The purpose of the study is to determine the concept of the axial line of the swarm of the global economy in the three-dimensional space of the economic indices EPI, BLI, CPI and to construct mathematical expressions that determine the shape of this line based on statistical data on the world economy. To construct the axial line the median points of the EPI-groups of the global economy were used. In the paper we discuss certain assumptions about the asymptotic behavior (...) of the axial line at small and large values of the CPI. Scientific novelty of research lies in the explicit construction of the axial line of the global economy. The existence and shape of this line reveal as a result some fundamental trend in the world economy, statistically linking at the level of EPI-groups the state of society, the measure of the state's social orientation and economic productivity. (shrink)

This paper explores the correlation between economic indicators and economic development, focusing on common economic indicators such as GDP, Purchasing Power Parity (PPP), economic growth rate, and unemployment rate. It compares and analyzes data from Taiwan, Japan, South Korea, the United States, and China. The study finds that a single economic indicator cannot fully reflect a country's economic development and that multiple indicators must be considered to assess the economic situation (...) more accurately. The paper also discusses differences in economic growth among countries, the impact of income disparity and unemployment rates on economic development, and emphasizes the importance of PPP in cross-country comparisons. Finally, it points out that in addition to GDP, factors such as income distribution and social welfare should also be considered when evaluating economic development. -/- Keywords: Economic Indicators, Gross Domestic Product (GDP), Purchasing Power Parity (PPP), Economic Growth Rate, Unemployment Rate. (shrink)

Theoretical justification for the Business Ethics Index (BEI) from the emerging economics of trust literature is discussed. The BEI results for 2007, 2008, and 2009 are presented. While the Personal/Past BEI component shows no significant difference from the previous years, the Vicarious/Past component shows a dramatic drop to levels previously never recorded.However, when it came to the perception of the future business ethical behavior, respondents were significantly more optimistic than in previous measurements.This finding was more than a little surprising given (...) the depth of the economic crisis. A possible explanation is that consumers hopefully perceived the economic crisis as already abating and/or that at least the worst was over. (shrink)

"Canada, like other industrial nations, is undergoing widespread social change at a faster pace than ever before. Many features of our basic institutions are being transformed and some of the values on which they were based are being weakened or swept away to be replaced by others. As this Royal Commission indicated in its first report, Challenges and Choices, the scope and implications of these changes call "into question basic assumptions, values, and institutions at every level of society, from the (...) shop floor to the cabinet room, to the international economic system," but while many values change, others endure."--. (shrink)

This article explores the extent to which income inequality and income mobility—both considered indicators of economic inequality and conditions of formal regulatory institutions —facilitate or constrain the emergence of social entrepreneurship. Using 77,983 individual-level responses obtained from the Global Entrepreneurship Monitor survey of 26 countries, and supplementing with country-level data obtained from the Global Competitiveness Report of the World Economic Forum, our results from multilevel analyses demonstrate that country-level income inequality increases the likelihood of individual-level engagement in (...) social entrepreneurship, while income mobility decreases this likelihood. Further, income mobility negatively moderates the influence of income inequality on social entrepreneurship, such that the condition of low income mobility and high income inequality is a stronger predictor of social entrepreneurship. We discuss implications and limitations of our study, and we suggest avenues for future research. (shrink)

Claims about the potential of free software to reform the production and distribution of software are routinely countered by skepticism that the free software community fails to engage the pragmatic and economic ‘realities’ of a software industry. We argue to the contrary that contemporary business and economic trends definitively demonstrate the financial viability of an economy based on free software. But the argument for free software derives its true normative weight from social justice considerations: the evaluation of the (...) basis for a software economy should be guided by consideration of the social and cultural states which are the ultimate goals of any economic arrangement. That is, the software economy should be evaluated in light of its ability to provide justice. We conclude with a discussion of possible avenues for reform. (shrink)

Current debates between behavioural and orthodox economists indicate that the role and epistemological status of first principles is a particularly pressing problem in economics. As an alleged paragon of extreme apriorism, the methodology of Austrian economics in Mises’ tradition is often dismissed as untenable in the light of modern philosophy. In particular, the defence of the so-called fundamental axiom of praxeology—“Man acts.”—by means of pure intuition is almost unanimously rejected. However, in recently resurfacing debates, the extremeness of Mises’ epistemological position (...) has been called into question. Rather than directly engaging in these exegetical discussions, this paper aims to substantiate the possibility and plausibility of conventionalist defences of praxeology per se. The proposed shift includes settling for an analytic fundamental axiom and acknowledging the prima facie tenability of other research programs than praxeology. Since conventionalist praxeology is only moderately aprioristic, mainstream economists and philosophers might be more likely to engage in fruitful discussions with those Austrian scholars who elaborate pragmatic arguments for praxeology instead of invoking pure intuition. (shrink)

