Revered Knowledge
By Max Moon
By Max Moon
Revered knowledge:
information, studies, and theories that have shifted the course of academia and research paradigms.
Sources:
Morton D Davis and Steven J Brams, “Game Theory | Mathematics,” in Encyclopædia Britannica, October 4, 2018, https://www.britannica.com/science/game-theory.
J. D. Ohlin, “Nash Equilibrium and International Law,” European Journal of International Law 23, no. 4 (November 1, 2012): 915–40, https://doi.org/10.1093/ejil/chs060.
Economic & sociological theory
Jon von Neuman, Oskar Morgenstern, & John Nash
Development starting in the 1920s
At its core, Game theory uses mathematical concepts and theories to explain the outcomes of interdependent interactions. This interdependence inherently means that players must consider the other's possible strategies before making their own, resulting in a paradox in decision analysis.
Although developed originally to understand economic behaviors between markets and customers, Game Theory has also evolved to become central to the human sciences. One revered piece of knowledge from Game Theory is the Nash Equilibrium, which seeks to find a preferable outcome where all players give the "best response," such as in the famous prisoner's dilemma. The equilibrium gravitates towards "compliance" between parties, prioritizing safe, bilateral decisions over selfish, unilateral ones.
Game theory models the classical probability theory after human tendencies, intersecting the hard sciences with the social sciences. Game Theory is now a crucial asset to studies in political science and economics; it is used to analyze market trends, define customer behaviors, determine candidate selections, and establish campaign strategies.
Sources:
Thomas Brock, “Marxism: Theory, Effects, and Examples,” Investopedia, 2021, https://www.investopedia.com/terms/m/marxism.asp.
Karl Marx, “Communist Manifesto (Chapter 4),” Marxists.org, 1848, https://www.marxists.org/archive/marx/works/1848/communist-manifesto/ch04.htm.
Social, political, & economic philosophy
Karl Marx & Friedrich Engels
Mid 19th century (The Communist Manifesto was published in 1848)
Marxism is a larger sociopolitical philosophy encompassing principles like conflict theory and Marxian economics outlined in the Communist Manifesto. In writing, it openly challenges capitalism as the world's dominant economic system, stating, "In short, the Communists everywhere support every revolutionary movement against the existing social and political order of things." Very punk of you, Karl.
Marxist thought suggests that the alienation of the proletariat will lead to a revolution to replace capitalism with a communist system. Such a society would see the elimination of exploitation (the result of free market competition), a lack of class distinctions, and collective ownership over production.
Marxism was revolutionary in that it was the antithesis of capitalism; it paved the way for economists, sociologists, and frustrated citizens alike to view class struggle with a critical lens. This ideology has been the basis for social change (e.g., China & Russia) and connected the social equality of the masses to flawed social structures. Although the effectiveness of the resulting societies of Marxist ideology is still disputed to this day, there is no doubt that its analytical framework is a valuable perspective on power and inequality in academia.