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Computer-based forms of democratic economic planning and coordination between economic enterprises have also been proposed by various computer scientists and radical economists. [25] [7] [24] Proponents present decentralized and participatory economic planning as an alternative to market socialism for a post-capitalist society. [52]
The history of economic thought is the study of the philosophies of the different thinkers and theories in the subjects that later became political economy and economics, from the ancient world to the present day. This field encompasses many disparate schools of economic thought.
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 ...
Economic planning is a resource allocation mechanism based on a computational procedure for solving a constrained maximization problem with an iterative process for obtaining its solution. Planning is a mechanism for the allocation of resources between and within organizations contrasted with the market mechanism.
History of European Ideas 24.4–5 (1998): 267–99. Hauk, A. M. (2012) Methodology of the Social Sciences, Ethics, and Economics in the Newer Historical School: From Max Weber and Rickert to Sombart and Rothacker Ed. Peter Koslowski. Springer Science & Business Media. Hodgson, Geoffrey M. (2001). How economics forgot history.
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.
In the history of economic thought, ancient economic thought refers to the ideas from people before the Middle Ages. Economics in the classical age is defined in the modern analysis as a factor of ethics and politics, only becoming an object of study as a separate discipline during the 18th century.
Soviet-type economic planning (STP) is the specific model of centralized planning employed by Marxist–Leninist socialist states modeled on the economy of the Soviet Union. The post- perestroika analysis of the system of the Soviet economic planning describes it as the administrative-command system due to the de facto priority of highly ...