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104-532: The Ukrainian Club is a social organization that was created in Kyiv in 1908. It was closed in 1912, but revived in 2002. The Ukrainian Club (Ukrainian: Український клуб, transliteration: Ukrayins'kyi klub) was a union of national public figures of Ukraine headed by Mykola Lysenko . The club's meetings were attended by the Ukrainian writers Ivan Nechuy-Levytsky, Lesya Ukrainka, her mother Olena Pchilka and Maxim Rylsky—then

208-731: A connection between capitalism and Protestantism . The economist Jeffrey Sachs has stated that his work was inspired by the healing characteristics of Judaism. Chief Rabbi Lord Sacks of the United Synagogue draws a correlation between modern capitalism and the Jewish image of the Golden Calf . In the Christian faith, the liberation theology movement advocated involving the church in labor market capitalism. Many priests and nuns integrated themselves into labor organizations while others moved into

312-598: A de facto labor market for conceptual workers. David McNally argues in the Marxist tradition that the logic of the market inherently produces inequitable outcomes and leads to unequal exchanges, arguing that Adam Smith 's moral intent and moral philosophy espousing equal exchange was undermined by the practice of the free markets he championed. The development of the market economy involved coercion, exploitation and violence that Smith's moral philosophy could not countenance. McNally also criticizes market socialists for believing in

416-574: A gymnasium pupil—as well as the actors Mariya Zankovetska and Mykola Sadovsky. In addition, Mykhailo Kotsiubynsky, Panas Myrny, and Ivan Franko visited the club during their stays in Kyiv. In 1912, the Kiev City Council had closed the Ukrainian Club, accusing it of subversive activity. But soon, another Ukrainian society, Rodyna, was arranged in the same building where the former Ukrainian Club met. When

520-510: A market-determined free price system to allocate capital goods and labor. In addition, there are many variations of market socialism where the majority of capital assets are socially owned with markets allocating resources between socially owned firms. These models range from systems based on employee-owned enterprises based on self-management to a combination of public ownership of the means of production with factor markets . Supply and demand supposedly work in tandem. The economic theory

624-429: A mix of roles of varying creativity, responsibility and empowerment) in a market economy, class divisions would arise, arguing: Without taking the argument that far, it is evident that in a market system with uneven distribution of empowering work, such as Economic Democracy, some workers will be more able than others to capture the benefits of economic gain. For example, if one worker designs cars and another builds them,

728-476: A profit , structured on the process of capital accumulation . In general, in capitalist systems investment, distribution, income and prices are determined by markets, whether regulated or unregulated. There are different variations of capitalism with different relationships to markets. In laissez-faire and free-market variations of capitalism, markets are utilized most extensively with minimal or no state intervention and minimal or no regulation over prices and

832-510: A secret political society, the Brotherhood of Saint Cyril and Methodius, whose members put forward the idea of a federation of free Slavic peoples with Ukrainians as a distinct and separate group rather than a subordinate part of the Russian nation; the Russian authorities quickly suppressed the society. Following the gradual loss of Ukraine's autonomy, Kyiv experienced growing Russification in

936-583: A single organizational body. For market economies to function efficiently, governments must establish clearly defined and enforceable property rights for assets and capital goods. However, property rights do not specifically mean private property rights and market economies do not logically presuppose the existence of private ownership of the means of production . Market economies can and often do include various types of cooperatives or autonomous state-owned enterprises that acquire capital goods and raw materials in capital markets . These enterprises utilize

1040-1362: A substantial impact on supply and demand. Technological innovations may increase supply, while laws issued by governments could decrease it or even demand. Natural disasters have the ability to severely disrupt supply chains, creating shortages of key items that increase costs while simultaneously decreasing demand. Supply and demand play an indispensable role in any market economy by ensuring prices reflect market forces accurately, adapting accordingly as conditions shift between supply and demand situations, while producers adjust production according to price signals from consumers, fulfilling customers' requests while giving individuals freedom in making purchasing choices based on personal preferences or financial constraints. Thus supply and demand play an instrumental part in shaping and stabilizing economies governed by market forces. A sustainable market economy seeks to balance economic expansion and environmental preservation. It acknowledges that sustainable environmental protection and resource management are essential for long-term economic growth. To achieve this balance, implementing sustainable practices across sectors, such as lowering carbon emissions, developing renewable energy sources, and putting circular economy ideas into practice. Tax incentives, carbon trading programs, and environmental requirements are just

1144-491: A truly laissez-faire system would be anti-capitalist and socialist . Welfare capitalism is a capitalist economy that includes public policies favoring extensive provisions for social welfare services. The economic mechanism involves a free market and the predominance of privately owned enterprises in the economy, but public provision of universal welfare services aimed at enhancing individual autonomy and maximizing equality. Examples of contemporary welfare capitalism include

