All sovereign societies on earth can be put roughly into two categories: developed and under-developed countries. The developed countries, including the United States, Canada, most of west Europe countries, Japan and Australia, are all free capitalist society with a well functioned democratic government and a free market economic system. The under-developed countries, including Russia and east ...

This paper tests Piketty's predictions that in the long run (i) the capital-income ratio, K-Y, is driven by the ratio between the rates of saving and income growth, s and g; and that (ii) the capital share of income responds to variations in the s-g ratio, along with the rate of return on capital, r. We assess the two predictions using both Piketty and Zucman's (2014) original data and a new lo...

It is impossible to understand women’s work in India – or indeed anywhere else in the world today – without situating it in the specific trajectory of capitalism in that location. Throughout its history, capitalism has proved adept at causing patterns of labour supply to change in accordance with demand, and this is particularly so in the case of female labour. Women have been part of the worki...

according to the classical economists such as ricardo, labour was considered as the only factor of production; while capital, realized in machinery, tools and the like was identified as the accumulated labour and that inferior lands can be exploited due to the use of labour on them. but, in the long run development of capitalism in the western countries, this idea, i.e. labour as the base of pr...