Socialism Flashcards
What is socialist economics?
Socialist economics comprises the economic theories, practices and norms of hypothetical and existing socialist economic systems.[1] A socialist economic system is characterized by social ownership and operation of the means of production[2][3][4][5][6][7] that may take the form of autonomous cooperatives or direct public ownership wherein production is carried out directly for use rather than for profit.
As a term, socialist economics may also be applied to the analysis of former and existing economic systems that were implemented in socialist states such as in the works of Hungarian economist János Kornai.[22] 19th-century American individualist anarchist Benjamin Tucker, who connected the classical economics of Adam Smith and the Ricardian socialists as well as that of Pierre-Joseph Proudhon, Karl Marx and Josiah Warren to socialism, held that there were two schools of socialist thought, namely anarchist socialism and state socialism, maintaining that what they had in common was the labor theory of value.[23] Socialists disagree about the degree to which social control or regulation of the economy is necessary; how far society should intervene and whether government, particularly existing government, is the correct vehicle for change are issues of disagreement.[24] The goal of socialist economics is to neutralize capital, or in the case of market socialism to subject investment and capital to social planning
Karl Marx and Friedrich Engels believed that hunter-gatherer societies and some primitive agricultural societies were communal, and called this primitive communism. Engels wrote about this at length in the book The Origin of the Family, Private Property and the State, which was based on the unpublished notes of Marx on the work of Lewis Henry Morgan.
What were the Luddites protesting about?
The Luddites have been described as people violently opposed to technological change and the riots put down to the introduction of new machinery in the wool industry. Luddites were protesting against changes they thought would make their lives much worse, changes that were part of a new market system.
, socialism has undergone four periods:
the first in the 19th century was a period of utopian visions (1780s–1850s); then occurred the rise of revolutionary socialist and communist movements in the 19th century as the primary opposition to the rise of corporations and industrialization (1830–1916); the polarisation of socialism around the question of the Soviet Union and adoption of socialist or social democratic policies in response (1916–1989); and the response of socialism in the neoliberal era (1970s–present). As socialism developed, so did the socialist system of economics.
What was the idea of the revolution Proudhon?
Proudhon stresses that it is the exploitative nature of capitalism that creates the need for government, and that revolutionaries must change society by changing its economic basis. Then the authoritarian form of government will become superfluous.
Ricardian socialism is a branch of classical economic thought based upon the work of the economist David Ricardo (1772–1823). The term is used to describe economists in the 1820s and 1830s who developed a theory of capitalist exploitation from the theory developed by Ricardo that stated that labor is the source of all wealth and exchange value.[1] This principle extends back to the principles of English philosopher John Locke. The Ricardian socialists reasoned that labor is entitled to all it produces, and that rent, profit and interest were not natural outgrowths of the free market process but were instead distortions.
What is the law of value
The law of value only states a general regulative principle about the necessary and inevitable relationship between the trading values of commodities, and the socially average labour-time required to supply them. It is simply a law governing commodity exchange.
