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Planned economy Planned economies contrast with unplanned economies, specifically market economies, where autonomous firms operating in markets make decisions about production, distribution, pricing and investment. Market economies that use indicative planning can be referred to as planned market economies. Planned eco...
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Planned economy Although historians have associated planned economies with Marxist–Leninist states and the Soviet economic model, some argue that the Soviet economic model did not actually constitute a planned economy in that a comprehensive and binding plan did not guide production and investment, therefore the furthe...
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Planned economy Note too the utilization of dirigisme, or government direction of the economy through non-coercive means, as practiced in France and in Great Britain after World War II. The Swedish government planned public-housing models in a similar fashion as urban planning in a project called Million Programme, imp...
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Planned economy The state can begin building a heavy industry at once in an underdeveloped economy without waiting years for capital to accumulate through the expansion of light industry and without reliance on external financing. This is what happened in the Soviet Union during the 1930s when the government forced the...
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Planned economy Whereas the former stressed the theoretical underpinnings of a market economy to subjective value theory while attacking the labor theory of value, the latter argued that the only way to satisfy individuals who have a constantly changing hierarchy of needs and are the only ones to possess their particul...
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Planned economy Furthermore, Hahnel states: Combined with a more democratic political system, and redone to closer approximate a best case version, centrally planned economies no doubt would have performed better. But they could never have delivered economic self-management, they would always have been slow to innovate...
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Planned economy While socialism is not equivalent to economic planning or to the concept of a planned economy, an influential conception of socialism involves the replacement of capital markets with some form of economic planning in order to achieve ex-ante coordination of the economy. The goal of such an economic syst...
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Planned economy The prototype-stage of the project showed promise when it was used to redirect supplies around a trucker's strike, but after CIA-backed Augusto Pinochet led a coup in 1973 that established a military dictatorship under his rule the program was abolished and Pinochet moved Chile towards a more liberalize...
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David Hume (; born David Home; 7 May 1711 NS – 25 August 1776) was a Scottish Enlightenment philosopher, historian, economist, and essayist, who is best known today for his highly influential system of philosophical empiricism, scepticism, and naturalism. Beginning with "A Treatise of Human Nature" (1739–40), Hume stro...
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David Hume He maintained an early commitment to naturalistic explanations of moral phenomena, and is usually taken to have first clearly expounded the is–ought problem, or the idea that a statement of fact alone can never give rise to a normative conclusion of what "ought" to be done. Hume also denied that humans have ...
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David Hume Hume never married and lived partly at his family home at Chirnside in Berwickshire, which had belonged to the family since the sixteenth century. His finances as a young man were very "slender". His family was not rich, and, as a younger son, he had little patrimony to live on so needed to make a living. Hu...
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David Hume Due to this inspiration, Hume set out to spend a minimum of 10 years reading and writing. He soon came to the verge of a mental breakdown, suffering from what a doctor diagnosed as the "Disease of the Learned". Hume wrote that it started with a coldness, which he attributed to a "Laziness of Temper", that la...
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David Hume However, he found literary success in his lifetime as an essayist, and a career as a librarian at the University of Edinburgh. His tenure there, and the access to research materials it provided, ultimately resulted in Hume's writing the massive six-volume "The History of England", which became a bestseller a...
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David Hume He worked for four years on his first major work, "A Treatise of Human Nature", subtitled "Being an Attempt to Introduce the Experimental Method of Reasoning into Moral Subjects", completing it in 1738 at the age of 28. Although many scholars today consider the "Treatise" to be Hume's most important work and...
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David Hume After the publication of "Essays Moral and Political" in 1741, which was included in the later edition called "Essays, Moral, Political, and Literary", Hume applied for the Chair of Pneumatics and Moral Philosophy at the University of Edinburgh. However, the position was given to William Cleghorn after Edinb...
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David Hume It was necessary in the 1750s for his friends to avert a trial against him on the charge of heresy. However, he "would not have come and could not be forced to attend if he said he was not a member of the Established Church". Hume failed to gain the chair of philosophy at the University of Glasgow because of...
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David Hume Letters between them illuminate both men's interest in the success of the "History". In 1762 Hume moved from Jack's Land on the Canongate to James Court on the Lawnmarket. He sold the house to James Boswell in 1766. From 1763 to 1765, Hume was invited to attend Lord Hertford in Paris, where he became secreta...
