Study Set 31

Willingness to pay

A consumer's "willingness to pay" for a good is the maximum price at which he or she would buy that good. A consumer placed value on a good, corresponding to the highest price consumers are willing to pay. Shown by the height of the demand curve

Terrorism

A form of warfare in which violence or the threat of violence is directed at multiple segments of societies, especially civilians, in pursuit of specific political objectives. It is also used by criminal groups to stifle opposition to illegal activities. Acts of violence designed to promote a specific ideology or agenda by creating panic among an enemy population Is the use or threatened use of violence to gain a political objective Hassner: "the deliberate use of violence against civilians by non-state actors in order to provoke outrage." Employs violence aimed at civilian non-combatants as a means of creating fear and undermining enemy's will to fight so that the terrorists may gain aims that they could not otherwise achieve

Anarcho-Syndicalism

A radical form of political protest that advocates the use of labor activism to overthrow the capitalist system This movement, influenced by Georges Sorel, focused on creating one large industrial union and using strikes to gain worker power. is a theory of anarchism which views revolutionary industrial unionism or syndicalism as a method for workers in capitalist society to gain control of an economy and, with that control, influence broader society. Syndicalists consider their economic theories a strategy for facilitating worker self-activity and as an alternative co-operative economic system with democratic values and production centered on meeting human needs. The basic principles of anarcho-syndicalism are solidarity, direct action (action undertaken without the intervention of third parties such as politicians, bureaucrats and arbitrators) and direct democracy, or workers' self-management. The end goal of anarcho-syndicalism is to abolish the wage system, regarding it as wage slavery. Anarcho-syndicalist theory therefore generally focuses on the labor movement. Anarcho-syndicalists view the primary purpose of the state as being the defence of private property, and therefore of economic, social and political privilege, denying most of its denizens the ability to enjoy material independence and the social autonomy which springs from it.

Cost

A resource sacrificed or given up to achieve a specific objective. The value of everything a seller must give up to produce a good

Market failure

A situation in which the market fails to produce the efficient level of output. -situations where markets generate suboptimal mixes of outcome - occurs when the market fails to adjust prices for the true costs of a firm's behavior, costs are external to the price of the product and borne by someone else (often society through taxpayers).

Environmentalism

A social movement dedicated to protecting the earth's life support systems for us and other species. the activity of protecting the environemnt from pollution or destruction An ideology that is dominated by concern for the environment but also promotes grassroots democracy, social justice, equal opportunity, nonviolence, respect for diversity, and feminism.

Coordination

A type of cooperative interaction in which actors benefit from all making the same choices and subsequently have no incentive to not comply. A form of cooperation requiring parties to pursue a common strategy in order to avoid the mutually undesirable outcome arising from the pursuit of divergent strategies

Delegation

"Delegation is the passing of control, authority and responsibility to another person to carry out specific activities.". Authority to pass down from superior to subordinate.

"Other payment card" (47-22-401)

(A) Means any stored value card, smart card, gift card, or other similar device that enables a person to obtain property or services in a transaction with a merchant, the payment for which is initiated through a payment card network; and (B) Does not include credit cards or debit cards;

Corporate governance

"the system by which companies are directed and controlled" It involves a set of relationships between a company's management, its board, its shareholders and other stakeholders; it deals with prevention or mitigation of the conflict of interests of stakeholders. Oversight of a company's management by a board of directors. System used by companies to promote corporate fairness, transparency and accountability.

Any payment processor (that contracts directly with a merchant to provide settlement for the merchant's credit card, debit card, or other payment card transactions) shall: (47-22-402)

(1) Provide the merchant with a copy of all payment card network operating rules, regulations, and bylaws applicable to the credit card, debit card, or other payment card transactions settled by the payment processor for the merchant; (2) Provide the merchant with a complete schedule of all merchant transaction fees applicable to the credit card, debit card, or other payment card transactions settled by the payment processor for the merchant; and (3) As of the end of each monthly period or other regular period agreed upon by the payment processor and the merchant, promptly supply the merchant with a statement that includes: (A) An itemized list of all merchant fees accrued since the previous statement; and (B) An indication of the aggregate fee percentage, which shall be calculated by dividing the sum of all merchant fees accrued during the statement period by the total value of the transactions processed by the payment processor for the merchant during the statement period.

William Godwin

(1756-1836) Considered one of the important precursors of both utilitarian and liberal anarchist thought. Married Mary Wollstonecraft, and their daughter, also Mary, wrote Frankenstein. The English political philosopher and novelist who in 1791 married the feminist Mary Wollstonecraft, and is also known for being the first to publish Charles and Mary Lamb's Tales from Shakespeare

Leo Tolstoy

(1828-1910), greatest Russian realist, probed deeply into the lives of his characters, fatalistic theory of history, regarded free will as an illusion A 19th century American Romantic who wrote War and Peace (1828-1910) A Russian realist who combined realism in description making him noticed for his famous work "War and Peace"which conveyed his central message of people accepting human love, trust, and everyday family ties.

