Every year, hundreds of patients in England die whilst waiting for a kidney transplant, and this is evidence that the current system of altruistic-based donation is not sufficient to address the shortage of kidneys available for transplant. To address this problem, we propose a monopsony system whereby kidney donors can opt-in to receive financial compensation, whilst still preserving the right of individuals to donate without receiving any compensation. A monopsony system describes a market structure where there is only (...) one ‘buyer’—in this case the National Health Service. By doing so, several hundred lives could be saved each year in England, wait times for a kidney transplant could be significantly reduced, and it would lessen the burden on dialysis services. Furthermore, compensation would help alleviate the common disincentives to living kidney donation, such as its potential associated health and psychological costs, and it would also help to increase awareness of living kidney donation. The proposed system would also result in significant cost savings that could then be redirected towards preventing kidney disease and reducing health disparities. While concerns about exploitation, coercion, and the ‘crowding out’ of altruistic donors exist, we believe that careful implementation can mitigate these issues. Therefore, we recommend piloting financial compensation for living kidney donors at a transplant centre in England. (shrink)

Ông Ban Ki-moon, cựu Tổng thư ký Liên hợp quốc hiện đang đóng vai trò Chủ tịch Global Center on Adaptation (GCA), mới có xác nhận tại Africa Climate Summit diễn ra ở Nairobi, về nguy cơ tình trạng thiếu thốn tài chính sẽ ngăn cản những tiến bộ tiếp theo, thậm chí đe dọa cả những kết quả tích cực về bảo tồn sinh thái đã đạt được, tại Châu Phi.

Châu Phi hiện được đánh giá là chịu tác động tiêu cực nặng nhất của cuộc khủng hoảng khí hậu, nhưng chỉ được phân bổ 3% tổng lượng tài chính thích ứng khí hậu, tài chính cần thiết để thiết kế chuyển đổi, thích ứng phương thức hoạt động kinh tế.

In a recent study by Cai et al. about water shortages in Beijing-Tianjin-Hebei urban areas, virtual water has become the central concept of the groundwater security strategy by suggesting increasing imports of water-intensive agricultural products instead of utilizing the depleted groundwater resources for production. However, despite reviewing the content, we could not see how the authors discussed the households’ economic and financial issues from both production and consumption perspectives.

Willingness and readiness of people to do their jobs are among the key factors of a successful enterprise. In XXI century intellectual human labour is gaining unprecedented value and is being developed actively. The demand for intellectual labour calls forth an increasing number of jobs and professions that require an extensive preparation, a large number of working places, high level of integration of joint human efforts, growth of social welfare. These trends are becoming ever more pervasive and are spreading widely (...) in service industries, and that explains the rapid development of the latter when compared to the traditional areas of human activity. In its turn, it heightens the need for staff in service companies, supported by significant personnel turnover and a certain shortage of skilled professionals. These circumstances determine the need for developing a new concept of fostering staff motivation at the enterprises in the sphere of services. In order to reach the stated purpose while conducting our research into tourism and hospitality industry, as well as retail chains, we have examined the problems that arise in the process of staff motivation, and studied the foreign practice of motivating staff in hotels. The obtained analysis results enabled us to work out practical recommendations on improvement of the mechanism of tangible and intangible rewards in service companies, which are based on external and internal motivational factors. Additional attention in the article is paid to the statement that financial incentives should be based on key performance indicators (KPI). We give a detailed consideration to the classification of internal motivation incentives of the staff according to the terms of their realization, and give a schematic representation of the performance dynamics of the internal motivation model in service businesses. (shrink)

There is a widely acknowledged shortage of and an increasing demand for transplantable human organs and tissues (e.g., kidney, heart, lung, liver, cornea) in developed and developing countries around the world. In response to this need, Lott and Savulescu (2007) propose the creation of a human embryonic stem (hESC) bank to facilitate the equitable and efficient dissemination of human leukocyte anti- gen (HLA) matched tissues and organs to patients in need of replacement. Although not an unreasonable proposal, the authors (...) go on to make a much stronger claim. They argue that hESCs are such important tools for addressing the massive unmet global need for organs that it is ethically justified to require mandatory banking of spare embryos, and they argue for the use of financial (or other) inducements to procure embryos for the derivation of hESCs. (shrink)

Why Capitalism Cannot Create More Successful Entrepreneurs to Balance Stable Job Creation Amid Increasing Population Growth -/- Introduction -/- Capitalism is often praised for fostering entrepreneurship, economic growth, and job creation. However, its inherent flaws—such as wealth concentration, monopolization, financial barriers, and wage suppression—prevent it from producing enough successful entrepreneurs to balance job creation with increasing population growth. As the global population expands, capitalism alone fails to generate sufficient employment opportunities, leading to economic instability, poverty, and inequality. -/- To (...) address these challenges, a balanced approach involving government intervention, socialist-inspired policies, population regulation, and a coordinated effort between private and public sector job creation is necessary. By ensuring economic stability, providing social safety nets, and aligning workforce growth with sustainable employment opportunities, societies can mitigate capitalism’s failures while maintaining its productive aspects. -/- 1. The Fundamental Flaws of Capitalism in Job Creation -/- While capitalism promotes competition and innovation, it also creates significant economic imbalances: -/- Wealth Concentration and Inequality: Over time, wealth accumulates among a few individuals and corporations, reducing opportunities for new entrepreneurs and limiting social mobility. -/- Monopolization: Large corporations dominate markets, pushing out small businesses and reducing job diversity. -/- Financial Barriers to Entrepreneurship: The cost of starting and sustaining a business is high, making it difficult for new entrepreneurs to compete. -/- Short-Term Profit Maximization: Companies prioritize short-term gains, often outsourcing jobs or automating processes to cut costs, rather than investing in long-term job creation. -/- Cyclical Economic Crises: Capitalist economies experience frequent recessions, leading to mass layoffs, business failures, and financial insecurity. -/- These issues make capitalism insufficient in creating enough businesses and stable jobs to match population growth. -/- 2. The Difficulty of Starting a Business and Its Impact on Job Creation -/- Despite the belief that anyone can succeed through hard work, starting a business remains a significant challenge due to: -/- High Initial Costs: Rent, inventory, equipment, and salaries require substantial capital. -/- Limited Access to Credit: Most banks and investors require collateral or proven profitability, which new entrepreneurs lack. -/- Complex Regulations: Navigating legal and tax systems is expensive and time-consuming. -/- Intense Market Competition: Large corporations benefit from economies of scale, making survival difficult for small businesses. -/- Due to these challenges, most aspiring entrepreneurs fail or remain in precarious financial positions, reducing their ability to contribute to long-term job creation. -/- 3. The Effect of Low Wages on Consumer Buying Power and Job Stability -/- One of capitalism’s biggest contradictions is its reliance on low wages to maximize corporate profits while simultaneously needing strong consumer demand to sustain business growth. -/- Reduced Consumer Demand: When workers earn low wages, they have less money to spend, weakening economic growth. -/- Increased Debt and Financial Instability: Many workers rely on credit for basic needs, making them financially vulnerable. -/- Job Insecurity and Precarious Work: Companies cut costs by hiring temporary workers or outsourcing jobs, leading to job instability. -/- By failing to pay workers a living wage, capitalism limits its own potential for sustainable economic growth, reinforcing inequality and restricting business expansion. -/- 4. Balancing Job Creation Between the Private and Public Sectors -/- To counteract capitalism’s job creation failures, a balanced approach that combines private sector entrepreneurship and government-led job creation is essential. -/- A. Private Sector Job Creation -/- The private sector should remain a driving force of economic innovation and employment, but it must be regulated to prevent exploitative practices. Governments can support private-sector job creation by: -/- Providing Financial Assistance to Startups: Low-interest loans and grants can help small businesses grow. -/- Ensuring Fair Competition: Antitrust laws prevent monopolies from dominating industries. -/- Raising Minimum Wages: Ensuring fair wages strengthens consumer spending and business stability. -/- Encouraging Ethical Business Models: Worker cooperatives and profit-sharing models can create sustainable, fair workplaces. -/- B. Government-Led Job Creation -/- Governments must step in where the private sector fails to provide sufficient employment opportunities. Public-sector job creation should focus on: -/- Infrastructure Development: Roads, bridges, schools, and renewable energy projects generate long-term employment. -/- Public Services Expansion: More jobs in healthcare, education, and social services create stable employment. -/- Green Economy Investments: Sustainable industries like clean energy and environmental conservation create new career paths. -/- Universal Job Guarantee Programs: Governments can offer public jobs in times of economic downturns to prevent mass unemployment. -/- By combining private-sector dynamism with public-sector stability, societies can ensure that job creation keeps pace with population growth. -/- 5. The Role of Population Regulation in Economic Stability -/- One of the critical yet often overlooked aspects of economic sustainability is aligning population growth with job availability. Unregulated population expansion can lead to: -/- Unemployment and Underemployment: More people entering the job market than available jobs create economic strain. -/- Increased Poverty and Social Unrest: Large unemployed populations lead to instability and higher crime rates. -/- Strain on Public Services: Overpopulation overwhelms healthcare, education, and infrastructure systems. -/- A. Family Planning and Education -/- Governments must implement policies that encourage responsible population growth through: -/- Access to Contraception and Family Planning Services: Ensuring reproductive health choices empower families to plan their future. -/- Educational Campaigns on Sustainable Population Growth: Teaching the economic impact of overpopulation helps societies make informed decisions. -/- Encouraging Gender Equality and Women’s Employment: Empowering women in the workforce naturally leads to lower birth rates and a more balanced economy. -/- B. Workforce and Immigration Planning -/- Instead of uncontrolled population growth, governments should focus on workforce planning to ensure that job creation aligns with demographic trends: -/- Targeted Immigration Policies: Encouraging skilled immigration in sectors with labor shortages helps maintain economic stability. -/- Retraining and Reskilling Programs: Adapting the workforce to emerging industries prevents large-scale unemployment. -/- Regional Job Distribution: Encouraging businesses to develop outside of major cities can balance employment opportunities across regions. -/- By coordinating population regulation with job market needs, economies can achieve sustainable development and avoid crisis-driven employment gaps. -/- 6. The Importance of Government and Central Bank Policies -/- To stabilize capitalism’s weaknesses, government and central bank intervention using socialist principles is essential. These policies include: -/- Progressive Taxation: Redistributing wealth to fund public services and entrepreneurship programs. -/- Public Investment in Education and Vocational Training: Preparing the workforce for new economic demands. -/- Job-Creation Programs: Investing in sectors that provide stable, long-term employment. -/- Monetary Policies that Promote Sustainable Growth: Controlling inflation, interest rates, and wage growth to prevent economic instability. -/- A coordinated economic strategy ensures that capitalism’s benefits are widely distributed, rather than concentrated among a wealthy elite. -/- 7. Conclusion: A Mixed Economic Model for Sustainable Job Growth -/- Capitalism, by itself, fails to create enough successful entrepreneurs and jobs to match population growth due to its systemic flaws. Wealth concentration, monopolization, financial barriers, and low wages prevent new businesses from thriving and workers from earning enough to sustain economic demand. -/- To correct these imbalances, a mixed economic model—combining capitalist entrepreneurship with government intervention, population regulation, and central bank policies—is necessary. By balancing private-sector innovation with public-sector job creation and aligning workforce growth with sustainable employment opportunities, societies can ensure economic stability, reduce inequality, and promote long-term prosperity. -/- Only through holistic economic planning can nations achieve stable job creation, entrepreneurship growth, and population balance, creating a future where economic progress benefits everyone, not just a privileged few. -/- . (shrink)

In Canada, there are currently no guidelines at either the federal or provincial level regarding the provision of kidney transplantation services to foreign nationals (FN). Renal transplant centres have, in the past, agreed to put refugee claimants and other FNs on the renal transplant waiting list, in part, because these patients (refugee claimants) had health insurance through the Interim Federal Health Programme to cover the costs of medication and hospital care. However, severe cuts recently made to this programme have forced (...) clinicians to question whether they should continue with transplants for FNs, for financial and ethical reasons. This paper first examines different national policies (eg, in Canada, USA, France and the UK) to map the diversity of approaches regarding transplantation for FNs, and then works through different considerations commonly used to support or oppose the provision of organs to these patients: (1) the organ shortage; (2) the free-rider problem; (3) the risk of becoming a transplant destination; (4) the impact on organ donation rates; (5) physicians’ duties; (6) economic concerns; (7) vulnerability. Using a Canadian case as a focus, and generalising through a review of various national policies, we analyse the arguments for and against transplantation for FNs with a view to bringing clarity to what is a sensitive political and clinical management issue. Our aim is to help transplant centres, clinicians and ethicists reflect on the merits of possible options, and the rationales behind them. (shrink)

