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Primitive Accumulation Of Capital
In Marxian economics and preceding theories,Perelman, p. 25 (ch. 2) the problem of primitive accumulation (also called previous accumulation, prior accumulation, or original accumulation) of capital concerns the origin of capital and therefore how class distinctions between possessors and non-possessors came to be. Concept Adam Smith's account of primitive-original accumulation depicted a peaceful process in which some workers laboured more diligently than others and gradually built up wealth, eventually leaving the less diligent workers to accept living wages for their labour. Karl Marx rejected such accounts as 'insipid childishness' for their omission of the role of violence, war, enslavement, and conquest in the historical accumulation of land and wealth. Marxist scholar David Harvey explains Marx's primitive accumulation as a process which principally "entailed taking land, say, enclosing it, and expelling a resident population to create a landless proletariat, and th ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Marxian Economics
Marxian economics, or the Marxian school of economics, is a heterodox school of political economic thought. Its foundations can be traced back to Karl Marx's critique of political economy. However, unlike critics of political economy, Marxian economists tend to accept the concept of the economy prima facie. Marxian economics comprises several different theories and includes multiple schools of thought, which are sometimes opposed to each other; in many cases Marxian analysis is used to complement, or to supplement, other economic approaches. An example can be found in the works of Soviet economists like Lev Gatovsky, who sought to apply Marxist economic theory to the objectives, needs, and political conditions of the socialist construction in the Soviet Union, contributing to the development of Soviet political economy. Marxian economics concerns itself variously with the analysis of crisis in capitalism, the role and distribution of the surplus product and surplus value in ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
James Steuart (economist)
Sir James Steuart, 3rd Baronet of Goodtrees and 7th Baronet of Coltness (; 21 October 1712 – 26 November 1780), also known as Sir James Steuart Denham, was a prominent Scottish Jacobite and author of "probably the first systematic treatise written in English about economics" and the first book in English with 'political economy' in the title. He assumed the surname of Denham late in life; he inherited his cousin's baronetcy of Coltness in 1773. Early life He was one of 12 children of Sir James Stewart, 1st Baronet, Solicitor General for Scotland under Queen Anne and George I, and was born in Edinburgh. His mother was Anne Dalrymple, daughter of Lord North Berwick, the Lord President of the Court of Session. After graduating from the University of Edinburgh he was admitted to the Scottish bar at the age of twenty-four. He then spent some years on the Continent, and while in Rome entered into relations with the Young Pretender, Charles Edward Stuart. He was in Edinburg ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Mode Of Production
In the Marxist theory of historical materialism, a mode of production (German: ''Produktionsweise'', "the way of producing") is a specific combination of the: * Productive forces: these include human labour power and means of production (tools, machinery, factory buildings, infrastructure, technical knowledge, raw materials, plants, animals, exploitable land). * Social and technical relations of production: these include the property, power and control relations (legal code) governing the means of production of society, cooperative work associations, relations between people and the objects of their work, and the relations among the social classes. Marx said that a person's productive ability and participation in social relations are two essential characteristics of social reproduction, and that the particular modality of those social relations in the capitalist mode of production is inherently in conflict with the progressive development of the productive capabilities of human ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Protectionism
Protectionism, sometimes referred to as trade protectionism, is the economic policy of restricting imports from other countries through methods such as tariffs on imported goods, import quotas, and a variety of other government regulations. Proponents argue that protectionist policies shield the producers, businesses, and workers of the import-competing sector in the country from foreign competitors and raise government revenue. Opponents argue that protectionist policies reduce trade, and adversely affect consumers in general (by raising the cost of imported goods) as well as the producers and workers in export sectors, both in the country implementing protectionist policies and in the countries against which the protections are implemented. Protectionism has been advocated mainly by parties that hold economic nationalist positions, while economically liberal political parties generally support free trade. There is a consensus among economists that protectionism has a ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Government Debt
A country's gross government debt (also called public debt or sovereign debt) is the financial liabilities of the government sector. Changes in government debt over time reflect primarily borrowing due to past government deficits. A deficit occurs when a government's expenditures exceed revenues. Government debt may be owed to domestic residents, as well as to foreign residents. If owed to foreign residents, that quantity is included in the country's external debt. In 2020, the value of government debt worldwide was $87.4 US trillion, or 99% measured as a share of gross domestic product (GDP). Government debt accounted for almost 40% of all debt (which includes corporate and household debt), the highest share since the 1960s. The rise in government debt since 2007 is largely attributable to stimulus measures during the Great Recession, and the COVID-19 recession. Governments may take on debt when the government's spending desires do not match government revenue flows. Taking deb ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Jacobin (politics)
