 |
Encyclopedia—economicsThe Socialists and MarxThe early exponents of socialism, especially in France, attacked the idea of the necessity of private property and competition and were interested in revamping the economic and social order. Among those were C. H. Saint-Simon, Robert Owen, Charles Fourier, and Louis Blanc. In Germany the historical school arose under Wilhelm Roscher, Bruno Hildebrand, and Karl Knies, who doubted the existence of universal economic laws and emphasized the particular development of economic institutions in individual nations. The greatest challenge to classical economics came from the followers of Karl Marx. Marx's critique of capitalism was moral and social, as well as economic; but in the exposition of the workings of the capitalist system he and his followers developed important insights into the structural weaknesses of the market economy, especially the recurrence of economic crises (see depression). Sections in this article: The Columbia Electronic Encyclopedia, 6th ed. Copyright © 2007, Columbia University Press. All rights reserved.
Infoplease Career Center
Trade Publications FREE to Qualified Professionals.
Global Finance has been providing monthly news and analysis since 1987 about companies and financial institutions that do business around the world. |
Business Solutions article's show readers how to sell new technologies and penetrate growing vertical markets. |
Beyond.com Career Portal Software. © Copyright 2001-2005 Artemis HR, Inc.
|
|