The Illusion of the Pension Crisis in a Fiat Currency System -/- Introduction -/- Governments and financial institutions frequently warn of a looming pension crisis, claiming that aging populations will drain social security funds and leave future retirees without financial support. However, this narrative is fundamentally flawed. In a fiat currency system, where central banks can print money at will, the idea that there is a shortage of funds for pensions contradicts the basic mechanics of modern finance. (...) Instead, the so-called pension problem serves as a strategic tool to justify population growth, extend working years, and maintain economic control. This essay explores how the pension crisis is manufactured, why the economic system functions this way, and what alternatives could create a more sustainable future. -/- The Fiat Currency Illusion -/- Fiat money is not backed by a physical commodity like gold but instead derives its value from government decree and public trust. Central banks, such as the U.S. Federal Reserve or the European Central Bank, have the power to create unlimited money through digital printing. If governments truly wanted to fund pensions, they could simply issue more currency. The fact that they choose not to highlights that the real issue is not about money but about power, wealth distribution, and economic control. -/- However, printing excessive money can lead to inflation, which erodes purchasing power. If pensions were funded through unrestricted money printing, prices of goods and services would rise, making pensions effectively worthless. But inflation is not an unavoidable consequence—it is often a policy decision influenced by central banks and financial elites to preserve existing economic hierarchies. -/- The Manufactured Pension ‘Crisis -/- The claim that pension systems are unsustainable is rooted in economic and political agendas rather than financial reality. The following key factors reveal why this crisis is artificially constructed: -/- 1. Inflation and Devaluation -/- While governments can print unlimited money, excessive monetary expansion can reduce the value of currency. Instead of managing inflation in a way that supports pensions, policymakers often use it to justify cuts to social programs while maintaining corporate wealth and military budgets. -/- 2. Wealth Protection for the Elite -/- The financial system is designed to benefit the wealthiest individuals and corporations. Rather than directing resources toward pensions, governments prioritize corporate bailouts, financial markets, and debt repayment. By claiming pension funds are running out, they avoid policies that redistribute wealth to the working class. -/- 3. Debt-Driven Economic Model -/- Instead of simply issuing currency for pensions, governments prefer to borrow money, ensuring central banks and private lenders remain in control. This debt-based system forces economies to keep growing, making workers dependent on employment and discouraging early retirement. -/- 4. Manipulating the Workforce Through Scarcity -/- The fear of pension collapse forces people to work longer, delaying retirement and keeping the labor force full. This benefits corporations by ensuring a steady supply of low-cost labor, preventing worker shortages, and keeping wages down. -/- 5. Stock Market and Private Pension Funds -/- Many pension funds are invested in the stock market, making their stability dependent on financial speculation rather than real economic productivity. If governments funded pensions directly, there would be less reliance on volatile financial markets, reducing Wall Street’s control over retirement savings. -/- 6. Control Through Artificial Shortages -/- By creating the illusion of limited pension funds, governments encourage population growth to “replace” aging workers. However, this ignores the real issue—technological automation and AI are reducing the need for human labor, making more workers unnecessary in the long run. -/- The Contradiction: Population Growth vs. Economic Reality -/- Governments argue that a growing population is needed to sustain pension systems. However, creating jobs and starting businesses is becoming more difficult due to several factors: -/- Automation and AI – Many traditional jobs are disappearing as machines and software replace human labor. -/- Market Saturation – Many industries are already flooded with products and services, making new business opportunities harder to find. -/- High Cost of Business Entry – Large corporations dominate markets, making it difficult for small businesses to compete. -/- Regulatory Barriers – Governments impose taxes, licenses, and bureaucracy that make entrepreneurship expensive and complicated. -/- This contradiction exposes a fundamental flaw in the capitalist model: pushing for population growth while failing to create enough sustainable jobs and businesses. -/- Sustainable Alternatives to the Pension System -/- Instead of relying on the outdated idea that pensions must be funded by an ever-growing workforce, societies can adopt new models that ensure financial security without economic manipulation: -/- 1. Universal Basic Income (UBI) -/- Governments could provide a fixed income to all citizens, eliminating the need for complex pension systems and reducing dependence on wage labor. This could be funded through controlled money creation and taxation of high-wealth individuals and corporations. -/- 2. Resource-Based Economy -/- Shifting from a money-driven system to a resource-based economy would prioritize efficient use of materials, automation, and sustainable development instead of profit-driven overproduction. -/- 3. Circular Economy -/- Instead of producing unnecessary products to create jobs, societies could focus on recycling, repair, and sustainability, creating long-term employment in industries that benefit humanity and the planet. -/- 4. Wealth Redistribution Policies -/- Implementing fair taxation on extreme wealth, financial transactions, and corporate profits would allow governments to fund pensions without economic instability. -/- Conclusion -/- The so-called pension crisis is not a natural consequence of aging populations but a deliberate economic strategy designed to maintain corporate power, suppress wages, and justify endless economic expansion. In a fiat currency system, governments have the power to fund pensions without relying on unsustainable population growth or debt-driven economies. However, they choose not to, prioritizing elite financial interests over public welfare. Instead of accepting this flawed model, societies should explore alternatives like universal basic income, sustainable economies, and fair wealth distribution to ensure a future where financial security is not dependent on artificial economic scarcity. -/- . (shrink)

As many are effectively excluded from availing themselves of the services of financial institutions in the formal sector, they often form stokvels, an informal method of saving which is commonly practised in their home country. The research study was conducted to investigate the dynamics of Zimbabwean grocery stokvels in Cape Town and the factors which have encouraged their formation. A mixed-methods approach was adopted, and both quantitative and qualitative research methods were used to collect the data. The quantitative data (...) was obtained through the administration of a survey questionnaire. In contrast, the qualitative data was obtained by conducting one-on-one semi-structured interviews with leaders of Zimbabwean grocery stokvels, their spouses, and members of their families who did not belong to their stokvels. The qualitative data was augmented through the taking of field notes during the interviews. The results indicate that Zimbabweans in Cape Town form grocery stokvels due to severe shortages of basic necessities in Zimbabwe. Their participation in stokvels enables them to accumulate funds to purchase the groceries which they need to sustain themselves and their families in the absence of assistance from financial institutions in the formal sector and also to assist their families and relatives in Zimbabwe to cope with their dire economic circumstances by sending groceries to them. (shrink)

The Unspoken Truth: A Lifetime of Work for Survival in an Overpopulated and Depopulating World -/- Introduction -/- From childhood, we are taught that education is the key to success. We spend roughly the first 20 years of our lives in school, preparing for an uncertain future. We are encouraged to dream big, pursue careers, and find our passions. However, what no one explicitly tells us is that these 20 years are merely preparation for 50 or more years of working—primarily (...) to earn money and survive. -/- Even more concerning is that while billions of people are trapped in this cycle, the world is facing two opposing population crises: rapid overpopulation in some regions and depopulation in others. Some countries continue to grow unsustainably, straining resources and increasing poverty, while others are shrinking due to low birth rates, creating economic instability. This imbalance leads to serious consequences for individuals, societies, and global economic systems. -/- Why is this truth hidden, and what impact does it have on both individuals and the planet? More importantly, what can be done to create a more sustainable and balanced future? -/- The Hidden Structure of Life’s Journey -/- From an early age, children are encouraged to study hard, get good grades, and secure stable jobs. The education system is designed to instill discipline and knowledge, but it also conditions individuals to follow a structured path that ultimately leads to employment. Society promotes the idea that education provides limitless opportunities, but in reality, most people end up in a cycle of working just to meet basic needs rather than achieving personal fulfillment. -/- The modern economic system is built around productivity and labor. For societies to function, there must be a workforce that sustains industries, businesses, and governments. While work is necessary for survival, it is often framed as a personal achievement rather than a requirement for economic survival. -/- At the same time, the global population is shifting in extreme ways. Some regions, particularly in Africa and South Asia, are experiencing rapid overpopulation, leading to food shortages, high unemployment, and environmental destruction. Meanwhile, countries in East Asia and Europe are experiencing depopulation, where low birth rates and aging populations threaten economic stability. These opposite trends create an unbalanced world, where some struggle with too many people and not enough resources, while others suffer from too few young workers to sustain their economies. -/- Why No One Talks About It -/- These realities—lifelong work, overpopulation, and depopulation—are rarely discussed because they challenge the way society is structured. If young people understood these crises earlier, they might begin to question the fairness of the system too soon. -/- Additionally, governments and businesses benefit from an ever-growing workforce in some regions and technological advancements to replace missing workers in others. Countries with overpopulation encourage growth to sustain their economies, while depopulating nations struggle to balance immigration and automation to replace their shrinking workforce. The truth remains hidden because acknowledging these problems would require rethinking the economic and social structures that rely on population growth. -/- The Crisis of Depopulation: Examples of Countries in Decline -/- While overpopulation is a major concern, some of the world’s most developed countries are experiencing the opposite problem: a declining population. -/- 1. Japan: A Nation of the Elderly -/- Birth Rate: 1.3 births per woman -/- Projected Population Decline: From 125 million today to below 100 million by 2050 -/- Key Issue: Aging population and shrinking workforce -/- Japan has one of the lowest birth rates in the world, leading to a rapidly aging society. The workforce is shrinking, social welfare costs are rising, and economic stagnation is a major concern. Even with immigration and automation, Japan faces economic instability due to a lack of young workers. -/- 2. South Korea: The Lowest Birth Rate in the World -/- Birth Rate: 0.7 births per woman -/- Projected Crisis: Population could be cut in half by 2100 -/- Key Issue: Work culture and high costs of living discourage childbirth -/- South Korea now has the world’s lowest birth rate, mainly due to long working hours, expensive housing, and lack of government support for families. The government has spent billions on policies to encourage childbirth, but the decline continues. With fewer young workers, South Korea could face an economic collapse in the coming decades. -/- 3. Italy: A Dying Population -/- Birth Rate: 1.2 births per woman -/- Projected Population Decline: From 60 million today to 47 million by 2070 -/- Key Issue: Job insecurity and aging workforce -/- Italy has one of Europe’s lowest birth rates. Many young Italians face unstable jobs and financial struggles, making it difficult to start families. Meanwhile, the government faces increasing pressure to support an aging population. -/- 4. Russia: Shrinking Despite Incentives -/- Birth Rate: 1.5 births per woman -/- Projected Population Decline: Losing 500,000 people per year -/- Key Issue: High mortality rates and declining workforce -/- Russia’s population has been declining since the collapse of the Soviet Union. Despite government incentives like financial rewards for having children, the population decline continues. A shrinking workforce threatens long-term economic growth and stability. -/- 5. China: The Aftermath of the One-Child Policy -/- Birth Rate: 1.2 births per woman -/- Projected Population Decline: Expected to fall from 1.4 billion to 800 million by 2100 -/- Key Issue: Fewer young workers to support economic growth -/- China’s one-child policy created a severe gender imbalance and an aging population. Even after relaxing the policy, birth rates remain low due to high education costs, urbanization, and economic uncertainty. This decline threatens China’s future workforce and global economic position. -/- Potential Solutions: Balancing Population and Economy -/- Addressing both overpopulation and depopulation requires different strategies depending on the region. -/- 1. Sustainable Family Planning in Overpopulated Countries -/- Governments should promote education, access to contraception, and economic support for families to control rapid population growth. -/- Countries like India and Nigeria need policies that focus on quality of life rather than population size. -/- 2. Work-Life Balance and Child Support in Depopulating Countries -/- Nations like South Korea and Italy need better childcare support, affordable housing, and flexible work policies to encourage family growth. -/- Reducing job insecurity and providing long-term financial incentives for parents can help slow population decline. -/- 3. Immigration as a Solution for Shrinking Populations -/- Countries experiencing depopulation could welcome skilled immigrants to replenish their workforce. -/- Nations like Canada and Germany have successfully used immigration to sustain their economies. -/- 4. Advancing Automation and Technology -/- AI and robotics can help replace missing workers in depopulating nations. -/- Countries like Japan are investing in robotic caregiving and automated industries to support an aging society. -/- Conclusion -/- The reality that the first 20 years of life are just preparation for 50 or more years of work is a truth that few openly discuss. Even more concerning is that while some parts of the world are overpopulating without considering sustainability, others are depopulating without a clear plan for the future. These trends create serious economic, environmental, and social challenges. -/- The challenge remains: how can we ensure that life is about more than just working to survive in a world of extreme population shifts? While systemic change is a long-term goal, personal awareness, intentional decision-making, and global cooperation can help create a more balanced and sustainable future. -/- . (shrink)

