Under one of the last remaining single-party communist regimes, Vietnam’s in-progress transition is a hybrid between post-Soviet reforms and Chinese authoritarian compromise. This chapter provides a brief account of the historical events and cultural attributes that have shaped the current political and economic configuration of the country, a coverage of globalization and entrepreneurial endeavours in relation to trade liberalization, an analysis of growing consumerist tendencies and the solidification of a circle of economic elites, an overview of Vietnamese foreign (...) trade, with a focus on the Association of Southeast Asian Nations (ASEAN) and China as significant partners, and a macroeconomic assessment of the country. (shrink)

The objective of this paper is to examine the role of the banking system in the growth of the Vietnamese economy in the process of the transition that started in the early 1990s. An ARDL approach-based multivariate regression technique is applied to shed light on the impact on the growth of banking development, which is measured by broad money and bank credit. The empirical findings confirm a positive long-term effect of banking development on growth, reflecting the important (...) role of the banking system in a typical bank-based financial system in mobilizing and supplying capital to the economy, thus contributing to growth throughout the process of economic transition. The empirical findings also indicate a nonlinear effect and a diminishing marginal effect of banking development in the sub-period 2007–2020. The thresholds for the two measures of banking development are estimated to be around 107% and 101% of the GDP, respectively. This finding suggests that bank credit expansion needs to be closely controlled to be adaptive to the capital-absorptive capacity of the economy. To a certain extent, this finding is also an indicator of the ongoing extensive growth model adopted in Vietnam, which relies heavily on the quantity of invested capital. (shrink)

Purpose ‐ The purpose of this paper is to explore the "resource curse" problem as a counter-example of creative performance and innovation by examining reliance on capital and physical resources, showing the gap between expectations and ex-post actual performance that became clearer under conditions of economic turmoil. Design/methodology/approach ‐ The analysis uses logistic regressions with dichotomous response and predictor variables on structured tables of count data, representing firm performance as an outcome of capital resources, physical resources and innovation where appropriate. (...) Findings ‐ Key findings relevant to economic and business practice follow. First, a typical characteristic of successful Vietnamese firms in the transition period is their reliance on either capital resources or physical asset endowments. Second, poor performers exhibit evidence of over-reliance on both capital and physical assets. Third, firms that relied on both types of resources tended to downplay creative performance. Some evidence suggests that firms face more acute problem caused by the law of diminishing returns in troubled times. Fourth, the "innovation factor" has not been tapped as a source of economic growth. Research limitations/implications ‐ This study has some limitations. The size of the survey sample is approximately 150 firms, while the potential sample of > 300 should be possible in the future. When the size increases, the research could be expanded to include further variables that will help investigate more deeply into the related issues and business implications. With regard to the implications of the study, the absence of innovations has made the notion of "resource curse" identical to "destructive creation" implemented by ex-ante resource-rich firms, and worsened the problem of resource misallocation in transition turmoil. The Vietnamese corporate sector's addiction to resources may contribute to economic deterioration, through a downward spiral of lower efficiency leading to consumption of more resources. Practical implications ‐ Insights obtained from this study could save transition economies' resources which have almost always been considered sine qua non before any critical major policymaking, while this is not necessarily true, and in many cases, even counterproductive. Originality/value ‐ Original data set on Vietnam stock market are collected, processed, prepared and used by the authors. Original design by the authors for regression equations with dichotomous predictor variables: dependence on endowed physical assets, reliance on capital resources and significant signs of creative performance/innovations. Original idea of viewing "resource curse" as absence of innovation and due to uncreative "destructive creation" of poor-performing commercial operations by resource-rich firms is used in the paper. We have searched the literature in business research and found that the empirical results have not been previously reported. (shrink)

Throughout 2012 and the first quarter of 2013, Vietnamese households and businesspeople lived in uncertainty and fears about the nation’s falling economic performance.

‘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)

The relationship between Vietnam and China could be captured in the Chinese expression of “同床异梦”, which means lying on the same bed but having different dreams. The two countries share certain cultural and political similarities but also diverge vastly in their national interests. This paper adds to the extant literature on this topic by analyzing the element of trust/mistrust in their interactions in trade-investment, tourism, and defense-security. The analysis shows how the relationship is increasingly interdependent but is equally fragile due (...) to the lack of trust on both sides. The mistrust or even distrust of Chinese subjects run deep within the Vietnamese mindset, from the skepticism of Chinese investment, Chinese tourists, discrimination against ethnic Chinese, to the caution against Chinese aggression in the South China Sea. The paper forecasts that, despite the deep-seated differences and occasional mistrust, going forward, neither side would risk damaging the status quo even when tensions peak. (shrink)

Group process methods for problem solving and planning are now widely used in organizations in the United States. Such methods, which involve active participation by employees, are not often used in Russia. We believe these methods would help Russia move from a centrally planned, authoritarian style of management to a more participatory, information-sharing style of management. Accordingly, two training sessions were held with faculty members at universities in Irkutsk and Novosibirsk. This article describes how these meetings were arranged, the results (...) of the planning activities, and the implications of participatory methods of decision making for organizations in Russia and in other transitional economies. (shrink)

This paper is the first major and a thorough study on the Merger & Acquisition (M&A) activities in Vietnam’s emerging market economy, covering almost entirely the M&A history after the launch of Doi Moi. The surge in these activities since mid-2000s by no means incidentally coincides with the jump in FDI and FPI inflows into the nation. M&A industry in Vietnam has its socio-cultural traits that could help explain economic happenings, with anomalies and transitional characteristics, far better than even (...) the most complete set of empirical data. Proceeds from the sales of existing assets and firms have mainly flowed into the highly speculative industries of securities, banking, non-bank financials, portfolio investments and real estates. The impact of M&A on Vietnam’s long-term prosperity is thus highly questionable. An observable high degree of volatility in the M&A processes would likely blow out the high ex ante expectations by many speculators, when ex post realizations finally arrive. The effect of the past M&A evolution in Vietnam has been indecisively positive or negative, with significant presence of rent-seeking and likelihood of causing destructive entrepreneurship. From a socio-economic and cultural view, the degree of positive impacts may result in domestic entrepreneurship which will perhaps be the single most important indicator. (shrink)

