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Antisocialist
Criticism of socialism is any critique of socialist economics and socialist models of organization and their feasibility, as well as the political and social implications of adopting such a system. Some critiques are not necessarily directed toward socialism as a system but rather toward the socialist movement, Socialist Party, parties, or existing Socialist state, states. Some critics consider socialism to be a purely theoretical concept that should be criticized on theoretical grounds, such as in the economic calculation problem and the socialist calculation debate, while others hold that certain historical examples exist and that they can be criticized on practical grounds. Because there are many types of socialism, most critiques are focused on a specific type of socialism, that of the command economy and the experience of Soviet-type economies that may not apply to all forms of socialism. Different models of socialism conflict with each other over questions of property ow ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Pareto Efficiency
In welfare economics, a Pareto improvement formalizes the idea of an outcome being "better in every possible way". A change is called a Pareto improvement if it leaves at least one person in society better off without leaving anyone else worse off than they were before. A situation is called Pareto efficient or Pareto optimal if all possible Pareto improvements have already been made; in other words, there are no longer any ways left to make one person better off without making some other person worse-off. In social choice theory, the same concept is sometimes called the unanimity principle, which says that if ''everyone'' in a society (strict inequality, non-strictly) prefers A to B, society as a whole also non-strictly prefers A to B. The Pareto frontier, Pareto front consists of all Pareto-efficient situations. In addition to the context of efficiency in ''allocation'', the concept of Pareto efficiency also arises in the context of productive efficiency, ''efficiency in prod ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Friedrich Hayek
Friedrich August von Hayek (8 May 1899 – 23 March 1992) was an Austrian-born British academic and philosopher. He is known for his contributions to political economy, political philosophy and intellectual history. Hayek shared the 1974 Nobel Memorial Prize in Economic Sciences with Gunnar Myrdal for work on money and economic fluctuations, and the interdependence of economic, social and institutional phenomena. His account of how prices communicate information is widely regarded as an important contribution to economics that led to him receiving the prize. He was a major contributor to the Austrian school of economics. During his teenage years, Hayek fought in World War I. He later said this experience, coupled with his desire to help avoid the mistakes that led to the war, drew him into economics. He earned doctoral degrees in law in 1921 and political studies in 1923 from the University of Vienna. He subsequently lived and worked in Austria, Great Britain, the United Sta ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Nicolaas Pierson
Nicolaas Gerard Pierson (7 February 1839 – 24 December 1909) was a Dutch economist and Liberal statesman who served as the chairman of the Council of Ministers (Prime Minister) of the Netherlands from 1897 until 1901. Pierson was a professor economics and statistics at the University of Amsterdam and director and presiding director (''president-directeur'') of the De Nederlandsche Bank, the Dutch national bank. He was minister of Finance in the Cabinet Van Tienhoven. During his term of office he introduced an important tax revision. After serving as chairman of the Council of Ministers for four years he took a seat in the House of Representatives for the constituency of Gorinchem from 1905 to 1909. Pierson received an honorary doctorate from the University of Cambridge. Early life and education Nicolaas Gerard Pierson was born in Amsterdam on 7 February 1839, to Jan Lodewijk Gregory Pierson and his wife Ida Oyens. The youngest of six children, Pierson had two brothers and t ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Hermann Heinrich Gossen
Hermann Heinrich Gossen (7 September 1810 – 13 February 1858) was a German economist who is often regarded as the first to elaborate, in detail, a general theory of marginal utility. Prior to Gossen, a number of economic theorists, including Gabriel Cramer, Daniel Bernoulli, William Forster Lloyd, Nassau William Senior, and Jules Dupuit had employed or asserted the significance of some notion of marginal utility. But Cramer, Bernoulli, and Dupuit had focussed upon specific problems, Lloyd had not presented any applications of theory, and if Senior provided a detailed elaboration of the general theory he had developed, he had done so in language that caused his applications of theory to be missed by most readers. Life and family background Hermann Heinrich Gossen was born in Düren, Roer (department) (Roerdépartement, or Département de la Roer), First French Empire. Today that area is known as North Rhine-Westphalia, Germany. Hermann died in Cologne (Köln), North Rhine-W ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Central Economic Planning
