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Crisis Theory
Crisis theory, concerning the causes and consequences of the tendency for the rate of profit to fall in a capitalist system, is associated with Marxian critique of political economy, and was further popularised through Marxist economics. History Earlier analysis by Jean Charles Léonard de Sismondi provided the first suggestions of the systemic roots of Crisis. "The distinctive feature of Sismondi's analysis is that it is geared to an explicit dynamic model in the modern sense of this phrase ... Sismondi's great merit is that he used, systematically and explicitly, a schema of periods, that is, that he was the first to practice the particular method of dynamics that is called period analysis". Marx praised and built on Sismondi's theoretical insights. Rosa Luxemburg and Henryk Grossman both subsequently drew attention to both Sismondi's work on the nature of capitalism, and as a reference point for Karl Marx. Grossman in particular pointed out how Sismondi had contributed t ... [...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 use for the purpose of obtaining profit. This socioeconomic system has developed historically through several stages and is defined by a number of basic constituent elements: private property, profit motive, capital accumulation, competitive markets, commodification, wage labor, and an emphasis on innovation and economic growth. Capitalist economies tend to experience a business cycle of economic growth followed by recessions. 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'' or free-market capitalism, state capitalism, and welfare capitalism. Different forms of capitalism feature varying degrees of free markets, public ownership, obstacles to free competition, and state-sanctioned social poli ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Rudolf Hilferding
Rudolf Hilferding (; 10 August 1877 – 11 February 1941) was an Austrian-born Marxist economist, Socialism, socialist theorist,International Institute of Social History, ''Rudolf Hilferding Papers'': http://www.iisg.nl/archives/en/files/h/10751012.php politician and the chief theoretician for the Social Democratic Party of Germany (SPD) during the Weimar Republic,William Smaldone, Smaldone, William, ''Rudolf Hilferding and the total state'', 1994: http://www.encyclopedia.com/doc/1G1-15867926.html being almost universally recognized as the SPD's foremost theoretician of the twentieth century. He was also a physician. He was born in Vienna, where he received a doctorate having studied medicine. After becoming a leading journalist for the SPD, he participated in the German Revolution of 1918–19, November Revolution in Germany and was List of German finance ministers, Finance Minister of Germany in 1923 and from 1928 to 1929. In 1933 he fled into exile, living in Zurich and then ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Lenin
Vladimir Ilyich Ulyanov ( 187021 January 1924), better known as Vladimir Lenin, was a Russian revolutionary, politician and political theorist. He was the first head of government of Soviet Russia from 1917 until Death and state funeral of Vladimir Lenin, his death in 1924, and of the Soviet Union from 1922 until his death. As the founder and leader of the Bolsheviks, Lenin led the October Revolution which established the world's first socialist state. His government won the Russian Civil War and created a one-party state under the Communist Party of the Soviet Union, Communist Party. Ideologically a Marxist, his developments to the ideology are called Leninism. Born into a middle-class family in Simbirsk in the Russian Empire, Lenin embraced revolutionary socialist politics after Aleksandr Ulyanov, his brother was executed in 1887 for plotting to assassinate Alexander III of Russia, the tsar. He was expelled from Kazan Imperial University for participating in student prote ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Marx, Karl
Karl Marx (; 5 May 1818 – 14 March 1883) was a German Political philosophy, philosopher, political theorist, economist, journalist, and revolutionary socialist. He is best-known for the 1848 pamphlet ''The Communist Manifesto'' (written with Friedrich Engels), and his three-volume (1867–1894), a critique of political economy, critique of classical political economy which employs his theory of historical materialism in an analysis of capitalism, in the culmination of his life's work. Marx's ideas and their subsequent development, collectively known as Marxism, have had enormous influence. Born in Trier in the Kingdom of Prussia, Marx studied at the universities of University of Bonn, Bonn and Humboldt University of Berlin, Berlin, and received a doctorate in philosophy from the University of Jena in 1841. A Young Hegelians, Young Hegelian, he was influenced by the philosophy of Georg Wilhelm Friedrich Hegel, and both critiqued and developed Hegel's ideas in works such as ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Ernest Mandel
Ernest Ezra Mandel (; 5 April 1923 – 20 July 1995), also known by various pseudonyms such as Ernest Germain, Pierre Gousset, Henri Vallin, Walter, was a Belgian Marxian economist, Trotskyist activist and theorist, and Holocaust survivor. He fought in the underground resistance against the Nazis during the occupation of Belgium. Life Born in Frankfurt, Mandel was recruited to the Belgian section of the international Trotskyist movement, the Fourth International, in his youth in Antwerp. His parents, Henri and Rosa Mandel, were Jewish emigres from Poland, the former a member of Rosa Luxemburg's and Karl Liebknecht's Spartacist League. The beginning of Mandel's period at university was interrupted when the German occupying forces closed the university. During World War II, while still a teenager, he joined the Belgian Trotskyist organisation alongside Abraham Leon and Martin Monath. He twice escaped after being arrested in the course of resistance activities, and surviv ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Anwar Shaikh (economist)
Anwar M. Shaikh ( Sindhi: انور شيخ) is a Pakistani American heterodox economist in the tradition of classical political economy and Marxian economics. He is Professor of Economics in the Graduate Faculty of Social and Political Science at The New School for Social Research in New York City, where he has taught since 1972. Early life and education Shaikh was born in Karachi into a Liberal Sindhi family in 1945. He traveled extensively at an early age and attended schools and lived for various lengths of time in Ankara, Washington, D.C., New York City, Lagos, Kuala Lumpur, and Kuwait. He graduated from Stuyvesant High School in New York City in 1961, received a B.S.E from Princeton University in 1965, worked for two years in Kuwait, and then returned to the United States to study at Columbia University, from which he received his Ph.D. in Economics in 1973. In 1972 he joined the Economics Department at the Graduate Faculty of the New School for Social Research. He t ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Business Cycle