"Merchant fee" (47-22-401)

(A) Means any amount: (i) Charged, established, or received by a payment processor, acquiring bank, payment card network, or card issuer; and (ii) Paid by a merchant in relation to a credit card, debit card, or other payment card transaction; and (B) Includes any amount related to the purchase or lease of equipment used in relationship to credit card, debit card, or other payment card transactions if that amount is charged, established, or received by a payment processor, acquiring bank, payment card network, or card issuer

"Debit Card" (47-22-401)

(A) Means any card, or other payment code or device, issued or approved for use through a payment card network to debit an asset account, regardless of the purpose for which the account is established, whether authorization is based on signature, PIN, or other means; (B) Includes a general-use prepaid card, as defined in 15 U.S.C. § 1693l- 1(a)(2)(A); and (C) Does not include paper checks;

47-22-403

(a) The commissioner of commerce and insurance may assess a civil penalty against any payment processor that knowingly engages in conduct in violation of § 47- 22-402. (b) The civil penalty pursuant to subsection (a) shall not exceed two thousand dollars ($2,000) per violation. (c) Any hearing on the imposition of a civil penalty pursuant to this section shall be conducted in accordance with the Uniform Administrative Procedures Act, compiled in title 4, chapter 5.

Coordination by plan

- Independent units is required to meet deadlines that contribute to a common goal. It does not require the same high degree of stability and routinization required for coordination by standardization

Argument for gov reg of business

- a situation in which the invisible hand pushes in such a way that individual decisions do not lead to socially desirable outcome

Integration

...bringing together several elements. -Designed to achieve unity among individuals and groups

The New Deal

1933-1937 Government sponsored programs implemented by President Franklin D. Roosevelt to revitalize the economy and alleviate poverty and despair caused by the Depression. FDR's strategy to end the depression by trying many different employment projects to put out-of-work americans to work in government organized groups

Islamism

A fundamentalist Islamic revivalist movement generally characterized by moral conservatism and the literal interpretation of the Quran and the attempt to implement Islamic values in all aspects of life. Revival of Muslim traditions through the reassertion of Islamic values into Muslim politics and the resentment of European and American societies. The desire for the reassertion of Islamic values in Muslim politics was at the heart of? A political movement within the religion of Islam that challenges the encroachment of global popular culture and blames colonial, imperial, and Western elements for many of the region's problems. Adherents of Islamism advocate merging civil and religious authority.

Hierarchy

A group organized by rank. (n.) any system of things or people arranged or graded one above another in order of rank, wealth, class, etc. A ranking or grading of persons or things. A hierarchy is an arrangement of items (objects, names, values, categories, etc.) in which the items are represented as being "above," "below," or "at the same level as" one another. Abstractly, a hierarchy can be modelled mathematically as a rooted tree: the root of the tree forms the top level, and the children of a given vertex are at the same level, below their common parent. Englad had this form of government, as it was tradition for centuries.

Functional organization

A hierarchical organization where each employee has one clear superior, and staff are grouped by areas of specialization and managed by a person with expertise in that area. Centered on specialties and grouped by function. Advantages are enduring organizational structure, clear career path with separation of functions allowing specialty skills to flourish, clear chain of command. Disadvantages include project manager with little to no formal authority, multiple projects compete for limited resources and priority, project team members are loyal to functional manager. Departmentalization around specialized activities such as production, marketing, and human resources.

Imperialism

A policy in which a strong nation seeks to dominate other countries poitically, socially, and economically. is a type of advocacy of empire. Its name originated from the Latin word "imperium", meaning to rule over large territories. Imperialism is "a policy of extending a country's power and influence through colonization, use of military force, or other means". Imperialism has greatly shaped the contemporary world Imperialism is defined as "an unequal human and territorial relationship, usually in the form of an empire, based on ideas of superiority and practices of dominance, and involving the extension of authority and control of one state or people over another." Imperialism is a process and ideology that does not only focus on political dominance, but rather, conquest over expansion. Imperialism is particularly focused on the control that one group, often a state power, has on another group of people. There are "formal" or "informal" imperialism. "Formal imperialism" is, "the physical control or full-fledged colonial rule". "Informal control" is less direct, however; it is still a powerful form of dominance. There are three waves of imperialism; Americas (North, South and the Caribbean), Asia and Africa.

BLACK SWAN

An event or occurrence that deviates beyond what is normally expected of a situation and that would be extremely difficult to predict

Sexism

An individual's prejudicial attitudes and discriminatory behavior toward people of a given sex Attitudes or behavior based on traditional stereotypes of sexual roles. An ideology based on the belief that one sex is superior to and should dominate the other sex A system of advantage based on gender Belief that one sex is superior to another. A belief that inherent differences between sexes determine people's achievement and that one's own sex is superior discriminatory or abusive behavior towards members of the opposite sex An individual's prejudicial attitudes and discriminatory behavior toward people of a given sex, or (2) institutional practices (even if not motivated by prejudice) that subordinate people of a given sex.

Network organization

An organization that uses its own employees to do some work activities and networks of outside suppliers to provide other needed product components or work processes. A collection of independent, mostly single-function firms that collaborate on a good or service. In this structure, many departments are contracted out in a cooperative network of suppliers and distributors.

Emma Goldman

An outspoken radical who was deported after being arrested on charges of being an anarchist, socialist, or labour agitator. Lithuanian anarchist lecturer, immigrated to America, wanted a stateless society based on voluntary cooperation. Editor of anarchist journal "Mother Earth". Exiled to Soviet Union. "Red Emma" Goldman, "typical American immigrant" because she held on to the culture of her old country, Russia, but also insisted she was an American patriot. Organized the No-Conscription League to provide aid and comfort for men who were drafted. Arrested for conspiring to persuade men to not register for the draft. Founded Mother Earth.

Accountability

Being responsible and accepting consequences for what you do and say.

