No countries have or could have a Communist economic system. Communism is a classless stateless society based on production for use, with no money and no economy. Also, it would have to operate at a global level.
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Society for the Advancement of Economic Theory was created in 1991.
what does economic theory contribute to managerial economics
Marxist theory of development strengths include its emphasis on class struggle and the role of economic structures in shaping society, providing a critical lens for understanding inequality and exploitation. It highlights the influence of capitalism on social relations and the potential for revolutionary change. However, weaknesses include its deterministic view of historical development, which may overlook the complexities of cultural and political factors, and its often prescriptive approach to economic systems, which can be seen as overly simplistic in addressing modern development issues. Additionally, historical implementations of Marxist theory have faced significant challenges and criticisms.
Karl Marx
The economic theory of Karl Marx influenced the development of the Soviet Union. Marx's ideas on socialism and the need for a classless society were put into practice by the Bolsheviks led by Vladimir Lenin, ultimately leading to the establishment of a communist state in Russia.
The development of the microscope was most responsible for the development of the cell theory. With the improved ability to observe cells at a microscopic level, scientists were able to describe and understand the basic unit of life, leading to the formulation of the cell theory.
Jean Piaget is the psychologist responsible for the most comprehensive theory on cognitive development, known as Piaget's stages of cognitive development. His theory outlines four stages of cognitive development that children go through, providing insights into how they acquire knowledge and understand the world.
Karl Marx's work had a significant impact on modern political and economic theory by introducing the concept of communism and critiquing capitalism. His ideas influenced the development of socialist and communist movements, as well as shaping debates on class struggle, inequality, and the role of the state in regulating the economy.
Kenneth K Kurihara has written: 'The Keynesian theory of economic development' -- subject(s): Economic development
They invented Communism theory
Describe the procedure adopted under the scientific method in the development of economic theories
One example of a revolutionary thinker is Karl Marx, known for his contributions to the development of communist theory and his critique of capitalism. Marx's ideas have had a profound impact on political and economic thought, inspiring social movements around the globe.
David Miles Bensusan-Butt has written: 'On economic man' -- subject(s): Economics, Economic development 'On economic growth, an essay in pure theory' -- subject(s): Economic development
SHOVE has written: 'THE PLACE OF MARSHALL'S PRINCIPLES IN THE DEVELOPMENT OF ECONOMIC THEORY'
S. D. Narang has written: 'An introduction to the theory of bio-economics' -- subject(s): Economic conditions, Economic development, Social aspects, Social aspects of Economic development