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The term plutocracy is generally used as a pejorative to describe or warn against an undesirable condition. [3] [4] Throughout history, political thinkers and philosophers have condemned plutocrats for ignoring their social responsibilities, using their power to serve their own purposes and thereby increasing poverty and nurturing class conflict and corrupting societies with greed and hedonism.
A politically unstable and kleptocratic government that economically depends upon the exports of a limited resource (fruits, minerals), and usually features a society composed of stratified social classes, such as a great, impoverished ergatocracy and a ruling plutocracy, composed of the aristocracy of business, politics, and the military. [32]
Market anarchists recognize that anarchism has been historically identified with the socialist and anti-capitalist movement, arguing that anarcho-capitalists should explicitly reject capitalism and identify with the global anti-capitalist movement since by capitalism they mean the free market rather than actually existing capitalism, [264] [265 ...
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 ever-growing pie of capitalism gave birth to the modern industrial global economy since its rise from a local European phenomenon in the 16th century, according to Vanderbilt University.
In their study "Piketty and Plutonomy: The Revenge of Inequality" they state that in the long term the drivers of the further concentration of wealth are intact, including globalization and capitalism-friendly governments. However, they warn that in the short-term there is potential for a backlash.
The economic (left–right) axis measures one's opinion of how the economy should be run. [1] In economic terms, the political left is defined as the desire for the economy to be run by a cooperative collective agency, which can mean a sovereign state but also a network of communes , while the political right is defined as the desire for the ...
Schumpeter devotes the first 56 pages of the book to an analysis of Marxian thought and the place within it for entrepreneurs. Noteworthy is the way that Schumpeter points out the difference between the capitalist and the entrepreneur, a distinction that he claims Karl Marx would have been better served to have made (p. 52).