Neo-liberal economics is built upon the claim that the freedom to pursue one's self-interest and rational choice leads to economic growth and development. Against this background neo-liberal economists and policymakers endeavoured to universalise this claim, and insistently argue that appropriate economic policies produce the same results regardless of cultural values. Accordingly, developing countries are often advised to embrace the neo-liberal economic credo for them to escape from the trap of underdevelopment. However, the economic success (...) of South East Asia on the one hand and the failure of economic development in sub-Saharan Africa on the other, are increasingly proving that the 'economic' argument cannot be taken dogmatically: self-interest and rationality do not seem to be the sufficient explanations for economic development. One other avenue to be taken seriously is the link between cultural values and economic development. After viewing the principle of self-interest against its historico-cultural background, I consider this link in the African context, and argue that, although they cannot be taken as the sole factor, people's cultural beliefs and values are crucial for economic development. Economic growth and development need to be a substantiation of a people's beliefs and values. In African value system, this substantiation could lead to what one would call 'ubuntu economy' in which the state, the markets and the people are all agents, and not patients, in the process of economic growth and development. (shrink)

The development of the endogenous growth model rekindled interest in growth theory. In contrast to the neo-classical model, long-run endogenous growth emerged as an equilibrium outcome, reflecting the behaviour of optimizing agents in the economy. This book brings together a number of contributions in growth theory and macroeconomic dynamics, reflecting these developments and the ongoing debate over the relative merits of neo-classical and endogenous growth models. It focuses on the emergence of three important aspects: (...) First, it develops growth models that extend the underlying theory in different directions. Second, it addresses one of the concerns of the literature on growth and dynamics: the statistical properties of underlying data and the effort to ensure that growth models are consistent with empirical evidence. Third, it discusses the increasingly international focus of macrodynamics and growth theory, an inevitable consequence of the integration of the world economy. (shrink)

In Hong Kong, which is one of the highest GDP per capita cities in the world, the problem of poverty, particularly the housing of the poor, has been exacerbated as economic development has progressed. The received neocapitalistic view is that such poverty is an inevitable price for the economic growth which will eventually benefit everyone. In this essay, I criticize such view by examining how non-inclusive economic development in the past created barriers to inclusive (...) economic development today. Through a comprehensive analysis of the housing problem in Hong Kong, I argue that these barriers, including not only physical constraints such as ownership and the lease of lands, housing prices and public housing policies, but also an ideological constraint adopted and advocated by the rich that regards poverty as a consequence of personal laziness and stupidity rather than a failure of the government, render the promise of the neo-capitalistic equality between rich and poor very difficult if not impossible to attain. I conclude that real equality can be attained only if we regard inclusive development as a necessary component of development from the beginning rather than a remedy for noninclusive development. Keywords : Economic Growth, Inclusive Development, Hong Kong, Housing Problem. (shrink)

Classical economics was oriented towards the advancement of the common interest as defined by the political institutions of the state, whereas neoclassicism is defined in a social and political vacuum. Furthermore, the former related realistically to an excess supply of labour, while the latter assumes full employment. These differences have significant implications for income distribution, accumulation, growth and development. Classical economists advocated free trade to increase domestic productivity and employment at stable or growing real wages. Contemporary globalization recreates (...) the classical surplus labour economy to reduce domestic wage levels through moving domestic production from high to low wage areas around the globe. Free trade becomes necessary so that the goods produced abroad can be imported into capital exporting countries. However, without a corresponding growth of exportables, the trade balance must be adversely affected. Furthermore, adverse changes in income distribution diminish domestic demand for goods. The policy of globalization must become self-defeating. (shrink)

This study maintains that China's system of economic planning tends to mitigate the trade-off between economic growth and equity that has been found to prevail in the early stages of development in most less developed countries. The analysis focuses on the Chinese leadership's attempt to improve economic efficiency by decentralizing economic management without encouraging, as a consequence, increased economic inequality among different regions. By examining the budgetary and planning process, focusing in particular on (...) the fiscal relations between the centre and the far-reaching degree of resource redistribution undertaken by the central government through its control of interprovincial and intersectoral resource transfers. Professor Lardy's analysis highlights the essential features of Chinese economic growth and relates these to the experience of both developing and Soviet-type economies. (shrink)

This work aims to study strategies used in Argentine local development experiences, focussing on industrial design, marketing and entrepreneurship. In order to this purpose, backgrounds are analysed with this approach adding the study of three strategic plans for national and provincial-level that are currently in force. With the analysis of the transport system in the last decade, an accelerated cost increase is evident, resulting in a relatively higher price of distributed products. This situation that was initially perceived as a (...) disadvantage finally set up an opportunity to produce locally. The goal of this paper is to provide tools that contribute to the work shipped by key institutions for local development (public, private and intermediary organisations), and the way these interact with the actors and the territory. In particular, the identification of productive sectors and the selection of goods that can be produced and consumed locally, as a key input for the formulation of projects. (shrink)

