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A periodization of capitalism seeks to distinguish stages of development that help understanding of features of capitalism through time. The best-known periodizations that have been proposed distinguish these stages as: Early / monopoly / state monopoly capitalism ; Free trade / monopoly / finance capitalism
The term "late capitalism" (Spätkapitalismus) was first used by the German social scientist Werner Sombart in a 1928 publication [7] after he had completed his three-volume magnum opus Der Moderne Kapitalismus ["Modern Capitalism"], which was published from 1902 through 1927 (only the first volume of Sombart's Modern capitalism has been translated into English so far. [8]).
The subject is constructed in late modernity against the backdrop of a fragmented world of competing and contrasting identities [6] and lifestyle cultures. [7] The framing matrix of the late modern personality is the ambiguous way the fluid social relations of late modernity impinge on the individual, producing a reflexive and multiple self. [8]
These, the late industrializers, raised their income and transformed their productive structures using borrowed technology. [ 2 ] Another take on this would be that the 1st industrial revolution was based on invention, the 2nd on the basis of innovation and more recently in the late industrializers are industrializing on the basis of learning.
Starting from around 2000, economists Yang Xiaokai and Lin Yifu had a famous academic debate about "backward disadvantage" and "backward advantage", [10] and their debate was essentially about whether the economic development of late-developing countries should take the path of institutional imitation or technological imitation. [11]
Economic growth, the increase in the amount of the goods and services produced by an economy over time; Input-output model, a quantitative economic technique that represents the interdependencies between different branches of a national economy or different regional economies
The development of one or more substantial manufacturing sectors with a high rate of growth; he indicates the leading sectors in the economy. Rostow regards the development of leading sectors as the 'analytical bone structure' of the stages of economic growth. There are generally three sectors of an economy: Primary Sector - Agriculture
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.