The transition economy of Vietnam enjoyed remarkable achievements in the first 20 years of economic renovation (Doi Moi) from 1986 to 2006. Notably, the economy grew at an average annual rate of 7.5% in 1991-2000 period. Vietnam’s Amended Constitution 1992 recognized the role of private sector in the economy. U.S.-Vietnam Trade Bilateral Agreement (US-BTA) was signed in 2001. The country's stock market made debut trading in 2000. Vietnam became a member of Association of Southeast Asian Nations (...) (ASEAN) in 1995, then proceeded to full membership of the World Trade Organization in 2007, following which registered foreign direct investment (FDI) reached an all-time high of US$71.7 billion in 2008. Together with the impressive economic achievements, Vietnam also saw its diplomatic and political status constantly improved in the international arena. The country has established diplomatic relations with more than 170 countries in the world, strategic partnerships with 12 important economies, both developed and emerging, namely China, Japan, Russia, India, England, France, North Korea, Italy, Germany, Indonesia, Malaysia and Thailand. The country also successfully hosted important events including the Asia Pacific Economic Cooperation (APEC) in 2006. (shrink)

The Vietnam currently reforming its economy by restructuring public investment, public enterprises and the banking sector. On the other hand, the Vietnamese economy has several challenges, in particular because of its high public debt. Also, the two goals of GDP growth and inflation control are often not mutually supportive.

This thesis consists of three papers examining determinants and implications of related party transactions (RPTs) in Vietnam, a transitional economy in South East Asia with features of concentrated state ownership and weak minority investor protection. Specifically, these papers describe RPTs and examine (i) the association between RPTs and state ownership, (ii) the association between the cost of corporate debt and RPTs, and the moderating role of state ownership on the association between the cost of debt and RPTs, and (iii) (...) the association between corporate tax avoidance and RPTs, and the moderating role of state ownership on this potential association. The first paper describes the nature and extent of RPTs in Vietnamese listed firms and examines the association between RPTs and state ownership. The results from this paper demonstrate that related party transactions are prevalent in Vietnam. Findings show that the presence of state ownership is related to a lower extent of RPTs. However, among firms with state ownership, the extent of RPTs is positively associated with percentage of state ownership. The second paper reveals that the cost of debt is higher in firms having a higher level of RPTs, implying that RPTs are viewed as a potential risk to firms from the point of view of lenders. However, the presence of state ownership can reduce the effect of RPTs on the cost of debt. The third paper provides evidence that firms with RPTs demonstrate more tax avoidance than their counterparts without RPTs. Further, among firms with RPTs, firms with a higher extent of related net credit and related sales are found to exhibit even higher levels of tax avoidance. However, the association between tax avoidance and RPTs is moderated by the presence of state ownership. Finally, in firms with RPTs, the presence of state ownership reduces tax avoidance measured by effective tax rates. (shrink)

In this paper, we criticize the current focus of the bio-based economy (BBE) on efficiency and control and demonstrate the contradictions that this causes. We elucidate these tensions by comparing the BBE to alternative conceptions of economy that emphasise the relevance of both the human condition and unfathomable nature in the macro ecological transition project. From Emmanuel Levinas’s philosophy, we take and extrapolate two major concepts—il y a and enjoyment—that help to re-evaluate the status of both nature (...) and the human subject involved in environmental instability. From this analysis, we evaluate current economic practice in close relation to the deteriorating environment to contribute to a conception of an economy that is truly based on principles of the biosphere. We conclude that humankind and nature are notions that must be always considered in this encompassing and topical effort and explain how they have been fundamentally overlooked in current thought on the bio-based and circular economy. (shrink)

In this chapter, we will first argue that current practices in CBE are framed within the market or economic logic and miss the normative dimension of the call for circularity. The transition to the CBE requires a fundamental reflection on the role of economic actors in the social and ecological environment with significant consequences for their business practices. Second, we will argue that the transition to the CBE requires the acknowledgement of the normative and social dimensions of this (...) transition at the meso and macro levels, and the establishment of an environmental and social logic on the micro level of business practices. Third, we will argue that the concept of responsible innovation (RI) can help to articulate the normative and social dimensions of the transition to the CBE, and enables the operationalisation of the environmental and social logic at the micro level. In this respect, RI can be understood as a driver for the transition to the CBE. (shrink)

The main problem of how to transform a centrally planned market into a market economy has emerged as one of the most influential and challenging issues in modern times. Nowadays, post-Soviet republics and nations of Central and Eastern Europe are in a transformation process and seek to capture claimed efficiency and advantages of market mechanisms for their economies. This is a very complex issue, because a rapid transition from socialism to a market economy is an unprecedented phenomenon (...) and requires fundamental restructuring of a nation’s economic, political, social and legal institutions as well as its physical infrastructure. (shrink)

This paper examines entrepreneurship. We present insights from a highly influential paper. Here are the highlights from this paper: This paper introduces new results obtained from a statistical investigation into a 3071-observation data set collected from a Vietnamese nationwide entrepreneurship survey. From established relationships, such factors as preparedness, financial resources, and participation in social networks are confirmed to have significant effects on entrepreneurial decisions. Entrepreneurs, both financially constrained and unconstrained, who have a business plan tend to start their entrepreneurial (...) ventures earlier. Also, financial constraints have a profound impact on entrepreneurial decisions. When perceiving the likelihood of success to be high, an entrepreneur shows the tendency for prompt action on business ideas. But when seeing the risk of prolonging the waiting time to first revenue, a prospective entrepreneur would be more likely to wait for more favorable conditions despite the vagueness of “favorable.” Additionally, empirical computations indicate that there is a 41.3 % probability that an extant entrepreneur who is generating revenue sees a high chance of success. Past work and entrepreneurial experiences also have positive impacts on both the entrepreneurial decisions and perceived chance of success. For our overseas readers, we then present the insights from this paper in Spanish, French, Portuguese, and German. (shrink)

Ever since 1988, Vietnam has successfully diversified and multilateralised its relationships, whilst placing a strong degree of focus on integration into the international political economy. This multidirectional foreign policy is designed to contribute to a peaceful international environment and a stable domestic one in order to promote economic growth and build up the aggregate strength of the country. At the same time, it is designed to boost the country’s autonomy, protect its sovereignty and territorial integrity, as well as hedge (...) against potential threats. This multidirectional foreign policy has contributed significantly to the economic reformist agenda, formally initiated at the 1986 Sixth Party Congress, otherwise known as Doi Moi. Additionally, it has boosted Vietnam’s international profile and reversed the diplomatic isolation it faced as the Cold War came to a close. As such, multidirectionalism has become a fundamental aspect of the Doi Moi process. This thesis traces the learning process since multidirectionalism’s inception and argues that this learning process, along with the economic benefits reaped, have evolved into positive memories for the Vietnamese Communist Party. This means multidirectionalism continues to be reinforced and as a result, these memories shape Vietnam’s continued expansion of that policy. Additionally, this thesis also offers a conceptual definition to the term multidirectionalism as well as explores the mechanisms through which Vietnam implements this policy. (shrink)

