Mutualism is an economic theory and anarchist school of thought that advocates a society where each person might possess a means of production, either individually or in purely ? collectives, with trade representing equivalent amounts of labor in the free market, integral to the scheme is the establishment of a mutual-credit bank, is a financial institution chartered by a central or regional government, without capital stock, that is owned by its members who subscribe to a common fund?
658faa871c98581cfa05f420f176a5ff
Mutualism (economic theory) Mutualism is an economic theory and anarchist school of thought that advocates a society where each person might possess a means of production, either individually or in purely voluntary collectives, with trade representing equivalent amounts of labor in the free market. Integral to the scheme is the establishment of a mutual-credit bank that would lend to producers at a minimal interest rate, just high enough to cover administration. Mutualism is based on a labor theory of value that holds that when labor or its product is sold, in exchange, it ought to receive goods or services embodying "the amount of labor necessary to produce an article of exactly similar and equal utility". Mutualism originated from the writings of philosopher Pierre-Joseph Proudhon.
2bfa2918ebb15882a0ff0d7ce09686f7
Mutual savings bank A mutual savings bank is a financial institution chartered by a central or regional government, without capital stock, that is owned by its members who subscribe to a common fund. From this fund claims, loans, etc., are paid. Profits after deductions are shared among the members. The institution is intended to provide a safe place for individual members to save and to invest those savings in mortgages, loans, stocks, bonds and other securities and to share in any profits or losses that result. The members own the business.
74a8d81bd87d11a6ca2677b7e2d250c7
Common fund A common fund is a form of collective investment scheme based upon contractual law rather than being enacted through a trust, corporation or insurance policy.
8f6f5674506911a8bf3ea9dbc5c09cae
Financial market A financial market is a market in which people trade financial securities, commodities, and value at low transaction costs and at prices that reflect supply and demand. Securities include stocks and bonds, and commodities include precious metals or agricultural products.
165648938a6cbda64321c68b2f117bdd
Anarchy Anarchy is the condition of a society, entity, group of people, or a single person that rejects hierarchy. The word originally meant leaderlessness, but in 1840 Pierre-Joseph Proudhon adopted the term in his treatise "What Is Property?" to refer to a new political philosophy: anarchism, which advocates stateless societies based on voluntary associations. In practical terms, anarchy can refer to the curtailment or abolition of traditional forms of government. It can also designate a nation (or anywhere on earth that is inhabited) that has no system of government or central rule.
b8efd23178ae185a51d698f0b04d4451
Common good In philosophy, economics, and political science, the common good (also commonwealth, common weal or general welfare) is a term of art, referring to either what is shared and beneficial for all or most members of a given community, or alternatively, what is achieved by citizenship, collective action, and active participation in the realm of politics and public service. The concept of the common good differs significantly among philosophical doctrines. Early conceptions of the common good were set out by Ancient Greek philosophers, including Aristotle and Plato. One understanding of the common good rooted in Aristotle's philosophy remains in common usage today, referring to what one contemporary scholar calls the "good proper to, and attainable only by, the community, yet individually shared by its members." The concept of common good developed through the work of political theorists, moral philosophers, and public economists, including Thomas Aquinas, Niccolò Machiavelli, John Locke, Jean-Jacques Rousseau, James Madison, Adam Smith, Karl Marx, John Stuart Mill, John Rawls, and many other thinkers. In contemporary economic theory, "a" common good is any good which is rivalrous yet non-excludable, while "the" common good, by contrast, arises in the subfield of welfare economics and refers to the outcome of a social welfare function. Such a social welfare function, in turn, would be rooted in a moral theory of the good (such as utilitarianism). Social choice theory aims to understand processes by which the common good may or may not be realized in societies through the study of collective decision rules. And public choice theory applies microeconomic methodology to the study of political science in order to explain how private interests affect political activities and outcomes.
53288d1adf7847e556a018d77d2cf9af
Timeline of libertarian thinkers This article is a list of major figures in the theory of libertarianism, a philosophy asserting that individuals have a right to acquire, keep, and exchange their holdings and that the primary purpose of government is to protect these rights.
2ba56ea9861b35cbb775d1b4be7a4420
Ethical socialism Ethical socialism is a political philosophy that appeals to socialism on ethical and moral grounds as opposed to economic, egoistic, and consumeristic grounds. It emphasizes the need for a morally conscious economy based upon the principles of service, cooperation, and social justice while opposing possessive individualism. Therefore, in contrast to socialism inspired by rationalism, historical materialism, neoclassical economics and Marxist theory which base their appeals for socialism on grounds of economic efficiency, rationality, or historical inevitability; ethical socialism focuses on the moral and ethical reasons for advocating socialism.
b97229ae636ff7091609159180f6dc3d
Matching theory (economics) In economics, matching theory, also known as search and matching theory, is a mathematical framework attempting to describe the formation of mutually beneficial relationships over time.
