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)

As part of our exploration of a new conceptual framework for an economy that works for 100% of humanity, this conceptual paper asks why all talk about the purpose of organizations seems to suffer from a certain bias, namely the bias of scarcity, and how this myth of scarcity influences our understanding of corporate responsibility. The mainstream understanding of corporate purpose always contains partly normative and partly functional aspects designed to cope with the purported problem of scarcity. According to (...) economic and CSR reasoning, this bias concerning the purpose of business organizations triggers two quite distinct understandings of the essence of corporate responsibility. The economic view interprets it as responsibility towards the company, while CSR and business ethics argue that it reflects, or at least ought to reflect, a broader responsibility towards society. To overcome this responsibility gap, we need to affect a paradigm shift in economic reasoning, a shift which reconciles economic responsibility on the micro-level logic of raising profit with the greater demands of the meso, macro, and supra levels. Only then do we obtain a truly meaningful lever for changing real-world business practice from within the micro-logics of running a corporation. This paradigm shift requires a different mental model - a model of resource growth and natural abundance, rather than of scarcity - on the part of both economists and business ethicists. It can be labeled the economic model of future viability. This paper develops a conceptual argument for a future viable model of business practice which, first and foremost, takes seriously the need for the kind of micro-level decision-making which keeps individual organizations afloat, but which also, and crucially, delivers a solution for future viable business models and business behavior which breaks the apparent downward spiral of modern wealth creation, i.e. the spiral of continuous acceleration, disruption, concentration and resource exploitation, and which, thirdly, delivers a proper definition of purpose which can be applied in measurement systems which are free of biased assumptions of scarcity. (shrink)

As part of our exploration of a new conceptual framework for an economy that works for 100% of humanity, this conceptual paper asks why all talk about the purpose of organizations seems to suffer from a certain bias, namely the bias of scarcity, and how this myth of scarcity influences our understanding of corporate responsibility. The mainstream understanding of corporate purpose always contains partly normative and partly functional aspects designed to cope with the purported problem of scarcity. According to (...) economic and CSR reasoning, this bias concerning the purpose of business organizations triggers two quite distinct understandings of the essence of corporate responsibility. The economic view interprets it as responsibility towards the company, while CSR and business ethics argue that it reflects, or at least ought to reflect, a broader responsibility towards society. To overcome this responsibility gap, we need to affect a paradigm shift in economic reasoning, a shift which reconciles economic responsibility on the micro-level logic of raising profit with the greater demands of the meso, macro, and supra levels. Only then do we obtain a truly meaningful lever for changing real-world business practice from within the micro-logics of running a corporation. This paradigm shift requires a different mental model - a model of resource growth and natural abundance, rather than of scarcity - on the part of both economists and business ethicists. It can be labeled the economic model of future viability. This paper develops a conceptual argument for a future viable model of business practice which, first and foremost, takes seriously the need for the kind of micro-level decision-making which keeps individual organizations afloat, but which also, and crucially, delivers a solution for future viable business models and business behavior which breaks the apparent downward spiral of modern wealth creation, i.e. the spiral of continuous acceleration, disruption, concentration and resource exploitation, and which, thirdly, delivers a proper definition of purpose which can be applied in measurement systems which are free of biased assumptions of scarcity. (shrink)

In a time imbued with civilisation crisis, José Manuel Naredo's work is of particular relevance. Naredo, one of the most prestigious economists in Spain and a pioneer of ecological economics, first published his most popular book ( La economía en evolución. Historia y perspectivas de las categorías básicas del pensamiento económico) in 1987. This article reviews its most recent and updated version released in 2015. Beyond a brilliant criticism of neoclassical economics, he discusses the underlying ideology and implications of the (...) notion of economic system uncritically endorsed by most schools of economic thought. Transcending the usual dichotomy between ‘orthodox’ and ‘heterodox’ economics, Naredo calls for an economic transition built on the integration of different kinds of scientific knowledge as well as other intuitive, metaphysical and ethical fields in favour of a truly inclusive economics. This is, he warns us, a sine qua non for a socioecological transformation to flourish. (shrink)