Business cycles are intervals of general expansion followed by recession in economic performance. The changes in economic activity that characterize business cycles have important implications for the welfare of the general population, government institutions, and private sector firms. There are many definitions of a business cycle. The simplest defines recessions as two consecutive quarters of negative GDP growth. More satisfactory classifications are provided by, first including more economic indicators and second by looking for more data patterns than the two quarter definition. In the United States, the National Bureau of Economic Research oversees a Business Cycle Dating Committee that defines a recession as "a significant decline in economic activity spread across the market, lasting more than a few months, normally visible in real GDP, real income, employment, industrial production, and wholesale-retail sales." Business cycles are usually thought of as medium-term ev ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Creative Destruction
Creative destruction (German: ''schöpferische Zerstörung'') is a concept in economics that describes a process in which new innovations replace and make obsolete older innovations. The concept is usually identified with the economist Joseph Schumpeter, who derived it from the work of Karl Marx and popularized it as a theory of Innovation economics, economic innovation and the business cycle. It is also sometimes known as Schumpeter's gale. In Marxian economic theory, the concept refers more broadly to the linked processes of the accumulation and annihilation of wealth under capitalism. The German sociologist Werner Sombart has been credited with the first use of these terms in his work ''Krieg und Kapitalismus'' (''War and Capitalism'', 1913).Describing the way in which the destruction of forests in Europe laid the foundations for nineteenth-century capitalism, Sombart writes: "Wiederum aber steigt aus der Zerstörung neuer schöpferischer Geist empor" ("Again, however, fro ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Joseph Schumpeter
Joseph Alois Schumpeter (; February 8, 1883 – January 8, 1950) was an Austrian political economist. He served briefly as Finance Minister of Austria in 1919. In 1932, he emigrated to the United States to become a professor at Harvard University, where he remained until the end of his career, and in 1939 obtained American citizenship. Schumpeter was one of the most influential economists of the early 20th century, and popularized creative destruction, a term coined by Werner Sombart. His magnum opus is considered '' Capitalism, Socialism and Democracy.'' Early life and education Schumpeter was born in 1883 in Triesch, Habsburg Moravia (now Třešť in the Czech Republic, then part of Austria-Hungary), to German-speaking Catholic parents. Though both of his grandmothers were Czech, Schumpeter did not acknowledge his Czech ancestry. His father, who owned a factory, died when Joseph was only four years old. In 1893, Joseph and his mother moved to Vienna. Schumpeter was ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Theory Of Imperialism
Theories of imperialism are a range of theoretical approaches to understanding the expansion of capitalism into new areas, the unequal Economic development, development of different countries, and economic systems that may lead to the dominance of some countries over others. These theories are considered distinct from other uses of the word imperialism which refer to the general tendency for empires throughout history to seek power and Expansionism, territorial expansion. While some theories of imperialism were developed by non-Marxists, other theories are associated with Marxist economics. Many theories of imperialism, with the notable exception of ultra-imperialism, hold that imperialist exploitation leads to warfare, colonization, and international inequality. Theories Hobson J. A. Hobson was an English Liberal Party (UK), liberal economist best remembered for his ''Imperialism (Hobson), Imperialism: A Study'', published 1902, which associated imperialism with the growth ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Kuruma Samezō
Kuruma Samezō (久留間鮫造, September 24, 1893 – October 20, 1982) was a Japanese economist. He was professor emeritus at Hōsei University where he ran the Okayama University#History, Ōhara Institute for Social Research, and was best known as the compiler of a Lexicon of Marxist Political Economy. He is the father of Rikkyō University professor emeritus . Personal Summary Born to a paper-seller in Okayama-city, Okayama-prefecture, as the eldest son he was expected to take over the family business, and after reading Wealth of Nations he developed an early interest in economics. After attending Okayama Prefectural Middle School and High School number 6, he enrolled in the economics department of Tokyo Imperial University Law School, but after one month he transferred to political science. He graduated after a gap year due to illness, but attended no seminars. In 1918, he began working for Sumitomo Bank, believing he would be conducting research. The Rice riots of 1918, al ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Max Beer
Moses "Max" Beer (10 August 1864 – 30 April 1943) was an Austrian-born Marxist economist, journalist and historian. Beer is best remembered as an early writer on the topic of imperialism and for a series of books, published in translation in several countries, which examined the nature of class struggle throughout human history. Biography Early years Moses Beer, known to all by the nickname "Max," was born 10 August 1864 in the small town of Tarnobrzeg, Galicia, which was then part of the Austrian Empire. He was of Jewish heritage.Richard B. Day and Daniel Gaido, eds. and trans., ''Discovering Imperialism: Social Democracy to World War I.'' (2011) Chicago: Haymarket Books, 2012; pg. 95. Beer's father, Nathan Beer, worked as a kosher butcher.Donald MacRaild, "Max Beer," in Thomas A. Lane (ed.), ''Biographical Dictionary of European Labor Leaders: A-L.'' Westport, CT: Greenwood Press, 1995; pp. 68-69. As a young boy Beer was educated in a Jewish Cheder, but he was moved to a l ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
