Real-world economies are open-ended dynamic systems consisting of heterogeneous interacting participants. Human participants are decision-makers who strategically take into account the past actions and potential future actions of other participants. All participants are forced to be locally constructive, meaning their actions at any given time must be based on their local states; and participant actions at any given time affect future local states. Taken together, these essential properties imply real-world economies are locally-constructive sequential games. This paper discusses a modeling approach, (...) Agent-based Computational Economics, that permits researchers to study economic systems from this point of view. ACE modeling principles and objectives are first concisely presented and explained. The remainder of the paper then highlights challenging issues and edgier explorations that ACE researchers are currently pursuing. (shrink)

New trends in the economic systems management in the context of modern global challenges: collective monograph / scientific edited by M. Bezpartochnyi, in 2 Vol. // VUZF University of Finance, Business and Entrepreneurship. – Sofia: VUZF Publishing House “St. Grigorii Bogoslov”, 2020. – Vol. 1. – 309 p.

The authors of the scientific monograph have come to the conclusion that ensuring sustainable development and security of economic systems in the new geostrategic realities requires the use of mechanisms for state protection of national economic interests, innovative outsourcing and digital technologies, and environmental protection. Basic research focuses on assessment the economic security of insurance companies, logistics processes, farms, healthcare organisations, retail and e-commerce, and tourist destinations. The research results have been implemented in the different decision-making models (...) in the new geostrategic realities, human resource management, environmental and international security, use of artificial intelligence, and city branding. The results of the study can be used in the developing policies, programmes and strategies for public-private partnerships, post-crisis recovery of Ukraine, and decision-making at the level of ministries and agencies that regulate the processes of managing sustainable development and security. The results can also be used by students and young scientists in the educational process and conducting scientific research on sustainable development and security of economic systems. (shrink)

Modern global economic challenges caused by the COVID-19 pandemic and various changes in the structure of the world market of goods and services require the developing of new models of economic systems management based on appropriate strategic management methodology, implementation innovation, use of prospects for various risks caused by the pandemic, implementation mechanisms for ensuring the security of economic systems. Ensuring effective management of economic systems in the current global challenges is impossible without the introduction of (...) a new concept of functioning and sustainable development of economic entities. To ensure effective management of economic systems in the context of modern global challenges it is necessary to determine the state of the economic process of entities and explore the impact of risks on current activities, justify and developing a system to overcome negative effects on economic activity and obtain a positive economic result. The effectiveness of developed conceptual provisions to ensure effective management of economic systems is determined by the ability of the management system to withstand the destructive effects of the external environment and due to the strengths to direct the resources of economic entities to maintain the economic process, able ensure to save resources and cover current costs economic entities, etc. (shrink)

One striking feature of the contemporary modelling practice is its interdisciplinary nature. The same equation forms, and mathematical and computational methods, are used across different disciplines, as well as within the same discipline. Are there, then, differences between intra- and interdisciplinary transfer, and can the comparison between the two provide more insight on the challenges of interdisciplinary theoretical work? We will study the development and various uses of the Ising model within physics, contrasting them to its applications to socio-economic (...) systems. While the renormalization group methods justify the transfer of the Ising model within physics – by ascribing them to the same universality class – its application to socio-economic phenomena has no such theoretical grounding. As a result, the insights gained by modelling socio-economic phenomena by the Ising model may remain limited. (shrink)

Rawls’s consideration not to include the choice of economic systems as part of a theory of justice is inconsistent with his comments on redistribution and the political effects of economic inequality. When Rawls’s discussion of economic systems and his discussion of economic inequalities is examined, it is apparent that the selection of economic systems is a pertinent topic for a theory of justice. The propensity for the primary social good of self-respect to be satisfied can (...) be affected by the selection of economic systems. Rawls has incorrectly determined the selection of economic systems to be unimportant if different economic systems can be more advantageous to the satisfaction of self-respect than others. When socialism and Rawls’s version of regulated capitalism are compared, socialism is a maximin solution, and accordingly will be selected by people within the original position under the veil of ignorance. (shrink)

The paper discusses the possibility of constructing economic models using the methodology of model construction in classical mechanics. At the same time, unlike the "econophysical" approach, the properties of economic models are derived without involvement of any equivalent physical properties, but with account of the types of symmetry existing in the economic system. It has been shown that at this approach practically all known mechanical variables have their "economic twins". The variational principle is formulated on (...) the basis of formal mathematical construction without involving the subjective factor common to the majority of models in economics. The dynamics of interaction of two companies has been studies in details, on the basis of which we can proceed to modeling of more complex and realistic economic systems. Prediction of the possibility of constructing economic theory on the basis of primary principles analogously to physics has been made. (shrink)