Financial crises have become an all-too-common occurrence over the past twenty years, largely as a result of changes in finance brought about by increasing internationalization and integration. As domestic financial systems and economies become more interlinked, weaknesses can significantly impact not only individual economies but also markets, financial intermediaries and economies around the world. This volume addresses the twin objectives of financial development in the context of financial stability and the role of law in supporting both. Financial stability (frequently (...) seen as the avoidance of financial crisis) has become an objective of the international financial architecture as well as individual economies and central banks. At the same time, financial development is now seen to play an important role in economic growth. In both financial stability and financial development, law and related institutions have a central role. (shrink)

The influence of cultural industry competitiveness on economic growth is analyzed by using grey relational degree method. Then, the influence of cultural industry on the three industries is analyzed and compared in the same way. On this basis, further from the cultural industry, the impacts of core layer, outer layer, and related layer on economic growth were compared and analyzed. Finally, the economic growth model is used to measure the impact of investment, labor, and (...) innovation in cultural industry on economic growth. The results show that cultural industry has a great influence on economic growth. The cultural industry has an obvious driving effect on the tertiary industry. The correlative layer of cultural industry has the greatest influence on economic growth. Cultural industry innovation has a huge pulling effect on economic growth. The SPSS software was used to process the data, and the data indicators were screened. Finally, the grey relational degree model was constructed. Then, the improved diamond model was used to select the influential factors of the development of cultural industry, and the main influencing factors were found out through the grey relational degree analysis. This paper analyzes the factors affecting economic benefits and puts forward countermeasures. The results show that it is of great significance to pay attention to the development of cultural manufacturing industry in cultural industry and promote cultural innovation to promote economic growth. (shrink)

Military and defense-related procurement has been an important source of technology development across a broad spectrum of industries that account for an important share of United States industrial production. In this book, the author focuses on six general-purpose technologies: interchangeable parts and mass production; military and commercial aircraft; nuclear energy and electric power; computers and semiconductors; the INTERNET; and the space industries. In each of these industries, technology development would have occurred more slowly, and in some case much (...) more slowly or not at all, in the absence of military and defense-related procurement. The book addresses three questions that have significant implications for the future growth of the United States economy. One is whether changes in the structure of the United States economy and of the defense-industrial base preclude military and defense-related procurement from playing the role in the development of advanced technology in the future, comparable to the role it has played in the past. A second question is whether public support for commercially oriented research and development will become an important source of new general-purpose technologies. A third and more disturbing question is whether a major war, or the threat of major war, will be necessary to mobilize the scientific, technical, and financial resources necessary to induce the development of new general-purpose technologies. When the history of United States technology development in the next half century is written, it will focus on incremental rather than revolutionary changes in both military and commercial technology. It will also be written within the context of slower productivity growth than of the relatively high rates that prevailed in the United States in the 1950s and 1960s or during the information technology bubble that began in the early 1990s. These will impose severe constraints on the capacity of the United States to sustain a global-class military posture and a position of leadership in the global economy. (shrink)

This article examines the means by which Malaysian governments have been relatively successful in pursuing both economic development and social equity. These advances have been remarkable, given Malaysia's history of colonial servitude and racial and ethnic tensions. The authors' examination of government economic and social policies notes the importance of strong political leadership that is committed to creating a national identity through consensus building. In pursuing these social objectives, successive governments have also played an active and transparent (...) role in fostering economic growth and development. However, a number of problems remain as Malaysia continues to follow these social and economic policies. (shrink)

The aim of this paper is to trace how a perverted understanding of the human – of human nature, growth, and well-being – came to form the foundation for classical liberal economic thought and to identify some of the negative consequences of this development. My suggestion is that, in response to the social upheaval of the 16th, 17th, and 18th centuries that would lead to the rise of capitalism and make possible the industrial revolution, moral philosophers applied (...) to humans and to human society mechanistic principles from the highly successful natural sciences in an effort to make sense of a social world that had ceased to make sense. Thus emerged the impoverished view of the human that lies at the foundation of mainstream economic thinking: homo economicus – the human as a rational, utility-optimizing machine, driven by unlimited desires. (shrink)

By a "developed" economy, people roughly mean ones with a high, persistently-growing per-captia income which is not simply based on resource extraction (i.e., oil) or remittances or rentierism — an industrial (or, if there is such a thing, post-industrial) economy which makes most of its participants reasonably and increasingly prosperous. While there are of course differences among them --- the United States is not New Zealand, which is not Belgium, which is not Finland, which is not Japan --- they are (...) all more similar to each other than they are to the vast variety of "undeveloped", "under-developed", or (most optimistically) "developing" economies across the world. (Some people refer to the developed countries as "the North" and the others as "the South"; this drives me up the wall, if only from looking at where China and Australia are on the map.) Economies in the first category tend to stay there; so, sadly, do countries in the second. Development economics is the sub-discipline of economics which attempts to study how economies which have not attained this happy condition can be made to do so, and the factors which hold others back. (shrink)

