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.

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) .

Economic diversification has been the glamour of successive administrations in Nigeria, especially amidst the dwindling oil-revenue in recent years, which has resulted from the fluctuations in world crude oil prices. This study aims at investigating the impact of diversifying the economy on the economic growth in Nigeria. Secondary data on GDP growth rate as a proxy for economic growth, non-oil GDP as a proxy for GDP diversification, non-oil export as a proxy for export diversification, (...) investment and exchange rate, between 1981 and 2016, were adopted in the study. An econometric approach of Ordinary Least Squares (OLS) was adopted to empirically analyze the collected data and the result revealed that non-oil gross domestic product impacted positively and significantly on economic growth while exchange rate had an inverse but significant nexus on economic growth in Nigeria, within the period covered in the study. However, non-oil export and investment impacted positively but insignificantly on economic growth in Nigeria. The study recommends the encouragement of increased productivity in the real sector as well as the adoption of stable and favourable exchange rate policies by the government in order to accelerate economic growth in Nigeria. (shrink)

For many years, the relationship between the financial system and economic growth has attracted the attention of scholars intending to uncover the direction of the relationship. The stock market is a part of the financial system and plays an essential role in channelling equity funds into the economy and creating liquidity for the equity instruments. A substantial empirical study postulates that the stock market can boost the economic growth of an economy. However, other studies assert that, (...) at best, the stock market is an unimportant economic driver. (shrink)

This study analyzes the relationship between foreign trade and economic growth in Myanmar over the period 1990-2014. It covers the annual data of GDP, Export and Import of Myanmar from 1980 to 2014. This study adopts two major methodological approaches – exploratory data analysis and descriptive analysis. For the first approach, Augmented Dickey-Fuller (ADF) unit root test and Granger causality test are used under the framework of Vector Autoregressive (VAR) model, which have almost never been studied for the (...) Myanmar case. The second approach includes the analysis of Myanmar’s foreign trade trend with descriptive statistics. The results show that foreign trade did not generate a significant effect on the economic growth of Myanmar. Rather, import growth was negatively influenced by the economic growth of Myanmar. It is found out that exports had been determined by the GDP growth. Thus, growth-driven export strategy had been applied for the period of 1990-2014. Also, there was only one causal run from export growth to import growth. The results conclude that foreign trade did not have significant impact on the economic growth of Myanmar over the period of 1990–2014. (shrink)

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, Wojewódzki Urz¸ad Pracy w Białymstoku, Białystok 2011.

Abstract: In developing societies, foreign direct investment is an invaluable tool for achieving economic growth by enhancing competitiveness through offering employment, transferring sophisticated technologies, boosting productivity and promoting infrastructure. The main objective of the paper is to examine the trends of foreign direct investment and economic growth in Africa, with specific reference to Nigeria’s experience in pre-recession period. The paper notes that foreign direct investment provides capital for investment, it enhances job creation and managerial skills, and (...) possibly technology transfer. The paper observe that prior to the economic recession, Nigeria experienced continued increased in foreign direct investment. The study is an empirical investigation, using a time series data between 1999-2014. The data collected was analyzed using table of frequency distribution, bar chart, graph and correlation analysis. The analysis shows that there is a high positive correlation relationship between FDI and economic growth in Nigeria during the period under study. Based on the results and findings, the paper recommend among others that for Nigeria to optimize the potential benefits of FDI, it is important that the government exercise fiscal discipline and control measures in its pattern of borrowing and spending. (shrink)

This paper examined managing and improving education for sustaining national income and economic growth rate in Nigeria. It attempts to explore the ways in which education can be effectively managed to lead to an improvement in national income and economic growth rate in Nigeria. Concepts relating to the topic were clearly defined. The meaning of national income, economic growth, and economic growth rate was explained. The importance and determinants of national income were (...) identified and explained. Efforts were made to explain the reasons for the slow national income growth rate in Nigeria as well as the ways to improve the national income growth rate. The role of education in sustaining national income and economic growth rate was shown using literature from other scholars. Conclusions and recommendations were made based on the observations from the study. (shrink)

Questioning economic growth remains a heresy, but the mathematics of compound growth show its indefinite continuation to be impossible. This frames a problem best resolved while we are still able to do so.

The role of China in the world economy is constantly growing. In particular we observe that it plays more and more important role in the support of theworld economic growth (as well as high prices of certain very important commodities). In the meantime the perspectives of the Chinese economy (as well as possible fates of the Chinese society) remain unclear, whereas respective forecasts look rather contradictory. That is why the search for new aspects and modes of analysis of (...) possible development of China turns out to be rather important for the forecasting of global futures. This article employs a combination of scientific methods that imply (a) the analysis at the level of Chinese economic model; (b) the analysis at regional level (at this level the Chinese economic model is compared with the regional East Asian model); (c) the analysis at the global level that relies on the modified world-system approach that allows to answer the question whether China will replace the USA as the global leader. It is important that the analysis is conducted simultaneously in economic, social, demographic, and political dimensions. As regards the analysis of specific features of the Chinese model as an especial type of the East Asian model (that is based on the export orientation, capital & technology importation, as well as cheap labor force), we note as organic features of the Chinese model the totalitarian power of the Communist Party and the immenseness of resources. As regards special features of the Chinese model, we note (in addition to “cheap ecology” and cheap labor force) and emphasize that China has a multilevel (in a way unique) system of growth driving forces, where, as opposed to developed states, the dominant role belongs not to native private capital, but to state corporations, local authorities and foreign business. This explains the peculiarities of the Chinese investment (or rather overinvestment), which determines high growth rate up to a very significant degree. A unique feature of the Chinese model is the competition of provinces and territories for investments and high growth indicators. As regards perspectives of the global hegemony of China, we intend to demonstrate that, on the one hand, economic and political positions of China will strengthen in the forthcoming decades, but, on the other hand, China, assuming all possible future success, will be unable to take the USA position in the World System. We believe that in a direct connection with the development of globalization processes the hegemony cycle pattern is likely to come to its end, which will lead to the World System reconfiguration and the emergence of its new structure that will allow the World System to continue its further development without a hegemon. Finally, the article describes some possible scenarios of the development of China. We demonstrate that China could hardly avoid serious difficulties and critical situations (including those connected with demographic problems); however, there could be different scenarios of how China will deal with the forthcoming crisis. We also come to the conclusion that it would be better for China to achieve a slowdown to moderate growth rates (that would allow China to go through the forthcoming complex transition period with less losses) than to try to return at any cost to explosive growth rates attested in the 2000s. (shrink)

