The identity and institutional capabilities of the European Union (EU) have changed over the years. As a global player in international politics, the EU has recognized the need to develop a comprehensive space policy perspective. This perspective is shaped by changes in the dynamics of the space ecosystem, the "New Space", and this phenomenon consists of new business models, new technologies, new markets, new value chains and new actors. New space actors (private investors) have fundamentally changed the dynamics of space (...) activities. The subject of the research is the peculiarities of the influence of investment processes of the EU and Ukraine on the development of space industries. The methodological basis consisted of general scientific and special methods of knowledge, based on a systematic approach to the consideration of economic processes. The article aims to examine investment in the context of space management in the EU and Ukraine, and to examine in detail the trends in such funding of space companies. In order to better understand the European space system. The article concludes that, recognizing the indisputable importance of space applications and safety of space systems, the EU attaches great importance to taking into account the trend of "New Space" in its governance structure and stimulating changes in this sector. Unfortunately, Ukraine lags far behind in this respect. In the EU, in the initial stages of space research and use, space programs are financed from the general budget, and as individual activities reach a level of profitability, their public funding is reduced. Therefore, the sphere of commercial space activities and the share of private investments in their total financing are rapidly growing. The reduction of state expenditures is compensated by investments of private business in commercial projects. Thus, the article emphasizes the particular importance of private investments in the development of the Ukrainian space industry and points to the need to develop the commercialization of space activities, especially given the potential in the absence of budget financing. It is impossible to compare the sufficiently powerful and effective investment system of the EU and the lack of even state financing of the space industry in Ukraine. Against the backdrop of hostilities in Ukraine, there is a significant need to reconsider investments in this area on the basis of public-private and international partnerships. Conclusion. The main tasks for Ukraine are revision and change of the state policy, right accents on investments into the space industry, qualitative overcoming of bureaucratic obstacles, approval of a new Strategy of Space Industry Development. As an example, one could use the experience of the EU and refer to its previous experience in this sphere to have an opportunity to stay among the world space powers. (shrink)

The available resources for global health assistance are far outstripped by need. In the face of such scarcity, many people endorse a principle according to which highest priority should be given to the worst off. However, in order for this prioritarian principle to be useful for allocation decisions, policy-makers need to know what it means to be badly off. In this article, we outline a conception of disadvantage suitable for identifying the worst off for the purpose of making health resource (...) allocation decisions. According to our total advantage view: the worst off are those who have the greatest total lifetime disadvantage; advantage foregone due to premature death should be treated in the same way as other ways of being disadvantaged at a time; how badly off someone is depends on the actual outcomes that will befall her without intervention, not her prospects at a time; and all significant forms of disadvantage count for determining who is worst off, not just disadvantage relating to health. We conclude by noting two important implications of the total advantage view: first, that those who die young are among the globally worst off, and second, that the epidemiological shift in the global burden of disease from communicable to non-communicable diseases should not lead to a corresponding shift in global health spending priorities. (shrink)

This paper examines ethics in finance, specifically related to responsible investment. In recent years, socially responsible principles are becoming the de facto standard not only for socially responsible but also for profitable investing. For instance, the United Nations developed the Principles for Responsible Investment (PRI) in 2006, which require institutional investors to incorporate ESG (Environmental, Social and Governance) issues into investment analysis and decision-making processes. This raises the following question: can responsible investments be justified from an ethical (...) point of view? In this paper I first explain responsible investments. Then, I turn to the ethical foundation of responsible investments. There are two arguments for responsible investments. I argue that both fail. Therefore, my conclusion is that the ethical foundation of responsible investments is not firm. (shrink)

Critics of investment citizenship often appeal to the idea that citizenship should not be commodified. This chapter clarifies how the different arguments in support of this Commodification Objection are best understood as versions of wider claims in the literature on the moral limits of markets (MLM). Through an analysis of the three main objections – The Wrong Distribution Argument, The Value Degradation Argument, and the Motivational Corruption Argument – it claims that these objections rely on flawed and partial interpretations (...) of the broader debates. As such, they do not in fact support the conclusions critics of investment citizenship wish to draw from them. The paper concludes that the commodification objection to investment citizenship should therefore be abandoned, and that normative resistance to the practice should be made on other grounds. (shrink)

[First paragraph]: On Wednesday, June 8, 2011, UK’s The Guardian reported that numerous US universities including Harvard and Vanderbilt were invested in companies that were buying large tracts of African farmland and kicking off the indigenous farmers in order for their employees (mostly non-Africans) to grow cash crops to sell to Europe.1 Harms associated with this land-grabbing include, in addition to the evictions themselves, corruption among African governments and among absentee African land owners, increased food prices, and accelerated climate change.

The purpose of this paper is to think about the various methods of attempting to make money in the capital markets (“investing”). I suggest that though running a betting system on a Roulette wheel is silly, running a betting system on the capital markets may be a good idea.