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David Hume In 1769 he returned to James' Court in Edinburgh, and then lived, from 1771 until his death in 1776, at the southwest corner of St. Andrew's Square in Edinburgh's New Town, at what is now 21 Saint David Street. A popular story, consistent with some historical evidence, suggests the street may have been named...
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David Hume " Hume thus suggests that "I had been guilty of a very usual indiscretion, in going to the press too early." Hume provides an unambiguous self-assessment of the relative value of his works: "my Enquiry concerning the Principles of Morals; which, in my own opinion (who ought not to judge on that subject) is o...
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David Hume Hume asked that his body be interred in a "simple Roman tomb". In his Will he requests that it be inscribed only with his name and the year of his birth and death, "leaving it to Posterity to add the Rest". It stands, as he wished it, on the southwestern slope of Calton Hill, in the Old Calton Cemetery. Adam...
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David Hume Until recently, Hume was seen as a forerunner of logical positivism; a form of anti-metaphysical empiricism. According to the logical positivists, unless a statement could be verified by experience, or else was true or false by definition (i.e. either tautological or contradictory), then it was meaningless (...
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David Hume Hume's Treatise thus begins: "All the perceptions of the human mind resolve themselves into two distinct kinds, which I shall call and ." Hume states that "I believe it will not be very necessary to employ many words in explaining this distinction" and commentators have generally taken Hume to mean the disti...
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David Hume ” When looking at an apple, a person experiences a variety of color-sensations, which Hume sees as a complex impression. Similarly, a person experiences a variety of taste-sensations, tactile-sensations, and smell-sensations when biting into an apple, with the overall sensation again being a complex impressi...
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David Hume The principle of contiguity describes the tendency of ideas to become associated if the objects they represent are near to each other in time or space, such as when the thought of one crayon in a box leads a person to think of the crayon contiguous to it. Finally, the principle of cause and effect refers to ...
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David Hume " Continuing this idea, Hume argues that "only in the pure realm of ideas, logic, and mathematics, not contingent on the direct sense awareness of reality, [can] causation safely...be applied – all other sciences are reduced to probability." He uses this scepticism to reject metaphysics and many theological ...
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David Hume Turning to probable reasoning, Hume argues that we cannot hold that nature will continue to be uniform because it has been in the past. As this is using the very sort of reasoning (induction) that is under question, it would be circular reasoning. Thus, no form of justification will rationally warrant our in...
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David Hume There are at least three interpretations of Hume's theory of causation represented in the literature: (1) the logical positivist; (2) the sceptical realist; and (3) the quasi-realist. Hume acknowledged that there are events constantly unfolding, humanity cannot guarantee that these events are caused by event...
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David Hume In these three branches he explains his ideas, in addition to comparing and contrasting his views to his predecessors. These branches are the Critical Phase, the Constructive Phase, and Belief. In the Critical Phase, Hume denies his predecessors' theories of causation. Next, Hume uses the Constructive Phase ...
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David Hume are ... qualities of perceptions, not of objects ... felt by the soul and not perceiv'd externally in bodies. This view is rejected by sceptical realists, who argue that Hume thought that causation amounts to more than just the regular succession of events. Hume said that when two events are causally conjoin...
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David Hume " In Hume's words, "nothing is more usual than to apply to external bodies every internal sensation, which they occasion". Empiricist philosophers, such as Hume and Berkeley, favoured the bundle theory of personal identity. In this theory, "the mind itself, far from being an independent power, is simply 'a b...
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David Hume They argue that distinct selves can have perceptions that stand in relations of similarity and causality with one another. Thus, perceptions must already come parcelled into distinct "bundles" before they can be associated according to the relations of similarity and causality. In other words, the mind must ...
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David Hume On this interpretation, Hume is proposing a "no-self theory" and thus has much in common with Buddhist thought (see "anattā"). On this point, psychologist Alison Gopnik has argued that Hume was in a position to learn about Buddhist thought during his time in France in the 1730s. "Practical reason" relates to...
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David Hume " Reason is less significant than any passion because reason has no original influence, while "A passion is an original existence, or, if you will, modification of existence". Practical reason is also concerned with the value of actions rather than the truth of propositions, so Hume believed that reason's sh...