The approaching ways in religious phenomenon quantitative studies are, most of the times, based only on the evolution of adherent flows and population structure from a religious point of view. In this pape, an integrated statistical indicators system will be designed. The main purpose of the system is to enhance the quality and coherence of the religious phenomenon. The most important indicators from the integrated system are: context indicators (political, economical, socio-cultural, demographical), basic indicators, level and (...) structure indicators, participation indicators, resource indicators (spiritual, human and pecuniary), quality, efficiency and outcomes (religious freedom, social connections, international relationships). Designing a complete, coherent system of indicators is necessary for a correct approach in studying the religious phenomenon. Statistical indicators can supply quantitative data for the operational description of the religious phenomenon. The indicators’ system makes possible not only a descriptive analysis but also some advanced statistical techniques (e.g. regression and correlation method). (shrink)

Economics takes an individualistic approach to human behaviour. This is reflected in the use of ‘contingent valuation’ surveys to conduct cost benefit analysis for economic policy evaluation. An individual's valuation of a policy is assumed to be unaffected by the burdens it places on others. We report a survey experiment to test this supposition in the context of climate change policy. Willingness to pay for climate change mitigation was higher when richer individuals were to bear higher costs than when, (...) as is usual, no explicit information was provided about cost distribution. This result is inconsistent with the usual interpretation of contingent valuation data. It also suggests that the data may be biased indicators of policy acceptance. Additional survey questions suggest that a collective mode of reasoning is common. (shrink)

This study discusses the impact of different economic indicators on economic stability, including honest leadership, improved infrastructure, revenue generation, and CPEC taking into account the double mediating role of environmental sustainability and sustainable development, while considering the latest COVID-19 situation. This study adopted primary data collection methods and obtained data from the employees of CPEC by using questionnaires and smart-PLS for analysis purposes. The results revealed that honest leadership, improved infrastructure, revenue generation, and CPEC have a positive (...) nexus with economic stability. Despite the severe impact of COVID-19 on the country’s economy, the economic corridor plays a vital role in stabilizing the state’s economy and supports all those related to this phenomenal project either directly or indirectly. (shrink)

Economics: Beyond the Millennium contains articles by leading authorities in various fields of economic theory and econometrics, each of whom gives an account of the current state of the art in their own field and indicate the direction that they think it will take in the next ten years. The fields covered are grouped into three categories: the microfoundations of macroeconomics, where Malinvaud evaluates the theory of resource allocation and Hildenbrand examines the empirical content of economic thories; markets (...) and and organizations, where both Gabszewicz and D'Aspremont et al. look at imperfect competition and general equilibrium, Scotchmer and Thiess consider spatial economics, Ponssard the future of managerial economics, while Van Damme looks at the next stage of game theory; and econometrics, where Gourieroux reviews econometric modelling in general, Maravall looks at time series, Lubrand and Bauwens examine Bayesian analysis, and Blundell looks at the rapidly expanding area of microeconometrics. (shrink)

The prime objective of this study is to discuss the economic impact of the COVID-19 crisis concerning Pakistan and globally across South Asian developing countries. It also demonstrates those economic indicators through which the economic performance of the countries is influenced considering the prospective global economic costs of COVID-19 under different scenarios. The study systematically reviewed the literature on historical pandemic crises and the most recent Covid-19 fallout economic disorder in South Asian countries. Considering (...) the history of human civilization, there are varied instances of severe epidemics that are caused by numerous viruses. It is observed that the prevailing outbreak of COVID-19 has eventually affected large scale manufacturing, service sectors and arose supply side constraint to an extent. On the contrary, GDP and consumption declined sharply. Furthermore, sudden loss of service sector jobs and the rise in food prices have created an economic crisis for developing countries of South Asia. The study attempts to discuss the policy responses given by the World Bank, International Monetary Fund, Asian Development Bank, The State Bank of Pakistan, and the Ministry of finance, Pakistan encountered due to the deteriorating international environment, fiscal stress, and difficulties in financial liquidity markets and provides relevant policies for the better prospect of Pakistan's economy after comparing it with other South Asian countries affected by this pandemic vulnerabilities. (shrink)

In recent years, the long-standing questions of why, how, and which farm families continue farming in the face of ongoing changes have increasingly been studied through the resilience lens. While this body of work is providing updated and novel insights, two limitations, a focus on macro-level challenges faced by the farm operation and a mismatch between the scale of challenges and resilience measures, likely limit our understanding of the factors at play. We use the example of medical economic vulnerability, (...) a micro-level challenge traditionally confined to the household sphere of the agri-family system, as a way to call attention to these limitations. Focusing on United States farm households, we assess: To what extent are they experiencing medical economic vulnerability when using objective and subjective outcome measures? Which demographic and farm characteristics are associated with experiencing medical economic vulnerability? What is the association between institutional arrangements and medical economic vulnerability? Our analysis of over 900 surveys coupled with a conceptual framework merging complementary insights from three bodies of literature revealed seemingly large differences in the prevalence of medical economic vulnerability across the objective and subjective measures with the subjective measure indicating a general sentiment of medical economic vulnerability in a majority of respondents. Conversely, limited variations were noted in who experiences medical vulnerability on the basis of demographic and farm characteristics, with stronger associations being connected to the households’ health insurance arrangements. We conclude with three implications of our findings for the farm resilience literature. (shrink)