In the context of Ukraine’s membership in the WTO, the functioning of a free trade area with the EU, the opportunity for agricultural producers to obtain a larger share of the value added is primarily linked to the intensification of trade in domestic livestock products and their processing products. However, their production is one of the high-risk areas and requires a set of measures aimed at ensuring proper quality. Without effective solution of the problem of quality of livestock products it (...) is impossible to ensure its competitiveness in the world market, to guarantee the rational nutrition of the population of the country, the availability of the necessary components for the vital activity of the human body. The aim of the research is to determine the socio-economic factors for ensuring the quality of livestock products in Ukraine. The scientific and specific research methods were used to solve the tasks set in the work: the historical method; abstraction method; method of comparative analysis; system-structural method. The main producer of livestock products in Ukraine are households. They do not have the capabilities to implement technologies of keeping, feeding, veterinary services, programs prerequisites for guaranteeing the safety of products, adherence to the HACCP principles. In Ukraine, real technical, economic and organizational-economic prerequisites for ensuring the safety and quality of livestock products are created only in the poultry meat sector. During 2015-2017, the trends in production of almost all types of livestock products except poultry and honey were identified. One of the reasons for this situation was, firstly, decreasing in capital investment in the livestock sector, and secondly, the low profitability of production of livestock products in the context of accelerated growth in prices for resources. It is proved that insignificant market (price) incentives should be supplemented with instruments of state assistance to improve the quality parameters of products on the basis of specialized enterprises. The necessity of state support for the production of livestock products based on small and medium-sized enterprises is substantiated. This will effectively combine the processes of increasing the production of livestock products with the environmental friendliness of production and steady improvement of quality. It is shown that the low quality of certain livestock products in Ukraine is caused by insufficient living standards of the population and low incomes of the majority of households, which cause them to consume low quality products. It is determined that the problem of guaranteeing the quality of livestock products in Ukraine has deep roots cause due to the influence of socio-economic factors. Therefore, a comprehensive approach is needed to solve it, which is not limited to improving the efficiency of the state control system and successfully harmonizing of the Ukrainian technical regulation system with the European one. The problem of low quality and the danger of livestock production requires a systematic approach for its solution, which is not limited, in particular, by measures to improve the system of state control and ensure approximation of the domestic technical regulation system to the European one. In Ukraine, major high-quality animal products are economically inaccessible to a large part of households. The projected increase in safety parameters and a certain improvement in the quality of livestock products as a result of the implementation of regulations adopted in 2014-2017, will necessarily lead to an increase in its value, and therefore may lead to a decrease in market demand and even greater inaccessibility of these products to people. All this can only aggravate the situation with guaranteeing the food security of the country, forming the prerequisites for increasing the intellectual capacity of the nation. (shrink)

In the 1960s Mancur Olson and Samuel Huntington suggested that the positive correlation between per capita income and the level of sociopolitical destabilization that they detected for low and middle income countries might be partly accounted for by the growth of the inequality associated with the economic and technological development in these countries. The empirical tests we perform generally support this hypothesis, but they also identify certain limits for such an explanation. Our tests reveal for low and middle (...) income countries a statistically significant correlation between GDP per capita and the economic inequality levels, but this correlation is not particularly strong. Earlier we found for the same countries significantly stronger positive correlations between GDP per capita and some important components of sociopolitical destabilization, such as the intensity of political assassinations, general strikes and anti-government demonstrations. It is quite clear that the strong association between the increase in the intensity of these components of sociopolitical destabilization and GDP per capita growth, can be explained by a much weaker tendency toward the growth of economic inequality only partly. In addition, our empirical tests suggest the presence of a certain threshold level of about 40 points on the Gini scale, after crossing which one can expect a radical increase in levels of sociopolitical destabilization in general, and the intensity of terrorist acts / guerrilla warfare and anti-government demonstrations in particular. According to the World Bank, the value of the Gini coefficient for Russia is now just in this zone, which suggests that the further growth of inequality in Russia could lead to an abrupt increase in political destabilization. (shrink)

Psychological well-being is a major global concern receiving more scholarly attention following the 2008 Great Recession, and it becomes even more relevant in the context of COVID-19 outbreak. In this study, we investigated the impact of economic uncertainty resulting from natural disasters, epidemics, and financial crisis on individuals' mental health. As unemployment rate exponentially increases, individuals are faced with health and economic concerns. Not all society members are affected to the same extent, and marginalized groups, such as those (...) suffering from chronic mental illnesses or low-income families cannot afford the downsizing, mass lay-offs and lack of access to public health services. Psychiatric profession is familiarized with the phenomenon of intolerance of uncertainty (IU), and we examine how this concept is associated with job uncertainty and social identity disturbance. Several studies have formally investigated the effects of IU, but to our knowledge, this is the first research integrating the psychological well-being, job uncertainty and identity disturbance caused by economic breakdown. Literature points to many reported cases of PTSD, anxiety, depression and suicidal tendencies following major social disasters. Yet, we have undertaken to analyze the subjective experiences underlying the self-harming behaviors in an attempt to fill the methodological gap by drawing insights from prominent psychological, sociological and economic theories. We find economic uncertainty to have a positive relation to job uncertainty and identity disturbance, and a negative relationship with psychological well-being. Psychological well-being depends on coherency between both abstract subjective and concrete objective identity, and when these perceptions are inconsistent, cognitive dissonance arises resulting in identity disturbance. We argue that stability is not associated with monetary advantage only, but also with a wide range of other benefits that are crucial for individuals' growth, satisfaction and sense of identity. Therefore, we propose the implementation of social support and public welfare policies to mitigate health risks during the turbulent socio-economic changes. -/- . (shrink)

