Economics

The present essay aims to account for F.A. Hayek's oft-noted 'turn' away from technical economics to concerns of a more philosophical nature. In particular, the paper seeks an explanatory principle that reconciles various elements of both continuity and discontinuity in Hayek's intellectual development, especially with respect to the evolution of his arguments concerning economic fluctuations. The essay uncovers such an explanatory principle in Hayek's own methodology of sciences of complex phenomena. According to this principle, an inquirer who confronts phenomena too (...) complex for adequate explanation on the basis of current knowledge must move to a more general, albeit less testable, explanation. This is precisely what occurred in the evolution of Hayek's thought concerning trade cycles. The concluding section considers the implications of the argument for the extensive secondary literature on Hayek's 'transformation'. (shrink)

The WTO Dispute Settlement System (DSS) has been the object of many studies in politics, law, and economics focusing on institutional design problems. This paper contributes to such studies by accounting for the argumentative nature and sophisticated features of the DSS through a philosophical analysis of the procedures through which it is articulated. Jürgen Habermas's discourse theory is used as a hermeneutic device to disentangle the types of ‘orientations’ (compromise, consensus, and mutual understanding) pertaining to DSS procedures. We show that (...) these latter are oriented primarily to put the parties in a position to reach mutual understanding. Such an orientation is no mere idiosyncrasy of the DSS but is the only one consistently conducive to the WTO's general aims, in response to the various types of disputes that may arise between its Members. Before closing, we bring our procedural considerations to bear on the reform proposals of the DSS. (shrink)

Body and Soul, the infinite dualism of existenz.

the study of ants and insects com understand human behaviour and discourse, his politics and ways do keep alive some dreams that can come true.

This article critically evaluates Itzhak Gilboa, Andrew Postlewaite, Larry Samuelson, and David Schmeidler’s account of economic models. First, it gives a selective overview of their argument, highlighting its emphasis on similarity and their oversight of the role of idealizations in economics. Second, it proposes a sketch of an account of models as arguments and argumentative devices. This account not only sheds light on Gilboa et al.’s approach, including its shortcomings, but also identifies key challenges in model-based inference, suggesting a fresh (...) perspective on the uses of models in economics for diverse objectives. (shrink)

This paper proposes that the resurgence of geographic factors in the study of uneven development is not due simply to the recurrent nature of intellectual fashions, nor necessarily because arguments that rely on geographic factors are less simplistic than before, nor because they avoid racialist, imperialistic, and deterministic forms they sometimes took in the past. Rather, this paper argues that geographic factors have been turned to once again because they are an indispensable part of explanation, playing a special role that (...) has not been properly understood, a role especially crucial for the explanation of the inherently spatial questions that development studies seek to address. The paper is made up of two sections and an appendix. The first section discusses why geographic factors are necessary for explanations of uneven development with a brief example from the ‘institutions versus geography’ debate. The second section discusses why the reflexive rejection by social scientists of geographic and environmental factors is misguided, with a separate note on geography and geographers. The ideas in this paper were in part arrived at inductively while surveying instances where social scientists in some way attempt to account for real-world locations/distributions of social phenomena (as opposed to discussing a social theory or process aspatially or with its distribution taken as a starting point). A number of these are included with discussion as an appendix. (shrink)

The richer you are, the less equally rich or richer people. The richest is only one (=unique). Maximization of richness or leisure (=classic utility), maximizes the uniqueness (=improbability) that can be maximized also by: extreme sport, suicide, tattoo, count of views... The richest seem unique as the poorest, but the rich can easily become poor, while the poor can hardly get rich. So the aim of maximization reflects IQ and options. Few options increase irrationality, regardless of IQ. I also present (...) the law of values' equality, Utility of Suicide, motivation to support the better, and overview the economics as such. Presented as PhD thesis at CERGE-EI, 2000, exhibited in Holland Park, W8 6LU, 2013, presented at conferences in Santorini 2016, Daejon 2016, Adelaide 2016. (shrink)