We propose an axiomatic approach to constructing the dynamics of systems, in which one the main elements 9e8 is the consciousness of a subject. The main axiom is the statements that the state of consciousness is completely determined by the results of measurements performed on it. In case of economic systems we propose to consider an offer of transaction as a fundamental measurement. Transactions with delayed choice, discussed in this paper, represent a logical generalization of incomplete transactions and allow (...) for a more rigorous approach to studying the properties of the algebra of economic measurements. Considering the behavior of an object as a sequence of actions and choices allows extending the obtained results to random systems, which include the subject's consciousness as one of its elements. The specifics, on which the description of fundamental measurements is based, allows easily transferring the formalism of Schwinger's theory of selective measurements (and the consequent quantum-mechanical formalism) to the economic and social systems. (shrink)

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

The entire world community, since 2019, affected by the global pandemic COVID-19. The pandemic caused by this virus, led not only to significant human losses worldwide, but also imposed significant restrictions on the socio-cultural life of the population and radically changed the trends of the global economy and the further functioning of socio-economic systems. Now, huge economic losses have been recorded, which affected almost all sectors of the national economy and the state in the short, medium and long (...) term. However, it is important to consider individual economic development forecasts and measures developed by the governments of the world’s leading countries to overcome the negative effects of the COVID-19 pandemic. This will allow to form a real vision of the possible course of economic processes that will directly affect the living standards of the population and the restoration of socio-economic systems. To further restore the socio-economic system it is necessary to developing modern strategies and forecasts to ensure the effective functioning of economic entities through innovation, digitalization, marketing and use of competitive advantages in the consumer markets in conditions of limited resources, development promising sectors of the national economy, etc. The purpose of writing this scientific monograph is to substantiate the theoretical and methodological foundations, the formation new strategies for restoring socio-economic systems and overcoming the negative consequences of the caused by the COVID-19 pandemic, taking into account changes and challenges in the modern world. The object of the authors’ research is the process of forming new approaches, strategies and mechanisms for managing socio-economic systems in the context of the COVID-19 pandemic, eliminating the negative consequences in the activities of economic entities. The subject of research is socio-economic, organizational and institutional processes of formation and effective implementation of approaches, strategies and mechanisms for managing socio-economic systems; stabilization of the functioning of economic entities; introduction of innovative processes and digital technologies; implementation of best practices in the managing of socio-economic systems using world experience in various sectors of the economy caused by the COVID-19 pandemic. (shrink)

The declaration of the COVID-19 pandemic by the World Health Organization on March 11, 2020, led to unprecedented events. All regions of the world participated in implementing preventive health measures such as physical distancing, travel restrictions, self-isolation, quarantines, and facility closures. The pandemic started global disruption of socio-economic systems, covering the postponement or cancellation of public events, supply shortages, schools and universities’ closure, evacuation of foreign citizens, a rise in unemployment and inflation, misinformation, the anti-vaccine movement, and incidents of (...) discrimination toward people affected by or suspected of having coronavirus disease. Attempts have been made to protect the oldest age group at risk, but in many cases, this has led to over-restriction and age discrimination. The rationale for working on the Research Topic "Socio-economic systems in the post-pandemic world: Design thinking, strategic planning, management, and public policy" was the need to start reflecting on resilience and lessons learned from this public health event that revealed the global unpreparedness in critical areas. Also, the pandemic triggered both top-down and bottom-up responses that needed more in-depth analyzes. This Research Topic covers interdisciplinary contributions addressing new thinking, challenges, and transformations required for post-pandemic global, national, regional, and local realities. The presented Research Topic combines studies focused on recognizing the actions and interventions leading to the recovery of socio-economic systems during the tail end and after the pandemic. The studies delivered recommendations regarding, among others, the care of vulnerable, planning socio-economic restart, and imagining the "new normal.". (shrink)

The authors of the scientific monograph have come to the conclusion that the management of socio-economic systems in the terms of global challenges requires the use of mechanisms to ensure security, optimise the use of resource potential, increase competitiveness, and provide state support to economic entities. Basic research focuses on assessment of economic entities in the terms of global challenges, analysis of the financial system, migration flows, logistics and product exports, territorial development. The research results have (...) been implemented in the different decision-making models in the context of global challenges, strategic planning, financial and food security, education management, information technology and innovation. The results of the study can be used in the developing of directions, programmes and strategies for sustainable development of economic entities and regions, increasing the competitiveness of products and services, decision-making at the level of ministries and agencies that regulate the processes of managing socio-economic systems. The results can also be used by students and young scientists in the educational process and conducting scientific research on the management of socio-economic systems in the terms of global challenges. (shrink)

The present paper discusses the problem of quantum-mechanical properties of a subject’s consciousness. The model of generalized economic measurements is used for the analysis. Two types of such measurements are analyzed – transactions and technologies. Algebraic ratios between the technology-type measurements allow making their analogy with slit experiments in physics. It has been shown that the description of results of such measurements is possible both in classical and in quantum formalism of calculation of probabilities. Thus, the quantum-mechanical formalism of (...) the description of states appears as a result of idealization of the selection mechanism in the proprietor's consciousness. (shrink)

