Political economy Political economy The term Clintonomics, a portmanteau of Clinton and economics, was used to describe, and decry, the economic policies of U.S. President Bill Clinton during the 1990s. Clinton assumed office at the tail end of a recession, and the economic theories he utilized and implemented are claimed by his supporters to have eventually led to a strong recovery, though Clinton's opponents deny this. ...more on Wikipedia about "Clintonomics"
Common ownership is a principle according to which the assets of an enterprise or other organisation are held indivisibly rather than in the names of the individual members. Thus, rather than being “owners” of the enterprise, its members are held to be trustees of it and its assets for future generations. Common ownership is a way of “neutralising” capital, and vesting control of an enterprise by virtue of participation in it, rather than by the injection of capital. ...more on Wikipedia about "Common ownership"
In economics, crisis is an old term in business cycle theory, referring to the sharp transition to a recession. It is still used as part of Marxist political economy. It refers to a period in which the normal process of the reproduction of an economic process over time suffers from a temporary breakdown. This crisis period encourages intensified class conflict or societal change -- or the revival of a more normal accumulation process. ...more on Wikipedia about "Crisis (economic)"
Crisis theory is a debate within the Marxian theory of political economy. It is concerned with explaining the business cycle in capitalism, particularly recession, drawing on Karl Marx's account of value relations. ...more on Wikipedia about "Crisis theory"
Dirigisme (from the French) (in English also "dirigism" although per the OED both spellings are used) is an economic term designating an economy where the government exerts strong directive influence. ...more on Wikipedia about "Dirigisme"
(Doi moi) Đổi mới (renovation) is the name given to the economic reforms initiated by the Socialist Republic of Vietnam in the mid- 1980s. As a result of Đổi mới many free-market enterprises were permitted (and, indeed, later encouraged) by the Communist Party of Vietnam; furthermore, the push to collectivize the industrial and agricultural operations of Vietnam, previously the focus of intense efforts by the Communist authorities, was essentially abandoned. ...more on Wikipedia about "Doi moi"
Economic interventionism is a term used to describe any positive (as opposed to defensive) activity undertaken by a central government to affect a country's economy in an attempt to increase economic growth and/or standards of living. The term was popularised by Ludwig von Mises, and is particularly common in the works of classical liberal and libertarian writers. ...more on Wikipedia about "Economic interventionism"
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Economic militarism is a term used to describe the ideology surrounding the use of military expenditure to prop up an economy, or the use of military power to gain control or access to territory or other economic resources. ...more on Wikipedia about "Economic militarism"
Economic nationalism is a term used to describe policies which are guided by the idea of protecting domestic consumption, labor and capital formation, even if this requires the imposition of tariffs and other restrictions on the movement of labour, goods and capital. It is in opposition to globalization in many cases, or at least it questions the perceived benefits of unrestricted free trade. Economic nationalism may include such doctrines as protectionism and import substitution. ...more on Wikipedia about "Economic nationalism"
Electricity liberalization refers to the liberalization of electricity markets. As electricity supply is a natural monopoly, this entails complex and costly systems of regulation to enforce a system of competition. ...more on Wikipedia about "Electricity liberalization"
International sanctions are actions taken by countries against others for political reasons, either unilaterally or multilaterally. ...more on Wikipedia about "International sanctions"
An investment policy is any government regulation or law that encourages or discourages foreign investment in the local economy, e.g. currency exchange limits. ...more on Wikipedia about "Investment policy"
In economic theory, the Lange-Lerner-Taylor theorem states that an economy in which all production is performed by the state, but in which there is a functioning price mechanism, has similar properties to a market economy under perfect competition, in that it achieves Pareto efficiency. ...more on Wikipedia about "Lange-Lerner-Taylor theorem"
Description: The book is usually considered to be the beginning of modern economics. It begins with a discussion of the Industrial Revolution. Later it critiques the mercantilism and a synthesis of the emerging economic thinking of his time. It is mostly known due to the idea of The Invisible Hand which is an often quoted phrase from the book. Its meaning is that people will unintentionally improve their community through pursuit of their own wants and needs. The Butcher, the Baker, and the Brewer provide goods and services to each other out of self-interest; the unplanned result of this division of labor is a better standard of living for all three. ...more on Wikipedia about "List of publications in economics" Can you feel it? www.shortopedia.com.