Nihilism

Belief in nothing A total rejection of established laws belief that existence and all traditional values are meaningless The total rejection of religious or moral beliefs belief that existence and all traditional values are meaningless (n.) a total rejection of established laws complete denial of all established authority and institutions

Orthodox Marxists

Believed that socialist revolution was necessary for change. These people were powerful capitalists who used fascist ideology to create a mass movement capable of destroying the revolutionary working class and thus protect their enormous profits. a group of socialists led by engels and karl kautsky who followed the teaching of marx without significant deviation. the movement failed because of its rigid dogmatism is the version of Marxism that emerged after the death of Karl Marx and acted as the official philosophy of the socialist movement represented in the Second International up to the First World War. Orthodox Marxism aims to simplify, codify and systematize Marxist methodology and theory, ironing out the perceived ambiguities and contradictions of Classical Marxism. The "orthodoxy" in orthodox Marxism refers specifically to the methodology of historical materialism and dialectical materialism employed and not to any of the normative aspects inherent to classical Marxism; nor does it imply adherence to the results of Marx's own investigations

Mary Wollstonecraft

British feminist of the eighteenth century who argued for women's equality with men, even in voting, in her 1792 "Vindication of the Rights of Women." English writer and early feminist who denied male supremacy and advocated equal education for women (1750-1797) Enlightenment feminist thinker in England; argued that political rights should extend to women. was an English writer, philosopher, and advocate of women's rights. During her brief career, she wrote novels, treatises, a travel narrative, a history of the French Revolution, a conduct book, and a children's book. Wollstonecraft is best known for A Vindication of the Rights of Woman (1792), in which she argues that women are not naturally inferior to men, but appear to be only because they lack education. She suggests that both men and women should be treated as rational beings and imagines a social order founded on reason. Mary Wollstonecraft was an English writer who advocated for women's equality. In one of her most famous works, A Vindication of the Rights of Woman (1792), she clearly abhors prevailing notions that women are helpless adornments of a household. Instead, she states that society breeds "gentle domestic brutes" and that a confined existence makes women frustrated and transforms them into tyrants over their children and servants. The key, she purports, is educational reform, giving women access to the same educational opportunities as men.

Differentiation

Bruce wanted to open a coffee shop. He knew his coffee was way better than anything Starbucks could do because he ran taste tests with people in the neighborhood. He found that people in his area preferred their coffee with just a hint of cinnamon in it. When he opened his first store across the street from a Starbucks store, he ran advertisements in the local paper claiming "Bruce's Brew is the spice of life," and offered a coupon good for a free cinnamon grinder with purchase of Bruce's Best. Bruce is using a _______________ positioning strategy.. Actually differentiating the market offering to create superior customer value.. Miller-Tiedeman and Tiedeman indicate that differentiation takes place when considering a choice and then separating experiences. The four steps of exploration, crystallization, choice, and clarification complete this process. John Holland described differentiation as to how well defined a person was with his/her likes and dislikes.

Principles of Maoism (2)

Components of Maoism include: Mass Line The theory of the Mass Line holds that party must not be separate from the popular masses, either in policy or in revolutionary struggle. To conduct a successful revolution the needs and demands of the masses must be the most important issues. Cultural Revolution The theory of the Cultural revolution states that the proletarian revolution and the dictatorship of the proletariat does not wipe out bourgeois ideology; the class-struggle continues, and even intensifies, during socialism. Therefore a constant struggle against these ideologies and their social roots must be conducted. Cultural Revolution is directed also against traditionalism. People's War Mao Zedong Thought emphasized the "revolutionary struggle of the vast majority of people against the exploiting classes and their state structures", which Mao termed a "People's War". Mobilizing large parts of rural populations to revolt against established institutions by engaging in guerrilla warfare, Mao Zedong Thought focuses on "surrounding the cities from the countryside".

Total surplus

Consumer Surplus + Producer Surplus. The area above the supply curve and below the demand curve to the left of equilibrium

Organization chart

Diagram showing how employees and tasks are grouped and where the lines of communication and authority flow. A visual representation of the company's formal structure. A visual device that shows relationships among people and divides the organization's work; it shows who reports to whom

Departmentalization

Dividing of organizational functions into separate units.. A technique used to divide activities and people according to the needs of the organization and its customers

Division of labor

Division of work into a number of separate tasks to be performed by different workers. This increased output and cut down prices. It was just a lot of semiskilled men who would work together for the whole job. A system of organizing production by giving separate tasks to separate workers or groups of workers. An arrangement in which workers perform only one step or a few steps in a larger production process (as when working on an assembly line). the assignment of different parts of a manufacturing process or task to different people in order to improve efficiency.

Mikhail Gorbachev

He was the eighth and last leader of the Soviet Union, having served as General Secretary of the Communist Party of the Soviet Union from 1985 until 1991 when the party was dissolved Gorbachev's policies of "openness" and "restructuring" as well as summit conferences with United States President Ronald Reagan and his reorientation of Soviet strategic aims contributed to the end of the Cold War, removed the constitutional role of the Communist Party in governing the state, and inadvertently led to the dissolution of the Soviet Union. He lost power after his reforms led to the collapse of Communist governments in eastern Europe. ..., Soviet statesman whose foreign policy brought an end to the Cold War and whose domestic policy introduced major reforms (born in 1931) -Sought to democratize the Soviet system His reforms included giving citizens the ability to freely voice their opinions (glasnost) and entirely restructuring the Soviet Union's economy. Realizing that the race to develop nuclear arms was destroying the economy, he agreed with President Reagan to stop making new arms and eliminate many that they had accumulated.

