Conflict theoriesConflict theories are perspectives in sociology and social psychology that emphasize a materialist interpretation of history, dialectical method of analysis, a critical stance toward existing social arrangements, and political program of revolution or, at least, reform. Conflict theories draw attention to power differentials, such as class conflict, and generally contrast historically dominant ideologies. It is therefore a macro-level analysis of society.
Planned economyA planned economy is a type of economic system where the distribution of goods and services or the investment, production and the allocation of capital goods takes place according to economic plans that are either economy-wide or limited to a category of goods and services. A planned economy may use centralized, decentralized, participatory or Soviet-type forms of economic planning. The level of centralization or decentralization in decision-making and participation depends on the specific type of planning mechanism employed.
Creative destructionCreative destruction (German: schöpferische Zerstörung) is a concept in economics that describes a process in which new innovations replace and make obsolete older innovations. The concept is most readily identified with the Austrian economist Joseph Schumpeter, who derived it from the work of Karl Marx and popularized it as a theory of economic innovation and the business cycle. It is also sometimes known as Schumpeter's gale. In Marxian economic theory, the concept refers more broadly to the linked processes of the accumulation and annihilation of wealth under capitalism.
Max WeberMaximilian Karl Emil Weber (ˈveɪbər; ˈveːbɐ; 21 April 1864 - 14 June 1920) was a German sociologist, historian, jurist and political economist, who is regarded as among the most important theorists of the development of modern Western society. His ideas profoundly influence social theory and research. While Weber did not see himself as a sociologist, he is recognized as one of the fathers of sociology, along with Karl Marx and Émile Durkheim. Born in Erfurt in 1864, Weber studied law and history at the universities of Berlin, Göttingen, and Heidelberg.
Economic calculation problemThe economic calculation problem (sometimes abbreviated ECP) is a criticism of using economic planning as a substitute for market-based allocation of the factors of production. It was first proposed by Ludwig von Mises in his 1920 article "Economic Calculation in the Socialist Commonwealth" and later expanded upon by Friedrich Hayek. In his first article, Mises described the nature of the price system under capitalism and described how individual subjective values (while criticizing other theories of value) are translated into the objective information necessary for rational allocation of resources in society.
LeninismLeninism is a political ideology developed by Russian Marxist revolutionary Vladimir Lenin that proposes the establishment of the dictatorship of the proletariat led by a revolutionary vanguard party as the political prelude to the establishment of communism. The function of the Leninist vanguard party is to provide the working classes with the political consciousness (education and organisation) and revolutionary leadership necessary to depose capitalism.
SuperprofitSuperprofit, surplus profit or extra surplus-value (extra-Mehrwert) is a concept in Karl Marx's critique of political economy subsequently elaborated by Vladimir Lenin and other Marxist thinkers. The term superprofit (extra surplus-value) was first used by Marx in Das Kapital. It refers to above-average enterprise profits, arising in three main situations: Technologically advanced firms operating at above average productivity in a competitive growing market.
Literary criticismLiterary criticism (or literary studies) is the study, a genre of arts criticism, evaluation, and interpretation of literature. Modern literary criticism is often influenced by literary theory, which is the philosophical discussion of literature's goals and methods. Though the two activities are closely related, literary critics are not always, and have not always been, theorists. Whether or not literary criticism should be considered a separate field of inquiry from literary theory is a matter of some controversy.
Division of labourThe division of labour is the separation of the tasks in any economic system or organisation so that participants may specialize (specialisation). Individuals, organizations, and nations are endowed with or acquire specialized capabilities, and either form combinations or trade to take advantage of the capabilities of others in addition to their own. Specialized capabilities may include equipment or natural resources as well as skills. Training and combinations of equipment and other assets acting together are often important.
DialecticDialectic (διαλεκτική, dialektikḗ; Dialektik), also known as the dialectical method, refers originally to dialogue between people holding different points of view about a subject, but wishing to arrive at the truth through reasoned argumentation. Dialectic resembles debate, but the concept excludes subjective elements such as emotional appeal and rhetoric. It has its origins in ancient philosophy and continued to be developed in the Middle Ages. In the modern period, Hegelianism refigured "dialectic" to no longer refer to a literal dialogue.
