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Classical economics focuses on the tendency of markets to move to equilibrium and on objective theories of value. Neo-classical economics differs from classical economics primarily in being utilitarian in its value theory and using marginal theory as the basis of its models and equations. Marxian economics also descends from classical theory.
Pages in category "Economic theories" The following 67 pages are in this category, out of 67 total. This list may not reflect recent changes. ...
An economic ideology is a set of views forming the basis of an ideology on how the economy should run. It differentiates itself from economic theory in being normative rather than just explanatory in its approach, whereas the aim of economic theories is to create accurate explanatory models to describe how an economy currently functions.
A form of government where the monarch is elected, a modern example being the King of Cambodia, who is chosen by the Royal Council of the Throne; Vatican City is also often considered a modern elective monarchy. Self-proclaimed monarchy: A form of government where the monarch claims a monarch title without a nexus to the previous monarch dynasty.
The early theory of economic liberalism was based on the assumption that the economic actions of individuals are largely based on self-interest (invisible hand) and that allowing them to act without any restrictions will produce the best results for everyone (spontaneous order), provided that at least minimum standards of public information and ...
The Arthashastra posits the theory that there are four necessary fields of knowledge: the Vedas, the Anvikshaki (philosophy of Samkhya, Yoga and Lokayata), the science of government, and the science of economics (Varta of agriculture, cattle, and trade). It is from these four that all other knowledge, wealth, and human prosperity is derived.
[3] [4] There is a later version of the benefit theory known as the "voluntary exchange" theory. [5] Under the benefit theory, tax levels are automatically determined, because taxpayers pay proportionately for the government benefits they receive. In other words, the individuals who benefit the most from public services pay the most taxes.
Jean-Jacques Rousseau, Discours sur l'oeconomie politique, 1758. Political or comparative economy is a branch of political science and economics studying economic systems (e.g. markets and national economies) and their governance by political systems (e.g. law, institutions, and government).