By 1912 he had completed his first major work, Theory of Money and Credit. ... In the Theory of Money and Credit, Mises tried to integrate all parts of the economic system, which had previously been separated. ... The increase begins at one point in the economic system and prices will only rise as the new money spreads in ripples throughout the economy. ... Hayek was eventually awarded the Nobel Prize in Economics in 1974 for work on the Trade Cycle Theory. This Nobel Prize for Hayak was an end result of what began in Mises The Theory of Money and C...

• Word Count: 2749
• Approx Pages: 11
• Grade Level: Undergraduate

Marx's theory of history is an account of the different stages of government through history. ... Capitalism is a political system where privately owned factories exist in order to create profit for the owners. From this political theory comes the economic principle, the law of supply and demand. ... The mercantilist system rested on private property and the use of markets for the basic organization of economic activity. ... The old open-field system of crop rotation was an obstacle to increasing agriculture productivity. ...

• Word Count: 3577
• Approx Pages: 14
• Has Bibliography
• Grade Level: Undergraduate

So prolific is he that his eponymous theories, Marxism, are still being employed by sociologists, philosophers, and economists alike to this day. ... Eventually creating the school of thought that is now known as Marxism, many theories and ideas espoused by Marx still have a firm influence in sociology (Marx and McLellan, 2000). ... Capitalism is "an economic system characterized by private or corporate ownership of capital goods, by investments that are determined by private decision, and by prices, production, and the distribution of goods that are determined mainly by competition in ...

• Word Count: 2958
• Approx Pages: 12
• Has Bibliography
• Grade Level: Undergraduate

Plato refers to this as his theory of Mimesis, or imitation. Plato discusses his theory of mimesis in his "Allegory of the Cave" in Book VII of The Republic. ... He also predicts that like most other previous socioeconomic systems, capitalism will eventually produce internal tensions that will lead to a self-destruction then be replaced by a new system called socialism. ... Marxism recruits many critics that share the same theories as Marx's ideology throughout the years. Mikhail Bakhtin is a critic who studies literary theory, ethics, and the philosophy of language. ...

• Word Count: 2612
• Approx Pages: 10
• Grade Level: Undergraduate

Industrialisation was made out to be patriotic by the government and formed an essential pillar in Stalins cry for socialism in one country' theory which promoted building a strong and lasting socialist country. ...

• Word Count: 5589
• Approx Pages: 22
• Grade Level: Undergraduate

What makes this theory interesting for us is the fact that this theory defines ''the intellectuals'' as one of the most interesting means employed for the so-called cultural hegemony. ... At this point, the cultural hegemony theory draws attention particularly to the academicians, that is, in other words, to the ''scientists''. ... Since the inception of our educational system by Thomas Jefferson, many changes have taken place. ... Wobblies, in particular, were persecuted against for speaking out against the capitalist system. ...

• Word Count: 3527
• Approx Pages: 14

Up until this time English monarchy favored an economic system that was monopolistic in nature. ... Under this new system, owning a business became the major way to generate wealth, which created some opportunity for serfs that had a skill. ... It is a social system based upon private ownership of the means of production, which entails a completely uncontrolled and unregulated economy where all land is privately owned. ... The way Adam Smith described it on his Theory of Markets: Supply and demand determine the quantity of a good or service produced as well as the price. ...

• Word Count: 2880
• Approx Pages: 12
• Has Bibliography

The Developments Caused by Liberalism in the Rise of Socialism Early theories of the Enlightment philosophy formed an underlying theme through the history of liberalism and the development of socialism. ... The theories of Locke, Montesquieu, and Rousseau, among other thinkers would be identified as a sometimes distorted echo throughout history. John Locke presented the reinvented theory that, symbolic of a social contract, there must be a compromise between the sovereign and his subjects whereby respect for the ruler receives an equal respect for the liberties and rights of property of his ...

• Word Count: 3737
• Approx Pages: 15
• Grade Level: Undergraduate

MARX Marx was a Historical Materialist; he wanted to try to find the laws of nature. He used knowledge to explain everything. He knew that working was the most fundamental thing. It determines your society. He said that economics was the most fundamental thing. The Economic Mode of economic pro...

• Word Count: 2580
• Approx Pages: 10
• Grade Level: High School