Financial market and economic growth and development trends can be regarded as an extremely complex system, and the in-depth study and prediction of this complex system has always been the focus of attention of economists and other scholars. Emotion recognition algorithm is a pattern recognition technology that integrates a number of emerging science and technology, and has good non-linear system fitting capabilities. However, using emotion recognition algorithm models to analyze and predict financial market and economic (...) class='Hi'>growth and development trends can yield more accurate prediction results. This article first gives a detailed introduction to the existing financial development and economic growth status and development trend forecasting problems, and then gives a brief overview of the concept of emotion recognition algorithms. Then, it describes the emotion recognition methods, including statistical emotion recognition methods, mixed emotion recognition methods, and emotion recognition methods based on knowledge technology, and conducts in-depth research on the three algorithm models of statistical emotion recognition methods, they are the support vector machine algorithm model, the artificial neural network algorithm model, and the long and short-term memory network algorithm model. Finally, these three algorithm models are applied to the financial market and economic growth and development trend prediction experiments. Experimental results show that the average absolute error of the three algorithms is below 25, which verifies that the emotion recognition algorithm has good operability and feasibility for the prediction of financial market and economic growth and development trends. (shrink)

Corruption is a major problem in many of the world’s developing economies today. World Bank studies put bribery at over $1 trillion per year accounting for up to 12 of the GDP of nations like Nigeria, Kenya and Venezuela. Though largely ignored for many years, interest in world wide corruption has been rekindled by recent corporate scandals in the US and Europe. Corruption in the developing nations is said to result from a number of factors. Mass poverty has been cited (...) as a facilitating condition for corruption just as an inability to manage a sudden upsurge in mineral revenues has been credited with breeding corruption and adventurous government procurement among public officials in countries like Nigeria and Venezuela. Virtually all developing nations that have serious corruption problems also have very limited economic freedom and a very weak enforcement of the rule of law. In such nations, corruption represents a regressive taxation that bears hard on the poor. It has a dampening effect on development and it could result in the production of inferior goods as companies find ways to accommodate under-the-table payments. Finally, corruption is a dangerous threat to the legitimacy of the governments of some of the developing nations themselves. It is suggested that new urgent initiatives are needed to deal with the dangers posed by corruption in the developing economies. They include making the economies of these nations more open by the withdrawal of the government from the productive sector and by the abolition of unnecessarily stringent restrictions on business conduct. The rule of law needs to be strengthened in these nations and those countries like Nigeria and Venezuela should ignore scruples over sovereignty and seek foreign assistance in the management of their oil wealth. Finally, multinationals should be made to disclose all the payments they make in developing nations to such organizations like International Chamber of Commerce or Transparency International where they can be reviewed by anyone interested. (shrink)

Literature on ethical behavior has paid little attention to the mechanism between macro-environmental variables and environmental performance. This study aims at constructing a model to examine the relationships which link cultural values, population growth, economic development, and environmental performance by incorporating the mediating role of education. The multiple linear regression model was employed to test the hypotheses on a 3-year-pooled sample of 51 countries. Empirical results conclude that national culture, economic development, and population growth (...) would significantly influence environmental performance directly. In addition, through the mediating effect of education, population growth and national culture would significantly affect environmental performance indirectly. These findings provide theoretical and managerial implications for constructing the mechanism of cultural values and ethical behavior in general and environmental management in particular. (shrink)

Population ageing is a fact of all advanced economies. Fewer people are born all the while current members live longer. The support which old people have come to depend on, for example through elderly care and pensions, thus becomes increasingly expensive. This accentuates an assurance problem. Although it has been and still is the case that the young are willing to support the currently old, this support is not unconditional. In return they trust that coming generations will support them one (...) day. Historically pro-old welfare state institutions (e.g., pension systems) have offered individuals this assurance: their claim on future generation to support them has been credible simply by positive economic and demographic development. Economic growth has been a blessing for the cooperation between generations necessary to realise old age support. This paper describes this assurance problem in simple game theoretical terms, argues that it has been neglected in historically prominent justifications of pro-old welfare state institutions, and discusses what can be done to preserve trust in times of population ageing and weak economic growth. (shrink)

Sustainable growth is emerging as a normative concept in recent work in economics and environmental philosophy. This paper examines several kinds of growth, seeking to identify a sustainable form which could be adopted as normative for human society. The conceptions of growth expressed in standard economic theory, in the writings of John Dewey, and in population biology, each suggest particular accounts of how the lives of individuals and communities ought to be lived. I argue that, while (...) absolute sustainablity is not possible, the latter two conceptions together suggest a regulative ideal of sustainable growth which is acceptable at the social level, and which encourages the development of genuine community. (shrink)

