Background: Critically ill patients often require complex clinical care by highly trained staff within a specialized intensive care unit (ICU) with advanced equipment. There are currently limited data on the costs of critical care in low-and middle-income countries (LMICs). This study aims to investigate the direct-medical costs of key infectious disease (tetanus, sepsis, and dengue) patients admitted to ICU in a hospital in Ho Chi Minh City (HCMC), Vietnam, and explores how the costs and cost drivers can vary between the (...) different diseases. -/- Methods: We calculated the direct medical costs for patients requiring critical care for tetanus, dengue and sepsis. Costing data (stratified into different cost categories) were extracted from the bills of patients hospitalized to the adult ICU with a dengue, sepsis and tetanus diagnosis that were enrolled in three studies conducted at the Hospital for Tropical Diseases in HCMC from January 2017 to December 2019. The costs were considered from the health sector perspective. The total sample size in this study was 342 patients. -/- Results: ICU care was associated with significant direct medical costs. For patients that did not require mechanical ventilation, the median total ICU cost per patient varied between US$64.40 and US$675 for the different diseases. The costs were higher for patients that required mechanical ventilation, with the median total ICU cost per patient for the different diseases varying between US$2,590 and US$4,250. The main cost drivers varied according to disease and associated severity. -/- Conclusion: This study demonstrates the notable cost of ICU care in Vietnam and in similar LMIC settings. Future studies are needed to further evaluate the costs and economic burden incurred by ICU patients. The data also highlight the importance of evaluating novel critical care interventions that could reduce the costs of ICU care. (shrink)

Nghiên cứu thực hiện phân tích và đánh giá tình hình áp dụng thương mại điện tử (TMĐT) của các tiểu thương. Thông qua phương pháp định lượng với số mẫu khảo sát là 185 tiểu thương bán lẻ tại chợ Vĩnh Long, kết quả nghiên cứu cho thấy, có 29,73% tiểu thương đã áp dụng TMĐT, chủ yếu qua mạng xã hội. Tỷ lệ này còn khá thấp. Các thách thức chính là chi phí đầu tư cao, thiếu kiến (...) thức công nghệ, và tâm lý ngại thay đổi. TMĐT cũng mang lại cơ hội mở rộng thị trường và giảm chi phí vận hành. Khoảng 80% tiểu thương nhận thấy lợi ích trong việc tiếp cận khách hàng và 50,91% thấy giảm chi phí vận hành là quan trọng. Từ dó, các giải pháp cũng được đề xuất nhằm giúp tiểu thương vượt qua rào cản và khai thác tiềm năng của TMĐT. (shrink)

Bài viết xác định các yếu tố có tác động lớn tới rủi ro tài chính tại các doanh nghiệp sản xuất niêm yết trên sàn chứng khoán Việt Nam dựa trên phương pháp chọn biến LASSO và xây dựng mô hình học máy dự báo rủi ro tài chính. Kết quả nghiên cứu cho thấy, mô hình LASSO đã xác định 5 chỉ số tài chính ảnh hưởng đến rủi ro tài chính mà các doanh nghiệp rủi ro gặp (...) phải trong suốt 5 năm (2017-2021) gồm: Hệ số khả năng thanh toán ngắn hạn (Tài sản ngắn hạn/Nợ ngắn hạn); Số vòng quay tổng tài sản (Doanh thu thuần/Tổng tài sản); ROA (Lợi nhuận sau thuế/Tổng tài sản); Tỷ lệ Nợ dài hạn trên Tổng tài sản; Tỷ lệ Nợ ngắn hạn trên Tổng nợ phải trả. Mạng nơron nhân tạo (Artificial Neural Network - ANN) cho thấy, Hiệu quả cao nhất trong việc dự đoán tình hình rủi ro tài chính. Từ đó, đề xuất một số giải pháp và chính sách cho các doanh nghiệp. [By LASSO variable selection method and machine learning to predict financial risk, the paper aims to discover factors that have a major impact on financial risk in manufacturing enterprises listed on the Vietnamese stock exchange. Research results indicates that the LASSO model identifies 5 financial indicators affecting financial risks which risky businesses faced during 5 years (2017-2021), they are Short-term solvency ratio (Short-term assets/Short-term liabilities); Total asset turnover (Net revenue/Total assets); ROA (Profit after tax/Total assets); Long-term debt to total asset ratio; Short-term debt to total debt ratio. Artificial Neural Network (ANN) shows the highest efficiency in predicting financial risk. From those finding, the paper proposes some solutions and policies for businesses.]. (shrink)

Ngành dầu khí là tiền đề quan trọng hỗ trợ phát triển nền kinh tế, vì thế, nhiều doanh nghiệp dầu khí đang từng bước phát triển mạnh. Nghiên cứu tìm hiểu và đo lường hiệu quả quản lý tài sản của 8 doanh nghiệp dầu khí tại Việt Nam từ năm 2019 tới năm 2023 dựa theo mô hình hiệu quả cao (Super Slacked-based mearesure - SBM) sử dụng phương pháp phân tích bao hàm dữ liệu (Data envelopment analysis (...) - DEA). Kết quả nghiên cứu đã tìm ra được điểm số hiệu quả về quản lý tài sản đối với từng doanh nghiệp trong từng năm và gợi ý ra giải pháp nâng cao hiệu quả trong tương lai. (shrink)

Thời gian qua, Phú Yên đã có nhiều hoạt động thúc đẩy “ngành công nghiệp không khói” phát triển. Trong phạm vi bài viết này, tác giả phân tích tiềm năng và thực trạng phát triển du lịch tỉnh Phú Yên, từ đó đề xuất một số giải pháp nhằm phát triển du lịch Phú Yên trong thời gian tới.

Sustainable economic growth is not only the ultimate goal of business corporations but also the primary target of local governments as well as regional and global economies. One of the cornerstones of sustainable economic growth is ethics. Ethical leaders and employees have great potential for positive influence on decisions and behaviors that lead to sustainability. Ethical behavior, therefore, is expected of everyone in the modern workplace. This paper argues that ethics in the business is the most important sector in leading (...) to profits and being successful in the long run, an organization needs to be driven by strong ethical values, not only profit. (shrink)

Bằng cách vận dụng mô hình lý thuyết S-O-R, nghiên cứu kiểm định ảnh hưởng của TikTok đến hành vi mua hàng của khách hàng Gen Z tại TP. Hồ Chí Minh. Mẫu nghiên cứu thu thập từ khảo sát trực tuyến có kích cỡ là 300. Kết quả thực nghiệm đã khẳng định rằng, Sự đồng hiện diện và Niềm tin của người tiêu dùng có ảnh hưởng đến Hành vi mua hàng trên nền tảng TikTok. Trên cơ sở (...) kết quả nghiên cứu, một số hàm ý quản trị đã được đề xuất. (shrink)

Nghiên cứu này trình bày cơ sở lý luận và đánh giá kết quả quản lý dự án đầu tư xây dựng tại các bаn quản lý dự án cấp tỉnh trên địa bàn tỉnh Nghệ An. Từ kết quả nghiên cứu, nhóm tác giả đề xuất một số giải pháp có giá trị thực tiễn nhằm nâng cao kết quả quản lý dự án đầu tư xây dựng tại các bаn quản lý dự án cấp tỉnh, phù hợp với (...) xu hướng phát triển hiện nay. (shrink)

The water scarcity crisis is becoming more severe across the globe and recycled water has been suggested as a feasible solution to the crisis. However, expanding the use of potable and recycled public water has been hindered by public acceptance. Previous studies suggest threat perception and trust of provided information have positive linear relationships with recycled water acceptance. However, given the complex filtering role of trust in the human mental process, we argue that the effects of threat perception and trust (...) may have non-linear relationships with acceptance of recycled water for drinking. To support and validate this argument, we employed Bayesian Mindsponge Framework analytics on 726 Spanish residents. We found that individuals more concerned about water shortage are less likely to accept using recycled water for drinking if their trust in the water quality and safety is low. Meanwhile, people more concerned about water shortage are more likely to accept using recycled water for drinking if they trust the water quality and safety. The findings suggest the non-linear relationships between threat perception, trust, and recycled water acceptance while validating mindsponge-based reasoning. Moreover, the results also highlight the importance of trust in influencing the mental process’s outcome: recycled water acceptance. (shrink)

This viewpoint provides an explanation from the public health policies of Vietnamese government to contain the contagious disease with regard to COVID-19 pandemic. A combination of an early lockdown, increase in “virality” of the health information, encouragement in health declaration, regulation for wearing mask in the public, and country’s unity have been the effective ways to cope with this deadly virus in Vietnam, a developing country, which became the first country to halt the SARS spread successfully in 2003.