Modern Monetary Theory and the Universal Law of Balance in Nature -/- Introduction -/- Modern Monetary Theory (MMT) challenges traditional economic thinking by proposing that sovereign governments with their own currency are not financially constrained like households. Instead, they can issue money to finance public spending as long as they manage inflation and resource allocation effectively. When viewed through the lens of my universal formula, which is based on the universal law of balance in nature, MMT emerges as a valid (...) approach to economic management. However, to fully align with natural balance, it must incorporate productivity (GDP), GDP per capita, the Gini coefficient, and population regulation to ensure a stable and just society. -/- The law of Karma in Economic Systems -/- The law of karma, or cause and effect, applies to all systems, whether natural or human-made. For any system to function properly, it must be free of defects or errors. In the economic context, this means that government policies must ensure that money creation and resource distribution do not lead to instability or inequality. -/- MMT recognizes that government spending can boost Gross Domestic Product (GDP) by increasing demand for goods and services. However, if money creation exceeds productive capacity, inflation occurs, disrupting economic balance. Conversely, if spending is too low, unemployment and stagnation result. This delicate balance follows the same principle as a well-functioning system—any defect, such as misallocation of resources or failure to regulate money flow, leads to dysfunction. -/- Using MMT to Increase GDP Without Causing Inflation -/- One of the main criticisms of MMT is the risk of inflation. However, a government can increase GDP annually without triggering inflation if it directs money creation toward productive sectors that expand the economy’s capacity. This aligns with the universal law of balance—spending must be proportional to the system’s ability to absorb it. -/- To achieve this, the government must focus on: -/- 1. Investing in Infrastructure and Public Goods -/- Building roads, bridges, and energy grids increases economic efficiency and reduces business costs. -/- Improved public transportation lowers logistics costs and improves workforce mobility. -/- Infrastructure spending has a high multiplier effect, meaning that every dollar spent generates more economic activity. -/- 2. Funding Research, Development, and Innovation -/- Investing in new technologies and industries increases long-term productivity, ensuring that new money corresponds to real economic growth. -/- Government-funded innovation, such as AI, renewable energy, and biotechnology, leads to new industries and job creation, expanding GDP without inflationary pressure. -/- 3. Expanding Education and Workforce Training -/- Government-funded education and vocational training programs enhance labor productivity, ensuring that the workforce can meet the demands of evolving industries. -/- A highly skilled workforce increases GDP by producing higher-value goods and services, preventing inflation by raising overall economic efficiency. -/- 4. Supporting Strategic Industrial Growth -/- Providing targeted investment and subsidies to high-potential industries ensures that economic expansion is driven by productive capacity rather than speculation. -/- Countries like South Korea and China have used government spending to develop manufacturing and technology sectors, increasing GDP without inflation. -/- 5. Encouraging Sustainable Energy and Agriculture -/- Investment in renewable energy reduces long-term reliance on fossil fuels, lowering production costs and ensuring energy security. -/- Supporting modern agricultural practices increases food supply, preventing price spikes that contribute to inflation. -/- By focusing government spending on productivity-enhancing sectors, MMT can be applied to grow GDP while avoiding excess money supply beyond the economy’s capacity, ensuring economic balance. -/- Balancing GDP and GDP per Capita -/- While GDP measures the total value of goods and services produced in an economy, it does not reflect the distribution of wealth and individual well-being. A country can have a high GDP but still experience widespread poverty if wealth is concentrated among a few. -/- To maintain balance, economic policies must focus on GDP per capita, which measures average economic output per person. If GDP grows but the population increases at an unsustainable rate, per capita wealth declines, leading to economic stress. This aligns with my universal formula, which emphasizes that decision-making must adhere to natural balance. A nation must regulate population growth to ensure that resources, jobs, and social services are adequate for all citizens. -/- Feedback Mechanisms in Economic Policy -/- The economy, like all natural systems, operates through feedback mechanisms. MMT recognizes that government spending fuels growth, but excessive money creation without corresponding productivity leads to inflation. This is where taxation and investment in productivity serve as balancing tools. -/- If inflation rises, taxes can be increased to reduce excess money in circulation. -/- If unemployment is high, the government can spend more on job programs and infrastructure to boost productivity. -/- If wealth concentration worsens, progressive taxation can redistribute income, preventing social instability. -/- The Gini Coefficient and Economic Justice -/- The Gini coefficient measures income inequality within a society. A higher value indicates greater inequality, which can lead to social unrest and economic imbalance. If wealth is concentrated among a small elite while the majority struggle, the economy becomes unstable, much like a defective system that cannot function efficiently. -/- MMT provides tools to reduce inequality by funding public services, education, and healthcare without relying on traditional tax revenues. However, this spending must be directed toward increasing productivity and ensuring fair wealth distribution to avoid imbalances. A well-functioning system should aim for a moderate Gini coefficient, where economic opportunities are accessible to all. -/- Population Regulation to Maintain Balance -/- A key factor in economic stability is population regulation. If a country’s population grows too rapidly, GDP per capita declines, straining resources, infrastructure, and public services. Conversely, a shrinking population can lead to labor shortages and economic contraction. -/- To maintain balance, governments must implement policies that ensure population growth aligns with economic capacity. These include: -/- Education and family planning programs to encourage sustainable growth. -/- Investment in automation and AI to offset potential labor shortages in aging populations. -/- Sustainable immigration policies to balance workforce needs. -/- Conclusion -/- Modern Monetary Theory, when properly applied, aligns with the universal law of balance in nature by ensuring that economic systems function without defects. However, for MMT to work effectively, it must integrate GDP growth, GDP per capita, income distribution (Gini coefficient), and population regulation to maintain stability. -/- By directing money creation toward productive investments, such as infrastructure, education, innovation, and sustainable industries, governments can increase GDP annually without triggering inflation. This approach ensures that money supply matches real economic output, preventing the imbalance that leads to economic crises. -/- Incorporating these principles into policy-making ensures that economic decisions are guided by natural laws, leading to a more stable, just, and prosperous society. -/- . (shrink)

The Importance of Urban Planning and Strict Laws on Informal Settlements -/- Introduction -/- Urbanization is a global phenomenon, bringing both opportunities and challenges. Rapid population growth, especially in developing nations, has led to the rise of informal settlements or “squatter areas.” These settlements often lack proper infrastructure, sanitation, and legal recognition, creating social, economic, and environmental issues. Effective urban planning, combined with strict enforcement of land-use laws and inclusive housing policies, is essential to ensuring sustainable and livable cities. This (...) essay explores the importance of urban planning and strict laws against illegal settlements, using successful case studies from Singapore, Brazil, South Korea, the Philippines, and Ethiopia. -/- The Role of Urban Planning in Sustainable Cities -/- Urban planning is the process of designing and regulating the use of land to ensure the orderly development of cities. Proper urban planning provides essential services such as housing, transportation, sanitation, and green spaces, preventing the formation of illegal settlements. -/- Key Aspects of Effective Urban Planning -/- 1. Zoning Regulations – Defining areas for residential, commercial, and industrial use helps prevent uncontrolled development. -/- 2. Infrastructure Development – Roads, drainage, sewage systems, and utilities must be planned in advance to accommodate future growth. -/- 3. Disaster Risk Management – Cities must prevent settlements in flood-prone or hazardous areas to minimize risks to human life. -/- 4. Affordable Housing Programs – Governments should provide legal, affordable alternatives to illegal settlements. -/- Without proper urban planning, cities face overcrowding, pollution, poor sanitation, and increased crime rates. Case studies from different countries demonstrate the effectiveness of strong urban policies in addressing informal settlements. -/- Case Studies: Successful Urban Planning and Settlement Control -/- 1. Singapore: A Model for Integrated Public Housing -/- Singapore transformed from a city with severe housing shortages in the 1960s into one of the most well-planned urban environments in the world. The government’s Housing and Development Board (HDB) played a crucial role in developing affordable, high-quality public housing with integrated amenities such as schools, parks, and public transportation. -/- Key Strategies: ✔ Strict zoning laws prevented unregulated settlements. ✔ Homeownership was promoted through subsidized housing loans. ✔ Government-planned townships provided complete services. -/- Results: ✔ Over 80% of Singaporeans now live in well-planned public housing. ✔ Illegal settlements have been completely eliminated. -/- Singapore’s success demonstrates how strict land-use policies combined with affordable housing programs can prevent informal settlements. -/- 2. Brazil: Upgrading Informal Settlements Instead of Evictions -/- Rio de Janeiro faced a severe problem with favelas—informal settlements that grew due to rapid urban migration. Instead of mass evictions, the government launched the Favela-Bairro program (1994-2008), improving living conditions rather than displacing people. -/- Key Strategies: ✔ Infrastructure improvements (roads, sanitation, electricity). ✔ Community engagement ensured residents’ needs were met. ✔ Legal property rights were granted to residents. -/- Results: ✔ Over 250,000 residents benefited from improved housing conditions. ✔ Crime and poverty rates declined as favelas were integrated into the formal city. -/- Brazil’s approach shows that slum upgrading can be a viable alternative to forced eviction, improving both human welfare and urban order. -/- 3. South Korea: Urban Renewal in Seoul (Cheonggyecheon Project) -/- Seoul’s Cheonggyecheon River was once covered by illegal settlements and highways. The government removed the informal settlements, revitalizing the area into a public green space. -/- Key Strategies: ✔ Slum clearance and restoration of natural spaces. ✔ Improved public transport (bus rapid transit) reduced congestion. ✔ Business relocation incentives prevented economic disruption. -/- Results: ✔ 35% reduction in air pollution, making Seoul more livable. ✔ Increased property values and economic growth. -/- This case highlights how urban renewal projects can enhance sustainability, public health, and economic opportunities while addressing informal settlements. -/- 4. The Philippines: Housing and Resettlement Programs -/- Metro Manila faces a long-standing issue of informal settlers occupying flood-prone and government-owned areas. The Philippine government introduced various strategies, including in-city relocation, socialized housing, and land clearing operations. -/- Key Strategies: ✔ Balik Probinsya, Bagong Pag-asa (BP2) Program: Encouraged migration from overcrowded cities with financial aid. ✔ Vertical housing solutions: High-rise social housing projects maximized limited land. ✔ Land clearing operations: Removed settlements from hazardous areas. -/- Results: ✔ Some success in decongesting Metro Manila, but rapid urban migration remains a challenge. ✔ Affordable housing remains a priority for sustainable urban development. -/- The Philippines’ experience shows that a combination of enforcement and social programs is necessary to manage informal settlements effectively. -/- 5. Ethiopia: Large-Scale Public Housing (Addis Ababa’s Condominium Program) -/- Ethiopia faced a housing crisis, with 70% of Addis Ababa’s population living in informal settlements. The government launched a large-scale condominium housing program to address the issue. -/- Key Strategies: ✔ Government-built high-rise condominiums replaced slums. ✔ Low-interest loans made homeownership possible for low-income families. ✔ Priority was given to families displaced by urban renewal projects. -/- Results: ✔ Significant reduction in slums as many moved into formal housing. ✔ Homeownership increased, improving living conditions. -/- Ethiopia’s approach highlights how government-led mass housing projects can transform urban development. -/- Lessons from Successful Urban Planning -/- 1. Strict Land-Use Laws Prevent Slums from Forming ✔ Clearly defining residential, commercial, and public spaces prevents illegal occupation. -/- 2. Affordable Housing is Essential ✔ Governments must provide low-cost housing as a legal alternative to informal settlements. -/- 3. Upgrading Slums Can Be More Effective Than Evictions ✔ Programs like Favela-Bairro (Brazil) and Ethiopia’s condominium projects show that improving existing settlements works better than forced displacement. -/- 4. Technology Can Help Monitor and Prevent Illegal Settlements ✔ GIS mapping and AI tracking can detect unauthorized land occupation. ✔ E-governance systems can simplify property registration and land-use approvals. -/- 5. Community Engagement is Critical ✔ Urban planning must involve local residents to ensure sustainability and social acceptance. -/- 6. Economic and Livelihood Programs Reduce Informal Settlements ✔ Job creation, microfinance, and small business support help low-income families transition into formal housing. -/- Conclusion -/- Urban planning and strict laws against informal settlements are crucial for creating sustainable, safe, and prosperous cities. Case studies from Singapore, Brazil, South Korea, the Philippines, and Ethiopia demonstrate that a balanced approach—combining strict enforcement, affordable housing, and community-driven solutions—leads to long-term success. Governments worldwide must prioritize sustainable housing, infrastructure development, and urban regulations to ensure that growing populations are accommodated in a way that promotes both human dignity and urban order. -/- By learning from successful models and implementing proactive urban policies, cities can prevent slums, improve living conditions, and build a more sustainable future for all. -/- . (shrink)