On 11 March 2020, the World Health Organization declared a pandemic of the COVID-19 coronavirus disease that was first recognized in China in late 2019. Among the primary effects caused by the pandemic, there was the dissemination of health preventive measures such as physical distancing, travel restrictions, self-isolation, quarantines, and facility closures. This includes the global disruption of socio-economic systems including the postponement or cancellation of various public events (e.g., sporting, cultural, or religious), supply shortages and fears of the (...) same, schools and universities closure, evacuation of foreign citizens, a rise of unemployment, changes in the international aid schemes, misinformation, and incidents of discrimination toward people affected by or suspected of having the COVID-19 disease. The pandemic has brought to the fore unpreparedness in critical areas that require attention, amid prospects and challenges. Moreover, considerable reorganization efforts are required with implications for assets, resources, norms, and value systems. COVID-19 is challenging the concept of globalization and stimulating responses at the levels of local and regional socio-economic systems that lead to the mobilization of assets that have been unrecognized earlier on, such as various forms of economic capital, social capital, cultural capital, human capital, and creative capital. For example, through digital channels, local groups are forming to create schemes of support for physical and mental wellbeing. These emerging exchanges lead to various social and technological innovations by building on skills and assets that are less important in the free-market economy, such as empathy, skills for crafts, making and fixing; locally grown microgreens; and micromanufacturing. Isolation and local living are also making it much harder to ignore the civic responsibilities towards communities, meant as individuals, vulnerable groups, and local businesses. Whilst the pandemic is limiting physical participation, this challenging time is uncovering alternative ways of mutual support, which may create long-term benefits for socio-economic systems, including environmental and biodiversity protection, reduction of the air pollution, and climate action. The pandemic’s threat to public health will hopefully be overcome with implications for disruption for an extended period that we are unable to forecast at this stage. It is key to focus on studies recognizing the activities and interventions leading to the recovery of socio-economic systems after the pandemic. Reflecting and planning on how societies and economies will go back to “business as usual” requires new forms of communication and cooperation, imaginative design thinking, new styles of management, as well as new tools and forms of participation in various public policies. Many questions related to the care of the vulnerable, economic restart, and the risk of future pandemics, to mention but a few, are already occupying the academic, scientific, experts, and activist communities, who have started to imagine the “new normal.”. (shrink)

Holt argues that Rawls’s first principle of justice requires democratic control of the economy and that property owning democracy fails to satisfy this requirement; only liberal socialism is fully democratic. However, the notion of democratic control is ambiguous, and Holt has to choose between the weaker notion of democratic control that Rawls is committed to and the stronger notion that property owning democracy fails to satisfy. It may be that there is a tension between capitalism and democracy, so that only (...) liberal socialism can be fully democratic, but if so, we should reject, rather than argue from, the theory of democracy we find in justice as fairness. (shrink)

The results of the authors’ research in a scientific monograph are devoted to solving the problems of forming and improving new concepts and strategies for managing economic systems, and mechanisms for their implementation in the context of modern world challenges to society on the basis of models of managing economic entities. An important component of the scientific monograph is the formation of modern strategies for increasing the competitiveness of economic systems, improving corporate structures, innovative restructuring of enterprises, (...) ensuring environmental safety, approaches to implementing a supply chain logistics management system, making effective decisions in the forecasting system, developing e-commerce, implementation of information technologies in project financing, controlling, education system, etc. The research results presented in the scientific monograph reflect the theoretical and practical aspects of the implementation of organizational-economic mechanisms for managing economic systems in the context of modern world challenges, conditions of constantly changing market conditions and instability of markets for goods and services, preservation and optimization of the resource potential of economic entities, the introduction of modern innovative technologies and digitalization of economic activities. (shrink)

We need a few words on the economic system and structure of the country before the sea change brought about by French colonialists could be fully appreciated in terms of economic performance and social context. Generally speaking, until early Xth century, Vietnam–with many name variants adopted by various feudalist kings–had been most of the time under the Chinese domination, approximately 1053 years.

Kahneman's theory of two systems assumes that human decision making in Economy is based on two cognitive systems, one that is automatic, intuitive and mostly unconscious, and one that is reflexive, rational and fully conscious. The authors consider Kahneman’s approach incomplete and limited in accounting for the creativity of embodied agents grasping the opportunities afforded by physical and social environments. This limitation leads us to argue for the existence of a third system in decision making in Economy, the creative (...) intuition based on direct perception of affordances, addressing not only the dispositions and goals of agents but also the social and environmental responsibility of corporations and governments. The authors argue that the third decision-making system the authors propose implies a concept of intuition that is different from the type of association process discussed by Morewedge and Kahneman [2] and gives an example of the third system operation, the Bolsa Família in Brazil, and finding new options for the funding of similar programs. (shrink)

Economies are complicated systems encompassing micro behaviors, interaction patterns, and global regularities. Whether partial or general in scope, studies of economic systems must consider how to handle difficult real-world aspects such as asymmetric information, imperfect competition, strategic interaction, collective learning, and the possibility of multiple equilibria. Recent advances in analytical and computational tools are permitting new approaches to the quantitative study of these aspects. One such approach is Agent-based Computational Economics (ACE), the computational study of economic processes modeled (...) as dynamic systems of interacting agents. This chapter explores the potential advantages and disadvantages of ACE for the study of economic systems. General points are concretely illustrated using an ACE model of a two-sector decentralized market economy. Six issues are highlighted: Constructive understanding of production, pricing, and trade processes; the essential primacy of survival; strategic rivalry and market power; behavioral uncertainty and learning; the role of conventions and organizations; and the complex interactions among structural attributes, institutional arrangements, and behavioral dispositions. (shrink)

