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Socioeconomic status has long been related to health, those higher in the social hierarchy typically enjoy better health than those below. [23] Socioeconomic status is an important source of health inequity, as there is a very robust positive correlation between socioeconomic status and health. This correlation suggests that it is not only the ...
Social metabolism or socioeconomic metabolism is the set of flows of materials and energy that occur between nature and society, between different societies, and within societies. These human-controlled material and energy flows are a basic feature of all societies but their magnitude and diversity largely depend on specific cultures, or ...
The economic history of the world encompasses the development of human economic activity throughout time. It has been estimated that throughout prehistory, the world average GDP per capita was about $158 per annum (inflation adjusted for 2013), and did not rise much until the Industrial Revolution .
The world economy manifests a global division of labor with three overarching classes: core countries, semi-periphery countries and periphery countries, [40] according to World-systems and Dependency theories. Core nations primarily own and control the major means of production in the world and perform the higher-level production tasks and ...
Economic history is the study of history using methodological tools from economics or with a special attention to economic phenomena. Research is conducted using a combination of historical methods, statistical methods and the application of economic theory to historical situations and institutions.
An economic system can be considered a part of the social system and hierarchically equal to the law system, political system, cultural and so on. There is often a strong correlation between certain ideologies, political systems and certain economic systems (for example, consider the meanings of the term "communism"). Many economic systems ...
The earlier term for the discipline was "political economy", but since the late 19th century, it has commonly been called "economics". [22] The term is ultimately derived from Ancient Greek οἰκονομία (oikonomia) which is a term for the "way (nomos) to run a household (oikos)", or in other words the know-how of an οἰκονομικός (oikonomikos), or "household or homestead manager".
Marx's theory of history asserts that in the history of economic systems such as capitalism and feudalism, class struggle is "the central fact of social evolution." [ 8 ] Indeed, the first sentence of Chapter 1 of the Communist Manifesto reads: "The history of all hitherto existing society is the history of class struggles."