Economic systemsAn economic system, or economic order, is a system of production, resource allocation and distribution of goods and services within a society. It includes the combination of the various institutions, agencies, entities, decision-making processes, and patterns of consumption that comprise the economic structure of a given community. An economic system is a type of social system. The mode of production is a related concept.
DemocracyDemocracy (from dēmokratía, dēmos 'people' and kratos 'rule') is a system of government and form of liberalism in which state power is vested in the people, or the general population of a state based on principles of liberty and free will. According to the United Nations, democracy "provides an environment that respects human rights and fundamental freedoms, and in which the freely expressed will of people is exercised." In a direct democracy, the people have the direct authority to deliberate and decide legislation.
MarketsIn economics, a market is a composition of systems, institutions, procedures, social relations or infrastructures whereby parties engage in exchange. While parties may exchange goods and services by barter, most markets rely on sellers offering their goods or services (including labour power) to buyers in exchange for money. It can be said that a market is the process by which the prices of goods and services are established. Markets facilitate trade and enable the distribution and allocation of resources in a society.
Topics in sociological theoriesA sociological theory is a supposition that intends to consider, analyze, and/or explain objects of social reality from a sociological perspective, drawing connections between individual concepts in order to organize and substantiate sociological knowledge. Hence, such knowledge is composed of complex theoretical frameworks and methodology. These theories range in scope, from concise, yet thorough, descriptions of a single social process to broad, inconclusive paradigms for analysis and interpretation.
Early modern periodThe early modern period of modern history spans the period after the Late Middle Ages of the post-classical era (1400–1500) to the beginning of the Age of Revolutions (1800). Although the chronological limits of this period are open to debate, the timeframe is variously demarcated by historians as beginning with the fall of Constantinople in 1453, the Renaissance period in Europe and Timurid Central Asia, the end of the Crusades, the Age of Discovery (especially the voyages of Christopher Columbus beginning in 1492 but also Vasco da Gama's discovery of the sea route to India in 1498), and ending around the French Revolution in 1789, or Napoleon's rise to power.
OntologyIn metaphysics, ontology is the philosophical study of being, as well as related concepts such as existence, becoming, and reality. Ontology addresses questions like how entities are grouped into and which of these entities exist on the most fundamental level. Ontologists often try to determine what the categories or highest kinds are and how they form a system of categories that encompasses the classification of all entities. Commonly proposed categories include substances, properties, relations, states of affairs, and events.
Labor economicsLabour economics, or labor economics, seeks to understand the functioning and dynamics of the markets for wage labour. Labour is a commodity that is supplied by labourers, usually in exchange for a wage paid by demanding firms. Because these labourers exist as parts of a social, institutional, or political system, labour economics must also account for social, cultural and political variables. Labour markets or job markets function through the interaction of workers and employers.
Critical theoryA critical theory is any approach to social philosophy that focuses on society and culture to attempt to reveal, critique, and challenge power structures. With roots in sociology and literary criticism, it argues that social problems stem more from social structures and cultural assumptions than from individuals. It argues that ideology is the principal obstacle to human liberation. Critical theory finds applications in various fields of study, including psychoanalysis, sociology, history, communication theory, philosophy and feminist theory.
Late modern periodIn many periodizations of human history, the late modern period followed the early modern period. It began approximately around the year 1800 and depending on the author, either ended with the beginning of contemporary history after World War II in 1945, or includes the contemporary history period up to the present day. Notable historical events in the late 18th century that marked the transition from the early modern period to the late modern period include – the American Revolution (1765–1791), the French Revolution (1789–1799), and the beginning of the Industrial Revolution around 1760.
International developmentInternational development or global development is a broad concept denoting the idea that societies and countries have differing levels of economic or human development on an international scale. It is the basis for international classifications such as developed country, developing country and least developed country, and for a field of practice and research that in various ways engages with international development processes. There are, however, many schools of thought and conventions regarding which are the exact features constituting the "development" of a country.
Topics in political ideologiesAn ideology is a set of beliefs or philosophies attributed to a person or group of persons, especially those held for reasons that are not purely epistemic, in which "practical elements are as prominent as theoretical ones." Formerly applied primarily to economic, political, or religious theories and policies, in a tradition going back to Karl Marx and Friedrich Engels, more recent use treats the term as mainly condemnatory.
Mass productionMass production, also known as flow production or continuous production, is the production of substantial amounts of standardized products in a constant flow, including and especially on assembly lines. Together with job production and batch production, it is one of the three main production methods. The term mass production was popularized by a 1926 article in the Encyclopædia Britannica supplement that was written based on correspondence with Ford Motor Company.
CommunismCommunism (from Latin communis) is a left-wing to far-left sociopolitical, philosophical, and economic ideology within the socialist movement, whose goal is the creation of a communist society, a socioeconomic order centered around common ownership of the means of production, distribution, and exchange that allocates products to everyone in the society based on need. A communist society would entail the absence of private property and social classes, and ultimately money and the state (or nation state).
Political sociologyPolitical sociology is an interdisciplinary field of study concerned with exploring how governance and society interact and influence one another at the micro to macro levels of analysis. Interested in the social causes and consequences of how power is distributed and changes throughout and amongst societies, political sociology's focus ranges across individual families to the state as sites of social and political conflict and power contestation.
Topics in macroeconomicsMacroeconomics is a branch of economics that deals with the performance, structure, behavior, and decision-making of an economy as a whole—for example, using interest rates, taxes, and government spending to regulate an economy's growth and stability. This includes regional, national, and global economies. Macroeconomists study topics such as GDP (Gross Domestic Product), unemployment (including unemployment rates), national income, price indices, output, consumption, inflation, saving, investment, energy, international trade, and international finance.
Contemporary historyContemporary history, in English-language historiography, is a subset of modern history that describes the historical period from approximately 1945 to the present. Contemporary history is either a subset of the late modern period, or it is one of the three major subsets of modern history, alongside the early modern period and the late modern period. In the social sciences, contemporary history is also continuous with, and related to, the rise of postmodernity.
LiberalismLiberalism is a political and moral philosophy based on the rights of the individual, liberty, consent of the governed, political equality, right to private property and equality before the law. Liberals espouse various views depending on their understanding of these principles but generally support private property, market economies, individual rights (including civil rights and human rights), liberal democracy, secularism, rule of law, economic and political freedom, freedom of speech, freedom of the press, freedom of assembly, and freedom of religion, constitutional government and privacy rights.
MonarchyA monarchy is a form of government in which a person, the monarch, is head of state for life or until abdication. The political legitimacy and authority of the monarch may vary from restricted and largely symbolic (constitutional monarchy), to fully autocratic (absolute monarchy), and can span across executive, legislative, and judicial domains. The succession of monarchs in many cases has been hereditical, often building dynastic periods. However, elective and self-proclaimed monarchies have also been established throughout history.
Political ideologiesAn ideology is a set of beliefs or philosophies attributed to a person or group of persons, especially those held for reasons that are not purely epistemic, in which "practical elements are as prominent as theoretical ones." Formerly applied primarily to economic, political, or religious theories and policies, in a tradition going back to Karl Marx and Friedrich Engels, more recent use treats the term as mainly condemnatory.
MicroeconomicsMicroeconomics is a branch of mainstream economics that studies the behavior of individuals and firms in making decisions regarding the allocation of scarce resources and the interactions among these individuals and firms. Microeconomics focuses on the study of individual markets, sectors, or industries as opposed to the national economy as whole, which is studied in macroeconomics. One goal of microeconomics is to analyze the market mechanisms that establish relative prices among goods and services and allocate limited resources among alternative uses.