It might be conjectured that new models of regional economic development, combined with the emerging understanding of multifunctional agriculture, would suggest a new and perhaps more optimistic perspective on the potential of agriculture as an engine of regional economic growth. My purpose here is begin the process of surveying the relevant literature, unraveling the arguments and gleaning evidence from the published empirical record, and drawing-out some implications that may help focus our deliberations over the next few (...) days. (shrink)

The purpose of the study is to investigate the impact of stock market development on economic growth for nine developed European countries. In many countries, the stock market (SM), is considered. one of the crucial elements for promoting sustainable economic growth and development. By analysing data from nine developed European countries over 21 years, from 2000 to 2020, including Germany, the United Kingdom, France, Italy, Spain, the Netherlands, Switzerland, Turkey, and Poland, this study seeks (...) to determine the effect of the stock. market. on economic growth. The years 2021 and 2022 are not included due to the lack of data, mainly as a result of the pandemic period. The dataset, extracted from the World Bank database, is used to generate results by applying different econometric models such as OLS, OLS Robust, Fixed, and the Random Effect, which turned out to be more suitable in this study. According to research, macroeconomic factors such as stock. market development (SMD), and inflation (INF), have a significant positive impact while, domestic credit to the private sector (DC), has a negative significant impact on economic growth, in respective periods and countries. Therefore, new research on this topic could help better understand the stock market’s impact on economic growth, and new conclusions might greatly benefit developed European countries. (shrink)

Ever since Adam Smith, economists have been preoccupied with the puzzle of economic growth. The standard mainstream models of economic growth were and often still are based either on assumptions of diminishing returns on capital with technological innovation or on endogenous dynamics combined with a corresponding technological and institutional setting. An alternative model of economic growth emerged from the Cambridge School of Keynesian economists in the 1950s and 1960s. This model - developed mainly by (...) Luigi Pasinetti - emphasizes the importance of demand, human learning and the growth dynamics of industrial systems. Finally, in the past decade, new mainstream models have emerged incorporating technology or demand-based structural change and extending the notion of balanced growth. This collection of essays reassesses Pasinetti's theory of structural dynamics in the context of these recent developments, with contributions from economists writing in both the mainstream and the Cambridge Keynesian traditions and including Luigi Pasinetti, William Baumol, Geoffrey Harcourt and Nobel laureate Robert Solow. (shrink)

The study aims to measure the link between CSR and economic growth. This study investigates whether CSR expenses shown by the banks are contributing to the sustainability of an emerging economy like India. For this study, CSR spending of 21 commercial banks, on nine development areas of the Indian economy, the human development index of India, and its indicators along with the growth rate of GDP of India and state-wise GDP for the year 2014-2015 to (...) 2017-2018 have been taken as secondary data. The research techniques used are the case analysis method, correlation, and descriptive analysis. The study highlights that CSR activities are more of a myth and a far-reaching possibility in developing nations like India, where most institutions are engrossed in such activities to gain laurels and secure investors from the globe. (shrink)

The contribution of women to China’s economic growth and development cannot be overemphasized. Women play important social, economic, and productive roles in any economy. China remains one of the countries in the world with severe gender inequality and sex ratio at birth (SRB) imbalance. Severe gender inequality and disenfranchisement of girls with abnormally high sex ratios at birth reflect deep-rooted sexism and adversely affect girls’ development. For China to achieve economic growth, women should (...) not be ignored and marginalized so that they can contribute to the country’s growth, but the sex ratio at birth needs to be lowered because only women can contribute to growth. Thus, this study empirically predicts an asymmetric relationship between gender inequality, sex ratio at birth and economic growth, using NARDL model over the period 1980–2020. The NARDL results show that increases in gender inequality and sex ratio at birth significantly reduce economic growth in both the short and long term, while reductions in gender inequality and sex ratio at birth significantly boost economic growth in both the short and long term. Moreover, the results show the significant contribution of female labor force participation and female education (secondary and higher education) to economic growth. However, infant mortality rate significantly reduced economic growth. Strategically, the study recommends equal opportunities for women in employment, education, health, economics, and politics to reduce gender disparities and thereby promote sustainable economic growth in China. Moreover, policymakers should introduce new population policy to stabilize the sex ratio at birth, thereby promoting China’s long-term economic growth. (shrink)

The question that motivates this article has been a matter of dispute: Is it possible to combine perpetual economic growth and longterm environmental sustainability based on the premise that economic growth can be fully decoupled from negative environmental impacts? The article addresses this question from the position of critical realism. An empirical study focusing on the housing sector is conducted, indicating that housing stock growth and economic growth have been, at best, weakly decoupled (...) from environmental impacts. In the long run, it seems implausible that the degree of decoupling can be increased at a rate sufficient to compensate for continual growth in the volume of housing stock. A further elaboration of the topic at an ontological level leads to the conclusion that continual economic growth and long-term environmental sustainability can hardly be combined. Content Type Journal Article Category Article Pages 438-461 DOI 10.1558/jcr.v11i4.438 Authors Jin Xue, Department of Development and Planning, Aalborg University Journal Journal of Critical Realism Online ISSN 1572-5138 Print ISSN 1476-7430 Journal Volume Volume 11 Journal Issue Volume 11, Number 4 / 2012. (shrink)