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David Hume He wrote in the "Treatise" that in every system of morality he has read, the author begins with stating facts about the world, but then suddenly is always referring to what ought to be the case. Hume demands that a reason should be given for inferring what ought to be the case, from what is the case. This is...
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David Hume Hume was concerned with the way spectators find pleasure in the sorrow and anxiety depicted in a tragedy. He argued that this was because the spectator is aware that he is witnessing a dramatic performance. There is pleasure in realising that the terrible events that are being shown are actually fiction. Fur...
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David Hume He then argues that, according to these definitions, not only are the two compatible, but liberty "requires" necessity. For if our actions were not necessitated in the above sense, they would "have so little in connexion with motives, inclinations and circumstances, that one does not follow with a certain de...
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David Hume Education writer Richard Wright considers that Hume's position rejects a famous moral puzzle attributed to French philosopher Jean Buridan. The Buridan's ass puzzle describes a donkey that is hungry. This donkey has on both sides of him separate bales of hay, which are of equal distances from him. The proble...
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David Hume Strawson argued that the issue of whether we hold one another morally responsible does not ultimately depend on the truth or falsity of a metaphysical thesis such as determinism. This is because our so holding one another is a non-rational human sentiment that is not predicated on such theses. The "Stanford ...
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David Hume In his treatise on miracles, he attempts to separate historical method from the narrative accounts of miracles. The fact that contemporaries thought that he may have been an atheist is exemplified by a story Hume liked to tell: The best theologian he ever met, he used to say, was the old Edinburgh fishwife w...
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David Hume " Philosopher Paul Russell writes that Hume was plainly sceptical about religious belief, although perhaps not to the extent of complete atheism. He suggests that Hume's position is best characterised by the term "irreligion", while philosopher David O'Connor argues that Hume's final position was "weakly dei...
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David Hume " In "An Enquiry Concerning Human Understanding", Hume wrote that the design argument seems to depend upon our experience, and its proponents "always suppose the universe, an effect quite singular and unparalleled, to be the proof of a Deity, a cause no less singular and unparalleled". Philosopher Louise E. ...
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David Hume " Finally, Hume discussed a version of the anthropic principle, which is the idea that theories of the universe are constrained by the need to allow for man's existence in it as an observer. Hume has his sceptical mouthpiece Philo suggest that there may have been many worlds, produced by an incompetent desig...
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David Hume ] considers which side is supported by the greater number of experiments [...] A hundred instances or experiments on one side, and fifty on another, afford a doubtful expectation of any event; though a hundred uniform experiments, with only one that is contradictory, reasonably beget a pretty strong degree o...
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David Hume Also, Hume notes that miracles seem to occur mostly in "ignorant and barbarous nations" and times, and the reason they do not occur in the civilised societies is such societies are not awed by what they know to be natural events. Finally, the miracles of each religion argue against all other religions and th...
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David Hume Further, the myriad of accounts of miracles contradict one another, as some people who receive miracles will aim to prove the authority of Jesus, whereas others will aim to prove the authority of Muhammad or some other religious prophet or deity. These various differing accounts weaken the overall evidential...
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David Hume They have also noted that it requires an appeal to inductive inference, as none have observed every part of nature nor examined every possible miracle claim, for instance those in the future. This, in Hume's philosophy, was especially problematic. Little appreciated is the voluminous literature either foresh...
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David Hume By Hume's lights, this refusal is not wrong and the Prince "reasoned justly"; it is presumably only when he has had extensive experience of the freezing of water that he has warrant to believe that the event could occur. So for Hume, either the miraculous event will become a recurrent event or else it will n...
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David Hume He argued that the quest for liberty was the highest standard for judging the past, and concluded that after considerable fluctuation, England at the time of his writing had achieved "the most entire system of liberty that was ever known amongst mankind". It "must be regarded as an event of cultural importan...
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David Hume Hume was considered a Tory historian, and emphasised religious differences more than constitutional issues. Laird Okie explains that "Hume preached the virtues of political moderation, but ... it was moderation with an anti-Whig, pro-royalist coloring." For "Hume shared the ... Tory belief that the Stuarts w...
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David Hume Roth says his anti-Whig pro-monarchy position diminished the influence of his work, and that his emphasis on politics and religion led to a neglect of social and economic history. Hume was an early cultural historian of science. His short biographies of leading scientists explored the process of scientific c...