Đại dịch Covid-19 đã và đang gây ra nhiều tác động tiêu cực với nền kinh tế xã hội của cả thế giới. Trong bối cảnh khủng hoảng toàn cầu đặt ra nhiều thách thức, ESG không chỉ là xu hướng chung mà còn là giải pháp cần thiết để giải quyết các vấn đề về môi trường, xã hội và quản trị, hướng đến phát triển kinh tế tuần hoàn (KTTH), điều mà tất cả các quốc gia trên thế (...) giới đều quan tâm và định hướng phát triển. Nghiên cứu này nhằm cung cấp cái nhìn tổng quan về ESG, phân tích thực trạng ESG tại Việt Nam, bao gồm: cam kết và chính sách của Chính phủ, cam kết và thực hành của doanh nghiệp (DN) Việt Nam; từ đó, đưa ra một số giải pháp nhằm thúc đẩy tiến trình cam kết và thực hành ESG ở Việt Nam. [he Covid-19 pandemic has been causing various negative impacts on the socio-economy worldwide. In the context of a global crisis that poses many challenges, ESG is not only a general trend but also a necessary solution to solve environmental, social and governance issues, towards the development of circular economy, a goal that all countries in the world are interested in and oriented their development. This study aims to provide an overview of ESG, analyzing the current state of ESG in Vietnam, including: commitments and policies of the Government, commitments and practices of Vietnamese enterprises; From there, we propose a number of solutions to promote the process of commitment and practice of ESG in Vietnam.]. (shrink)

This study aims to determine driving factors significantly influencing the purchase intention and to identify impediments creating the intention –behavior gap regarding organic food consumption in Vietnam. The chosen driving factors affecting the organic food purchase intention in this study are health benefits, environmental awareness, and social norms, whereas trust, price, and convenience as well as availability are investigated as deterrent factors of the link between intention and behavior. A structured online questionnaire with snow-balling sampling method was distributed to collect (...) a representative sample of 466 Vietnamese consumers nationwide. A five-point likert scale was used for the level of approval for 36 statements. Statistical tools of SPSS 22.0 including descriptive analysis, principal component analysis, and multiple regression analysis models were used for data analysis. The results showed that health benefits, environmental awareness, and social norms were facilitators of organic food purchase intention. Although high intention to purchase organic foods was identified in Vietnam, it was not translated into actual purchase behavior. The main barriers for the inconsistency were premium price and low availability of organic products or inconvenience to buy in the market. Lack of trust insignificantly impacted on organic food choices among Vietnamese consumers in this study. These empirical findings and suggestions are beneficial for all players across supply chains. (shrink)

‘Dumping’ is a practice in international trade whereby a product is introduced into the commerce of another country at less than its ‘normal value,’ which might cause or threaten material injury to the domestic industry of the importing country. To address the practice of dumping and provide rules to deal with it, the World Trade Organization (WTO) adopted the Agreement on Implementation of Article VI of the General Agreement on Tariffs and Trade (1994), known as the Anti-Dumping Agreement (ADA). -/- (...) The ADA sets out anti-dumping investigation procedures that importing countries must follow if they wish to impose anti-dumping measures, which are determined by comparing the normal value and the export price of the goods in question. However, not all countries are treated equally under these arrangements. Countries that are non-market economies (NMEs) are accorded special treatment provided by specific rules, including the option for investigating authorities to resort to surrogate prices in a third country for the purpose of establishing normal value. This application of surrogate prices is referred to as ‘NME treatment’. In the absence of an internationally recognised definition of an NME, each WTO Member has adopted its own definition and/or a list of NMEs. Vietnam, a WTO Member whose economy is moving from being centrally planned to being market-based, is considered an NME by both the United States (US) and the European Union (EU). This research investigates whether the non-market economy status of NMEs such as Vietnam disadvantages exporters in anti-dumping investigations and proceedings. The research analyses legal, procedural and other issues relating to the non-market economy status of NMEs in general and Vietnam in particular, in anti-dumping investigations and proceedings conducted by the US and the EU. The research uses a qualitative methodology design, by which data was collected primarily using desk-based study, supplemented by interviews with anti-dumping experts, Vietnamese exporters and government officials. It involves the examination of international law pertaining to anti-dumping, the US and EU anti-dumping laws and investigation procedures, analysis of the WTO anti-dumping dispute settlement procedures and related jurisprudence, as well as the analysis of Vietnam’s transition to a market economy. -/- The research has found that both the US and EU treat Vietnam as a NME and have developed their own specific methodologies for anti-dumping investigations on exports from Vietnam. Furthermore, it highlights the wide discretion of the US and the EU under their domestic laws in many stages of anti-dumping investigations. -/- The findings also show that the WTO Dispute Settlement Body generally considers the US and the EU practices to be consistent with the ADA provisions. However, certain US and EU practices were found to be inconsistent with the ADA, including ‘zeroing’, limited examination, surrogate country selection, and the imposition of the ‘entity-wide rate.’ Further, by applying these practices, investigating authorities might establish unpredictable normal values that may inflate the estimated dumping margins and ultimately lead to the imposition of a higher than appropriate anti-dumping duty. The analysis concludes that the NME status of countries such as Vietnam disadvantages them when facing claims of dumping. Finally, this thesis provides recommendations for Vietnamese exporters that will serve to improve their competence as defendants/respondents in anti-dumping investigations and proceedings and more effectively demonstrate the degree to which their operations are based on market-based principles. Recommendations are also provided to the Vietnam Government on ways in which it can support Vietnamese exporters in anti-dumping investigations and proceedings. (shrink)

Dựa trên việc khảo sát 200 du khách nội địa đến với điểm đến Làng hoa Sa Đéc (tỉnh Đồng Tháp), nghiên cứu này đánh giá ảnh hưởng của sức hấp dẫn điểm đến, sự hài lòng tới lòng trung thành điểm đến Làng hoa Sa Đéc của du khách nội địa. Kết quả cho thấy, Sức hấp dẫn điểm đến có ảnh hưởng tích cực và trực tiếp đến Sự hài lòng; trong khi đó, Sự hài lòng có ảnh (...) hưởng tích cực và trực tiếp đến Lòng trung thành điểm đến. [Based on a survey of 200 domestic tourists to the tourist destination Dong Thap. In this study, based on the results of previous studies, the author proposed a model to study the effects of destination attractiveness and satisfaction on destination loyalty of domestic tourists. Furthermore, the author uses the method of analyzing and verifying the linear structural model (SEM) with the support of the SmartSPL3.0 tool. The results show that the destination attractiveness factor has a positive and direct influence on satisfaction, satisfaction has a positive and direct influence on destination loyalty. In addition, research results also show that destination attractiveness does not directly affect destination loyalty. (shrink)

In the trust-health relationship, how trusting other people in society may promote good health is a topic often examined. However, the other direction of influence – how health may affect trust – has not been well explored. In order to investigate this possible effect, we employed Bayesian Mindsponge Framework (BMF) analytics to go deeper into the information processing mechanisms underlying the expressions of trust. Conducting Bayesian analysis on a dataset of 1237 residents from Cali, Colombia, we found that general health (...) status is positively associated with generalized trust, but recent experiences of illnesses/injuries have a negative moderating effect. Personalized trust is largely unchanged across different general health conditions, but the trust level becomes higher with recent experiences of illnesses/injuries. Psychophysiological mechanisms of increasing information filtering intensity toward unfamiliar sources during a vulnerable state of health is a plausible explanation of found patterns in generalized trust. Because established personal relationships are reinforced information channels, personalized trust is not affected as much. Rather, the results suggest that people may rely even more on loved ones when they are in bad health conditions. This exploratory study shows that the trust-health relationship can be examined from a different angle that may provide new insights. (shrink)

Nghiên cứu nhằm tìm hiểu mối quan hệ giữa Chánh niệm tiêu dùng, Trải nghiệm thương hiệu, Gắn kết thương hiệu và Niềm tin thương hiệu ngành công nghệ thông tin tại TP. Hồ Chí Minh. Kết quả nghiên cứu cho thấy, Trải nghiệm thương hiệu tác động lên Niềm tin thương hiệu; Niềm tin thương hiệu tác động lên Gắn kết thương hiệu; Chánh niệm tiêu dùng tác động lên Gắn kết thương hiệu. Kết quả nghiên cứu cũng đóng (...) góp vào dòng các nghiên cứu về Trải nghiệm thương hiệu và đặc biệt là khái niệm Chánh niệm tiêu dùng, góp phần phát triển và ổn định thang đo kế thừa cho thị trường nghiên cứu Việt Nam. Nghiên cứu còn là bằng chứng thực nghiệm cho khái niệm nghiên cứu tương đối mới trong thị trường nghiên cứu về Chánh niệm trong tiêu dùng. (shrink)