China has overtaken Japan as the world's second-biggest economy. In a remarkably short span– less than fifteen years– the United States economy has experienced a relatively huge decline vis-à-vis China on a nominal GDP basis.

While many argue investment-based criteria for immigration are wrong or at least problematic, skill-based criteria remain relatively uncontroversial. This is normatively inconsistent. This article assesses three prominent normative objections to investment-based selection criteria for immigrants: that they wrongfully discriminate between prospective immigrants that they are unfair, and that they undermine political equality among citizens. It argues that either skill-based criteria are equally susceptible to these objections, or that investment-based criteria are equally shielded from them. Indeed, in some (...) ways investment-based criteria are less normatively problematic than skill-based criteria. Given this analysis, the resistance to investment-based migration criteria, but not to skill-based criteria, is inconsistent. (shrink)

Guardians of companion animals killed wrongfully in the U.S. historically receive compensatory judgments reflecting the animal’s economic value. As animals are property in torts law, this value typically is the animal’s fair market value—which is often zero. But this is only the animal’s value, as it were, to a stranger and, in light of the fact that many guardians value their animals at rates far in excess of fair market value, legislatures and courts have begun to recognize a second value, (...) the animal’s value to her guardian. What is this noneconomic value, and how should guardians be compensated for it? In Part 1, I propose a novel method to answer this question. My method includes a third, even more controversial, value: the animal’s value to herself. The idea that an animal could invest in herself faces many criticisms. In Part 2, I defend the claim by examining the mental capacities of dogs (Canis familiaris). I rebut the central objection—that dogs lack the psychological capacities required for self-investment—by showing that dogs are autonomous, think about their futures, and inhibit their desires in light of their goals. I close by suggesting that whereas the approach has conservative implications for the valuation of companion animals, it has radical implications for the valuation of agricultural animals. -/- Keywords: companion animals, animal law, legal theory, value theory, practical ethics, economic value, noneconomic value, intrinsic value, instrumental value, animal welfare, dogs, animal rights, capital value, self-investment value, autonomy, wrongful death, philosophy of animal law, animal minds, moral standing of animals, legal standing of animals, agency, prospection, canine neurobiology, bereavement, replaceability, non-ideal ethics . (shrink)

But, a cost or an investment, without sciences and scientific advancement, humankind has no future, or at least, no human future, while the animal future remains to be seen.

An updated excerpt from the larger paper AI Human Impact. Excerpt explains why ESG investing requires Updating for the AI economy.

Green New Deal policies are proposed to tackle the climate emergency. These policies focus on driving climate innovation through unprecedented financial policy levers. However, while the macro-level financing dynamics are clear, the influence of niche level dynamics of sustainable innovation financing remain unexplored within these policy settings. Through the context of the European Green Deal and a focus on the agri-tech start-up sector in the Netherlands, we identify factors likely to reduce the efficacy of these policies from an innovation management (...) perspective—such as project matching issues, socio-ethical factors or the characteristics of agri-food climate innovations. We go on to conceptualise that these challenges represent a range of asymmetries—from classic information asymmetries to less common value and objective asymmetries—between climate innovators and private investors and financers. Many remedies for asymmetries involve costs, likely to further inhibit the efficacy of the European Green Deal and similar policies. A partnering approach is proposed, where the non-financial resources of incumbent actors are harnessed and leveraged to enhance climate innovation performance. (shrink)

This paper focuses on the novel and leading innovations and investments into the new energy technologies. Energy issues, including sustainability, energy security and energy dependency are probably one of the most crucial and critical issues that humanity must face at the moment. Recent global challenges, such as climate change and the rise of the “green” energy (represented by the increasing deployment of the renewable energy sources (RES)), as well as distributed energy generation and platform energy markets (e.g. peer-to-peer (P2P) markets (...) for electricity) that were made possible thanks to the rise of Internet, social networks and sharing economy, all create a demand for the new energy technologies. The leaders in energy innovations, such as Tesla are becoming the true trendsetters who are marking the way for the humankind to go forward.We provide an overview of the innovative energy technologies that might change the energy market as we know it and discuss their outcomes and possible implications. Moreover, we contemplate the changes that might be caused by the ongoing transition from the fossil fuels to RES. Our results might be of some interests to researchers and stakeholders dealing with energy economics and policy. (shrink)

Research article title: Private Sector Eyes Investment Funds Author: Vuong Quan Hoang Outlet: Vietnam Investment Review (pg. 17) Published on: 15 - 21 June 1998.