To support my Phd theses and results of my grant research in 1999, I asked 1) prominent chemist Antonín Holý, author of substances to treat hepatitis and HIV, about the indivisibility of the art and science (published in Slovak Narodna Obroda and Czech blisty,cz), 2) the distinguished economist William Baumol about the alternative activities (published in Slovak Nove Slovo, Czech Respekt and blisty.cz), 3) Nobel Laureate Clive Granger about the significance of the economics (published in 2004 in Czech weekly Tyden). (...) The interviews were exhibited in Holland Park, W8 6LU, The Ice House between 18. Oct - 3. Nov. 2013. (shrink)

Does AI conform to humans, or will we conform to AI? An ethical evaluation of AI-intensive companies will allow investors to knowledgeably participate in the decision. The evaluation is built from nine performance indicators that can be analyzed and scored to reflect a technology’s human-centering. When summed, the scores convert into objective investment guidance. The strategy of incorporating ethics into financial decisions will be recognizable to participants in environmental, social, and governance investing, however, this paper argues that conventional ESG frameworks (...) are inadequate for AI-intensive companies. To fully account for contemporary technology, the following categories of evaluation will be developed and featured as vital investing criteria: autonomy, dignity, privacy, performance. With these priorities established, the larger goal is a model for humanitarian investing in AI-intensive companies that is intellectually robust, manageable for analysts, useful for portfolio managers, and credible for investors. (shrink)

This is the first section of a five part essay dealing with economics from the perspective of Ernst Cassirer's cultural philosophy. In this first section, I try to demonstrate how the human concern with meaning is distorted in our commercial society into a purely economic sense of reality that displaces other forms of meaning. This distortion and displacement are at the heart of the social, cognitive and spiritual dysfunctions that currently plague us. The "Leverage of Meaning" will prepare the ground (...) for the formulation of the economic as a symbolic form in order to hopefully find some guidance in Cassirer's thought for restoring economy to its rightful cultural function. (shrink)

The Nobel Prize-winning economist Robert Shiller published an article in the American Economic Review in 20171 and a book in 20192 , both carrying the term “narrative economics.”.

The simulation hypothesis suggests that we live in a computer simulation. That notion has attracted significant scholarly and popular interest. This article explores the simulation hypothesis from a business perspective. Due to the lack of a name for a universe consistent with the simulation hypothesis, we propose the term simuverse. We argue that if we live in a simulation, there must be a business justification. Therefore, we ask: If we live in a simuverse, what is its business model? We identify (...) and explore business model scenarios, such as simuverse as a project, service, or platform. We also explore business model pathways and risk management issues. The article contributes to the simulation hypothesis literature and is the first to provide a business model perspective on the simulation hypothesis. The article discusses theoretical and practical implications and identifies opportunities for future research related to sustainability, digital transformation, and Artificial Intelligence (AI). (shrink)

We review the recently proposed universal concept of dynamic complexity and its new mathematics based on the unreduced interaction problem solution. We then consider its progress-bringing applications at various levels of complex world dynamics, including complex-dynamical nanometal physics and living condensed matter, unreduced nanobiosystem dynamics and the integral medicine concept, causally complete management of complex economical and social dynamics, and the ensuing concept of truly sustainable world governance.