A Jacobin (; ) was a member of the Jacobin Club, a revolutionary political movement that was the most famous political club during the French Revolution (1789–1799). The club got its name from meeting at the Dominican rue Saint-Honoré Monastery of the Jacobins. The Dominicans in France were called ''Jacobins'' (, corresponds to ''Jacques'' in French and ''James'' in English) because their first house in Paris was the Saint Jacques Monastery. The terms Jacobin and Jacobinism have been used in a variety of senses. Prior to 1793, the terms were used by contemporaries to describe the politics of Jacobins in the congresses of 1789 through 1792. With the ascendancy of Maximilien Robespierre and the Montagnards into 1793, they have since become synonymous with the policies of the Reign of Terror, with Jacobinism now meaning "Robespierrism". As Jacobinism was memorialized through legend, heritage, tradition and other nonhistorical means over the centuries, the term acquir ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Dutch Revolt
The Eighty Years' War or Dutch Revolt (; 1566/1568–1648) was an armed conflict in the Habsburg Netherlands between disparate groups of rebels and the Spanish government. The causes of the war included the Reformation, centralisation, excessive taxation, and the rights and privileges of the Dutch nobility and cities. After the initial stages, Philip II of Spain, the sovereign of the Netherlands, deployed his armies and regained control over most of the rebel-held territories. However, widespread mutinies in the Spanish army caused a general uprising. Under the leadership of the exiled William the Silent, the Catholic and Protestant-dominated provinces sought to establish religious peace while jointly opposing the king's regime with the Pacification of Ghent, but the general rebellion failed to sustain itself. Despite Governor of Spanish Netherlands and General for Spain, the Duke of Parma's steady military and diplomatic successes, the Union of Utrecht continued ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
East Indies
The East Indies (or simply the Indies) is a term used in historical narratives of the Age of Discovery. The ''Indies'' broadly referred to various lands in Eastern world, the East or the Eastern Hemisphere, particularly the islands and mainlands found in and around the Indian Ocean by Portuguese explorers, soon after the Cape Route was discovered. In a narrow sense, the term was used to refer to the Malay Archipelago, which today comprises the list of islands of the Philippines, Philippine Archipelago, Indonesian Archipelago, Borneo, and New Guinea. Historically, the term was used in the Age of Discovery to refer to the coasts of the landmasses comprising the Indian subcontinent and the Mainland Southeast Asia, Indochinese Peninsula along with the Malay Archipelago. Overview During the era of History of colonialism, European colonization, territories of the Spanish Empire in Asia were known as the Spanish East Indies for 333 years before the Treaty of Paris (1898), American ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
International Finance
International finance (also referred to as international monetary economics or international macroeconomics) is the branch of monetary economics, monetary and macroeconomics, macroeconomic interrelations between two or more countries. International finance examines the dynamics of the global financial system, international monetary systems, balance of payments, exchange rates, foreign direct investment, and how these topics relate to international trade. Sometimes referred to as multinational finance, international finance is additionally concerned with matters of international corporate finance, financial management. Investors and multinational corporations must assess and manage international risks such as political risk and foreign exchange risk, including transaction exposure, economic exposure, and translation exposure. Some examples of key concepts within international finance are the Mundell–Fleming model, the optimum currency area theory, purchasing power parity, intere ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Reserve Army Of Labour
Reserve army of labour is a concept in Karl Marx's critique of political economy. It refers to the unemployed and underemployed in capitalist society. It is synonymous with "industrial reserve army" or "relative surplus population", except that the unemployed can be defined as those actually looking for work and that the relative surplus population also includes people unable to work. The use of the word "army" refers to the workers being conscripted and regimented in the workplace in a hierarchy under the command or authority of the owners of capital. Marx did not invent the term "reserve army of labour". It was already being used by Friedrich Engels in his 1845 book '' The Condition of the Working Class in England''. What Marx did was theorize the reserve army of labour as a necessary part of the capitalist organization of work. Prior to what Marx regarded as the start of the capitalist era in human history (i.e. before the 16th century), structural unemployment on a mass s ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Labour Economics
Labour economics seeks to understand the functioning and dynamics of the Market (economics), markets for wage labour. Labour (human activity), Labour is a commodity that is supplied by labourers, usually in exchange for a wage paid by demanding firms. Because these labourers exist as parts of a social, institutional, or political system, labour economics must also account for social, cultural and political variables. Labour markets or job markets function through the interaction of workers and employers. Labour economics looks at the suppliers of labour services (workers) and the demanders of labour services (employers), and attempts to understand the resulting pattern of wages, employment, and income. These patterns exist because each individual in the market is presumed to make rational choices based on the information that they know regarding wage, desire to provide labour, and desire for leisure. Labour markets are normally geographically bounded, but the rise of the internet ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Means Of Production
In political philosophy, the means of production refers to the generally necessary assets and resources that enable a society to engage in production. While the exact resources encompassed in the term may vary, it is widely agreed to include the classical factors of production (land, labour, and capital) as well as the general infrastructure and capital goods necessary to reproduce stable levels of productivity. It can also be used as an abbreviation of the "means of production and distribution" which additionally includes the logistical distribution and delivery of products, generally through distributors; or as an abbreviation of the "means of production, distribution, and exchange" which further includes the exchange of distributed products, generally to consumers. The concept of "Means of Production" is used by researchers in various fields of study — including politics, economics, and sociology — to discuss, broadly, the relationship between anything that can have p ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