Ever since 1988, Vietnam has successfully diversified and multilateralised its relationships, whilst placing a strong degree of focus on integration into the international political economy. This multidirectional foreign policy is designed to contribute to a peaceful international environment and a stable domestic one in order to promote economic growth and build up the aggregate strength of the country. At the same time, it is designed to boost the country’s autonomy, protect its sovereignty and territorial integrity, as well as hedge (...) against potential threats. This multidirectional foreign policy has contributed significantly to the economic reformist agenda, formally initiated at the 1986 Sixth Party Congress, otherwise known as Doi Moi. Additionally, it has boosted Vietnam’s international profile and reversed the diplomatic isolation it faced as the Cold War came to a close. As such, multidirectionalism has become a fundamental aspect of the Doi Moi process. This thesis traces the learning process since multidirectionalism’s inception and argues that this learning process, along with the economic benefits reaped, have evolved into positive memories for the Vietnamese Communist Party. This means multidirectionalism continues to be reinforced and as a result, these memories shape Vietnam’s continued expansion of that policy. Additionally, this thesis also offers a conceptual definition to the term multidirectionalism as well as explores the mechanisms through which Vietnam implements this policy. (shrink)

A work of Vietnamese art crossed a million-dollar mark in the international art market in early 2017. The event was reluctantly seen as a sign of maturity from the Vietnamese art amidst the many existing problems. Even though the Vietnamese media has discussed the issues enthusiastically, there is a lack of literature from the Vietnamese academics examining the subject, and even rarer in from the market perspective. This paper aims to contribute an insightful perspective on the (...) Vietnamese art market, and hesitantly the Vietnamese art as well, through the lens of fake, forgery and copy artworks. 35 cases of fake, forgery and copy paintings were found on the news and from the experts' wisdom. Through the examples, we argue that the Vietnamese art market is a temporary reaction to the immaturely rising of the Vietnamese art and the economy. Therefore, the art market is unable to function healthily unless the Vietnamese art and the economy developed. (shrink)

The state of national economies development varies and is characterized by many indicators. Economically developed countries are known as doubtless leaders that are in progress and form political stability, social and economics standards, scientific and technical progress and determine future priorities. It is worth mentioning that the progressive development of national economies in conditions of globalization can take place only in case of the increase of their intellectualization level, through saturation of people`s life, economic relations and production by brain activity, (...) knowledge, creativity, innovation, culture, ethical considering of the historical heritage. The main aim of the research is national economies intellectualization evaluating in globalization conditions. In order to gain this aim, the following tasks were defined: to identify existing indices of the national economies intellectualization level evaluation, develop the authors’ methodological approach to the national economies intellectualization level, determine the areas of measurement results application. While conducting the research, systematic approach, the methods of analysis, synthesis, grouping, abstracting, generalization, imaginary experiment and grounding were used. In the modern world, there are a large number of indicators which characterize differences in intellectual state of the national economy. When comparing the state of national economies intellectualization, the problems arise with different number of countries, duplication of indicators, disproportionate number of the components of indicators, various years of publication, etc. Therefore, to ensure comparability, we choose four general indicators – the index of human development, the global innovation index, the global competitiveness index and the knowledge economy index. Using these indices, we do the research and determine the state of national economies intellectualization in the world economy. According to the calculated results, as of 2013, we have divided 190 national economies by level of intellectualization into five groups: countries with the highest (30 countries), high (30 (countries), low (30 countries), the lowest (35 countries) and the countries with uncertain state of intellectualization (65 countries). The leaders in the state of intellectualization are Switzerland, Sweden, The Netherlands, Finland and the USA. The countries with the highest level of intellectualization serve as an example to all other countries of the world. These countries are characterized by developed market economy; a dominant position in the international economy, which allows actively engaging own and imported resources in the economic turnover; the shift of the center of gravity of economic activity into the services sector and the dominance of service economy; the greatest exhaustion of sources and factors of industrial development; advanced post-industrial development. The economic policy of the first group of countries has a decisive influence on the state and dynamics of the global economy, defining the main directions of its scientific and technological development and structural adjustment. The average index of the national economy intellectualization (AINEI), calculated by the authors, shows the place of each country in the world community as to their intellectual capital. Considering the continued deployment of R&D progress, the growing role of high-tech production and the complexity of social and economic relations, AINEI can serve as a reliable indicator of the macroeconomic environment intellectualization state. Therefore, the following organizations, bodies and individuals can use the comparative results of this study: the international organizations while developing international economic development programs; the state authorities of the countries in foreign and domestic policy forming; companies that create innovative and investment policy; migrants, tourists and persons who perform professional and transit activity for the formation of human potential and capital; scientists and teachers who develop mechanisms of intellectualization. (shrink)

For individual researchers and academics, research outputs are a crucial asset that enables public gaining of recognition and acknowledgments of their expertise. For institutions, industry sectors, and countries, scientific publications serve a more critical role, being a measure and an index that indicates scientific development and competitiveness. As a country that is transitioning to modernization and industrialization, Vietnam recognizes science and education as the driving force for its socio-economic development. The government has made sizeable efforts to enhance the research capacity (...) for research institutes and higher education establishments across the country. This involves introducing policies that prioritize research activities and elevating research funding and monitoring schemes to some certain levels. (shrink)

The nationwide economic reform in 1986 transformed Vietnam from a centrally planned economy to a socialist-oriented market economy. Entrepreneurs and entrepreneurial spirits within the populace are suggested to fuel the structural changes. Despite the importance of entrepreneurship in Vietnam’s economy, studies in Vietnam mainly pay attention to the practical aspects of entrepreneurial activities and neglect the cognitive and theoretical aspects of entrepreneurship. Thus, the current study employs the information-processing perspective of the Mindsponge Theory to explore how entrepreneurs’ (...) knowledge accumulation can affect their perceived likelihood of business success. Bayesian analysis indicates that business-related experience positively affects entrepreneurs’ business success likelihood. Greater willingness/readiness to transform thinking, acting, and beliefs can improve the business success of entrepreneurs who study others’ failures carefully. However, for entrepreneurs who perceive learning from others’ failures as unnecessary, higher willingness/readiness to transform diminishes their chance of success. Based on these findings, we recommend Vietnamese entrepreneurs accumulate knowledge through experience, learning, and an open mind for better decision-making and innovation creation capabilities. However, the learning process should be selective. (shrink)