Formalization

How standardized an organization's jobs are and the extent to which employee behavior is guided by rules and procedures. McDonald's uses detailed standard operating procedures throughout the world to ensure product quality. Therefore, McDonald's has high degree of _________. An element of organizational structure that captures the extent to which employee behavior is controlled by explicit and codified rules and procedures. "Highly" formalized when there are many specific rules and procedures used in standardized behaviors and decisions.

So what happened to oil prices?

In short, as with any commodity, strong supply combined with weak demand is bearish for prices

Individual consumer surplus

Individual consumer surplus is the net gain to an individual buyer from the purchase of a good. It is equal to the difference between the buyer's willingness to pay and the price paid is the net gain to an individual buyer from the purchase of a good. It is equal to the difference between the buyer's willingness to pay and the price paid.

Claude Henri Saint-Simon

Inspired by the American Revolution, became a writer and philosopher on the industrial state founder of french socialism, became a "humanitarian" capitalism is wasteful, capitalists are taking advantage of workers, proposed central banking system and elimination of property inheritance, supported universal education significant to development of both conservative sociological theory and marxian theory Wanted to preserve society as it was, but he didn't seek return to life as it was in Middle Ages He was a French writer who proposed that the production of wealth should be managed by the government and the wealth should be distributed among all people. was a French political and economic theorist and businessperson whose thought played a substantial role in influencing politics, economics, sociology, and the philosophy of science. He created a political and economic ideology known as industrialism that claimed that the needs of an industrial class that he also referred to as the working class needed to be recognized and fulfilled to have an effective society and an efficient economy.

Benito Mussolini

Mussolini was an Italian politician, journalist, and leader of the National Fascist Party, ruling the country as Prime Minister from 1922 until his ousting in 1943 Mussolini's movement struck a chord with lower-middle-class people. Supporters wore black shirts and formed private militias. In 1922 Mussolini threatened a march on Rome to take over the government. King Victor Emmanuel capitulated to this threat and asked Mussolini to form a government. Once in power Mussolini abolished all other political parties and set out to transform Italy into a fascist state. Mussolini was one of the key figures in the creation of fascism Mussolini and his fascist followers consolidated their power through a series of laws that transformed the nation into a one-party dictatorship Within five years he had established dictatorial authority by both legal and extraordinary means, aspiring to create a totalitarian state. Mussolini remained in power until he was deposed by King Victor Emmanuel III in 1943

Marx's Five Stages of Human History

Marx believed in economic determinism, the idea that how a society produces and distributes its wealth will determine its social and political structure, laws, and even religion. Therefore, he saw history as a series of class struggles as humanity evolved through five basic stages of society: 1. Primitive hunting and gathering societies which had no extra wealth and therefore no private property, social classes, class struggles, or even the need for government; 2. Slave societies with a rich ruling class opposed by an oppressed underclass of slaves; 3. Feudal society with a noble class of landowning lords opposed by an oppressed class of serfs; 4. Capitalist society with a rich class of factory owners (bourgeoisie) opposed by an oppressed class of factory workers (the proletariat); and finally 5. Socialist society run by the workers with no private property, and thus no social classes, or class conflicts. - Marx saw each type of society as a necessary stage in the evolution toward the socialist society.

"Payment card network" (47-22-401)

Means an entity: (A) That directly, or through licensed members, processors, or agents, provides the proprietary services, infrastructure, and software that route information and data to conduct credit card, debit card, or other payment card transaction authorization, clearance, and settlement; and (B) That a person uses in order to accept as a form of payment a brand of credit card, debit card, or other payment card

Corporate State

Mussolini's economic and political machinery to manage the Italian economy and settle issues between labor and management one where all parts of the economy come under state control to help the country big businesses support the political party and control the economy; one where all parts of the economy come under state control to help the country under Mussolini. "Everything in the state, nothing outside the state, nothing against the state." Result: retarted technological progress and destroyed workers still own your capital, but the government tells you what to do with it

Utopian Socialism

Philosophy introduced by the Frenchman Charles Fourier in the early nineteenth century. Utopian socialists hoped to create humane alternatives to industrial capitalism by building self-sustaining communities whose inhabitants would work cooperatively Ideal society based on socialist ideals-Louis Blanc and Charles Fourier Felt that problems could be solved with state planning and state control of the economy; felt that planned industrialization will create economic equality Community works as a whole to strive for a common good; no self interest and everyone gets what they need. Profit is viewed as evil.

Authority

Power that has been institutionalized and is recognized by the people over whom it is exercised.

Mikhail Bakunin

Russian revolutionary, "Father of anarchy," critiqued Marxism, involved in the first international and led many revolts in Russia against the tsar a Russian anarchist with noble origins of the mid 19th century Russian anarchist; had established himself in 1848 as one of Europe's more flamboyant revolutionaries; joined the International in 1867; respected Marx and understood his materialist philosophy; supported nationalism and praised the revolutionary spirit of countries like Italy and Spain Russian; supporter of lower class; super radical; violent; wanted to overthrow government with act of terrorism; anti-Semitic father of modern anarchism

Matrix organization

Specialists from different parts of the organization work together temporarily on specific projects, but still remain part of a line-and-staff structure. Allows organizations to integrate the activities of a variety of specialists within a functional framework. An organizational structure that uses functional supervisors as well as project supervisors to manage the same people, depending upon the assignment.

