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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.
Finance capitalism is the subordination of processes of production to the accumulation of money profits in a financial system. In their critique of capitalism, Marxism and Leninism both emphasise the role of finance capital as the determining and ruling-class interest in capitalist society, particularly in the latter stages. [149] [150]
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.
Crony capitalism, sometimes also called simply cronyism, is a pejorative term used in political discourse to describe a situation in which businesses profit from a close relationship with state power, either through an anti-competitive regulatory environment, direct government largesse, and/or corruption. [1]
Here’s how Varoufakis broke down his own journey to realizing that capitalism died without (almost) anyone realizing it, how it has especially “poisoned” Gen Z, how the Fortune 500 is in ...
Term Description Examples Autocracy: Autocracy is a system of government in which supreme power (social and political) is concentrated in the hands of one person or polity, whose decisions are subject to neither external legal restraints nor regularized mechanisms of popular control (except perhaps for the implicit threat of a coup d'état or mass insurrection).
On its release day, February 21, It's OK to be Angry About Capitalism topped Amazon's best-seller list in the U.S. national government, political economy, and economic conditions categories. [5] According to The Sydney Morning Herald, the book is a "damning indictment of the past 40 years of largely unfettered, neoliberal capitalism". [24]
Key parameters of debate include: the extent to which capitalism is natural, versus the extent to which it arises from specific historical circumstances; whether its origins lie in towns and trade or in rural property relations; the role of class conflict; the role of the state; the extent to which capitalism is a distinctively European ...