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

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

The question of when to stop an unsuccessful experiment can be difficult to answer from an individual perspective. To help to guide these decisions, we turn to the social epistemology of science and investigate knowledge inquisition within a group. We focused on the expensive and lengthy experiments in high energy physics, which were suitable for citation-based analysis because of the relatively quick and reliable consensus about the importance of results in the field. In particular, we tested whether the time spent (...) on a scientific project correlates with the project output. Our results are based on data from the high energy physics laboratory Fermilab. They point out that there is an epistemic saturation point in experimenting, after which the likelihood of obtaining major results drops. With time the number of less significant publications does increase, but highly cited ones do not get published. Since many projects continue to run after the epistemic saturation point, it becomes clearer that decisions made about continuing them are not always rational. (shrink)

The problem of supporting scientific and educational institutions is considered. A method of selective financing of scientific and educational institutions that create innovative technologies taking into account their investment in innovative developments is proposed. On the basis of statistical data on the indicators for assessing the activities of scientific and educational institutions and the indicator of the innovative potential of a scientific and educational institution from the production of innovations (PNn), their rating was calculated. The essence of PNn is (...) to compare the indicators of the volumes of income of the special fund Dsfn and the volume of expenditures of the scientific and educational institution Vn. -/- In order to stimulate scientific and educational institutions to create innovative technologies, it was proposed to introduce targeted investments. The problem of quantifying the rate of premium on the basis of an integrated approach in terms of indicators of innovative potential from the production of innovations and the rating of a scientific and educational institution for 2 institutions (namely: K and H) has been solved. Institution K will receive a large increase, and institution N will receive a smaller increase, the value of which will be 56.23 % and 43.76 %, respectively. The results showed the independence of the indicator of the innovative potential of a scientific and educational institution from the production of innovations from the previous rating of a scientific and educational institution, or vice versa. The proposed methodology has been tested by an experimental method, targeted investments have been determined based on an integrated approach in terms of indicators of innovative potential and the rating of a scientific and educational institution. -/- This study is of practical interest to government authorities and grantors when allocating funds according to the vector of selective financing of scientific and educational institutions through targeted investments in the development of innovative technologies, and theoretically – to researchers dealing with issues of financial security, protectionism and public administration. (shrink)

The current study is conducted to examine how investors’ information priorities for investment decision-making influence their fear during the crisis.

Tech companies have eagerly utilised mindfulness techniques in order to increase both creativity and productivity among their managers and employees. However, while a growing number of studies within fields of clinical psychology and psychiatry suggest that mindfulness provides myriad health benefits, such literature does not critically evaluate the societal and affective influences of mindfulness and other wellness practices on working bodies. By focusing on discourses related to mindfulness training, this paper explores the conception of ‘being present’. Drawing on the phenomenology (...) of the body, affect theory, and critical mindfulness studies, we develop a new theoretical framework for analysing mindfulness as a somatic and social force in technology-driven business contexts. Using research material drawn from the online advertising of mindfulness programmes for managers, this paper describes ‘presence’ as a new labour concept associated with the cultivated performance skill of the managerial body in the era of late capitalism. We conclude that mindfulness training – transforming the somatic into an affective investment – has transformed Buddhist meditation into capital that can be bought and consumed. (shrink)

This article argues that capital flight of real investment presents governments with a quadrilemma. First, governments can tailor their policies to attract investors – but this is incompatible with a whole range of alternative policy choices. Second, they can simply accept capital flight – but this is incompatible with a robust capital stock and tax base. Third, they can harmonize its taxes and regulations with other states – but this is incompatible with international independence. Fourth, they can impose capital (...) controls – but this is incompatible with international capital mobility. These incompatibilities make up four different goals, the value of which are described. Strategies may be mixed, but the pursuit of any three goals must always come at the expense of the fourth. (shrink)

Abstract: For the last two decades, land and land-related problems are more complicated ever before. Especially the proliferation of large-scale rural land investments and the vulnerability of the local communities in land abundant developing countries instigated researchers, human right activists, and international and regional organizations to proposed governance guidelines, principles, and codes of conduct for large-scale land investments. To identify policy flaws on the protection of local community rights under the governance process of large-scale rural land investment in Amhara (...) National Regional State Ethiopia the commonalities of those international and regional accepted governance guiding lines and principles are taken as a point of reference to examine the land governance policies of the region through the approach of document analysis. The result shows all legislation with regard to the governance of large-scale rural land investment is flawed throughout the land policy reform processes and identified five ways in which the de jure land-related rights of the local communities are compromised and exacerbated the vulnerability of their livelihoods. (shrink)

Scientific sources demonstrate different attitudes of researchers to cryptocurrencies because they treat them as a category of currency, virtual money, commodity, etc. Accordingly, the relation to the valuation and risk of cryptocurrency as an investment object is different. The purpose of the article is to identify cryptocurrency value formation factors and determine the risks of investing in cryptocurrency. Cryptocurrency is simultaneously considered a currency, an asset with uncertain income, and a specific product, the price of which is determined by (...) the energy costs for mining new cryptocurrency blocks. Thus, the paper examines the risks of investing in cryptocurrency from several positions. First, the study identifies the factors of formation of the value and risk of cryptocurrency as ordinary money based on comparing cryptocurrency with traditional money. Unlike traditional money, cryptocurrency is not tied to the economic performance of a particular country; also, central banks do not control or regulate their mining. Instead, the cryptocurrency emissions depend on the computational capacity of the equipment used for their mining. As a financial asset, cryptocurrency can be a “financial bubble” because their value increasing often exceeds the cost of mining. On the other hand, given the emergence of cryptocurrency as a phenomenon of the information economy, the paper analyses the impact of specific technical features (cryptographic hashing algorithm, the complexity of creating new blocks, the technology of verification of mining operations, etc.) on the risk of investing in cryptocurrency assets. (shrink)