This article discusses the relationship between the post-2008 global economic crisis and trauma journalism through a quantitative study of reporters covering austerity’s everyday manifestations and examines the effects on the media professionals involved. The findings indicate that journalists who cover economic crisis-related incidents suffer specific symptoms of trauma. As such, the study re-conceptualizes the economic crisis as primarily affective for media workers, it establishes a direct correlation between the economic crisis and emotional trauma, and provides an (...) insight into the kind of trauma that stems from covering austerity and its impact on society. A regression analysis of symptoms indicates trauma journalism as an emerging field of research into the economic crisis. (shrink)

In view of the numerous accounting and corporate scandals associated with various forms of moral misconduct and the recent financial crisis, economics and business programs are often accused of actively contributing to the amoral decision making of their graduates. It is argued that theories and ideas taught at universities engender moral misbehavior among some managers, as these theories mainly focus on the primacy of profit-maximization and typically neglect the ethical and moral dimensions of decision making. To investigate this criticism, two (...) overlapping effects must be disentangled: the self-selection effect and the treatment effect. Drawing on the concept of moral judgment competence, we empirically examine this question with a sample of 1773 bachelor’s and 501 master’s students. Our results reveal that there is neither a self-selection nor a treatment effect for economics and business studies. Moreover, our results indicate that—regardless of the course of studies—university education in general does not seem to foster students’ moral development. (shrink)

The objective of this research is to conduct a comparative analysis of the two models of growth and development that were applied in Peru over the past six decades (1961-2021). The objective is to conduct a comparative analysis of the Import Substitution Model (ISM) and the Liberal Model (LM), to determine which of these models has demonstrated superior performance in terms of economic growth and social welfare for the country. In this instance, the documentary and systematic review of the (...) material obtained from both physical and virtual libraries was employed as a method. Consequently, a variety of economic indicators have been examined, including the primary indicator of economic growth, gross domestic product (GDP), to account for the effects of inflation and ensure the accuracy of the data. Furthermore, the principal social indicators have been examined and contrasted to gauge the nation's social well-being. The findings of the study demonstrate that the ML has demonstrably outstripped the MSI in terms of economic growth and the enhancement of social welfare for Peruvian society over the past three decades. However, it would be erroneous to assume that this model has entirely resolved the country's economic and social challenges. (shrink)

Different applications of synthetic biology are alike in that their possible negative consequences are highly uncertain, potentially catastrophic, and perhaps irreversible; therefore, they are also alike in that public attitudes about them are fertile ground for behavioral economic phenomena. Findings from behavioral economics suggest that people may not respond to such applications according to the normal rules of economic evaluation, by which the value of an outcome is multiplied by the mathematical probability that the outcome will occur. Possibly, (...) then, synthetic biology applications challenge the normative postulates of the standard approach, too.I want to first consider how some of the phenomena described by behavioral economists—and behavioral scientists more broadly—might affect people's perceptions of the uncertainties associated with synthetic biology. My analysis will be far from complete, however, because behavioral economics is essentially the study of human behavior, and thus its reach is potentially vast and its development longstanding and ongoing. Nonetheless, I hope to give an indicative perspective on how some aspects of behavioral economics might affect the assessment and perceived acceptability of synthetic biology. I will then consider the issue of agency. Should policy‐makers respect people's reactions to synthetic biology when those reactions are known to be driven by behavioral economic phenomena rather than following the normative postulates of rational choice theory? Or should policy‐makers dismiss these reactions as inherently biased? I will argue that the normative force of these human reactions (probably) depends on phenomenon and context. (shrink)

Using 2003 Asian Barometer Survey study data, this paper examines the economic voting model in the 2002 presidential election in South Korea. The core emphasis of the paper is on an investigation of the relative effects of different dimensions/scopes of economic evaluations on voting behavior, namely whether one form of assessment (e.g., pocketbook vs. sociotropic) can have similar consequences for electoral participation as others. The findings indicate that the overall economy is salient for Koreans to shape their political (...) choices. In other words, voting behavior in Korea depends on how she or he thinks the national economy has been for the past five years. Also found is that voters’ perceptions of their own personal financial situations did not matter much as a predictor of voter choice. (shrink)

The main purpose of this study is to understand the demographic, personal and situational determining factors leading to academic misconduct among undergraduate students by comparatively analyzing the differences among Economics and Business students and other major students. Two thousand four hundred ninety-two undergraduate students from different Portuguese Public Universities answered a questionnaire regarding their propensity to commit academic fraud, 640 of whom were Economics and Business students. Results concluded that Economics and Business students can be distinguished from others regarding the (...) likelihood of copying from the other Major students. Younger students admit more readily to the possibility of cheating than older students. Results indicate a greater probability of acceptance of dishonest practices outside the area of Economics and Management and a greater probability of condemnation of improper practices by students of Economics and Management. This indicates that students of Economics and Management are aware that their behavior is incorrect and unacceptable; peer-pressure and the learning process itself constitute the main justifications provided by Economics and Business students for their fraudulent actions. Implications for this practice are discussed. (shrink)

