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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.
However, the first person to use the term anarcho-capitalism was Murray Rothbard, [89] who synthesized in the mid-20th century elements from the Austrian School, classical liberalism and 19th-century American individualist anarchists Benjamin Tucker and Lysander Spooner while rejecting their labor theory of value and the norms they derived from ...
Capitalism vs. Socialism: Free Market vs. Government Distribution. The primary difference between socialism and capitalism is the role of government. In socialist economies, a central body — the ...
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]
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]
What he found wasn’t capitalism, wasn’t even a marketplace, at all. “The moment you enter Amazon.com, you've exited capitalism,” he says, adding that it’s a trading platform, not a ...
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).
A similar two-dimensional chart appeared in 1970 in the publication The Floodgates of Anarchy by Stuart Christie and Albert Meltzer, but that work distinguished between the axes collectivism–capitalism on the one hand, individualism–totalitarianism on the other, with anarchism, fascism, "state communism" and "capitalist individualism" in ...