0d205fcb0682b9272658e8668e77632e
History of capitalist theory A theory of capitalism describes the essential features of capitalism and how it functions. The history of various such theories is the subject of this article.
9ddf29f33a745a7f04ead44dca53c80f
Money supply In economics, the money supply (or money stock) is the total amount of monetary assets available in an economy at a specific time. There are several ways to define "money", but standard measures usually include currency in circulation and demand deposits (depositors' easily accessed assets on the books of financial institutions).
231a3aaf80c90914534f07db10771dd7
Market fundamentalism Market fundamentalism (also known as free market fundamentalism) is a pejorative term applied to a strong belief in the ability of "laissez-faire" or free market policies to solve most economic and social problems.
0e5738c244b705d35afe3a0b33f5ec06
Mutual insurance A mutual insurance company is an insurance company owned entirely by its policyholders. Any profits earned by a mutual insurance company are either retained within the company or rebated to policyholders in the form of dividend distributions or reduced future premiums. In contrast, a stock insurance company is owned by investors who have purchased company stock; any profits generated by a stock insurance company are distributed to the investors without necessarily benefiting the policyholders.
51eac84893a837db711ba7df6541c03d
Commanding heights of the economy Commanding heights of the economy refers to existing private industry critical to the economy like large banks, insurance firms and mines. This phrase emerged from a branch of modern political philosophy concerned with organizing society, and can be traced back to Karl Marx's idea on socialism, which stresses the commanding heights and advocates for government control of it. This should not be confused with social democracy or complete socialism.
8e81204e61193778bb9c1cd49af4504a
Women in cooperatives A cooperative ("co-op") is an autonomous association of persons who voluntarily cooperate for their mutual, social, economic, and cultural benefit through a mutually owned and democratically run enterprise. Cooperatives include non-profit community organizations and businesses that are owned and managed by the people who use their services (consumer cooperatives) or by the people who work there (worker cooperatives) and take on a variety of forms, ranging from officially registered cooperatives to loosely organized groups of neighbors, family, and kin networks. Cooperatives are based on values like self-help, democracy, equality, equity, and solidarity. These values, among other aspects of cooperatives, are particularly useful in empowering women through membership. In statements in advance of International Women's Day in early 2013, President of the International Cooperative Alliance, Dame Pauline Green, said, "Cooperative businesses have done so much to help women onto the ladder of economic activity. With that comes community respect, political legitimacy and influence." Cooperatives allow women who might have been isolated and working individually to band together and create economies of scale as well as increase their own bargaining power in the market.
b5eb76462480bd43570032846ff9b146
Thrift institution A thrift institution is a financial institution that obtains the majority of its funds from the savings of the public. The term can include several cooperative banking models;
22f78885aa810cbb55c8ae70b0dca876
Regionalism (international relations) In international relations, regionalism is the expression of a common sense of identity and purpose combined with the creation and implementation of institutions that express a particular identity and shape collective action within a geographical region. Regionalism is one of the three constituents of the international commercial system (along with multilateralism and unilateralism).
afa726f9c73e112f5834c5897baecc72
Localism (politics) Localism describes a range of political philosophies which prioritize the local. Generally, localism supports local production and consumption of goods, local control of government, and promotion of local history, local culture and local identity. Localism can be contrasted with regionalism and centralized government, with its opposite being found in the unitary state.
ca172909fbb725a838f7ac34127c451b
Self-ownership Self-ownership (or sovereignty of the individual, individual sovereignty or individual autonomy) is the concept of property in one's own person, expressed as the moral or natural right of a person to have bodily integrity, and be the exclusive controller of his own body and life. Self-ownership is a central idea in several political philosophies that emphasize individualism, such as liberalism and anarchism.
27ba36825707ebc86498ade71249f4dd
Theory of the firm The theory of the firm consists of a number of economic theories that explain and predict the nature of the firm, company, or corporation, including its existence, behavior, structure, and relationship to the market.
eea7f52478d444f29a389ec496239947
Internationalism (politics) Internationalism is a political principle which transcends nationalism and advocates a greater political or economic cooperation among nations and people.
714c4124d77b38a6ae531600ed6d7246
Pluralism in economics The pluralism in economics movement is a campaign to "enrich teaching and research and reinvigorate the discipline [...] [and bring] economics back into the service of society". Dalen writes that economics had greater scientific pluralism in the past compared to the monist approach that is prevalent today. Pluralism encourages the inclusion of a wide variety of neoclassical and heterodox economic theories—including classical, Post-Keynesian, institutional, ecological, evolutionary, feminist, Marxist, and Austrian economics, stating that "each tradition of thought adds something unique and valuable to economic scholarship".