Purpose: This article aims to highlight key indicators of residents' quality of life in a specific contemporary building in Kruja, Albania. -/- Design/Method/Approach: A questionnaire with 30 questions was prepared for the inhabitance, and the Binary or Tobit probabilistic models were taken into consideration as part of the methodology, to conclude. The study will further analyze the implications of the inhabitants and their behavior in a specific contemporary building in the city of Kruja. It was examined the statistical significance (...) of each variable (questions) in the models elaborated with EViews 8 software. The stable models that are associated with the “Log-likelihood” statistics were statistically significant at a significance level of p < 5%, or with 95% confidence, based on the model tests. -/- Findings: The study concluded that the most statistically significant quality of life indicators part of the questionnaire is related to the typology of the apartments, methods of cooling during summer, present living conditions, apartment improvement, apartment orientation, and time spent in the living room. Furthermore, the study reveals that most of the quality-of-life indicators (part of the questionnaire) are not statistically important, so they will not be considered part of the models created in the article. The study reveals that increasing the living space and improving orientation is crucial to enhance the satisfaction of apartment inhabitants. When apartment sizes increase and orientation is improved, residents are more likely to opt for fans over air conditioners to reduce electricity costs and avoid installing additional cooling facilities during summer. They believe that better living conditions require larger apartments, additional water supply, increased electrical costs, and more time spent in the living room. The inhabitants also emphasize the importance of reducing moisture levels, decreasing window opening frequency, and increasing time spent with family. Interestingly, a one-degree improvement in summer cooling methods (e.g., switching from air blowers to air conditioning) corresponds to a one-degree improvement in winter heating methods (e.g., switching from gas to electricity), leading to a heightened need for clean electric heating. Overall, the study emphasizes the importance of meeting the physical and spatial needs of the residents to enhance their overall satisfaction and quality of life. Urban policies significantly impact housing affordability, quality, transport systems, environmental sustainability, and social equity, affecting overall living standards and economic growth. Cities must create well-designed policies that consider residents' needs and study findings to ensure sustainable development and citizen welfare. -/- Theoretical Implications: Gujarati’s (Basic Economics) theory was developed in the article. -/- Practical Implications: This study will serve as an indicator to analyze the further improvements that might occur in the specific building (not just in the city of Kruja), considering the main quality of life indicators. -/- Originality/Value: The article will serve as a base for further analysis of resident’s behavior and their social impact in the community in order to be aware of their needs for further developments in the construction field. -/- Research Limitations/Future Research: The findings depend profoundly on the type of building the residents are living in. The research stream that can be inspired by the research is strongly related to mathematical regression models, statistics, and probability. -/- Paper Type: Empirical . (shrink)

This study attempts to analyse socio-economic segregation in three metropolitan areas of Lithuania. Indexes of segregation, dissimilarity and isolation were analysed trying to reveal different aspects of socio-spatial segregation in the urban regions, which experienced major shifts in their occupational structure over the last decades. The main occupational groups were used as a proxy for the socio-economic status. Data from 2001 and 2011 censuses was used to investigate segregation processes in the metropolitan areas and their main structural zones (...) – urban cores and suburbs. Notwithstanding major economic and social changes of the post-communist society, all measured indexes indicated low levels of segregation and limited changes during the analysed period. The results showed that the fastest increase of segregation was in the capital city. It was also revealed that the rich­est groups of population are the most segregated, and they tend to live more and more separately from other groups. The differences in the concentration of high and low status occupational groups and the changes in those patterns were illustrated in the maps. (shrink)

This article concerns challenges arising from the development of economic globalization as the so-called “creator of a new world order“ and its tendency to deteriorate the foundation of a global order in terms of social justice, solidarity, and human dignity. As main point of referral functions, the report of the “Commission Stiglitz, Sen and Fitoussi cs“ on the Measurement of Economic Performance and Social Progress that refers to the European Commission's strategy of development, acknowledges the need for these (...) values. On behalf of this reflection, this article is based on the recent outcomes of the exploration of these social quality issues in a recent published book by the Foundation on Social Quality. The article argues that indicators are needed in order to understand the effects of societal changes in response to the current economic globalization, which increases inequality and the fragmentation of the labor market. (shrink)

The notion of economic violence has long been recognized in the work of Johan Galtung and others. The work of Thomas Pogge and the field of global justice have addressed the impact of economic disparities between the Global North and the Global South, and their impact on human well-being, and social and economic development more broadly. Patents, publication in scholarly journals, academic collaborations, access to academic journals, and so forth do not on their face seem to be (...) closely tied to indicators of human well-being. However, disparities in knowledge production, including access to academic resources and publication venues, are tied directly or indirectly to infrastructure, food security, health and mortality rates, employment, and gender equity. (shrink)