Over the past three decades, Vietnam has transitioned from an agrarian-based, centrally planned economy to a mixed economy with emerging market status. Additionally, projections indicate that Vietnam will be one of the world’s largest economies by 2050 if growth is sustained at present rates. The evolution of the financial sector, which began with the Doi Moi reforms in the mid-1980s, has been central to facilitating this growth. As the economy has expanded, Vietnam has maintained a gradualist approach (...) to developing market-based mechanisms of resource allocation. However, financial markets are still in an embryonic stage and substantial reform is required if the economy is to meet the expected rates of development. Against this backdrop, this dissertation critically evaluates trends and dynamics in Vietnam’s journey of financial development over the past three decades, with a particular emphasis on the experiences of small and medium-sized enterprises (SMEs). Drawing on quantitative analysis, secondary data and interviews conducted with a range of firms and stakeholders, I argue that financial development in Vietnam has had positive effects in terms of increasing access to funding for SMEs. As the financial system has developed, allocative efficiency has improved to the benefit of SMEs. However, some informants criticised the progress made to date, arguing that a funding mismatch still exists. Specifically, weak corporate governance, state-owned enterprises and a lack of derivatives have prevented effective capital market development. Given Vietnam’s high level of political corruption, this paper concludes that policy makers must place more attention on the political-economic structures of Vietnam if achieving middle-income status is to occur. Specifically, a tighter and more controlled effort to dismantle corporate bureaucracy and nepotism would allow better access to funding for Vietnamese SMEs. (shrink)

Background. Small and medium enterprises play an important role in economies, including Vietnam’s. The need for information systems is now necessary in every enterprise. Most of published studies on information systems have been conducted in developed countries, with little in developing or less developed countries. From those few, there was no one focusing in Vietnam. Aims. This thesis examines the experiences of seven Vietnamese small and medium enterprises when they adopted information systems. The authors investigated the reasons for, the (...) process of, and the factors influencing information system adoption. Methods. The qualitative research method was used to answer research questions. Semi-structured interviews were used as the data collection tool to explore participants’ experiences. Content analysis of the interview transcripts was used to extract answers given during the semi-structured interviews and to identify new themes that emerged from the data. The participants’ experiences were compared to what has been reported in the existing literature. Results. The analysis resulted in important findings. It confirmed some reasons and factors found in the literature concerning information system adoption in Vietnamese small and medium enterprises. Despite some similarities, the authors found some differences, such as government role, concerning the information system adoption. (shrink)

In this paper, we carry out a critical analysis of the concept of technology in the current design of the bio-based economy (BBE). Looking at the current status of the BBE, we observe a dominant focus on technological innovation as the principal solution to climatic instability. We take a critical stance towards this “ecomodernist” worldview, addressing its fundamental assumptions, and ofer an underarticulated explanation as to why a successful transition toward a sustainable BBE—i.e. one that fully operates within (...) the Earth’s carrying capacity—has not yet been reached. Bernard Stiegler has developed a philosophical perspective on the concept of economy, broadening it to include the human condition through the notion of desire. This theory can help to obtain a more profound understanding of why ecomodernist strategies are dominant today. Stiegler’s theory of the libidinal economy ofers an analysis of controlled and exploited human desire as a primary driver behind modern techno-economic structures. Our hypothesis is that a critique of contemporary technofxism as a critique of libidinal economy is a necessary step to take in the discussion around the BBE as a concept, if the BBE is ever to bring about a system that can truly operate within the Earth’s carrying capacity. (shrink)

This research, aims to develop a conceptual framework to assess the entrepreneurial properties of the Vietnamese reform, known as Doi Moi, even before the kickoff of Doi Moi policy itself. The authors argue that unlike many other scholars’ assertion, economic crisis and harsh realities were neither necessary nor sufficient conditions for the reform to take place, but the entrepreneurial elements and undertaking were, at least for the case of Vietnam’s reform. Entrepreneurial process, on the one hand, sought structural changes (...) and kicked off innovation, and on the other hand, its induced outcome further invited changes and associated opportunities. The paper also concludes that an assessment of possibility for the next stage of Doi Moi should take into account the entrepreneurial factors of the economy and predict the emergence of new entrepreneurial facets in the next phase of economic development. (shrink)

This study has proven that the economic system is determined by various components, in particular, it includes the real sector of the economy, which is formed on mega-, macro, meso-, micro-and nano-levels. In addition, it was proved that the nano-level is determined by the activities of individuals whose economic activity begins with the birth and attitude of parents, attending various educational and upbringing institutions, and studying at university. A separate segment of the nano-level of the economic system is the (...) baby industry responsible for the production of goods and services for children and future parents. All these aspects are indicators of the development of the baby economy. Such an economic category as the baby economy was separated and defined. The study uses the following methods: analysis, synthesis, structural analysis, systemic approach, observation, comparison, multifactor regression. These methods made it possible to achieve the results, which involve isolation of the baby economy as a component of nanoeconomy and definition of such components of the baby economic segment of nanoeconomy as a family or household economy, the baby industry, the economy of the educational process and upbringing. For this purpose, the value-institutional approach was applied. In addition, multifactorial analysis of the impact of indicators of the baby economy development on the population of a country with a transitive economy with incomes below the subsistence minimum was performed. This analysis identified a direct but minor relationship between these phenomena, which demonstrates the need to intensify and create a policy for the baby economy in similar states. The theoretical significance of the obtained results is determined by the introduction of a new economic category of "the baby economy" for the formation of a nano economic component within socio-economic systems. (shrink)

This article explores the transition experience of Croatia from 1990 to the present, with emphasis on social attitudes towards the free-market system and how the legacy of communism has influenced people’s expectations of and views towards the economy. The anthropological position of man as homo economicus is of central importance, if one is to properly understand the forces at work in a transition society like Croatia. This position also has far-ranging implications for ethics and morality, as well (...) as for the general culture. Assisted by the insights of Catholic social teaching, in particular Pope Benedict XVI’s Caritas in Veritate, the article concludes with possible lessons from the failure of communism and the challenges of transition. (shrink)

