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Moral economy is a way of viewing economic activity in terms of its moral, rather than material, aspects. The concept was developed in 1971 by British Marxist social historian and political activist E. P. Thompson in his essay, "The Moral Economy of the English Crowd in the Eighteenth Century".
Ethical socialism is a political philosophy that appeals to socialism on ethical and moral grounds as opposed to consumeristic, economic, and egoistic grounds. [1] It emphasizes the need for a morally conscious economy based upon the principles of altruism, cooperation, and social justice while opposing possessive individualism. [2]
An ideology is a collection of ideas. Typically, each ideology contains certain ideas on what it considers to be the best form of government (e.g. autocracy or democracy) and the best economic system (e.g. capitalism or socialism). The same word is sometimes used to identify both an ideology and one of its main ideas.
It is not to be confused with the more general idea of progress in relation to economic growth. Economic progressivism is based on the idea that capitalist markets left to operate with limited government regulation are inherently unfair, favoring big business, large corporations and the wealthy.
Corporatocracy [a] or corpocracy is an economic, political and judicial system controlled or influenced by business corporations or corporate interests. [ 1 ] The concept has been used in explanations of bank bailouts , excessive pay for CEOs , and the exploitation of national treasuries, people, and natural resources . [ 2 ]
Progressive economic policies incorporate the socioeconomic principles and views of social democracy and political progressivism. These views are often rooted in the concept of social justice and have the goal of improving the human condition through government regulation, social protections, and the maintenance of public goods. [2]
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.
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).