The article investigates the feasibility of district heating in a small town adjacent to a Kraft pulp mill in eastern Canada. A detailed heat demand analysis is performed for all buildings using a geographical information system and archived data provided by the municipality. The study shows that the entire space heating requirement of the town can be supplied by steam from the mill, even during exceptional peak demands. A screening test based on load density indicators, however, reveals that a (...) district heating serving the entire town would probably not be economically viable. An economic analysis of partial districts show that a district covering about half of the town can be economically viable with a proper balance between the price of the steam sold by the mill to the district operator and the cost of the energy sold to customers. (shrink)

For much economics research, ethics committee approval is not required. This is seen by some as indicating that there are no ethical issues in economics research. However, ethical research requires more than simply meeting regulatory requirements. If economics research has an impact on perceptions and resulting decisions, then there may be concerns about the nature of the research and its impact. There are a number of arguments that could be raised as to why economics does not describe the real world. (...) What we see is shaped by how we see, so it is important to consider context. This paper considers the simplification that is an inevitable aspect of research. Implications for economic approaches are described, recognising that criticisms can apply to heterodox as well as mainstream approaches. Subjectivity is then discussed, questioning the traditional positive-normative distinction. An additional section relates to the application of economics. It focuses on the significance of rhetoric and the differing roles played by economists, each of which may have their own obligations and expectations. A theme throughout the paper is that of groups and group membership shaping perceptions and behaviour. The paper concludes that there are ethical issues in relation to both how and why economists undertake their work. Read the Open Peer Discussion on this paper » Read the discussion of this paper on the WEA's Ethics conference ». (shrink)

Does economic globalization create a “race to the bottom” or a “race to the top” in labor rights practices? Despite significant research on the possible impact of economic globalization on labor conditions, little consensus exists as to whether and what forms of economic openness might help or undermine labor rights. In this study, we illustrate the significance of considering the two distinct processes of de facto and de jure globalization. We argue that whereas de facto globalization in (...) the form of trade and financial transactions is likely to result in worse labor rights practices, de jure globalization that entails regulations to facilitate these transactions is likely to have a positive effect on labor conditions. Combining time-series, cross-national data on labor rights with data on economic globalization, we find significant evidence of the divergent effects of de facto and de jure globalization on labor rights practices. Results also indicate that the labor rights effects of de facto and de jure globalization are stronger for trade than financial globalization. We further show that the effects of economic globalization apply to both collective and substantive labor rights practices. (shrink)

The “embeddedness” of economic life in social relations has become a productive analytical principle and the basis of a penetrating critique of economic orthodoxy. But this critique raises another important, social and historical question, of how the economy became “disembedded” in the first place – how the multitude of transactions designated (somewhat arbitrarily) as economic were abstracted from the rest of social life and reconstituted as an object, the economy, which behaves according to its own logic. This (...) article investigates the social sources of some innovations in economic thought that contributed to the emergence of the economy, particularly statistical indicators and mechanical models. By examining the redefinitions of the object of economic research developed by Irving Fisher and Wesley Mitchell in the 1890s and the first decades of the twentieth century, I argue that the abstraction of the economy from the remainder of social life was a strategy linked to the position of these innovators within the field of economics, conceived as a social structure. Possessing a specialized scientific cultural capital, but lacking upper class background, contacts, and dispositions that characterized the founders of academic economics, Fisher and Mitchell elaborated new definitions of their discipline's object of study, and a new type of economic expertise. (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)

With the advancement of China’s economic transformation, the impact of economic policy uncertainty on family firms has become increasingly significant. The “familism” of family firms makes them more motivated to maintain family harmony, pursue innovative activities, and the long-term development of enterprises when faced with economic policy uncertainty. In this paper, we employed the data of listed Chinese family firms from 2010 to 2018 to analyze the impact of economic policy uncertainty on family business innovation activities, (...) analyze the inherent characteristics of family firm innovation, and find the path that enables the innovative activities of family firms and provides a valuable experience for the innovation of private enterprises in economic policy uncertainty. We provide evidence that economic policy uncertainty positively relates to family firm innovation. Moreover, the relationship is affected by factors such as directors’ executive background and access to state-owned equity. Further analysis indicates that economic policy uncertainty can promote family firms’ innovation activities by improving their risk-taking, internal capital market circulation, and reducing political connections. (shrink)

That the maximization of quality-adjusted life years violates concerns for fairness is well known. One approach to face this issue is to elicit fairness preferences of the public empirically and to incorporate the corresponding equity weights into cost-utility analysis (CUA). It is thereby sought to encounter the objections by means of an axiological modification while leaving the value-maximizing framework of CUA intact. Based on the work of Lübbe (2005, 2009a, 2009b, 2010, forthcoming), this paper questions this strategy and scrutinizes the (...) concomitant assumptions concerning the nature of prioritization decisions. Empirical studies indicate that these premises are in fact unwarranted. People chose a certain resource allocation because they perceive it as a fair way to treat the persons concerned, not because it maximizes something valuable, and it is questionable if prioritization decision can be represented as value-maximizing choices at all. This reflection on the fundamental distinction between deontological and consequentialist reasoning bears general implications for the scope of ‘economic imperialism.’. (shrink)

Beauty pageants are ubiquitous around the world, and their importance in many cultures is indisputable. This paper empirically examines those factors that contribute to beauty pageant success in a cross-national setting. Our analysis pays particular attention to the role of market liberalism, i.e., economic freedom, in the process. The results indicate that nations with higher economic freedom scores are underrepresented among Miss Universe semifinalists after controlling for other relevant determinants.