(This is one of the essays to be included in a book examining the causes of day-to-day strife in the populations of modern democracies vying to live and assert the freedoms promised to them by systems of governance supposed and expected to represent them.) "The artisan of old, the artist, the researcher, the developer, and the scientist today have this in common, that in refining, perfecting and pushing the boundaries of their respective crafts, they cannot achieve satisfaction or adequately perform (...) without simultaneously and progressively adapting, re-configuring, developing, and continuously changing the techniques and approaches they employ together with the tools and parameters for gauging actual success within the realm that only rigorous acquaintance, imaginative freedom, cross-functional, multifaceted learning, and distributive interaction may allow.". (shrink)

În ultimii ani, s-au dezvoltat rapid noi tehnologii informaționale și de comunicare, astfel încât în centrul dezbaterilor științifice, politice și economice din ultima perioadă a stat apariția și dezvoltarea Societății Informaționale, generatoare de noi oportunități de muncă dar și de schimbări esențiale în ceea ce privește natura muncii și modul de lucru, schimbări comparabile cu cele petrecute în revoluția industrială. În acest context, telelucrul (telemunca) a devenit domeniu strategic din punct de vedere teoretic și practic.

This paper reviews factors influencing Vietnamese youth’s adoption of Fintech, including technology access, perceived usefulness, government support, and financial literacy. While the Vietnamese government has promoted Fintech expansion through financial inclusion strategies and supportive regulations, gaps in financial education remain. Youth engagement with Fintech is shaped by ease of use, user innovativeness, and social influence, though financial risk concerns limit adoption. For sustained growth, focused financial literacy programs and regulatory improvements are essential to unlock Fintech’s potential for economic development and (...) financial inclusion among Vietnamese youth. (shrink)

There are long-standing doubts about whether data from subjective scales—for instance, self-reports of happiness—are cardinally comparable. It is unclear how to assess whether these doubts are justified without first addressing two unresolved theoretical questions: how do people interpret subjective scales? Which assumptions are required for cardinal comparability? This paper offers answers to both. It proposes an explanation for scale interpretation derived from philosophy of language and game theory. In short: conversation is a cooperative endeavour governed by various maxims (Grice 1989); (...) because subjective scales are vague and individuals want to make themselves understood, scale interpretation is a search for a focal point (Schelling 1960). A specific focal point it hypothesised; if this hypothesis is correct, subjective data will be cardinally comparable. Four individually necessary and jointly sufficient conditions for cardinal comparability are specified. The paper then argues this hypothesis can be empirically be tested, makes an initial attempt to do so using subjective well-being data, and concludes it is supported. Numerous areas for further research are identified including, at the end of the paper, how certain tests could be used to ‘correct’ subjective data if they are not cardinal. (shrink)

We call for a change-of-attitude towards reviews of scientific literature. We begin with an acknowledgement of reviews as pathways for the advancement of our scientific understanding of reality. The significance of the scientific struggle propelling the putting together of pieces of knowledge into parts of a cohesive body of understanding is recognized, and yet undervalued, especially in empirical sciences. Here we propose a nudge, which is prefacing the insights gained in reviewing the literature with: 'Our review reveals' (or an equivalent (...) phrase), that can bring about the desired cultural shift in the practice of science. The resulting elevation of the status of reviews to that of original findings would also bring about the desirable smoothening of the undesirable schism between theorists and experimentalists. (shrink)

Ist die Begrenzung von staatlichen Ausgaben und Haushaltsdefiziten wirklich im Sinne der Generationengerechtigkeit? Wer begreift, wie unser Geldsystem tatsächlich funktioniert, muss diese Frage eindeutig und vehement verneinen.

Ludwig von Mises’s methodological apriorism is frequently attributed to the broader Austrian School of economics, of which, of course, Mises was a prominent member. However, there is considerable controversy concerning the meaning of Mises’s various attempts to justify his apriorism. There are prima facie inconsistencies within and across Mises’s methodological writings that engender massive confusion in the secondary literature. This confusion is aggravated by the fact that Mises’s apriorism cannot be straightforwardly interpreted as an artifact of his historical milieu. Indeed, (...) the two prevailing families of interpretation both treat Mises’s apriorism as radically anachronistic, albeit in different senses. According to “extreme” interpretations, Mises’s apriorism reflects an epistemology several decades, if not centuries, beyond its expiration date. According to “moderate” interpretations, however, Mises’s apriorism anticipates ideas that would not appear in the epistemological literature for several decades to come. Finally, there is evidence to suggest that Mises’s actual methodological beliefs are not reflected in his writings, that Mises either obfuscated or exaggerated his methodological position, for whatever reasons, making it seem more radical than it was in fact. I conclude that we have no idea what justification Mises actually intended when he asserted the a priori nature of the fundamental propositions of economics. If this is right, then, whatever method(s) they follow, Austrian economists cannot (deliberately) follow Mises’s apriorism. (shrink)