Cuộc khủng hoảng 2007-2008 nổ ra ở Hoa Kỳ kéo theo sự lao dốc của các thị trường chứng khoán các nước cho thấy tồn tại tác động lan truyền từ thị trường này sang thị trường khác. Mục tiêu của bài nghiên cứu nhằm kiểm tra mức độ lan truyền trong tỷ suất lợi nhuận và độ biến động tỷ suất lợi nhuận từ các thị trường chứng khoán phát triển (Hoa Kỳ và Nhật Bản) đến tám thị trường (...) các nước mới nổi (Ấn Độ, Trung Quốc, Indonesia, Hàn Quốc, Malaysia, Philippines, Đài Loan, Thái Lan) và Việt Nam. Nghiên cứu sử dụng các biến ngoại sinh là cú sốc từ thị trường Mỹ và Nhật Bản và hiệu ứng ngày trong mô hình ARMA(1,1)-GARCH(1,1) trên dữ liệu của các nước mới nổi khu vực châu Á và Việt Nam nhằm đánh giá tác động lan truyền. Nghiên cứu đưa ra một số kết quả như sau. Thứ nhất, hiệu ứng ngày tồn tại trên sáu trong số chín thị trường chứng khoán được nghiên cứu, ngoại trừ Ấn Độ, Đài Loan và Philippines. Thứ hai, tồn tại tác động lan truyền trong tỷ suất lợi nhuận giữa các thị trường với mức độ khác nhau, trong đó, Hoa Kỳ có tác động mạnh hơn đến thị trường Malaysia, Philippines và Việt Nam; ngược lại, Nhật Bản có hiệu ứng lan truyền cao hơn đến thị trường Trung Quốc, Ấn Độ, Hàn Quốc và Thái Lan; đối với thị trường Indonesia, hiệu ứng lan truyền từ Hoa Kỳ và Nhật Bản là tương đương. Cuối cùng, nghiên cứu không tìm thấy bằng chứng về hiệu ứng lan truyền trong độ biến động từ thị trường Hoa Kỳ và Nhật Bản đến các thị trường mới nổi khu vực châu Á và Việt Nam... (shrink)

Hậu quả và ảnh hưởng của biến đổi khí hậu, mất đa dạng sinh thái, và suy thoái môi trường đang dần trở nên rõ ràng hơn. Điều này cũng kéo theo sự gia tăng nhanh chóng các mâu thuẫn và xung đột xã hội. Chính vì thế, trong những năm gần đây, việc kiện tụng liên quan đến môi trường đang ngày trở nên nhiều hơn, và quy mô cũng lớn hơn, đặc biệt là giữa các công ty và (...) nhà hoạt động môi trường. Những vụ kiện này thường xoay quanh các vấn đề quan trọng như biến đổi khí hậu, ô nhiễm, khai thác tài nguyên hủy hoại môi trường sống, gây rối loạn hệ sinh thái, hủy diệt đa dạng sinh học, và tiêu diệt nguồn sinh kế của người dân. Để đạt được các mục tiêu giảm biến đổi khí hậu, bảo vệ môi trường và môi sinh, đồng thời đảm bảo sự phát triển bền vững, cũng như là công lý cho cả con người và thiên nhiên, chính quyền và hệ thống tư pháp cần hiểu rõ bản chất bản chất của các mâu thuẫn dẫn đến cuộc chiến pháp lý về môi trường. Bài viết này có mục đích tìm hiểu bối cảnh phức tạp của các cuộc chiến pháp lý về môi trường, làm sáng tỏ tầm quan trọng và kết quả tiềm tàng của chúng, từ đó chỉ ra một số lỗ hổng pháp lý và khiếu kiện môi trường tại Việt Nam. (shrink)

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)

Hậu quả và ảnh hưởng của biến đổi khí hậu, mất đa dạng sinh thái, và suy thoái môi trường đang dần trở nên rõ ràng hơn. Điều này cũng kéo theo sự gia tăng nhanh chóng các mâu thuẫn và xung đột xã hội. Chính vì thế, trong những năm gần đây, việc kiện tụng liên quan đến môi trường đang ngày trở nên nhiều hơn, và quy mô cũng lớn hơn, đặc biệt là giữa các công ty và (...) nhà hoạt động môi trường. Những vụ kiện này thường xoay quanh các vấn đề quan trọng như: biến đổi khí hậu, ô nhiễm, khai thác tài nguyên hủy hoại môi trường sống, gây rối loạn hệ sinh thái, hủy diệt đa dạng sinh học, và tiêu diệt nguồn sinh kế của người dân. (shrink)

The study aims to determine the socio-demographic and debt profile of the public-school teachers in the Schools Division of Aklan, Philippines, their reasons on acquiring debt and perceived ways to avoid debts. This study utilized descriptive correlational research design utilizing a researcher-made instrument on socio-demographic profile, pattern of expenditures, debt profile covering the type of debts, total cost of debts, reasons for having debts and perceived ways to manage debts. The data gathered were tabulated and analyzed using the IBM Statistical (...) Package for Social Sciences (SPSS) version 26. The take-home pay of the teachers was only more than half of their gross income. Most of the spouses of the married teachers were employed but many of them have relatively lower income. Their monthly family income was higher than the reported average family income for 2022 and their expenditures are also relatively higher than the average family expenditures in provinces for 2022. Almost one-half of the income of the teachers was used to pay their debts – both thru automatic payroll deduction and thru personal transactions. The bigger the household size, the higher the expenditure because there were more needs and there were many people consuming commodities. The higher the family income, the bigger the expenditure since lifestyle often adjusts with income. Young; married teachers; those occupying higher position and longer tenure have higher cumulative debts. Increase in family expenditure could cause increase in the number of debts as linked to the Theory of Reasoned Action and Theory of Planned Behavior. High regard for education, health, and safety triggered teachers to have debts, which can only be avoided thru better money and lifestyle management and having additional source of income. (shrink)

Thị trường carbon toàn cầu đã trở thành một yếu tố quan trọng trong cuộc chiến chống biến đổi khí hậu, cung cấp cơ hội cho các chính phủ, doanh nghiệp và tổ chức giảm lượng khí thải khí nhà kính. Tuy nhiên, với sự gia tăng về tầm quan trọng của thị trường carbon, sự phức tạp trong quản lý nó cũng tăng lên. Một trong những thách thức lớn mà thị trường carbon phải đối mặt là sự tồn (...) tại của nhiều tiêu chuẩn đa dạng và đôi khi xung đột với nhau. Mặc dù các tiêu chuẩn này được phát triển để phục vụ các bên liên quan cho mục tiêu khác nhau, nhưng chúng cũng tạo ra sự hỗn loạn, làm giảm hiệu suất và gây ra các vấn đề tiềm ẩn. Bài viết này sẽ xem xét các vấn đề xung quanh sự tồn tại quá nhiều tiêu chuẩn trên thị trường carbon và thảo luận về sự cần thiết của việc hài hòa hóa chúng một cách hợp lý hơn. (shrink)

Nowadays a lot of new financial instruments for SMEs innovation projects are getting more popular in the business environment. A great number of them are traditional like credit loans at the same time we can observe the appearance of innovative ones. Variable set of financial instruments generalized on fig.1. This classification is giving by Organiztion of Economic Cooperation and Development ( OECD). As we can see from the fig.1 the classification is based on risk approach. For further research it is (...) needed to сlarify these definitions. Firstly, asset based finance is the method of assigning structured turnaround capital and term loans, disbursement of debit portfolio, stocks, machines, funds, and / or real estate. This type of finding is suitable for SMEs beginners, refinancing existing loans, growth financing, mergers and acquisitions. (shrink)

This paper is aimed at analyzing the effects of banking relationship on performance of Vietnamese firms in Food and Beverage (F&B), one of the highest potential sectors. Panel data of 170 observations covers 34 F&B firms listed in the Vietnam stock exchanges in the period 2014-2018. The fixed effect model (FEM) is applied. The key findings are: First, short-term loan financing, leverage, and fixed asset ratios all negatively impacted on F&B firm performance, while firm size and net profit margin (...) had positive impacts. These findings were consistent with previous studies. Second, the opposite results with previous studies were: (i) negative corelation of ROE and number of banks firms working with, as F&B firms were inefficient in selecting bank partners; (ii) positive relation of short-term liabilities ratio and ROA/ROE, as F&B firms utilize other non-bank liabilities shortly; (iii) foreign ownership had negative relationship with ROA& ROE. Foreign investors did not have significant roles in most F&B firms. Third, long-term borrowing from banks, state ownership and ages all insignificantly correlated with firm performance. Recommendations to F&B firms include: (1) Reduce the short- term loans and fixed assets investment, while increase the cheap equity funding sources via shareholders (2) Be selective in working with banks to have better fees and interest saved with banks. (3) Utilize other short-term liabilities, including payables and advances – the low-cost funding sources. F&B firms have good bargaining powers in requesting advances from their clients. (4) Have smart buy-in strategies on foreign ownership. (shrink)

This thesis contains three studies which provide theoretical analysis and empirical evidence on the decision-making of farm households under shocks and imperfect markets in Vietnam. The first study attempts to investigate the effects of the 2007-08 global food crisis on the investment, saving and consumption decisions of household producers by using the panel data of the Vietnam Household Living Standard Survey (VHLSS), covering 2006 and 2008. The results show that the high food prices had a positive effect on only fixed (...) asset investments in the period of the crisis. When the price shocks are incorporated in the financial conditions, the findings reveal that the effects of household incomes, loans obtained and land sizes matter. The second study uses the Vietnam Access to Resources Household Survey (VARHS) of 2010 to assess the determinants of chemical fertiliser adoption for rice cultivation, and effects on productivity and household welfare. The analysis implements both nonparametric (propensity score matching) and parametric (instrumental variables) approaches. The findings show determinants affecting decision of adoption differ from those affecting decision of adoption intensity. The results show unsurprisingly positive impact on outcomes, but focus on advantage of using parametric approach to estimate these impacts. The third study employs a sub-sample from the 2008 VHLSS that is restricted to rural areas and to children from 10 to 14 years old to explore the relationship between farmland and the employment of children on their family’s farm. The hypothesis is tested in three models (the Tobit, Heckit and double-hurdle models), in which the dependent variables are examined for two stages of decision-making, including the probability of participation and the extent of participation. Empirical evidence supports the hypothesis that child labour increases in land-rich households and decreases in land-poor households. (shrink)