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1248-403: A whole as opposed to private owners. The distinguishing feature between non-market socialism and market socialism is the existence of a market for factors of production and the criteria of profitability for enterprises. Profits derived from publicly owned enterprises can variously be used to reinvest in further production, to directly finance government and social services, or be distributed to

1352-528: Is Vitali Klitschko , who was sworn in on 5 June 2014, after he had won the 25 May 2014 Kyiv mayoral elections with almost 57% of the votes. Since 25 June 2014, Klitschko is also Head of Kyiv City Administration . Klitschko was last reelected in the 2020 Kyiv local election with 50.52% of the votes, in the first round of the election. Most key buildings of the national government are along Hrushevskoho Street ( vulytsia Mykhaila Hrushevskoho ) and Institute Street ( vulytsia Instytutska ). Hrushevskoho Street

1456-415: Is neoliberalism or ordoliberalism . Market socialism is a form of market economy where the means of production are socially owned . In a market socialist economy, firms operate according to the rules of supply and demand and operate to maximize profit; the principal difference between market socialism and capitalism being that the profits accrue either directly to the workers of the company or society as

1560-450: Is a significant role for government intervention to boost the efficiency of markets and to address the pervasive market failures that exist in contemporary economies. A fair market economy is in fact a martingale or a Brownian motion model and for a participant competitor in such a model there is no more than 50% of success chances at any given moment. Due to the fractal nature of any fair market and being market participants subject to

1664-419: Is achieved through public ownership of equity in a market economy. A Bureau of Public Ownership would own controlling shares in publicly listed firms, so that the profits generated would be used for public finance and the provision of a basic income. Some anarchists and libertarian socialists promote a form of market socialism in which enterprises are owned and managed cooperatively by their workforce so that

1768-409: Is an economic system where prices for goods and services are set freely by the forces of supply and demand and are expected by its supporters to reach their point of equilibrium without intervention by government policy. It typically entails support for highly competitive markets, private ownership of productive enterprises. Laissez-faire is a more extensive form of free-market economy where the role of

1872-435: Is based upon the idea of realizing the benefits of a free-market economy, especially economic performance and high supply of goods while avoiding disadvantages such as market failure , destructive competition, concentration of economic power and the socially harmful effects of market processes. The aim of the social market economy is to realize greatest prosperity combined with best possible social security. One difference from

1976-468: Is defined as any increase in price leading to an increase in supply from producers; demand on the other hand means any drop leads to an increase in desired quantities from consumers; these two laws meet at equilibrium when provided quantity equals quantity demanded - known as equilibrium price/quantity equilibrium point. Prices play an extremely vital role in market economies by providing important information about commodity and service availability. When there

2080-476: Is frequently characterized as state capitalism instead of market socialism because there is no meaningful degree of employee self-management in firms, because the state enterprises retain their profits instead of distributing them to the workforce or government and because many function as de facto private enterprises. The profits neither finance a social dividend to benefit the population at large, nor do they accrue to their employees. In China, this economic model

2184-405: Is in the oblast council building on ploshcha Lesi Ukrainky ("Lesya Ukrainka Square"). The growing political and economic role of the city, combined with its international relations, as well as extensive internet and social network penetration , have made Kyiv the most pro-Western and pro-democracy region of Ukraine; (so called) National Democratic parties advocating tighter integration with

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2288-520: Is named after the Ukrainian academician, politician, historian, and statesman Mykhailo Hrushevsky , who wrote an academic book titled: "Bar Starostvo: Historical Notes: XV–XVIII" about the history of Bar, Ukraine . That portion of the city is also unofficially known as the government quarter ( урядовий квартал ). The city state administration and council is in the Kyiv City council building on Khreshchatyk Street. The oblast state administration and council

2392-645: Is necessary for the government to provide protection from coercion and theft, maintaining peace and property rights and providing for basic public goods. Right-libertarian advocates of anarcho-capitalism see the state as morally illegitimate and economically unnecessary and destructive. Although laissez-faire has been commonly associated with capitalism, there is a similar left-wing laissez-faire system called free-market anarchism , also known as free-market anti-capitalism and free-market socialism to distinguish it from laissez-faire capitalism. Thus, critics of laissez-faire as commonly understood argues that

2496-406: Is presented as a preliminary stage of socialism to explain the dominance of capitalistic management practices and forms of enterprise organization in both the state and non-state sectors. A wide range of philosophers and theologians have linked market economies to concepts from monotheistic religions. Michael Novak described capitalism as being closely related to Catholicism, but Max Weber drew

2600-455: Is restricted to providing public goods and services and safeguarding private ownership, to interventionist forms where the government plays an active role in correcting market failures and promoting social welfare . State-directed or dirigist economies are those where the state plays a directive role in guiding the overall development of the market through industrial policies or indicative planning —which guides yet does not substitute

2704-500: Is strong demand but limited supply, prices increase, signaling to producers that there may be opportunities to increase profits by producing more of that product. Conversely, when there is low demand with increased supply then prices reduce, showing manufacturers they must either reduce output or find methods of cutting costs in order to stay competitive and remain profitable. External factors, including shifting technological standards, new government laws, and natural catastrophes can have