2019 was a year when the sharing economy and collaborative consumption was starting to make a significant impact on Norwegian society and way of life. With international hospitality and mobility services leading the way, several home-grown digital platforms also saw noticeable growth in users and income. New legislation was put in place to support an orderly transition to an economy that makes better use of idle resources. While the COVID-19 pandemic of 2020 has dealt a major temporary (...) setback to this development, this chapter documents how the Norwegian economy was experiencing rapid change that may soon return. (shrink)

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

In the 1990s, a debate raged across the whole postsocialist world as well as in Western development agencies such as the World Bank about the best approach to the transition from various forms of socialism or communism to a market economy and political democracy. One of the most hotly contested topics was the question of the workplace being organized based on workplace democracy (e.g., various forms of worker ownership) or based on the conventional employer-employee relationship. Well before 1989, (...) many of the socialist countries had started experimenting with various forms of "self-management" operating in more of a market setting, Yugoslavia being the most developed example. Thus one "path to the market" would .. (shrink)

In the 1990s , a debate raged across the whole postsocialist world as well as in Western development agencies such as the World Bank about the best approach to the transition from various forms of socialism or communism to a market economy and political democracy. One of the most hotly contested topics was the question of the workplace being organized based on workplace democracy (e.g., various forms of worker ownership) or based on the conventional employer-employee relationship. Well before (...) 1989, many of the socialist countries had started experimenting with various forms of "self-management" operating in more of a market setting, Yugoslavia being the most developed example. Thus one "path to the market" would have been to push those experiments all the way to some Western form of employee ownership or worker cooperatives operating in a full market environment. Alternatively, all these decentralizing experiments could be condemned as "vestiges of communism" to be eradicated by renationalizing all the decentralized firms and then privatizing by some alternative means. (shrink)

The thesis examines political and economic transitions in Sub-Saharan Africa (SSA) and particularly in post-communist Ethiopia and Angola between 1989-2019 by applying the interpretative scheme of transition theory. The research question investigated how the economic liberalization of centrally planned political systems affects their political liberalization and vice versa. The main hypothesis attempted to answer whether transition theory can apply as an interpretative model in order to explain post-communist developments in the SSA context. Characteristic noteworthy country examples, which have (...) experienced communism for an extended period and are now under a hybrid developmental state form - with their impressive economic development being driven mainly by the state - are Ethiopia and Angola. Ethiopia and Angola belonged among the fastest-growing economies in the world among China, India and East Asian countries with astonishing high growth rates for extended periods. In turn, their political transition presented signs of liberalization. Yet, they seem to follow the stagnated path of developmental states and hybrid regimes. Ιn order to examine the political and socio-economic parameters of these transformations, the methodology uses also a combination of qualitative and quantitative research data through a twofold comparative approach. From the political perspective two similar political systems are compared. From the economic perspective, we compare a non-resource-rich economy such as Ethiopia with a resource-rich economy such as Angola. The degree of influence of socio-economic interventions by major external actors such as China, US and the EU to democratic consolidation, and vice versa, is examined as well as the repercussions of radical and gradual reforms. The findings of the study suggest that rapid economic transitions along with gradual political reforms in Ethiopia, Angola - and broadly in SSA - inevitably cause delays in socio-economic developments such as employment, inclusiveness and poverty alleviation. Structural external transition drivers in SSA such as debt, structural adjustment programs, subsidies, humanitarian aid and trade deficits seem to hamper its economic transitions than to facilitate its progress and non-dependency. These drivers lead to a vicious circle in most of the empirical examples of SSA. The strong hybrid developmental states of Ethiopia and Angola – despite their democratic progress - present more similarities to the developmental states of China or rest East Asia than to the Central Eastern European countries. In a certain degree, there are similarities also with cases of the Commonwealth of Independent States (CIS), which are still under Russia’s significant influence. The most context-specific parameters though, which concern Sub-Saharan Africa and diversify the states of Ethiopia and Angola from the existing interpretative scheme of transition theory are their high ethnic diversity and economic dependence from their external partners as well as their sui generis leadership. These parameters pose significant constraints to the diverse ethnic groups in their struggle for power and for their access to the natural resources. (shrink)

In the unfolding debate on the prospects, challenges and viability of the imminent transition towards a ‘Bio-Based Society’ or ‘Bio-based Economy’—i.e. the replacement of fossil fuels by biomass as a basic resource for the production of energy, materials and food, ‘big’ concepts tend to play an important role, such as, for instance, ‘sustainability’, ‘global justice’ and ‘naturalness’. The latter concept is, perhaps, the most challenging and intriguing one. In public debates concerning biotechnological interactions with the natural environment, the (...) use of terms such as ‘nature’ and ‘naturalness’ is both inevitable and hazardous . Indeed, various conflicting interpretations of naturalness play a role on both sides of the current debate. This paper aims to analyse and critically assess the role of ‘nature-speak’ in the BBS transition. We will begin with a concise overview of the vicissitudes of the nature-concept so far, focussing on how modern science and technology have challenged and affected our understanding of what nature is. Subsequently, we describe how ‘naturalness’ functions in the unfolding BBS debate. Finally, we will focus on a particular case study, namely the production of rubber with the help of natural latex coming from dandelion plants rather than from rubber trees. On the one hand, this is presented as a more natural and nature-friendly way of producing rubber. On the other hand, it is a sophisticated process, involving high technology and primarily focussed on competitiveness on the global market. To what extent or in what sense can dandelion latex be regarded as more natural? And what can we learn from this case study when it comes to addressing naturalness in the broader conceptual and bio-political arena? (shrink)

As a generation of ‘digital natives,’ secondary students who were born from 2002 to 2010 have various approaches to acquiring digital knowledge. Digital literacy and resilience are crucial for them to navigate the digital world as much as the real world; however, these remain under-researched subjects, especially in developing countries. In Vietnam, the education system has put considerable effort into teaching students these skills to promote quality education as part of the United Nations-defined Sustainable Development Goal 4 (SDG4). This issue (...) has proven especially salient amid the COVID−19 pandemic lockdowns, which had obliged most schools to switch to online forms of teaching. This study, which utilizes a dataset of 1061 Vietnamese students taken from the United Nations Educational, Scientific, and Cultural Organization (UNESCO)’s “Digital Kids Asia Pacific (DKAP)” project, employs Bayesian statistics to explore the relationship between the students’ background and their digital abilities. Results show that economic status and parents’ level of education are positively correlated with digital literacy. Students from urban schools have only a slightly higher level of digital literacy than their rural counterparts, suggesting that school location may not be a defining explanatory element in the variation of digital literacy and resilience among Vietnamese students. Students’ digital literacy and, especially resilience, also have associations with their gender. Moreover, as students are digitally literate, they are more likely to be digitally resilient. Following SDG4, i.e., Quality Education, it is advisable for schools, and especially parents, to seriously invest in creating a safe, educational environment to enhance digital literacy among students. (shrink)