Consumer surplus

The amount a buyer is willing to pay for a good minus the amount the buyer actually pays for it. Difference between what a consumer is willing to pay for a good and the amount actually paid. An economic measure of consumer satisfaction, which is calculated by analyzing the difference between what consumers are willing to pay for a good or service relative to its market price. A consumer surplus occurs when the consumer is willing to pay more for a given product than the current market price.

Producer surplus

The amount a seller is paid for a good minus the seller's cost of providing it. Difference between the it cost to produce (supply curve) and what you get to see it for (market price).

Property rights

The rights of an individual to own, use, rent, invest in, buy, and sell property. Bundle of legal rights over the use to which a resource is put and over the use made of any income that may be derived from that resource

SECTION 2

This act shall take effect July 1, 2015, the public welfare requiring it, and shall apply to all agreements entered into or renewed on or after that date.

Gandhi

This was a leader of the Indian independence movement in mid-20th century known for his nonviolent protests. Indian nationalist and spiritual leader who developed the practice of nonviolent disobedience that forced Great Britain to grant independence to India (1947). He was assassinated by a Hindu fanatic.

Totalitarianism (2)

Totalitarianism is often distinguished from dictatorship, despotism, or tyranny by its supplanting of all political institutions with new ones and its sweeping away of all legal, social, and political traditions. The totalitarian state pursues some special goal, such as industrialization or conquest, to the exclusion of all others. All resources are directed toward its attainment regardless of the cost. Whatever might further the goal is supported; whatever might foil the goal is rejected. Because pursuit of the goal is the only ideological foundation for the totalitarian state, achievement of the goal can never be acknowledged.

What are the prospects for asset prices and debt?

We expect Russia, hit by Western sanctions as well as lower oil prices, to experience a recession in 2015. But a steep decline in the rouble will ease pressures on the budget by increasing the value of oil revenue in rouble terms. And the government has suff cient foreign-currency reserves to prevent defaults by Russian corporates and banks unable to reÞ nance external debt repayments owing to Western sanctions. Venezuela is probably the large oil exporter most at risk of payment difÞ culties following years of loose fiscal policy and generally poor management of the economy.

Revisionists Socialists

Within the Marxist movement, the word revisionism is used to refer to various ideas, principles and theories that are based on a significant revision of fundamental Marxist premises. The term is most often used by those Marxists who believe that such revisions are unwarranted and represent a "watering down" or abandonment of Marxism. As such, revisionism often carries pejorative connotations. Those identified as "revisionists" have criticized "orthodox" Marxism for having disregarded Marx's view of the necessity of evolution of capitalism to achieve socialism by replacing it with an "either/or" dynamic between capitalism and socialism; for disregarding Marx's emphasis on the role of parliamentary democracy in achieving socialism; as well as criticizing Karl Kautsky for his idea of state socialism.

Broker

a businessman who buys or sells for another in exchange for a commission (mgmt), Person who acts as an intermediary between a buyer and seller, usually charging a commission. A broker who specializes in stocks, bonds, or options acts as AGENT and must be registered with the exchange where the securities are traded.

Divisional organization

a group in which the business is divided into certain market, geographic or product-based divisions. Organizational structure in which corporate divisions operate as autonomous businesses under the larger corporate umbrella

Liberation Theology

a movement within the Catholic church to understand Christianity from the perspective of the poor and oppressed, with a focus on fighting injustice A combination of Catholic theology and socialism, promoted (but not employed) in Latin America by some clergy and fewer politicians. An activist Catholic religious movement that combines Catholic beliefs with a passion for social justice for the poor. A faith that stresses the need for concrete political action to help the poor. refers to forms of local or contextual theology that proposes that knowledge of God based on revelation leads necessarily to a praxis that opposes unjust social and political structures. It has been described as "an interpretation of Christian faith through the poor's suffering, their struggle and hope, and a critique of society and the Catholic faith and Christianity through the eyes of the poor". Detractors have called it Christianized Marxism

Centralized organization

a structure in which authority is concentrated at the top, and very little decision-making authority is delegated to lower levels. An organization that puts authority in one place, with top management. (pg 60) - a group in which the authority to make decisions to rests on a few senior managers; characteristics of these organizations include consistency and standardization

Vladimir I. Lenin

along with his followers, known as the Bolsheviks overthrew the czarist regime in Russia, establishing a communist state 1919 communist leader sets up "red" state in russia. calls for worldwide revolution to abolish capitalism everywhere. threatens the US. The Bolshevik leader who started the Marxist revolution in Nov 1917 and modified orthodox Marxism in doing so Led Bolsheviks in Russia; after WWI, brought Communism to the country and welcomed peace to get Russia out of WWI to focus on building his Communist goals. He embraced the idea of Karl Marx. He also opposed the war because it only benefited the ruling class. He opened peace talks with Germany until they eventually signed the Treaty of Brest-Litovsk, which was harsh and gave a lot to Germany. Allied Powers are furious about this "betrayal."

Labor Theory of Value

an economic theory according to which the values of commodities are related to the labor needed to produce them. Theory that the value of any produced good or service is equal to the amount of labor used, directly or indirectly, to produce it. the belief that all value in produced goods is derived from labor A theory that the price of goods should reflect the amount of labor put into their making, and the money should compensate directly to the worker who made the goods rather than the employer. is an economic theory of value that states that the economic value of a good or service is determined by the total amount of socially necessary labour required to produce it. When speaking in terms of labour theory of value, value, without any qualifying adjective should theoretically refer to the amount of labour necessary to the production of a marketable commodity, including the labour necessary to the development of any real capital employed in the production.

Decentralized organization

an organization in which lower-level managers make important decisions.