2808-413: Is that supply slopes upwards as people buy more and demand drops as prices rise and people buy less. Market economies rely upon a price system to signal market actors to adjust production and investment. Price formation relies on the interaction of supply and demand to reach or approximate an equilibrium where the unit price for a particular good or service is at a point where the quantity demanded equals

2912-536: Is the traditional English name for the city, but because of its historical derivation from the Russian name, Kiev lost favor with many Western media outlets after the outbreak of the Russo-Ukrainian War in 2014 in conjunction with the KyivNotKiev campaign launched by Ukraine to change the way that international media were spelling the city's name. The first known humans in the region of Kyiv lived there in

3016-652: The Battle on the Irpen' River and conquered the city. The Tatars , who also claimed Kyiv, retaliated in 1324–1325, so while Kyiv was ruled by a Lithuanian prince, it had to pay tribute to the Golden Horde . Finally, as a result of the Battle of Blue Waters in 1362, Algirdas , Grand Duke of Lithuania, incorporated Kyiv and surrounding areas into the Grand Duchy of Lithuania . In 1482, Crimean Tatars sacked and burned much of Kyiv. At

3120-705: The Hudud al-'Alam . The texts of those authors were discovered by Russian orientalist Alexander Tumansky . The etymology of Sambat has been argued by many historians, including Grigoriy Ilyinsky , Nikolay Karamzin , Jan Potocki , Nikolay Lambin , Joachim Lelewel , and Guðbrandur Vigfússon . The Primary Chronicle states that at some point during the late 9th or early 10th century Askold and Dir, who may have been of Viking or Varangian descent, ruled in Kyiv. They were murdered by Oleg of Novgorod in 882, but some historians, such as Omeljan Pritsak and Constantine Zuckerman , dispute that, arguing that Khazar rule continued as late as

3224-643: The Nordic model of capitalism predominant in Northern Europe. Anglo-Saxon capitalism is the form of capitalism predominant in Anglophone countries and typified by the economy of the United States . It is contrasted with European models of capitalism such as the continental social market model and the Nordic model . Anglo-Saxon capitalism refers to a macroeconomic policy regime and capital market structure common to

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3328-693: The Polesia woodland ecological zone, a part of the European mixed woods area, and the East European forest steppe biome . However, the city's unique landscape distinguishes it from the surrounding region. Kyiv is completely surrounded by Kyiv Oblast . Originally on the west bank, today Kyiv is on both sides of the Dnieper , which flows southwards through the city towards the Black Sea . The older and higher western part of

3432-471: The Ptolemy world map there are several settlements indicated along the mid-stream of Borysthenes , among which is Azagarium, which some historians believe to be the predecessor to Kyiv. However, according to the 1773 Dictionary of Ancient Geography of Alexander Macbean , that settlement corresponds to the modern city of Chernobyl . Just south of Azagarium, there is another settlement, Amadoca, believed to be

3536-503: The UN 2011 evaluation, there were no risks of natural disasters in Kyiv and its metropolitan area . Kyiv has a warm-summer humid continental climate ( Köppen Dfb ). The warmest months are June, July, and August, with mean temperatures of 13.8 to 24.8 °C (56.8 to 76.6 °F). The coldest are December, January, and February, with mean temperatures of −4.6 to −1.1 °C (23.7 to 30.0 °F). The highest ever temperature recorded in

3640-525: The Varangians ( Vikings ) in the mid-9th century. Under Varangian rule, the city became a capital of Kievan Rus' , the first East Slavic state. Completely destroyed during the Mongol invasions in 1240, the city lost most of its influence for the centuries to come. Coming under Lithuania , then Poland and then Russia , the city would grow from a frontier market into an important centre of Orthodox learning in

3744-481: The destruction of Kyiv . These events had a profound effect on the future of the city and on the East Slavic civilization . Before Bogolyubsky's pillaging, Kyiv had had a reputation as one of the largest cities in the world, with a population exceeding 100,000 at the beginning of the 12th century. In the early 1320s, a Lithuanian army led by Grand Duke Gediminas defeated a Slavic army led by Stanislav of Kyiv at

3848-528: The 1920s Ukrainization as well as the migration of the rural Ukrainophone population made the Russophone city Ukrainian-speaking and bolstered the development of Ukrainian cultural life in the city; the Soviet industrialization that started in the late 1920s turned the city, a former centre of commerce and religion, into a major industrial, technological and scientific centre; the 1932–1933 Great Famine devastated

3952-483: The 19th century, by means of Russian migration, administrative actions, and social modernization. At the beginning of the 20th century the Russian-speaking part of the population dominated the city centre, while the lower classes living on the outskirts retained Ukrainian folk culture to a significant extent. However, enthusiasts among ethnic Ukrainian aristocrats, soldiers, and merchants made attempts to preserve

