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Perspectives On Capitalism
Throughout modern history, a variety of perspectives on capitalism have evolved based on different schools of thought. Overview Adam Smith was one of the first influential writers on the topic with his book ''The Wealth of Nations'', which is generally considered to be the start of classical economics which emerged in the 18th century. To the contrary, Karl Marx considered capitalism to be a historically specific mode of production and considered capitalism a phase of economic development that would pass and be replaced by communism. In conjunction with his criticism of capitalism was Marx's belief that exploited labor would be the driving force behind a social revolution to a socialist-style economy.Wheen, Francis ''Books That Shook the World: Marx's Das Kapital''. 1st ed. London: Atlantic Books, 2006 For Marx, this cycle of the extraction of the surplus value by the owners of capital or the bourgeoisie becomes the basis of class struggle. This argument is intertwined wit ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Modern History
The modern era or the modern period is considered the current historical period of human history. It was originally applied to the history of Europe and Western history for events that came after the Middle Ages, often from around the year 1500, like the Reformation in History of Germany, Germany giving rise to Protestantism. Since the 1990s, it has been more common among historians to refer to the period after the Middle Ages and up to the 19th century as the early modern period. The modern period is today more often used for events from the 19th century until today. The time from the end of World War II (1945) can also be described as being part of contemporary history. The common definition of the modern period today is often associated with events like the French Revolution, the Industrial Revolution, and the transition from nationalism toward the liberal international order. The modern period has been a period of significant development in the fields of science, politics, wa ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Max Weber
Maximilian Carl Emil Weber (; ; 21 April 186414 June 1920) was a German Sociology, sociologist, historian, jurist, and political economy, political economist who was one of the central figures in the development of sociology and the social sciences more generally. His ideas continue to influence social theory and social research, research. Born in Erfurt in 1864, Weber studied law and history in Humboldt University of Berlin, Berlin, University of Göttingen, Göttingen, and Heidelberg University, Heidelberg. After earning his doctorate in law in 1889 and habilitation in 1891, he taught in Berlin, University of Freiburg, Freiburg, and Heidelberg. He married his cousin Marianne Weber, Marianne Schnitger two years later. In 1897, he had a breakdown after Max Weber Sr., his father died following an argument. Weber ceased teaching and travelled until the early 1900s. He recovered and wrote ''The Protestant Ethic and the Spirit of Capitalism''. During the First World War, he initia ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Historical School Of Economics
The German historical school of economics was an approach to academic economics and to public administration that emerged in the 19th century in Germany, and held sway there until well into the 20th century. The professors involved compiled massive economic histories of Germany and Europe. Numerous Americans were their students. The school was opposed by theoretical economists. Prominent leaders included Gustav von Schmoller (1838–1917), and Max Weber (1864–1920) in Germany, and Joseph Schumpeter (1883–1950) in Austria and the United States. Tenets The historical school held that history was the key source of knowledge about human actions and economic matters, since economics was culture-specific, and hence not generalizable over space and time. The Historical School of Economics, in addition to rejecting the universal validity of economic theorems and emphasizing an empirical and historical approach, drew significant methodological influence from the historism of Leopold ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
School Of Economic Thought
In the history of economic thought, a school of economic thought is a group of economic thinkers who share or shared a mutual perspective on the way economies function. While economists do not always fit within particular schools, particularly in the modern era, classifying economists into schools of thought is common. Economic thought may be roughly divided into three phases: premodern (Greco-Roman, Indian, Persian, Islamic, and Imperial Chinese), early modern (mercantilist, physiocrats) and modern (beginning with Adam Smith and classical economics in the late 18th century, and Karl Marx and Friedrich Engels' Marxian economics in the mid 19th century). Systematic economic theory has been developed primarily since the beginning of what is termed the modern era. Currently, the great majority of economists follow an approach referred to as mainstream economics (sometimes called 'orthodox economics'). Economists generally specialize into either macroeconomics, broadly on the genera ... [...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 Samuels, 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, ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Manorialism
Manorialism, also known as seigneurialism, the manor system or manorial system, was the method of land ownership (or "Land tenure, tenure") in parts of Europe, notably France and later England, during the Middle Ages. Its defining features included a large, sometimes fortified manor house in which the lord of the manor and his dependants lived and administered a rural estate, and a population of labourers or Serfdom, serfs who worked the surrounding land to support themselves and the lord. These labourers fulfilled their obligations with labour time or in-kind produce at first, and later by cash payment as commercial activity increased. Manorialism was part of the Feudalism, feudal system. Manorialism originated in the Roman villa system of the Late Roman Empire, and was widely practised in Middle Ages, medieval western Europe and parts of central Europe. An essential element of feudal society, manorialism was slowly replaced by the advent of a money-based market economy and new ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Peasant