Before pandemic the world economy had a pre-crisis situation which was characterized by unprecedented imbalances in the global financial and economic system, the lack of growth in world GDP, which posed a real threat to the world economic order. Almost all global analysts predicted a global economic crisis at the end of 2019. For the first time since time immemorial, bank interest rates in all countries have dropped to unprecedented low levels. Often interest rates were 0% (...) or even negative. The EU’s financial system has been so disfigured by the VAT tax that fraud with this tax has reached a scale far exceeding hundreds of billions EUR and in fact got out of control of the authorities. (shrink)

This essay is my review of economist Mark Skousen’s book, The Big Three in Economics. In it, he discusses the economic work of Adam Smith, Karl Marx, and John Maynard Keynes. He gives even-handed treatments of the major contributions of each, for example, Smith’s reputation refutation of mercantilist policies and Smith’s crucial insight into the role that division of labor plays in economic growth. My only complaint is that Skousen doesn’t adequately explain his choice of Marx as (...) a great economist. What enduring contributions did he make to the field? Why name him rather than (say) David Ricardo? (shrink)

(Expected) adverse effects of the ‘ICT Revolution’ on work and opportunities for individuals to use and develop their capacities give a new impetus to the debate on the societal implications of technology and raise questions regarding the ‘responsibility’ of research and innovation (RRI) and the possibility of achieving ‘inclusive and sustainable society’. However, missing in this debate is an examination of a possible conflict between the quest for ‘inclusive and sustainable society’ and conventional economic principles guiding capital allocation (including (...) the funding of research and innovation). We propose that such conflict can be resolved by re-examining the nature and purpose of capital, and by recognising mainstream economics’ utilitarian foundations as an unduly restrictive subset of a wider Aristotelian understanding of choice. (shrink)

Despite concerted efforts to nurture SMMEs through a number of methods, including LED initiatives, a high failure rate persists in South Africa. As the quest for a sustainable solution continues, this paper investigates the challenges that SMMEs face in the context of the Bushbuckridge Local Municipality (BLM). The quantitative approach was adopted for data collection. Through the use of a survey questionnaire, data were collected from a sample of fifty owners/managers who were reached through the stratified sampling technique. The study (...) singled out lack of financial assistance, managerial skills, inaccessible global markets as the most dominant challenges to the development of SMMEs apart from the high crime rate and the fear of xenophobia. Lack of technology and insufficient government support received far lesser approval from participants as these were perceived to have less impact on SMMEs growth. This paper draws attention to the ineffectiveness of LED programmes at the grassroots level with specific reference to rural municipalities. (shrink)

The aim of the article. The aim of the article is to identify the components of social and economic systems life cycle. To achieve this aim, the article describes the traits and characteristics of the system, determines the features of social and economic systems functioning and is applied a systematic approach in the study of their life cycle. The results of the analysis. It is determined that the development of social and economic systems has signs of cyclicity (...) and is explained methodologically by the axiomatics, rules and laws. Understanding of circular patterns has been formed long ago and now is recorded by scientists monitoring the properties of natural and artificial environment of human activity. During the study, it was found out that in scientific literature there is no unified description of the life cycle elements of social and economic systems at personal, micro, meso, macro and global levels. The paper investigates the cyclical patterns in multilevel social and economic systems for a human, employee, family, product, company, city, industry, elite, macroeconomic indicators, humanity, global processes, global economic system and the Universe. It is noted that at grass-roots administrative levels of the global environment of a human life activity system, a thesis about the cyclicity of development and the stages of the life cycle is considered by a wide circle of scientists and is doubtless. On hierarchically higher management levels of the global environment of human activity system, the scientists noticed the similar patterns of the cyclical nature. Problematic and discussion questions about cyclic development of social and economic systems are identified: the uncertainty of the driving force source of repeated changes; the vague distinction between systemic (internal) and off-system (external) influence on development; the lack of a unified description of development nature at different managerial levels; the use of different descriptive terms for the same constituent elements of repeated changes (period, stage, phase, wave, cycle); the uncertainty of the number of repeated changes constituent elements; the absence of an identification mechanism of the exact time of changes in the constituent elements of repeated changes; the surface description of out-of-system period of the subjects activity («before-system» period of creation and «after-system» period of liquidation); attaching more importance to primary and less importance to ultimate component elements of the repeated changes; the lack of reliable mechanism for predicting and forecasting the dynamics of constituent components of repeated changes. It is noted that all social and economic systems are developed within repeated changes and they have the same attributes of cyclicity: the fluctuation of indicators is marked that characterize the condition of the subject; the presence of system (from creation to liquidation) and out-of-system (creation – «design» and liquidation – «disposal») periods are noted; the subjects are created by the actions of other subjects (that is, subjects do not arise «out of nowhere», but are the result of actions of other subjects – «constructors»); after cessation of subjects functioning, their resources are used by other subjects (that is, the subjects do not disappear «nowhere», and they are transformed into the resources of other subjects – «recovery»); a unidirectional life cycle from «birth» to «death» is observed in the subjects; the subjects do not have to undergo the whole life cycle (each time might be the last); the subjects display similar changes of the indicators during their activity; ascending, peak and descending fluctuations of indicators are observed in the subjects; minor fluctuations occur in the constituent elements; the subjects have individual nature of indicator fluctuations and duration of activity. Conclusions and directions of further researches. The scientific novelty of the study is identification structure of life cycle of social and economic system with definitions of: common («before-system state», «growth», «stabilization», «reduction», «after-system state») and specific («creation», «slow growth», «rapid growth», «growth stabilization», «short stabilization», «rapid reduction», «slow reduction», «liquidation») constituent elements of repeated changes; marginal borders of indicators; dynamics of constituent elements of life cycle; key points of changing nature of the indicators dynamics. Identification of the life cycle of social and economic systems characterizes potentially possible limits of their activity in time and provides the possibility of further research of aspects of the cyclical development for methodological basis formation and the development of applied measures of systemic development in the areas of marketing and management innovations. (shrink)

