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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]
The Anglo-Saxon model (so called because it is practiced in Anglosphere countries such as the United Kingdom, the United States, Canada, New Zealand, Australia [1] and Ireland [2]) is a regulated market-based economic model that emerged in the 1970s based on the Chicago school of economics, spearheaded in the 1980s in the United States by the economics of then President Ronald Reagan (dubbed ...
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.
In later editions of Principles of Political Economy (1848), Mill would argue that "as far as economic theory was concerned, there is nothing in principle in economic theory that precludes an economic order based on socialist policies." [16] Henry George, a social reformer whose geoist movement greatly influenced the development of democratic ...
Critics on the free-market right argue that postliberalism’s embrace of economic planning and regulation and skepticism of the free market risks damaging economic growth. [16] Other conservative critics observed that postliberalism undervalues the importance of individual freedom and the economic benefits of free market capitalism.
Ideas have consequences, and moral-cultural power is subject to the same temptations as economic and political power if attempts "to dominate both the state and the economy." Two temptations are the power and status available to those that help grow the state, and the notoriety available to those that debunk institutions and values that stand ...
Progressive economic policies emerged as a response to the excessive big business power and the concentration of wealth and power amongst a very small fraction of society during the Gilded Age. This period introduced many landmark economic policies, including the introduction of an income tax in 1913.
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".