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State Capitalist
State capitalism is an economic system in which the state undertakes business and commercial economic activity and where the means of production are nationalized as state-owned enterprises (including the processes of capital accumulation, centralized management and wage labor). The definition can also include the state dominance of corporatized government agencies (agencies organized using business-management practices) or of public companies (such as publicly listed corporations) in which the state has controlling shares. A state-capitalist country is one where the government controls the economy and essentially acts as a single huge corporation, extracting surplus value from the workforce in order to invest it in further production.Compare: This designation applies regardless of the political aims of the state, even if the state is nominally socialist. Some scholars argue that the economy of the Soviet Union and of the Eastern Bloc countries modeled after it, including ... [...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] |
Socialist
Socialism is an economic ideology, economic and political philosophy encompassing diverse Economic system, economic and social systems characterised by social ownership of the means of production, as opposed to private ownership. It describes the Economic ideology, economic, Political philosophy, political, and Social theory, social theories and Political movement, movements associated with the implementation of such systems. Social ownership can take various forms, including State ownership, public, Community ownership, community, Collective ownership, collective, cooperative, or Employee stock ownership, employee.: "Just as private ownership defines capitalism, social ownership defines socialism. The essential characteristic of socialism in theory is that it destroys social hierarchies, and therefore leads to a politically and economically egalitarian society. Two closely related consequences follow. First, every individual is entitled to an equal ownership share that earns an ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Investment (macroeconomics)
In macroeconomics, investment "consists of the additions to the nation's capital stock of buildings, equipment, software, and inventories during a year" or, alternatively, investment spending — "spending on productive physical capital such as machinery and construction of buildings, and on changes to inventories — as part of total spending" on goods and services per year. Krugman, Paul and Robin Wells (2012), 2nd ed. ''Economics'', p. 593. Worth Publishers. "accounting" The types of investment include residential investment in housing that will provide a flow of housing services over an extended time, non-residential fixed investment in things such as new machinery or factories, human capital investment in workforce education, and inventory investment (the accumulation, intentional or unintentional, of goods inventories) In measures of national income and output, " gross investment" (represented by the variable ) is a component of gross domestic product (), given in the fo ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Credit (finance)
Credit (from Latin verb ''credit'', meaning "one believes") is the trust which allows one party to provide money or resources to another party wherein the second party does not reimburse the first party immediately (thereby generating a debt), but promises either to repay or return those resources (or other materials of equal value) at a later date. The resources provided by the first party can be either property, fulfillment of promises, or performances. In other words, credit is a method of making reciprocity formal, legally enforceable, and extensible to a large group of unrelated people. The resources provided may be financial (e.g. granting a loan), or they may consist of goods or services (e.g. consumer credit). Credit encompasses any form of deferred payment. Credit is extended by a creditor, also known as a lender, to a debtor, also known as a borrower. Etymology The term "credit" was first used in English in the 1520s. The term came "from Middle French cré ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
World War I
World War I or the First World War (28 July 1914 – 11 November 1918), also known as the Great War, was a World war, global conflict between two coalitions: the Allies of World War I, Allies (or Entente) and the Central Powers. Fighting took place mainly in European theatre of World War I, Europe and the Middle Eastern theatre of World War I, Middle East, as well as in parts of African theatre of World War I, Africa and the Asian and Pacific theatre of World War I, Asia-Pacific, and in Europe was characterised by trench warfare; the widespread use of Artillery of World War I, artillery, machine guns, and Chemical weapons in World War I, chemical weapons (gas); and the introductions of Tanks in World War I, tanks and Aviation in World War I, aircraft. World War I was one of the List of wars by death toll, deadliest conflicts in history, resulting in an estimated World War I casualties, 10 million military dead and more than 20 million wounded, plus some 10 million civilian de ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Great Powers