AI and the Universal Law of Economic Balance: A Homeostatic Model for Sustainable Prosperity -/- Introduction -/- Modern economies are primarily driven by the profit motive, which, while encouraging innovation and efficiency, often leads to wage stagnation, wealth inequality, and resource exploitation. The imbalance between corporate profits, wages, purchasing power, and market demand has resulted in recurring economic crises, social unrest, and environmental degradation. -/- To resolve these systemic issues, economic policies must align with the universal law of balance in (...) nature, ensuring that financial systems function as self-regulating ecosystems rather than unstable, profit-driven markets. Achieving this balance requires both gradual reform and fundamental restructuring, first at the national level and then integrated into a global economic framework. -/- The key to Implementing and maintaining this balance lies in artificial intelligence (AI), which can analyze economic conditions in real time and adjust wages, prices, taxation, and resource distribution to maintain stability. However, to prevent AI from becoming a tool of economic control for powerful entities, it must be open-source, decentralized, and governed by ethical principles. -/- This essay explores how AI-driven economic balance can replace market-driven instability with a self-regulating, sustainable model that ensures fair wages, stable prices, and equitable wealth distribution. -/- The Problem: Profit Motive and Economic Imbalance -/- The traditional economic system relies on profit margins to sustain businesses. However, when companies focus on maximizing profits, several imbalances emerge: -/- 1. Lower Wages Reduce Purchasing Power -/- When businesses lower costs to remain competitive, wages stagnate. -/- Lower wages mean consumers cannot afford the products they produce. -/- 2. Weaker Demand Forces Businesses to Cut Costs Further -/- If people cannot buy goods, businesses cut jobs and wages further, deepening the problem. -/- Economic growth becomes dependent on debt, leading to financial instability. -/- 3. Wealth Concentration Creates Social and Political Instability -/- Extreme profit accumulation among a small elite leads to economic inequality. -/- Governments either increase taxes (which businesses resist) or cut social services (which leads to public unrest). -/- This cycle of imbalance proves that unregulated profit-seeking is unsustainable. Instead, an economy must be structured to self-regulate, ensuring a balance between wages, prices, profits, and demand. -/- A Homeostatic Economic Model: Balancing Wages, Prices, and Profits -/- A homeostatic economic model ensures that all components of the economy—wages, prices, profit margins, taxation, and demand—adjust dynamically to maintain stability. The following reforms would create this balance: -/- 1. Wage-Price Equilibrium -/- Wages must be indexed to productivity and inflation, ensuring purchasing power remains stable. -/- Profit-sharing incentives should be standardized, allowing workers to benefit from company success. -/- 2. Profit Regulation Without Killing Innovation -/- Essential industries (e.g., healthcare, food, energy) should have profit caps to prevent price exploitation. -/- Businesses that reinvest in worker wages, technology, or sustainability should receive tax breaks. -/- 3. Market Demand and Supply Stability -/- Governments and businesses must collaborate to prevent artificial scarcity and price manipulation. -/- Tax policies should support lower-income groups, ensuring their purchasing power remains intact. -/- 4. Dynamic Feedback Mechanism for Economic Stability -/- Economic decisions must be based on real-time data, avoiding speculation-based policies. -/- Policies should be adjustable based on changes in market conditions, preventing booms and busts. -/- These policies require both national reforms and global cooperation, ensuring that no single country or corporation can disrupt the balance for personal gain. -/- AI as the Key to Homeostatic Economic Balance -/- Maintaining economic balance in real time is too complex for human policymakers alone. This is where artificial intelligence (AI) can play a critical role in: -/- 1. Real-Time Wage and Price Adjustments -/- AI can analyze inflation, productivity, and cost of living to dynamically adjust wages and prices. -/- 2. Profit Optimization Without Exploitation -/- AI can track corporate profits and suggest profit-reinvestment policies that benefit workers and society. -/- 3. Smart Taxation and Wealth Redistribution -/- AI-driven progressive taxation models ensure fair wealth distribution while preventing economic stagnation. -/- 4. Market Demand and Supply Optimization -/- AI can predict consumer demand shifts and help businesses adjust production to prevent shortages or oversupply. -/- 5. Global Trade and Resource Management -/- AI can analyze trade patterns to ensure fair pricing and sustainable resource allocation worldwide. -/- 6. Public Awareness and Education -/- AI can identify economic misconceptions and suggest educational initiatives to promote financial literacy. -/- For AI to function effectively in this role, it must operate under ethical and decentralized governance to serve humanity rather than corporate or political interests. -/- Ensuring AI Remains Open-Source and Decentralized -/- To prevent AI from being misused as a tool of economic control, its development and governance must follow these principles: -/- 1. Open-Source AI for Economic Balance -/- AI models should be transparent and publicly auditable to prevent hidden biases. -/- Developers from multiple disciplines should contribute to ensure fairness and accuracy. -/- 2. Decentralized Governance Model -/- AI should be managed through global economic councils, not a single government or corporation. -/- Blockchain technology can ensure transparency in AI-driven economic decisions. -/- 3. Ethical Safeguards Against Manipulation -/- AI decisions should prioritize sustainability and human well-being over profit. -/- Economic policies should be auditable in real-time by independent researchers and civil organizations. -/- Failsafe mechanisms must prevent AI from implementing harmful policies due to data misinterpretation. -/- By ensuring AI-driven economic balance is open-source, decentralized, and ethically governed, it can create a self-correcting system that prevents economic crises, stabilizes wealth distribution, and ensures long-term prosperity. -/- Implementation Strategy: Gradual Reform Leading to Systemic Change -/- Since economic transition cannot happen overnight, a phased approach is necessary: -/- Phase 1: National-Level Reforms -/- 1. Implement wage-price indexing and profit-sharing policies. -/- 2. Reduce corporate taxes for businesses that reinvest in workers and sustainability. -/- 3. Introduce regulated price stabilization for essential goods. -/- Phase 2: Global Economic Integration -/- 1. Establish international economic councils to guide balance-driven policies. -/- 2. Reform global trade agreements to prioritize fair wages and sustainability. -/- 3. Create a universal economic sustainability index to track progress. -/- Phase 3: AI-Governed Dynamic Economic System -/- 1. Develop real-time AI monitoring for wage-price adjustments. -/- 2. Implement AI-driven smart taxation to prevent wealth inequality. -/- 3. Ensure AI operates under decentralized, transparent governance. -/- Conclusion: The Future of an AI-Driven Balanced Economy -/- By integrating AI with economic policy, we can create a self-regulating economic system that follows the universal law of balance, preventing both extreme poverty and extreme wealth accumulation. This homeostatic economic model ensures that profits, wages, prices, and demand remain in equilibrium, fostering sustainable prosperity for all. -/- . (shrink)

The Risks of High Birth Rates in Poor Countries Without a Government-Managed Economy -/- In many poor countries, having a large number of children is often seen as a way to secure a family’s future. However, in modern economies where job creation depends primarily on private companies and startups, this strategy becomes highly unsustainable. Without a socialist system managed by the government and its central bank to stabilize employment and provide essential services, rapid population growth can lead to widespread economic (...) and social challenges. -/- The Uncertainty of Private-Sector Job Creation -/- One of the main reasons why having many children in poor countries is not advisable is that job creation relies heavily on private companies and startups, which are highly unstable. Unlike government-managed industries that prioritize long-term economic stability, private companies operate for profit and are subject to market fluctuations. Many businesses, especially startups, fail within a few years, leading to job losses and financial insecurity for workers. Without a strong state intervention to ensure employment stability, large families may struggle to provide for their children. -/- Furthermore, economic recessions can cause mass layoffs, leaving entire families without a source of income. Poor countries often lack sufficient unemployment benefits or social safety nets, making it difficult for parents to support a growing number of children in times of economic downturn. -/- Lack of Government-Controlled Economic Planning -/- In socialist systems, the government and its central bank play a key role in managing the economy by controlling industries, regulating employment, and ensuring economic stability. In contrast, market-driven economies in poor countries often experience economic cycles of booms and busts. During economic downturns, private companies reduce hiring, and job scarcity worsens. -/- Without a government-planned economy, employment opportunities remain unpredictable, making it difficult for large families to secure a stable income. Governments in poor countries typically lack the resources to create enough public-sector jobs, leaving citizens at the mercy of volatile private-sector employment. -/- Strain on Public Services -/- A rapidly growing population increases the demand for essential services such as healthcare, education, and infrastructure. Poor countries often lack the financial resources to expand these services quickly enough to match population growth. As a result, schools become overcrowded, healthcare facilities are overburdened, and infrastructure development lags behind, leading to lower living standards. -/- Without a strong government-backed socialist system to manage resources efficiently, families with many children face limited access to quality education and healthcare. This creates a cycle of poverty, where children grow up without proper education and skills, reducing their chances of securing stable jobs in the future. -/- Wage Suppression and Exploitation of Labor -/- When population growth outpaces job creation, the labor market becomes oversaturated, leading to lower wages. In economies dominated by private companies, employers take advantage of surplus labor to keep wages low. This makes it difficult for large families to earn enough income to support their basic needs. -/- In contrast, a government-managed economy could regulate wages and ensure fair labor conditions, preventing the exploitation of workers. Without such regulations, families in poor countries face the risk of being trapped in a cycle of low wages and poor working conditions, making it increasingly difficult to escape poverty. -/- The Risks of Entrepreneurial Dependence -/- While entrepreneurship is often promoted as a solution to job shortages, startups and small businesses are highly risky, especially in poor countries where access to capital is limited. Many aspiring entrepreneurs lack the financial resources, technical skills, and market access to sustain successful businesses. Without government-backed support, such as low-interest loans, subsidies, or public sector employment, relying on entrepreneurship for job creation remains an uncertain strategy. -/- Conclusion -/- In countries without a socialist system where the government actively manages economic stability and employment, having many children can lead to significant economic and social challenges. The reliance on private companies and startups for job creation is highly risky due to market fluctuations, limited public services, suppressed wages, and the difficulties of entrepreneurship. Without strong government intervention to regulate employment and provide social support, large families in poor countries face higher risks of poverty and economic instability. -/- To ensure a sustainable future, poor countries should focus on balancing population growth with economic development. This requires investment in education, healthcare, and employment programs that provide stable opportunities for all citizens. Without such measures, uncontrolled population growth in market-driven economies will only deepen poverty and inequality. -/- . (shrink)

Comprehensive Plan for Population Growth Control & Senior Citizen Social Safety Net in the Philippines -/- To ensure sustainable population growth while also supporting senior citizens who have no children or lack financial support, the government must integrate social safety net laws for both family planning and elderly welfare. -/- I. Population Growth Control Through Social Safety Net Laws -/- 1. TAX REFORMS TO INCENTIVIZE SMALLER FAMILIES -/- A. Incentives for Small Families -/- Higher tax deductions for families with (...) one or two children. -/- Gradual removal of tax benefits for families with more than two children. -/- Corporate tax incentives for businesses that provide family planning services. -/- B. Tax Penalties for Large Families -/- Higher progressive taxation on families with three or more children. -/- Luxury taxes on housing, vehicles, and government subsidies for large families. -/- 2. EDUCATION REFORMS FOR RESPONSIBLE FAMILY PLANNING -/- A. Strengthening Sex Education (Comprehensive Sexuality Education – CSE) -/- Mandatory inclusion in the school curriculum from Grade 5 onward. -/- Covers reproductive health, contraception, financial responsibility, and gender equality. -/- B. Scholarships & Financial Aid for Small Families -/- Additional educational subsidies for children from families with one or two kids. -/- Gradual reduction of education subsidies for larger families. -/- 3. EMPLOYMENT & SOCIAL WELFARE REFORMS -/- A. Job Incentives for Women & Working Parents -/- Work-from-home incentives and subsidized childcare for working mothers. -/- Paid maternity leave benefits tied to small family sizes. -/- B. Adjustments to 4Ps Social Welfare Program -/- Full cash benefits limited to the first two children. -/- Mandatory family planning education to continue receiving benefits. -/- 4. AI & BIG DATA FOR POPULATION PLANNING -/- AI-driven demographic tracking to adjust tax policies, social benefits, and economic incentives. -/- Predictive modeling for workforce planning to prevent future labor shortages. -/- 5. URBAN & RURAL DEVELOPMENT STRATEGIES -/- Housing and urban planning incentives for small families. -/- Smart city initiatives to balance population density. -/- II. Social Safety Net for Senior Citizens Without Children or Financial Support -/- 1. Universal Pension & Financial Support Programs -/- A. Strengthening the SSS and GSIS Pension System -/- Mandatory government contributions for all workers, regardless of employment sector. -/- Higher pension benefits for seniors without children or financial support. -/- B. New “Guaranteed Minimum Pension” Program -/- Senior citizens without private savings receive a baseline pension from the government. -/- Indexed to inflation to ensure financial security in old age. -/- 2. Housing & Living Assistance for Seniors Without Family Support -/- A. Senior Citizen Cooperative Housing Program -/- Government-subsidized shared housing facilities for elderly individuals without family support. -/- Community-based senior housing with healthcare and caregiving services. -/- B. Expansion of Public Nursing Homes -/- New state-run assisted living facilities in every province. -/- Affordable senior apartments with subsidized utilities and food programs. -/- 3. Healthcare & Insurance for Elderly Without Family Support -/- A. Expansion of PhilHealth & Free Healthcare Services -/- Automatic PhilHealth coverage for all seniors with no child support. -/- Higher government healthcare subsidies for single and childless seniors. -/- B. Free Home-Based Healthcare -/- Barangay-level healthcare workers assigned to provide free home visits for elderly citizens. -/- Mobile clinics and telemedicine for those in remote areas. -/- 4. Employment & Social Engagement for the Elderly -/- A. Senior Employment & Livelihood Programs -/- Tax incentives for companies hiring seniors (part-time or consultancy roles). -/- Government-backed microfinance loans for seniors starting small businesses. -/- B. “Adopt-a-Senior” Community Program -/- Encourage local communities to support senior citizens without family assistance. -/- Volunteer-based programs where younger individuals help care for seniors. -/- III. Implementation Challenges & Solutions -/- A. Overcoming Religious & Cultural Barriers -/- Frame policies as “family economic security programs” rather than population control. -/- Community-based awareness campaigns to promote responsible parenthood. -/- B. Ensuring Fair Implementation in Rural Areas -/- Deploy mobile healthcare teams to reach isolated seniors and educate rural families. -/- Offer financial rewards for barangays with successful family planning programs. -/- C. Balancing Population Growth & Workforce Needs -/- Encourage skilled migration to prevent future labor shortages. -/- Promote education and automation to compensate for a smaller workforce. -/- Final Recommendations -/- Integrate population planning into the national economic strategy. -/- Create a “National Senior Citizen Welfare Act” ensuring financial security for the elderly. -/- Strengthen AI-driven demographic management to balance population growth. -/- . (shrink)