This collection consolidates these scattered works of Proudhon to provide researchers with citation sources in a paper format. The editing of this collection is a non-profit project. The articles and letters in this collection include: 1837 Application for the Suard Pension 1839 The Celebration of Sunday 1840 Letter to the Members of the Academy of Besançon 1842 Explanations Presented to the Public Minister on the Right of Property Letter to Bergmann 1845 My Testament: or, Society of Avengers 1846 Proudhon To (...) Marx 1847 On the Jews 1848 Letter to Jeanne Deroin The Malthusians, the Representatives of the People Toast to the Revolution 1849 God is Evil, Man is Free In Connection with Louis Blanc: The Present Use and Future Possibility of the State Interest and Principal: A Loan is a Service Interest and Principal: Arguments Drawn from the Operations of the Bank of France Interest and Principal: The Origin of Ground Rent Interest and Principle: The Circulation of Capital, Not Capital Itself, Gives Birth to Progress Letter to Pierre Leroux Parliamentary Isolation The Coming Era of Mutualism The Nature and Destination of Government The State: Its Nature, Object, and Destiny What is Government? What is God? 1850 Dilemma: Red or White 1851 Letter to A. M. Boutteville Letter to Langlois 1852 The Extremes The Social Revolution Demonstrated by the Coup d'Etat of December 2, 1851 Unanimity: Universal Consent 1855 New Propositions Demonstrated in the Practice of Revolutions Propositions: To Leave Behind Abstractions, Utopias, Systems, Doctrines, Theories and Empiricisms of the Parties Schools and Sects 1857 Letter to Villiaumé 1861 Relation of the State and Liberty, According to Modern Right The Theory of Taxation 1864 Letter to Several Workers in Paris and Rouen. (shrink)

Predictive algorithms are playing an increasingly prominent role in society, being used to predict recidivism, loan repayment, job performance, and so on. With this increasing influence has come an increasing concern with the ways in which they might be unfair or biased against individuals in virtue of their race, gender, or, more generally, their group membership. Many purported criteria of algorithmic fairness concern statistical relationships between the algorithm’s predictions and the actual outcomes, for instance requiring that the rate of (...) false positives be equal across the relevant groups. We might seek to ensure that algorithms satisfy all of these purported fairness criteria. But a series of impossibility results shows that this is impossible, unless base rates are equal across the relevant groups. What are we to make of these pessimistic results? I argue that none of the purported criteria, except for a calibration criterion, are necessary conditions for fairness, on the grounds that they can all be simultaneously violated by a manifestly fair and uniquely optimal predictive algorithm, even when base rates are equal. I conclude with some general reflections on algorithmic fairness. (shrink)

(Conference proceedings 2014) This presentation (International Development Ethics Association, July 2014) considers economic vulnerability, exploring the risk of deprivation of necessary resources due to a complex and rarely discussed vulnerability that arises from hope. Pierre Bourdieu’s sociological account of French petit-bourgeois aspiration in The Social Structures of the Economy has recently inspired Wendy Olsen to introduce the term “aspiration paradox” to characterize cases wherein “a borrower's status aspirations may contribute to a situation in which their borrowings exceed their capacity to (...) repay,” leaving the individual much the worse, due to an aspiration to betterment. If such financial opportunities were not made available to these people – if some were denied loans due to a careful assessment of their vulnerability – would they be better off? We should seriously consider that they might be. I will hazard the straightforwardly paternalistic suggestion that limiting access to lending to those who are vulnerable to their aspirations can be a just policy. Because aspiration paradox is a cross-cultural phenomenon, and because lending frequently involves asymmetries in mathematical education between borrowers and lenders, I hope to elude at least some of the charges of colonialism that have gained a stronger purchase on adaptive preference arguments. (shrink)

A classic debate concerns whether reasonableness should be understood statistically (e.g., reasonableness is what is common) or prescriptively (e.g., reasonableness is what is good). This Article elaborates and defends a third possibility. Reasonableness is a partly statistical and partly prescriptive “hybrid,” reflecting both statistical and prescriptive considerations. Experiments reveal that people apply reasonableness as a hybrid concept, and the Article argues that a hybrid account offers the best general theory of reasonableness. -/- First, the Article investigates how ordinary people judge (...) what is reasonable. Reasonableness sits at the core of countless legal standards, yet little work has investigated how ordinary people (i.e., potential jurors) actually make reasonableness judgments. Experiments reveal that judgments of reasonableness are systematically intermediate between judgments of the relevant average and ideal across numerous legal domains. For example, participants’ mean judgment of the legally reasonable number of weeks’ delay before a criminal trial (ten weeks) falls between the judged average (seventeen weeks) and ideal (seven weeks). So too for the reasonable num- ber of days to accept a contract offer, the reasonable rate of attorneys’ fees, the reasonable loan interest rate, and the reasonable annual number of loud events on a football field in a residential neighborhood. Judgment of reasonableness is better predicted by both statistical and prescriptive factors than by either factor alone. -/- This Article uses this experimental discovery to develop a normative view of reasonableness. It elaborates an account of reasonableness as a hybrid standard, arguing that this view offers the best general theory of reasonableness, one that applies correctly across multiple legal domains. Moreover, this hybrid feature is the historical essence of legal reasonableness: the original use of the “reasonable person” and the “man on the Clapham omnibus” aimed to reflect both statistical and prescriptive considerations. Empirically, reasonableness is a hybrid judgment. And normatively, reasonableness should be applied as a hybrid standard. (shrink)

What level of government subsidy of higher education is justified, in what form, and for what reasons? We answer these questions by applying the hypothetical insurance approach, originally developed by Ronald Dworkin in his work on distributive justice. On this approach, when asking how to fund and deliver public services in a particular domain, we should seek to model what would be the outcome of a hypothetical insurance market: we stipulate that participants lack knowledge about their specific resources and risks, (...) and ask what insurance contracts they would take out to secure different types of benefit and protection in the domain in question. The great benefit of the hypothetical insurance approach is that it allows us to take apparently intractable questions about interpersonal distribution and transform them into questions about intrapersonal distributions: that is, questions about how an individual would choose to distribute risks and resources across the various lives that they might end up living, in light of their individual ambitions and preferences. Applying this approach to higher education, we argue that the UK model of higher education funding in which the costs of an individual's higher education are shared between general taxation and the individual herself, with the latter element to be paid retrospectively through an income-contingent state-backed loan, is vindicated as just. In particular, we argue that it is more just than alternatives such as a graduate tax, full funding through general taxation, and full privatisation. (shrink)

According to the Ought-Implies-Can principle (OIC), an agent ought to perform a certain action only if the agent can perform that action. Proponents of OIC interpret this supposed implication in several ways. Some argue that the implication in question is a logical one, namely, entailment. Some think that the relation between ‘ought’ and ‘can’ is a relation of presupposition. Still others argue that ‘ought’ conversationally implicates ‘can’. Opponents of OIC offer a variety of counterexamples in an attempt to show that (...) there are cases in which an agent ought to perform a certain action even though she cannot perform that action. Such counterexamples often involve either culpable or nonculpable inability. In cases of culpable inability, the agent renders herself unable to fulfill an obligation. For example, a student is unable to submit a paper on the due date because she procrastinated until it became too late to write a paper by the assigned deadline. In cases of non-culpable inability, the agent somehow becomes unable to fulfill an obligation, through no fault of her own. For example, an agent becomes unable to pay back a loan to a bank because she was robbed on her way to the bank. This paper attempts to offer counterexamples to OIC of a sort different from the one discussed by opponents of OIC so far. If these counterexamples are correct, then they seem to suggest that there are cases in which an agent has an obligation to perform an action even though she may not be able to perform that action, and thus OIC is false. In other words, ‘ought’ does not imply ‘can’. (shrink)

John Schlitpacher (†1482), who was prior of Melk in the 15th century, encouraged both the circulation of manuscripts at his Abbey and their transcription, even in abbreviated form to the benefit of the Abbey School students. This article looks at the sources and diffusion of texts to and from Melk Abbey in that period, examining the case of a codex purchased by Nicholas of Cusa, registered in his Library as no. 58, and subsequently loaned to the monks in Melk to (...) be copied. It contained the Scala Paradisi by John Climacus and the De spiritualibus deliciis by John of Dambach. In the article, I underline that both of these works, copied in codex 58, were in accordance with John Gerson’s theological approach, which was prevalent in Melk at that time. Moreover, I confirm that there are doctrinal similarities between the two works mentioned above and two, hitherto, unedited writings by Schlitpacher from the same period – the treatise De ascensionibus cordis, which is a summary of the De spiritualibus ascensionibus by Gerard Zerbolt of Zutphen, and another entitled De felicitate beatorum (or De gaudiis electorum). (shrink)