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David Hume Thomas Jefferson banned the "History" from University of Virginia, feeling that it had "spread universal toryism over the land". By comparison, Samuel Johnson thought Hume "a Tory by chance ... for he has no principle. If he is anything, he is a Hobbist", a follower of Thomas Hobbes. A major concern of Hume'...
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David Hume Hume thought that society is best governed by a general and impartial system of laws; he is less concerned about the form of government that administers these laws, so long as it does so fairly. However, he does write that a republic must produce laws, while "monarchy, when absolute, contains even something ...
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David Hume Hume offered his view on the best type of society in an essay titled "Idea of a Perfect Commonwealth", which lays out what he thought was the best form of government. He hoped that, "in some future age, an opportunity might be afforded of reducing the theory to practice, either by a dissolution of some old g...
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David Hume Hume expressed his economic views in his "Political Discourses", which were incorporated in "Essays and Treatises" as Part II of "Essays, Moral and Political". To what extent he was influenced by Adam Smith is difficult to stress, however both of them had similar principles supported from historical events. ...
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David Hume Hume has been credited with being the first to prove that, on an abstract level, there is no quantifiable amount of nominal money a country needs to thrive. He understood that there was a difference between nominal money and real money. Second, Hume has a theory of causation which fits in with the Chicago sc...
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David Hume Hume influenced and was influenced by the Christian philosopher Joseph Butler. Hume was impressed by Butler's way of thinking about religion, and Butler may well have been influenced by Hume's writings. Attention to Hume's philosophical works grew after the German philosopher Immanuel Kant, in his "Prolegome...
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David Hume Hume, I felt, was perfectly right in pointing out that induction cannot be logically justified. Hume's rationalism in religious subjects influenced, via German-Scottish theologian Johann Joachim Spalding, the German neology school and rational theology, and contributed to the transformation of German theolog...
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David Hume Isaiah Berlin once said of Hume that "No man has influenced the history of philosophy to a deeper or more disturbing degree." The "Stanford Encyclopedia of Philosophy" writes that Hume is "[g]enerally regarded as one of the most important philosophers to write in English." His nephew and namesake, of Ninewel...
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David D. Friedman David Director Friedman (born February 12, 1945) is an American economist, physicist, legal scholar, and libertarian theorist. He is known for his textbook writings on microeconomics and the libertarian theory of anarcho-capitalism, which is the subject of his most popular book, "The Machinery of Free...
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David D. Friedman Friedman advocates an incrementalist approach to achieve anarcho-capitalism by gradual privatization of areas that government is involved in, ultimately privatizing the law itself. In the book, he states his opposition to violent anarcho-capitalist revolution. He advocates a consequentialist version o...
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Distributism is an economic theory asserting that the world's productive assets should be widely owned rather than concentrated. Developed in Europe in the late 19th and early 20th centuries, distributism was based upon the principles of Catholic social teaching, especially the teachings of Pope Leo XIII in his encycli...
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Distributism Furthermore, some distributists argue that socialism is the logical conclusion of capitalism as capitalism's concentrated powers eventually capture the state, resulting in a form of socialism. Thomas Storck argues: "Both socialism and capitalism are products of the European Enlightenment and are thus moder...
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Distributism The mid-to-late 19th century witnessed an increase in popularity of political Catholicism across Europe. According to historian Michael A. Riff, a common feature of these movements was opposition not only to secularism, but also to both capitalism and socialism. In 1891 Pope Leo XIII promulgated "Rerum nov...
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Distributism In the United States in the 1930s, distributism was treated in numerous essays by Chesterton, Belloc and others in "The American Review", published and edited by Seward Collins. Pivotal among Belloc's and Chesterton's other works regarding distributism are "The Servile State", and "Outline of Sanity". Alth...
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Distributism This liberalism is different from most modern forms, taking influence from William Cobbett and John Ruskin, who combined elements of radicalism, challenging the establishment position, but from a perspective of renovation, not revolution; seeing themselves as trying to restore the traditional liberties of ...
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Distributism As an Anglican, the reasonings she gave are rooted in the theologies of Creation and Incarnation, and are slightly different from the Catholic Chesterton and Belloc. Under such a system, most people would be able to earn a living without having to rely on the use of the property of others to do so. Example...
