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Unintended Consequences
In the social sciences, unintended consequences (sometimes unanticipated consequences or unforeseen consequences) are outcomes of a purposeful action that are not intended or foreseen. The term was popularised in the twentieth century by American sociologist Robert K. Merton and expanded by economist Thomas Sowell and psychologist Stuart Vyse.Robert K. Merton, Versatile Sociologist and Father of the Focus Group, Dies at 92
Michael T. Kaufman, ''''
Unintended consequences can be grouped into three types: * ''Unexpected benefit'': ...
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Scottish Enlightenment
The Scottish Enlightenment ( sco, Scots Enlichtenment, gd, Soillseachadh na h-Alba) was the period in 18th- and early-19th-century Scotland characterised by an outpouring of intellectual and scientific accomplishments. By the eighteenth century, Scotland had a network of parish schools in the Scottish Lowlands and five universities. The Enlightenment culture was based on close readings of new books, and intense discussions took place daily at such intellectual gathering places in Edinburgh as The Select Society and, later, The Poker Club, as well as within Scotland's ancient universities ( St Andrews, Glasgow, Edinburgh, King's College, and Marischal College). Sharing the humanist and rational outlook of the Western Enlightenment of the same time period, the thinkers of the Scottish Enlightenment asserted the importance of human reason combined with a rejection of any authority that could not be justified by reason. In Scotland, the Enlightenment was characterised by a ...
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Concise Encyclopedia Of Economics
Liberty Fund, Inc. is an American private educational foundation headquartered in Carmel, founded by Pierre F. Goodrich. Through publishing, conferences, and educational resources, the operating mandate of the Liberty Fund was set forth in an unpublished memo written by Goodrich "to encourage the study of the ideal of a society of free and responsible individuals".Morgan N. KnullGoodrich, Pierre, '' First Principles'', 09/23/11Robert T. Grimm (ed.), ''Notable American Philanthropists: Biographies of Giving and Volunteering'', Greenwood Publishing Group, 2002, pp. 125–128 History Liberty Fund was founded by Pierre F. Goodrich in 1960. In 1997 it received an $80 million donation from Goodrich's wife, Enid, increasing its assets to over $300 million. In November 2015, it was announced that the Liberty Fund was building a $22 million headquarters in Carmel, Indiana. Liberty Fund has been cited by historian Donald T. Critchlow as one of the endowed conservative foundations whi ...
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Complex System
A complex system is a system composed of many components which may interact with each other. Examples of complex systems are Earth's global climate, organisms, the human brain, infrastructure such as power grid, transportation or communication systems, complex software and electronic systems, social and economic organizations (like cities), an ecosystem, a living cell, and ultimately the entire universe. Complex systems are systems whose behavior is intrinsically difficult to model due to the dependencies, competitions, relationships, or other types of interactions between their parts or between a given system and its environment. Systems that are " complex" have distinct properties that arise from these relationships, such as nonlinearity, emergence, spontaneous order, adaptation, and feedback loops, among others. Because such systems appear in a wide variety of fields, the commonalities among them have become the topic of their independent area of research. In many cases, ...
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Max Weber
Maximilian Karl Emil Weber (; ; 21 April 186414 June 1920) was a German sociologist, historian, jurist and political economist, who is regarded as among the most important theorists of the development of modern Western society. His ideas profoundly influence social theory and research. While Weber did not see himself as a sociologist, he is recognized as one of the fathers of sociology along with Karl Marx, and Émile Durkheim. Unlike Durkheim, Weber did not believe in monocausal explanations, proposing instead that for any outcome there can be multiple causes. Also unlike Durkheim, Weber was a key proponent of methodological anti-positivism, arguing for the study of social action through interpretive rather than purely empiricist methods, based on a subjective understanding of the meanings that individuals attach to their own actions. Weber's main intellectual concern was in understanding the processes of rationalisation, secularisation, and the ensuing sense of " ...