This study examined the determinants of trust in artificial intelligence (AI) in the area of asset management. Many studies of risk perception have found that value similarity determines trust in risk managers. Some studies have demonstrated that value similarity also influences trust in AI. AI is currently employed in a diverse range of domains, including asset management. However, little is known about the factors that influence trust in asset management-related AI. We developed an investment game and examined whether shared (...) investing strategy with an AI advisor increased the participants’ trust in the AI. In this study, questionnaire data were analyzed (n=101), and it was revealed that shared investing strategy had no significant effect on the participants’ trust in AI. In addition, it had no effect on behavioral trust. Perceived ability had significantly positive effects on both subjective and behavioral trust. This paper also discusses the empirical implications of the findings. (shrink)

There is a need to rapidly assess the impact of new technology initiatives on the Counter Improvised Explosive Device battle in Iraq and Afghanistan. The immediate challenge is the need for rapid decisions, and a lack of engineering test data to support the assessment. The rapid assessment methodology exploits available information to build a probabilistic model that provides an explicit executable representation of the initiative’s likely impact. The model is used to provide a consistent, explicit, explanation to decision makers on (...) the likely impact of the initiative. Sensitivity analysis on the model provides analytic information to support development of informative test plans. (shrink)

Concern about the ethics of clinical drug trials research on patients and healthy volunteers has been the subject of significant ethical analysis and policy development—protocols are reviewed by Research Ethics Committees and subjects are protected by informed consent procedures. More recently attention has begun to be focused on DNA banking for clinical and pharmacogenetics research. It is, however, surprising how little attention has been paid to the commercial nature of such research, or the unique issues that present when subjects are (...) asked to consent to the storage of biological samples. Our contention is that in the context of pharmacogenetic add-on studies to clinical drug trials, the doctrine of informed consent fails to cover the broader range of social and ethical issues. Applying a sociological perspective, we foreground issues of patient/subject participation or ‘work’, the ambiguity of research subject altruism, and the divided loyalties facing many physicians conducting clinical research. By demonstrating the complexity of patient and physician involvement in clinical drug trials, we argue for more comprehensive ethical review and oversight that moves beyond reliance on informed consent to incorporate understandings of the social, political and cultural elements that underpin the diversity of ethical issues arising in the research context. (shrink)

In markets globalization and increasing competition context, governments of the world’s leading countries are forced to use complex organizational and economic instruments to support the countries’ economy. One of such instruments is creation of Free Economic Zones (FEZ) with favorable conditions for doing business. Over the last decade activation process of Free Economic Zones mechanism disposal for the economy of a particular country development has been possible to observe. If in 1995 there were approximately 500 zones in the world, now (...) there are more than 4,300 zones in more than 130 countries which employ more than 68 thousand workers. In addition, global practice has shown that FEZ activities effective organization is efficient not only in giving impetus to the country’s economy development, but in bringing it into the world leaders as well. (shrink)

When a company wishes to enter new country, the three major issues can be seen like marketing, sourcing and investment.

This article discusses moral issues raised by defined contribution retirement plans, specifically 401(k) plans in the United States. The primary aim is to defend the claim that the federal government ought to require 401(k) plans to include a range of socially responsible investment (SRI) options. The analysis begins with the minimal assumption that corporations engage in behavior that imposes morally impermissible harms on others with sufficient regularity to warrant attention. After motivating this assumption, I argue that individual investors typically (...) share in the responsibility for the harms imposed by corporations in which they invest, and that they therefore have a moral obligation to incorporate considerations of social responsibility into their investment decisions, when possible, to avoid being complicit in morally impermissible corporate behavior. I further argue that individuals are subject to substantial institutional and structural pressures that create a powerful incentive to invest in 401(k) plans, even though such plans typically lack any SRI options. To eliminate this pressure to commit indirect harm in the process of saving for retirement, I recommend that the federal government requires 401(k) plans to incorporate a range of SRI options, and I defend this proposal from several possible objections. (shrink)

The article develops a general theory of the goals of free moral commitment. The theoretical hook is the discussion of the strict efficiency striving as demanded by the movement and theory of effective altruism. A detailed example shows prima facie counterintuitive consequences of this efficiency striving, the analysis of which reveals various problems such as: merely point-like but not structural commitment; radical universalism; violation of established moral standards and institutions. The article takes these problems as an occasion to develop a (...) general theory of moral investment with moral guidelines and planning instruments of its implementation such as: efficiency; preservation of existing moral standards and obligations, especially also towards those close to one; rooted universalism with adequate consideration of all beneficiaries of one's moral concern through allocation of separate budgets; real efficiency also through inclusion of strategic and organic investments. (shrink)