The Unified Theory of Free Will: The Three Universal Laws, Systemic Imbalance, and Nature’s Self-Correction -/- By Angelito Malicse -/- Introduction -/- For centuries, the concept of free will has been debated, with perspectives ranging from determinism to compatibilism and libertarianism. However, these traditional views fail to acknowledge the natural laws that govern human decision-making. By synthesizing the Universal Law of Balance in Nature, the Universal Feedback Loop Mechanism, and the Error-Free System, we establish a unified theory of free will—a (...) structured approach to human choices within the constraints of natural order. -/- Additionally, it is crucial to recognize the tolerance limits of hierarchical systems—both natural and man-made. When human decisions exceed these limits and imbalances persist, nature will automatically step in to restore equilibrium. This natural correction often manifests in disruptive ways, such as natural disasters, economic collapses, or social upheavals. Understanding these dynamics is essential to ensuring stability across all systems. -/- Furthermore, human emotions, which have evolved as essential survival mechanisms, play a dual role in maintaining or disrupting balance. Emotions influence decision-making, motivation, and social interactions. When properly regulated, they help individuals and societies adapt to challenges and maintain systemic harmony. However, when emotions exceed their tolerance limits—such as excessive fear leading to panic or unchecked anger causing conflict—they contribute to systemic imbalance and dysfunction. -/- The Three Universal Laws and Their Role in Decision-Making -/- 1. Universal Law of Balance in Nature -/- Every system—biological, social, and technological—operates within specific tolerance limits. Decisions that align with natural balance maintain stability, while those that exceed these limits lead to disruption. If humans fail to correct imbalances, nature will forcefully restore equilibrium, often through unpredictable and catastrophic means. -/- Examples of Balance, Systemic Imbalance, and Natural Correction: -/- Personal Health: A balanced diet sustains physical well-being, while excessive consumption leads to obesity and related diseases. If ignored, the body self-corrects through metabolic disorders and immune system responses. -/- Economic Stability: A balanced economy fosters growth, while financial mismanagement leads to economic crashes. Recessions and inflation serve as corrective mechanisms for financial excesses. -/- Environmental Sustainability: Responsible resource management ensures long-term survival, whereas overexploitation leads to climate change and natural disasters such as droughts and hurricanes, which force societies to adapt. -/- Ecosystem Regulation: Overfishing disrupts marine populations, but nature counters with species migration and ecological shifts that eventually restore stability. -/- Energy Consumption: Overuse of fossil fuels accelerates climate change, prompting extreme weather events and necessitating the shift to renewable energy sources. -/- 2. Universal Feedback Loop Mechanism -/- Decision-making must incorporate continuous feedback to ensure adaptation and refinement. Ignoring or distorting feedback results in inefficiencies and systemic collapse. -/- Examples of Feedback, Systemic Imbalance, and Nature’s Response: -/- Business Adaptation: Companies that respond to consumer feedback thrive, while those that ignore it collapse due to declining market relevance. -/- Political Governance: Leaders who suppress public concerns foster unrest, often leading to revolutions or government overhauls. -/- Technological Development: AI systems trained on biased or incomplete data develop flawed decision-making patterns, necessitating retraining and regulation. -/- 3. Error-Free System -/- Every decision has consequences, and ensuring 100 percent correct information is essential to maintaining systemic balance. Errors in data, assumptions, or implementation can trigger unintended disruptions. -/- Examples of Cause and Effect, Misinformation, and Systemic Collapse: -/- Academic Success: Proper study methods enhance learning, while reliance on ineffective strategies results in poor educational outcomes. -/- Industrialization and Environmental Impact: Sustainable practices protect ecosystems, while reliance on false environmental data accelerates degradation. -/- Global Resource Consumption: Inaccurate assessments of resource availability lead to economic and geopolitical instability. -/- The Evolution and Purpose of the Duality of Human Emotions -/- Human emotions have evolved as critical mechanisms for survival, adaptation, and social cohesion. They function as regulatory signals that guide decision-making, helping individuals and societies maintain equilibrium. However, emotions also possess a dual nature, where their misalignment or overexpression can lead to instability and dysfunction. -/- Positive Role of Emotions in Systemic Balance: -/- Empathy and Cooperation: Emotions such as compassion and trust foster social cohesion, strengthening communities and enhancing cooperation. -/- Fear and Caution: A moderate level of fear helps individuals assess risks and avoid dangerous situations, ensuring personal and collective safety. -/- Motivation and Ambition: Positive emotions such as enthusiasm and joy drive personal growth, innovation, and societal progress. -/- Negative Role of Emotions in Systemic Imbalance: -/- Excessive Fear and Panic: When fear surpasses a system’s tolerance limit, it leads to irrational decision-making, paranoia, and social instability. -/- Unchecked Anger and Conflict: Intense anger without regulation contributes to violence, political unrest, and societal fragmentation. -/- Despair and Apathy: Chronic negative emotions, such as depression and hopelessness, reduce individual productivity and can weaken societal resilience. -/- Examples of Emotional Duality in Decision-Making: -/- Public Health Responses: Balanced fear leads to precautionary health measures, while excessive panic results in chaos (e.g., misinformation-fueled reactions during pandemics). -/- Leadership and Governance: A compassionate leader fosters unity, while an authoritarian leader driven by anger and paranoia destabilizes societies. -/- Market Behavior: Optimistic investors drive economic growth, while fear-driven panic selling causes financial crashes. -/- Effects of Systemic Imbalances and Nature’s Automatic Correction -/- When human decisions disrupt equilibrium and corrective actions are not taken, nature enforces balance through forceful interventions. -/- Examples of Human-Induced Imbalances and Nature’s Response: -/- Healthcare Systems: Overuse of antibiotics results in drug-resistant bacteria, increasing disease severity and forcing new medical advancements. -/- Economic Systems: Financial bubbles burst, leading to recessions that correct speculative excesses. -/- Political Systems: Corrupt governance leads to revolutions, shifts in power, and societal restructuring. -/- Environmental Systems: Deforestation causes soil erosion and desertification, forcing human migrations and altering agriculture. -/- Overpopulation: Excessive growth strains resources, leading to food shortages, pandemics, and natural events that regulate population levels. -/- Urban Expansion: Overcrowding leads to declining infrastructure, pollution, and social conflicts, often prompting mass relocations and policy reforms. -/- Conclusion -/- Free will is not an arbitrary concept but a structured system governed by natural laws. By understanding the Universal Law of Balance in Nature, the Universal Feedback Loop Mechanism, and the Error-Free System, we can align human decisions with nature’s equilibrium. -/- Additionally, recognizing the evolution and duality of human emotions is essential for maintaining stability in personal and societal decision-making. If humanity fails to correct imbalances, nature will automatically restore equilibrium, often in ways that are catastrophic and beyond human control. -/- By integrating these principles into education, governance, and AI development, we pave the way for a rational, ethical, and self-correcting society. -/- . (shrink)

Reforming All Countries Through the Universal Law of Balance: A Path to Global Stability and Progress -/- By Angelito Enriquez Malicse -/- Introduction -/- Throughout history, human societies have struggled with instability, conflict, economic inequality, environmental degradation, and governance failures. Despite technological advancements, many nations still face deep-rooted problems caused by imbalanced decision-making at both individual and collective levels. My universal formula, grounded in the universal law of balance in nature, offers a transformative solution to reform all countries and create (...) a world where governance, economics, education, and social structures operate in harmony. -/- By integrating this fundamental law of balance into global education systems, policy-making, and leadership training, societies can achieve sustainability, fairness, and progress. This essay explores how this universal formula can reform all countries and the positive effects it will bring to the entire world. -/- The Universal Law of Balance: A Foundation for Reform -/- The universal law of balance in nature states that all systems—biological, social, economic, and political—function optimally when they maintain equilibrium. Imbalance leads to corruption, inequality, overpopulation, environmental destruction, and human suffering. To achieve long-term global stability, this principle must be embedded in education, leadership, and governance. -/- 1. Reforming Education to Instill the Universal Law of Balance -/- Education is the foundation of societal change. Implementing the universal formula in education will: -/- Teach individuals how natural balance governs decision-making. Students will learn to evaluate choices scientifically rather than through emotional bias, misinformation, or outdated beliefs. -/- Encourage critical thinking and holistic problem-solving. Future generations will be trained to apply balanced solutions to complex global issues, such as economic inequality and climate change. -/- Bridge the gap between science and religion. Since religious dogma often influences social structures, the universal law of balance can provide a neutral, scientific approach that respects faith while promoting rational decision-making. -/- Train future leaders. Policymakers, economists, and scientists will be educated with a deep understanding of natural balance, preventing governance failures caused by greed, short-term thinking, and political manipulation. -/- 2. Reforming Leadership and Governance -/- Governments worldwide struggle with corruption, inefficiency, and poor decision-making due to imbalanced priorities. Applying the universal law of balance in governance will: -/- Create leaders who prioritize national and global stability. Balanced governance ensures that decisions benefit both the present and future generations. -/- Eliminate extreme capitalism and unregulated economic growth. Governments will regulate economies based on resource sustainability rather than limitless expansion, reducing wealth inequality and environmental destruction. -/- Prevent overpopulation and resource depletion. Balanced policies will control population growth to match available resources, ensuring sustainable development. -/- Ensure fair justice systems. Laws and policies will be structured to balance individual rights with collective responsibility, preventing both authoritarian rule and chaotic anarchy. -/- 3. Reforming Economic Systems for Global Sustainability -/- The modern economic system prioritizes profit over sustainability, leading to financial crises, worker exploitation, and environmental collapse. By implementing the universal formula, economies will: -/- Shift from profit-driven models to sustainability-driven economies. Instead of uncontrolled consumption, economic policies will ensure equitable wealth distribution and environmental responsibility. -/- Balance technological progress with ethical considerations. AI, automation, and scientific advancements will be aligned with human well-being rather than purely corporate interests. -/- Prevent extreme wealth accumulation. Tax structures and wealth redistribution mechanisms will balance economic power, preventing the concentration of resources in the hands of a few. -/- 4. Using AI and Technology to Implement the Universal Formula -/- Artificial intelligence and automation are shaping the future of governance, education, and economic management. If AGI (Artificial General Intelligence) is programmed according to the universal law of balance, it can: -/- Provide unbiased decision-making for governments and organizations. AI can analyze global trends and propose balanced policies that prevent economic crashes, food shortages, and political instability. -/- Ensure balanced media and information dissemination. AI can counteract misinformation and propaganda, ensuring that people receive accurate, scientifically-backed information. -/- Optimize resource management. Smart systems can ensure that natural resources are used efficiently, preventing over-extraction and environmental collapse. -/- Positive Effects of the Universal Formula on All Countries and the World -/- 1. Global Peace and Conflict Resolution -/- Many wars and conflicts arise from imbalanced decision-making, whether in the form of territorial disputes, economic competition, or ideological clashes. If all countries implement the universal law of balance: -/- Diplomacy will replace war. Nations will resolve conflicts through mutual benefit and balance rather than through force or economic domination. -/- Religious and cultural tensions will decrease. Education based on balance will prevent extremist ideologies and promote global cooperation. -/- Geopolitical stability will be achieved. Superpowers will shift from military competition to balanced global governance, ensuring world peace. -/- 2. Economic Stability and Sustainable Development -/- Instead of pursuing endless economic growth, nations will adopt policies that balance wealth distribution, technological advancement, and resource sustainability. This will result in: -/- Elimination of poverty and extreme inequality. Wealth will be distributed according to natural balance, ensuring that no country suffers from extreme poverty while others hoard wealth. -/- Protection of natural ecosystems. Economic activity will be regulated to align with environmental sustainability, reversing climate change and preventing resource depletion. -/- Harmonized global trade. Countries will trade based on mutual benefit, reducing exploitative economic relationships and dependency on harmful industries. -/- 3. A More Conscious and Responsible Humanity -/- By implementing the universal law of balance in all human activities, societies will: -/- Develop a collective consciousness of responsibility. People will prioritize balanced decision-making, preventing greed, ignorance, and reckless behavior. -/- Reduce crime and corruption. Societies where balance is understood and practiced will no longer tolerate corruption, exploitation, and unethical leadership. -/- Achieve spiritual and intellectual enlightenment. Individuals will no longer be manipulated by false ideologies but will instead align their lives with natural balance, achieving greater peace and fulfillment. -/- Conclusion: A Call for Global Implementation -/- The universal law of balance is the missing foundation needed to reform all countries and create a stable, just, and progressive world. By integrating this principle into education, governance, economics, and technology, we can eliminate poverty, war, corruption, and environmental destruction, ensuring a sustainable future for all. -/- The challenge is global cooperation and willingness to change. If leaders, educators, and scientists recognize the scientific necessity of balance, the world can shift from chaos to harmony. This is not a utopian vision—it is the natural evolution of human civilization once it aligns with the fundamental laws of nature. -/- Now is the time to act. The future of humanity depends on our ability to embrace balance, reform our societies, and secure a future where all nations thrive in equilibrium. -/- . (shrink)