The phenomenon of global warming suggests that today’s dominant economic paradigm is bumping up against physical and biological limits. As will likely become ever clearer in coming decades, endlessly growing populations, consumption and economic activity are incompatible with human happiness, the flourishing of other species, and maintaining the basic ecosystem services on which these depend. The world’s peoples need to shift to an economic paradigm focused on providing sufficient resources for a limited number of people, rather than (...) ever more resources for ever more people. For at least 2500 years, philosophers East and West, religious and secular, have claimed that wealth is not the key to happiness and that goodness is better than greatness. This talk argues that philosophers should redouble these efforts and join environmentalists in working to convince our societies to grow up and develop nobler, less materialistic, more sustainable goals and definitions of human flourishing as the necessary and the only alternative to trying to shoehorn a few more decades of economic growth into already overstressed ecological systems. (shrink)

Environmentalists have long claimed it is unjust for the state to prioritize economic interests over environmental ones by sacrificing ecosystem integrity and functioning to unsustainably expand the economy. Recently, mainstream environmentalists have moved to a more conciliatory approach highlighting the common ground between environmental and economic goals. They today claim processes of economic growth and development can be made just if they become green. This paper explores the question: should states pursue “green growth”? Although (...) some critics claim green growth is impossible, I maintain it is. I theorize three conditions that must be met for an instance of growth to be truly considered green. That a development project is green, however, does not automatically ensure it is just. Justice considerations remain in adjudicating the competing interests of different groups of stakeholders. I then examine four reasonable approaches to resolving controversies over the pursuit of green growth: cost-benefit analysis, sufficientarianism, democracy, and pluralism. I conclude a liberal pluralist form of decision-making is best for ensuring fairness. (shrink)

Technology's contribution to economic growth and competitiveness has been the subject of vigorous debate in recent years. This book demonstrates the importance of a historical perspective in understanding the role of technological innovation in the economy. The authors examine key episodes and institutions in the development of the U.S. research system and in the development of the research systems of other industrial economies. They argue that the large potential contributions of economics to the understanding of technology (...) and economic growth have been constrained by the narrow theoretical framework employed within neoclassical economies. A richer framework, they believe, will support a more fruitful dialogue among economists, policymakers, and managers on the organization of public and private institutions for innovation. David Mowery is Associate Professor of Business and Public Policy at the School of Business Administration, University of California, Berkeley. Nathan S. Rosenberg is Fairleigh Dickinson Professor of Economics at Stanford University. He is the author of Inside the Black Box: Technology and Economics. (shrink)

The coronavirus has affected almost all sectors of the economy. Some areas have suffered and declined, while others have developed and benefited from the pandemic. Due to the COVID-19 pandemic, economies around the world have experienced a downturn. The effects of the pandemic will undoubtedly reverberate around the world for decades to come. The global threat of the COVID-19 epidemic has greatly affected people, families, communities and businesses. Countries have begun implementing a wide range of measures both within and between (...) countries to combat the humanitarian and commercial impact of COVID-19. The effects of the worldwide epidemic and the emergency situations to be taken in this context were felt more and more in business life. Considering that the epidemic progressed very quickly, it was observed that it caused constant negative pressure on business and stock markets. This situation is interpreted as a harbinger of a global crisis. On the other hand, issues such as disruptions in supply and distribution channels, closure of workplaces and ports, disruption of customs processes, lack of manpower and decrease in consumption, operations in the stock market continued in a negative direction day by day. The consistent exposure of COVID-19 around the world, especially in developing economies, suggests that developing economies are seen as a major driver of macroeconomic instability compared to developed countries. After the initiation of economic reforms, with the increase of national income, aggregate production and employment, the trend of increasing economic volatility in developing economies has also been observed. Considering all this, it can be noted that the topic of the article is quite relevant. In the article, the negative impact of the pandemic on the economy of the world, as well as Azerbaijan, is examined in a broad aspect, and the methods of eliminating the damage caused by it are determined. (shrink)

In this article, I address a controversial aspect of Rawls’s treatment of the question of justice between generations: how the parties in the original position could be motivated to select Rawls’s preferred principle of intergenerational savings, which he dubs the just savings principle. I focus on the explanation found in his later work, where he proposes that the correct savings principle is the principle that any generation would have wanted preceding generations to have followed. By expanding upon this explanation, I (...) respond to the objection that this explanation disregards the perspective of the first generation. I demonstrate that this objection ceases to be a concern when a proper account of the parties’ reasoning is developed. What is notable about the explanation I defend is that it relies on the parties adopting maximax – not maximin – as a rule for rational decision making. Having established this intermediary conclusion, I depart with Rawls and consider what savings principle the parties would choose if given more options. Ultimately, I argue that the parties would select a principle that Rawls would have undoubtedly rejected if presented to him at face value. This is because the principle of savings I argue would be selected requires continual economic growth over generations to increase upwards indefinitely – a conclusion Rawls is explicitly trying to avoid in his theory of justice. (shrink)