Economic signal

any piece of information that helps people make better economic decisions. Is any piece of information that helps people make better market decisions. A signal given by the market price ensures total surplus is maximized by telling people when to buy, sell, or do nothing.

Individual Anarchism

concerned more with the needs of individuals, believes in negative liberty and has ties to libertarianism refers to several traditions of thought within the anarchist movement that emphasize the individual and their will over external determinants such as groups, society, traditions, and ideological systems. Individualist anarchism is not a single philosophy but refers to a group of individualistic philosophies that sometimes are in conflict. Thereafter, it expanded through Europe and the United States. Benjamin R. Tucker, a famous 19th-century individualist anarchist, held that "if the individual has the right to govern himself, all external government is tyranny." is any philosophy that opposes the compulsory subservience of the individual to all authority external to himself, whether this authority takes the form of another individual or social collectivities, such as states, nations, communities, majorities, races or social classes. is generally considered to be the branch of anarchism which sees individual freedom as being dependent upon mutual aid.

Reform Feminism

demands change with society but does not demand that the institutions of society themselves change The movement towards the full equality of men and women should on most issues be gradual and incremental. The current patriarchal structures are not so terrible that a complete break with them is immediately required. Indeed, there are nonpatriarchal aspects of the past and current culture that can be retrieved and used by contemporary feminists. Note: Reform feminists tend to have somewhat more sympathy for difference feminism than do radical feminists, though there is no inherent contradiction between reform feminism and equality feminism.

Coordination by mutual adjustment

depends on managers interacting extensively with counterparts; relies on direct, informal communication among those whose overlapping responsibilities require sharing information

Green Ideology

is a political ideology that aims to create an ecologically sustainable society rooted in environmentalism, non-violence, social justice, and grassroots democracy.[1] It began taking shape in the western world in the 1970s; since then Green parties have developed and established themselves in many countries around the globe, and have achieved some electoral success. Supporters of Green politics, called Greens (with a capital 'G'), share many ideas with the ecology, conservation, environmentalism, feminism, and peace movements. In addition to democracy and ecological issues, green politics is concerned with civil liberties, social justice, nonviolence, sometimes variants of localism[2] and tends to support social progressivism. The party's platform is largely considered left in the political spectrum.

Theory of Self-Alienation

describes the estrangement as a consequence of living in a society stratified into social classes. The alienation from the self is a consequence of being a mechanistic part of a social class, which condition estranges a person from his and her humanity. The theoretic basis of alienation, within the capitalist mode of production, is that the worker invariably loses the ability to determine his or her life and destiny, when deprived of the right to think (conceive) of himself as the director of his actions; to determine the character of said actions; to define relationships with other people; and to own the things and use the value of the goods and services, produced with his or her labour. Marx's theory of alienation assumes that a product is part of the human being who made it, that nature is part of the human being who cannot live independently of it, and that social relationships are part of the human being who engages in them.

Cultural Revolution

formally known as the Great Proletarian Cultural Revolution was a social-political movement that took place in the People's Republic of China from 1966 until 1976 Set into motion by Mao Zedong, then Chairman of the Communist Party of China, its stated goal was to preserve 'true' Communist ideology in the country by purging remnants of capitalist and traditional elements from Chinese society, and to re-impose Maoist thought as the dominant ideology within the Party The Revolution was launched in May 1966, after Mao alleged that bourgeois elements had infiltrated the government and society at large, aiming to restore capitalism. He insisted that these "revisionists" be removed through violent class struggle Millions of people were persecuted in the violent struggles that ensued across the country, and suffered a wide range of abuses including public humiliation, arbitrary imprisonment, torture, sustained harassment, and seizure of property In 1981, the Party declared that the Cultural Revolution was "responsible for the most severe setback and the heaviest losses suffered by the Party, the country, and the people since the founding of the People's Republic."

Sanctioned power

i.e., power that people recognize as legitimate. Person who has legitimacy to exert power, to enforce laws, demand obedience, make commands and determinations, or judge the acts of others.

Fidel Castro

is a Cuban politician and revolutionary who served as Prime Minister of Cuba from 1959 to 1976, and President from 1976 to 2008 Politically a Marxist-Leninist and Cuban nationalist, he also served as the First Secretary of the Communist Party of Cuba from 1961 until 2011 Under his administration the Republic of Cuba became a one-party socialist state; industry and business were nationalized, and state socialist reforms were implemented throughout society After participating in rebellions against right-wing governments in the Dominican Republic and Colombia, he planned the overthrow of Cuban President Fulgencio Batista, launching a failed attack on the Moncada Barracks in 1953 However, in 1959 he tried again and successfully overthrew Batista and Castro assumed military and political power The United States was alarmed by Castro's friendly relations with the Soviet Union, and unsuccessfully attempted to remove him by assassination, economic blockade, and counter-revolution, including the Bay of Pigs invasion of 1961

"Depository institution" (UNOFFICIAL) (47-22-401)

is a financial institution in the United States (such as a savings bank, commercial bank, savings and loan associations, or credit unions) that is legally allowed to accept monetary deposits from consumers

Weimar Republic

is a name given by historians to the federal republic and semi-presidential representative democracy established in 1919 in Germany to replace the imperial form of government It is named after Weimar, the city where the constitutional assembly took place. During this period, and well into the succeeding Nazi era, the official name of the state was German Reich the German republic that existed from 1919 to Hitler's accession to power in 1933 The Weimar government was unpopular because of its acceptance of the harsh provisions of the Treaty of Versailles The republic was faced with huge reparation costs deriving from the Treaty of Versailles as well as soaring inflation and high unemployment. The 1920s saw a growth in support for right-wing groups, and the Republic was eventually overthrown by the Nazi Party of Adolf Hitler.