In Southeast Asian countries (SEA), road transport accounts for the main energy consumption and CO2 emission. Air pollution is a major concern in densely populated cities such as Bangkok, Manila, and Kuala Lumpur. The main objective of this paper is to give insights on trends of transport development, car ownership, and CO2 emissions in Southeast Asia. This study also attempts to review the successful transportation policies around the globe and to introduce the possible instruments that can help reduce air pollution (...) in Southeast Asian countries. Economic instruments to estimate the benefits of a cleaner environment due to new policies are introduced as well. The results of this research could help policy makers consider approaches that could internalize external costs of transportation and maximize the societal welfare. (shrink)

This paper is an original attempt to understand the foundations of economic reasoning. It endeavors to rigorously define the relationship between subjective interpretations and objective valuations of such interpretations in the context of theoretical economics. This analysis is substantially expanded through a dynamic approach, where the truth of a valuation results in an updated interpretation or changes in the agent's subjective belief regarding the effectiveness of the selected action as well as the objective reality of the effectiveness of all (...) other possible actions (i.e. consequence realization). Complications arise when the economic agent is presented with a set of actions that render ambiguous preference, or when the effectiveness of an action cannot be perceived upon its selection, thereby necessitating a different theory of choice and consequence realization. (shrink)

The purpose of the paper is to consider genesis and approaches to forming a security culture of tourism and hospitality enterprises that are superstructures of economic, industrial, professional, household, ecological, psychological and social security. In the research, apart from general scientific methods, we used the collection and analysis of primary information obtained from the survey of 220 respondents. Three areas that have a decisive influence on the security of tourism and hospitality enterprises have been identified: organizational culture, decision-making responsibility, (...) and competitiveness. The decision-making methods for different leadership styles were identified. There were conceptualized connection and strength of correlation between types of strategic decisions, leadership styles and organizational culture of tourism and hospitality enterprises. It has been proposed the factors’ configuration relevant to the security of tourism and hospitality enterprises, which focuses on the economic security formation as a function of organizational culture, responsibility for decision making and competitiveness. The styles of leadership and decision-making styles have been revealed, which determine the effectiveness of economic security of tourism and hospitality enterprises. (shrink)

The article considers the features of ensuring the economic security of enterprises in the conditions of intensive introduction of information technologies in their activities in the process of forming the digital economy. It is determined that digitalization creates important advantages for enterprises in terms of implementing a long-term strategy for their development, strengthening economic security, and achieving significant competitive advantages in doing business. It is studied that the system of economic security of the enterprise is an (...) organized set of elements of the management infrastructure of the enterprise, which are focused on ensuring stable and effective development of the business entity, neutralization, and elimination of internal and external threats. (shrink)

This paper investigates the fundamental idea at stake in current bioeconomies such as Europe's Bio-Based Economy (BBE). We argue that basing an economy upon ecology is an ambivalent effort, causing confusion and inconsistencies, and that the dominant framing of the damaged biosphere as a market-failure in bioeconomies such as the BBE is problematic. To counter this dominant narrative, we present alternative conceptualisations of bio-economies and indicate which concepts are overlooked. We highlight the specific contradictions and discrepancies in the relation between (...) economy and ecology, and then work towards outlining a genuine and consistent conceptualisation of the BBE. The philosophical perspective of Emmanuel Levinas is employed to develop a more profound understanding of the tensions at stake; Levinas' work is compared with that of Nicholas Georgescu-Roegen's work on bioeconomics, and found to be of complementary value. Our hypothesis is that, rather than the impossible, absolute amalgamation of economy and ecology striven for today, a principal heterogeneity between humankind and nature must be acknowledged if a bioeconomy that truly operates within the carrying capacity of planet Earth is to be achieved. (shrink)

The Indian banking system evolved from an exclusive private enterprise controlled by a few wealthy families and trusts, leaving the majority reliant on high-interest private lenders, perpetuating economic disparity. Nationalization of 21 banks under Indira Gandhi aimed to rectify this, aligning with India's constitutional goal of equitable wealth distribution. However, globalization and privatization reshaped the landscape, emphasizing profit-seeking and catering to the corporate sector and affluent classes. The marginalized rural and small business sectors suffered in this pursuit, evident (...) in neglected rural branch postings. To address this, an ethical foundation merging Marxist economics and Shariah banking principles is proposed, seeking inclusivity and ethical grounding. Shariah principles, rooted in Islamic law, extend beyond religious boundaries, while Marxist values amplify voices of the marginalized. By combining these principles, a more inclusive, morally anchored, and holistic Indian banking system can be envisioned. The priority sector's Non-Performing Assets challenge can be addressed without jeopardizing inclusivity. (shrink)