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Distributism Chesterton in his 1910 book "What's Wrong with the World". Chesterton believes that whilst God has limitless capabilities, man has limited abilities in terms of creation. As such, man therefore is entitled to own property and to treat it as he sees fit, stating: "Property is merely the art of the democracy...
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Distributism The present existence of labor unions does not constitute a realization of this facet of distributist economic order, as labour unions are organized along class lines to promote class interests and frequently class struggle, whereas guilds are mixed class syndicates composed of both employers and employees...
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Distributism The assumption behind this legislation is the idea that having economic activity decentralized among many different industry participants is better for the economy than having one or a few large players in an industry. Note that antitrust regulation does take into account cases when only large companies ar...
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Distributism The economic system of a society should therefore be focused primarily on the flourishing of the family unit, but not in isolation: at the appropriate level of family context, as is intended in the principle of subsidiarity. reflects this doctrine most evidently by promoting the family, rather than the ind...
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Distributism In "Quadragesimo anno", Pope Pius XI further stated that "every social activity ought of its very nature to furnish help to the members of the body social, and never destroy and absorb them". To prevent large private organizations from thus dominating the body politic, distributism applies this principle o...
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Distributism This is influenced by an emphasis on small business, promotion of local culture, and favoring of small production over capitalistic mass production. A society of artisans promotes the distributist ideal of the unification of capital, ownership, and production rather than what distributism sees as an aliena...
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Distributism The Brazilian political party, Humanist Party of Solidarity is a distributist party, and distributism has influenced Christian Democratic parties in Continental Europe and the Democratic Labour Party in Australia. Ross Douthat and Reihan Salam view their "Grand New Party", a roadmap for revising the Republ...
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Distributism Distributist ideas were put into practice by The Guild of St Joseph and St Dominic, a group of artists and craftsmen who established a community in Ditchling, Sussex, England, in 1920, with the motto "Men rich in virtue studying beautifulness living in peace in their houses". The guild sought to recreate a...
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Dynamical system In mathematics, a dynamical system is a system in which a function describes the time dependence of a point in a geometrical space. Examples include the mathematical models that describe the swinging of a clock pendulum, the flow of water in a pipe, and the number of fish each springtime in a lake. At ...
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Dynamical system Dynamical systems are a fundamental part of chaos theory, logistic map dynamics, bifurcation theory, the self-assembly and self-organization processes, and the edge of chaos concept. The concept of a dynamical system has its origins in Newtonian mechanics. There, as in other natural sciences and engine...
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Dynamical system Poincaré published two now classical monographs, "New Methods of Celestial Mechanics" (1892–1899) and "Lectures on Celestial Mechanics" (1905–1910). In them, he successfully applied the results of their research to the problem of the motion of three bodies and studied in detail the behavior of solution...
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Dynamical system He also outlined a research program carried out by many others. Oleksandr Mykolaiovych Sharkovsky developed Sharkovsky's theorem on the periods of discrete dynamical systems in 1964. One of the implications of the theorem is that if a discrete dynamical system on the real line has a periodic point of p...
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Dynamical system The evolution function Φ is often the solution of a "differential equation of motion" The equation gives the time derivative, represented by the dot, of a trajectory "x"("t") on the phase space starting at some point "x". The vector field "v"("x") is a smooth function that at every point of the phase s...
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Dynamical system In a linear system the phase space is the "N"-dimensional Euclidean space, so any point in phase space can be represented by a vector with "N" numbers. The analysis of linear systems is possible because they satisfy a superposition principle: if "u"("t") and "w"("t") satisfy the differential equation f...
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Dynamical system Linear systems display sensitive dependence on initial conditions in the case of divergence. For nonlinear systems this is one of the (necessary but not sufficient) conditions for chaotic behavior. A discrete-time, affine dynamical system has the form of a matrix difference equation: with "A" a matrix ...
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Dynamical system The qualitative properties of dynamical systems do not change under a smooth change of coordinates (this is sometimes taken as a definition of qualitative): a "singular point" of the vector field (a point where "v"("x") = 0) will remain a singular point under smooth transformations; a "periodic orbit" ...
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Dynamical system There may be singular points in the vector field (where "v"("x") = 0); or the patches may become smaller and smaller as some point is approached. The more subtle reason is a global constraint, where the trajectory starts out in a patch, and after visiting a series of other patches comes back to the ori...