Introduction. At present, the issues of the Far East accelerated economic development remain in the focus of the state attention. Among the key mechanisms of state policy is the formation of advanced development territories (ADT). The article sets the task of studying the impact of the institutional measures taken on the welfare and the population’s life quality in the Far Eastern territories. Particular attention is paid to studying migration processes and analyzing the economic activity of the (...) Far East population. The purpose of the article is to study the effects of implementing mechanisms for accelerated economic growth, as well as assess their impact on the life quality in the Far East regions. Methods. The authors use the following methods: economic and mathematical modeling, computational and analytical methods, comparative and spatial analysis. Scientific novelty of the research. For a comprehensive assessment of the regional well-being, the authors propose to supplement the multiplicative model based on the A. Sen’s extended welfare function with a composite ecological index. It takes into account the ecological conditions of human life, which are an important aspect of well-being. The authors obtain ecologically adjusted indicators of well-being for the eastern regions of the Russian Federation and study their dynamics, as well as the relations with the data on the population’s migration activity during the formation of new institutions of advanced development in the East of the country. Results. The authors find out that most of the Far Eastern territories are still lagging behind the average Russian level in socio-economic development. The results of assessing the level of well-being of regions on the basis of a multiplicative model without taking into account the environmental factor show that the most prosperous areas are raw materials-based territories. It is shown that the role of environmental factors in the life quality in the Far Eastern territories of Russia is very significant - the ecologically adjusted level of well-being is noticeably lower than the indicator that does not take into account this aspect of well-being. The authors reveal that socio-economically disadvantaged regions with difficult natural and climatic living conditions have very high rates of migration outflow. Their coefficients of migration loss reflect the presence of a crisis in economic development, which has been increasing in recent years. An analysis of trends in economic activity shows a relationship between the dynamics of the number of employed and the implementation of ADT projects in the Far Eastern territories. Conclusions. The conclusion is that the measures taken by the state for the advanced economic development of the eastern territories of the country have not yet had a noticeable positive impact on the welfare and life quality in the Far East regions. (shrink)

Due to G-7 countries' commitment to sustaining United Nations Sustainable Development Goal 8, which focuses on sustainable economic growth, there is a need to investigate the impact of tax revenue and institutional quality on economic growth, considering the role of artificial intelligence (AI) in the G-7 countries from 2012 to 2022. Cross-Sectional Augmented Autoregressive Distributed Lag (CS-ARDL) technique is used to analyze the data. The study's findings indicate a long-run equilibrium relationship among the variables under (...) examination. The causality results can be categorized as bidirectional, unidirectional, or indicating no causality. Based on the CS-ARDL results, the study recommends that G-7 governments and policymakers prioritize and strengthen the integration of AI into their institutions to stimulate growth in both the short- and long-term. However, the study cautions against overlooking the interaction between AI and tax revenue, as it did not demonstrate support for economic growth. While the interaction between AI and institutional quality shows potential for contributing to growth, it is crucial to implement robust measures to mitigate any potential negative effects that may arise from AI's interaction with tax systems. Therefore, the study suggests the development of AI-friendly tax policies within the G-7 countries, considering the nascent nature of the AI sector/industry. (shrink)

A twenty‐person working group convened to discuss the ethical and policy considerations of the controversial intervention called “growth attenuation,” and if possible to develop practical guidance for health professionals. A consensus proved elusive, but most of the members did reach a compromise.

This history of theories and theorists of economic growth elucidates the economic theory, economic history, and public policy observations of the renowned scholar W. W. Rostow. Looking at the economic growth theories of the classic economists up to 1870, Rostow compares Hume and Adam Smith, Malthus and Ricardo, and J.S. Mill and Karl Marx. He then examines the period 1870-1939 and its economic theorists, including Schumpeter, Colin Clark, Kuznets, and Harrod, and surveys the (...) three forms of growth analysis in the postwar era: formal models, statistical morphology, and development theories. This authoritative overview also includes an agenda of unresolved problems in growth analysis and a description of the five major tasks statesmen will confront over the next several generations. (shrink)

The characterization of the world of the ancient Greek city states as relatively poor and economically static has been refuted by recent advances in Greek economic history. The Greek world grew dramatically, compared to other premodern societies, both in population and per capita consumption from the age of Homer to that of Aristotle. By the fourth century BCE the city-state ecology was densely populated, and median consumption was well above bare subsistence. Athenian income inequality can be roughly measured using (...) income and population estimates from late fourth century BCE. This paper argues that, at least in Athens, economic growth was accompanied by historically low levels of income inequality. Both economic growth and low inequality are explained by the development of citizen-centered political institutions. Growth, inequality, and institutions were important parts of the historical context in which Plato and Aristotle wrote. Attending to that context may elucidate some aspects of Greek political philosophy. (shrink)