Nghiên cứu này được thực hiện để tìm hiểu liệu các nguồn thông tin ảnh hưởng đến quyết định đầu tư của nhà đầu tư có ảnh hưởng đến sự sợ hãi của họ khi khủng hoảng xảy ra hay không? Nghiên cứu đã sử dụng phương pháp phân tích Bayesian Mindsponge Framework (BMF) trên bộ dữ liệu từ 1,526 nhà đầu tư Trung Quốc và Việt Nam. Kết quả nghiên cứu chỉ ra rằng, các nhà đầu tư tiếp cận (...) các loại thông tin khác nhau khi đưa ra quyết định đầu tư sẽ ảnh hưởng đến tần suất phản ứng sợ hãi khác nhau. Cụ thể, các nhà đầu tư tham khảo thông tin từ chuyên gia hoặc tự phân tích khi đưa ra quyết định đầu tư ít bị đóng băng (biểu hiện của tâm lý sợ hãi) hơn trong thời kỳ thị trường sụt giảm. Ngược lại, những người đưa ra quyết định đầu tư dựa trên thông tin từ người quen hay bạn bè và trực giác sẽ bị đóng băng thường xuyên hơn. -/- [English Abstract] This study was conducted to explore whether the sources of information priority during decision-making contribute to their fear reactions during crises. The research utilized the Bayesian Mindsponge Framework (BMF) analytics on data collected from 1,526 investors in China and Vietnam. The study results indicated that investors prioritizing different types of information when making investment decisions would have different frequency of fear reactions. Specifically, investors who prioritized information from experts or conducted self-analysis when making investment decisions experienced less freezing (an expression of psychological fear) during market downturns. Conversely, those who based their investment decisions on information from acquaintances, friends, and intuition tended to experience freezing more frequently. (shrink)

The purpose of this paper is to point the way to the money tree. Currently, almost all investment professionals think that outperformance requires an “edge,” that is, the ability to predict the future to some degree. In this paper, I suggest that money can be made in a 0, or even slightly negative, expected value environment by carefully choosing investment/bet sizes. Philosophical considerations are found mainly in Section 4.

In the recent past, Vietnam has dramatically increased its investment relationship and trade with the United States. At the same time, United States foreign direct investment and trade with China has been decreasing. This is even more significant when we are in a period of internal growth within the United States. Using comparative business system analysis theory and a mixed method approach we conclude that Vietnam is turning into the new China for United States firms due to the (...) fewer differences that exist between their business systems. The Chinese business system has major differences when compared with the economic system of the United States, whereas the Vietnam system has closer resemblance to the United States system. We have laid out inferences of our arguments for future research, particularly in the area of institutional comparative advantage. (shrink)

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

The danger of deflation has been rather frequently mentioned recently among nu-merous concerns over the European and partly American economies. Analysts cite the Japanese economy which has been suffering from deflation for the last two decades despite the large investments in economy and the government's efforts to increase inflation. Similarly, notwithstanding many trillions of dollars, euro, pounds and yen that were invested in economies over the past few years, the infla-tion in the Western countries still remains low. On the whole, (...) there are reasons to maintain that European countries suffer from ‘the Japanese disease’, and this disease can progress or even become chron-ic. The USA, although to a lesser extent, has the signs of the disease as well. As a result, the financial infusions can become permanent, as it happened in Japan. The present paper defines the reasons of the problem, explains the irregularity of the inflation-deflation processes in the world and also offers some forecasts. (shrink)

This work examines the development and performance of federal independent regulatory bodies in Canada in the period up to 1979, with particular attention to the operation of legislative schemes that include executive review and appeal powers. The author assesses the impact of the exercise of these powers on the administrative law process, and proposes new models for the generation, interpretation, implementation, review, and enforcement of regulatory policy. The study includes a series of representative case studies based on documentation and extensive (...) interviews with individuals drawn from government, agencies, and other parties, including counsel for public interest groups. This enables author, writing from her experience as a participant-observer embedded in the public interest legal sector, to draw on the experiences and perspectives of a broad range of participants in the regulatory process, including but not limited to those dealing with the regulated energy, transportation, communications, and foreign investment sectors. Legal principles identified as emergent in leading judicial decisions in administrative law are used to assess the powers and practices used in executive reviews and appeals. The author finds those powers and practices to be flawed and proposes changes. The proposed models are designed to accord with emerging legal principles and avoid flaws of the types identified in the review and appeal provisions. This work, written under contract with the Administrative Law Project of the Law Reform Commission of Canada, formed one part of a comprehensive study of administrative law at the federal level in Canada. (shrink)