Economic policy decisions require comparisons of the gains and losses from policy choices to different people. If those gains can be valued in monetary terms, than all that is needed is a comparison of the value of income to different persons, which can be weights in cost-benefit analysis. An objective comparison of the value of income to different people has been long sought but never found. I propose that when money to be allocated is controlled by a group of people (...) with equal control over that money, then a hypothetical auction for transfers of income between people can produce a collective judgment about the value of income that provides suitable weights, and is morally defensible in cases where the decision is made by the group collectively, e.g. when making government policy choices. I provide a method for calculating such weights from observed choices about distributing income, and discuss several desirable properties that they have. (shrink)

In this paper, I list a number of commonly cited negative effects of high or rising levels of income inequality and examine the literature in order to assess the statistical and empirical evidence in favor of or against the presence and/or strength of those negative effects. Given the prevalence of the topic of income inequality in contemporary political, economic and social discussions, it's important to have a good understanding of the effects of income inequality and to be able to identify (...) effects that are or are not supported by strong statistical evidence. Such an understanding will also help to improve policies intended to diminish income inequality or to mitigate its effects (such as, for example, progressive taxation or education subsidies). -/- Given the size of the literature, this overview is far from complete. However, it does manage to identify certain negative effects which have a strong factual basis and which vindicate some of the often strongly expressed concerns about income inequality. At the same time, however, the paper identifies other commonly cited effects for which there is no strong evidence or for which the evidence is contradictory. -/- I focus on measurable harms resulting from income inequality and leave aside possible objections of a moral or philosophical nature, although I do mention the latter briefly. (shrink)

There is traditionally a division of labor between economics and economic history, the task of economic history being that of studying the evolving constraints of economic mechanisms. Recent theorizing on endogenous structural change challenges this view: if structural change is endogenous to economic mechanisms, any strict division of labor between causal analysis and structural analysis breaks down. Rather such views call for an integration of causal and structural analysis. This paper looks for such a methodology, noting especially the contributions made (...) by two Swedish economists, Johan Åkerman (1896-1982) and Erik Dahmén (1916-2005). With evolutionary, Marxian, Hayekian and critical realist contributions, the paper examines notions of endogenous structural change with the aim of expounding how the notion can be thought in terms of underlying mechanisms to aid such structural analysis. The findings of endogenous mechanisms underlying structural change are crystallized into a mathematical model and a simple methodological framework. (shrink)

The Snooks/Panov curve is discussed, concerning the economic history of human societies as energy transduction systems; a first formulization is proposed. World system energetics falls into the scientific context of the mathematics of planet earth & sustainability, futurizing the energy wave patterns of the global village.

The application of quantum wave theory to the physics of monetary and socio-economic systems is a methodical novelty; these collected papers do document the research process into the workings of the monetary quantum on economic production.

The physical properties of money can better be formulated via the methodical tool of quantum monetary science or monetary quantum theory; this research abstract compiles the key findings.