4056-495: The 2nd to the 4th centuries suggest trade relations with the eastern provinces of the Roman Empire . Notable archaeologists of the area around Kyiv include Vikentiy Khvoyka . Scholars continue to debate when the city was founded: The traditional founding date is 482 CE, so the city celebrated its 1,500th anniversary in 1982. Archaeological data indicates a founding in the sixth or seventh centuries, with some researchers dating

4160-518: The 920s, leaving historical documents such as the Kievan Letter and Schechter Letter . Other historians suggest that Magyar tribes ruled the city between 840 and 878, before migrating with some Khazar tribes to the Carpathian Basin . The Primary Chronicle mentions Hungarians passing near Kyiv. Askold's Grave was previously known as " Uhorske urochyshche " (Hungarian place). According to

4264-513: The Anglophone economies. Among these characteristics are low rates of taxation, more open international markets, lower labor market protections and a less generous welfare state eschewing collective bargaining schemes found in the continental and northern European models of capitalism. The East Asian model of capitalism involves a strong role for state investment and in some instances involves state-owned enterprises. The state takes an active role in promoting economic development through subsidies,

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4368-521: The Canadian Ukrainian linguist Jaroslav Rudnyckyj , the name can be connected to the Proto-Slavic root *kyjь , but should be interpreted as meaning 'stick, pole' as in its modern Ukrainian equivalent Кий . The name should in that case be interpreted as 'palisaded settlement'. Kyiv is the romanized official Ukrainian name for the city, and it is used for legislative and official acts. Kiev

4472-705: The Dnieper River forms a branching system of tributaries , isles, and harbors within the city limits. The city is close to the mouth of the Desna River and the Kyiv Reservoir in the north, and the Kaniv Reservoir in the south. Both the Dnieper and Desna rivers are navigable at Kyiv, although regulated by the reservoir shipping locks and limited by winter freeze-over. In total, there are 448 bodies of open water within

4576-595: The Empire and the major centre of commerce in its southwest. In the turbulent period following the 1917 Russian Revolution , Kyiv became the capital of several successive Ukrainian states and was caught in the middle of several conflicts: World War I , during which German soldiers occupied it from 2 March 1918 to November 1918, the Russian Civil War of 1917 to 1922, and the Polish–Soviet War of 1919–1921. During

4680-644: The European Union receive most votes during elections in Kyiv. In a poll conducted by the Kyiv International Institute of Sociology in the first half of February 2014, 5.3% of those polled in Kyiv believed "Ukraine and Russia must unite into a single state", nationwide this percentage was 12.5. The Dnieper River naturally divides Kyiv into the Right Bank and the Left Bank areas. Historically on

4784-565: The Khazars". In De Administrando Imperio , Constantine Porphyrogenitus mentions a caravan of small cargo boats which assembled annually, and writes, "They come down the river Dnieper and assemble at the strong-point of Kyiv (Kioava), also called Sambatas". At least three Arabic-speaking 10th century geographers who traveled the area mention the city of Zānbat as the chief city of the Russes. Among them are ibn Rustah, Abu Sa'id Gardezi , and an author of

4888-560: The Kyiv Chronicle in the 12th century, and they were identified as old-Russian mythological heroes. The city of Kyiv stood on the trade route between the Varangians and the Greeks . In 968 the nomadic Pechenegs attacked and then besieged the city . By 1000 CE the city had a population of 45,000. In March 1169, Grand Prince Andrey Bogolyubsky of Vladimir-Suzdal sacked Kyiv , leaving

4992-670: The Soviet period, became the Bogomolets National Medical University in 1995. During the 18th and 19th centuries, the Imperial Russian Army and ecclesiastical authorities dominated city life; the Russian Orthodox Church had involvement in a significant part of Kyiv's infrastructure and commercial activity. In the late 1840s the historian, Mykola Kostomarov (Russian: Nikolai Kostomarov ), founded

5096-519: The Western world since the end of mercantilism . However, it is argued that the term mixed economies more precisely describes most contemporary economies due to their containing both private-owned and state-owned enterprises. In capitalism, prices determine the demand-supply scale. Higher demand for certain goods and services leads to higher prices and lower demand for certain goods lead to lower prices, in relation to supply. A capitalist free-market economy

5200-513: The aforementioned scholars the building of the fortress of Kyiv was finished in 840 under the leadership of Keő (Keve), Csák, and Geréb, three brothers, possibly members of the Tarján tribe . The three names appear in the Kyiv Chronicle as Kyi, Shchek, and Khoryv and may be not of Slavic origin, as Russian historians have always struggled to account for their meanings and origins. According to Hungarian historian Viktor Padányi, their names were inserted into

5304-449: The boundaries of Kyiv, which include the Dnieper itself, its reservoirs, and several small rivers, dozens of lakes and artificially created ponds. They occupy 7949 hectares. Additionally, the city has 16 developed beaches (totalling 140 hectares) and 35 near-water recreational areas (covering more than 1,000 hectares). Many are used for pleasure and recreation, although some of the bodies of water are not suitable for swimming. According to

