Concept
Human Action
Related concepts (7)
Authoritarian socialism
Authoritarian socialism, or socialism from above, is an economic and political system supporting some form of socialist economics while rejecting political liberalism. As a term, it represents a set of economic-political systems describing themselves as socialist and rejecting the liberal-democratic concepts of multi-party politics, freedom of assembly, habeas corpus and freedom of expression, either due to fear of the counter-revolution or as a means to socialist ends.
Marginal utility
In economics, utility refers to the satisfaction or benefit that consumers derive from consuming a product or service. Marginal utility, on the other hand, describes the change in pleasure or satisfaction resulting from an increase or decrease in consumption of one unit of a good or service. Marginal utility can be positive, negative, or zero. For example, when eating pizza, the second piece brings more satisfaction than the first, indicating positive marginal utility.
Praxeology
In philosophy, praxeology or praxiology (ˌpɹæksiˈɒlədʒi; ) is the theory of human action, based on the notion that humans engage in purposeful behavior, contrary to reflexive behavior and other unintentional behavior. French social philosopher Alfred Espinas gave the term its modern meaning, and praxeology was developed independently by two principal groups: the Austrian school, led by Ludwig von Mises, and the Polish school, led by Tadeusz Kotarbiński.
Marxism
Marxism is a method of socioeconomic analysis that uses a materialist interpretation of historical development, better known as historical materialism, to understand class relations and social conflict and a dialectical perspective to view social transformation. It originates from the works of 19th-century German philosophers Karl Marx and Friedrich Engels. As Marxism has developed over time into various branches and schools of thought, no single, definitive Marxist theory exists.
Market socialism
Market socialism is a type of economic system involving social ownership of the means of production within the framework of a market economy. Various models for such a system exist, usually involving some mix of public, cooperative, and privately owned enterprises. The central idea is that, as in capitalism, businesses compete for profits, however they will be "owned, or at least governed," by those who work in them. Market socialism differs from non-market socialism in that the market mechanism is utilized for the allocation of capital goods and the means of production.
Economic inequality
Economic inequality is an umbrella term for a) income inequality or distribution of income (how the total sum of money paid to people is distributed among them), b) wealth inequality or distribution of wealth (how the total sum of wealth owned by people is distributed among the owners), and c) consumption inequality (how the total sum of money spent by people is distributed among the spenders).
Laissez-faire
Laissez-faire (ˌlɛseɪˈfɛər ; from laissez faire lɛse fɛːʁ, let do) is a type of economic system in which transactions between private groups of people are free from any form of economic interventionism (such as subsidies or regulations). As a system of thought, laissez-faire rests on the following axioms: "the individual is the basic unit in society, i.e. the standard of measurement in social calculus; the individual has a natural right to freedom; and the physical order of nature is a harmonious and self-regulating system.