Concepts that include the participation and empowerment of workers are becoming increasingly important nowadays. In many of these concepts, the formal responsibility is delegated to teams. Does this imply that the normative responsibility for the actions of teams is also delegated? In this article we will reflect on the difference between holding a person accountable and bearing responsibility. A framework is elaborated in order to analyse the accountability and responsibility of teams. In this framework, the emergence of a collective mind, (...) and the organisational factors that influence the extent to which teams have the possibility of acting in a responsible way play an important role. It shows that teams can bear responsibilities that could never be carried by a group of individuals. The framework is used to analyse two sample cases with self-managing teams in production facilities. The authors discuss the implications for the theory and practice of self-managing teams and the allocation of responsibility between individuals, teams and the organisation. (shrink)

This paper, following the work of the sociologist Philip Selznick, identifies three stages of moral development in organizations: ethical improvisation, ethical institutionalization, and ethical revival. I argue here that the developmental perspective is inherent in the structure of biblical narrative, especially in the stories of Genesis and Exodus. The paper concludes by debunking three common myths associated with business ethics.

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

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

My objections are: first, we may ask whether the achievement of The Wealth of Nations has been that of creating a new and more encompassing conceptual framework where already existing theoretical elements could be integrated and whether the growth of knowledge could have originated from a growth in the consistency of a theoretical framework which synthesized already existing individual elements; secondly, we may ask whether Smith's "tendentious" presentation of the positions of both predecessors and opponents might be some (...) kind of unavoidable sin and he might have been guilty of that sin because this was a price to be paid to his rhetorical strategy; thirdly, whether the fact that a text has been canonized at a certain moment in history for quite contingent reasons is no decisive proof of the intrinsic worth or lack of worth of the text in itself. (shrink)

Introduction : ethical economics? -- The sovereign consumer -- Two myths about economic growth -- The politics of pay -- Happiness -- Pricing life and nature -- New worlds of money : public services and beyond -- Conclusion.

Must a society aim indefinitely for continued economic growth? Proponents of economic growth advance three central challenges to the idea that a society, having attained high levels of income and wealth, may justly cease to pursue further economic growth: if environmentally sustainable and the gains fairly distributed, first, continued economic growth could make everyone within a society and globally, and especially the worst off, progressively better off; second, the pursuit of economic (...) growth spurs ongoing innovation, which enhances people’s opportunities and protects a society against future risks; and third, continued economic growth fosters attitudes of openness, tolerance, and generosity, which are essential to the functioning of a liberal democratic society. This article grants these challenges’ normative foundations, to show that, even if one accepts their underlying premises as requirements of justice, a society may still justly cease to aim for economic growth, so long as it continues to aim for and realize gains on other dimensions. I argue that, while continued economic growth might instrumentally serve valuable ends, it is not necessary for their realization, as a society can achieve these ends through other means. (shrink)