The Advantages of Self-Sufficient Countries with Manageable Populations and Minimal Import Dependence -/- Introduction -/- In a world where globalization has connected economies, many nations remain highly dependent on imports for essentials such as food, energy, and industrial materials. While trade brings benefits, over-reliance on imports exposes nations to risks such as supply chain disruptions, inflation, and geopolitical pressures. However, some countries have successfully built self-sufficient economies, allowing them to thrive with minimal reliance on foreign resources. -/- Self-sufficient countries benefit (...) from economic stability, enhanced national security, environmental sustainability, and a higher quality of life. Examples such as Norway, Switzerland, New Zealand, Iceland, Bhutan, and Uruguay demonstrate that strategic resource management, energy independence, and population control contribute to long-term success. -/- This essay will explore the key advantages of self-sufficiency, examine the strategies employed by these nations, and highlight the broader implications of reducing import dependence. -/- 1. Economic Stability and Resilience -/- One of the primary benefits of self-sufficiency is economic stability. Nations that produce essential goods locally are less vulnerable to global economic downturns, inflation, and trade disruptions. -/- Trade Surplus and Financial Security -/- Countries like Norway and Switzerland have built strong economies by focusing on industries that generate trade surpluses. -/- Norway: A leading exporter of oil, gas, and seafood, Norway earns more from exports than it spends on imports, ensuring a strong national economy. -/- Switzerland: With a diverse economy—banking, pharmaceuticals, and precision manufacturing—Switzerland remains stable despite global financial fluctuations. -/- Local Industry Growth and Job Creation -/- By minimizing imports, self-sufficient nations stimulate local industries, creating jobs and ensuring wealth stays within national borders. -/- New Zealand: Its agricultural sector produces dairy, meat, and fruit for both local consumption and global export, strengthening the workforce and financial stability. -/- Uruguay: The country invests in local renewable energy industries, reducing dependence on imported fossil fuels while creating green jobs. -/- Protection from Global Economic Shocks -/- When economies rely heavily on imports, external crises like wars, pandemics, or financial recessions can cause severe economic disruptions. Self-sufficient nations are more resilient: -/- Switzerland’s banking sector thrives regardless of external turmoil due to its strong internal financial policies. -/- Iceland’s geothermal energy independence protects it from global oil price fluctuations. -/- 2. National Security and Political Independence -/- A country that depends heavily on imports is vulnerable to trade restrictions, geopolitical tensions, and supply chain disruptions. Self-sufficient nations reduce foreign dependencies, strengthening national security and political stability. -/- Energy and Resource Security -/- Self-sufficient countries avoid dependence on foreign energy sources, making them less vulnerable to political blackmail or economic manipulation. -/- Iceland generates 100% of its electricity from geothermal and hydro energy, eliminating its reliance on oil imports. -/- Uruguay produces 98% of its energy from renewable sources, reducing its need for foreign energy supplies. -/- Reduced Geopolitical Vulnerability -/- Countries that rely heavily on imports can be pressured by foreign powers through trade restrictions or embargoes. -/- Switzerland’s economic neutrality allows it to trade freely while maintaining independence from global conflicts. -/- Bhutan discourages foreign consumerism to maintain sovereignty and control over its economy. -/- 3. Environmental Sustainability and Climate Resilience -/- Reducing import dependence directly benefits the environment. Long-distance shipping, mass production, and over-reliance on fossil fuels all contribute to global pollution. Self-sufficient countries focus on local production and sustainability, lowering their environmental impact. -/- Renewable Energy Leadership -/- Norway: Nearly 100% of Norway’s electricity comes from hydropower, making it a leader in green energy. -/- Iceland: Geothermal and hydroelectric plants generate all of Iceland’s electricity, eliminating fossil fuel imports. -/- Bhutan: The country exports excess hydropower to India, reducing the need for fossil fuels regionally. -/- Sustainable Agriculture and Land Management -/- Food self-sufficiency is essential for sustainability. Countries that prioritize local food production ensure long-term food security and reduce carbon emissions from imported food transportation. -/- New Zealand’s farming industry provides dairy, beef, and fruits for domestic consumption and export. -/- Bhutan promotes organic farming, making it one of the most sustainable agricultural economies in the world. -/- 4. Social Stability and Quality of Life -/- Countries with well-managed populations and self-sufficient economies enjoy higher living standards, better infrastructure, and lower poverty rates. -/- Population Management and Resource Allocation -/- Self-sufficient nations carefully regulate population growth to match available resources, ensuring sustainable development. -/- Iceland and Bhutan have small, manageable populations, allowing them to provide high-quality healthcare, education, and infrastructure. -/- Switzerland’s strict immigration policies ensure that economic growth does not outpace resource availability. -/- Resilient Social Systems -/- Strong social welfare programs are more effective in self-sufficient countries because resources are distributed efficiently. -/- Norway: High-quality education, healthcare, and pension systems ensure a high standard of living. -/- Switzerland: The government reinvests economic surplus into public services, benefiting all citizens. -/- 5. Crisis Preparedness and Resilience -/- Global crises such as pandemics, wars, and economic recessions highlight the dangers of import dependence. Self-sufficient nations can respond effectively to crises without relying on external aid. -/- Pandemic and Food Security -/- During the COVID-19 pandemic, supply chain disruptions left many countries struggling to import essential goods. However, self-sufficient nations remained stable. -/- New Zealand’s strong food production ensured that its citizens had uninterrupted access to food supplies. -/- Switzerland’s well-stocked food reserves allowed it to manage shortages without external dependence. -/- War and Trade Embargo Resilience -/- Countries that produce their own essential goods are less affected by global conflicts. -/- Iceland’s fishing industry and energy independence keep its economy stable regardless of international instability. -/- Norway’s oil reserves and food security ensure long-term resilience against economic disruptions. -/- 6. Minimal Import Dependence: The Path to Sustainable Growth -/- While some level of trade is beneficial, excessive import dependence weakens a nation’s economic and political stability. The countries examined here have taken strategic steps to limit imports while maximizing domestic production. -/- Lessons from Self-Sufficient Nations -/- 1. Invest in Renewable Energy – Iceland, Norway, and Uruguay have shown that countries can function without fossil fuel imports through hydropower, geothermal, and wind energy. -/- 2. Prioritize Food Security – Switzerland, New Zealand, and Bhutan ensure food independence through agriculture and local food production. -/- 3. Control Population Growth – Iceland and Bhutan demonstrate that sustainable population sizes lead to better economic planning and quality of life. -/- 4. Develop Strong Local Industries – Norway and Switzerland focus on high-value goods that allow them to export more than they import. -/- 5. Encourage Sustainable Practices – Bhutan and New Zealand promote environmentally friendly farming and renewable energy, ensuring long-term stability. -/- Conclusion -/- Self-sufficient countries with manageable populations and minimal reliance on imports enjoy numerous advantages, including economic stability, national security, environmental sustainability, and a high quality of life. Nations such as Norway, Switzerland, New Zealand, Iceland, Bhutan, and Uruguay demonstrate that renewable energy, food production, and population control lead to long-term prosperity. -/- As the world faces increasing economic and environmental uncertainties, adopting self-sufficiency principles can help nations become more resilient, independent, and sustainable. While globalization has its benefits, balancing local production with strategic trade is the key to securing a stable and prosperous future. -/- . (shrink)

It is crucial to actively detect the risks of transactions in a financial company to improve customer experience and minimize financial loss. In this study, we compare different machine learning algorithms to effectively and efficiently predict the legitimacy of financial transactions. The algorithms used in this study were: MLP Repressor, Random Forest Classifier, Complement NB, MLP Classifier, Gaussian NB, Bernoulli NB, LGBM Classifier, Ada Boost Classifier, K Neighbors Classifier, Logistic Regression, Bagging Classifier, Decision Tree Classifier and Deep (...) Learning. The dataset was collected from Kaggle depository. It consists of 6362620 rows and 10 columns. The best classifier with unbalanced dataset was the Random Forest Classifier. The Accuracy 99.97%, precession 99.96%, Recall 99.97% and the F1-score 99.96%. However, the best classifier with balanced dataset was the Bagging Classifier. The Accuracy 99.96%, precession 99.95%, Recall 99.98% and the F1-score 99.96%. (shrink)

Financial gerontology can be defined as investigating relations between finances and aging. Authors such as Neal E. Cutler, Kouhei Komamura, Davis W. Gregg, Shinya Kajitani, Kei Sakata, and Colin McKenzie affirm that financial literacy is an effect of aging with concern about the issue of finances, as well as stating that it is the effect of longevity and aging on economies or the financial resilience of older people.

Through the guidelines of D.O No. 22, s. 2021, the study finds that the majority of 304 teachers from both public elementary and secondary schools are married females between the ages of 30 and 40 with 1 to 4 years of work experience and 15,000 to 30,000 monthly income. Findings exposed the “high level of comprehension perceived” in financial knowledge, behavior, and attitude. Also, the perception of asset acquisitions as the highest priority, along with other relevant factors from budgeting (...) and decision-making and retirement preparedness, demonstrated “importance” in the level of their comprehension. The significant difference through test variation in teachers' retirement preparedness and asset acquisitions towards the age variable is significant. Thus, teachers' retirement preparedness based on their perceptions of budgeting has a strong impact on their teaching experience. Accordingly, financial literacy and retirement preparedness have an essential or direct relationship. This indicates a strong impact of financial preparedness on financial literacy. (shrink)

In this chapter, my main aim is to explore some of the central moral critiques of international financial institutions as well as proposals to overcome the moral problems that they face.