It is generally assumed that sustainable development and economic growth are compatible objectives. Because this assumption has been left unspecified, the debate on sustainability and growth has remained vague and confusing. Attempts at specification not only involve clarification of the interrelation of the two concepts, but also, we argue, require a philosophical approach in which the concepts of sustainability and economic growth are analyzed in the context of our frame of reference. We suggest that (...) if the notion of sustainability is to be taken seriously, the conflicting conceptual and normative orientations between the two concepts require the reconsideration of our frame of reference. (shrink)

Rawls theorizes principles of justice as defining a ‘pact of reconciliation’ between diverse conceptions of the good. What does fulfillment of this pact entail when reasonable pluralism is recognized as having an environmental dimension? Fair acknowledgment of the plurality of citizens’ relationships with the natural world challenges the neutrality of aims conventionally used to justify ecocide, including the promotion of economic growth and development. This paper explores how ecocide constitutes a violation of equal basic liberties and state (...) neutrality as per Rawlsian political liberalism. It further considers hard cases in which ecocide is enacted for meeting citizens’ basic needs. (shrink)

Human capital and ICT have a significant role in determining human development. The impacts of ICT and human capital on green growth and environmental sustainability should be explored for sustainable economic development. This research contributes to the literature on the role of ICTs and human capital in the determination of green growth and environmental performance. Based on time-series data 1990–2019, the study intends to investigate the impact of ICTs and human capital on environmental and green (...) growth performance for China. The study reports that ICTs tend to reduce CO2 emissions and improve green growth in the long-run. However, education reduces CO2 emissions in the long-run but does not produce any significant impact on green growth in the long-run. It is suggested that government should invest in environmental efficiency and environmental technologies simultaneously with human capital that could significantly contribute to pollution reduction. Lastly, policies to increase human capital should be implemented simultaneously with policies to promote ICTs contribution in order to confirm green growth and environmental protection. (shrink)

Collective bargaining is the main vehicle for labour worldwide to negotiate wages, benefits, retirement policies, training and other terms of working with management in both the public and private sectors. Labour economists have long been active in modelling the relations between collective bargaining agreements, labour markets and social welfare conditions. This book presents a theoretical model of unions which offers a unified treatment of the centralisation of bargaining, the credibility of labour contracts, the unionisation of labour markets and the relative (...) bargaining power of the union. Tapio Palokangas develops the microfoundations of bargaining and examines collective bargaining interacting with public policy, investment and growth, and international trade and specialisation. In conclusion Professor Palokangas challenges the commonly held view that collective bargaining has a negative impact on economics welfare, and argues that with the existence of market failure, collective bargaining can be welfare enhancing. (shrink)

Malthus's Essay on the Principle of Population has for the past two centuries been a constant source of inspiration and debate for scholars working on relationships between population and economy in a historical perspective. This book sets a new standard in this active and influential field of research. The contributors go beyond the conventional European and North American geographical boundaries, bringing out new empirical findings and developing new arguments. The volume is divided into three parts. The first part takes up (...) classical issues -- the 'positive' and the 'preventive' checks and their determinants -- raised by Malthus himself, and examines the issues against fresh evidence from Europe, America, and Asia. These issues are also themes of the second part, which is devoted to short-term fluctuations in mortality and fertility in relation to prices, wages, and other economic indicators. The final set of chapters is a coherent collection of technically sophisticated articles from an on-going international joint project concerned with how households respond to economic stress in different economic, social, and cultural settings, in traditional China, Japan, Sweden, Belgium, and Italy. With a brief, but well-organized introduction, this collection of scholarly essays offers both demographers and economic historians a wealth of exciting findings and stimulating insights. (shrink)

Malthus's Essay on the Principle of Population has for the past two centuries been a constant source of inspiration and debate for scholars working on relationships between population and economy in a historical perspective. This book sets a new standard in this active and influential field of research. The contributors go beyond the conventional European and North American geographical boundaries, bringing out new empirical findings and developing new arguments. The volume is divided into three parts. The first part takes up (...) classical issues -- the 'positive' and the 'preventive' checks and their determinants -- raised by Malthus himself, and examines the issues against fresh evidence from Europe, America, and Asia. These issues are also themes of the second part, which is devoted to short-term fluctuations in mortality and fertility in relation to prices, wages, and other economic indicators. The final set of chapters is a coherent collection of technically sophisticated articles from an on-going international joint project concerned with how households respond to economic stress in different economic, social, and cultural settings, in traditional China, Japan, Sweden, Belgium, and Italy. With a brief, but well-organized introduction, this collection of scholarly essays offers both demographers and economic historians a wealth of exciting findings and stimulating insights. (shrink)