This study aimed to analyze the role of job satisfaction and transformation leadership for employees’ commitment to organizational change. Based on a survey sample of 381 employees in post-merger enterprises in retail and pharmaceutical sector and a linear regression model. The results revealed that Transformational leadership was associated positively and significantly with Affective Commitment (β = .42, p < .000), Normative Commitment (β = .32, p < .000), and Continuance Commitment (β = .27, p < .000); Job satisfaction was associated (...) positively and significantly with Affective Commitment (β = .24, p < .000) and Normative Commitment (β = .30, p < .000) among employees’ to organizational change. The results of this study provide a foundation of theory and practice for organizational changes that can efficiently exploit the human resource for the development in the next period. (shrink)

As the current COVID-19 pandemic lingers on with its fallout agonizing several economies on the globe, a number of policy instruments have been summoned by governments to cope with the looming recession. Among those instruments is the contentious “helicopter money”, which has received the endorsement of multiple economists while many others consider it a too risky tactic to follow. This paper is going to discuss the suitability of implementing “helicopter money” in the context of Vietnam during economic crises, particularly with (...) a focus on the ongoing novel coronavirus-induced economic downturn. The author also makes an attempt to clarify certain challenges that Vietnamese legislators should better study carefully if “helicopter money” is ever to be deployed, as well as the circumstances and extent of such deployment. (shrink)

Trước những lo ngại về khí hậu toàn cầu ngày càng gia tăng, các quốc gia trên thế giới đã ký kết thỏa thuận toàn cầu nhằm thể hiện sự cam kết mạnh mẽ để chung tay tìm kiếm các giải pháp sáng tạo để giảm thiểu phát thải khí nhà kính và tác động của nó đối với môi trường. Việt Nam là một trong những thành viên tích cực tham gia và có trách nhiệm, nhưng đồng thời cũng (...) là một nước bị ảnh hưởng nặng nề nhất của biến đổi khí hậu. Nhận thấy sự cần thiết phải giải quyết vấn đề biến đổi khí hậu, Việt Nam đang triển khai nghiên cứu việc thành lập thị trường các-bon trong nước, trong đó việc xây dựng và vận hành một hệ thống lưu ký các-bon được coi là một trụ cột quan trọng, trên cơ sở học hỏi kinh nghiệm từ các mô hình trên thế giới. Bài viết này đi sâu vào việc phân tích, đánh giá điều kiện, bối cảnh của Việt Nam và rút ra bài học kinh nghiệm từ các hệ thống lưu ký trên thế giới để đề xuất các giải pháp xây dựng một hệ thống lưu ký các- bon hiệu quả cho Việt Nam. (shrink)

Psychoanalisys, Marcuse, Freud articulated with some toughts of Karl Jung.

psychic dilemas in a world of finantial turmoil, between lack os resources and soviet imperialism.

ecology of mind and culture, due to perfeccionism of mankind in the way to the future.

Between Marshal Sahlins an Karl Poliany, reviewing some points on anti-utilitarism and political economy (M.A.U.S.S.).

United Nations’ Sustainable Development Goals 4 Quality Education has highlighted major challenges for all nations to ensure inclusive and equitable quality access to education, facilities for children, and young adults. The SDG4 is even more important for developing nations as receiving proper education or vocational training, especially in science and technology, means a foundational step in improving other aspects of their citizens’ lives. However, the extant scientific literature about STEM education still lacks focus on developing countries, even more so in (...) the rural area. Using a dataset of 4967 observations of junior high school students from a rural area in a transition economy, the article employs the Bayesian approach to identify the interaction between gender, socioeconomic status, and students’ STEM academic achievements. The results report gender has little association with STEM academic achievements; however, female students (αa_Sex[2] = 2.83) appear to have achieved better results than their male counterparts (αa_Sex[1] = 2.68). Families with better economic status, parents with a high level of education (βb(EduMot) = 0.07), or non-manual jobs (αa_SexPJ[4] = 3.25) are found to be correlated with better study results. On the contrary, students with zero (βb(OnlyChi) = -0.14) or more than two siblings (βb(NumberofChi) = -0.01) are correlated with lower study results compared to those with only one sibling. These results imply the importance of providing women with opportunities for better education. Policymakers should also consider maintaining family size so the parents can provide their resources to each child equally. (shrink)