Background: The feeding modalities applied in countries with school meal programs are varied because these are shaped not only by the national commitments to alleviate food insecurity among children but also by resource availability from national and international agencies. In terms of financial resources, the USA plays a consistent role in providing donations, grants, loans, and loan guarantee programs to support global school feeding. The U.S. Department of Agriculture (USDA) oversees these funding sources for international school meal programs. Aim: (...) This study aims to examine the moderating effect of USDA funding on the relationship between supply purchasing methods and feeding modalities among countries implementing school meal programs. Methods: The Bayesian Mindsponge Framework, combining the reasoning strengths of Mindsponge Theory and inference advantages of Bayesian analysis, was employed on a dataset of 126 government representatives who manage large-scale school meal programs in 126 different countries. Results: The findings indicated that USDA funding has the potential to positively moderate the relationship between foreign supply purchases and the feeding modalities of school meal programs. However, the direct association between foreign purchases and feeding modalities was unclear. Conversely, while USDA funding was found to have a negative moderation effect on the relationship between domestic supply purchases and feeding modalities, it is these domestic purchases that show potential for positively influencing the feeding modalities. Conclusions: Findings underscore the importance of supporting the World Bank and World Food Programme’s recommendation to rely more on local resources and capacities for developing long-term and sustainable school meal programs. Further exploration of the impact of foreign supply purchases on feeding modalities is needed. Formulating strategic plans to better leverage USDA funding for enhancing domestic supply purchases is highly recommended. (shrink)

Before the Doi Moi reforms in 1986, Viet Nam’s economy was devastated by 30 years of warfare with two major military powers, France and the US, ending in 1975. In the subsequent 10 years, Viet Nam suffered from failing economic experiments, including agricultural cooperatization, “industry-commerce rehabilitation,” price-wage-currency reform, among others, under the centrally planned mechanism (Wood 1989), as well as the international isolation and a US trade embargo when its troops entered Cambodia to overthrow the Khmer Rouge (Riedel and Turley (...) 1999). Its per-capita gross domestic product (GDP) declined to USD 97 in 1989 whereas the ratio of external debt to GDP reached 330%. 1 The economy languished and became one of the poorest in the world (VGP 2016). (shrink)

In the beginning of the 1970s, Michel Foucault dismisses the terminology of ‘exclusion’ for his projected analytics of modern power. This rejection has had major repercussions on the theory of neoliberal subject-formation. Many researchers disproportionately stress how neoliberal dispositifs produce entrepreneurial subjects, albeit in different ways, while minimizing how these dispositifs sometimes emphatically refuse to produce neoliberal subjects. Relying on Saskia Sassen’s work on financialization, I argue that neoliberal dispositifs not only apply entrepreneurial norms, but also suspend their application for (...) groups that threaten to harm the population’s profitability. Neoliberal dispositifs not only produce entrepreneurial subjects, but also surplus populations that are expelled from the overall population to maintain its productivity. Here, the concept of ‘exclusion’ is appropriate if understood in Agamben’s sense of an inclusive exclusion. The surplus population is part of neoliberal dispositifs, but only as the element to be abandoned. (shrink)

This paper aims to study the impact of Crowdfunding financial attributes on entrepreneurship risk taking. This study was applied on Arabic Crowdfunding platforms from all crowdfunding models. The population of the study consists of individuals, entrepreneurs, investors, employees at electronic-crowd funding Arabic platforms. According to last statics at (2018), there are (12) legit Arabic platforms working in this field. Several statistical tools were used for data analysis and hypotheses testing, including reliability Correlation using Cronbach’s alpha, “ANOVA”, Simple Linear Regression. (...) The overall findings of the current paper show that there is a significant statistical impact for financial properties on entrepreneurship and this effect around (25%). Furthermore, the current paper is unique by topic and population as it is the first study on Arabic crowdfunding platforms. (shrink)

The study aimed to determine the personal financial management practices among selected personnel of the Bureau of the Treasury – Central Office. It used the descriptive method of gathering data. The respondents of the study consisted of 183 personnel from 35 divisions of the Bureau and selected through simple random probability sampling technique. The study shown that most of the respondents aged 26 to 35 years old, female, single, bachelor’s degree holder, rank and file workers, permanent employees, have been (...) in the agency for 5 years and below and with monthly compensation ranging from P15,001 – P30,000. In terms of financial planning, most of the respondents set their short and long-term financial goals. In terms of money management, most of the respondents saved so that they do not need to borrow from others. In terms of income and asset protection, most of the respondents considered uncertainties for their future. And in terms of investments, most of the respondents purchased government securities. The researcher recommended to utilize various social media platforms as an avenue for financial planning, start considering the use of credit management in the acquisition of their needs, understand the need of acquiring non-life insurance and start familiarizing themselves in the concept of the derivatives market. Also, the Bureau of the Treasury should initiate seminars/webinars about how to start writing a financial plan, effective ways in managing finances, the vital role of insurance and estate planning, and possible ways in earning money when investing on securities and derivatives. (shrink)

Most business in the Philippines is mostly in the microenterprise. Hence, this research was accomplished in order to assess the effectiveness of financial management practices of microenterprises in Quezon City. The city was selected as the locale of the research since there were various microenterprises built in this location. The respondents were classified according to the number of years in operation of their business, the number of employees, capitalization, and their source of funds. Additionally, the individual profile was also (...) classified into their age, highest educational attainment, and the number of seminars or trainings related to their business that they had attended. The assessment was specified into aspects of financial planning, financial control, and cash management. The result shows that most businesses were newly established and only operating for zero (0) to two (2) years. The result also showed that most of the respondents only had a capitalization of PHP 100,000.00 and they were utilizing their personal savings as a source of funds. Most of them are aged from twenty-one (21) to thirty (30) years with no bachelor’s degrees. They only attended seminars and training less than three (3) times. The result of this study was beneficial to business owners, local government units, government, government agencies, banks, and other financial institutions, academe, and future researchers. (shrink)

This research paper investigates the transformative applications of data visualization techniques in the realm of financial crime detection, with a specific emphasis on addressing the challenges posed by credit card fraud and money laundering. The abstract explores the intricate landscape of visualizing financial data to uncover patterns, anomalies, and potential illicit activities. Through a comprehensive review of existing methodologies and case studies, the paper illuminates the pivotal role data visualization plays in enhancing the efficiency and accuracy of fraud (...) detection systems. By synergizing advanced visualization tools with machine learning algorithms, the study aims to provide insights into how financial institutions can bolster their defenses against evolving threats. Ethical considerations, usability, and the real-world impact of data visualization in combating financial crime are also scrutinized. This research contributes to the evolving discourse on leveraging visualization technologies to fortify financial systems against illicit activities, fostering a proactive and responsive approach to safeguarding economic ecosystems. (shrink)

This study thoroughly investigates the financial behaviors of financially independent, young, single professionals aged 24 to 35 in Balayan, Batangas, amidst a period of global inflation. Focusing on five industries—education, finance, government, healthcare, and retail—the research employs a mixed-methods approach. Quantitative analysis, involving 75 respondents through a 4-point Likert scale survey, is complemented by qualitative insights from in-depth interviews with 5 participants from each industry. The findings from numerical values revealed that demographics did not impact working professionals' saving habits (...) and buying behaviors during the global inflation surge. This suggests that despite differences in age, gender, industry, employment status, and monthly income or salary, all professionals prioritized robust, strong savings and reduced spending to ensure financial stability. The research underscores the significance for professionals in various industries to prioritize specific aspects of personal financial management during the prevailing global inflation surge. The study suggests that, irrespective of industry, working professionals should prioritize specific aspects of personal financial management during the global inflation surge. (shrink)

Due to the shortage of organs, it has been proposed that the ban on organ sales is lifted and a market-based procurement system introduced. This paper assesses four prominent proposals for how such a market could be arranged: unregulated current market, regulated current market, payment-for-consent futures market, and the family-reward futures market. These are assessed in terms of how applicable prominent concerns with organ sales are for each model. The concerns evaluated are that organ markets will crowd out altruistic (...) donation, that consent to sell organs is invalid, that sellers will be harmed, and that commodification of organs will affect human relationships in a negative way. The paper concludes that the family-reward futures market fares best in this comparison but also that it provides the weakest incentive to potential buyers. There is an inverse relationship between how applicable prominent critiques are to organ market models and the increase in available organs they can be expected to provide. (shrink)

This study contributes to the limited literature on VAT’s impact on student populations by assessing the financial strain on university students in Oman. The research provides novel insights into policymaking, suggesting VAT exemptions for essential educational goods and proposing financial literacy programs for mitigating the adverse effects of VAT which employs chi-square tests and regression analysis to quantify the financial effects of VAT on students' purchasing behavior, revealing that VAT negatively impacts purchasing power with a statistically significant (...) p-value (< 0.05). The findings highlight substantial financial strain on students, particularly those in lower-income brackets, prompting policy recommendations for VAT exemptions on essential educational goods and the inclusion of financial literacy programs aimed at helping students mitigate the tax's adverse effects. This study evaluates the financial implications of the Value Added Tax (VAT) introduced in Oman in 2021, focusing on its impact on consumer behavior among university students at A’sharqiyah University. Utilizing a quantitative methodology, including chi-square tests and regression analysis, and a sample of 53 students, the research investigates the effects of VAT on purchasing power and consumption patterns. The findings demonstrate a significant disruption to students' financial capacity, with the majority reporting challenges in affording essential educational materials. By contributing to the limited body of literature on VAT’s effects on low-income populations, this study provides valuable insights into how students rationalize their consumption and cope with increased financial strain. Policy recommendations include VAT exemptions for educational goods and the implementation of comprehensive financial literacy programs to help vulnerable groups manage the tax's adverse effects. (shrink)

The credit crises experienced in the US in year 2008 is labeled as perhaps the most significant crises since the great depression. The roots of the crises were found in the default of the sub-prime mortgages and the failure occurred in both the US and the UK. Due to the integrated nature of international financial systems the spillover impacted many countries as the economies in Asia and Europe were purchasers of the sub-prime mortgages that originated in both UK and (...) US. The impact of the credit crises in Canada is of unique importance due to the close proximity to US, and both the US and Canada being of great strategic importance to each other as well as one of the largest trading partners.Even though the international financial credit crises adversely impacted many countries, the evidence that has come across recent years point towards the conclusion that Canada was able to weather the crises much better than many other countries. (shrink)

Financial literacy is becoming a pivotal skill in navigating the marketplaces within the predominant rising digital branches of trading domains; however, there remains a concerning gap in the purchasing behavior of adolescents, who are its primary users. With this in mind, the main objective of our research is to determine whether there is a relationship between a student's level of financial literacy and their online purchase decision-making. The researchers employed an explanatory mixed approach and purposive sampling to identify (...) respondents from Immaculate Conception College of Balayan, Inc. A 5-point Likert scale survey was utilized to collect data from 66 respondents, followed by semi-structured interviews with 10 selected participants. The results showed a moderately positive correlation between a student's financial literacy and online purchase decisions, as determined by the Pearson correlation coefficient. Thus, the thematic analysis revealed that respondents generally have good financial literacy, emphasizing factors like pricing, online reviews, and product ratings when making digital marketplace decisions. However, there are notable gaps in their understanding of basic financial concepts and their ability to apply them in real-life situations. To effectively enhance students’ financial literacy and online purchasing decisions, a holistic approach is necessary, including targeted interventions, practical applications, and continuous adaptation to evolving consumer behaviors. Educational institutions, policymakers, and stakeholders should work together to create comprehensive programs that provide students with the knowledge, skills, and attitudes needed to negotiate real-world financial situations and make sound judgments in the digital commerce ecosystem. By emphasizing practical learning, key financial concepts, and trustbuilding approaches, educators may empower students to become responsible consumers capable of managing their resources successfully and ethically. (shrink)

Although Minsky’s interpretation of Keynes’s macroeconomics and essential message clashes with authoritative alternative interpretations, it has become increasingly influential during the years following the Global Financial Crisis, even in mainstream circles. This paper offers a critical evaluation of Minsky’s Financial Instability Hypothesis from the perspective of the alternative Austro-Wicksellian paradigm. Although some of the similarities and/or analogies between Minsky’s approach and that of the Austrian School suggest a more than merely superficial affinity between the two theoretical frameworks and (...) although some scope for cross-fertilization between both approaches can be found, both theoretically and empirically, at a fundamental conceptual level both theories remain incompatible and difficult if not impossible to reconcile, in particular in terms of fundamental causality and in terms of policy conclusions and prescriptions. Despite the fact that Minsky’s policy conclusions are multifaceted and somewhat eclectic, they manifest a lack of familiarity with the conclusions of the Austrian analysis of the problems of central planning by Big Players such as Big Bank and Big Government. Both approaches also offer contrasting interpretations of the historical experience of the Global Financial Crisis. (shrink)