Entrepreneurship plays an indispensable role in the economic development and poverty reduction of emerging economies like Vietnam. The rapid development of technologies during the Fourth Industrial Revolution (Industry 4.0) has a significant impact on business in every field, especially in the innovation-focused area of entrepreneurship. However, the topic of entrepreneurial activities with technology applications in Vietnam is under-researched. In addition, the body of literature regarding entrepreneurial finance tends to focus on advanced economies, while mostly neglecting the contextual differences in developing (...) nations. Therefore, this research contributes to these topics by investigating the main characteristics of a high potential market for entrepreneurs in Vietnam, which is the English language training market (ELTM). It also aims at indicating the impacts of technology on the entrepreneurial firms within this market, with an emphasis on financing sources. To answer the research questions, this study employs a qualitative analysis and conducts 12 in-depth, semi-structured interviews with entrepreneurs and researchers in the field. The key findings in our study highlight the main contributing factors to the growth of the market, both universally and context-specific for a developing nation like Vietnam. It also lists the leaders in each market segment and the industry’s potential profit margin. The results also show that most entrepreneurs in the ELTM utilized private sources of finance rather than external ones, such as bank loans. It again confirms the idea from previous works that even with the rapid development of the economic and technological landscape, entrepreneurial activities in general barely benefit from additional sources of funding. However, it also points out the distinct characteristics of the ELTM that may influence these financing issues; for example, English training services usually collect revenues from customers before delivering their classes. This is of advantage for entrepreneurs in this area and helps significantly reduce the financial barriers. These findings, which are among the first attempts to contribute to a better understanding of entrepreneurial opportunities in the Industry 4.0 in Vietnam, provide valuable insights for policymakers and entrepreneurs, as well as investors. (shrink)

The access-to-justice movement broadly concerns the extent to which people have the ability to resolve legally actionable problems. To the extent that individuals seek resolution through civil litigation, they can be disadvantaged by their unmet need for legal services, particularly in high-stakes cases and complicated areas of law. I propose an innovative legal intervention to this problem called “compensatory preliminary damages,” which builds from the work of Gideon Parchomovsky and Alex Stein. I argue that preliminary damages should function as compensatory (...) awards for harm to a plaintiff’s ability to access justice, rather than a contingency loan that might make indigent plaintiffs worse off than before if they lose. By awarding such damages, courts make plaintiffs whole for harm to their access to justice that is not conditional on a decision after the merits or their final recovery for the injuries alleged. As such, the award would not need to be repaid. -/- . (shrink)

Many of the benefits and burdens we might experience in our lives — from bank loans to bail terms — are increasingly decided by institutions relying on algorithms. In a sense, this is nothing new: algorithms — instructions whose steps can, in principle, be mechanically executed to solve a decision problem — are at least as old as allocative social institutions themselves. Algorithms, after all, help decision-makers to navigate the complexity and variation of whatever domains they are designed for. In (...) another sense, however, this development is startlingly new: not only are algorithms being deployed in ever more social contexts, they are being mechanically executed not merely in principle, but pervasively in practice. Due to recent advances in computing technology, the benefits and burdens we experience in our lives are now increasingly decided by automata, rather than each other. How are we to morally assess these technologies? In this chapter, I propose a preliminary conceptual schema for identifying and locating the various injustices of automated, algorithmic social decision systems, from a broadly liberal perspective. (shrink)

Abstract: Entrepreneurship education is very imperative in Nigeria especially now that unemployment rate has reached an alarming proportion. Entrepreneurship education is not a straight-jacketed process in any nation. It is a function of many factors which include good leadership, creation of business-friendly environment, drawing academic curriculum that will inculcate skill acquisition. This study, against this backdrop, focuses on the enterepreurship education alongside trade subjects. Also, the place of entrepreneurship training, government/institutional support, societal value re-orientation, entrepreneurial career selection were interrogated. The (...) study relied heavily on content analysis technique. The position of the paper is inter alia: provision of financial assistance for self-employment through a properly articulated micro credit scheme that would enable enterprising youths obtain soft loans for the establishment of micro businesses. Beefing up electricity generation. Currently 3,231 MHW generated as against 50,000 MHW calls for serious rethinking by the Federal Government of Nigeria. (shrink)

Why It’s Difficult to Increase Job Creation to Balance Exponential Population Growth -/- One of the biggest challenges in economic development is ensuring that job creation keeps pace with the rapid growth of the population. If a country fails to provide enough employment opportunities, it leads to rising unemployment, poverty, and social instability. The problem is even more complex because economic growth is not always proportional to population growth. Several key factors—such as economic productivity, income inequality, technological advancements, education, and (...) labor migration—must be considered when addressing this issue. To create a sustainable balance, countries must focus on maintaining an ideal standard of living, fair income distribution, and a population growth rate that does not exceed economic expansion. -/- 1. The Importance of GDP per Capita in Job Creation -/- A country’s economic strength is often measured by its Gross Domestic Product (GDP) per capita, which reflects the average income per person. For a nation to provide enough well-paying jobs, it must have a high enough GDP per capita to support businesses, investments, and infrastructure development. Studies suggest that a GDP per capita of at least $15,000 to $25,000 is necessary for a stable middle-income economy where job opportunities are abundant. -/- However, many developing nations struggle to reach this level due to factors such as inefficient economic policies, corruption, or lack of industrial growth. If GDP per capita is too low, businesses may not generate enough revenue to expand, and workers may be forced into low-wage or informal jobs with little security. To ensure sufficient employment opportunities, governments must focus on improving productivity, supporting small and medium enterprises, and investing in industries that create large numbers of jobs. -/- 2. The Impact of Income Inequality on Job Availability -/- Even if a country has a high GDP, the way wealth is distributed among the population significantly affects job creation. A measure called the Gini coefficient helps determine how equally wealth is shared. If income is too concentrated in the hands of a few, economic growth will not translate into widespread job creation. -/- For a healthy economy, income inequality should be kept within a manageable range—typically a Gini coefficient of 0.25 to 0.35. If this number rises above 0.4, it indicates that a small portion of the population holds most of the wealth, while the majority struggle with low wages and unemployment. High inequality leads to reduced consumer spending, which negatively affects businesses and slows down job creation. To fix this, governments must implement policies that promote fair wages, progressive taxation, and better access to education and healthcare. -/- 3. The Balance Between Population Growth and Economic Growth -/- One of the most critical factors in job creation is the relationship between population growth and economic growth. If the population expands too quickly without a corresponding increase in job opportunities, unemployment will rise. A sustainable population growth rate should generally be below 1% per year, while economic growth should ideally be between 3% and 5% per year to generate enough jobs. -/- In many developing countries, high birth rates continue to add millions of people to the workforce every year, but the economy does not grow fast enough to accommodate them. This problem is worsened by factors such as automation, which replaces traditional jobs, and weak labor markets that fail to absorb new workers. To address this issue, governments must implement population policies, invest in education, and ensure that job market demands align with workforce skills. -/- 4. The Role of Labor Migration in Balancing Job Creation and Population Growth -/- One effective way to address job shortages and overpopulation is through labor migration. Many developed countries face declining birth rates and aging populations, which create labor shortages in critical industries such as healthcare, construction, and agriculture. At the same time, overpopulated developing nations struggle with high unemployment. A well-managed labor migration system can help balance both issues by matching surplus labor from developing countries with job shortages in developed economies. -/- How Labor Migration Helps Solve the Imbalance: -/- For overpopulated countries: Migration reduces unemployment, eases pressure on local job markets, and allows workers to send remittances back home, boosting their domestic economy. -/- For labor-shortage countries: Migrant workers fill essential jobs that local populations are unable or unwilling to do, preventing economic stagnation. -/- Challenges in Implementing Labor Migration: -/- Despite its benefits, labor migration is often restricted by strict immigration policies, cultural resistance, and concerns about local job competition. To maximize the benefits of migration, countries should: -/- Create bilateral agreements that ensure fair wages and worker protections. -/- Provide legal pathways for migrant workers to prevent exploitation and illegal migration. -/- Implement integration programs that help migrants contribute positively to their host economies. -/- By effectively managing labor migration, both sending and receiving countries can create a win-win situation that helps balance employment opportunities globally. -/- 5. The Role of Education and Skills Development -/- A well-educated workforce is essential for job creation. Many emerging industries—such as technology, renewable energy, and healthcare—require specialized skills that the general population may not have. Unfortunately, many education systems fail to prepare students for the jobs of the future, resulting in a mismatch between the skills available in the workforce and the jobs that need to be filled. -/- To solve this, countries must focus on improving education and vocational training programs. Investing in science, technology, engineering, and mathematics (STEM) education, as well as technical and trade schools, can help workers adapt to changing job market demands. Additionally, lifelong learning programs should be encouraged to help workers update their skills as industries evolve. -/- 6. How Technology and Globalization Affect Job Creation -/- Advancements in technology and globalization have created both opportunities and challenges for job creation. Automation, artificial intelligence, and robotics have increased productivity but have also eliminated many traditional jobs, particularly in manufacturing and retail. While technology generates new industries, these jobs often require advanced skills, leaving behind workers who are unable to adapt. -/- Similarly, globalization has allowed companies to move jobs to countries with cheaper labor costs, which can reduce employment opportunities in some regions. To counter this, countries must focus on attracting industries that balance automation with human labor, promoting entrepreneurship, and investing in sectors that cannot be easily outsourced, such as local services and infrastructure development. -/- 7. Policy Recommendations for Sustainable Job Creation -/- To ensure that job creation keeps up with population growth, governments and businesses must work together to implement sustainable economic policies. Some key recommendations include: -/- Economic Diversification: Countries should invest in multiple industries, including technology, agriculture, healthcare, and renewable energy, to create a variety of job opportunities. -/- Fair Income Distribution: Policies should be designed to reduce income inequality through progressive taxation, minimum wage laws, and social welfare programs. -/- Education and Workforce Training: Schools and universities should align their curricula with the needs of the job market, and vocational training should be expanded. -/- Population Management: Governments should promote responsible family planning and ensure that population growth does not outpace economic development. -/- Support for Small Businesses: Small and medium enterprises (SMEs) are a major source of employment and should receive incentives such as low-interest loans, tax breaks, and reduced bureaucratic barriers. -/- Managed Labor Migration: Countries should develop legal migration pathways that match labor demand and supply globally. -/- Conclusion -/- Balancing job creation with population growth is a complex challenge that requires a comprehensive and sustainable approach. Countries must ensure that GDP per capita remains high, income is distributed fairly, and population growth stays within manageable limits. By investing in education, economic diversification, labor migration, and social policies, governments can create a stable and prosperous society where job opportunities are available for all. If these factors are not properly managed, the gap between population growth and job availability will continue to widen, leading to economic and social instability. -/- . (shrink)

