Individualism: A Detailed Overview
Individualism is an important concept in both economics and politics. Similar to collectivism it is a foundational principle to understand most ideological systems. At its heart, individualism is a set of principles centered on the belief in the moral worth of the individual. This means, that economic or political systems based on the principles of […]
Socialism: A Detailed Summary
Socialism is a left-wing economic system that favors government intervention in the economy in order to try to decrease the imbalances created by laissez-faire capitalism. This article details the history, types, main principles, negatives and positives of socialism as an ideology.
Friedrich Hayek: A Detailed Biography
Friedrich Hayek was one of the most significant economic thinkers of the 20th century and championed free market capitalism. This article details the life and significance of Friedrich Hayek.
Consumerism: A Detailed Overview
Today, consumerism continues to intensify with influential marketing campaigns, outsourcing, and a cheap and steady supply of both resources and goods. This article details the history, significance, negatives and positives of consumerism.
Liberalism: A Detailed Overview
Liberalism has played an important role in shaping modern liberal democracies. This article details the main principles, history and types of liberalism throughout history. For instance, this article details classical liberalism and modern liberalism.
Mercantilism: A Detailed Summary
Mercantilism was an important aspect of life during the time of the Age of Exploration. This article details the history and significance of mercantilism.
Laissez-faire Capitalism: A Detailed Summary
Laissez-faire capitalism first emerged during the Enlightenment and promoted free markets, private ownership, and limited government. This article details the history and significance of laissez-faire capitalism.
Marxism: A Detailed Summary
In the early 20th century, Marxism inspired revolutions, most notably the Russian Revolution of 1917, which established the world’s first communist state under Vladimir Lenin. This article details the history, main principles and significance of Marxism.
Welfare State: A Detailed Summary
The welfare state includes principles from both sides of the economic spectrum, and is based on both capitalism and socialism. This article details the history, principles, positives and negatives of the welfare state.
Adam Smith: A Detailed Biography
Adam Smith, an important figure in economics, is best known for his influential work ‘Wealth of Nations’, that shaped the field of modern economics. Smith’s ideas on free markets, the division of labor, and the ‘invisible hand’ have become fundamental economic principles.