economic philosophy
Theory of markets
Economic philosophy is a framework of ideas and principles about how economies should be organized, what role government should play in markets, and how wealth and resources ought to be distributed.
It encompasses broad schools of thought like capitalism, socialism, and libertarianism, each offering different answers to questions about property, labor, and the relationship between individual freedom and collective welfare.
Someone's economic philosophy shapes their views on taxation, regulation, and social programs.
- scarcityInsufficiency of something needed
- supply and demandPrice-determining economic forces
- capitalismPrivate profit-based economy
- free marketCommerce without state intervention
- laissez fairePolicy of nonintervention
fairness · industrial revolution · marginalism · utility · rational choice · socialism · neoliberalism · justice · sustainability · opportunity cost · value · mercantilism · human dignity · feudalism · means of production · exploitation · wealth distribution · trickle down
economic philosophybookkeeping
Recording financial transactions systematically
accounting · bean counting · number crunching · economic policy · financial management
economic philosophyeconometrics
Statistical analysis of markets
financial modeling · market research · economic data · statistical analysis · economic forecasting
economic philosophymoral philosophy
Study of right conduct
ethical theory · religious doctrine · metaphysics · theology · philosophy of art
economic, economy, economics, economical, economically, economist, economists, economies, economize