The current economic crisis caused by the COVID-19 pandemic has created new changes and challenges for society, which has led to a deeper identification of pressing problems and to develop strategies and models for overcoming crises in various countries, industries and businesses. The formation and improvement of modern strategies and models of crisis management is impossible without optimizing the resources of economic entities, providing assistance at various levels of government to support priority sectors of the economy, finding additional (...) sources of funding to combat the COVID-19 pandemic. To ensure the effective develop and implementation of modern strategies and models of crisis management it is necessary to have information about the state of economic entities, relevant commodity, raw materials, financial markets, explore the internal and external environment, determine the impact of risks on current activities business entities or industries. The effectiveness of crisis management strategies and models is determined by the ability of the management system to ensure the support of business activity of economic entities in the relevant market and to stimulate effective consumer demand. The purpose of writing this scientific monograph is to substantiate the theoretical and methodological foundations and to form and improve strategies and models of crisis management taking into account new changes and challenges for society related to the COVID-19 pandemic and declining business activity of economic entities. The object of the author’s research was the process of formation and improvement of crisis management strategies and models in the conditions of market imbalance and change of the external environment, reduction of activity volumes of economic entities, growth of budget expenditures to combat the COVID-19, formation of new forms of activities and penetration of information technology into various spheres of life to optimize the negative consequences of a pandemic. The subject of the study were socio-economic, organizational and institutional processes of formation and effective implementation of strategies and models of crisis management in various areas of economic activity; substantiation of mechanisms for ensuring the competitiveness of economic entities and the formation new forms of entrepreneurship; development of modern information technologies; consideration of best practices in business process management and digitalization using world experience in various sectors of the economy caused by the COVID-19. (shrink)

Abstract : This research work examined how major macro economic variables in Nigeria such as Gross Domestic Product (GDP), Gross Fixed Capital Formation (GFCF) and National Savings (NS) reacted to International Monetary Fund (IMF) conditionality from 1986 to 2016. Many policy makers and researchers have questioned the benefits of IMF credit facilities to developing nations. This work therefore seeks to evaluate the impact of IMF conditionality like Reduction in Government Expenditure (TGE), Devaluation of Local Currencies (RER), and Trade openness (...) (TO) on the Identified Macro Economic Variable in Nigeria. The data for the analysis were sourced from the data bank of World Bank. Granger causality test and ordinary Least Square (OLS) method were used to test the formulated hypotheses. The result revealed that IMF conditionality has significant effect on GDP, GFCF and NS of Nigeria. Devaluation of local currency is the greatest IMF conditionality that exerts great negative influence on economic growth of Nigeria. The work recommends among others that: instead of currency devaluation, protectionist policies via guided liberalization should be promoted combined with the use of fiscal policy in order to encourage local production and usage of locally produced goods. TGE that showed significant positive effect on GDP, GFCF and NS is an indication that government can positively influence the economic positions of Nigeria with the use of fiscal policy. (shrink)

This paper investigated "The Parable of the Talents and Economic Management: Lessons for the Nigerian Nation." The subject matter of economic management in Africa in general and Nigeria, in particular, is one that concerns nearly every discipline, and which has inevitably lent itself to much pontification by economist and non-economist alike. Nigeria evolved as a nation-state in 1914 due to the amalgamation of diverse independent nationstates by the British under Lord Frederick Lugard. Since then, it has evolved different (...) economic principles, especially with the discovery of oil in Oloibiri. Historically, the Nigerian economy showed early signs of growth but is currently in a state of recession irrespective of all the economic policies by different administrations. This is contingent on mismanagement of the country's economic and human resources. The main issue that should be in the mind of researchers now is not the inevitability of recession, but its cure and how to recover from it. It is on this note that this paper looked at the Parable of the Talents according to Matt. 25:14-30 using the principle of exegesis in the interpretation of the text. It anchors its submission using the principle of accountability and Maslow's theory of motivation to chart the pathway for the management of the Nigerian economy. The paper concluded that for the proper management of Nigeria's economy there must be accountability, motivation, dignity of labour and giving of appointments base on the capacity of a worker. (shrink)

During the second half of 20th century, with work demands increasingly encroaching on family and personal time at a faster pace, employers acknowledged the need of work-life balance programmes to facilitate employees maintain a healthy balance between the conflicting demands of their work and personal life. Availability of work-life balance facilities to employees witnessed a phenomenal growth between the late eighties of the 20th century and early years of the 21st century. This growth has been abruptly interrupted by (...) the current economic downturn. Increasing numbers of organisations, in the name of cost cutting, have either curtailed work-life balance facilities or are contemplating to do the same. This paper analyses the emergence of work-life balance discourse, from the days of early communal living till the present day theories, and presents a macro level model of work-life balance. Further, a detailed analysis of proven and anticipated benefits of work-life balance is presented to justify the need of work-life balance initiatives at organisational level during the present economic downturn. (shrink)