Abstract. In this article we developed scientific and applied foundations of commercialization of the nature-resource potential of anthropogenic objects, on the example of exhausted mines. It is determined that the category of “anthropogenic object” can be considered in a narrow-applied sense, as specific anthropogenic objects to ensure the target needs, and in a broad theoretical sense, meaning everything that is created and changed by human influence, that is the objects of both artificial and natural origin. It was determined that problems (...) of commercialization of the natural-resource potential of anthropogenic objects are most often considered by researchers for specific objects, without having complex methodological coverage from the point of view of combining environmental, technical, economic and managerial components. When studying the substantiation of the scientific base, the authors confirmed the feasibility of the commercialization of natural-resource potential of anthropogenic objects on the example of a number of theoretical scientific studies in reclamation, reconstruction, recreation, remediation, restoration of biological productivity and economic value of land disturbed by economic activity. The considered examples of exhausted mines in the 21st century in the USA, Canada, Germany, Romania, and Poland indicate a wide range of opportunities for their commercialization. The study of the potential for commercialization of exhausted mines in the post-Soviet countries testified to the underused reserves for the commercialization of their nature-resource potential and their high potential for further development. The authors proposed the identification of anthropogenic objects on the basic livelihood spheres of society. There were identified the main system (natural, biological, technical, economic, social, managerial) and structural (subjects, trends, threats, risks, problems, challenges) factors of diagnosing the state of an anthropogenic object. A set of measures has been developed for commercialization of an anthropogenic object in functional and production activities, product policy, financial and investment spheres, pricing and sales policies, promotion, management and determination of property rights. Recommendations were provided on optimizing the management decision-making process based on a set of positivistic development principles, methods, and management functions. The study allows international organizations, state and local authorities, territorial communities, owners and potential investors to see new opportunities and make mutually beneficial decisions on the rational use of the nature-resource potential of anthropogenic objects. (shrink)

The article deals with a new financial tool of attracting capital, known as Initial Coin Offering (ICO). In conditions of reduced banking lending and difficult access to finance for SMEs, ICO is viewed to be one of the possible ways to access capital. It considers the main advantages and disadvantages of ICO performance, including its typical features, challenges and regulatory approaches to tax regulation, cybersecurity. The authors of the article determine stages of the ICO mechanism, identifying potential risks and ways (...) to mitigate them, focusing primarily on the need to control and regulate ICO projects. The authors identify the main types of ICO funding, including hybrid and pure funding. The research contains an analysis of ICO trends and their duration for the period of 2013-2017. The capital raised through ICO performance over the period of 2013-2017 is analysed, and determination of the exponential trend line showing the level of its approximation is determined. The study covers the territorial distribution of ICO, in which the top positions regarding the amount of capital raised by ICO are attributed to the USA and EU member states. The existence of ICO regulation in European countries, such as Switzerland and UK, was defined positive in terms of further development of the relevant regulation in the financial market. The article considers the best ICO practices in EU member states. To mitigate risks relating to ICO performance and to increase the level of investment, it would be reasonable to create regulatory rules in every country where cases of ICO performance are reported, based on the practice of the mentioned European countries. The authors give recommendations regarding ICO regulation in Ukraine, taking into consideration the relevant European experience. (shrink)

As the world’s population grows and urbanization continues, the global waste crisis is becoming more severe, especially in developing countries. Without proper waste management, they may encounter various environmental and health risks. Biological technologies are regarded as promising waste management and recycling approaches in developing countries due to their cost-effectiveness and capability to handle diverse waste categories. One prominent technology in this aspect is the vermicomposting of organic waste utilizing the black soldier fly larvae. Nevertheless, significant financial resources are still (...) necessary to advance and expand biological waste treatment, which requires the participation of businesses. By examining waste management companies listed on the Vietnamese stock market, we highlight two challenges that hinder the adoption and scaling of the waste treatment system using black soldier flies and potentially other biological technologies in Vietnam. Specifically, the business regards the environmental services they offer primarily as a means to generate profit rather than as a genuine commitment to environmental preservation, and the values of companies operating in the environmental sector, particularly in waste management, have been significantly undervalued by the Vietnamese investing public. Therefore, we advocate for societal shifts toward the eco-surplus culture and apply the semiconducting principle of monetary and environmental values exchange to address the problem. (shrink)