Slight absolute changes in the Shanghai Stock Exchange Index (SHSE) corresponded to the city’s immediate increases in coronary heart disease deaths and stroke deaths. Significant fluctuations in the Shenzhen Stock Exchange Index (SZSE) corresponded to the country’s minor, delayed death rates. Investors deal with money, greed, stock volatility, and risky decision-making. Happy people live longer and better. We ask the following question: Who are the investors with the highest and most sustainable stock happiness, and why? Monetary wisdom asserts: Investors apply (...) their deep-rooted values (avaricious love-of-money aspiration and locus of control, Level 2) as a lens to frame critical concerns in the proximal-immediate (Shanghai Stock Exchange Index changes, Level 1) and the omnibus-distal contexts (domicile: city vs. country, Level 2) to maximize expected utility (portfolio changes, Level 1) and ultimate serenity (stock happiness, Level 1). We collected multilevel data—the longitudinal SHSE and 227 private investors’ daily stock happiness and portfolio changes for 36 consecutive trading days in four regions of China. Investors had an average liquid asset of $76,747.41 and $54,660.85 in stocks. This study is not a “one-shot” game with “nothing at stake.” We classified Shanghai and Beijing as the city and Shenzhen and Chongqing as the country. Our cross-level 3-D visualization reveals that regardless of SHSE volatility, investors with low aspiration, external control, and country domicile enjoy the highest and most sustainable stock happiness with minimum fluctuations. Independently, investors with low aspiration, external control, and country domicile tend to make fewer portfolio changes than their counterparts. Behaviorally, less is more, debunking the myth—risky decisions excite stock happiness. Our longitudinal study expands prospect theory, incorporates attitude toward money, and makes robust contributions to behavioral economics and business ethics. We help investors and ordinary citizens make happy, healthy, and wealthy decisions. Most importantly, the life you save may be your own. (shrink)

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

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

This article explores parallels between Marx's and Schumpeter's theories of capitalist development, and discusses the relationship of these classical approaches to later constructivist theories of technological and organizational changes. It is suggested that Marxian and Schumpeterian ideas could be combined in a way which remedies the weaknesses of both sides, and provides a better understanding of the innovative dynamics of capitalism; such a synthesis could then be linked to a constructivist model of the rise and fall of economic `myths'.

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

Are societies required to pursue continual economic growth as a matter of justice? In “The Value of Economic Growth”, Julie Rose considers three arguments in favor of the need for continual economic growth, each of which revolves around the instrumental value of economic growth for promoting an important good that is needed for a just society. In each case, Rose argues that there are mechanisms other than economic growth that could (...) allow a society to deliver the relevant goods, and thus meet the demands of justice with respect to those goods. I raise a set of issues for Rose’s argument that put pressure on the normative significance of her discussion. At the heart of these issues are ones about which possibilities Rose considers and which idealizations she makes. These issues tie into more general questions about the aims and methodology of normative work in social/political philosophy. Thus, in addition to being a contribution to the debate over the politics of economic growth, this paper can be understood partly as a case study in how reflection on these kinds of issues – ones about modality, idealization, and methodology – can matter to how we evaluate specific arguments in social/political philosophy. (shrink)

Labor is both punishment and curse.At least this is what the mythical scenes of division and exclusion in Hesiod and in the Old Testament dramatise.At the same time they can be regarded as symptoms of misogyny.Without doubt, those two mythical scenes and the divine power to curse and sentence have held their spell over the economic tractates from antiquity to the modern period. How do the ancient writings of economic theory—and specifically Aristotle’s Politics and Ethics—regulate female Pleonexia on (...) the one hand, and the limitless penal labor imposed on men on the other? How in turn do the economic tractates of the modern period—and here specifically John Locke’s famous essays on the economy of labor—respond to the problem of female hybris on the one hand and the characteristical burden and suffering associated with labor on the other? What role does the differentiation and separation between free and unfree, productive and reproductive labor and, not least, the economic marginalisation of reproductive labor, play in this? And finally: In what way do »King Bee« and Queen Bee, Nurse Bee and Drone appear in this context as figures of an at once mythical and economic zoology, whose emblematic efficacy extends up to Bernard Mandeville’s Fable of the Bees? (shrink)

Startery Podlaskiej Gospodarki. Analiza Gospodarczych Obszarów Wzrostu I Innowacji Województwa Podlaskiego: Sektor Rehabilitacji Geriatrycznej (Podlasie Economy Starters. Analysis of Economic Growth and Innovation Areas of Podlaskie: Geriatric Rehabilitat Bogusław Plawgo, Magdalena Klimczuk, Mariusz Citkowski, Marta Juchnicka & Andrzej Klimczuk Wojewódzki Urz¸Ad Pracy W Białymstoku (2009) .