This collection of papers builds on the idea that the bioeconomy provides a framework for potentially effective solutions addressing the grand global challenges by a turn towards an increased use of biological resources, towards renewability and circularity. Consequently, it cannot be perceived as an end in itself. Thus, innovative endeavors within this bioeconomy framework require a serious examination of their normative premises and implications. From different perspectives, the five contributions to the collection demonstrate that for a bioeconomy that is to (...) contribute to the transformation towards sustainability, inquiries into norms, values, and paradigms of innovators and other stakeholders are indispensable. Originating in the spirit of an interdisciplinary workshop on the "The Normative Dimension of Transformations towards a Sustainable Bioeconomy", the collection at hand provides an attempt to facilitate an increased commitment of social sciences into bioeconomy discourses. We learn: the bioeconomy is on the rise as it is, but whether it will guide us the way towards an equitable, environmentally sound, and future-proof economy, heavily depends on the normative guardrails imposed by science, society, and business. Recent discussions have shown that the pressing problems and complex challenges humanity is currently facing cannot be adequately tackled by approaches that. (shrink)

This study examines playgrounds as lenses on urban transitions to explain the link between urban transformations and changes in the discourse of play and childhood. Specifically, it compares Soviet public playgrounds and post-Soviet privatized playscapes in the city of Yekaterinburg, Russia, through primary observation and secondary data analysis. Using the framework of social reproduction developed by Cindy Katz and Saskia Sassen to explain how the local forces affect cities, my analysis shows that the shift in the discourse of play and (...) childhood in the post-Soviet period is hinged on global influences combined with local transformations, from the abandonment of Soviet ideals of communal play spaces to the embracement of today’s consumerist play places. Whereas the old Soviet playgrounds have uncertain purposes, in contemporary Yekaterinburg private playgrounds offer a narrative of play in terms of leisure, love, and convenience for parents. Children turn into consumers of private play, leaving most of the Soviet playgrounds as idle spaces in the city. This article argues that Yekaterinburg’s shift toward participating in the globalized economy combined with its transition from the Soviet ideals maintains social relations and reproduces social inequalities in childhood, as this condition favors consumerist narratives of play. I conclude that the playgrounds in Yekaterinburg are bystanders of new global ecologies whereby social, political, and economic transformations become an impetus to reproduce new ways of seeing the social importance and meaning of play and playgrounds. (shrink)

Lévinas is the philosopher of the absolutely Other, the thinker of the primacy of the ethical relation, the poet of the face. Against the formalism of Kantian subjectivity, the totality of the Hegelian system, the monism of Husserlian phenomenology and the instrumentalism of Heideggerian ontology, Lévinas develops a phenomenological account of the ethical relation grounded in the idea of infinity, an idea which is concretely produced in the experience with the absolutely other, particularly, in their face. The face of the (...) other, irreducible to any ontological structure of being or any epistemological intentionality of representation, reaches out from on high across the abyss of the isolated ego, commanding respect all the while granting the possibility of murder. This experience overflows the subjective capacity of the separated ego, forcing it “beyond being.” This anarchic relation with the Other is the groundless condition of possibility for ethical life, that is, truly human life. The structure of the ethical relation can then be determined in hindsight as the ground of meaning for what it is to be an I at all. -/- This is a pretty uncontroversial reading of Lévinas' work, especially Totality and Infinity. And yet, there is one small problem. If this is what Lévinas is doing, then why does the largest section of Totality and Infinity – section II, “Interiority and Economy” – have nothing to do with ethics, the other, or the face at all? Why is it devoted to an arduous analysis of what he calls separation, egoism, economy, enjoyment, labour, and possession? In other words, why does Lévinas spend so much energy on writing about the egoist at the heart of his magnum opus, which is supposedly a text devoted to the Other? And furthermore, why is this section one of the least discussed in the secondary literature on Lévinas? -/- These questions motivate the present inquiry, which modestly seeks to understand what Lévinas is up to in this section. Once laying out the basic story, I will focus on the concepts of labour and possession, for I think these are the unrecognized pivots upon which the transition from ego to Other turns. I will also make some slight attempts to interpret Lévinas' direct or indirect comments on Plato, Kant, Hegel, Husserl and Heidegger. For although he distances himself from these giants, he stands on their shoulders as well. (shrink)

The services sector strategic development unites a multitude of economic and managerial aspects and is one of the most important problems of economic management. Many researches devoted to this industry study are available. Most of them are performed in the traditional aspect of the voluminous calendar approach to strategic management, characteristic of the national scientific school. Such an approach seems archaic, forming false strategic benchmarks. The services sector is of special scientific interest in this context due to the fact that (...) the social production structure to the services development model attraction in many countries suggests transition to postindustrial economy type where the services sector is a system-supporting sector of the economy. Actively influencing the economy, the services sector in the developed countries dominates in the GDP formation, primary capital accumulation, labor, households final consumption and, finally, citizens comfort of living. However, a clear understanding of the services sector as a hyper-sector permeating all spheres of human activity has not yet been fully developed, although interest in this issue continues to grow among many authors. Target of strategic management of the industry development setting requires substantive content and the services sector target value assessment. (shrink)

Development of the world economy bears numerous negative phenomena, and require constant need to rebalance socioeconomic interests of nations, transnational subjects, and individuals. Socialisation is an important and effective tool for balancing social and individual; however, despite socialisation is evolving rapidly, its scientific and practical potential is not duly uncovered. In the article theoretical and methodological foundations of socialisation of economy is surveyed in the context of globalisation, and etymology, explanations, scope, historical phases of development, theoretical aspects and (...) practical forms of use, consequences and prospects are analysed. The term «socialisation» was determined as a multidisciplinary, used in many scientific fields, increasingly involving various areas of research and is understood as inclusion, adaptation and development of human being in society. It was determined that the economy socialisation is implemented in different fields and semantic structures, contains a large number of methodological tools, is involved at all management levels, and is primarily identified with the increasing role of social component in the life of human resources. The assumptions were made about the future transformation of this category in line with the identified predictive trends. (shrink)