This paper studies the issue of financing the Space Industry at the State Level in the Postwar period as part of the country’s recovery plan, as one of the foremost critical zones of technological development and to ensure space security and defence. The European Space Agency (ESA) is, identified as the main player in the European space sector. It is determined that the current structure of ESA – Space 4.0 – provides for the success of European space activities in close (...) coordination with the needs of European societies and economies. Despite all the prospects, offered by the Space Industry, a number of barriers can hinder full participation in the space economy. These ‘barriers’ include the requirement of large capital investments, technological risk and longer de-velopment times. Public-private partnerships have been, identified, as an effective way to overcome these barriers, so the government should play an important role in pro-moting innovation through the space sector. The war in Ukraine, which began on Feb-ruary 24, 2022, once again, reminds us of the unique value, and critical use of outer space for security and defence purposes. From intelligence gathering and monitoring to the availability of communications. It is determined that the war already has serious consequences for the European space sector. The Space Industry of Ukraine is a critical component of the national economy of Ukraine because it is the motor of numerous imaginative changes in other segments of the economy and contributes to the improve-ment of social, political, financial and natural circles of society. In Ukraine, there's an incessant disappointment in the State to fulfil its commitments to the ventures in the Space Industry. In the conditions of full-scale, ‘war’ the Space Industry isa key element of national security and defence of Ukraine. The financing of the Space Industry at the State level in the post-war period is crucial as part of the country’s recovery plan. (shrink)

This paper considers the issue of state financial protectionism of the agricultural industry in the context of regionalization. A comprehensive methodology of state financial protectionism of the agricultural industry in the context of regionalization has been proposed, taking into consideration IPR and the value of the agricultural industry in a region. Based on statistical data on the indicators of investment attractiveness of the region (IAR) and the value of the agricultural industry in a region, regions for financing were determined. (...) The problem of determining the fate of state financial protectionism for the agricultural industry in the context of regionalization has been stated and solved. The proposed methodology was tested by an experimental method. It is proposed that the state financial protectionism in the context of regionalization should include budget (investment) financial injections based on the investment attractiveness of a region and the value of the agricultural industry in the region, which are directed to the agricultural sector, in order to support it. The calculation results show that the distribution of financial resources with the available amount of public finances S=1 allocated for support is carried out proportionally. The comprehensive approach has made it possible to identify four regions for financing, and those are the regions that have the greatest value in the agricultural industry. Practical value is for management bodies (local, territorial, etc.) in the distribution of funds according to the vector of protectionism of the agricultural industry. The theoretical value is for researchers dealing with financial support, state protectionism, and public administration. (shrink)

Purpose: To develop proposals on the directions of institutional support for the processes of creativity of the Ukrainian economy. Design/methodology/approach: The analysis of trends in the creativity of the Ukrainian economy is carried out and proposals are developed for conceptualizing institutional support for these processes. The authors set out to develop proposals for institutional support for creativity processes and offer recommendations for systematic updating of Ukrainian legislation in the areas of state regulation of high-tech business. The information base was the (...) information materials of the State Statistics Service of Ukraine, Ministry of Economic Development and Trade of Ukraine, the statistical databases of the European Commission, OECD and World Bank for the period 2014–2020. The research methodology is based on scientific tools that include comparative analysis and economic and mathematical modeling. Findings: Building a national program of public investment in creative development will allow us to systematically approach the issue of institutional support for technological breakthroughs. Research limitations/implications: Recommendations on the development and improvement of legislative instruments of deregulatory policy, harmonization with European standards are substantiated. Directions of systematic updating of legislation on guaranteeing foreign investment of creative projects and targeted investment of joint research projects of academic science and creative organizations are proposed. The implementation will allow a systematic approach to the issue of institutional support for the technological breakthrough of Ukraine. Originality/value: There is a need to step up institutional activities in the field of organizing research centers, introduce targeted investment in the academic science and research activity of creative organizations. (shrink)

The purpose of the article is to develop a methodology for alternative substantiation of financial support for bridge construction. To achieve the purpose, the following general scientific and special methods and techniques of research were used: “golden ratio” rule; systematization and generalization; generalization of the results of the analysis and the logical generation of conclusions. Initially, the article analyzed the state of bridge structures in Europe and Ukraine. Based on the analysis, a disappointing situation has been identified, namely that a (...) significant ratio of bridges number require major overhaul or are in critical condition. During the research, the following tasks were solved, namely: physical wear of the bridge as a failure was considered; the feasibility of investing in reconstruction or new bridge construction was determined. For the purpose of rational use of financial resources, which are limited in the age of economic challenges, and on the basis of the rule of “golden proportion”, the maximum percentage of investment in reconstruction is determined. If the limit is exceeded, it is decided to build a new bridge. This result allows making an economically sound decision and evaluating the effectiveness of the invested resources. It is proved that if the wear index of the overhaul bridge construction is higher than the wear rate of the new bridge construction by λ2 / λ1, and the amount of funds for overhaul reaches 70% of the funds needed to build a new one, it is better to build a new bridge. (shrink)