Intellectual property has traditionally been a matter for the legal professions, but with the shift to evidence-based policy, the global economic upheaval, and the advent of the digital age, intellectual property is increasingly informed by economic perspectives. This book is a comprehensive, critical analysis of economic interpretations of intellectual property, written for researchers, practitioners and policymakers. It analyses the interface between economics, finance, accountancy and intellectual property law. Commencing with a critical analysis of the economics of innovation, (...) law, industrial organisation and welfare, the book then critiques the economics of specific intellectual property rights, including copyright, patents, trade marks, geographical indications and design rights. It further assesses the interaction between economics, IP and competition. Finally, it examines why, when and how IP generates value, reviewing contemporary approaches to valuation and accounting, and the emerging use of IP to facilitate business finance. This analytical text offers readers a better understanding of IP's contribution to macro- and microeconomics, as well as insights that inform the debate on evidence-based IP policy. (shrink)

Intellectual property has traditionally been a matter for the legal professions, but with the shift to evidence-based policy, the global economic upheaval, and the advent of the digital age, intellectual property is increasingly informed by economic perspectives. This book provides a clear and practical guide to economic approaches to intellectual property, written for a legal audience. It introduces basic concepts in economics and finance that inform the law of intellectual property. Topics discussed offer additional perspectives include the (...) economics of innovation, development, crime, law, industrial organisation and welfare. Next, it considers the economics of specific intellectual property rights, including copyright, patents, trademarks, trade secrets, geographical indicator and design rights, as well as a section on competition. Finally, a section on applied approaches to the valuation of IP will help readers to understand the use of these topics in practice.This practical text offers readers a better understanding of economic debates in intellectual property, as well as tools to enhance their ability to critique evidence-based policy. (shrink)

Research in the cognitive sciences indicates that metaphors significantly shape perceptions and approaches to problem solving. With this in mind, this essay argues that it is problematic for ethicists that mainstream economics and other social scientific literature relies on naturalistic metaphors to describe markets. These imply an inaccurate picture of economic phenomena and rhetorically frame many solutions to problems such as inequality as interventionist. This essay proposes that religious ethicists may find resources for avoiding this conceptual hazard in emerging (...) fields of heterodox economics that are attentive to the role of culture and human agency in shaping markets. It introduces feminist, behavioral, institutional, and Austrian economics in particular and highlights some of the specific approaches to inequality adopted in these fields. It then suggests that engaging heterodox perspectives more generally may help ethicists keep in view the full complexity and social nature of the economic problems they analyze. (shrink)

Australia and India have had few reasons in the past to develop systematic and significant levels of economic engagement. This was due to very different positions they have held in the world-system since the Second World War. De-colonization, the fall of the British Empire, the weak status of the British Commonwealth, and the realpolitik of the Cold War saw India and Australia located on different parts of the geo-political and economic world map with small demographic and cultural flows, (...) and insignificant economic trade. Both countries developed similar economic policy regimes that were essentially state-led nationalist projects of economic development with concomitant policies of import-substitution, local industry-subsidization, highly-regulated financial systems, and high tariffs. The last quarter of the 20th century saw a radical revision of both nations’ economic strategies, with Australia moving first to drop many of its trade barriers in the 1970s and ’80s. It is now one of the most open economies in the world. India’s liberalization programme commenced much later in 1991 but nonetheless has had a dramatic impact on its economic fortunes and growing status in the world economy. With these changes there are increasing opportunities for bilateral trade and a greater economic enmeshment in regional engagements and alignments in the Indian Ocean and in wider Asian fora. One significant indicator of change in growing Australia-India economic engagement is to look at Foreign Direct Investment (hereafter FDI). Currently, the movement of FDI between these two countries is still not very large but has a strong potential to grow over the short to medium term. This paper looks at the future prospect of this growth and asserts that, by engaging in areas of comparative advantage, it will benefit both national economies. Moreover, economic flows are also indicators of great social and cultural traffic. The movement of FDI between the two countries will not only encourage greater flow of peoples, especially outward migration from India to Australia, but also trigger more Australian expatriates living in India (from a very low base). Greater economic trade promises more cultural exchange. (shrink)