The article investigates the main characteristics of the financial stability of Ukrainian banks, their risk profile, structure of assets, liabilities, income, expenses based on the monthly reporting data for 2004-2020 (number of observations – 3 813). The Kohonen self-organizing map (SOM) toolkit is used to form homogeneous groups of banks based on a large number of financial indicators. The selected toolkit provides a convenient visualization of the results. Each bank occupies a specific place on the SOM. The close location of (...) banks on the map indicates that these banks have many common characteristics. This study is called the method of structural and functional groups of banks. The study formed stable groups of banks with the same characteristics of business models and risk profile. The formation of consecutive maps for each reporting period allows to obtain the characteristics of each bank separately and the banking system as a whole. The trajectory of an individual bank’s activity during the observation period characterizes the development of its business strategy. The migration of a large number of banks between groups reflects the objective changes in the conditions of banking. Increasing groups of high-risk banks indicate systemic problems. The results show that after a significant reduction in the banking system of Ukraine in 2014-2016, the business models of banks have changed significantly. The resource base relies on unstable sources of current funds with no set term of use. In the assets of banks, a significant portion is invested in government securities – government bonds. Bank loan portfolios have declined and have a higher proportion of non-performing assets (NPL). Many banks have increased currency risk. Concerns are raised about the state of large state-owned banks that hold a separate high-risk group. Thus, the conducted research allows to distinguish groups of banks with specific characteristics of business models and to observe changes of risk profile inherent to these groups. For each structural-functional group, changes in the values of financial indicators are investigated and migration between groups is studied. The proposed methodology is useful for studying both macro and macro levels. (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)

The Flow of Money in the Economy: Conversion into Assets and Changing Velocity -/- Money is the lifeblood of an economy, continuously circulating and changing hands in various forms. At its core, all cash flows through the economy by being converted into assets with monetary value. The amount of money in circulation and its velocity—how quickly it moves from one transaction to another—fluctuate over time, shaping economic activity and stability. This essay explores the mechanisms through which money flows, how it (...) is converted into assets, and the dynamic changes in its volume and velocity. -/- The Conversion of Money into Assets -/- Every monetary transaction ultimately results in the conversion of cash into assets, whether tangible or intangible. This transformation occurs through various channels: -/- 1. Consumption and Investment -/- Money is frequently exchanged for goods and services that hold economic value, such as food, housing, and technology. These purchases represent an immediate transformation of cash into assets that provide utility to individuals and businesses. -/- Investments, including stocks, bonds, and real estate, convert money into financial assets that can appreciate in value or generate returns over time. -/- From low-income individuals to billionaires, all spending and investments are ultimately converted into assets with monetary value. These may include consumer goods, luxury items, corporate investments, or large-scale financial portfolios. -/- 2. Banking and Credit Creation -/- Money deposited in banks does not remain idle. Through fractional reserve banking, financial institutions lend out a portion of these deposits, effectively converting cash into new financial assets in the form of loans and credit. -/- This process expands the money supply by creating credit-based assets while maintaining a continuous flow of money within the economy. -/- 3. Government Spending and Taxation -/- Governments collect money through taxes and redistribute it via public expenditures, such as infrastructure projects, social services, and defense. -/- Public spending leads to the creation of physical and human capital assets, contributing to economic growth and societal development. -/- 4. Foreign Trade and Exchange Markets -/- Money flows between economies through imports and exports, converting into international assets. -/- Foreign direct investments (FDI) and currency exchanges further influence the global movement of money, shaping its conversion into diverse forms of assets. -/- The Changing Amount and Velocity of Money -/- While money is always in circulation, its flow rate and volume fluctuate due to several factors: -/- 1. Economic Cycles -/- During economic booms, money moves rapidly as businesses expand, consumers spend more, and investment activity increases. -/- In contrast, recessions slow down the velocity of money as people and businesses hold onto cash, reducing overall economic activity. -/- 2. Inflation and Deflation -/- Inflation decreases the purchasing power of money, leading individuals and companies to spend more quickly before prices rise further, increasing velocity. -/- Deflation has the opposite effect, causing people to hoard money in anticipation of lower prices, thereby slowing economic activity. -/- 3. Monetary Policy and Interest Rates -/- Central banks influence money flow by adjusting interest rates and implementing monetary policies that control liquidity. -/- Lower interest rates encourage borrowing and spending, accelerating money circulation, while higher rates reduce it. -/- 4. Technological Advances and Digital Payments -/- The rise of digital transactions, mobile banking, and cryptocurrencies has increased the speed of money flow. -/- Faster transaction processing reduces the time money remains idle, enhancing its velocity within the economy. -/- Conclusion -/- The flow of money within an economy is a dynamic process, continuously converting cash into assets while fluctuating in volume and velocity. Every transaction contributes to this transformation, whether through consumption, investment, banking, government activity, or international trade. From everyday consumers to billionaires, all spending and investments ultimately convert into assets with monetary value, reinforcing economic activity at all levels. Understanding these mechanisms is crucial for policymakers, businesses, and individuals alike, as managing money supply and velocity effectively determines economic stability and growth. In an era of digital finance and globalized markets, the ability to track and regulate these flows remains both a key challenge and an opportunity for sustaining economic prosperity. -/- . (shrink)

Abstract: Microfinance Institutions (MFIs) are the financial services established for the specific target to enabling community, particularly poor people to access loans having lack of access to conventional banking and related services. Worldwide the sector started since 1770’s. In Tanzania, it kicked off in 1991 after the enactment of BFIA and SACCOS Act in 1991. This research was conducted in Singida District in 2018 comprising a sample size of 88 respondents from ten SACCOS. Both qualitative and quantitative data were collected. (...) The study employed case study method intended to assess the factors that affect the growth of Micro-finance Institutions in Tanzania. The study found that the growth of MFIs is affected by the following factors; Capacity in managing finances and loans and adhering to financial policies and guidelines. Others include competent personnel, appropriate training to key staff, loan follow up, corruption, and access of members to business training. Similarly, the availability of Technical support to SACCOS, Availability of sources of Business Capital, Level of knowledge on sustainability, Risk management, Training related to the members, challenges of business competition, Macroeconomic factors including inflation, Financial Sector Reforms and Development of Microfinance Policy, affect MFIs. Further the study found that the challenges affecting the performance of the growth of MFIs are within the capacity of the MFIs stakeholders. Henceforth, the study urges all stakeholders to play a pertinent role to enhance effective performance of MFIs. (shrink)

