History of socialism French revolution, as well as from the German philosophy of GWF Hegel, and English political economy, particularly that of Adam Smith and David Ricardo. Marx and Engels developed a body of ideas which they called scientific socialism, more commonly called Marxism. Marxism comprised a theory of history (historical materialism) as well as a political, economic and philosophical theory. In the "Manifesto of the Communist Party", written in 1848 just days before the outbreak of the revolutions of 1848, Marx and Engels wrote, "The distinguishing feature of Communism is not the abolition of property generally, but the abolition of bourgeois property".
Institute for Social and Economic Research and Policy the centers incorporated into the Institute at its founding in 1999 as the Institute for Social and Economic Theory and Research (ISETR). Also joining ISETR were the Center for Urban Research and Policy, founded in 1992, and several new research centers. In January 2001, ISETR merged with the Office of Sponsored Research to become the Institute for Social and Economic Research and Policy. The fellowship of ISERP is drawn from faculty of the departments of Anthropology, Economics, History, Political Science, Psychology, Sociology, and Statistics, as well as of Barnard College, the Earth Institute, Teachers College, the Mailman School of Public