Abstract Twenty years ago, Tibor Scitovsky questioned the assumption, embedded in neoclassical economics, that human happiness will be augmented if the level of consumption either rises or becomes more uniform over time. Evidence from the 1990?1993 World Values Survey suggests that his doubts were well?founded: although economic gains apparently make a major contribution to subjective well?being as one moves from societies at the subsistence level to those with moderate levels of economic development, further economic growth (...) seems to have little or no impact on subjective well?being. This transition seems to reflect a basic cultural change that results in the diminishing marginal utility of economic growth. (shrink)

Combining the fields of international trade theory, economic development, and economic growth, this text provides an advanced exposition suitable for graduate students as well as researchers at all levels. It combines mathematical rigour with an exceptional breadth of approaches, including institutions, history, and comparative economics. Existing research is exposited and evaluated, and numerous new results are included. The central themes of economic inequality, within and between nations, are discussed, as is convergence, or the reduction of (...) inequality. Distinctive features of the volume include a radical re-evaluation of the theoretical basis of the economic convergence model proposed by Barro and Sala-i-Martin, a new generalization of the standard HOS model, and a new concept, the economic environment, designed to model the effects of institutions in a more analytical and micro-founded manner is discussed. Uniquely, the real world examples included focus not only on countries participating fully in globalized trade, like China, but also those countries and regions failing to fully participate, specifically the Arab world and sub-Saharan Africa. The text concludes with a discussion of current issues in world economic governance, particularly the IMF and limitations of the Washington consensus, showing that some criticism fails to confront fundamental difficulties. (shrink)

Previous research studies of traffic networks are mainly based on planar networks and less considered the influence of multilayer networks, which illustrate and represent different appropriate urban traffic modes. Development of rail and road networks is inseparable from the development of a prosperous urban area; thus, research on multilayer networks has scientific potential and fulfils a real need. In this paper, a framework of complex network based integrated multilayer urban growth and optimisation model is proposed, to analyse (...) the complex relationships between the traffic network structure, the population growth, and the urban land-use. The innovation of this paper is the combination of the traffic complex multilayer networks and the “Four Step Model”. With the multiobjective, multilayer network coevolution and optimisation model, a more efficient traffic network layout was generated based on different land-use, population density, and travel speed scenarios. Then, this paper has proved that the proposed CNIMUGOM can save the traffic network construction investment, reduce the travel cost, make the urban traffic network more efficient, and decrease the total traffic flow amount. This research has connected the recent complex multilayer network related study and traditional urban economic model based study. The findings of the study afford to improve the current land-use and traffic integrated models and can provide traffic network planning suggestions for urban agglomeration development. (shrink)

China's domestic labor market has limited demand for tertiary graduates due to an unbalanced industrial structure, with a weak contribution to economic performance over the past decade. This study estimates the asymmetric effects of higher education progress (highly educated employed workforce), higher education utilization (highly educated unemployed workforce), and the separate effects of higher education utilization interactions with high-tech industries on economic growth in China from 1980 to 2020. Using a Nonlinear Autoregressive Distributed Lag (NARDL) model, this (...) study finds that the expansion of higher education progress (the employed workforce with higher education) promotes economic growth, while contraction of higher education progress (employed workforce with higher education) reduces economic growth. Likewise, an increase in higher education utilization (the unemployed labor force with higher education) suppresses economic growth, while a decline in the higher education utilization (the unemployed labor force with higher education) promotes economic growth. The study also found that the expansion of high-tech industries and government spending on education significantly stimulate economic growth. The moderating role of higher education utilization (unemployed labor force with higher education) in the impact of high-tech industries on economic growth is significantly positive. This study strategically proposes that China's higher-educated unemployed labor force can be adjusted to high-tech industries, which need to be developed equally in all regions. Moreover, the country is required to invest more in higher education and the development of high technological industries across all regions, thus may lead to higher economic growth. (shrink)

Both Antonio Genovesi and Ferdinando Galiani devised strategies for Neapolitan economic development, which they realised was essential for preserving its recently acquired independent statehood. In order to avoid any socially disruptive effects they considered how economic processes changed the human mind. Both thinkers grounded their political visions on foreign trade on highly sophisticated ideas of the nature of self-interest. In spite of the similar characters of their projects, the political thought of Genovesi and Galiani has never been (...) subject to serious comparison. Instead the two thinkers have tended to be portrayed as opposite characters with highly divergent political leanings. It is argued here that this view is historically questionable and itself a product of a distorting canonisation process that was set in motion in the second half of the eighteenth century. Ironically, comparing the moral philosophies and economic ideas of Genovesi and Galiani, a picture emerges that inverts the myth that started at the end of the eighteenth century and that until this day has determined accounts of the early Neapolitan Enlightenment. (shrink)