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5408-567: The buildings on the Khreshchatyk , the main street of the city, where German military and civil authorities had occupied most of the buildings; the buildings burned for days and 25,000 people were left homeless. Allegedly in response to the actions of the NKVD, the Germans rounded up all the local Jews they could find, nearly 34,000, and massacred them at Babi Yar in Kyiv on 29 and 30 September 1941. In

5512-663: The capital of the Amadoci people living in an area between the marshes of Amadoca in the west and the Amadoca mountains in the east. Another name for Kyiv mentioned in history, the origin of which is not completely clear, is Sambat, which apparently has something to do with the Khazar Empire . The Primary Chronicle says the residents of Kyiv told Askold "there were three brothers Kyi, Shchek, and Khoriv. They founded this town and died, and now we are staying and paying taxes to their relatives

5616-568: The church. The Buddhist approach to the market economy was dealt with in E. F. Schumacher 's 1966 essay "Buddhist Economics". Schumacher asserted that a market economy guided by Buddhist principles would more successfully meet the needs of its people. He emphasized the importance or pursuing occupations that adhered to Buddhist teachings. The essay would later become required reading for a course that Clair Brown offered at University of California, Berkeley . The economist Joseph Stiglitz argues that markets suffer from informational inefficiency and

5720-450: The city again suffered significant damage, and Nazi Germany occupied it from 19 September 1941 to 6 November 1943 . Axis forces killed or captured more than 600,000 Soviet soldiers in the great encircling Battle of Kyiv in 1941. Most of those captured never returned alive. Shortly after the Wehrmacht occupied the city, a team of NKVD officers who had remained hidden dynamited most of

5824-572: The city border the Polesian Lowland . Kyiv expanded into the Dnieper Lowland on the left bank ( to the east ) as late as the 20th century. The whole portion of Kyiv on the left bank of the Dnieper is generally referred to as the Left Bank ( Лівий берег , Livyi bereh ). Significant areas of the left bank Dnieper valley were artificially sand-deposited, and are protected by dams. Within the city

5928-456: The city is now he erected a cross, where a church later was built. Since the Middle Ages an image of Saint Michael has represented the city as well as the duchy . There is little historical evidence pertaining to the period when the city was founded. Scattered Slavic settlements existed in the area from the 6th century, but it is unclear whether any of them later developed into the city. On

6032-420: The city sits on numerous wooded hills ( Kyiv Hills ), with ravines and small rivers. Kyiv's geographical relief contributed to its toponyms , such as Podil ("lower"), Pechersk ("caves"), and uzviz (a steep street, "descent"). Kyiv is a part of the larger Dnieper Upland adjoining the western bank of the Dnieper in its mid-flow, and which contributes to the city's elevation change. The northern outskirts of

6136-472: The city was 39.4 °C (102.9 °F) on 30 July 1936. The coldest temperature ever recorded in the city was −32.9 °C (−27.2 °F) on 11 January 1951. Snow cover usually lies from mid-November to the end of March, with the frost-free period lasting 180 days on average, but surpassing 200 days in some years. The municipality of the city of Kyiv has a special legal status within Ukraine compared to

6240-506: The city was subdivided into 4 parts: Pechersk , Starokyiv, and the first and the second parts of Podil . In 1833–1834 according to Tsar Nicholas I 's decree, Kyiv was subdivided into 6 police raions ( districts ); later being increased to 10. In 1917, there were 8 Raion Councils ( Duma ), which were reorganised by bolsheviks into 6 Party-Territory Raions. Market economy Market economies range from minimally regulated free market and laissez-faire systems where state activity

6344-592: The city's administration gave permission to organize the Rodyna club, it was assumed that the stress mark on the first syllable meant motherland, Rodina. However, the members of the club always called it Rodyna (translated as family in Ukrainian). Kyiv Kyiv (also Kiev ) is the capital and most populous city of Ukraine . It is in north-central Ukraine along the Dnieper River . As of 1 January 2022, its population

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6448-458: The city. According to Oleg Trubachyov 's etymological dictionary from the Old East Slavic name *Kyjevŭ gordŭ (literally, "Kyi's castle", "Kyi's gord "), from Proto-Slavic *kyjevъ , This etymology has been questioned, for instance by Mykhailo Hrushevsky who called it an "etymological myth", and meant that the names of the legendary founders are in turn based on place names. According to

6552-682: The city. However, the prevailing south wind blew most of the radioactive debris away from Kyiv. In the course of the collapse of the Soviet Union the Ukrainian parliament proclaimed the Declaration of Independence of Ukraine in the city on 24 August 1991. In 2004–2005, the city played host to the largest post-Soviet public demonstrations up to that time, in support of the Orange Revolution . From November 2013 until February 2014, central Kyiv became