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Dynamical system Finding conditions for this equation to hold has been one of the major tasks of research in dynamical systems. Poincaré first approached it assuming all functions to be analytic and in the process discovered the non-resonant condition. If "λ", ..., "λ" are the eigenvalues of "J" they will be resonant i...
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Dynamical system Small changes in the vector field will only produce small changes in the Poincaré map and these small changes will reflect in small changes in the position of the eigenvalues of "J" in the complex plane, implying that the map is still hyperbolic. The Kolmogorov–Arnold–Moser (KAM) theorem gives the beha...
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Dynamical system For a flow, it will occur when there are eigenvalues on the imaginary axis. For more information, see the main article on Bifurcation theory. Some bifurcations can lead to very complicated structures in phase space. For example, the Ruelle–Takens scenario describes how a periodic orbit bifurcates into ...
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Dynamical system The volume of the energy shell, computed using the Liouville measure, is preserved under evolution. For systems where the volume is preserved by the flow, Poincaré discovered the recurrence theorem: Assume the phase space has a finite Liouville volume and let "F" be a phase space volume-preserving map ...
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Dynamical system This introduces an operator "U", the transfer operator, By studying the spectral properties of the linear operator "U" it becomes possible to classify the ergodic properties of Φ. In using the Koopman approach of considering the action of the flow on an observable function, the finite-dimensional nonli...
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Dynamical system In hyperbolic systems the tangent space perpendicular to a trajectory can be well separated into two parts: one with the points that converge towards the orbit (the "stable manifold") and another of the points that diverge from the orbit (the "unstable manifold"). This branch of mathematics deals with ...
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Dynamical system In other terms, "f"("t") is a diffeomorphism, for every time "t" in the domain formula_14 . A dynamical system may be defined formally, as a measure-preserving transformation of a sigma-algebra, the quadruplet ("X", Σ, μ, τ). Here, "X" is a set, and Σ is a sigma-algebra on "X", so that the pair ("X", Σ...
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Dynamical system Works providing a broad coverage: Introductory texts with a unique perspective: Textbooks Popularizations:
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Economics () is the social science that studies the production, distribution, and consumption of goods and services. focuses on the behaviour and interactions of economic agents and how economies work. Microeconomics analyzes basic elements in the economy, including individual agents and markets, their interactions, an...
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Economics The discipline was renamed in the late 19th century, primarily due to Alfred Marshall, from "political economy" to "economics" as a shorter term for "economic science". At that time, it became more open to rigorous thinking and made increased use of mathematics, which helped support efforts to have it accepte...
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Economics John Stuart Mill (1844) defines the subject in a social context as: Alfred Marshall provides a still widely cited definition in his textbook "Principles of Economics" (1890) that extends analysis beyond wealth and from the societal to the microeconomic level: Lionel Robbins (1932) developed implications of wh...
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Economics We cannot define economics as the science that studies wealth, war, crime, education, and any other field economic analysis can be applied to; but, as the science that studies a particular common aspect of each of those subjects (they all use scarce resources to attain a sought after end). Some subsequent com...
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Economics Among economists more generally, it argues that a particular definition presented may reflect the direction toward which the author believes economics is evolving, or should evolve. Economic writings date from earlier Mesopotamian, Greek, Roman, Indian subcontinent, Chinese, Persian, and Arab civilizations. E...
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Economics The doctrine called for importing cheap raw materials to be used in manufacturing goods, which could be exported, and for state regulation to impose protective tariffs on foreign manufactured goods and prohibit manufacturing in the colonies. Physiocrats, a group of 18th-century French thinkers and writers, de...
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Economics " The book identified land, labour, and capital as the three factors of production and the major contributors to a nation's wealth, as distinct from the physiocratic idea that only agriculture was productive. Smith discusses potential benefits of specialization by division of labour, including increased labou...
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Economics Human population, he argued, tended to increase geometrically, outstripping the production of food, which increased arithmetically. The force of a rapidly growing population against a limited amount of land meant diminishing returns to labour. The result, he claimed, was chronically low wages, which prevented...
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Economics Mill pointed to a distinct difference between the market's two roles: allocation of resources and distribution of income. The market might be efficient in allocating resources but not in distributing income, he wrote, making it necessary for society to intervene. Value theory was important in classical theory...
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