by ELC Staff | Nov 16, 2023 | Uncategorized
Was Karl Marx a communist or a socialist? Karl Marx was the co-author of The Communist Manifesto and an avowed communist. However, he recognized that promoting socialism was a means of achieving communism. What is the difference between communism and...
by ELC Staff | Nov 16, 2023 | Uncategorized
Capitalism: an economic system in which ownership of property and industry are put in the hands of individuals rather than the government. Socialism: an economic system in which the government wholly runs the economy, sets wages and prices, and decides who...
by ELC Staff | Nov 16, 2023 | Adam Smith, Economics Thinkers, F. A. Hayek, Karl Marx, Schools of Thought, Schumpeter, Socialism
Here are some of the important economics thinkers to know. This list will grow as we build this lesson. John Locke John Locke (1632–1704) was a 17th-century English philosopher, often regarded as the “father of liberalism.” His writings on political and economic...
by ELC Staff | Oct 15, 2023 | Economic Myths
https://fee.org/articles/3-common-economic-fallacies-that-need-to-die/ FEE.org posted 3 Common Economic Fallacies That Need to Die. Imports Subtract From Economic Growth Middle-Class Stagnation The Gender Wage Gap This gave me the idea to put together a list of...
by ELC Staff | Oct 12, 2023 | Economic Myths
This lesson will make the argument that the Industrial Revolution, Not Liberals, Destroyed The Family. While the Industrial Revolution brought about technological marvels and undeniably boosted economic growth, it also led to profound changes in society, particularly...