6656-440: The country . During the country's transformation to a market economy and electoral democracy , Kyiv has continued to be Ukraine's largest and wealthiest city. Its armament-dependent industrial output fell after the Soviet collapse, adversely affecting science and technology, but new sectors of the economy such as services and finance facilitated Kyiv's growth in salaries and investment, as well as providing continuous funding for

6760-481: The designer will use his cognitive skills more frequently than the builder. In the long term, the designer will become more adept at conceptual work than the builder, giving the former greater bargaining power in a firm over the distribution of income. A conceptual worker who is not satisfied with his income can threaten to work for a company that will pay him more. The effect is a class division between conceptual and manual laborers, and ultimately managers and workers, and

6864-475: The development of housing and urban infrastructure. Kyiv emerged as the most pro-Western region of Ukraine; parties advocating tighter integration with the European Union dominate during elections . The traditional etymology, stemming from the Primary Chronicle , is that the name is a derivation of Kyi (Ukrainian: Кий , Russian: Кий , rom. : Ky or Kiy ), the legendary eponymous founder of

6968-591: The empire's most important religious figures, but until the 19th century, the city's commercial importance remained marginal. In 1834, the Russian government established Saint Vladimir University, now called the Taras Shevchenko National University of Kyiv after the Ukrainian poet Taras Shevchenko (1814–1861). (Shevchenko worked as a field researcher and editor for the geography department). The medical faculty of Saint Vladimir University, separated into an independent institution in 1919–1921 during

7072-571: The facilitation of "national champions" and an export-based model of growth. The actual practice of this model varies by country. This designation has been applied to the economies of China , Japan , Singapore , South Korea , and Vietnam . A related concept in political science is the developmental state . The social market economy was implemented by Alfred Müller-Armack and Ludwig Erhard after World War II in West Germany . The social market economic model, sometimes called Rhine capitalism ,

7176-416: The founding as late as the late 9th century. There are several legendary accounts of the origin of the city. One tells of members of a Slavic tribe ( Eastern Polans ), brothers Kyi (the eldest, after whom the city was named), Shchek, Khoryv, and their sister Lybid, who founded the city (See the Primary Chronicle ). Another legend states that Saint Andrew passed through the area in the 1st century. Where

7280-422: The free market economy is that the state is not passive, but instead takes active regulatory measures. The social policy objectives include employment, housing and education policies, as well as a socio-politically motivated balancing of the distribution of income growth. Characteristics of social market economies are a strong competition policy and a contractionary monetary policy . The philosophical background

7384-648: The last three months of 1919, Kyiv was intermittently controlled by the White Army . Kyiv changed hands sixteen times from the end of 1918 to August 1920. From 1921 to 1991, the city formed part of the Ukrainian Soviet Socialist Republic , which became a founding republic of the Soviet Union in 1922. The major events that took place in Soviet Ukraine during the interwar period all affected Kyiv:

7488-533: The late paleolithic period ( Stone Age ). The population around Kyiv during the Bronze Age formed part of the so-called Trypillian culture , as evidenced by artifacts from that culture found in the area. During the early Iron Age certain tribes settled around Kyiv that practiced land cultivation, husbandry and trading with the Scythians and ancient states of the northern Black Sea coast. Findings of Roman coins of

7592-467: The law of competition which impose reinvesting an increasing part of profits, the mean statistical chance of bankruptcy within the half life of any participant is also 50% and 100% whether an infinite sample of time is considered. Robin Hahnel and Michael Albert claim that "markets inherently produce class division ". Albert states that even if everyone started out with a balanced job complex (doing

7696-440: The market for economic planning —a form sometimes referred to as a mixed economy . Market economies are contrasted with planned economies where investment and production decisions are embodied in an integrated economy-wide economic plan. In a centrally planned economy , economic planning is the principal allocation mechanism between firms rather than markets, with the economy's means of production being owned and operated by

7800-400: The market to their favor, either in the form of monopoly and market power, or by utilizing their wealth and resources to legislate government policies that benefit their specific business interests. Additionally, Vaněk states that workers in a socialist economy based on cooperative and self-managed enterprises have stronger incentives to maximize productivity because they would receive a share of

7904-549: The months that followed, thousands more were taken to Babi Yar where they were shot. It is estimated that the Germans murdered more than 100,000 people of various ethnic groups, mostly civilians, at Babi Yar during World War II. Kyiv recovered economically in the post-war years, becoming once again the third-most important city of the Soviet Union. The catastrophic accident at the Chernobyl Nuclear Power Plant in 1986 occurred only 100 km (62 mi) north of

8008-521: The name of Kyi , one of its four legendary founders. During its history , Kyiv, one of the oldest cities in Eastern Europe, passed through several stages of prominence and obscurity. The city probably existed as a commercial center as early as the 5th century. A Slavic settlement on the great trade route between Scandinavia and Constantinople , Kyiv was a tributary of the Khazars , until its capture by

