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Socialistic
Socialism is a left-wing Economic ideology, economic philosophy and Political movement, movement encompassing a range of economic systems characterized by the dominance of social ownership of the means of production as opposed to Private property, private ownership. As a term, it describes the Economic ideology, economic, Political philosophy, political and Social theory, social theories and Political movement, movements associated with the implementation of such systems. Social ownership can be State ownership, state/public, Community ownership, community, Collective ownership, collective, cooperative, or Employee stock ownership#Employee ownership, 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 ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Types Of Socialism
Types of socialism include a range of economic and social systems characterised by social ownership and democratic controlArnold, N. Scott (1998). ''The Philosophy and Economics of Market Socialism: A Critical Study''. Oxford University Press. p. 8. "What else does a socialist economic system involve? Those who favor socialism generally speak of social ownership, social control, or socialization of the means of production as the distinctive positive feature of a socialist economic system." of the means of production and organizational self-management of enterprises as well as the political theories and movements associated with socialism."2. (Government, Politics & Diplomacy) any of various social or political theories or movements in which the common welfare is to be achieved through the establishment of a socialist economic system"Socialism" at The Free dictionary/ref> Social ownership may refer to forms of public, collective or cooperative ownership, or to citizen ownership ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Technocracy
Technocracy is a form of government in which the decision-maker or makers are selected based on their expertise in a given area of responsibility, particularly with regard to scientific or technical knowledge. This system explicitly contrasts with representative democracy, the notion that elected representatives should be the primary decision-makers in government, though it does not necessarily imply eliminating elected representatives. Decision-makers are selected based on specialized knowledge and performance rather than political affiliations, parliamentary skills, or popularity. p.35 (p.44 of PDF), p.35 The term ''technocracy'' was initially used to signify the application of the scientific method to solving social problems. In its most extreme form, technocracy is an entire government running as a technical or engineering problem and is mostly hypothetical. In more practical use, technocracy is any portion of a bureaucracy run by technologists. A government in which elected ... [...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] |
Social Ownership
Social ownership is the appropriation of the surplus product, produced by the means of production, or the wealth that comes from it, to society as a whole. It is the defining characteristic of a socialist economic system. It can take the form of community ownership, state ownership, common ownership, employee ownership, cooperative ownership, and citizen ownership of equity. Traditionally, social ownership implied that capital and factor markets would cease to exist under the assumption that market exchanges within the production process would be made redundant if capital goods were owned and integrated by a single entity or network of entities representing society; but the articulation of models of market socialism where factor markets are utilized for allocating capital goods between socially owned enterprises broadened the definition to include autonomous entities within a market economy. Social ownership of the means of production is the common defining characteristic of ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Criticism Of Capitalism
Criticism of capitalism ranges from expressing disagreement with the principles of capitalism in its entirety to expressing disagreement with particular outcomes of capitalism. Criticism of capitalism comes from various political and philosophical approaches, including anarchist, socialist, Marxist, religious, and nationalist viewpoints. Some believe that capitalism can only be overcome through revolution while others believe that structural change can come slowly through political reforms. Some critics believe there are merits in capitalism and wish to balance it with some form of social control, typically through government regulation (e.g. the social market movement). Prominent among critiques of capitalism are accusations that capitalism is inherently exploitative, alienating, unstable, unsustainable, and creates massive economic inequality, commodifies people, and is anti-democratic and leads to an erosion of human rights and national sovereignty while it incentivise ... [...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 (economics), profit. Central characteristics of capitalism include capital accumulation, competitive markets, price system, private property, Property rights (economics), 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 market, 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 capitalism, laissez-faire'' or free-market capitalism, anarcho-capitalism, state capi ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
System Dynamics