Market socialism is an economic system in which the means of production are owned either by the state or by cooperatives, and that production and distribution of goods is not centrally planned but mediated through a price mechanism similar to that of the market, but set by a government agency. Its central idea is that the free market is fully compatible with collective worker ownership over the means of production — which is one of the fundamental principles of socialism. ...more on Wikipedia about "Market socialism"
The term military-industrial complex usually refers to the combination of the U.S. armed forces, arms industry and associated political and commercial interests, which grew rapidly in scale and influence in the wake of World War II, although it can also be used to describe any such relationship of industry and military. It is sometimes used to refer to the iron triangle that is argued to exist among weapons makers/ military contractors, The Pentagon and the United States Congress. ...more on Wikipedia about "Military-industrial complex"
Municipalization is the transfer of corporations or other assets to municipal ownership. The transfer may be from private ownership (usually by purchase) or from other levels of government. ...more on Wikipedia about "Municipalization"
New totalitarianism is a term coined by ethicist John McMurtry to describe the political economy implied by so-called market theology; in other words, the ethics resolved wholly by the global markets with existing state power balances. ...more on Wikipedia about "New totalitarianism"
Participatory budgeting is an attempt to allow citizens to participate in the decision on how public budgets should be spent. The typical participatory budget problem is to select a set of projects among many with different costs when the budget is restricted and people have different opinions on their benefits. The first experiment of participatory budgeting was performed in Pelotas, Brazil, but it became famous when applied in Porto Alegre in 1989. As of 2003, more than 200 municipalities are estimated to experiment participatory budgeting. ...more on Wikipedia about "Participatory budgeting"
The peace dividend is a political slogan purporting to describe the economic benefit of a decrease in defense spending. It is used primarily in discussions relating to the guns versus butter theory. The term was frequently used at the end of the Cold War, when many Western nations significantly cut military spending. ...more on Wikipedia about "Peace dividend"
Political Economy was the original term for the study of production, the acts of buying and selling, and their relationships to laws, customs and government. It developed in 18th century as the study of the economies of states (also known as polities, hence the word "political" in "political economy"). In contradistinction to the theory of the Physiocrats, in which land was seen as the source of all wealth, political economists proposed the labour theory of value (first introduced by John Locke, developed by Adam Smith and later Karl Marx), according to which labour is the real source of value. Political economists also attracted attention to the accelerating development of technology, whose role in economic and social relationships grew ever more important. ...more on Wikipedia about "Political economy"
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Public ownership (also called government ownership or state ownership) is government ownership of any asset, industry, or corporation at any level, national, regional or local ( municipal). The process of bringing an asset into public ownership is called nationalization or municipalization. ...more on Wikipedia about "Public ownership"
Public services is a term usually used to mean services provided by government to its citizens, either directly (through the public sector) or by financing private provision of services. The term is associated with a social consensus (usually expressed through democratic elections) that certain services should be available to all, regardless of income. Even where public services are neither publicly-provided nor publicly-financed, for social and political reasons they are usually subject to regulation going beyond that applying to most economic sectors. ...more on Wikipedia about "Public services"
A public utility is a company that maintains the infrastructure for a public service. Public utilities often involve natural monopolies, and as a result are often government monopolies, or (if privately owned) treated as specially regulated sectors. Public utilities can be privately owned or publicly owned. Publicly owned utilities include cooperative and municipal utilities. Municipal utilities may actually include territories outside of city limits or may not even serve the entire city. Cooperative utilities are owned by the customers they serve. They are usually found in rural areas. Private utilities, also called investor owned utilities, are owned by investors. Unlike private companies, private utilities may be listed on the stock exchange. Private, in this context, means not owned by the public or the government. ...more on Wikipedia about "Public utility"
The term Reaganomics, a portmanteau of Reagan and economics, was used to describe, and decry, the economic policies of U.S. President Ronald Reagan during the 1980s. Reagan assumed office during a period of high inflation and unemployment, which had largely abated by the time he left office. It is a matter of contentious political debate to what extent this was caused by Reagan's fiscal policies and to what extent it was due to external factors. ...more on Wikipedia about "Reaganomics" The view on http://www.shortopedia.com.
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