Capitalism
The degree of competition, role of intervention and regulation, and scope of state ownership varies across different models of capitalism.[5] Economists, political economists, and historians have taken different perspectives in their analysis of capitalism and recognized various forms of it in practice. These include laissez-faire capitalism, welfare capitalism, crony capitalism and state capitalism; each highlighting varying degrees of dependency on markets, public ownership, and inclusion of social policies. The extent to which different markets are free, as well as the rules defining private property, is a matter of politics and policy. Etymology[edit] The term capitalist as referring to an owner of capital (rather than its meaning of someone adherent to the economic system) shows earlier recorded use than the term capitalism, dating back to the mid-17th century. Economic elements[edit] The essential feature of capitalism is the investment of money in order to make a profit.[35]
Monetarism
Monetarism is a school of economic thought that emphasizes the role of governments in controlling the amount of money in circulation. It is the view within monetary economics that variation in the money supply has major influences on national output in the short run and the price level over longer periods and that objectives of monetary policy are best met by targeting the growth rate of the money supply.[1] Monetarism today is mainly associated with the work of Milton Friedman, who was among the generation of economists to accept Keynesian economics and then criticize Keynes' theory of gluts using fiscal policy (government spending). Description[edit] Monetarism is an economic theory that focuses on the macroeconomic effects of the supply of money and central banking. The result was summarized in a historical analysis of monetary policy, Monetary History of the United States 1867–1960, which Friedman coauthored with Anna Schwartz. Opposition to the gold standard[edit] Rise[edit] General:
Anglo-Saxon economy
The Anglo-Saxon model or Anglo-Saxon capitalism (so called because it is practiced in English-speaking countries such as the United Kingdom, the United States, Canada, New Zealand, Australia[1] and Ireland [2]) is a capitalist model that emerged in the 1970s[citation needed], based on the Chicago school of economics[citation needed]. However, its origins date to the 18th century in the United Kingdom under the ideas of the classical economist Adam Smith. Disagreements over meaning[edit] Proponents of the term "Anglo-Saxon economy" argue that the economies of these countries currently are so closely related in their liberalist and free market orientation that they can be regarded as sharing a specific macroeconomic model. Differences between Anglo-Saxon economies are illustrated by taxation and the welfare state. Although the term refers to the macroeconomics of Anglo-Saxon countries, it isn't limited to English-speaking countries. See also[edit] References[edit] Bibliography[edit]
Money supply
Money supply data are recorded and published, usually by the government or the central bank of the country. Public and private sector analysts have long monitored changes in money supply because of its effects on the price level, inflation, the exchange rate and the business cycle.[4] That relation between money and prices is historically associated with the quantity theory of money. The nature of this causal chain is the subject of contention. In addition, those economists seeing the central bank's control over the money supply as feeble say that there are two weak links between the growth of the money supply and the inflation rate. Empirical measures in the United States Federal Reserve System[edit] See also European Central Bank for other approaches and a more global perspective. Money is used as a medium of exchange, a unit of account, and as a ready store of value. This continuum corresponds to the way that different types of money are more or less controlled by monetary policy.
Social Responsibility: Chapter 1Social Responsibility Chapter
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Quantity theory of money
In monetary economics, the quantity theory of money states that money supply has a direct, proportional relationship with the price level. While mainstream economists agree that the quantity theory holds true in the long run, there is still disagreement about its applicability in the short run. Critics of the theory argue that money velocity is not stable and, in the short-run, prices are sticky, so the direct relationship between money supply and price level does not hold. Alternative theories include the real bills doctrine and the more recent fiscal theory of the price level. Origins and development of the quantity theory[edit] The quantity theory descends from Copernicus,[1][2] followers of the School of Salamanca, Jean Bodin,[3] and various others who noted the increase in prices following the import of gold and silver, used in the coinage of money, from the New World. John Maynard Keynes, like Marx, accepted the theory in general and wrote... "This Theory is fundamental. where and , or
Market Capitalism, State-Style
Ying Ma on The End of the Free Market: Who Wins the War Between States and Corporations? by Ian Bremmer. Ian Bremmer. The End of the Free Market: Who Wins the War Between States and Corporations? Portfolio. 240 Pages. $26.95. Ian bremmer believes that the free market is worth defending. That threat is state capitalism, and around the world it appears to be the new fad. The governments may be different, but the underlying logic is the same. State presence in the economy, however, does not automatically make a country state capitalist. Unfortunately for market capitalism, the great crash of 2008 has greatly burnished state capitalism’s credentials. Nonetheless, state capitalism is not the way to go, according to The End of the Free Market. Since the end of the Cold War, one authoritarian country after another — from Asia to the Middle East, from Russia to Latin America — has embraced capitalism. Of course, no country can rival China as the granddaddy of state capitalism today.
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The Market Capitalism Model
50 Life Hacks
Memorize something everyday.Not only will this leave your brain sharp and your memory functioning, you will also have a huge library of quotes to bust out at any moment. Poetry, sayings and philosophies are your best options.Constantly try to reduce your attachment to possessions.Those who are heavy-set with material desires will have a lot of trouble when their things are taken away from them or lost. Possessions do end up owning you, not the other way around. Become a person of minimal needs and you will be much more content.Develop an endless curiosity about this world.Become an explorer and view the world as your jungle. Read “Zen and the Art of Happiness” by Chris Prentiss.This book will give you the knowledge and instruction to be happy at all times regardless of the circumstances.