More Info: B. Plawgo, A. Grabska, M. Klimczuk-Kochańska, A. Klimczuk, J. Kierklo, J. Żynel-Etel, Startery podlaskiej gospodarki. Analiza gospodarczych obszarów wzrostu i innowacji województwa podlaskiego: sektor produkcji oprogramowania komputerowego (Podlasie economy starters. Analysis of economic growth and innovation areas of Podlaskie: software production sector), Wojewódzki Urząd Pracy w Białymstoku, Białystok 2011.

The social sources of antisocial behavior; principles of social inequality; and the origins, enemies, and possibilities of rational discussion in public affairs ...

This paper examines the spatial spillover effects of public transportation infrastructure on regional economy in Northeast China, the “rust belt” region in China. The dataset consists of socioeconomic data from 47 cities in the area during the period of year 2005 through 2015. Accessibility is used as an explanatory variable to reflect the influence of infrastructure on economic development. In order to avoid the endogenous, queen contiguity matrix is used to define the spatial weight matrix. In the paper, the (...) dynamic panel data model is also used to explore the effects of high-speed railways in the whole study area and attempted to confirm the spatial differences among Heilongjiang Province, Jilin Province, and Liaoning Province. The results show that the high-speed railways increase the cities’ connection in terms of accessibility, and a significant positive spillover effect exists after the construction of high-speed railways, indicating the extensive economic benefits of HSR construction, despite of the overall economic difficulty experienced by this region. (shrink)

The inner affinity of money and religion has been a central issue of the `classical' theories of money, in particular of Georg Simmel and Karl Marx. The paper argues that the conceptualizations of money in current economic sociology and mainstream economic theory are deficient, and that a more promising approach can be developed by referring to those classical authors, whose thinking was not yet dominated by the institutionalized academic division of labour between sociology and economics of today. It (...) is shown, how the concept of money as `Vermögen' (Simmel) or as `capital' (Marx) can be combined with current constructivist theories of economic `myths' and `visions', thus opening a new perspective for sociological analysis of entrepreneurship, innovation, economic growth and social change. (shrink)

The global coronavirus pandemic has had an impact on the socio-economic development of the world. The article assesses the economic growth in the EAEU member States for 2020. Specific features of the development of the Union's economies are defined. Recommendations for increasing the rate of economic growth are formulated.

The conjoining of civic republicanism and green politics is a new but timely response to understanding and navigating a path through and beyond our turbulent times. A green republican analysis our contemporary condition–climate breakdown, rising inequality, the crisis of representative democracy–sees the structural and ideological imperative of endless economic growth as one root cause. From a green republican perspective economic growth has now passed a threshold where it has become a threat, both to the sustainability/longevity of (...) the polity, but also common goods and human flourishing. This paper identifies and analyses key components of the growth imperative, such as debt-based consumerism and non-democratic workplaces, as well as more widely discussed requirements of growth to externalise ecological and social costs, and growth’s dependence on cheap and secure sources of fossil resources. It argues that these components of growth pose serious risks to liberty as nondomination, the securing and protecting of common goods, rough equality and securing the ecological conditions for the republic. Therefore, these ‘green’ concerns should be also concerns for republicans. The paper looks at one recent strategy that has been proposed to help move societies beyond climate breakdown and carbon-addiction–namely the ‘Just Transition’ discourse and set of policy proposals. The paper offers a green republican account of the Just Transition strategy for a post-or low carbon economy in which equality, justice and democratic participation are central. (shrink)

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

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

Must we always pursue economic growth? Kogelmann answers yes. Not only should poor countries pursue growth, but rich countries should as well. Kogelmann aims to provide a wealth-insensitive argument – one demonstrating all countries should pursue growth regardless of their wealth. His central argument – the no halting growth (NHG) argument – says no country experiencing growth should stop it, because doing so requires undermining the conditions causing it and those conditions are independently morally (...) desirable, so they should not be undermined. For countries not growing, he may argue that they have an obligation to implement the conditions that cause growth because they are independently morally desirable. Call this the implementation argument. I contend that neither argument is wealth-insensitive as each fails to establish an obligation to pursue growth. I attempt to diagnose how this could be and propose that it is a product of attempting to answer three questions about growth simultaneously. (shrink)