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

Socioeconomic status refers to the family's social and economic standing in society. It is measured by combining an individual or group's economic and social position, which is often based on income, education, and occupation. It significantly affects academic performance and even one's health status. The pandemic changed the educational system, causing a huge transition from traditional learning methods to online learning. This shift resulted in confusion, burden, and difficulty among students from different walks of life. This study (...) was conducted to determine the academic stress on online learning among nursing students in relation to their economic status and their ability to access technology. The study utilized a quantitative-correlational method aided by a standard questionnaire. Two hundred thirty-six University of Bohol nursing students enrolled in the second semester of SY 2021–2022 were included in the study by random selection. Data revealed a significant correlation between economic status and the level of stress related to academic expectations and a significant correlation between economic status and access to technology after being subjected to the Spearman rho test of correlation. However, no significant correlation was found between access to technology and the respondents' level of academic stress. (shrink)

The explosive growth in computational power over the past several decades offers new tools and opportunities for economists. This handbook volume surveys recent research on Agent-based Computational Economics (ACE), the computational study of economic processes modeled as open-ended dynamic systems of interacting agents. Empirical referents for “agents” in ACE models can range from individuals or social groups with learning capabilities to physical world features with no cognitive function. Topics covered include: learning; empirical validation; network economics; social dynamics; financial markets; (...) innovation and technological change; organizations; market design; automated markets and trading agents; political economy; social-ecological systems; computational laboratory development; and general methodological issues. (shrink)

The theme of this issue of the St. Gallen Business Review is "Harmony". For this reason, we would like to discuss whether two aspects of our life- world are in harmony, namely economic optimization and morality. What is the relation between them? According to a widely shared view, which is one aspect of the doctrine of "mainstream economics", the functioning of an economic system does not require moral behaviour on the part of the individual economic agent. (...) In what follows, we will try to convince you that this is false. If all economic agents – managers, employees, bankers, consumers and so on – were purely self-interested, as mainstream economics assumes, our economic practice would fail. There are various reasons for this. Here we will focus on one of them, namely the pivotal role of interpersonal communication. (shrink)

In this paper, a framework incorporating flexibility as a characteristic is proposed for designing complex, resilient socio-ecological systems. In an interconnected complex system, flexibility allows prompt deployment of resources where they are needed and is crucial for both innovation and robustness. A comparative analysis of flexible manufacturing systems, economics, evolutionary biology, and supply chain management is conducted to identify the most important characteristics of flexibility. Evolutionary biology emphasises overlapping functions and multi-functionality, which allow a system with structurally different (...) elements to perform the same function, enhancing resilience. In economics, marginal cost and marginal expected profit are factors that are considered to be important in incorporating flexibility while making changes to the system. In flexible manufacturing systems, the size of choice sets is important in creating flexibility, as initial actions preserve more options for future actions that will enhance resilience. Given the dynamic nature of flexibility, identifying the characteristics that can lead to flexibility will introduce a crucial dimension to designing resilient and sustainable socio-ecological systems with a long-term perspective in mind. (shrink)

This research paper attempts to get pragmatic way to deal with few questions like, 'Will Indian Economic thoughts be able to give directions to crises-ridden global economic system?', 'Can India show solutions to the World's Present Socio-economical crises?'' and What are the Alternatives available before mankind to avoid economic crises?' The concept of economic exploitation or “exploitation” which has been the focal point of solemn philosophical debate is one of the favorite nouns in the glossary (...) of critics of the free market economy. The strongest version of the claim that the free market necessarily involves exploitation is that of Karl Marx. The aim of this research paper is to bring to the notice of economist, policy makers, research scholars, professors and students of economics as well as of philosophy and layman, that what kind of solution, a Philosopher from India, like Prof. Surendra S. Barlingay has to offer to the discipline of economics at large. (shrink)

Economic sanctions are envisaged as a sort of punishment, based on what should be an institutional decision not unlike a court ruling. Hence, the conditions for their lifting should be clearly stated and once those are met sanctions should be lifted. But this is generally not what happens, and perhaps is precluded by the very nature of international sanctioning. Sanctions clearly have political, economic, military and strategic consequences, but the question raised here is whether sanctions can also have (...) moral justification. Illustrated by the example of international sanctions against Yugoslavia, the authors show how the process of escalating demands on a target country, inherent to the very process of sanctioning, can lead ultimately even to overt aggression. As a result of this logic of escalation, economic sanctions cannot be articulated properly in any law-like system. Economic sanctions have much more in common with war than legal punishment, and in fact represent a form of siege. As such, they cannot be ended simply on the basis of their initial rationale, for the very process of sanctions implementation opens up possibilities for setting new goals and a continuous redefinition of the goal that sanctions are seen to have. (shrink)

This article suggests theoretical and methodological approach to corporate control system formation in Eastern Europe (case study of Ukraine). It considers historical and controversial aspects of corporate control implementation and suggests the systematization of subjects and objects in terms of corrective actions and outlines of corporate relations. Existing types of corporate control in Ukraine have been investigated on the basis of legal and regulatory framework and corporate practice. The article suggests measures in respect of management of the corporate control (...) system development, based on the improvement of certain components of corporate control implementation and structural peculiarities. (shrink)

