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Embedded Liberalism
Embedded liberalism is a term in international political economy for the global economic system and the associated international political orientation as they existed from the end of World War II to the 1970s. The system was set up to support a combination of free trade with the freedom for states to enhance their provision of welfare and to regulate their economies to reduce unemployment. The term was first used by the American political scientist John Ruggie in 1982. Mainstream scholars generally describe embedded liberalism as involving a compromise between two desirable but partially conflicting objectives. The first objective was to revive free trade. Before World War I, international trade formed a large portion of global GDP, but the classical liberal order which supported it had been damaged by war and by the Great Depression of the 1930s. The second objective was to allow national governments the freedom to provide generous welfare programmes and to intervene in their ec ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] [Amazon] |
Post-war Displacement Of Keynesianism
The post-war displacement of Keynesianism involved the replacement of Keynesian economics as the leading theoretical influence on economic life in the developed world. Similarly, the allied discipline known as development economics was largely displaced as the guiding influence on economic policies adopted by developing nations. Significant departures of government policy from the previous Keynesian orthodoxy largely took place in the late 1970s and early 1980s. These shifts were preceded by efforts to discredit Keyne's economic ideas intellectually, which had took place over several decades. The displacement of Keynesian thinking was driven by those who leaned towards purer free market policies, rather than the mixed economy which require a significant role for government intervention. Their motivations included a dislike of large governments which they saw as prone to interfere excessively in the lives of their citizens; an intellectual preference for Classical economics, Class ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] [Amazon] |
Industrial Revolution
The Industrial Revolution, sometimes divided into the First Industrial Revolution and Second Industrial Revolution, was a transitional period of the global economy toward more widespread, efficient and stable manufacturing processes, succeeding the Second Agricultural Revolution. Beginning in Kingdom of Great Britain, Great Britain around 1760, the Industrial Revolution had spread to continental Europe and the United States by about 1840. This transition included going from craft production, hand production methods to machines; new Chemical industry, chemical manufacturing and Puddling (metallurgy), iron production processes; the increasing use of Hydropower, water power and Steam engine, steam power; the development of machine tools; and rise of the mechanisation, mechanised factory system. Output greatly increased, and the result was an unprecedented rise in population and population growth. The textile industry was the first to use modern production methods, and textiles b ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] [Amazon] |
Glorious Revolution
The Glorious Revolution, also known as the Revolution of 1688, was the deposition of James II and VII, James II and VII in November 1688. He was replaced by his daughter Mary II, Mary II and her Dutch husband, William III of Orange (William III and II), a nephew of James who thereby had an interest to the throne irrespective of his marriage to his cousin Mary. The two ruled as joint monarchs of Kingdom of England, England, Kingdom of Scotland, Scotland, and Kingdom of Ireland, Ireland until Mary's death in 1694, when William became ruler in his own right. Jacobitism, the political movement that aimed to restore the exiled James or his descendants of the House of Stuart to the throne, persisted into the late 18th century. William's invasion was the last successful invasion of England. Despite his own Catholicism, usually an impediment to Protestant support, James became king in February 1685 with widespread backing from the Protestant majorities in England and Scotla ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] [Amazon] |
Autarky
Autarky is the characteristic of self-sufficiency, usually applied to societies, communities, states, and their economic systems. Autarky as an ideology or economic approach has been attempted by a range of political ideologies and movements, particularly leftist ones like African socialism, mutualism, war communism, communalism, swadeshi, syndicalism (especially anarcho-syndicalism), and left-wing populism, generally in an effort to build alternative economic structures or to control resources against structures a particular movement views as hostile. However, some right-wing ones, like nationalism, conservatism, and anti-globalism, along with even some centrist movements, have also adopted autarky, generally on a more limited scale, to develop a particular industry, to gain independence from other national entities or to preserve part of an existing social order. Proponents of autarky have argued for national self-sufficiency to reduce foreign economic, polit ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] [Amazon] |
Redistribution (cultural Anthropology)