A great power is a sovereign state that is recognized as having the ability and expertise to exert its influence on a global scale. Great powers characteristically possess military and economic strength, as well as diplomatic and soft power influence, which may cause middle or small powers to consider the great powers' opinions before taking actions of their own. International relations theorists have posited that great power status can be characterized into power capabilities, spatial aspects, and status dimensions. While some nations are widely considered to be great powers, there is considerable debate on the exact criteria of great power status. Historically, the status of great powers has been formally recognized in organizations such as the Congress of Vienna of 1814–1815Danilovic, Vesna. "When the Stakes Are High – Deterrence and Conflict among Major Powers", University of Michigan Press (2002), pp 27, 225–22(PDF chapter downloads) [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Military Socialism
Bourgeois socialism or conservative socialism was a term used by Karl Marx and Friedrich Engels in various pieces, including in ''The Communist Manifesto''. ''Conservative socialism'' was used as a rebuke by Marx for certain strains of socialism but has also been used by proponents of such a system. Viereck (2006), p. 74. Bourgeois socialists are described as those that advocate for preserving the existing society while only attempting to eliminate perceived evils of the system. Conservative socialism and right-wing socialism are also used as a descriptor, and in some cases as a pejorative, by free-market conservative and right-libertarian movements and politicians to describe more economically interventionist strands of conservatism, such as paternalistic conservatism. Perspectives and usage The Marxist view is such that the bourgeois socialist is the sustainer of the state of bourgeois class relations. In ''The Principles of Communism'', Friedrich Engels describes them as ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Economic Interventionism
A market intervention is a policy or measure that modifies or interferes with a market, typically done in the form of state action, but also by philanthropic and political-action groups. Market interventions can be done for a number of reasons, including as an attempt to correct market failures, or more broadly to promote public interests or protect the interests of specific groups. Economic interventions can be aimed at a variety of political or economic objectives, including but not limited to promoting economic growth, increasing employment, raising wages, raising or reducing prices, reducing income inequality, managing the money supply and interest rates, or increasing profits. A wide variety of tools can be used to achieve these aims, such as taxes or fines, state owned enterprises, subsidies, or regulations such as price floors and price ceilings. Basic forms Price floor and ceiling file:European Wheat Prices - A Price Floor Example.jpg, alt=a supply- ... [...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] |
Private Capitalism
''Laissez-faire'' ( , from , ) is a type of economic system in which transactions between private groups of people are free from any form of economic interventionism (such as subsidies or regulations). As a system of thought, ''laissez-faire'' rests on the following axioms: "the individual is the basic unit in society, i.e., the standard of measurement in social calculus; the individual has a natural right to freedom; and the physical order of nature is a harmonious and self-regulating system." The original phrase was ''laissez faire, laissez passer'', with the second part meaning "let (things) pass". It is generally attributed to Vincent de Gournay. Another basic principle of ''laissez-faire'' holds that markets should naturally be competitive, a rule that the early advocates of ''laissez-faire'' always emphasized. The Physiocrats were early advocates of ''laissez-faire'' and advocated for an ''impôt unique'', a tax on land rent to replace the "monstrous and crippling netwo ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Economy Of Singapore
The economy of Singapore is a Developed country, highly developed mixed economy, mixed market economy with dirigiste characteristics. Singapore's economy has been consistently ranked as the most open in the world, the Corruption in Singapore, joint 4th-least corrupt, and the most pro-business. Singapore has low tax rate, tax-rates and the List of countries by GDP (PPP) per capita, second highest per-capita GDP in the world in terms of purchasing power parity (PPP). The Asia-Pacific Economic Cooperation (APEC) is headquartered in Singapore. Alongside the business-friendly reputation for global and local Privately held company, privately held companies and Public company, public companies, various national state-owned enterprises play a substantial role in Singapore's economy. The sovereign wealth fund Temasek Holdings holds majority stakes in several of the nation's largest bellwether companies, such as Singapore Airlines, Singtel, ST Engineering and Mediacorp. With regards to ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Economy Of China
The People's Republic of China is a Developing country, developing Mixed economy, mixed socialist market economy, incorporating Industrial policy, industrial policies and strategic Five-year plans of China, five-year plans. —Xu, Chenggang. "The Fundamental Institutions of China's Reforms and Development." Journal of Economic Literature, vol. 49, no. 4, American Economic Association, 2011, pp. 1076–151, . —Nee, Victor, and Sonja Opper. "Political Capital in a Market Economy." Social Forces, vol. 88, no. 5, Oxford University Press, 2010, pp. 2105–32, . —Shue Tuck Wong & Sun Sheng Han (1998) Whither China's Market Economy? The Case of Lijin Zhen, Geographical Review, 88:1, 29–46, —Gregory C. Chow (2005) The Role of Planning in China's Market Economy, Journal of Chinese Economic and Business Studies, 3:3, 193–203, —HUA, HUANG. "The Market Economy in China." Security Dialogue, vol. 24, no. 2, SAGE Publications, Ltd., 1993, pp. 175–79, . —Chow, Gregory C. "Devel ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