System dynamics (SD) is an approach to understanding the nonlinear behaviour of complex systems over time using stocks, flows, internal feedback loops, table functions and time delays. Overview System dynamics is a methodology and mathematical modeling technique to frame, understand, and discuss complex issues and problems. Originally developed in the 1950s to help corporate managers improve their understanding of industrial processes, SD is currently being used throughout the public and private sector for policy analysis and design. Convenient graphical user interface (GUI) system dynamics software developed into user friendly versions by the 1990s and have been applied to diverse systems. SD models solve the problem of simultaneity (mutual causation) by updating all variables in small time increments with positive and negative feedbacks and time delays structuring the interactions and control. The best known SD model is probably the 1972 ''The Limits to Growth''. This model f ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Law Of Value
The law of the value of commodities (German: ''Wertgesetz der Waren''), known simply as the law of value, is a central concept in Karl Marx's critique of political economy first expounded in his polemic ''The Poverty of Philosophy'' (1847) against Pierre-Joseph Proudhon with reference to David Ricardo's economics.See Marx, ''The Poverty of Philosophy'', chapter 1 part where Marx refers to Proudhon's own "law of value" and chapter 3, titled "Application of the Law of the Proportionality of Value/ref> Most generally, it refers to a regulative principle of the economic exchange of the products of human work, namely that the relative exchange-values of those products in trade, usually expressed by money-prices, are proportional to the average amounts of human labor-time which are currently socially necessary to produce them within the capitalist mode of production.Karl Marx, ''Capital, Volume I'', Penguin, pp. 676–77; Marx, ''Capital, Volume III'', Penguin ed., p. 522. Thus, the fluc ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Calculation In Kind
__NOTOC__ Calculation in kind or calculation in-natura is a way of valuating resources and a system of accounting that uses disaggregated physical magnitudes as opposed to a common unit of calculation. As the basis for a socialist economy, it was proposed to replace money and financial calculation. Calculation in kind would value each commodity based on its utility, for purposes of economic accounting. By contrast, in money-based economies, a commodity's value includes an exchange value. Calculation in kind would quantify the utility of an object ''directly'' without recourse to a general unit of calculation. This differs from other proposed methods of socialist calculation, such as Taylor-Lange accounting prices, and the use of labor time as a measure of cost. Calculation in kind was strongly advocated by the positivist philosopher and political economist Otto Neurath when employed by the Bavarian Soviet Republic. This led to a discussion in the early 1920s, in which much of t ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Economic Planning
Economic planning is a resource allocation mechanism based on a computational procedure for solving a constrained maximization problem with an iterative process for obtaining its solution. Planning is a mechanism for the allocation of resources between and within organizations contrasted with the market mechanism. As an allocation mechanism for socialism, economic planning replaces factor markets with a procedure for direct allocations of resources within an interconnected group of socially owned organizations which together comprise the productive apparatus of the economy. There are various forms of economic planning that vary based on their specific procedures and approach. The level of centralization or decentralization in decision-making depends on the specific type of planning mechanism employed. In addition, one can distinguish between centralized planning and decentralized planning. An economy primarily based on planning is referred to as a planned economy. In a centrall ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Money
Money is any item or verifiable record that is generally accepted as payment for goods and services and repayment of debts, such as taxes, in a particular country or socio-economic context. The primary functions which distinguish money are as a medium of exchange, a unit of account, a store of value and sometimes, a standard of deferred payment. Money was historically an emergent market phenomenon that possess intrinsic value as a commodity; nearly all contemporary money systems are based on unbacked fiat money without use value. Its value is consequently derived by social convention, having been declared by a government or regulatory entity to be legal tender; that is, it must be accepted as a form of payment within the boundaries of the country, for "all debts, public and private", in the case of the United States dollar. Contexts which erode public confidence, such as the circulation of counterfeit money or domestic hyperinflation, can cause good money to lose its value. ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Factor Market
In economics, a factor market is a market where factors of production are bought and sold. Factor markets allocate factors of production, including land, labour and capital, and distribute income to the owners of productive resources, such as wages, rents, etc. Firms buy productive resources in return for making factor payments at factor prices. The interaction between product and factor markets involves the principle of derived demand. A firm’s factors of production are gotten from its economic activities of supplying goods or services to another market. Derived demand refers to the demand for productive resources, which is derived from the demand for final goods and services or output. For example, if consumer demand for new cars rises, producers will respond by increasing their demand for the productive inputs or resources used to produce new cars. Production is the transformation of inputs into final products. Firms obtain the inputs (factors of production) in the factor ma ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
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