is run by a president and 25 executive directors, as well as 29 various vice ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Structural Adjustment Programs
Structural adjustment programs (SAPs) consist of loans (structural adjustment loans; SALs) provided by the International Monetary Fund (IMF) and the World Bank (WB) to countries that experience economic crises. Their purpose is to adjust the country's economic structure, improve international competitiveness, and restore its balance of payments. The IMF and World Bank (two Bretton Woods institutions) require borrowing countries to implement certain policies in order to obtain new loans (or to lower interest rates on existing ones). These policies are typically centered around increased privatization, liberalizing trade and foreign investment, and balancing government deficit. The conditionality clauses attached to the loans have been criticized because of their effects on the social sector. SAPs are created with the stated goal of reducing the borrowing country's fiscal imbalances in the short and medium term or in order to adjust the economy to long-term growth. By requiring th ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Bankruptcy
Bankruptcy is a legal process through which people or other entities who cannot repay debts to creditors may seek relief from some or all of their debts. In most jurisdictions, bankruptcy is imposed by a court order, often initiated by the debtor. Bankrupt is not the only legal status that an insolvent person may have, and the term ''bankruptcy'' is therefore not a synonym for insolvency. Etymology The word ''bankruptcy'' is derived from Italian ''banca rotta'', literally meaning "broken bank". The term is often described as having originated in renaissance Italy, where there allegedly existed the tradition of smashing a banker's bench if he defaulted on payment so that the public could see that the banker, the owner of the bench, was no longer in a condition to continue his business, although some dismiss this as a false etymology. History In Ancient Greece, bankruptcy did not exist. If a man owed and he could not pay, he and his wife, children or servants were forced into " ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Interest Rate
An interest rate is the amount of interest due per period, as a proportion of the amount lent, deposited, or borrowed (called the principal sum). The total interest on an amount lent or borrowed depends on the principal sum, the interest rate, the compounding frequency, and the length of time over which it is lent, deposited, or borrowed. The annual interest rate is the rate over a period of one year. Other interest rates apply over different periods, such as a month or a day, but they are usually annualized. The interest rate has been characterized as "an index of the preference . . . for a dollar of present ncomeover a dollar of future income." The borrower wants, or needs, to have money sooner rather than later, and is willing to pay a fee—the interest rate—for that privilege. Influencing factors Interest rates vary according to: * the government's directives to the central bank to accomplish the government's goals * the currency of the principal sum lent or borrowed * ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
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