8112-558: The native culture in Kyiv, by clandestine book-printing, amateur theatre, folk studies, etc. During the Russian industrial revolution in the late 19th century, Kyiv became an important trade and transportation centre of the Russian Empire, specialising in sugar and grain export by railway and on the Dnieper river . By 1900, the city had also become a significant industrial centre, with a population of 250,000. Landmarks of that period include

8216-501: The old town and the prince's hall in ruins. He took many pieces of religious artwork - including the Theotokos of Vladimir icon - from Vyshhorod. In 1203, Prince Rurik Rostislavich and his Kipchak allies captured and burned Kyiv. In the 1230s, the city was besieged and ravaged several times by different Rus princes. The city had not recovered from these attacks when, in 1240, the Mongol invasion of Rus' , led by Batu Khan , completed

8320-542: The other administrative subdivisions of the country . The most significant difference is that the city is considered as a region of Ukraine (see Regions of Ukraine ). It is the only city that has double jurisdiction. The Head of City State Administration – the city's governor – is appointed by the president of Ukraine , while the Head of the City Council – the mayor of Kyiv – is elected by local popular vote. The mayor of Kyiv

8424-410: The part of the migrant population not registered for ration cards; and Joseph Stalin 's Great Purge of 1937–1938 almost eliminated the city's intelligentsia In 1934, Kyiv became the capital of Soviet Ukraine. The city boomed again during the years of Soviet industrialization as its population grew rapidly and many industrial giants were established, some of which exist today. In World War II ,

8528-439: The possibility of fair markets based on equal exchanges to be achieved by purging parasitical elements from the market economy such as private ownership of the means of production . McNally argues that market socialism is an oxymoron when socialism is defined as an end to wage-based labor . Supply and demand play an instrumental role in driving market economies by setting both prices and quantities traded in markets. Supply

8632-578: The presumed efficiency of markets stems from the faulty assumptions of neoclassical welfare economics, particularly the assumption of perfect and costless information and related incentive problems. Neoclassical economics assumes static equilibrium and efficient markets require that there be no non- convexities , even though nonconvexities are pervasive in modern economies. Stiglitz's critique applies to both existing models of capitalism and to hypothetical models of market socialism. However, Stiglitz does not advocate replacing markets, but instead states that there

8736-510: The primary location of Euromaidan . During the onset of the Russian invasion of Ukraine in February 2022, Russian forces attempted to seize Kyiv but were repelled by Ukrainian forces on the outskirts of the city; Kyiv itself escaped major damage. Following the Russian retreat from the region in April 2022, Kyiv has been subject to frequent air strikes . Geographically, Kyiv is on the border of

8840-499: The profits (based on the overall performance of their enterprise) in addition to receiving their fixed wage or salary. The stronger incentives to maximize productivity that he conceives as possible in a socialist economy based on cooperative and self-managed enterprises might be accomplished in a free-market economy if cooperatives were the norm as envisioned by various thinkers including Louis O. Kelso and James S. Albus . Market socialism traces its roots to classical economics and

8944-485: The profits directly remunerate the employee-owners. These cooperative enterprises would compete with each other in the same way private companies compete with each other in a capitalist market. The first major elaboration of this type of market socialism was made by Pierre-Joseph Proudhon and was called mutualism. Self-managed market socialism was promoted in Yugoslavia by economists Branko Horvat and Jaroslav Vaněk . In

9048-505: The profits would be disbursed among the population in a social dividend. This model came to be referred to as market socialism because it involved the use of money, a price system and simulated capital markets, all of which were absent from traditional non-market socialism. A more contemporary model of market socialism is that put forth by the American economist John Roemer , referred to as economic democracy . In this model, social ownership

9152-415: The public at large through a social dividend or basic income system. Advocates of market socialism such as Jaroslav Vaněk argue that genuinely free markets are not possible under conditions of private ownership of productive property. Instead, he contends that the class differences and inequalities in income and power that result from private ownership enable the interests of the dominant class to skew

9256-463: The quantity supplied. The price data point where the supply and demand lines intersect is called the market-clearing price . Governments can intervene by establishing price ceilings or price floors in specific markets (such as minimum wage laws in the labor market), or use fiscal policy to discourage certain consumer behavior or to address market externalities generated by certain transactions ( Pigovian taxes ). Different perspectives exist on

9360-406: The railway infrastructure, the foundation of numerous educational and cultural facilities, and notable architectural monuments (mostly merchant-oriented). In 1892, the first electric tram line of the Russian Empire started running in Kyiv (the third in the world). Kyiv prospered during the late 19th century Industrial Revolution in the Russian Empire, when it became the third most important city of

9464-445: The role of government in both regulating and guiding market economies and in addressing social inequalities produced by markets. Fundamentally, a market economy requires that a price system affected by supply and demand exists as the primary mechanism for allocating resources irrespective of the level of regulation. Capitalism is an economic system where the means of production are largely or entirely privately owned and operated for