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American Sociological Review
The ''American Sociological Review'' is a bi-monthly peer-reviewed academic journal covering all aspects of sociology. It is published by SAGE Publications on behalf of the American Sociological Association. It was established in 1936. The editors-in-chief are Arthur S. Alderson (Indiana University-Bloomington) and Dina G. Okamoto (Indiana University-Bloomington). History For its first thirty years, the American Sociological Society (now the American Sociological Association) was largely dominated by the sociology department of the University of Chicago, and the quasi-official journal of the association was Chicago's ''American Journal of Sociology''. In 1935, the executive committee of the American Sociological Society voted 5 to 4 against disestablishing the ''American Journal of Sociology'' as the official journal of society, but the measure was passed on for consideration of the general membership, which voted 2 to 1 to establish a new journal independent of Chicago: the ''Ameri ...
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Social Change
Social change is the alteration of the social order of a society which may include changes in social institutions, social behaviours or social relations. Definition Social change may not refer to the notion of social progress or sociocultural evolution, the philosophical idea that society moves forward by evolutionary means. It may refer to a paradigmatic change in the socio-economic structure, for instance the transition from feudalism to capitalism, or hypothetical future transition to some form of post-capitalism. Social development refers to how people develop social and emotional skills across the lifespan, with particular attention to childhood and adolescence. Healthy social development allows us to form positive relationships with family, friends, teachers, and other people in our lives. Accordingly, it may also refer to social revolution, such as the Socialist revolution presented in Marxism, or to other social movements, such as women's suffrage or ...
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Ludwig Feuerbach
Ludwig Andreas von Feuerbach (; 28 July 1804 – 13 September 1872) was a German anthropologist and philosopher, best known for his book '' The Essence of Christianity'', which provided a critique of Christianity that strongly influenced generations of later thinkers, including Charles Darwin, Karl Marx, Sigmund Freud, Friedrich Engels, Richard Wagner, and Friedrich Nietzsche. An associate of Young Hegelian circles, Feuerbach advocated atheism and anthropological materialism. Many of his philosophical writings offered a critical analysis of religion. His thought was influential in the development of historical materialism,Nicholas Churchich, ''Marxism and Alienation'', Fairleigh Dickinson University Press, 1990, p. 57: "Although Marx has rejected Feuerbach's abstract materialism," Lenin says that Feuerbach's views "are consistently materialist," implying that Feuerbach's conception of causality is entirely in line with dialectical materialism." where he is often recognized a ...
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Economic Growth
Economic growth can be defined as the increase or improvement in the inflation-adjusted market value of the goods and services produced by an economy in a financial year. Statisticians conventionally measure such growth as the percent rate of increase in the real gross domestic product, or real GDP. Growth is usually calculated in real terms – i.e., inflation-adjusted terms – to eliminate the distorting effect of inflation on the prices of goods produced. Measurement of economic growth uses national income accounting. Since economic growth is measured as the annual percent change of gross domestic product (GDP), it has all the advantages and drawbacks of that measure. The economic growth-rates of countries are commonly compared using the ratio of the GDP to population (per-capita income). The "rate of economic growth" refers to the geometric annual rate of growth in GDP between the first and the last year over a period of time. This growth rate represents the trend ...
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Economic Efficiency
In microeconomics, economic efficiency, depending on the context, is usually one of the following two related concepts: * Allocative or Pareto efficiency: any changes made to assist one person would harm another. * Productive efficiency: no additional output of one good can be obtained without decreasing the output of another good, and production proceeds at the lowest possible average total cost. These definitions are not equivalent: a market or other economic system may be allocatively but not productively efficient, or productively but not allocatively efficient. There are also other definitions and measures. All characterizations of economic efficiency are encompassed by the more general engineering concept that a system is efficient or optimal when it maximizes desired outputs (such as utility) given available inputs. Standards of thought There are two main standards of thought on economic efficiency, which respectively emphasize the distortions created by ''government ...
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Entrepreneurship
Entrepreneurship is the creation or extraction of economic value. With this definition, entrepreneurship is viewed as change, generally entailing risk beyond what is normally encountered in starting a business, which may include other values than simply economic ones. An entrepreneur is an individual who creates and/or invests in one or more businesses, bearing most of the risks and enjoying most of the rewards.The process of setting up a business is known as entrepreneurship. The entrepreneur is commonly seen as an innovator, a source of new ideas, goods, services, and business/or procedures. More narrow definitions have described entrepreneurship as the process of designing, launching and running a new business, which is often similar to a small business, or as the "capacity and willingness to develop, organize and manage a business venture along with any of its risks to make a profit." The people who create these businesses are often referred to as entrepreneurs. While d ...
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