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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 concept of late capitalism (in German: Spätkapitalismus) was first used by the German social scientist Werner Sombart (1863-1941) in 1928, to describe the new capitalist order emerging at that time - with the claim, that it was the beginning of a new stage in the history of capitalism. [1]
Developmental stage theories / Child development stages – stages of child development. Erikson's stages of psychosocial development, as articulated by Erik Erikson, explain eight stages through which a healthily developing human should pass from infancy to late adulthood; Kohlberg's stages of moral development
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.
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]
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 ...
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.
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