The Limits of Capitalism in Job Creation Amidst Market Saturation -/- Introduction -/- Capitalism has long been regarded as the dominant economic system for driving innovation, production, and job creation. Its foundation lies in free markets, competition, and the continuous cycle of supply and demand. However, as markets become saturated with products—many of which provide little real value—the system begins to show its limitations. While capitalism has mechanisms to sustain job creation, these are often based on artificial demand, wasteful production, (...) and unsustainable consumption patterns. This essay explores whether capitalism can continue to generate jobs in an economy filled with unnecessary goods and whether a shift toward a more balanced economic model could provide a long-term solution. -/- The Limits of Job Creation in a Saturated Market -/- In a healthy economy, demand for goods and services drives production, which in turn creates employment opportunities. However, when markets become oversaturated, the natural cycle of capitalism is disrupted. -/- Diminishing Demand: Once consumers already own most of what they need, and new products offer little additional value, demand slows. This stagnation can lead to reduced production, layoffs, and even business closures. -/- Overproduction and Waste: Many companies continue to produce goods regardless of actual demand, leading to excess inventory, wasted resources, and environmental harm. For example, the fashion industry is notorious for overproducing clothing, much of which ends up in landfills. -/- Short-Term vs. Long-Term Employment: Capitalism can create jobs temporarily by constantly introducing new products. However, if those products are low-quality or unnecessary, workers face instability when companies shut down due to lack of sustainable demand. -/- The Role of Artificial Demand in Sustaining Capitalism -/- To counteract market saturation, capitalism relies on mechanisms that create artificial demand: -/- Aggressive Marketing and Consumerism: Companies invest heavily in advertising to convince consumers that they need new products, even when their old ones still function. This leads to excessive consumption driven by psychological rather than practical needs. -/- Planned Obsolescence: Many industries intentionally design products with limited lifespans so that consumers must replace them frequently. Electronics manufacturers, for instance, often create devices that become obsolete within a few years, ensuring continuous sales. -/- Financial Leverage and Debt: Credit cards, loans, and installment plans enable consumers to buy beyond their financial means, artificially inflating demand. However, this reliance on debt can lead to economic instability and financial crises. -/- Can Capitalism Adapt to Meaningful Job Creation? -/- For capitalism to remain viable in the long term, it must transition from a wasteful, profit-driven model to one that prioritizes sustainable and meaningful job creation. Some possible solutions include: -/- Shifting to a Circular Economy: Encouraging businesses to produce durable, repairable, and recyclable goods can reduce waste while still supporting employment. Industries like renewable energy and sustainable agriculture offer opportunities for job growth without environmental harm. -/- Investing in Essential Industries: Healthcare, education, infrastructure, and technology sectors provide long-term value to society. Redirecting economic focus toward these areas can create stable employment and improve overall quality of life. -/- Basic Income and Job Redistribution: As automation and market saturation reduce labor demand, alternative models like Universal Basic Income (UBI) and job-sharing programs could ensure financial stability while reducing unnecessary work. -/- The Universal Law of Balance in Economic Systems -/- A crucial consideration is whether capitalism can align with the universal law of balance in nature. The current system prioritizes unchecked economic growth, often at the cost of environmental and societal equilibrium. Implementing a homeostasis-driven economic approach—where production aligns with actual needs rather than artificial demand—could create a more sustainable model for job creation. -/- Conclusion -/- Capitalism, in its traditional form, struggles to create sustainable employment in a world saturated with unnecessary products. While short-term solutions like artificial demand and planned obsolescence temporarily sustain jobs, they ultimately lead to instability and resource depletion. A more balanced economic approach—rooted in sustainability, meaningful industries, and the universal law of balance—could provide a long-term solution. If capitalism is to survive and evolve, it must move beyond the endless cycle of consumption and embrace a model that prioritizes genuine human and environmental well-being. -/- . (shrink)

Drawing a sample of 135 successful African immigrant-owned businesses, this paper sets out to investigate how their owners acquired the necessary capital for start-up and growth thereafter. The paper was designed within the quantitative and qualitative research paradigms, in which a triangulation of three methods was utilised to collect and analyze the data. The paper revealed that although African immigrants are characteristically at a disadvantage when it comes to accessing capital from formal financial institutions, this does not stop them from (...) pursuing entrepreneurial activities. At the start-up stage, they typically resort to personal savings, business credit, family credit, and loans from informal financial institutions. According to the ability to raise capital, we found that a varying range of start-up capital was utilised, which tended to vary across the different ethnic groups studied. Once started, we found that the sources of additional finance available to these immigrants did not change significantly. They conventionally turned to friends, co-ethnics and self-help financial associations to ‘feed’ their need for further funding. (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)

Abstract: In 16 years of Vietnam Bank for Social Policies (VBSP) operation, although mobilized capital has basically met the demand for loans of poor households and other policy beneficiaries, there are still certain limitations. This study is aimed to assess the remaining difficulties in raising capital in VBSP. Research results are surveys of capital mobilization at 8 VBSP’s provinical branches and questionnaire to customers, staff at branches of VBSP across Vietnam. The key problem is mechanism of creating capital source, which (...) has not yet reached stability and long-term; unreasonable capital structure; the gap between capital demand of social security programs assigned by the State to VBSP and actual capital arranged in the annual plan in allocation of capital for socio-economic development plans and state budget estimates. (shrink)

Gold and Its Role in War, Economy, and the Shift to Fiat Currency -/- Gold has long been a symbol of wealth, power, and economic stability. Historically, it was used as money, backing national currencies and serving as a reserve asset. However, its limitations led to the shift toward fiat currency, which provides greater flexibility in managing modern economies. Gold has also played a crucial role in global conflicts, particularly World War II, where nations hoarded, looted, and traded gold to (...) finance their war efforts. Understanding the relationship between gold, war, and economic stability explains why the world moved away from the gold standard and adopted fiat money. -/- The Limitations of Gold as Money -/- While gold has been used as currency for centuries, it has several drawbacks that make it unsuitable for modern economies. First, gold is not easily divisible or portable, making everyday transactions impractical. Carrying and transferring large amounts of gold requires security and infrastructure, increasing costs. Additionally, gold supply is limited, meaning that as economies grow, the money supply cannot expand accordingly, leading to deflation and economic stagnation. -/- Gold’s price volatility also makes it a poor monetary standard. Unlike fiat money, which governments can regulate, gold’s value fluctuates based on mining output, global demand, and geopolitical events. This instability can create uncertainty in financial markets. Moreover, in today’s digital economy, gold cannot facilitate rapid, electronic transactions, making it inefficient for global trade. -/- Perhaps the most significant limitation is that a gold-based system restricts monetary policy. Governments and central banks use interest rates and money supply adjustments to manage inflation, unemployment, and economic growth. A gold standard would prevent these interventions, making financial crises harder to control. -/- Gold and Economic Conflicts -/- If gold were still the primary form of money, it could lead to major economic and geopolitical conflicts. Gold is not evenly distributed worldwide, meaning nations with larger reserves would have disproportionate financial power, potentially leading to tensions and wars over resources. -/- A gold-based economy would also increase economic instability. Countries would hoard gold during crises, reducing money circulation and triggering deflation, unemployment, and recessions. Additionally, a reliance on gold would encourage illegal mining, black markets, and corruption, further destabilizing global economies. -/- Gold’s Role in World War II -/- Gold played a crucial role in World War II, financing both the Axis and Allied powers. Nations used gold to purchase war materials, pay for military expenses, and maintain economic stability during the conflict. -/- Nazi Germany’s Gold Hoarding and Economic Warfare -/- The Third Reich relied heavily on stolen gold to finance its war machine. The Nazis: -/- Looted central bank reserves from occupied countries such as Austria, Czechoslovakia, Poland, Belgium, and France. -/- Stole gold from individuals, especially Jewish victims of the Holocaust, by confiscating jewelry, coins, and even extracting gold from dental fillings. -/- Traded stolen gold with neutral countries, such as Switzerland, Spain, and Portugal, in exchange for vital war materials like oil, tungsten, and industrial equipment. -/- Deposited gold in Swiss banks, where it was laundered and converted into usable currency, allowing the Nazis to bypass economic sanctions. -/- Japan’s Gold Operations in Asia -/- Japan also plundered gold and resources from occupied territories in China, the Philippines, Malaya, and Indonesia. Some theories suggest Japan hid large amounts of looted gold, known as “Yamashita’s Gold”, in underground vaults in the Philippines. Like Germany, Japan used stolen gold to trade for fuel, weapons, and technology. -/- Allied Powers and Gold Reserves -/- While the Axis relied on looted gold, the Allied powers used their national gold reserves to finance their war efforts: -/- The United States and Britain backed war loans and military production with gold reserves. The U.S. used its gold stockpile to fund the Lend-Lease Program, which provided military aid to allies such as Britain, the Soviet Union, and China. -/- Britain moved its gold reserves to Canada for safekeeping, fearing a German invasion. -/- The Soviet Union used gold to purchase war materials from neutral nations, ensuring its war effort remained well-supplied. -/- Neutral countries like Switzerland, Spain, and Portugal facilitated war financing by exchanging gold for goods, often ignoring its origins. Swiss banks in particular played a key role in laundering Nazi gold, enabling Germany to continue funding its military. -/- The Shift to Fiat Currency -/- World War II demonstrated the financial instability of relying on gold, leading to major economic reforms. In 1944, the Bretton Woods Agreement established a new financial system, where the U.S. dollar was linked to gold, and other currencies were pegged to the dollar. This created stability in global finance. However, as economies grew, the limitations of gold-backed currency became clear. In 1971, the U.S. abandoned the gold standard, transitioning to a fully fiat currency system. -/- Fiat money allows governments to: -/- Expand the money supply to support economic growth. -/- Adjust interest rates and inflation to stabilize economies. -/- Avoid deflation and liquidity crises that plagued the gold standard. -/- Fiat currency also eliminates gold-related conflicts and reduces dependence on resource-intensive mining, benefiting both economies and the environment. -/- Conclusion -/- Gold has played a central role in economic history, from its use as money to its impact on global conflicts. While valuable, gold is impractical as modern money due to its physical limitations, deflationary risks, and geopolitical consequences. World War II showcased the dangers of gold hoarding and economic warfare, leading to the adoption of fiat currency. The transition to fiat money has enabled greater economic stability, flexibility, and global trade, making it the foundation of the modern financial system. -/- . (shrink)