9568-413: The self-managed model of socialism, firms would be directly owned by their employees and the management board would be elected by employees. These cooperative firms would compete with each other in a market for both capital goods and for selling consumer goods. Following the 1978 reforms , China developed what it calls a socialist market economy in which most of the economy is under state ownership, with

9672-672: The sixteenth century, and later of industry, commerce, and administration by the nineteenth. The city prospered again during the Russian Empire's Industrial Revolution in the late 19th century. In 1918, when the Ukrainian People's Republic declared independence from the Russian Republic after the October Revolution there, Kyiv became its capital. From the end of the Ukrainian-Soviet and Polish-Soviet wars in 1921, Kyiv

9776-481: The slums to live among the poor. The Holy Trinity was interpreted as a call for social equality and the elimination of poverty. However, the Pope John Paul II was highly active in his criticism of liberation theology. He was particularly concerned about the increased fusion between Christianity and Marxism . He closed Catholic institutions that taught liberation theology and dismissed some of its activists from

9880-484: The state enterprises organized as joint-stock companies with various government agencies owning controlling shares through a shareholder system. Prices are set by a largely free-price system and the state-owned enterprises are not subjected to micromanagement by a government planning agency. A similar system called socialist-oriented market economy has emerged in Vietnam following the Đổi Mới reforms in 1986. This system

9984-592: The state is limited to protecting property rights and enforcing contracts . Laissez-faire is synonymous with what was referred to as strict free-market economy during the early and mid-19th century as a classical liberal ideal to achieve. It is generally understood that the necessary components for the functioning of an idealized free market include the complete absence of government regulation, subsidies, artificial price pressures and government-granted monopolies (usually classified as coercive monopoly by free market advocates) and no taxes or tariffs other than what

10088-484: The supply of goods and services. In interventionist , welfare capitalism and mixed economies , markets continue to play a dominant role, but they are regulated to some extent by the government in order to correct market failures or to promote social welfare. In state capitalist systems, markets are relied upon the least, with the state relying heavily on either indicative planning and/or state-owned enterprises to accumulate capital. Capitalism has been dominant in

10192-681: The time of the Lithuanian rule, the core of the city was located in Podil and there was a Lithuanian Kyiv Castle  [ uk ] with 18 towers on the Zamkova Hora which served as a residence of Vladimir Olgerdovich , Grand Prince of Kyiv , and subsequently of the Grand Dukes of Lithuania (e.g. Vytautas ). With the 1569 Union of Lublin , when the Polish–Lithuanian Commonwealth

10296-624: The treaty never went into operation. Occupied by Russian troops since the 1654 Treaty of Pereyaslav , Kyiv became a part of the Tsardom of Russia from 1667 on the Truce of Andrusovo and enjoyed a degree of autonomy. None of the Polish-Russian treaties concerning Kyiv have ever been ratified. In the Russian Empire , Kyiv was a primary Christian centre , attracting pilgrims , and the cradle of many of

10400-556: The western right bank of the river, the city expanded into the left bank only in the 20th century. Most of Kyiv's attractions as well as the majority of business and governmental institutions are on the right bank. The eastern "Left Bank" is predominantly residential. There are large industrial and green areas in both the Right Bank and the Left Bank. Kyiv is further informally divided into historical or territorial neighbourhoods, each housing from about 5,000 to 100,000 inhabitants. The first known formal subdivision of Kyiv dates to 1810 when

10504-624: The works of Adam Smith , the Ricardian socialists and mutualist philosophers. In the 1930s, the economists Oskar Lange and Abba Lerner developed a model of socialism that posited that a public body (dubbed the Central Planning Board) could set prices through a trial-and-error approach until they equaled the marginal cost of production in order to achieve perfect competition and pareto optimality . In this model of socialism, firms would be state-owned and managed by their employees and

10608-572: Was 2,952,301, making Kyiv the seventh-most populous city in Europe. Kyiv is an important industrial, scientific, educational, and cultural center in Eastern Europe . It is home to many high-tech industries, higher education institutions, and historical landmarks. The city has an extensive system of public transport and infrastructure, including the Kyiv Metro . The city's name is said to derive from

10712-483: Was a city of the Ukrainian SSR , and made its capital in 1934. The city suffered significant destruction during World War II but quickly recovered in the postwar years, remaining the Soviet Union 's third-largest city. Following the collapse of the Soviet Union and Ukrainian independence in 1991, Kyiv remained Ukraine's capital and experienced a steady influx of ethnic Ukrainian migrants from other regions of

10816-721: Was established, the Lithuanian-controlled lands of the Kyiv region ( Podolia , Volhynia , and Podlachia ) were transferred from the Grand Duchy of Lithuania to the Crown of the Kingdom of Poland , and Kyiv became the capital of Kyiv Voivodeship . The 1658 Treaty of Hadiach envisaged Kyiv becoming the capital of the Grand Duchy of Rus' within the Polish–Lithuanian–Ruthenian Commonwealth , but this provision of

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