In the last six decades, work life and family life spheres of employees have undergone various changes. This paper presents an empirical study of major factors which have influenced employee work-life balance and popular work-life balance tools initiated at organisational level to help an employee balance different life segments such as work, family, personal finances, career and health. Current work-life balance approach, tools and programmes at organisational level primarily address those issues of work and personal life which got highlighted between (...) the 1950’s and later years of the 20th century. Current global recession in the 21st century has created an uncertain economic scenario in which employers and employees are facing new challenges and earlier work-life balance research might not be sufficient enough address the new issues. This calls for further research on work-life balance, for a wider applicability of work-life balance programmes at organisational level. (shrink)

The first group of articles attempt to give some insight into how we behave that is reasonably free of theoretical delusions as shown by reviews of books by leading authors in philosophy and psychology, which as I note can be seen as the same discipline in many situations. In the next section I comment on very basic confusions where one might least expect them – in science and mathematics. Next, I turn to confusions where most people do expect them—in religion (...) (i.e., in cooperative groups formed to facilitate reproduction). Finally, I provide some viewpoints on areas where all the issues come together—economics and politics. -/- The key to everything about us is biology, and it is obliviousness to it that leads millions of smart educated people like Obama, Chomsky, Clinton and the Pope to espouse suicidal utopian ideals that inexorably lead straight to Hell on Earth. As Wittgenstein noted,it is what is always before our eyes that is the hardest to see. We live in the world of conscious, deliberative linguistic System 2, but it is unconscious, automatic reflexive System 1 that rules. This is the source of the universal blindness described by Searle’s The Phenomenological Illusion (TPI), Pinker’s Blank Slate and Tooby and Cosmides’ Standard Social Science Model. -/- America and the world are in the process of collapse from excessive population growth. The root cause of collapse is the inability of our innate psychology to adapt to the modern world. This, plus ignorance of basic biology and psychology, leads to the social engineering delusions of the partially educated who control democratic societies. Hence my essay “Suicide by Democracy”. It is also now clear that the seven sociopaths who rule China are winning world war 3, and so my concluding essay on them. The only greater threat is Artificial Intelligence which I comment on briefly in the last paragraph. (shrink)

Tourism sector has been considered as the crucial sectors of many different countries of the world. And sustainable tourism brings enormous scope as a rapid growing economic sector on the basis of foreign exchange earnings and generation of employment opportunity and thereby elevating poverty from the country. The central aim of this study is to investigate the role of sustainable tourism in alleviating poverty from developing countries, especially the northern part of Bangladesh. For this purpose, the different tourism sites (...) have been selected that are situated in Rajshahi region like Padma Garden, Varendra Museum and Shaheed Kamruzzaman Zoo. Rajshahi, the major tourist destination region in Bangladesh which is very beautiful and flourished that has a great chance to contribute country’s infrastructure and economic development. This study conducts a survey on 200 respondents in three different places of Rajshahi through the structured questionnaires, observation, interview and literature review. An exploratory research method was employed because the nature of the study was descriptive due to the fact that most of the respondents were illiterate or semi illiterate. Besides IBM SPSS Statistics 20 is being used to analyze the data. Through the factor analysis and other measurements tools this study expatiates the social, cultural, economic, environmental and other factors which touching the sustainability of Rajshahi and also provide recommendations about the required steps that needs to be taken into account to palliate and to manage the drawbacks of tourism to make Rajshahi as a sustainable tourism destination. Besides it reveals the relationship between tourism development and poverty alleviation in Bangladesh. The study also suggested few ways by which existing tourism can be promoted and well developed in Bangladesh thereby ensuring sustainable tourism development (STD) and economic growth. (shrink)

New technologies are often radical innovations that change current activities across different areas of social and economic life. At the beginning of the 21st century, some of these technologies are information and communications technology, nanotechnology, biotechnology, robotics, and artificial intelligence. These innovations stimulate new opportunities for the production, distribution, and consumption of goods and services, and thus can help solve social problems. But they also cause new social risks and inequalities.

For a long time, economic growth has been seen as the most promising source of funds to use toward reducing economic inequality, as well as a necessity if we are aiming at achieving full employment. But one of the most troubling aspects of the recent exponential rise in economic inequality is that this rise has occurred despite continued economic growth. Increases in national income have gone almost exclusively to the super-rich, while real wages for (...) almost everybody else have stagnated or even declined. And while the unemployment rate dropped significantly before the coronavirus pandemic hit, good, permanent, high-wage jobs with benefits had by then often been replaced by temporary, part-time, low-wage jobs without benefits, leaving even the employed feeling economically insecure. And now, of course, unemployment is again skyrocketing, and it is unclear how long it might take to come down. As a result, we have now arrived at a point of reckoning: can we continue to believe that liberal capitalism is the most promising combination of economic and political ideologies for securing a prosperous and just future? If not, what might replace it? Is the problem capitalism, or is it liberalism? Are we up against economic forces that we cannot influence or control, or is it our political will and the liberal values we endorse that are being tested? This paper looks at all these questions, and suggests how we might think about the prospects for a liberal future. (shrink)

Technological unemployment is a situation when people are without work and seeking work because of innovative production processes and labor-saving organizational solutions.