This chapter proposes the concept of the mindsponge and its underlying themes that explain why and how executives, managers, and corporations could replace waning values in their mindsets with those absorbed during their exposure to multicultural and global settings. It first provides a brief literature review on global mindset and cultural values, which suggests that not only can a mindset be improved, but that it is learning mechanism can also be developed. Then the chapter offers a conceptual framework, called the (...) 'mindsponge', which builds upon earlier works linking mindset to themes of multi-filtering. The process is proposed to help identify emerging values in the transition economy of Vietnam and also to reconfirm existing core values. The concept of mindsponge provides executives, managers, and organizations with not only a practical framework for improving their global mind-set by identifying and strengthening core values, but also capturing emerging opportunities. (shrink)

This study focuses in testing the power of reciprocity and leadership as collective action incentive structures and cooperation economic benefits in explaining collective action initiation in the context of a post-communist transition economy. The paper is based on a structured survey targeting Albanian export-oriented farmers. Different from most previous studies, this paper uses both regression analysis and machine learning procedure which is better suited for analysing non-linear relationships. The empirical findings are at odds with common sense that non-cooperation (...) is the dominant strategy, because the presence of tolerant reciprocators and leadership resources provide promising incentive structures for collective action development. KEYWORDS: Albania, collective action, collective action benefits, incentive structures, leadership, power, reciprocity. (shrink)

This short conference paper serves as a distillation of a keynote address delivered at the the Second National Conference on Management and Higher Education Trends & Strategies for Management & Administration hosted by Bangkok-based Stamford International University (Thailand) on November 1, 2014. Innovation is discussed as the heart of entrepreneurial processes occurring in today's capitalist economic systems, including transition economies like China and Vietnam, which underscores economic competitiveness of firms and economies. But the innovation effort and process also face (...) dilemma of "entrepreneurial curse of innovation". Advantages and disadvantages are weighed for a more balanced view, especially in the context of outnumbering SMEs and given existence of pitfalls and traps along the innovation path of development. Toward the end, the value of the market is once again stressed amid the concern of subjective assumption and illusion about availability of market opportunities in the mind of innovators, which may contrast totally with the dismal outcome the actual market realities may show ex post. (shrink)

Two blocks from the new Rolls-Royce showroom with its mindboggling prices, two street peddlers say they don’t pay attention to the luxurious rides now mixing amid hordes of motorbikes. Why should they?

United Nations’ Sustainable Development Goals 4 Quality Education has highlighted major challenges for all nations to ensure inclusive and equitable quality access to education, facilities for children, and young adults. The SDG4 is even more important for developing nations as receiving proper education or vocational training, especially in science and technology, means a foundational step in improving other aspects of their citizens’ lives. However, the extant scientific literature about STEM education still lacks focus on developing countries, even more so in (...) the rural area. Using a dataset of 4967 observations of junior high school students from a rural area in a transition economy, the article employs the Bayesian approach to identify the interaction between gender, socioeconomic status, and students’ STEM academic achievements. The results report gender has little association with STEM academic achievements; however, female students (αa_Sex[2] = 2.83) appear to have achieved better results than their male counterparts (αa_Sex[1] = 2.68). Families with better economic status, parents with a high level of education (βb(EduMot) = 0.07), or non-manual jobs (αa_SexPJ[4] = 3.25) are found to be correlated with better study results. On the contrary, students with zero (βb(OnlyChi) = -0.14) or more than two siblings (βb(NumberofChi) = -0.01) are correlated with lower study results compared to those with only one sibling. These results imply the importance of providing women with opportunities for better education. Policymakers should also consider maintaining family size so the parents can provide their resources to each child equally. (shrink)

The resources and resource potential of the innovative component of nanoeconomics are analyzed. The factors of production – classical types of resources such as land, labor, capital and technology – are described. Ways of influencing the security resources of nanoeconomics within the innovation paradigm are evaluated. The purpose of the study is to identify the factor of nanoeconomics in the formation of resource security potential in the innovation paradigm. To achieve this goal, the following tasks were set: to characterize the (...) importance of the land resource as a factor in the potential of economic nanosystems; to highlight the importance of capital as a factor of nanoproduction and an indicator of the innovation paradigm; to determine the labor resource in the development of innovative nanosystems; to analyze the intellectual potential of nanoeconomic development of the innovation paradigm; to identify clusters of innovative nanopotential in the regions of countries with transition economies. Each resource is examined separately with the first analysis of a resource security assessment such as land. The other resource under consideration is labor. Demographic factors become decisive in describing the development of labor resources. The capital factor allows the formation of independent economic systems, when the state budget affects the possibility of developing science, education and health care. A number of methods were applied during the study: methods of induction and deduction (to assess the importance of the innovation paradigm for the development of nanoeconomics); system analysis and structural approach (to determine the aggregate state of production factors); method of comparing the quality of production factors in market economies and in developed countries; an observation method (for assessing the state of resources in different countries); method of cluster analysis (to determine the existence of innovation-territorial regions in countries with economies in transition). The analysis is carried out to identify the conditions of the impact of production factors on the innovative paradigm of nanoeconomics. It reveals theoretical approaches to the formation of nanoeconomics and its active development. As a result of the study of intellectual and resource potential of security, a cluster analysis was carried out to assess the conditions for the formation of innovation-territorial regions. This study allows to understand the role of production security factors in the formation of the innovation paradigm and the efficiency of the development of nanoeconomics. The way of providing the basis for the development of nanoeconomics in the form of efficient use of production factors is considered as a perspective. (shrink)

Farmers’ organizations all over the world are very well aware that in order to build and retain a critical mass with sufficient bargaining power to democratically influence local governments and international organizations they will have to unite by identifying common goals and setting aside their differences. After decades of local movements and struggles, farmers’ organizations around the globe found in the concept of “food sovereignty” the normative framework they were long searching for. The broadness of the concept has had a (...) remarkable success in embracing the interests of food producers and consumers from all geographic locations and development levels. (shrink)

In this contribution, we argue that three related developments provide economic, environmental and social challenges and opportunities for a new responsible professionalism in the food chain: the Anthropocene; the bio-based economy; Precision Livestock Farming. These three interrelated developments indicate a transition in the way we understand the role and function of the food chain on the micro-, the meso- and the macro-level. This transition can be understood in two fundamental different ways, namely either as an extension of (...) technocratic management beyond the micro level to the meso- and macro-level of the food chain, or as a transition to a new responsible professionalism. We argue that the technocratic approach is not able to address the socio-ethical issues that come along with these three development, and argue for a new responsible professionalism in the agri-food chain in the Anthropocene based on normative and action competence. (shrink)