Investments in mitigating climate change have their greatest environmental impact over the long term. As a consequence the incentives to invest in cutting greenhouse gas emissions today appear to be weak. In response to this challenge, there has been increasing attention given to the idea that current generations can be motivated to start financing mitigation at much higher levels today by shifting these costs to the future through national debt. Shifting costs to the future in this way benefits future generations (...) by break- ing existing patterns of delaying large-scale investment in low-carbon energy and efficiency. As we will see in this chapter, it does appear to be technically feasible to transfer the costs of investments made today to the future in such a way that people alive today do not incur any net cost. the aim of this chapter is to take seriously the possibility that climate change has produced an extremely intractable political problem and that we must now consider strong measures that can break existing patterns of delaying mitigation. I defend the claim that if climate change involves a stark conflict of interests between current and future generations, then borrowing from the future would be both strategically and normatively much better than the status quo. Nevertheless, I challenge the borrowing from the future proposal on the grounds that it is not in fact the powerful tool for motivating existing agents that its proponents imagine it to be. The purpose of developing this critical argument is not, however, simply to throw doubt onto the idea of borrowing from the future. If we really do find ourselves in a political context where the prospects for effective action are very poor then strategic forms of buck-passing may make an important positive contribution to avoiding dangerous global cli- mate change. Consequently, if debt financing is not as powerful of a motivational tool as imagined we still have strong reasons, I will argue, to identify other strategies that will change agents’ incentive structures. To this end, I propose an alternative form of passing on the costs of mitigation to the future that warrants consideration. (shrink)

Can investing in women’s agriculture increase productivity? This paper argues that it can. We assess climate and gender bias impacts on women’s production in the global South and North and challenge the male model of agricultural development to argue further that women’s farming approaches can be more sustainable. Level-based analysis (global, regional, local) draws on a literature review, including the authors’ published longitudinal field research in Ghana and the United States. Women farmers are shown to be undervalued and to work (...) harder, with fewer resources, for less compensation; gender bias challenges are shared globally while economic disparities differentiate; breaches of distributive, gender, and intergenerational justices as well as compromise of food sovereignty affect women everywhere. We conclude that investing in women’s agriculture needs more than standard approaches of capital and technology investment. Effective ‘investment’ would include systemic interventions into agricultural policy, governance, education, and industry; be directed at men as well as women; and use gender metrics, for example, quotas, budgets, vulnerability and impacts assessments, to generate assessment reports and track gender parity in agriculture. Increasing women’s access, capacity, and productivity cannot succeed without men’s awareness and proactivity. Systemic change can increase productivity and sustainability. (shrink)

As populations grow and arable land becomes increasingly scarce, large-scale long- term land leases are signed at a growing rate. Countries and investors with large amounts of financial resources and a strong agricultural industry seek long-term land leases for agricultural exploitation or investment purposes. Leaders of financially poorer countries often advertise such deals as a fast way to attract foreign capital. Much has been said about the short-term social costs these types of leases involve, however, less has been said (...) about the normative dimension of their long-term environmental impact. We therefore will focus on the likely impact such deals have for soil conservation, by (1) briefly introducing the basics of long-term leasing arrangements by comparing land leases to the renting of buildings, (2) explaining from a soil sciences perspective the difficulties in assessing the current value of an estate and in calculating the damages of soil erosion and degradation, and (3) show how difficult it is to incentivize the conservation of soil quality when one cannot sufficiently and cost-effectively valorize existing environmental capital and eventual future damages. Attempting to oblige tenants through contracts to invest in sustainable stewardship has limited potential when liability payments do not reflect true costs and are hard to enforce. (shrink)

Although continued investments in nanotechnology are made, atomically precise manufacturing (APM) to date is still regarded as speculative technology. APM, also known as molecular manufacturing, is a token example of a converging technology, has great potential to impact and be affected by other emerging technologies, such as artificial intelligence, biotechnology, and ICT. The development of APM thus can have drastic global impacts depending on how it is designed and used. This paper argues that the ethical issues that arise from APM (...) - as both a standalone technology or as a converging one - affects the roles of stakeholders in such a way as to warrant an alternate means furthering responsible innovation in APM research. This paper introduces a value-based design methodology called Value Sensitive Design (VSD) that may serve as a suitable framework to adequately cater to the values of stakeholders. Ultimately, it is concluded that VSD is a strong candidate framework for addressing the moral concerns of stakeholders during the preliminary stages of technological development. (shrink)

One famous scene in The Wolf of Wall Street (2013) is the dialogue between the young Jordan Belfort (Leonardo DiCaprio) and the expert trader Mark Hanna (Matthew McConaughey). Hanna is complaining that the stock market is unpredictable; it’s “fugazi … it’s fairy dust. It doesn’t exist. It’s never landed. It is not matter. It’s not on the element chart. It’s not real”. But the fact that something is unpredictable and non-physical does not imply that it does not exist. On the (...) other hand, its unpredictability, non-physicality, and the fact that the stock market trend is largely determined by investors’ beliefs, do make its nature difficult to grasp. -/- This special issue of Rivista di Estetica aims to explore the financial sector from an ontological point of view. While the ontology of money has been extensively studied, few scholars have focused on the stock market and, more generally, on those entities belonging to the investment landscape. Matters are made more complicated by the fact that the financial sector is characterized by an ever-increasing use of digital technology, including software elements that trade in the market themselves. We believe that a careful study of this phenomenon may help us better to understand the role of artificial agents in the social world. (shrink)