This study explores entrepreneurship research in Vietnam, a lower-middle-income country in Southeast Asia that has witnessed rapid economic growth since the 1990s but has nonetheless been absent in the relevant Western-centric literature. Using an exclusively developed software, the study presents a structured dataset on entrepreneurship research in Vietnam from 2008 to 2018, highlighting: low research output, low creativity level, inattention to entrepreneurship theories, and instead, a focus on practical business matters. The scholarship remains limited due to the detachment (...) between the academic and entrepreneur communities. More important are the findings that Vietnamese research on entrepreneurship, still in its infancy, diverges significantly from those in developed and emerging economies in terms of their content and methods. These studies are contextualized to a large extent to reflect the concerns of a developing economy still burdened by the high financial and nonfinancial costs. (shrink)

How much value can our decisions create? We argue that unless our current understanding of physics is wrong in fairly fundamental ways, there exists an upper limit of value relevant to our decisions. First, due to the speed of light and the definition and conception of economic growth, the limit to economic growth is a restrictive one. Additionally, a related far larger but still finite limit exists for value in a much broader sense due to the (...) physics of information and the ability of physical beings to place value on outcomes. We discuss how this argument can handle lexicographic preferences, probabilities, and the implications for infinite ethics and ethical uncertainty. (shrink)

In July 2017, China’s State Council released the country’s strategy for developing artificial intelligence, entitled ‘New Generation Artificial Intelligence Development Plan’. This strategy outlined China’s aims to become the world leader in AI by 2030, to monetise AI into a trillion-yuan industry, and to emerge as the driving force in defining ethical norms and standards for AI. Several reports have analysed specific aspects of China’s AI policies or have assessed the country’s technical capabilities. Instead, in this article, we focus on (...) the socio-political background and policy debates that are shaping China’s AI strategy. In particular, we analyse the main strategic areas in which China is investing in AI and the concurrent ethical debates that are delimiting its use. By focusing on the policy backdrop, we seek to provide a more comprehensive and critical understanding of China’s AI policy by bringing together debates and analyses of a wide array of policy documents. (shrink)

Competitive negotiators frequently use tactics which others view as "unethical", in that these tactics either violate standards of truth telling or violate the perceived rules of negotiation. This paper sought to determine how business students viewed a number of marginally ethical negotiating tactics, and to determine the underlying factor structure of these tactics. The factor analysis of these tactics revealed five clear factors which were highly similar across the two samples, and which parallel categories of tactics proposed by earlier theory. (...) Data from one sample also permitted comparisons of the appropriateness of certain tactics across gender, nationality, ethnic origin and perception of one's negotiating style. (shrink)

The culture-economy dialectic (CED) – the opposition of the concepts and phenomena of culture and economy – is one of the most important ideas in the modern history of ideas. Both disciplinary boundaries and much theoretical thought in social science are strongly influenced or even determined by the CED. For that reason, a thorough analysis and evaluation of the CED is needed to improve understanding of the history of ideas in social science and the currently fashionable research on the cultural (...) influences on economic differences between countries and regions. This thesis is an attempt to do just that. The concepts of “culture” and “economy” (and related concepts) and the (assumed) relations therebetween are compared and analyzed. Empirical results from earlier studies are summarized and some new test are presented. These new tests are partly based on a measurement of Dutch regional culture. However, most theories of the CED are (nearly) impossible to verify (empirically). There appears to be some influence of wealth on specific cultural phenomena (such as individualism and post-materialism), but the often assumed influence of culture on entrepreneurship and economic growth remains unconfirmed. Moreover, from an analysis of the theories themselves, it appears that most of these cannot be falsified and are, therefore, hardly 'scientific'. Many of the theories of the CED and, in fact, many theories of social science in general are of a conceptual rather than a causal nature. These theories cannot be falsified (or verified) by empirical means alone, but must be studied by means of conceptual analysis. In the final conclusions, this thesis, therefore, argues for conceptual analysis in – and a more anarchist approach to – social science. (shrink)

Currently, under the conditions of permanent financial risks that hamper the sustainable economic growth in the financial sector, the development of evaluation and risk management methods both regulated by Basel II and III and others seem to be of special importance. The reputation risk is one of significant risks affecting reliability and credibility of commercial banks. The importance of reputation risk management and the quality of their assessment remain relevant as the probability of decrease in or loss of (...) business reputation influences the financial results and the degree of customers’, partners’ and stakeholders’ confidence. By means of imitating modeling based on Bayesian Networks and the fuzzy data analysis, the article characterizes the mechanism of reputation risk assessment and possible losses evaluation in banks by plotting normal and lognormal distribution functions. Monte-Carlo simulation is used to calculate the probability of losses caused by reputation risks. The degree of standardized histogram similarity is determined on the basis of the fuzzy data analysis applying Hamming distance method. The tree-like hierarchy based on the OWA-operator is used to aggregate the data with Fishburne's coefficients as the convolution scales. The mechanism takes into account the impact of criteria, such as return on equity, goodwill value, the risk assets ratio, the share of the productive assets in net assets, the efficiency ratio of interest bearing liabilities, the risk ratio of credit operations, the funding ratio and reliability index on the business reputation of the bank. The suggested methods and recommendations might be applied to develop the decision-making mechanism targeted at the implementation of reputation risk management system in commercial banks as well as to optimize risk management technologies. (shrink)

Several philosophers have recently argued that policies aimed at reducing human fertility are a practical and morally justifiable way to mitigate the risk of dangerous climate change. There is a powerful objection to such “population engineering” proposals: even if drastic fertility reductions are needed to prevent dangerous climate change, implementing those reductions would wreak havoc on the global economy, which would seriously undermine international antipoverty efforts. In this article, we articulate this economic objection to population engineering and show how (...) it fails. We argue, first, that the economic objection paints an inaccurate picture of the complicated relationship between demographic change and economic growth, and second, that any untoward economic effects of fertility reduction can be mitigated with additional policies. Specifically, we argue that supplementing fertility reduction with policies that facilitate the emigration of younger people from developing nations to developed nations could allow for both global reductions in GHG emissions and continued economic stability. Further, we show that moral arguments against such unprecedented increases in immigration are unsuccessful. We conclude that population engineering is a practical and morally justifiable tool for addressing the twin evils of climate change and global poverty. (shrink)

