Search results
Results from the WOW.Com Content Network
Karl Marx's three volume Capital: A Critique of Political Economy is widely regarded as one of the greatest written critiques of capitalism. Criticism of capitalism is a critique of political economy that involves the rejection of, or dissatisfaction with the economic system of capitalism and its outcomes. Criticisms typically range from ...
Scarcity plays a key role in economic theory, and it is essential for a "proper definition of economics itself". [3] "The best example is perhaps Walras' definition of social wealth, i.e., economic goods. [3] 'By social wealth', says Walras, 'I mean all things, material or immaterial (it does not matter which in this context), that are scarce ...
IMF economist Carlos Góes researched the basic thesis put forth by the book – that when the rate of return on capital (r) is greater than the rate of economic growth (g) over the long term, the result is concentration of wealth – and found no empirical support for it; in fact, an opposite trend was identified in 75% of the countries ...
Capital accumulation forms the basis of capitalism, where economic activity is structured around the accumulation of capital, defined as investment in order to realize a financial profit. [174] In this context, "capital" is defined as money or a financial asset invested for the purpose of making more money (whether in the form of profit, rent ...
Kaldor's facts are six statements about economic growth, proposed by Nicholas Kaldor in his article from 1961. He described these as "a stylized view of the facts", which coined the term stylized fact .
Economic sociology arose as a new approach to the analysis of economic phenomena; emphasizing particularly the role of economic structures and institutions that play upon society, and the influence a society holds over the nature of economic structures and institutions.
In economics, capital goods or capital are "those durable produced goods that are in turn used as productive inputs for further production" of goods and services. [1] A typical example is the machinery used in a factory. At the macroeconomic level, "the nation's capital stock includes buildings, equipment, software, and inventories during a ...
In Marxian economics and preceding theories, [1] the problem of primitive accumulation (also called previous accumulation, prior accumulation, or original accumulation) of capital concerns the origin of capital and therefore how class distinctions between possessors and non-possessors came to be.