A peasant is a pre-industrial agricultural laborer or a farmer with limited land-ownership, especially one living in the Middle Ages under feudalism and paying rent, tax, fees, or services to a landlord. In Europe, three classes of peasants existed: non-free slaves, semi-free serfs, and free tenants. Peasants might hold title to land outright (fee simple), or by any of several forms of land tenure, among them socage, quit-rent, leasehold, and copyhold. In some contexts, "peasant" has a pejorative meaning, even when referring to farm laborers. As early as in 13th-century Germany, the concept of "peasant" could imply "rustic" as well as "robber", as the English term villain/villein. In 21st-century English, the word "peasant" can mean "an ignorant, rude, or unsophisticated person". The word rose to renewed popularity in the 1940s–1960s as a collective term, often referring to rural populations of developing countries in general, as the "semantic successor to 'native', ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Lord
Lord is an appellation for a person or deity who has authority, control, or power (social and political), power over others, acting as a master, chief, or ruler. The appellation can also denote certain persons who hold a title of the Peerage of the United Kingdom, peerage in the United Kingdom, or are entitled to courtesy titles. The collective "Lords" can refer to a group or body of Peerages in the United Kingdom, peers. Etymology According to the ''Oxford Dictionary of English'', the etymology of the word can be traced back to the Old English language, Old English word ''hlāford'' which originated from ''hlāfweard'' meaning "loaf-ward" or "bread-keeper", reflecting the Germanic tribes, Germanic tribal custom of a Germanic chieftain, chieftain providing food for his followers. The appellation "lord" is primarily applied to men, while for women the appellation "lady" is used. This is no longer universal: the Lord of Mann, a title previously held by Elizabeth II, the Queen o ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Guild
A guild ( ) is an association of artisans and merchants who oversee the practice of their craft/trade in a particular territory. The earliest types of guild formed as organizations of tradespeople belonging to a professional association. They sometimes depended on grants of letters patent from a monarch or other ruler to enforce the flow of trade to their self-employed members, and to retain ownership of tools and the supply of materials, but most were regulated by the local government. Guild members found guilty of cheating the public would be fined or banned from the guild. A lasting legacy of traditional guilds are the guildhalls constructed and used as guild meeting-places. Typically the key "privilege" was that only guild members were allowed to sell their goods or practice their skill within the city. There might be controls on minimum or maximum prices, hours of trading, numbers of apprentices, and many other things. Critics argued that these rules reduced Free market, fre ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Journeyman
A journeyman is a worker, skilled in a given building trade or craft, who has successfully completed an official apprenticeship qualification. Journeymen are considered competent and authorized to work in that field as a fully qualified employee. They earn their license by education, supervised experience and examination. Although journeymen have completed a trade certificate and are allowed to work as employees, they may not yet work as self-employed master craftsmen. The term "journeyman" was originally used in the medieval trade guilds. Journeymen were paid daily and the word "journey" is derived from ''journée'', meaning "whole day" in French. Each individual guild generally recognised three ranks of workers: apprentices, journeymen, and masters. A journeyman, as a qualified tradesman, could become a master and run their own business, but most continued working as employees. Guidelines were put in place to promote responsible tradesmen, who were held accountable for thei ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Master Craftsman
Historically, a master craftsman or master tradesman (sometimes called only master or grandmaster) was a member of a guild. The title survives as the highest professional qualification in craft industries. In the European guild#organization, guild system, only masters and journeymen were allowed to be members of the guild. An aspiring master would have to pass through the career chain from apprentice to journeyman before he could be elected to become a master craftsman. He would then have to produce a sum of money and a masterpiece before he could actually join the guild. If the masterpiece was not accepted by the masters, he was not allowed to join the guild and possibly remained a journeyman for the rest of his life. Today's master craftsman in different countries Germany In Germany, the master craftsman (''Meister'') is the highest professional qualification in crafts and is a state-approved grade. The certification is called ''Meisterbrief''. The qualification inclu ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Productivity (economics)
Productivity is the efficiency of production of goods or services expressed by some measure. Measurements of productivity are often expressed as a ratio of an aggregate output to a single input or an aggregate input used in a production process, i.e. output per unit of input, typically over a specific period of time. The most common example is the (aggregate) labour productivity measure, one example of which is GDP per worker. There are many different definitions of productivity (including those that are not defined as ratios of output to input) and the choice among them depends on the purpose of the productivity measurement and data availability. The key source of difference between various productivity measures is also usually related (directly or indirectly) to how the outputs and the inputs are aggregated to obtain such a ratio-type measure of productivity. Productivity is a crucial factor in the production performance of firms and nations. Increasing national productivi ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