ANNOTATION Sardak S.E. Global Regulatory System of Human Resources Development. – Manuscript. Thesis for the Doctor of Economic Science academic degree with major in 08.00.02 – World Economy and international economic relations. – SHEE «Kyiv National Economic University named after Vadym Hetman», Kyiv, 2014. The preconditions and factors of the global economic system with the identified relevant subjects areas and mechanisms of regulation instruments have been investigated. The crucial role of humans in the global (...) economic system as a key factor of production, the main resource, the producer and the consumer of economic and social benefits that are exposed to global threats, problems, challenges, trends and subjects has been confirmed. There have been revealed the causes and consequences of the public institutions transformation under the influence of globalization, which formed a qualitatively new conditions for social and economic development that determine the need for further changes in the areas of conceptual guideline for the management of human resources development, optimization of tasks, state and international institutions activity forms, integration of efforts as for monitoring, planning and forecasting. The modern major instruments and spheres of international cooperation to ensure human development have been determined. The integrated characteristic of human resources and their role in social development both from the standpoint of their use in labour processes and as a medium of civilization and social utility with the help of the categorical classification system organizing and expanding which enables to design and apply the appropriate approaches at all managerial levels have been defined. The necessity and the concept of human resources development in the context of the content of managerial influence identifying (self-development, self-management and external control of development) at different administrative levels that ensures the growth of human capital to the limits of its potential have been analysed. The survey of human activity system aspects in the global world, taking into account the parametrization of the global environment, its structure, management and development have been realized. The formed methodology principles of managerial influence on the development of human resources with scientific schools, hardness degrees, available models, research and providing theoretical and practical implementation peculiarities for groups of countries and territories of the world taken into consideration have been examined. There have been noted civilization and national differences in the forms of managerial influence on the development of human resources, which lead to the formation of human resources development national control systems conditioned by different value public strategic guidelines, especially in relation to social security, education, national management and state migration policy. The current and future requirements for global human resources development which are proposed to be achieved by the development and formalization of global civilizational paradigm of social development due to social coordination interaction have been given. The influence of the institute of state on the human resources development has been evaluated and it has been proved that in the beginning of the XXI century in the global environment the institute of state is the ultimate guarantor of its citizens’ labour ability and vital activity renewal, that makes it the main instrument of managerial influence on human development. The methodology of countries and territories matrix positioning by human development qualitative criteria and population size quantitative parameters which allows to design unified managerial measures as for human resources for similar national economies in the context of global regulatory trends has been proposed. The strategic trends of improvement of human resources development in the national economy, taking into account the differences in the development of human resources in different countries and areas which vary and differ in their focus, content and ways of implementation for such groups. The varying criteria for evaluating the effectiveness of the global impact on human resources development, taking into account the natural, biological, technological, economic, social and management dimensions and the results of human resources development management in social and economic systems at various levels have been revealed. The periodization and the forecast of the global dynamics of human resources development by analyzing and modeling the values of the absolute and relative terms correlation character have been carried out, which enables to make their retrospective and prospective comparison and to find chronological boundaries of qualitatively different periods. The configuration of the human resource development global coordinate system as a set of interrelated principles, components, fields, tools, frameworks, management levels and forms of managerial influence that allows with the help of institutional means to adapt the state of human resources development to a globally varying environment. (shrink)

This work aims to study strategies used in Argentine local development experiences, focussing on industrial design, marketing and entrepreneurship. In order to this purpose, backgrounds are analysed with this approach adding the study of three strategic plans for national and provincial-level that are currently in force. With the analysis of the transport system in the last decade, an accelerated cost increase is evident, resulting in a relatively higher price of distributed products. This situation that was initially perceived as a (...) disadvantage finally set up an opportunity to produce locally. The goal of this paper is to provide tools that contribute to the work shipped by key institutions for local development (public, private and intermediary organisations), and the way these interact with the actors and the territory. In particular, the identification of productive sectors and the selection of goods that can be produced and consumed locally, as a key input for the formulation of projects. (shrink)

Until recently, the economic history of pre-colonial Africa was replete with uncomplimentary theories and from scholars of different disciplines. The belief was that the economy was subsistent, uniform, unchanging and very uninteresting. These theorists believed that the dominant agricultural sector was virtually immobilized by a combination of primitive technology, like communal land tenure and extended family, while the development of key entrepreneurial groups was inhibited by the prevalence of an anti-capitalist value system. The historical analytical method was adopted (...) in this research. The theories portrayed pre-colonial Africans as people that lacked the capacity to progress even though they lived in a rich environment. It was believed that it was not until the advent of the Europeans that positive changes were recorded. However, contrary to these theories, the Ibibio pre-colonial economy was premised on agriculture, complemented by trade and the existence of local industries. Thus, their pre-colonial economy was more coordinated, complex and diversified than the Eurocentric writers opined. The success recorded in this direction was activated by economic diplomacy which the Ibibio had practiced in the pre-colonial period. Issues relating to the economy were properly managed through the adoption of various relevant methods and strategies. Since the economy of a people operates in the society and remains fundamental to the survival of such society with the capacity to influence the political and other institutional decisions, economic diplomacy triggered holistic development in Ibibioland. Based on these, it recommended that present day Ibibio economy should not be totally divorced from these fundamental variables if the Ibibio are to be economically relevant in present day Nigeria. (shrink)