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

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

Comparison of economic growth in mixed economy and socialist economic systems - reviews economic theories thereon, provides a framework for the economic analysis of acceleration of growth under different initial conditions and for introducing political choice into the economic planning process, includes work on the selection of investment projects in a planning context, as implemented in Poland, and emphasizes political aspects of economic problems.

The concept of social entrepreneurship emerged as a significant factor that contributes toward public welfare and prosperity. Recent studies showed that social entrepreneurship influences the economic growth and sustainability of the state. Therefore, the underlying aim of this study was to investigate the impact of social entrepreneurship on sustainable economic growth and value creation. This study also undertook to observe the mediating role of innovation in the relationship between social entrepreneurship and sustainable economic growth (...) and between social entrepreneurship and value creation. A questionnaire technique was adopted to obtain data from 343 tour operators in China. The Smart-PLS software was used to analyze the data through the aid of a structural equation modelling technique. The results revealed that social entrepreneurship has an effect on sustainable economic growth and value creation. The results also demonstrated that innovation has an effect on sustainable economic growth and value creation. Moreover, it was also observed that innovation mediated the relationship between social entrepreneurship and sustainable economic growth and between social entrepreneurship and value creation. Theoretically, this study made a valuable contribution by examining the impact of social entrepreneurship on sustainable economic growth and value creation and innovation as a mediator. In terms of practical implications, this study would certainly aid the policymakers to devise policies and strategies aim to encourage and promote social entrepreneurship. Moreover, future studies can introduce other mediating and moderating variables in order to gain a deeper insight into the phenomenon. (shrink)

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

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

Labor is both punishment and curse. At least this is what the mythical scenes of division and exclusion in Hesiod and in the Old Testament dramatise. At the same time they can be regarded as symptoms of misogyny. Without doubt, those two mythical scenes and the divine power to curse and sentence have held their spell over the economic tractates from antiquity to the modern period. How do the ancient writings of economic theory—and specifically Aristotle's Politics and Ethics (...) —regulate female Pleonexia on the one hand, and the limitless penal labor imposed on men on the other? How in turn do the economic tractates of the modern period—and here specifically John Locke's famous essays on the economy of labor—respond to the problem of female hybris on the one hand and the characteristical burden and suffering associated with labor on the other? What role does the differentiation and separation between free and unfree, productive and reproductive labor and, not least, the economic marginalisation of reproductive labor, play in this? And finally: In what way do »King Bee« and Queen Bee, Nurse Bee and Drone appear in this context as figures of an at once mythical and economic zoology, whose emblematic efficacy extends up to Bernard Mandeville's Fable of the Bees ? (shrink)