This study aims to examine the relationship between public financial management and indicators of well-being among 29 Economic Co-operation and Development (OECD) countries using a balanced panel dataset over the period between 2005 and 2019. This study used a matrix of seven proxy measures of public financial management, which works as an integrated financial system to improve the objective quality of well-being measured by employment, education level, productivity, and wages. Using the generalised method of moments, the estimator's results, (...) indicate that higher government revenues, expenses (% of GDP) lead to lower well-being while the higher net lending /net borrowing, cost of business start-up procedures, and adjusted gross savings (% of GNI) lead to increase well-being measured by spending on education. The higher government revenues, regulatory quality, government effectiveness, and higher net lending /net borrowing lead to improved well-being, while the higher cost of business start-up procedures (% of GNI per capita) leads to lower well-being measured by wages. The higher government revenues, government effectiveness, and higher net lending/net borrowing lead to increased well-being. In contrast, the higher expense (% of GDP) leads to lower well-being measured by productivity labor. The higher government revenues, government effectiveness, regulatory quality, net lending /net borrowing and adjusted gross savings lead to lower well-being, while the higher cost of business start-up procedures leads to increased well-being measured by employment rates. The OECD countries should prepare fiscal policies to ensure the sustainability of public finances in the long run and identify emergency response mechanisms to overcome the challenges of improving the objective quality of well-being. (shrink)

Following corporate accounting scandals there has been an increasing concern with understanding the factors that undermine the occupational values of accounting professionals, which emphasize self-transcendence in the pursuit of public good and openness to change in the pursuit of autonomy and creativity. Prior studies have demonstrated that these values are undermined in economically rationalized organizational environments. Our study advances this research by examining how accounting professionals’ occupational values are influenced by the economic rationalization of countries where they are employed. (...) While economic rationalization of countries is recognized as a key macrostructural, social-level influence on individual values, the theory is divided regarding its normative effects. While economic rationalization may decrease the priority of occupational values by transforming professional action in accordance with the calculative logic of economic rationality, it can also increase the priority of these values by providing resources necessary for freeing professionals from the material constraints of survival. We test these divergent insights using the European Social Survey data for 28 countries. Our results indicate that economic rationalization decrease accountants’ occupational values beyond the effects of cultural values and work-related characteristics. (shrink)

All our previous political experience, and especially, of course, the experience of Eastern Europe and Central Asia, offers little hope that democracy can coexist with the centralized allocation of economic resources. Indeed, simple observation suggests that a market economy with private property rights is a necessary, although not sufficient, condition for the existence of a democratic political regime. And this accords fully with the political theory of liberalism, which emphasizes that private rights, both civil and economic, be protected (...) and secure. At the same time, our previous experience also indicates that market economies are more successful than centrally planned economies not only in producing, but also in distributing, both private and collective goods. This economic experienee is supported by neoclassical economic theory, which treats clearly defined and secure rights to private property as essential to a market economy. (shrink)

The past 15 years of exceptionally severe water scarcity in the Islamic Republic of Iran have resulted in the desertification and salinity of formerly arable lands, drying out of Iranian lakes and rivers, and quickly shrinking groundwater resources, while water demand has risen, along with the size of the Iranian population, of which over 70% lives in urban areas now. We have aimed to discover the causes of water scarcity in the IR Iran and evaluated its social and economic (...) impacts. First, we computed the Weighted Anomaly Standardized Precipitation (WASP) Index for the period of 1979-2014. To illustrate the social impact of water scarcity, we analyzed the current water risk for the twenty most populous Iranian cities, by employing the composite index approach to translate hydrological data into comprehensible indicators of water related risks, and made a projection for 2020-2030, by modeling potential changes in the future demand and supply of water. To demonstrate the economic impact of water scarcity, we evaluated the overall agricultural contribution to the IR Iran GDP. We have found that the 1999 severe drought in the IR Iran commenced a period of unusually dry conditions that is still ongoing. The rapidly growing Iranian urban populations presently experience a medium to extremely high overall water risk, with extremely high baseline water stress that, in part, is due to the lack of upstream protected lands. The relationship between baseline water stress and drought severity has been determined as weak, confirming that other factors than drought are equally or more important contributors to the existing water risk. Our projection calculations indicate that Iranian urban populations will continue to experience an extremely high water stress for the coming decade. Due to the fast growth of these populations as well as considerable rise of value added to the IR Iran GDP by other sectors of the national economy, the contribution of agricultural production to the national GDP has declined from about 25% to under 10% (although its total yield has risen considerably) during the past 30 years. This decrease has been directly proportional to the increased foreign food imports, dependency on the IR Iran oil exports and reduction in the non-oil exports. The main causes of water scarcity in the IR Iran appear to be due to climatic factors, insufficient environmental protection, and over-exploitation and mismanagement of water resources, especially by the agricultural sector. In conclusion, our study proposes anti-wasting water management action plan that recommends shifting the IR Iran government response to water scarcity from reactive survival strategies to proactive crisis prevention, with emphasis on safeguarding, monitoring, early warning, and effective step-by-step preparedness and readiness, and by laterally integrating water management between all levels of the IR Iran government, including local, regional and national, for a sustainable, resilient and prosperous economy of the Islamic Republic of Iran now and in the future. (shrink)