A planned economy is a type of economic system where investment, production and the allocation of capital goods takes place according to economy-wide economic plans and production plans. A planned economy may use centralized, decentralized, participatory or Soviet-type forms of economic planning. The level of centralization or decentralization in decision-making and participation depends on the specific type of planning mechanism employed. Socialist states based on the Soviet model have used central planning, although a minority such as the former Socialist Federal Republic of Yugoslavia have adopted some degree of market socialism. Market abolitionist socialism replaces factor markets with direct calculation as the means to coordinate the activities of the various socially owned economic enterprises that make up the economy. More recent approaches to socialist planning and allocation have come from some economists and computer scientists proposing planning mechanisms based on ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Simple Supply And Demand
Simple or SIMPLE may refer to: *Simplicity, the state or quality of being simple Arts and entertainment * ''Simple'' (album), by Andy Yorke, 2008, and its title track * "Simple" (Florida Georgia Line song), 2018 * "Simple", a song by Johnny Mathis from the 1984 album ''A Special Part of Me'' * "Simple", a song by Collective Soul from the 1995 album ''Collective Soul'' * "Simple", a song by Katy Perry from the 2005 soundtrack to ''The Sisterhood of the Traveling Pants'' * "Simple", a song by Khalil from the 2017 album ''Prove It All'' * "Simple", a song by Kreesha Turner from the 2008 album '' Passion'' * "Simple", a song by Ty Dolla Sign from the 2017 album ''Beach House 3'' deluxe version * ''Simple'' (video game series), budget-priced console games Businesses and organisations * Simple (bank), an American direct bank * SIMPLE Group, a consulting conglomeration based in Gibraltar * Simple Shoes, an American footwear brand * Simple Skincare, a British brand of soap ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Economic Planning
Economic planning is a resource allocation mechanism based on a computational procedure for solving a constrained maximization problem with an iterative process for obtaining its solution. Planning is a mechanism for the allocation of resources between and within organizations contrasted with the Market (economics), market mechanism. As an allocation mechanism for socialism, economic planning replaces factor markets with a procedure for direct allocations of resources within an interconnected group of Social ownership, socially owned organizations which together comprise the productive apparatus of the economy. There are various forms of economic planning that vary based on their specific procedures and approach. The level of centralization or decentralization in decision-making depends on the specific type of planning mechanism employed. In addition, one can distinguish between centralized planning and decentralized planning. An economy primarily based on planning is referred to ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Public Ownership
State ownership, also called public ownership or government ownership, is the ownership of an industry, asset, property, or enterprise by the national government of a country or state, or a public body representing a community, as opposed to an individual or private party. Public ownership specifically refers to industries selling goods and services to consumers and differs from public goods and government services financed out of a government's general budget. Public ownership can take place at the national, regional, local, or municipal levels of government; or can refer to non-governmental public ownership vested in autonomous public enterprises. Public ownership is one of the three major forms of property ownership, differentiated from private, collective/cooperative, and common ownership. In market-based economies, state-owned assets are often managed and operated as joint-stock corporations with a government owning all or a controlling stake of the company's sh ... [...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] |
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] |
Private Ownership
Private property is a legal designation for the ownership of property by non-governmental Capacity (law), legal entities. Private property is distinguishable from public property, which is owned by a state entity, and from Collective ownership, collective or cooperative property, which is owned by one or more non-governmental entities. Private property is foundational to capitalism, an economic system based on the private ownership of the means of production and their operation for Profit (economics), profit. As a legal concept, private property is defined and enforced by a country's political system. History The first evidence of private property may date back to the Babylonians in 1800 BC, as evidenced by the archeological discovery of Plimpton 322, a clay tablet used for calculating property boundaries; however, written discussions of private property were not seen until the Persian Empire, and emerged in the Western tradition at least as far back as Plato. Before the 1 ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
