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Embedded Liberalism
Embedded liberalism is a term in international political economy for the global economic system and the associated international political orientation as they existed from the end of World War II to the 1970s. The system was set up to support a combination of free trade with the freedom for states to enhance their provision of welfare and to regulate their economies to reduce unemployment. The term was first used by the American political scientist John Ruggie in 1982. Mainstream scholars generally describe embedded liberalism as involving a compromise between two desirable but partially conflicting objectives. The first objective was to revive free trade. Before World War I, international trade formed a large portion of global GDP, but the classical liberal order which supported it had been damaged by war and by the Great Depression of the 1930s. The second objective was to allow national governments the freedom to provide generous welfare programmes and to intervene in their ec ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Post-war Displacement Of Keynesianism
The post-war displacement of Keynesianism was a series of events which from mostly unobserved beginnings in the late 1940s, had by the early 1980s led to the replacement of Keynesian economics as the leading theoretical influence on economic life in the developed world. Similarly, the allied discipline known as development economics was largely displaced as the guiding influence on economic policies adopted by developing nations. The displacement of Keynesian thinking was driven by those who leaned towards purer free market policies, rather than the mixed economy which require a significant role for government intervention. Their motivations included a dislike of large governments which they saw as prone to interfere excessively in the lives of their citizens; an intellectual preference for Classical or Neoclassical economics and related schools; or in some cases a belief that their individual interests were best served by promoting a limited role for government. Efforts again ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Industrial Revolution
The Industrial Revolution was the transition to new manufacturing processes in Great Britain, continental Europe, and the United States, that occurred during the period from around 1760 to about 1820–1840. This transition included going from hand production methods to machines, new chemical manufacturing and iron production processes, the increasing use of steam power and water power, the development of machine tools and the rise of the mechanized factory system. Output greatly increased, and a result was an unprecedented rise in population and in the rate of population growth. Textiles were the dominant industry of the Industrial Revolution in terms of employment, value of output and capital invested. The textile industry was also the first to use modern production methods. The Industrial Revolution began in Great Britain, and many of the technological and architectural innovations were of British origin. By the mid-18th century, Britain was the world's leadi ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Glorious Revolution
The Glorious Revolution; gd, Rèabhlaid Ghlòrmhor; cy, Chwyldro Gogoneddus , also known as the ''Glorieuze Overtocht'' or ''Glorious Crossing'' in the Netherlands, is the sequence of events leading to the deposition of King James II and VII of England and Scotland in November 1688, and his replacement by his daughter Mary II and her husband and James's nephew William III of Orange, de facto ruler of the Dutch Republic. A term first used by John Hampden in late 1689, it has been notable in the years since for having been described as the last successful invasion of England as well as an internal coup, with differing interpretations from the Dutch and English perspectives respectively. Despite his personal Catholicism, a religion opposed by the Protestant majority in England and Scotland, James became king in February 1685 with widespread support in both countries, since many feared that his exclusion would lead to a repetition of the 16391651 Wars of the Three Kingdoms. ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Autarky
Autarky is the characteristic of self-sufficiency, usually applied to societies, communities, states, and their economic systems. Autarky as an ideal or method has been embraced by a wide range of political ideologies and movements, especially left-wing ideologies like African socialism, mutualism, war communism, communalism, swadeshi, syndicalism (especially anarcho-syndicalism), and left-wing populism, generally in an effort to build alternative economic structures or to control resources against structures a particular movement views as hostile. Conservative, centrist and nationalist movements have also adopted autarky in an attempt to preserve part of an existing social order or to develop a particular industry. Proponents of autarky have argued for national self-sufficiency to reduce foreign economic, political and cultural influences, as well as to promote international peace. Economists are generally supportive of free trade. There is a broad consensus among econom ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Redistribution (cultural Anthropology)
In cultural anthropology and sociology, redistribution refers to a system of economic exchange involving the centralized collection of goods from members of a group followed by the redivision of those goods among those members. It is a form of reciprocity. Redistribution differs from simple reciprocity, which is a dyadic back-and-forth exchange between two parties. Redistribution, in contrast, consists of pooling, a system of reciprocities. It is a ''within'' group relationship, whereas reciprocity is a ''between'' relationship. Pooling establishes a centre, whereas reciprocity inevitably establishes two distinct parties with their own interests. While the most basic form of pooling is that of food within the family, it is also the basis for sustained community efforts under a political leader. Sahlins argues that generalized reciprocity within families by elders may be a "starting mechanism" for more general hierarchy, by placing many in the giver's debt. This leads to the quest ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Reciprocity (cultural Anthropology)