The article gives a definition of the technical and economic potential of the application of the deforming broaching process. Research of the consequences of introducing deforming broaching into technological processes at manufacturing enterprises is carried out on the basis of application of system resource and matrix approach. On the basis of the performed researches, a methodological basis for the economic evaluation of the results of applying deforming broaching on the pro-duction has been developed. The article has improved (...) the well-known scientific and methodological foundations for the determination of technical and economic results of the application of deforming broaching due to the complex identifica-tion of production-organizational decisions - in technical and forms of evaluation in economic spheres. The developed approach gives an opportunity to more accu-rately assess the economic effect of introducing deforming broaching on the min-ing, metallurgical and machine building industries. It can be used to assess the economic effect of introducing other process parts processing. (shrink)

From Hegel's philosophy of nature, this essay develops a critique of economic models and market society, based on Hegel's notion of what it takes for a formally described system to be embodied and real.

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

The article examines the peculiarities and modern specifics of the formation of ecological and economic security in Ukraine in the conditions of digitalization. It was determined that the lack of dynamic growth, the violation of the optimal balance and balance of the ecological and economic system are caused by the depletion of raw resources, a decrease in the overall potential of the environment, and the irrational use of natural resources. It has been proven that in the conditions (...) of digitalization, a new challenge for all enterprises is to ensure the ecological and economic efficiency of their activities, which combines the principles of transparency and openness in their functioning. It has been proven that the strategy of environmentally-oriented economic development should be aimed at solving environmental problems and preserving biological diversity. (shrink)

This article argues that economic crises are incompatible with the realisation of non-domination in capitalist societies. The ineradicable risk that an economic crisis will occur undermines the robust security of the conditions of non-domination for all citizens, not only those who are harmed by a crisis. I begin by demonstrating that the unemployment caused by economic crises violates the egalitarian dimensions of freedom as non-domination. The lack of employment constitutes an exclusion from the social bases of self-respect, (...) and from a practice of mutual social contribution crucial to the intersubjective affirmation of one’s status. While this argument shows that republicans must be concerned about economic crises, I suggest a more powerful argument can be grounded in the republican requirement that freedom must be robust. The systemic risk of economic crisis constitutes a threat to the conditions of free citizenship that cannot be nullified using policy mechanisms. As a result, republicans appear to be faced with the choice of revising their commitments or rejecting the possibility that republican freedom can be robustly secured in capitalist societies. (shrink)

Economic theory is the science that studies the actions of people in the process of choosing rare resources for the production, exchange, distribution and consumption of goods and services. Economic theory is a science that studies the laws of development of the economic system arising from the production and appropriation of goods and services in all spheres of social reproduction, as well as those aspects of the evolution of the national consciousness of the spirit of the (...) people, its culture, psychology, morality and behavior that affect the process economy. (shrink)

The paper questions the compatibility of critical realism with ecological economics. In particular, it is argued that there is radical dissonance between ontological presuppositions of ecological economics and critical realist perspective. The dissonance lies in the need of ecological economics to state strict causal regularities in socio-economic realm, given the environmental intuitions about the nature of economy and the role of materiality and non-human agency in persistence of economic systems. Using conceptual apparatus derived from Andrew Brown’s critique of (...) critical realism and Bruno Latour’s actor-network theory, the paper refuses ontological nature/society dualism employed by critical realism, and stresses the role of non-humans in practical production and reproduction of socio-economic networks on the one hand, and in broadly defined ecological economic research on the other hand. (shrink)

The authors of the book have come to the conclusion that it is necessary to effectively use modern management mechanisms and development strategies of economic entities in order to increase the efficiency of their activities. Basic research focuses on diagnostics threat of bankruptcy, assessment of bioenergy potential, intellectual property, efficiency of corporate governance, use of information support, ensuring competitiveness of banking institutions, functioning of the tax system and its decentralization, assessment of the investment climate and investment risks, functioning (...) of a small business. The research results have been implemented in the different models of cluster structures, mechanisms for monitoring the quality of health care, predicting the convergence of economic development, innovative development models, and development strategies of economic entities in various sectors of the economy in the context of euro integration. The results of the study can be used in decisionmaking at the level of international business, ministries and departments that regulate the processes development of economic systems, ensuring stability and efficiency. The results can also be used by students and young scientists in modern concepts of the development of economic entities in the context of institutional transformations of the global environment. (shrink)