In cultural anthropology and sociology, redistribution refers to a system of economic exchange involving the centralized collection of goods from members of a group followed by the redivision of those goods among those members. It is a form of reciprocity. Redistribution differs from simple reciprocity, which is a dyadic back-and-forth exchange between two parties. Redistribution, in contrast, consists of pooling, a system of reciprocities. It is a ''within'' group relationship, whereas reciprocity is a ''between'' relationship. Pooling establishes a centre, whereas reciprocity inevitably establishes two distinct parties with their own interests. While the most basic form of pooling is that of food within the family, it is also the basis for sustained community efforts under a political leader. Sahlins argues that generalized reciprocity within families by elders may be a "starting mechanism" for more general hierarchy, by placing many in the giver's debt. This leads to the ques ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] [Amazon] |
Reciprocity (cultural Anthropology)
In cultural anthropology, reciprocity refers to the non-market exchange of goods or labour ranging from direct barter (immediate exchange) to forms of gift exchange where a return is eventually expected (delayed exchange) as in the exchange of birthday gifts. It is thus distinct from the true gift, where no return is expected. When the exchange is immediate, as in barter, it does not create a social relationship. When the exchange is delayed, it creates both a relationship as well as an obligation for a return (i.e. debt). Hence, some forms of reciprocity can establish a hierarchy if the debt is not repaid. The failure to make a return may end a relationship between equals. Reciprocal exchanges can also have a political effect through the creation of multiple obligations and the establishment of leadership, as in the gift exchanges (Moka) between Big Men in Melanesia. Some forms of reciprocity are thus closely related to redistribution, where goods and services are collected b ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] [Amazon] |
Adam Smith
Adam Smith (baptised 1723 – 17 July 1790) was a Scottish economist and philosopher who was a pioneer in the field of political economy and key figure during the Scottish Enlightenment. Seen by some as the "father of economics"——— or the "father of capitalism".———— He is known for two classic works: ''The Theory of Moral Sentiments'' (1759) and ''The Wealth of Nations, An Inquiry into the Nature and Causes of the Wealth of Nations'' (1776). The latter, often abbreviated as ''The Wealth of Nations'', is regarded as his ''magnum opus'', marking the inception of modern economic scholarship as a comprehensive system and an academic discipline. Smith refuses to explain the distribution of wealth and power in terms of divine will and instead appeals to natural, political, social, economic, legal, environmental and technological factors, as well as the interactions among them. The work is notable for its contribution to economic theory, particularly in its exposition o ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] [Amazon] |
Robert Heilbroner
Robert L. Heilbroner (March 24, 1919 – January 4, 2005) was an American economist and historian of economic thought. The author of some two dozen books, Heilbroner was best known for ''The Worldly Philosophers: The Lives, Times and Ideas of the Great Economic Thinkers'' (1953), a survey of the lives and contributions of famous economists, notably Adam Smith, Karl Marx, and John Maynard Keynes. Early life and education Heilbroner was born in 1919, in New York City, to a wealthy German Jewish family. His father, Louis Heilbroner, was a businessman who founded the men's clothing retailer Weber & Heilbroner. Robert graduated from Harvard University in 1940 with a '' summa cum laude'' degree in philosophy, government and economics. During World War II, he served in the United States Army and worked at the Office of Price Control under John Kenneth Galbraith, the highly celebrated and controversial Institutionalist economist. Career After World War II, Heilbroner worked briefly ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] [Amazon] |
Fair
A fair (archaic: faire or fayre) is a gathering of people for a variety of entertainment or commercial activities. Fairs are typically temporary with scheduled times lasting from an afternoon to several weeks. Fairs showcase a wide range of goods, products, and services, and often include competitions, exhibitions, and educational activities. Fairs can be thematic, focusing on specific industries or interests. Types Variations of fairs include: * Art fairs, including art exhibitions and arts festivals * Book Fairs in communities and schools provide an opportunity for readers, writers, publishers to come together and celebrate literature. * County fair (US) or county show (UK), a public agricultural show exhibiting the equipment, animals, sports and recreation associated with agriculture and animal husbandry. * Festival, an event ordinarily coordinated with a theme e.g. music, art, season, tradition, history, ethnicity, religion, or a national holiday. * Health fair, an event d ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] [Amazon] |
Middle Ages
In the history of Europe, the Middle Ages or medieval period lasted approximately from the 5th to the late 15th centuries, similarly to the post-classical period of global history. It began with the fall of the Western Roman Empire and transitioned into the Renaissance and the Age of Discovery. The Middle Ages is the middle period of the three traditional divisions of Western history: classical antiquity, the medieval period, and the modern period. The medieval period is itself subdivided into the Early, High, and Late Middle Ages. Population decline, counterurbanisation, the collapse of centralised authority, invasions, and mass migrations of tribes, which had begun in late antiquity, continued into the Early Middle Ages. The large-scale movements of the Migration Period, including various Germanic peoples, formed new kingdoms in what remained of the Western Roman Empire. In the 7th century, North Africa and the Middle East—once part of the Byzantine Empire� ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] [Amazon] |