The rapidly declining biosphere integrity, representing one of the core planetary boundaries, is alarming. One of the most widely accepted measures to halt the rate of biodiversity loss is to maintain and expand protected areas that are effectively managed. However, it requires substantial finance derived from nature-based tourism, specifically visitors from urban areas. Using the Bayesian Mindsponge Framework (BMF) on 535 Vietnamese urban residents, the current study examined how their biodiversity loss perceptions can affect their willingness to pay for the (...) entrance fee and conservation in protected areas. We found that perceived environmental degradation, loss of economic growth, loss of nature-based recreation opportunity, and loss of knowledge as consequences of biodiversity loss has indirect effects on paying willingness through the mediation of the attitude towards conservation. Especially, the perceived knowledge loss also has a direct positive influence on the willingness to pay for the entrance fee and conservation. In contrast, perceived loss of health is negatively associated with the attitude towards conservation. Based on these findings, we suggest that building an eco-surplus culture among urban residents can be a promising way to generate more finance from nature-based tourism for conservation in protected areas and ease the domestic government's and international organizations' funding allocations problems. (shrink)

Over the last 30 years the Indian philosopher-economist Amartya Sen has developed an original normative approach to the evaluation of individual and social well-being. The foundational concern of this ‘capability approach’ is the real freedom of individuals to achieve the kind of lives they have reason to value. This freedom is analysed in terms of an individual’s ‘capability’ to achieve combinations of such intrinsically valuable ‘beings and doings’ (‘functionings’) as being sufficiently nourished and freely expressing one’s political views. In this (...) account, ‘development’ is conceived as the expansion of individuals’ capability, and thus as a concept that goes beyond the economic growth of third world countries. My thesis is a philosophical examination of Sen’s capability approach. In the first part (chapters 1-3) I present and defend my interpretation of Sen’s work. (shrink)

The thesis contains three empirical studies into economic effects of infrastructure, focusing on different aspects of the Vietnamese economy during the period 2000-2007, namely, economic growth, private sector employment, and private sector location choices. In addition, the empirical studies explicitly take into account the potential existence of cross-province transport infrastructure spillovers. By estimating empirical models specified in accordance with the relevant literature and the context of the Vietnamese economy, and subject to the availability of data, the thesis (...) obtains the following main findings. Firstly, there is evidence of a positive impact of transport infrastructure on economic growth, on private sector employment, and on private sector location choices. Secondly, sectoral differences in the impact of transport infrastructure are identified in the location choice analysis. Thirdly, the cross-province transport infrastructure spillovers cannot be seen in the growth analysis; whereas, there is some evidence of a negative spillover effect on private sector employment. In the location choice analysis, the evidence of spillovers varies dramatically. Finally, higher-education infrastructure, which is assumed to be associated with the capacity of qualified labour supply, is positively related to both private sector employment and location choices. (shrink)

Plato claimed that morality exits to control conflict. Business people increasingly are called upon to resolve moral conflicts between various stakeholders who maintain opposing ethical positions or principles. Attempts to resolve these moral conflicts within business discussions may be exacerbated if disputants have different communicative styles. To better understand the communication process involved in attempts to resolve a moral dilemma, we investigate the "discourse ethics" procedure of Jürgen Habermas. Habermas claims that an individual's level of moral reasoning parallels the type (...) of communication which that individual typically uses in attempts to resolve conflict. Our research focuses upon the relationship between the communicative style used by participants attempting to resolve a particular moral dilemma involving workplace safety and the level of moral reasoning possessed by those participants. The results of our study suggest that, contrary to Habermas' views, participants with "higher" levels of moral reasoning do not use "discursive" communicative tactics more frequently than participants that possessed "lower" moral reasoning. (shrink)

This study focuses on the differences in the perception of business ethics across two groups of management students from France and Romania (n = 220). Data was collected via the ATBEQ to measure preferences for three business philosophies: Machiavellianism, Social Darwinism, and Moral Objectivism. The results show that Romanian students present more favorable attitudes toward Machiavellianism than French students; whereas, French students valued Social Darwinism and Moral Objectivism more highly. For Machiavellianism and Moral Objectivism the results are consistent with the (...) literature and our hypotheses. However, contrary to our expectations, we find that Social Darwinism is more important in France than Romania. The results indicate that religious practice does not influence preferences for the three business philosophies. In terms of gender differences, women have less favorable attitudes toward Machiavellianism and more favorable attitudes toward Moral Objectivism than men. (shrink)

Socioeconomic inequalities are functions not only of intrinsic differences between persons or groups, but also of the dynamics of their interactions. Inequalities can arise and become stabilized if there are advantages (such as generalized wealth including “human capital”) which are self-enhancing, whereas depletion of limiting resources is widely distributed. A recent theory of biological pattern formation has been generalized, adapted and applied to deal with this process. Applications include models for the non-Gaussian distribution of personal income and wealth, for overall (...) economic growth in relation to inequalities and for effects of uncoupling strategies between developing and developed countries. Note added after publication: The equations (14) for the model of the income distribution, with its characteristic non-Gaussian extension towards higher incomes (fig.4), are closely related to the Fokker-Planck equation that is widely applied in many fields of physics. (shrink)

Arab countries have adopted market economy principles and pursued policies designed to strengthen their economies. The cornerstone of Arab countries' long-term economic objectives has been to increase trade and support economic growth via regional and global integration. To this end, Arab countries are attempting to broaden their engagement in the multilateral trading system by joining the World Trade Organization (WTO). In addition, some Arab countries entered into trade arrangements with the United States (U.S.) to foster economic (...) development, attract investment, and develop peaceful relationship. These trade agreements carry several implications for local economies. (shrink)