El presente ensayo explora cuál es el tratamiento contable de los anticipos en moneda extranjera de acuerdo a las Normas Internacionales de Información Financiera (NIIF). Comienza analizando la NIC 21 en lo que respecta al tipo de cambio a considerar en las transacciones en moneda extranjera, el tratamiento posterior de las partidas en moneda extranjera y la diferencia entre partidas monetarias y no monetarias. Posteriormente desarrolla la CINIIF 22 “Transacciones en Moneda Extranjera y Contraprestaciones Anticipadas”. A efectos de comprender la (...) aplicación en la práctica en el Uruguay, se hizo una encuesta a empresas, en donde queda evidenciado que en la mayoría de los casos no se está cumpliendo la normativa vigente y se terminan reconociendo resultados financieros erróneamente. Este ensayo culmina con las reflexiones finales de los autores. (shrink)

I argue that much current thinking on externalities—at least among “lay political economists” (but even, on occasion, among professional economists)—is saddled with two analytical errors. The first is what I call coextensivism: the conflation of public goods and externalities. The second error is what I call externality profligacy: the conflation of economic and “social” externalities. The principal dangers presented by these two “dogmas on externalities” are that, while in their grips, we are under-disposed to seek negotiated, market-based solutions (of a (...) broadly Coasean nature) to challenges posed by economic externalities, and over-disposed to seek coercive, state-based solutions (of a broadly Pigouvian nature) to challenges posed by social externalities. (shrink)

Today’s youth find it extremely difficult to look beyond the present, in large part due to the precariousness of the labour market. Unconditional basic income, meanwhile, is emerging as the economic and social policy that is attracting most interest as an alternative not only to the conditional minimum income programmes, but also to the increasing unemployment and precarious conditions of employment. This survey study, conducted among students at the University of the Basque Country (UPV/EHU) in 2021 (n = 709), explores (...) the attitudes of young people towards basic income. Findings reveal strong support among Basque youth for basic income, citing its potential to enhance personal freedom and improve living conditions. While previous studies have already found that young people tend to be more supportive of basic income, this research fills a gap in the literature by analysing in depth young people’s attitudes and beliefs about this policy proposal. (shrink)

Purpose: Illicit financial flows are targeted by the United Nations’ (UN) Sustainable Development Goals (SDGs). However, these illicit flows are not entirely understood. Furthermore, they can benefit from economic norms, laws, and regulations that lack mechanisms to detect and penalize them. This paper investigates whether a recent test, the embezzler test, can be used to identify regulatory architectures that facilitate illicit financial flows and related financial crimes. -/- Design/methodology/approach: To develop a more advanced version of the embezzler test in terms (...) of definitions and practical implementation methodology. -/- Findings: In this test, the definition of embezzlement can be understood to be the occurrence of illicit financial flows crossing the boundaries of organizations and/or countries. This is a multi-stage test, which intentionally simulates illicit financial flows to observe how well equipped is the regulatory architecture to deal with other financial offences that are related with these flows, such as theft, money laundering, fraud, corruption, market manipulation, and tax evasion. -/- Originality: This is the first explicit test that has been presented to identify norms, laws, and regulations that facilitate illicit financial flows and related financial crimes. -/- Research implications: Future research can employ the version of this test to stress test a large range of economic norms, laws, and regulations. -/- Practical/Social implications: This test’s new version can assist achieve the UN SDGs’ illicit financial flow reduction target. Furthermore, it can be used to study both existing and proposed norms, laws, and regulation. (shrink)

A well-ordered society faces a crisis whenever a sufficient number of noncompliers enter into the political system. This has the potential to destabilize liberal democratic political order. This article provides a formal analysis of two competing solutions to the problem of political stability offered in the public reason liberalism literature—namely, using public reason or using convergence discourse to restore liberal democratic political order in the well-ordered society. The formal analyses offered in this article show that using public reason fails completely, (...) and using convergent discourse, although doing better, has its own critical limitations that have not been previously recognized properly. (shrink)