Gold and Its Role in War, Economy, and the Shift to Fiat Currency -/- Gold has long been a symbol of wealth, power, and economic stability. Historically, it was used as money, backing national currencies and serving as a reserve asset. However, its limitations led to the shift toward fiat currency, which provides greater flexibility in managing modern economies. Gold has also played a crucial role in global conflicts, particularly World War II, where nations hoarded, looted, and traded gold to (...) finance their war efforts. Understanding the relationship between gold, war, and economic stability explains why the world moved away from the gold standard and adopted fiat money. -/- The Limitations of Gold as Money -/- While gold has been used as currency for centuries, it has several drawbacks that make it unsuitable for modern economies. First, gold is not easily divisible or portable, making everyday transactions impractical. Carrying and transferring large amounts of gold requires security and infrastructure, increasing costs. Additionally, gold supply is limited, meaning that as economies grow, the money supply cannot expand accordingly, leading to deflation and economic stagnation. -/- Gold’s price volatility also makes it a poor monetary standard. Unlike fiat money, which governments can regulate, gold’s value fluctuates based on mining output, global demand, and geopolitical events. This instability can create uncertainty in financial markets. Moreover, in today’s digital economy, gold cannot facilitate rapid, electronic transactions, making it inefficient for global trade. -/- Perhaps the most significant limitation is that a gold-based system restricts monetary policy. Governments and central banks use interest rates and money supply adjustments to manage inflation, unemployment, and economic growth. A gold standard would prevent these interventions, making financial crises harder to control. -/- Gold and Economic Conflicts -/- If gold were still the primary form of money, it could lead to major economic and geopolitical conflicts. Gold is not evenly distributed worldwide, meaning nations with larger reserves would have disproportionate financial power, potentially leading to tensions and wars over resources. -/- A gold-based economy would also increase economic instability. Countries would hoard gold during crises, reducing money circulation and triggering deflation, unemployment, and recessions. Additionally, a reliance on gold would encourage illegal mining, black markets, and corruption, further destabilizing global economies. -/- Gold’s Role in World War II -/- Gold played a crucial role in World War II, financing both the Axis and Allied powers. Nations used gold to purchase war materials, pay for military expenses, and maintain economic stability during the conflict. -/- Nazi Germany’s Gold Hoarding and Economic Warfare -/- The Third Reich relied heavily on stolen gold to finance its war machine. The Nazis: -/- Looted central bank reserves from occupied countries such as Austria, Czechoslovakia, Poland, Belgium, and France. -/- Stole gold from individuals, especially Jewish victims of the Holocaust, by confiscating jewelry, coins, and even extracting gold from dental fillings. -/- Traded stolen gold with neutral countries, such as Switzerland, Spain, and Portugal, in exchange for vital war materials like oil, tungsten, and industrial equipment. -/- Deposited gold in Swiss banks, where it was laundered and converted into usable currency, allowing the Nazis to bypass economic sanctions. -/- Japan’s Gold Operations in Asia -/- Japan also plundered gold and resources from occupied territories in China, the Philippines, Malaya, and Indonesia. Some theories suggest Japan hid large amounts of looted gold, known as “Yamashita’s Gold”, in underground vaults in the Philippines. Like Germany, Japan used stolen gold to trade for fuel, weapons, and technology. -/- Allied Powers and Gold Reserves -/- While the Axis relied on looted gold, the Allied powers used their national gold reserves to finance their war efforts: -/- The United States and Britain backed war loans and military production with gold reserves. The U.S. used its gold stockpile to fund the Lend-Lease Program, which provided military aid to allies such as Britain, the Soviet Union, and China. -/- Britain moved its gold reserves to Canada for safekeeping, fearing a German invasion. -/- The Soviet Union used gold to purchase war materials from neutral nations, ensuring its war effort remained well-supplied. -/- Neutral countries like Switzerland, Spain, and Portugal facilitated war financing by exchanging gold for goods, often ignoring its origins. Swiss banks in particular played a key role in laundering Nazi gold, enabling Germany to continue funding its military. -/- The Shift to Fiat Currency -/- World War II demonstrated the financial instability of relying on gold, leading to major economic reforms. In 1944, the Bretton Woods Agreement established a new financial system, where the U.S. dollar was linked to gold, and other currencies were pegged to the dollar. This created stability in global finance. However, as economies grew, the limitations of gold-backed currency became clear. In 1971, the U.S. abandoned the gold standard, transitioning to a fully fiat currency system. -/- Fiat money allows governments to: -/- Expand the money supply to support economic growth. -/- Adjust interest rates and inflation to stabilize economies. -/- Avoid deflation and liquidity crises that plagued the gold standard. -/- Fiat currency also eliminates gold-related conflicts and reduces dependence on resource-intensive mining, benefiting both economies and the environment. -/- Conclusion -/- Gold has played a central role in economic history, from its use as money to its impact on global conflicts. While valuable, gold is impractical as modern money due to its physical limitations, deflationary risks, and geopolitical consequences. World War II showcased the dangers of gold hoarding and economic warfare, leading to the adoption of fiat currency. The transition to fiat money has enabled greater economic stability, flexibility, and global trade, making it the foundation of the modern financial system. -/- . (shrink)

Variations in people’s perceptions of investment risk and financial literacy have been linked in studies. More specifically, Diacon (2016) discovered significant differences between less financially savvy non-experts and financial professionals. Lay people therefore have a larger propensity for association bias (i.e., they give suppliers and salesmen a higher level of credibility than laypeople) and are often less risk-tolerant than financial professionals. The method of sampling that the researcher chose is known as purposeful sampling. According to Easton & McColl, it is (...) a fundamental sampling strategy where the researcher chooses a smaller group of people (a sample) from a larger group (a population) to study. The responders of the survey included both commissioned and non-commissioned PNP members. There were 67 non-commissioned individuals and 33 commissioned personnel. These individuals are at work while this study is being done. Because they think mutual funds can invest in a variety of assets in the future, think savings account interest is higher than that on fixed deposit accounts, and even budget their monthly income for expenses, savings, and investments, survey participants can be inferred to rate their level of financial knowledge as extremely high. Additionally, people learn about investments from their peers and think that growing costs will limit purchasing power. They also get banking advice from dependable friends. Because they want to make sure that they are not concerned about loans as long as their savings are protected and they refrain from purchasing non-essentials, police responders are persuaded that they have a very high attitude toward their finances. They also believe that investing in a business is a better use of their money than spending it now, that saving money over time is more satisfying than spending it now, and that their financial status is a big problem or a source of stress. The poll participants believe that their level of financial conduct is pretty high since the separate their needs and wants, have begun saving for their retirement, and consistently save money each pay period. They also budget their money, regulate their spending, and always pay their bills on time. (shrink)

The aim of the 17 original papers here is to summarize and analyze Wittgenstein's thought. At the time these were being written, the Oxford/Intelex CDROM ($2040 on Amazon but available thru interlibrary loan and steeply discounted on the net) with 20,000 some pages of W's nachlass was not yet available, and only those fluent in German and willing to find and slog thru the incomplete Cornell microfilm were able to examine it. To this day it much of it remains (...) untranslated from the German typescripts and handwritten manuscripts. I note this at the outset as W's untranslated or unpublished writings often shed crucial light on his thought and few to this day have made substantial use of them. In addition there are huge problems with translation of his early 20 th century Viennese German into modern English. One must be a master of English, German, and Wittgenstein in order to do this and very few are up to it. Several of the current authors note unfortunate translation errors in the only available English editions and I have seen similar comments countless times. As is well known, W's thought changed dramatically between the publication of the Tractatus (TLP) in 1922 and the Philosophical Investigations(1953). The continuity or lack thereof between his early and late work is the subject of a vast literature and is taken up here by several authors. Ishiguro on the picture theory and Mounce on the logical system in TLP are good, but for me the endless discussions of exactly how he was mistaken in his early work is of as little interest as the mistakes in most previous philosophy. Ammereller on Intentionality is a good, if prosaic, summary of (mostly) the early and middle W on belief and interpretation which, like virtually everyone, totally fails to give an adequate overview of W's pioneering work. In giving the general outline of our innate evolutionary psychology (ie, roughly our personality) and showing how this describes behavior, W represents a major milestone in human thought. There are unmistakeable indications of this even in his early writings (eg, see p 40, 49-58 here) and it has been documented by Hacker (eg, see his paper in The New Wittgenstein) and others but without any comprehensive account to date.Overall an exceptional book for introducing W to a general philosophical audience. -/- Those wishing a comprehensive up to date framework for human behavior from the modern two systems view may consult my book ‘The Logical Structure of Philosophy, Psychology, Mind and Language in Ludwig Wittgenstein and John Searle’ 2nd ed (2019). Those interested in more of my writings may see ‘Talking Monkeys--Philosophy, Psychology, Science, Religion and Politics on a Doomed Planet--Articles and Reviews 2006-2019 3rd ed (2019), The Logical Structure of Human Behavior (2019), and Suicidal Utopian Delusions in the 21st Century 4th ed (2019). (shrink)

Trên văn đàn thế giới, ý tương tự của tiêu đề bài viết này đã từng xuất hiện. Nhưng có vẻ như chưa có câu nào gãy gọn trong tiếng Việt về ý nghĩa này. Ít nhất thì cũng hiếm thấy xuất hiện. Do đó, tôi lấy chính tiêu đề bài suy ngẫm ngắn này để phản ánh một thông điệp có giá trị trong thế giới thông tin hỗn loạn ngày nay.