Totalitarianism (1)

is a political system in which the state holds total authority over the society and seeks to control all aspects of public and private life wherever possible The concept became prominent in Western anti-communist political discourse during the Cold War era, in order to highlight perceived similarities between Nazi Germany and other Fascist states on the one hand, and Soviet Communist Party states on the other By the beginning of World War II, "totalitarian" had become synonymous with absolute and oppressive single-party government. In the broadest sense, totalitarianism is characterized by strong central rule that attempts to control and direct all aspects of individual life through coercion and repression.

Principles of Maoism (1)

is a political theory which is derived from the teachings of the Chinese political leader Mao Zedong Its followers, known as Maoists for short, consider it as an anti-Revisionist form of Marxism-Leninism Developed during the 1950s, 1960s, and up until the Deng Xiaoping reforms, it was widely applied as the political and military guiding ideology of the Communist Party of China (CPC), and as theory guiding revolutionary movements around the world. Components of Maoism include: New Democracy The theory of the New Democracy was known to the Chinese revolutionaries from the late 1940s. This thesis held that for the majority of the peoples of the planet, the long road to socialism could only be opened by a 'national, popular, democratic, anti-feudal and anti-imperialist revolution, run by the communists.'

Total consumer surplus

is the sum of the individual consumer surpluses of all the buyers of a good in a market. Adding the consumer surplus of every single person who has the willingness to pay equal to or greater than the market price. The sum of the individual consumer surpluses.

Inefficient

lacking the ability or skill to perform effectively. inadequate use of resources, time, or energy. Unproductive; inadequate in performance. wasteful of resources, time, or energy

"Payment processor" (47-22-401)

means a person that contracts directly with a merchant to provide settlement for the merchant's credit card, debit card, or other payment card transactions

"Merchant" (47-22-401)

means a person, located in this state, that is in the business of selling property or services and that accepts credit cards, debit cards, or other payment cards as payment for property or services sold

"Credit card" (47-22-401)

means any card, plate, coupon book, or other credit device existing for the purpose of obtaining money, property, labor, or services on credit

"Acquiring bank" (47-22-401)

means any depository institution, or any other member of a payment card network, that has entered into an agreement with a merchant to do the following: (A) Provide an account to the merchant that allows the merchant to accept credit card, debit card, or other payment card payments; and (B) (i) Purchase sales slips or otherwise acquire transactions from the merchant arising from the merchant's acceptance of credit cards, debit cards, or other payment cards; or (ii) Facilitate the processing of the merchant's transactions involving the acceptance of credit cards, debit cards, or other payment cards by providing the merchant's transaction information to a card issuer through a payment card network

"Card issuer" (47-22-401)

means any person who issues a credit card, debit card, or other payment card, or the agent of the person with respect to the card

Max Stirner

member of Die Freien (group of German philosophers), was a psychological egoist (believed that humans are motivated by self-interest), real name is Johann Casper Schmidt, was an Individualist anarchist (stresses the importance of the individual, says that the government calls its violence law and individual violence crime), believed that social constructs ("spooks") influence the way we think

Social Anarchism

recognizes positive liberty, equality of enlightenment, more collectivist, emphasizes the community is generally considered to be the branch of anarchism which sees individual freedom as being dependent upon mutual aid. Social anarchist thought generally emphasizes community and social equality. Social anarchism is used to specifically describe tendencies within anarchism that have an emphasis on the communitarian and cooperative aspects of anarchist theory and practice. Social anarchism is generally considered an umbrella term that includes (but is not limited to) anarcho-collectivism, anarcho-communism, anarcho-syndicalism, and social ecology.

Guided Democracy

religion is always guiding the people, and there is a parallel religious side to the government aim was to reconcile clashing points of view by the guidance of a single leader; present in Indonesia A method of change/transition in which an authoritarian or military regime tightly controls the transition process according to its own timetables. A method of change/transition in which an authoritarian or military regime tightly controls the transition process according to its own timetables. Installed by Sukarno; gave his government the power to decide what citizens should know/think; complete control over the armed forces; used government as a means to combine different groups into one government; characterized by authoritarian corporatism, a strong presidency, and an emasculated parliament; provided for the elimination of political Islam; concentrated power in the center; essentially martial law. Indonnesia

Line departments

the departments established to meet the major objectives of the business and directly influence the success (profitability) of a business -units that deal directly with the organizations primary goods and services. those that have responsibility for the principal activities of the firm; line units deal directly with the organization's primary goods or services; they make things, sell, or provide customer service

Theory of Surplus Value

the difference between the value of the product produced by labor and the actual price of labor as paid out in wages in Marxian analysis of Capitalism is a central concept in Karl Marx's critique of political economy. Marx did not himself invent the term, he developed the concept. "Surplus value" is a translation of the German word "Mehrwert", which simply means value added (sales revenue less the cost of materials used up). Conventionally, value-added is equal to the sum of gross wage income and gross profit income. However, Marx's use of this concept is different, because for Marx, the Mehrwert refers to the yield, profit or return on production capital invested, i.e. the amount of the increase in the value of capital. Hence, Marx's use of Mehrwert has always been translated as "surplus value", distinguishing it from "value-added". According to Marx's theory, surplus value is equal to the new value created by workers in excess of their own labour-cost, which is appropriated by the capitalist as profit when products are sold. Marx thought that the gigantic increase in wealth and population from the 19th century onwards was mainly due to the competitive striving to obtain maximum surplus-value from the employment of labor, resulting in an equally gigantic increase of productivity and capital resources. To the extent that increasingly the economic surplus is convertible into money and expressed in money, the amassment of wealth is possible on a larger and larger scale

Individual producer surplus

the net gain to an individual seller from selling a good. It is equal to the difference between the price received and the seller's cost. The difference between the price a seller sold for and the price he would have been willing to sell for.