The egalitarian ethos, as formulated by G.A. Cohen, and the unconditional basic income are two proposals that a priori may seem incompatible. The reason is that Cohen’s ethos – aimed at reducing inequality without sacrificing efficiency or freedom- requires that individuals work hard in socially useful occupations without asking for any inequality-generating incentives. On the contrary, the UBI, as conceived by Van Parijs and van der Veen, consists of an income paid by the government to every full member of society (...) regardless of their willingness to contribute to society in the form of work. In short, the ethos includes a productive requirement while the UBI has an unconditional character. However, if we introduce an absolute level of affluence above what occupational autonomy takes precedence over efficiency and if we broaden the range of socially useful contributions beyond formal employment, the tension between the egalitarian ethos and UBI will be alleviated. (shrink)

Governments are increasingly using wellbeing frameworks as a primary way to measure economic and social progress. These frameworks aim to measure a population’s wellbeing in order to develop policies that improve its wellbeing. However, there’s strong disagreement as to what wellbeing consists in, both among philosophers and the general public. So, what is it exactly that governments should be trying to promote when they aim to measure and promote wellbeing? My method is to identify the primary conditions for an account (...) of wellbeing for wellbeing frameworks and find the account of wellbeing that best meets those conditions. When we do this, we find that no existing account of wellbeing used for this purpose is satisfactory. I describe an account of wellbeing that has not been used in wellbeing frameworks, which I call the Reflective Value account. I argue this account succeeds in meeting our conditions and so is the best account of wellbeing for this purpose. (shrink)

John Tomasi's new book, Free Market Fairness, has been well-received as "one of the very best philosophical treatments of libertarian thought, ever" and as a "long and friendly conversation between Friedrich Hayek and John Rawls—a conversation which, astonishingly, reaches agreement". The book does present an authoritative state-of-the-debate across the spectrum from right-libertarianism on the one side to high liberalism on the other side. My point is not to question where Tomasi comes down with his own version of "market democracy" as (...) a remix of Hayek and Rawls. My point is to use his sympathetic restatements of views across the liberal spectrum to show the basic misframings and common misunderstandings that cut across the liberal-libertarian viewpoints surveyed in the book. As usual, the heart of the debate is not in the answers to carefully framed questions, but in the framing itself. (shrink)

A universal basic income (UBI) would be a guaranteed income floor for both the employed and the unemployed, from which economic theory predicts a gain in bargaining power and a disincentive to work. For high earners, the increase in taxes necessary to fund this program would decrease their motivation to earn. To assess these aspects, we conducted a lab-in-the-field experiment at a State Employment Service office in Spain. The unemployed participants received either an initial unconditional endowment, framed under the logic (...) of the solidarity condition of UBI (UBI treatment) – to examine the taxes’ effect – or as a participation fee (FEE) or no initial endowment (NONUBI). Subsequently, they faced one default randomized task from a set of four paid real-effort tasks. To study bargaining power, they could change the task up to three times and/or skip all tasks and conclude the experiment. In the FEE treatment, they yielded the highest earnings. While we did not find a statistically significant difference in earnings between the FEE and the NON-UBI treatments, the UBI differed from the NON-UBI and FEE. A likely reason could be a crowding-out of motivation by the pressure to reciprocate without believing in other participants’ deservingness of the UBI. In addition, the results reveal that females change tasks more frequently than males. (shrink)

Interest in universal basic income has risen recently as an alternative to existing exchequer-sourced social security methods, such as conditional cash transfers. This article presents a survey of multiple experiments investigating the impact of basic income cash transfers on recipients while presenting a meta-analysis of the results across nine categories. Many findings indicate successful outcomes across financial security, health, and educational dimensions. Children were amongst the strongest beneficiaries of the trials and observed a 4.5 % reduction in obesity, a 19.5 (...) % increase in their normal weight-for-age, a 30 % increase in female secondary school attendance, and an increase in the educational attainment of one year in response to the cash transfers. (shrink)