Introduction. The book is a study in Adam Smith's system of ideas; its aim is to reconstruct the peculiar framework that Adam Smith’s work provided for the shaping of a semi-autonomous new discipline, political economy; the approach adopted lies somewhere in-between the history of ideas and the history of economic analysis. My two claims are: i) The Wealth of Nations has a twofold structure, including a `natural history' of opulence and an `imaginary machine' of wealth. The imaginary machine is (...) a kind of Newtonian theory, whose connecting links are principles; provided either by `partial' characteristics of human nature or by analoga of physical mechanisms transferred to the social world; ii) a domain of the economic, understood as a self-standing social sub-system, was discovered first by Adam Smith. His `discovery' of the new continent of the economic was an `unintended result' of a deviation in his voyage to the never-found archipelago of natural jurisprudence. -/- 1. Imaginary machines and invisible chains: natural philosophy and method. The first chapter reconstructs Smith's views on the method in natural philosophy, presented primarily in the History of Astronomy (HA). The peculiar kind of semi-sceptical Newtonianism which permeates the essay is highlighted. Its reconstruction of the history of one natural science is shown to be based on the assumptions of Hume’s epistemology, and to lead to a self-aware deadlock. Smith's dilemma is between an essentialist realism and sceptical instrumentalism; the Cartesian presuppositions he shares with Hume and with the 18th century as a whole make it impossible for him to overcome his dilemma. The following chapters will show how, on the one hand, Smith's skeptical methodology encourages him in the enterprise to `carve off' a new self-contained discipline and how, on the other hand, his epistemological dilemma is reflected in the inner tensions of his moral and political theory as well as in a number of basic oscillations concerning the status of the new discipline. -/- 2. Chessboards and clocks: moral philosophy and method. -/- The second chapter reconstructs Smith's views on the method in the parallel field of moral philosophy, including the theory of moral sentiments and natural jurisprudence. I argue that The Theory of Moral Sentiments, when considered together with with the Lectures on Jurisprudence, where Smith's peculiar version of a `weaker' form of natural law is presented, wins special interest, not only for the history of ethics but even more for the history of political theory and the social sciences. The two most striking features of Smith's work in this area are highlighted. First, his effort at reformulating the `practical science' is a methodologically self-aware attempt at applying the Newtonian method to moral subjects. Secondly, this attempt ends in a stalemate as two distinguished kinds of normative order are introduced: one ultimate order of Reason, ultimately justifiable but inaccessible, and one weaker order of our `natural sentiments', to which we have empirical access, but which is so variable as to lack any ultimate value as a basis for grounding our normative claims. These two parallel conundrums may arguably account for the author's inability to publish during his lifetime both The History of Astronomy and the projected history and theory of law and government. -/- 3. Wheels, dams, and gravitation: the structure of scientific argument in The Wealth of Nations. -/- The third chapter provides the core of the book, dealing with the structure of the argument in WN. I argue that the main presupposition that makes the shift possible from a `natural history' to a `system' approach is the Newtonian contrast of `mathematical' with `physical' explanation; that is, Smith drops any discussion of the "original qualities" of human nature that could account for economic behaviour, while introducing, as `principles' for the system, a set of `hypothetical' statements of `observed' regularities in human behaviour and of `observed' super-individual self-regulating mechanisms. In bringing this presupposition to light, the coexistence of a teleological with a mechanistic approach is clarified; fresh light is shed on the notion of the invisible hand by a comparison of its occurrence in Smith with the occurrence of the same expression (until now overlooked) in the correspondence between Newton and Cotes. Finally, the peculiar semi-prescriptive and semi-descriptive character of political economy are highlighted, and the consistency of Smith's `impure' semi-prescriptive social science, when understood in his own terms, is defended against familiar charges with inconsistency and against even more familiar strained modernizations. -/- 4. Apples, deer, and frivolous trinkets: the construction of the economic. -/- The fourth chapter draws consequences from the third, examining how Smith's achievement in political economy, marking its transition to scientific status, carried a re-description of the phenomena, creating the comparatively independent and unified field of the economic. Smith's achievement is interpreted not as the `discovery' of an autonomous character already possessed by the economy out there, so much as a Gestalt-switch by which our perception of social phenomena is modified making us `see' the partial order of the economy as an isolated system. To sum up, the autonomy of the economic in social reality and the autonomy of the economic in social consciousness are shown to be two sides of one process. -/- 5. Concluding considerations: Political economy and the Enlightenment halved. -/- A few suggestions on the status of economic theory two centuries after The Wealth of Nations in its relationship to ‘practical philosophy’ are illustrated. (shrink)

Based on three recently published books on climate justice, this article reviews the field of climate ethics in light of developments of international climate politics. The central problem addressed is how idealised normative theories can be relevant to the political process of negotiating a just distribution of the costs and benefits of mitigating climate change. I distinguish three possible responses, that is, three kinds of non-ideal theories of climate justice: focused on (1) the injustice of some agents not doing their (...) part; (2) the policy process and aiming to be realistic; and (3) grievances related to the transition to a clean-energy economy. The methodological discussion underpinning each response is innovative and should be of interest more generally, even though it is still underdeveloped. The practical upshot, however, is unclear: even non-ideal climate justice may be too disconnected from the fast-moving and messy climate circus. (shrink)

(Third edition with additions) -/- This is a collection of short stories centering around the protagonist character, Kingfisher, originally written in Vietnamese by myself. -/- The book aims to introduce international readers to snippets of Vietnamese culture through the ordinary yet humorous life of the bird village. -/- The first 15 of these short stories were published in the Khoảng Lặng (Quiet Moment) column of the Vietnamese magazine Kinh Tế và Dự Báo (Economy and Forecast Review) (...) from 2017 to 2019. -/- However, this is the first time that the collection of all the Kingfisher stories has been published in its entirety, covering stories that have not been published elsewhere, including new stories written in 2023. -/- The stories of Kingfisher are full of humor and satire while also deep in social commentary. I hope that the book brings readers joy and some food for thought, for beyond satire is genuine contemplation of the humanistic values in our lives. -/- Hanoi, October 21, 2023 -/- Quan-Hoang Vuong -/- (Incld. Artworks by Bui Quang Khiem and Dam Thi Thu Ha). (shrink)