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Conversely, any economic quantity that is negatively correlated with the overall state of the economy is said to be countercyclical. [3] That is, quantities that tend to increase when the overall economy is slowing down are classified as 'countercyclical'. Unemployment is an example of a countercyclical variable. [4]
Social credit is a distributive philosophy of political economy developed in the 1920s and 1930s by C. H. Douglas.Douglas attributed economic downturns to discrepancies between the cost of goods and the compensation of the workers who made them.
A vicious circle (or cycle) is a complex chain of events that reinforces itself through a feedback loop, with detrimental results. [1] It is a system with no tendency toward equilibrium (social, economic, ecological, etc.), at least in the short run. Each iteration of the cycle reinforces the previous one, in an example of positive feedback. A ...
The social market economy (SOME; German: soziale Marktwirtschaft), also called Rhine capitalism, Rhine-Alpine capitalism, the Rhenish model, and social capitalism, [1] is a socioeconomic model combining a free-market capitalist economic system alongside social policies and enough regulation to establish both fair competition within the market and generally a welfare state.
As an approach to studying economic activity, economic reproduction contrasts with equilibrium economics, because economic reproduction is concerned not with statics or with how economic development gravitates towards an equilibrium, but rather with dynamics—that is, the motion of an economy. It is not concerned with the conditions of a ...
Solidarity economy or social and solidarity economy (SSE) refers to a wide range of economic activities that aim to prioritize social profitability instead of purely financial profits. A key feature that distinguishes solidarity economy entities from private and public enterprises is the participatory and democratic nature of governance in ...
Vietnam adopted an economic model it formally titled the socialist-oriented market economy. This economic system is a form of mixed-economy consisting of state, private, co-operative and individual enterprises coordinated by the market mechanism. This system is intended to be transitional stage in the development of socialism.
In the former sense, social democracy is considered to be more centrist and is more concerned of gradual improvements of the capitalist system, the mixed economy, and the welfare state, while some more radical social democrats, who describe themselves as democratic socialists, support a more anti-capitalist reformism, or through more radical ...