A prominent feature of the contemporary society in the last couple of decades is the phenomenon of globalization. While globalization has brought immense benefits to Africa on the one hand, Africa’s entrance into and participation in the global scene has also precipitated a crisis of confusion and identity for Africa–a situation which is analogous to the effect of her encounter with colonialism, so that unless the dialectic of identity and difference that inevitably arises from this situation is constructively managed, it (...) will be difficult for Africa to make the best of the opportunities inherent in globalization. Given that no one can make the best of any opportunity for interaction with others unless one is clear about one’s identity and priorities, a major challenge Africa has to address in the context of globalization is the need to assume personal responsibility in defining her priorities and interests such as to allow these to inform her engagement with the various participants in the global world. More often than not, the Achilles heel of Africa is lack of clear focus in respect of her priorities as well as failure to allow her interests to drive her engagement with other participants in the global system. To reverse the situation of dependency which this mode of operation fosters, we argue that, Africa needs to relocate the locus of control internally and put in place a strong regime of internal democracy based on rule of law to tackle the menace of corruption and mismanagement that has undermined development initiatives since independence. (shrink)

This article was championed in view of the notion of (perceived) economic rationalisation which seem to be the foremost of patients' care in the NHS as opposed to addressing distress to their existing well-being, while in a state of being tormented with agonising news of prolonged ill health. Serious consideration is given to addressing the need to rationalise resources in ensuring the long standing history of the NHS' free health care is critically addressed, but not in a way that destroys (...) confidence on the ability of professionals to manifest ethical prudence in their acts of judgments about whether patients' care is to be imminent or prolonged on a waiting list. There is certainly serious impacts to be comprehended with in situations of economic rationality through services provided by the NHS, but it is believed that tangible outcomes about definitive care for patients should be addressed collaboratively. (shrink)

Political short-termism costs the global economy hundreds of billions to trillions of dollars annually, and leads to many millions of deaths from disasters and suboptimal spending. In this paper, I propose a futures assembly explicitly incentivised to promote the interests of future generations as a promising strategy to ameliorate short-termism. The assembly I propose is governed by citizens randomly selected from among the populace, who are rewarded in the future to the extent that they successfully promote the welfare of future (...) generations. The most initially promising such retrospective accountability mechanism is an iterated mechanism, in which each generation of policymakers rewards the previous generation for their policy choices and for their own evaluation of the previous generation. Such an assembly, supplemented with the duties, powers, and tools that I describe, and with appropriate support from archivists and experts, may manage to represent generations many years into the future. (shrink)

A. Klimczuk, Book review: S. Harper, K. Hamblin, International Handbook on Ageing and Public Policy, Edward Elgar, Cheltenham, UK, Northampton, MA 2014 and R. Ervik, T.S. Lindén, The Making of Ageing Policy. Theory and Practice in Europe, Edward Elgar, Cheltenham, UK, Northampton, MA 2013., "Pol-int.org" 2017, https://www.pol-int.org/en/publications/international-handbook-ageing-and-public-policy#r5581.

Frederick Bastiat’s last work was the Economic Harmonies, published in 1851. He died while completing it, and — though it had some uptake in the 19th century — in recent times scholarly interest has focused on his other work. In the Harmonies, he makes a remarkable claim: when properly understood, in a free market society all people’s economic interests are in harmony. If we consider that Karl Marx was arguing at the same time that those same societies are afflicted by (...) an endemic class struggle that can end only with the com-munist revolution, the contrast is sharp. In this paper, I explore Bastiat’s rationale for his claim, as a rejoinder to one of the influential arguments mounted by Marx against economic liberty. (shrink)

This is an edited transcript of a conversation to be included in the collection "Conversations on Rational Choice". The conversation was conducted in Munich on 7 and 9 February 2016.