Economic determinism is a socioeconomic theory that economic relationships (such as being an owner or capitalist, or being a worker or proletarian) are the foundation upon which all other social and political arrangements in society are based. The theory stresses that societies are divided into competing economic classes whose relative political power is determined by theRead More →

In macroeconomics, the twin deficits hypothesis or the twin deficits phenomenon, is the proposition that there is a strong causal link between a nation’s government budget balance and its current account balance. Definition Standard macroeconomic theory points to how a budget deficit can be a contributing factor to a current account deficit. This link can beRead More →

The labor theory of property (also called the labor theory of appropriation, labor theory of ownership, labor theory of entitlement, or principle of first appropriation) is a theory of natural law that holds that property originally comes about by the exertion of labor upon natural resources. The theory has beenRead More →

Deism (derived from Latin “deus” meaning “god”) is a philosophical belief that posits that God exists and is ultimately responsible for the creation of the universe, but does not interfere directly with the created world. Equivalently, Deism can also be defined as the view which posits God’s existence as theRead More →

World-systems theory (also known as world-systems analysis or the world-systems perspective), is a multidisciplinary, macro-scale approach to world history and social change which emphasizes the world-system (and not nation states) as the primary (but not exclusive) unit of social analysis. “World-system” refers to the inter-regional and transnational division of labor,Read More →

Neoliberalism or neo-liberalism refers primarily to the 20th-century resurgence of 19th-century ideas associated with laissez-faire economic liberalism. Those ideas include economic liberalization policies such as privatization, austerity, deregulation, free trade and reductions in government spending in order to increase the role of the private sector in the economy and society.Read More →

Monism attributes oneness or singleness (Greek: μόνος) to a concept e.g., existence. Various kinds of monism can be distinguished: Priority monism states that all existing things go back to a source that is distinct from them e.g., in Neoplatonism everything is derived from The One. In this view only oneRead More →

Supply-side economics is a macroeconomic theory arguing that economic growth can be most effectively created by lowering taxes and decreasing regulation. According to supply-side economics, consumers will then benefit from a greater supply of goods and services at lower prices and employment will increase. It was started by economist RobertRead More →

Eugenics (from Greek εὐγενής eugenes ‘well-born’ from εὖ eu, ‘good, well’ and γένος genos, ‘race, stock, kin’) is a set of beliefs and practices that aims at improving the genetic quality of a human population. The exact definition of eugenics has been a matter of debate since the term wasRead More →

The New World Order or NWO is claimed to be an emerging clandestine totalitarian world government by various conspiracy theories. The common theme in conspiracy theories about a New World Order is that a secretive power elite with a globalist agenda is conspiring to eventually rule the world through anRead More →

Postcolonialism or postcolonial studies is the academic study of the cultural legacy of colonialism and imperialism, focusing on the human consequences of the control and exploitation of colonized people and their lands. The name postcolonialism is modelled on postmodernism, with which it shares certain concepts and methods, and may beRead More →

Resource nationalism is the tendency of people and governments to assert control over natural resources located on their territory. The approach of peak oil has led many governments to take ownership or control of fossil fuel reservoirs for strategic and economic reasons, although resource nationalism applies to other resources, suchRead More →

Dependency theory is the notion that resources flow from a “periphery” of poor and underdeveloped states to a “core” of wealthy states, enriching the latter at the expense of the former. It is a central contention of dependency theory that poor states are impoverished and rich ones enriched by theRead More →

The term Social Darwinism is used to refer to various ways of thinking and theories that emerged in the second half of the 19th century and tried to apply the evolutionary concept of natural selection to human society. The term itself emerged in the 1880s, and it gained widespread currencyRead More →

The domino theory was a theory prominent from the 1950s to the 1980s that posited that if one country in a region came under the influence of communism, then the surrounding countries would follow in a domino effect. The domino theory was used by successive United States administrations during theRead More →