Total producer surplus

the sum of the individual producer surpluses of all the sellers of a good in a market. the sum of the individual producer surpluses of all the sellers of a good in a market; graphically, the are above the supply curve and below the price. In a market, it is the sum of individual producer surplus of all the sellers of a good in market. The total producer surplus from sales of a good at a given price is the area above the supply curve but below that price.

Dynamic network

very flexible version, also called the modular or virtual corporations, composed of temporary arrangements among members that can be assembled and reassembled to meet a changing competitive environment. temporary arrangements among partners that can be assembled and reassembled to adapt to the environment

Richard Wagner

was a German composer, theatre director, polemicist, and conductor who is primarily known for his operas he was also known for his anti-semitic writings, which, posthumously, made him a favorite of Adolf Hitler. There is evidence that Wagner's music was played at the Dachau concentration camp to "re-educate" the prisoners Because of the associations of Wagner with antisemitism and Nazism, the performance of his music in the State of Israel has been a source of controversy Friedrich Nietzsche was a member of Wagner's inner circle during the early 1870s Wagner had publicly analysed the Oedipus myth before Freud was born

Georg Hegel

was a German philosopher who was a major figure in German idealism. Hegel's principal achievement was his development of absolute idealism At the core of Hegel's social and political thought are the concepts of freedom, reason, self-consciousness, and recognition. He explored how contradictions ultimately integrated to create the whole. Hegel is considered the last of the great philosophical-system builders of modern times, but his philosophies quickly became politicized, set in opposition to champions of individualism. Also, Karl Marx and other extremists on the Fascist-to-Communist spectrum inverted Hegelianism so that the rational whole being greater than the sum of its parts became a justification for authoritarian creeds.

Robert Owen

was a Welsh social reformer and one of the founders of utopian socialism and the cooperative movement. In 1824, Owen came to America to invest the bulk of his fortune in an experimental 1,000-member colony on the banks of Indiana's Wabash River, called New Harmony. New Harmony was to be a utopian, or ideal/perfect, society. Owen's explicit denunciation of religion evoked a mounting campaign against him which in later years damaged his public reputation and the work associated with his name.

Great Leap Forward

was an economic and social campaign by the Communist Party of China (CPC) from 1958 to 1961 The campaign was led by Mao Zedong and aimed to rapidly transform the country from an agrarian economy into a socialist society through rapid industrialization and collectivization. The years of the Great Leap Forward in fact saw economic regression, with 1958 through 1962 being the only period between 1953 and 1985 in which China's economy shrank. The campaign caused the Great Chinese Famine. 1950's-name for the 2nd five year plan in China- rapid industrialization through central planning under Mao's leadership China's second five-year plan under the leadership of the impatient Mao, it aimed to speen up economic development while simultaneously developing a completely socialitst society. This plan failed and more than 20 million people starved between 1958 and 1960. (1958) Mao Zedong's second Five-Year Plan for China; its goal was to speed progress 1957-1962, Mao tried unsuccessfully to rapidly increase China's industrial and agricultural production Started by Mao Zedong, combined collective farms into People's Communes, failed because there was no incentive to work harder, ended after 2 years 1) China's attempt to make itself industrially independent of outside aid during the 1950s

New Economic Plan

was an economic policy of Soviet Russia proposed by Vladimir Lenin, who called it "state capitalism" the NEP represented a more capitalism-oriented economic policy, deemed necessary after the Russian Civil War of 1917 to 1922, to foster the economy of the country, which was almost ruined Stalin abolished the New Economic Plan in 1928. A plan instituted by Lenin, who believed the Russian peasantry held the key to the success of the revolution. Allowed rural peasants and small business operators to manage their own land and businesses and to sell their products on the open market. Was not fully successful because there was no consumer goods the peasants could purchase with the money they received for their grain. Plan implemented by Lenin that allowed some private ownership of businesses and small plots of land. Lenin turning USSR slightly capitalists by allowing some privately owned business A plan instituted by Lenin int he early 1920s which allowed rural peasants and small business operators to manage their own land and businesses and to sell their products, a temporary compromise with capitalism that worked well enough to the Russian economy functioning again

Treaty of Versailles

was one of the peace treaties at the end of World War I. It ended the state of war between Germany and the Allied Powers The other Central Powers on the German side of World War I were dealt with in separate treaties Of the many provisions in the treaty, one of the most important and controversial required "Germany [to] accept the responsibility of Germany and her allies for causing all the loss and damage" during the war - This article, Article 231, later became known as the War Guilt clause The treaty forced Germany to disarm, make substantial territorial concessions, and pay reparations to certain countries Treaty of Versailles was the peace settlement signed after World War One had ended in 1918 and in the shadow of the Russian Revolution and other events in Russia. The treaty was signed at the vast Versailles Palace near Paris - hence its title The total deaths of all nations who fought in WWI is thought to have been 8.5 million with 21 million being wounded.