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Also called resource cost advantage. The ability of a party (whether an individual, firm, or country) to produce a greater quantity of a good, product, or service than competitors using the same amount of resources. absorption The total demand for all final marketed goods and services by all economic agents resident in an economy, regardless of the origin of the goods and services themselves ...
Direct action is a term for economic and political behavior in which participants use agency—for example economic or physical power—to achieve their goals. The aim of direct action is to either obstruct a certain practice (such as a government's laws or actions) or to solve perceived problems (such as social inequality).
The Industrial Worker described direct action as "any effort made directly for the purpose of getting more of the goods from the boss." The eastern U.S. IWW publication Solidarity defined direct action as "dealing directly with the boss through your labor union. The strike in its different forms, is the best known example of 'direct action'." [90]
Karl Marx, considered by many as one of the founding fathers of anti-capitalist thought. Socialism advocates public or direct worker ownership and administration of the means of production and allocation of resources, and a society characterized by equal access to resources for all individuals, with an egalitarian method of compensation.
The nonexcludability aspect of public goods is where one facet of the collective action problem, known as the free-rider problem, comes into play. For instance, a company could put on a fireworks display and charge an admittance price of $10, but if community members could all view the fireworks display from their homes, most would choose not ...
Tucker derided profit as antithetical to free competition and criticised capitalism for "abolishing the free market", arguing that a truly free market was governed only by the cost of production. [ 79 ] At the center of his anti-capitalist critique were what he called the "Four Monopolies": [ 80 ] that of money , land , tariffs and patents .
In other words, money would be tightened up in the system. Since then, the Fed’s balance sheet has declined from nearly $9 trillion to $7.2 trillion . Raising interest rates has also been part ...
Market anarchism [1] is the branch of anarchism that advocates a free-market economic system based on voluntary interactions without the involvement of the state; a form of individualist anarchism [2] and libertarian socialism. [3]