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

In lieu of an abstract, here is a brief excerpt of the content:Reviewed by:Nature and Altering It, and: Keeping God’s Earth: The Global Environment in Biblical PerspectiveJohn SniegockiNature and Altering It Allen Verhey Grand Rapids, Mich.: Eerdmans, 2010. 150 pp. $15.00.Keeping God’s Earth: The Global Environment in Biblical Perspective Edited by Noah Toly and Daniel Block Downers Grove, Ill.: IVP Academic, 2010. 300 pp. $25.00.Both of the books under review focus on how Christians should relate to the rest of God’s (...) creation. The first book, Nature and Altering It, is based on Allen Verhey’s 2008 Jellema Lectures at Calvin College. It is a rather brief book, which retains much of the lecture style. The purpose of the book is to explore how Christians should relate to the natural world. In the opening chapter, Verhey provides sixteen different definitions of “nature,” opting himself for a definition of nature as “everything but God” (12). Verhey further contends that any definition of nature is necessarily embedded in a broader vision or myth. In the second chapter he explores and critiques some of the dominant myths of our time, such as the “Baconian myth,” the “myth of the project of liberal society,” and the “myth of the project of capitalism.” These myths, he argues, together contribute to an instrumental view of nature, the priority of short-term economic interests, and a rather blind faith in science-technology and unlimited economic growth.In contrast to these and other myths and their harmful social and ecological consequences, Verhey stresses the importance of the “myth of the Christian Scriptures” (12). Among the central biblical themes he highlights are the distinction between God and creation and the prohibition of all forms of idolatry, including idolatry of science and technology, of economic growth, or of nature itself. Verhey also emphasizes the goodness of creation, creation’s promised future eschatological perfection, God’s deep concern for the poor and marginalized, and the vocation of humans to image God’s care for the world. “We image God,” Verhey states, “in self-giving, in practices of caring for and affirming the existence of the other, including the non-human other” (86–87).While focusing especially on the importance of narrative and storytelling, arguing that “the biggest danger for the Christian community is forgetfulness” [End Page 220] (120), Verhey also stresses the need for prophecy, wisdom, analysis, and policy work. Each should be shaped by the Christian narrative and give rise to actions that “already give some little token” of the fullness of shalom that is God’s promised future for humanity and creation (121). Among the specific ecological actions that Verhey recommends are planting a garden, living simply, prioritizing energy efficiency, and working for policy changes that will foster ecological sustainability.The volume Keeping God’s Earth, edited by Noah Toly and Daniel Block, explores from an evangelical Christian perspective the same basic question of how humans are to properly relate to God’s creation. The book begins with a chapter titled “Eschatology and Environmental Ethics,” followed by four paired sets of chapters exploring the topics of cities, biodiversity, water, and climate change. The first essay of each pair provides a factual overview of the topic. The second explores biblical theology relevant to the topic. The book concludes with an essay on environmental ethics and an afterword exploring the theme of Christ as “Gardener-King.”The four chapters that present factual overviews of ecological problems are very helpful, providing important background information upon which informed theological and ethical reflection depends. The chapter by renowned climatologist Sir John Houghton on global climate change is especially useful, highlighting the urgency of rapidly reducing greenhouse gas emissions and explaining why taking a “wait and see” attitude should be understood as morally irresponsible. “The truth is,” asserts Houghton, “that our global environment is deteriorating at an alarming rate, and unless we admit our destructive behaviors and seek more sustainable responses... our children’s children will have very little hope for a future” (189). Acknowledging such dire realities, David Gushee, in the book’s concluding chapter on ecological ethics, stresses that attention to ecology can be properly seen as the most pressing moral challenge that humanity faces. Ecological... (shrink)

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

Rich, identified as a freelance writer and the former assistant chief counsel for the state of Arizona, spells out his ideas about the pervasive and detrimental influence of religion on rational thinking and public policy. This is not a scholarly treatise, but rather an extended statement of the author's world view. Annotation copyright by Book News, Inc., Portland, OR.

In his fragment on `capitalism as a religion', Walter Benjamin characterizes capitalism not only as a phenomenon that is `influenced' by religion, as conventional sociological interpretations assume, but as one of `essentially religious' character. This article takes up and elaborates Benjamin's idea, drawing mainly on Simmel, Marx and the constructivist concept of economic `myths'. Referring to Simmel's idea of money as `absolute means' and Marx's concept of capital, it is argued that money is a non-observable and basically paradox phenomenon, (...) comparable to religion. But capitalism differs from traditional religion in that it is no longer based on a fixed distinction between the mundane and the transcendent world. Rather, the promises of capital have to be redeemed in a continuous process of constructing and deconstructing economic `myths'. The article argues that such an interpretation of capitalism `as' a religion could be capable of synthesizing the results of contemporary research on innovation, entrepreneurship and economic growth. (shrink)