Rentier capitalism

After the Bolsheviks overthrew the Romanoff dynasty in 1917, they instituted communism as the national ideology. Communism is a political theory that advances a classless society where, where property is owned by the government with each person being employed by and paid by the government according to their abilities and need, as deemed necessary by the government (Source). A heightened awareness and concern of communism began to evolve that was legitimate in theory but paranoid in practice.…

INTRODUCTION: Modern economics has overthrown the concepts of old medieval practices.In ancient days ‘work’ is considered as punishment whereas in 16th century as a means to glorify God. The period (1600-1850) can be viewed as a class struggle between landlords and new bourgeois for control of state. Classical economics was one of the elements in this battle. Classical economics refer to a period stretching from introduction of Adam smith’s book ‘The wealth of Nations’ to introduction of Stuart…

. Having a mixed economy is the ideal economic system for a country. Privatization would facilitate the idea of having a mixed economy, but nevertheless, the government should have some rules and regulations, more like Laissez-faire. Laissez-faire is the idea that the government should leave decisions the market and according to Adam Smith, the government's interference should be limited to public health, national defense, etc (Samuelson &Nordhaus, 2010). By having that, there will be efficiency…

A world where everyone receives equality: whether you are black or white, whether you are male or female, whether you are the CEO of a company or a part- time worker in KFC, you all will be treated in the same manner. Would such a world not be the dream that everyone is achieving for? A man born into a wealthy family named Karl Marx specifically proposed the idea of communism, which exactly illustrates this concept of egalitarianism and common ownership of property. He soon became known as the…

contributions was the highlighting of how alienation is ingrained in the material world of capitalism as well human labour, meaning that it is not a personal problem or state of mind but an apparent objective feature of the way in which…

Being Consumed helps Christians to understanding and criticising the globalised consumer economic situation of the present. It show cases how humanities economic structures of our present day are inadequate and faulty, and we as Christians need to question these systems and re-line ourselves to The Scripture and its principle. The author, William Cavanaugh, makes use of strong references to Christian resources, such as St. Augustine of Hippo and Hans Urs von Balthasar, to complete his augments…

INTRODUCTION The natural resource curse, a phrase introduced by Auty (1993, 2001), is used to describe the negative relation of a country’s natural resources and its economic success. Natural resources are logically assumed to have a positive effect on a country’s economy. However, there is very little truth in this assumption as is argued in this essay. Many countries of the world are endowed with natural resources such as oil, natural gas, coal and other mineral deposits. These include…

cultural practices and behaviour. A vibrant legacy was handed down to us however, the global forces have pushed away the indigenous culture and marginalised it and projected it as outdated. It has been replaced by the common sense of the advanced capitalism promoting behaviours and practices of the West. The cultural entrepreneurs have turned the environment of popular culture, into commodities for the global media to satisfy the cultural curiosity and sense of superiority of their audience.…

In any type of economy, it is necessary to have some means for deciding what goods to produce in what quantity, how to distribute those goods, and who gets to consume the goods. The three most important things in any economy are production, distribution, and price. The two most common types of economies in the world are free Economy and Command Economy. Free market is a market economy based on supply and demand with little or no government control. Individuals make economic decisions in a free…

The essence of the communist ideology and the methods of its implementation. Communism originates from the socialist theory of Marx and Engels; they first proposed an ideology that radically changes the existing political regime, as well as the social and economic structure of the state. However, some political scientists and philosophers are convinced that the famous "Republic" of Plato and "Utopia" by Thomas More are the very first models of communist society. Communist…