The outputs of economic forecasting—predictions for national economic indicators such as GDP, unemployment rates and inflation—are all highly visible. The production of these forecasts is a much more private affair, however, typically being thought of as the work of individual forecasters or forecast teams using their economic model to produce a forecast that is then made public. This conception over-emphasises the individual and the technical whilst silencing the broader social context through which economic forecasters develop (...) the expertise that is essential for the credibility of their predictions. In particular, economic forecasts are given meaning and fine-tuned through the social and institutional networks that give forecasters access to the expertise of a heterogeneous mix of academics, policy-makers and business people. Within these broader groups, individual forecasters often create private forecast ‘clubs’, where subscribers have privileged access to the expertise of the economist, but where the forecasters also have privileged access to their clients’ own expert knowledge. In examining these aspects of the forecasters’ work I show that the visible and audible activities of modelling and forecasting are made possible and plausible by virtue of the modeller’s invisible interaction with a wider network.Keywords: Expertise; Economic forecasting; Periodic table of expertise; Judgement. (shrink)

Not all intellectual property rights grant the right to exclude that is indicative of “property rules,” as that term was used by Guido Calabresi and A. Douglas Melamed in their seminal article. Some intellectual property rights are “liability rules,” in which the right holder has an entitlement to compensation for use of the protected invention, not a right to preclude the use. Although patent laws normally grant a right to exclude others from use of the protected invention as a default, (...) most countries’ laws allow the government to convert the patent property rule into a liability rule through a compulsory license. It has been noted, for example, that by the end of the 1950s, the U.S. had issued compulsory licenses covering 40 to 50 thousand patents, including substantial portions of the patent portfolios of AT&T, General Electric, IBM, and Xerox. The U.S. Supreme Court recently expressed a willingness to accept liability rules over injunctions in some patent infringement cases. (shrink)

Efforts to recruit and retain farmers have traditionally supported the farm business through a focus on access to land, capital, and business skills. While these efforts are critical, a small body of work indicates that these may be insufficient because they rarely account for the social and economic needs of farm households and how the (in)ability to meet these needs interacts with the development and economic viability of the farm enterprise. Social and economic needs include, but are (...) not limited to access to health insurance and health care, childcare, adequate household and retirement income, affordable housing, and food security. This article introduces a symposium intended to shed light on these underappreciated needs and how they connect to the farm enterprise. We contend that a greater understanding of farm households’ lived realities meeting their social and economic needs could lead to a paradigm shift in how we understand and support farm families’ resilience. We set the stage for the eight articles in this symposium in two ways. First, we present the theoretical and empirical reasons why considering household-level needs is crucial when working towards supporting the agricultural sector. Second, we review the literature on farm households’ social and economic needs. We then thematically summarize the key insights from the eight articles. Despite variations in topics studied, research designs, and geographical contexts, we note a clear pattern in what the authors see as the implications of their findings. Namely, they reaffirm the need to challenge the traditional view that separates household needs from farm enterprise activities and outcomes. Their collective call for stronger social and agricultural programs and policies is noteworthy and may in part be connected to the structural underpinnings of the challenges meeting social and economic needs highlighted across the articles. (shrink)

In the world of social media, people are free to choose names based on their preferences, which may potentially reflect certain levels of uniqueness. In this study, we have attempted to explore the possibility of applying the ecological theory of individualism/collectivism in the context of social media. We, thus, examined provincial variations in the uniqueness of nicknames among more than 13 million Sina Weibo users. Initially, the nickname uniqueness indicator was set at the provincial level. It was found that the (...) uniqueness of nicknames was the highest in provinces with temperate climates, for example Guangdong, and the lowest in provinces with demanding climate, such as Ningxia. Regression analysis results partially supported that inhabitants in provinces with temperate climate were more likely to use unique nicknames on social media compared to those from harsh climate. This finding is significant in terms of ecology. (shrink)

Every individual in this world seeks to achieve a healthy, wealthy, secured and blissful life as suggested by Maslow’ Need Hierarchy. A regression analysis taking Life Satisfaction Index (as obtained from World Database of Happiness between 1995–2005) as the dependent variable indicated rule of law, voice and accountability, regularity authority as well as economic freedom indicators (as obtained from Heritage Foundation Database, 1995–2006) as very significant predictors. In this article, an attempt has been made to understand this tridimensional (...) concept of happiness and combining them to arrive at a Composite Index of Happiness. Efforts have also been made to evaluate performance of various nations in their persistency to achieve these dimensions of happiness. Most studies have been either in direction of Subjective Well-being or Developmental Well-being. This article has been in an effort to combine both the factors and incorporating age-old values and virtues required for reaching higher realm of lasting peace, tranquility and happiness for one and all. The study shows that mental happiness has significant positive correlation with materialistic and spiritualistic happiness, perhaps for being the intermediary step, but materialistic has no significant correlation with spiritualistic happiness. (shrink)