The current appeal of non-standard economic alternatives is backgrounded against the vulnerability of mainstream capitalism to meltdown and crisis as shown in recent times. There is an increasing number of governments, institutions, and civil societies (NGOs) that have been advocating economic systems, structures, or dynamics that would promote the good of the human person (dignity, personhood, values, and worth). People have started to realize that doing economics is not always within the realm of rationalized judgments and mathematized calculations (...) (highly impersonal) but must look after the human person, at all costs. This paper attempts to contribute to this agendum by employing an interdisciplinary dialogue between theology and economics; drawing a moral-cultural framework towards a compassion-based economics. Together with the positive traits of today’s economic alternatives and the salient features of Jesus’ praxis of compassion, this paper would offer fourteen (14) criteria as basis for what could be the most feasible base/locus for an economics of compassion. Eventually, what has been considered as the suitable base/locus is the Basic Ecclesial Communities (BECs). Hence, a BEC-based Economics of Compassion or BEC-EC. (shrink)

The authors of the book have come to the conclusion that it is necessary to effectively use the methodological tools for assessing the competitiveness of financial and insurance markets, methodological approaches to assessing the effectiveness of regional policy, internal audit of resources. Basic research is aimed at researching the main trends in the international economy, socialization of global economic development, investment aspects of development countries, functioning of consumer market in the international economic system, trends of international population (...) migration, processes of European integration in the field of energy efficiency. The research results have been implemented in the different models of the behavior of the economic system in the conditions of crisis, provision competitiveness of national economy in the face of increasing burden of public debt. The results of the study can be used in decision-making at the level of international business, ministries and departments that regulate international relations, ensuring security and overcoming risks. The results can also be used by students and young scientists in modern concepts of the formation of international economic relations in the context of strengthening European integration processes and globalization of the economy. (shrink)

In recent years, there has been an increasing interest in the development of well-founded conceptual models for Service Management, Accounting Information Systems and Financial Reporting. Economic ex- changes are a central notion in these areas and they occupy a prominent position in frameworks such as the Resource-Event Action (REA) ISO Standard, service core ontologies (e.g., UFO-S) as well as financial stan- dards (e.g. OMG’s Financial Industry Business Ontology - FIBO). We present a core ontology for economic exchanges inspired (...) by a recent view on this phenomenon. According to this view, economic exchanges are based on an agreement on the actions that the agents are committed to perform. This view enables a unified treatment of economic exchanges, regardless the object of the transaction. We ground our core ontology on the Unified Foundational Ontology (UFO), discussing its formal and conceptual aspects, instantiating it as a reusable OntoUML model, and confronting it with the REA standard and the UFO-S service ontology. (shrink)

Although the economic thought of Marshall and Pigou was united by ethical positions broadly considered utilitarian, differences in their intellectual milieu led to degrees of difference between their respective philosophical visions. This change in milieu includes the influence of the little understood period of transition from the early idealist period in Great Britain, which provided the context to Marshall’s intellectual formation, and the late British Idealist period, which provided the context to Pigou’s intellectual formation. During this latter period, the (...) pervading Hegelianism and influences of naturalism arising from the ideas of Charles Darwin and Herbert Spencer were challenged by Hermann Lotze, a key transitional thinker influencing the Neo-Kantian movement, who recognised significant limits of naturalism, on the one hand, and the metaphysical tenor of absolute idealism, on the other, and attempted to provide a balance between the two. The goal of this paper is to make the provisional case for the argument that Pigou’s views on ethics were not only directly influenced by utilitarian thinkers like Mill and Sidgwick, but they were also indirectly influenced by Hermann Lotze, via the influence of the Neo- Kantian movement on late British idealism. To that end, Pigou’s essays in The Trouble with Theism (1908), including his sympathetic consideration of the ethics of Friedrich Nietzsche, reflect the influence of Lotze indirectly through the impact at Cambridge of: James Ward’s critique of associationist psychology, and consideration of the limits of naturalism including the critique of evolutionary ethics; Bertrand Russell’s rejection of neo-Hegelianism and, together with Alfred North Whitehead, the development of Logicism; and G.E. Moore’s critique of utilitarian ethics on the basis of the naturalistic fallacy and the development of his own intuitionist system of ethics. (shrink)

This handbook advances the interdisciplinary field of Philosophy, Politics, and Economics by identifying thirty-five topics of ongoing research. Instead of focusing on historically significant texts, it features experts talking about current debates. Individually, each chapter provides a resource for new research. Together, the chapters provide a thorough introduction to contemporary work in PPE, which makes it an ideal reader for a senior-year course. The handbook is organized into seven parts, each with its own introduction and five chapters: I.Frameworks II.Decision-Making III.Social (...) Structures IV.Markets V.Economic Systems VI.Distributive Justice VII.Democracy The "Frameworks" part discusses common tools and perspectives in PPE, and the "Decision-making" section shows different approaches to the study of choice. From there, parts on "Social Structures," Markets" and "Economic Systems" each use tools from the three PPE disciplines to study and distinguish parts of society. The next part explains dominant theories and challenges to the paradigm of "Distributive Justice." Finally, a part on "Democracy" offers five challenges to current democratic practice. (shrink)