The economy is based on the prevailing legal system; however, the economy could go into a tailspin if the laws lose their impartiality. A perfect worker creates infinite high value with limited cost, and the result is a perfect product, usually eternal knowledge. However, free access to their products discourages workers, causing a substantial deviation from optimal resource allocation, and thereby making the supply of perfect products seriously inadequate. This significantly hurts the interests of future society. To maximize the overall (...) interests of humankind, the best policy would be to produce perfect products expeditiously, which in turn requires correcting the value society places on perfect products to respect the interests of perfect workers and future generations. Future society should essentially buy licenses from perfect workers instead of lending money to modern society for consumption. Then, the one-way trade between the present and the future will greatly increase. New companies and services will emerge around perfect products, and long-term economic growth rates will increase significantly. (shrink)

Aim/PurposeThis paper is a review of the progress of the Vietnam socio-economic and development plan and an assessment of the extent to which Vietnam is putting in place the critical social and economic development structures that will enable it to reach the status of “developed nation” in the time set (2020) by its national strategic plan. The research will identify and review trade patterns, trade policy and the effect of foreign aid on Vietnam’s plan to transform its economy (...) and society from a developing nation status to status of developednation. The overriding question stands as “is” Vietnam effec-tively moving towards developed nation statussoon”?BackgroundThis paper examines the history of Vietnam from the command economy in its transition to a market driven economy, the criteria, hurdles and challenges as the country moves towards a developed country status. MethodologyApplied research based on the body of research in socio-economic develop-ment theory, international trade and market theory. The review is conducted by collecting and analyzing data on foreign trade, foreign aid, business and general economic growth, development and social wellbeing. Itidentifies and appraises the trade patterns,trade effects, socio-economic policies and the effect of foreign aid] on the economic growth and the progress of the coun-try towards becoming a developed nation state. (shrink)

The legal progression in China is portrayed negatively by western scholars who often argue that the state institutions in China are subordinate to the control of Chinese Communist Party’s leadership which makes these institutions politically insignificant. We consider that the legal progression in China has an instrumental role in achieving “Harmonious Socialist Society.” The purpose of this thesis is to provide an analytical literature review of scholastic work to explain the legality of rule of law in China and to elaborate (...) the outcomes of China’s recent legal developments. This paper has two main subjects. First, it examines the nature of law and rule of law in China through the prism of different legal theories. Secondly, by arguing from different political theories, it explains the necessity of customized legal system in China for establishing a Harmonious Socialist Society. By giving different examples from contemporary China, this thesis argues that the legality of the rule of law in China ought to be understood in the context of China’s economic and social progression rather than the western legal scholarship. China’s economic progress demands a customized legal system. In our thesis, we claim that the regular upgradation of laws and introduction of constitutional amendments in China, should be recognized as important achievement which is required for the institutional innovation. Legal progression in China during last decade perfectly fit into the framework of “Socialism with Chinese Characteristics” and is very crucial for building a harmonious socialist society. It is vivid from China’s economic growth and developed international relations. Finally, this paper suggests that the Chinese legal progression can be taken as successful example of legal experimentalism. (shrink)

Recent feminist critiques of development have questioned some fundamental assumptions of feminist political theory; such critiques have also been successful in subverting long-held assumptions of conventional economic development. Viewed in the context of women’s subordination in third world countries, a redefinition of development must not only be about economic growth, but ensure a redistribution of resources, challenge the gender-based division of labour and also seek to provide for an egalitarian basis in social arrangements. Further, as this article (...) argues, any starting point for feminist critiques of development must also seek to link the end of gender oppression to multiple theories of justice – a justice not juridical but one that recognises the cultural membership of women in the community. (shrink)

Climate change – and its most dangerous consequence, the rapid overheating of the planet – is not the offspring of a natural procedure; instead, it is human-induced. It is only the aftermath of a specific pattern of conomic development, one that focuses mainly on economic growth rather than on quality of life and sustainability. Since climate change is a major threat not only to millions of humans, but also to numerous non-human species and other forms of life, as (...) well as to the equilibrium and the viability of the very planet, addressing it is of dire importance. In this chapter it will be argued that addressing the threat of climate change is primarily a task and a challenge for ethics, since the stabilization and gradual amelioration of the situation requires abandoning an up to now dominant model of life, longestablished customs and a so far cogent system of moral values. It will be further maintained that this for ethics might – or, even, should – become a new categorical imperative, since preserving the viability of the planet is a fundamental moral duty not only towards the existing members of the moral community, but also towards future generations. (shrink)

This study assessed external debts and the financing of education in Nigeria using time series data obtained from World Bank, and CBN Statistical Bulletin covering a period of 31 years from 1988 -2018. The model of the study was derived, while the data collected were analysed using the Ordinary Least Squares. Diagnostic tests such as Augmented Dickey- Fuller (ADF) unit root test, Johansen co-integration, Vector Error Correction (VEC) techniques of estimation, and Granger Causality tests were all performed. Findings revealed a (...) significant long-run relationship between external debts and the financing of education; external debts have a significant effect (F=39.07055, p<.05) on the financing of education in Nigeria; external debt stock and external debt service payment have no significant effect on the financing of education; real GDP and Exchange rate have a significant effect on the financing of education in Nigeria respectively. Based on these findings, it was concluded that external debt is a big hindrance to the financing of education and consequently, the economic growth of Nigeria. It was recommended amongst others that the government should use borrowed funds from external sources for productive capital projects or development initiatives such as investment in education and the eradication of illiteracy. (shrink)

Through the benefits of trade openness, diversification, and economic competitiveness, the UAE was successful in its economic endeavors by creating economic winners and protecting those who have been hurt by the embrace of globalization. The country also paid special attention to the issues of wealth distribution and fairness in the allocation of economic resources (inclusive globalization). The most important lesson from UAE’s economic growth is that strong formal institutions with sound vision designed to propel (...) economic development are keys for success. (shrink)