In cultural anthropology, reciprocity refers to the non-market exchange of goods or labour ranging from direct barter (immediate exchange) to forms of gift exchange where a return is eventually expected (delayed exchange) as in the exchange of birthday gifts. It is thus distinct from the true gift, where no return is expected. When the exchange is immediate, as in barter, it does not create a social relationship. When the exchange is delayed, it creates both a relationship as well as an obligation for a return (i.e. debt). Hence, some forms of reciprocity can establish hierarchy if the debt is not repaid. The failure to make a return may end a relationship between equals. Reciprocal exchanges can also have a political effect through the creation of multiple obligations and the establishment of leadership, as in the gift exchanges (Moka) between Big Men in Melanesia. Some forms of reciprocity are thus closely related to redistribution, where goods and services are collected by a ... [...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 '' 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 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 philosophy at the University of Glasgo ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Robert Heilbroner
Robert L. Heilbroner (March 24, 1919 – January 4, 2005) was an American economist and historian of economic thought. The author of some 20 books, Heilbroner was best known for ''The Worldly Philosophers: The Lives, Times and Ideas of the Great Economic Thinkers'' (1953), a survey of the lives and contributions of famous economists, notably Adam Smith, Karl Marx, and John Maynard Keynes. Early life and education Heilbroner was born in 1919, in New York City, to a wealthy German Jewish family. His father, Louis Heilbroner, was a businessman who founded the men's clothing retailer Weber & Heilbroner. Robert graduated from Harvard University in 1940 with a ''summa cum laude'' degree in philosophy, government and economics. During World War II, he served in the United States Army and worked at the Office of Price Control under John Kenneth Galbraith, the highly celebrated and controversial Institutionalist economist. Career After World War II, Heilbroner worked briefly as a ban ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
The Worldly Philosophers
Robert L. Heilbroner (March 24, 1919 – January 4, 2005) was an American economist and historian of economic thought. The author of some 20 books, Heilbroner was best known for ''The Worldly Philosophers: The Lives, Times and Ideas of the Great Economic Thinkers'' (1953), a survey of the lives and contributions of famous economists, notably Adam Smith, Karl Marx, and John Maynard Keynes. Early life and education Heilbroner was born in 1919, in New York City, to a wealthy German Jewish family. His father, Louis Heilbroner, was a businessman who founded the men's clothing retailer Weber & Heilbroner. Robert graduated from Harvard University in 1940 with a ''summa cum laude'' degree in philosophy, government and economics. During World War II, he served in the United States Army and worked at the Office of Price Control under John Kenneth Galbraith, the highly celebrated and controversial Institutionalist economist. Career After World War II, Heilbroner worked briefly as a ban ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Fair
A fair (archaic: faire or fayre) is a gathering of people for a variety of entertainment or commercial activities. Fairs are typically temporary with scheduled times lasting from an afternoon to several weeks. Types Variations of fairs include: * Art fairs, including art exhibitions and arts festivals * County fair (USA) or county show (UK), a public agricultural show exhibiting the equipment, animals, sports and recreation associated with agriculture and animal husbandry. * Festival, an event ordinarily coordinated with a theme e.g. music, art, season, tradition, history, ethnicity, religion, or a national holiday. * Health fair, an event designed for outreach to provide basic preventive medicine and medical screening * Historical reenactments, including Renaissance fairs and Dickens fairs * Horse fair, an event where people buy and sell horses. * Job fair, event in which employers, recruiters, and schools give information to potential employees. * Regional or state ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Middle Ages
In the history of Europe, the Middle Ages or medieval period lasted approximately from the late 5th to the late 15th centuries, similar to the post-classical period of global history. It began with the fall of the Western Roman Empire and transitioned into the Renaissance and the Age of Discovery. The Middle Ages is the middle period of the three traditional divisions of Western history: classical antiquity, the medieval period, and the modern period. The medieval period is itself subdivided into the Early, High, and Late Middle Ages. Population decline, counterurbanisation, the collapse of centralized authority, invasions, and mass migrations of tribes, which had begun in late antiquity, continued into the Early Middle Ages. The large-scale movements of the Migration Period, including various Germanic peoples, formed new kingdoms in what remained of the Western Roman Empire. In the 7th century, North Africa and the Middle East—most recently part of the Ea ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