As part of their digital transformation, financial service companies can greatly benefit from the implementation of a microservice architecture. We can build a service-oriented architecture (SOA) application using the architecture to enhance its overall performance and maintainability. This enables the application to consist of several smaller components that operate independently and simultaneously. In the financial services industry, the accuracy of artifact states holds immense significance. Given that an inaccurate artifact state or anomalous artifact operation(s) could potentially ruin the (...) entire application, it is crucial to conduct an analysis of the artifact operations within each microservice during the design process. In this study, we present a technique for identifying anomalies through the characteristics of artifacts associated with the microservice architecture. Following this, we identify the properties of artifacts. As a result of technological improvements and shifting client expectations, the financial sector is currently going through a tremendous upheaval. Among these advancements, microservices architecture has emerged as a key enabler of agility, scalability, and innovation in banking systems. This paper delves into the relationship between microservices and banking security, emphasizing the use of microservices to strengthen financial systems in the face of growing cyber security risks. The microservices architecture simplifies the development, deployment, and scalability of big financial applications by separating them into smaller, self-contained services. This modular approach not only makes the system more reliable and helps separate problems, but it also makes continuous integration and delivery (CI/CD) easier, which lets you respond quickly to changes in the market and new rules. However, the implementation of microservices introduces new security challenges, such as controlling inter-service communication, ensuring data integrity, and safeguarding against attack detection and protection. (shrink)

The study investigated Meta-analysis on the effects of financial status on nutrigenomics and personalized diet in Nigeria. The study was guided by four research questions and three null hypotheses tested at 0.05 level of significance. The designs for this study were systematic review and meta-analytic. The study has infinite population. However, 53 studies on the effects of financial status on nutrigenomics and personalized diet in Nigeria were identified. Out of the 53 studies identified, only 31 studies which met (...) the requirements for meta-analysis were used as the sample. The sampling techniques were purposive and snowballing. A pro-forma was used for data collection. The instrument was validated by experts and the internal consistency reliability value of 0.97 was obtained using inter-rater agreement. Data collected with the instrument were analyzed with effect size, average weighted mean Z, Winer combined test and Fisher statistical transformation tables. The findings of the study revealed: moderate effect size on lower and upper financial status on nutrigenomics and personalized diet, small effect size on upper financial status on nutrigenomics and personalized diet, large effect size on lower financial status on nutrigenomics and personalized diet and variation on effect sizes of lower and upper financial status on nutrigenomics and personalized diet and significant effect sizes on upper, lower and consequently on lower and upper financial status on nutrigenomics and personalized diet 464 at Z-critical value of 1.96 at the 0.05 level of significance. (shrink)

This research paper delves into the realm of Financial Network Analytics, unraveling the opportunities and challenges it presents in the domains of systemic risk management and investment analysis. The study navigates the intricate web of interconnected financial entities, employing advanced analytics techniques to uncover meaningful insights. Through a comprehensive exploration, the paper identifies opportunities for leveraging financial network data to enhance systemic risk detection mechanisms and refine investment strategies. Simultaneously, it addresses the inherent challenges, such as data (...) complexity and dynamic network structures, offering nuanced perspectives on their implications. The findings contribute to the evolving landscape of financial analytics, providing a foundation for the development of robust tools and methodologies that can aid financial institutions and investors in navigating the complexities of modern financial networks. (shrink)

According to the classical finance theory it is assumed that investors show rational behaviour in order to achieve maximum gain.but this approach has changed since 1980s. There are a lot of academic studies emphasizing the determining effect of human psychology in financial decisions. Behavioral finance considers the interaction between emotions and investors decisions. According to the New financial approach investors show irrational behaviours and take prejudices into the account for investment decisions as opposed to traditional perspective. Behavioral finance (...) analyzes the market anomalies which conventional financial theories are inadequate to explain based on an assumption that individuals are not rational. While doing this, it benefits from the other sciences such as psychology, sociology, and antropology, etc. One type of behavioral finance is herd behavior. In this paper, domestic and foreign literature research on herd behavior in financial markets were analyzed. (shrink)

This paper provides a comprehensive review of the Vasicek model and its applications in finance, categorizing the literature into four key areas: Vasicek model applications, Monte Carlo simulations, negative interest rates and risk, and deep learning for financial time series. To provide deeper insights, a synthesis chart and chronological analysis are included to highlight significant trends and contributions. Building upon this foundation, we employ Generative Adversarial Networks (GANs) and Variational Autoencoders (VAEs) to generate synthetic future interest rate data. These (...) generated projections are then integrated as inputs into the Vasicek model, dynamically adjusting its parameters with the support of AI-driven synthetic data. Additionally, we propose the use of publicly available financial information, gathered via public-facing large language models (LLMs) like ChatGPT, to assess whether the models project trends in line with real-world data. Specifically, we will query ChatGPT to analyze 50 key questions related to interest rates, risk management strategies, inflation, and economic indicators from institutions like the Federal Reserve and banks. Our approach also leverages publicly available information to refine model outputs, reducing reliance on assumptions and emphasizing the alignment of AI-generated noise with observable market behaviors. By integrating these real-world insights, we aim to ensure that our models remain both innovative and grounded in current economic realities. Ultimately, this framework combines advanced generative AI models, such as GANs and VAEs, with human oversight and economic data, providing a robust, adaptable, and forward-thinking approach to financial risk modeling. Keywords: GANs, VAEs, Vasicek, GenAI, Financial Risk Modeling. (shrink)

The article discloses the problem of distributing state financial support based on an integrated approach. The study has proved the urgency and necessity of state support for the lowest priority territorial units (regions). It answers the research question of what components need to be included in the methodology for determining state financial support. A comprehensive method for estimating the share of public funds is proposed, taking into account the investment attractiveness of a region (oblast) and the risk of (...) the corresponding region (oblast). To achieve this goal, the following general scientific and special methods and research techniques were used in the work, such as comparative analysis of scientific literature and information sources based on methods of comparison, systematization, and generalization; generalization of the analysis results, as well as logical generation of conclusions and integral assessment. -/- Since the problem of financing the construction and reconstruction of bridges is relevant for a number of countries, this technique was tested using an example of bridge construction. -/- According to the obtained results, territorial units (regions) that are not leaders in priority for the investor and have a high level of riskiness of investing financial resources become eligible for state financial support. The problem of financing such regions can be solved only through state support. The results of calculations show that the distribution of financial resources with the available volume of public finances K=1 allocated for support is carried out proportionally. An integrated approach made it possible to identify 10 territorial units (oblasts) for funding, with the oblasts with the worst priority factors receiving the largest share of state financial support. -/- This study is of practical interest to government agencies in the distribution of public funds, and it is of theoretical importance to researchers dealing with issues of financial security and public administration. (shrink)

Financial distress in the hospitality industry affects both businesses and their employees. This study explores the perspectives of employees on financial distress within the hospitality sector in Imo State, Nigeria. The study addressed three research questions. Survey research design was adopted for the study. The study was carried out in Imo State Nigeria. 361 financial officers in the hotels within the hospitality industry in Owerri Imo State were the target population and random sampling was used to select (...) 181 hotels whose financial officers served as the study respondents. Structured questionnaire was specifically designed for this study. The data was analyzed using mean, and standard deviation to provide an overview of employee perspectives on financial distress. The results indicate that a wide range of variables, such as economic downturns, irregular revenue, high cost of living, and management concerns within businesses, are responsible for financial hardship among employees in the hotel industry in Imo State. Employees also mentioned that worry, anxiety, and job instability were direct effects of their financial hardship. Based on the results, a number of suggestions are made to lessen financial hardship. These include putting in place financial literacy initiatives for staff members, enhancing management-staff communication and transparency, supporting ethical labor practices, and encouraging social support systems within the workplace. (shrink)

The recently rising field of Critical Data Studies is still facing fundamental questions. Among these is the enigma of digital subjectivation. Who are the subjects of Big Data? A field where this question is particularly pressing is finance. Since the 1990s traders have been steadily integrated into computerized data assemblages, which calls for an ontology that eliminates the distinction between human sovereign subjects and non-human instrumental objects. The latter subjectivize traders in pre-conscious ways, because human consciousness runs too slow to (...) follow the volatility of the market. In response to this conundrum Social Studies of Finance has drawn on Actor-Network Theory to interpret financial markets as technically constructed networks of human and non-human actors. I argue that in order to develop an explicitly critical data study it might be advantageous to refer to Maurizio Lazzarato’s theory of machinic subjugation instead. Although both accounts describe financial digital subjectivation similarly, Lazzarato has the advantage of coupling his description to a clear critique of and resistance to finance. (shrink)

This research examined the management of financial and non-financial resources by Calabar Metropolis’ public secondary school principals in relation to the fulfillment of institutional goals. Null hypotheses were developed based on the two specific objectives guiding the study. The study used the ex-post facto research design under the quantitative research framework. A census approach was adopted in enumerating all the 69 school managers (24 principals and 45 vice principals) in Calabar Metropolis, Nigeria. A validated questionnaire, with a reliability (...) index of .90, was used for data collection. It was shown that there is a considerable association between the management of financial resources by school leaders and the fulfillment of institutional goals. A significant relationship was also established between principals’ management of non-financial resources (such as school libraries, school records and human resources) and the fulfillment of institutional goals in secondary schools. It is argued that to fulfil educational goals, financial and non-financial resources’ management in public secondary schools are critical. Policy and theoretical implications for successful educational management were discussed in light of this result. (shrink)

The purpose of the paper is to determine the state of automotive corporations financial stability and to generalize the consequences of its violation for their activity and the global economy as a whole. Methods. The theoretical and methodological basis of the research is the scientific works in the field of corporate finance management and strategic development that studied analyzing and evaluating the financial stability of corporate companies, maintaining their financial stability in the medium and long term, official (...) statistics data of United Nations Conference on Trade and Development, financial statements of corporations Toyota Motor Corporation (Japan), Mercedes-Benz (Germany) and Tesla Motors (USA), own research results. The methodological basis of the study is a set of general scientific and special methods used to achieve the research goal: theoretical generalization, analysis and synthesis – in studying the content of scientific works on the research of financial stability of corporate companies and maintaining their financial stability; observation – to obtain primary information about the state of the world automotive market; the method of coefficient analysis and typing the situations – to assess the financial stability of automotive corporations; analytical – in determining the economic consequences of financial stability violation of automotive corporations; causation – to obtain final conclusions. Results. This article deals with the development of automotive industry in the world. The financial stability of leading automotive corporations is evaluated. The economic consequences of financial stability violation of automotive corporations are summarized. Financial strategies to improve the financial stability of automotive corporations are proposed. Practical value. The results of the study may be useful to the United Nations Conference on Trade and Development, the financial management of Toyota Motor Corporation, Mercedes-Benz and Tesla Motors. Value / originality – the state of financial stability of automotive corporations is determined and the consequences of its violation for their activity and the world economy as a whole are generalized. Further research should be directed towards the development of project measures to improve the financial stability of automotive corporations in the world. (shrink)

This special issue introduces the study of financial technologies and finance to the field of philosophy of technology, bringing together two different fields that have not traditionally been in dialogue. The included articles are: Digital Art as ‘Monetised Graphics’: Enforcing Intellectual Property on the Blockchain, by Martin Zeilinger; Fundamentals of Algorithmic Markets: Liquidity, Contingency, and the Incomputability of Exchange, by Laura Lotti; ‘Crises of Modernity’ Discourses and the Rise of Financial Technologies in a Contested Mechanized World, by Marinus (...) Ossewaarde; Two Technical Images: Blockchain and High-Frequency Trading, by Diego Viana; and The Blockchain as a Narrative Technology: Investigating the Social Ontology and Normative Configurations of Cryptocurrencies, by Wessel Reijers and Mark Coeckelbergh. (shrink)

This article presents a new model for valuing financial contracts subject to credit risk and collateralization. Examples include the valuation of a credit default swap (CDS) contract that is affected by the trilateral credit risk of the buyer, seller and reference entity. We show that default dependency has a significant impact on asset pricing. In fact, correlated default risk is one of the most pervasive threats in financial markets. We also show that a fully collateralized CDS is not (...) equivalent to a risk-free one. In other words, full collateralization cannot eliminate counterparty risk completely in the CDS market. (shrink)

To what extent are questions of sovereign debt a matter for political rather than scientific or moral adjudication? We answer that question by defending three claims. We argue that (i) moral and technocratic takes on sovereign debt tend to be ideological in a pejorative sense of the term, and that therefore (ii) sovereign debt should be politicised all the way down. We then show that this sort of politicisation need not boil down to the crude Realpolitik of debtor-creditor power relations—a (...) conclusion that would leave no room for normative theory, among other problems. Rather, we argue that (iii) in a democratic context, a realist approach to politics centred on what Bernard Williams calls ‘The Basic Legitimation Demand’ affords a deliberative approach to the normative evaluation of public debt policy options. (shrink)

Sumantra Ghoshal’s condemnation of “bad management theories” that were “destroying good management practices” has not lost any of its salience, after a decade. Management theories anchored in agency theory (and neo-classical economics generally) continue to abet the financialization of society and undermine the functioning of business. An alternative approach (drawn from a more classic institutional, new ecological, and refocused ethical approaches) is reviewed.