scholarly journals The Age of Milton Friedman

2009 ◽  
Vol 47 (1) ◽  
pp. 123-135 ◽  
Author(s):  
Andrei Shleifer
Keyword(s):  
Economic Growth ◽  
Life Expectancy ◽  
Educational Attainment ◽  
Free Market ◽  
Living Standards ◽  
Market Forces ◽  
Absolute Poverty ◽  
Milton Friedman ◽  
The World

Between 1980 and 2005, as the world embraced free market policies, living standards rose sharply, while life expectancy, educational attainment, and democracy improved and absolute poverty declined. Is this a coincidence? A collection of essays edited by Balcerowicz and Fischer argues that indeed reliance on free market forces is key to economic growth. A book by Stiglitz and others disagrees. I review and compare the two arguments.

scholarly journals A dinâmica da integração internacional das economias e o Brasil: um exercício teórico

2018 ◽  
Vol 5 (1) ◽  
pp. 635
Author(s):  
Eiiti Sato
Keyword(s):  
Economic Growth ◽  
Economic Development ◽  
International Relations ◽  
World Economy ◽  
International Political Economy ◽  
Market Forces ◽  
State Institutions ◽  
Domestic Markets ◽  
The World ◽  
The Relationship

Since the exchange of goods, services, and capital became a worldwide system some nations have succeeded becoming wealthy and prosperous while many others have failed remaining in poverty. Over the last three decades the dynamism of the increasing integrated world economy became an essential part of the process of economic growth, and as a consequence growth has been meager in countries like Brazil whose authorities have remained systematically hesitant to integrate the domestic markets into the world economy, staying apart from the main flows of trade and capital. The article discusses also why economic development studies has moved from the field of Economy to the field of International Relations forming the area of International Political Economy studies which is mainly driven to understand the trends and changes in the relationship between the state institutions and the market forces in the national and international levels. The essay concludes that to any country the process of integrating into the world economy means exploring and improving national potentialities rather than abandoning national identity and interests. 

EZRA MISHAN, CONTRARIAN AND SAGE: AN APPRECIATION

2016 ◽  
Vol 61 (03) ◽  
pp. 1640012 ◽  
Author(s):  
PETER SINCLAIR
Keyword(s):  
Economic Growth ◽  
Economic Analysis ◽  
Environmental Economics ◽  
Welfare Economics ◽  
Central Figure ◽  
Milton Friedman ◽  
The World

For many of us, the world is far too complicated to allow economic analysis to furnish a clear answer on an issue of policy. Ezra Mishan disagreed. For him, as for his teacher and mentor, Milton Friedman, economics was a system of reasoning that cried out to be used for that purpose - and especially so if prevailing orthodoxy was in error. Mishan was the first economist to attack the then universally held view that economic growth must be beneficial. Fifty years later, as we mourn his recent death, he is an inspiring and central figure in environmental economics, and an example of what can be done with practical welfare economics.

scholarly journals A Review of Gregory Clark's A Farewell to Alms: A Brief Economic History of the World

2008 ◽  
Vol 46 (4) ◽  
pp. 946-973 ◽  
Author(s):  
Robert C Allen
Keyword(s):  
Economic Growth ◽  
Middle Class ◽  
Economic History ◽  
Industrial Revolution ◽  
Empirical Support ◽  
Living Standards ◽  
Preventive Check ◽  
The World ◽  
History Of

A Farewell to Alms advances striking claims about the economic history of the world. These include (1) the preindustrial world was in a Malthusian preventive check equilibrium, (2) living standards were unchanging and above subsistence for the last 100,000 years, (3) bad institutions were not the cause of economic backwardness, (4) successful economic growth was due to the spread of “middle class” values from the elite to the rest of society for “biological” reasons, (5) workers were the big gainers in the British Industrial Revolution, and (6) the absence of middle class values, for biological reasons, explains why most of the world is poor. The empirical support for these claims is examined, and all are questionable.

Kazakhstan

2019 ◽  
pp. 69-94
Author(s):  
Richard Pomfret
Keyword(s):  
Economic Growth ◽  
National Economy ◽  
Economic History ◽  
Nation Building ◽  
Oil Prices ◽  
Living Standards ◽  
Economic Adjustment ◽  
National Economic ◽  
The World ◽  
Transition Strategies

This chapter discusses the national economy and transition strategies of Kazakhstan. Kazakhstan's national economic history divides sharply between 1991 and 1998, and the years since 1999. The first period, dominated by nation-building, saw traumatic economic adjustment to the shocks of the early 1990s and a large unanticipated decline in living standards. As the country started to recover from the economic nadir in 1997 it was hit by the 1998 Russian crisis, and only in 1999 did sustained economic growth begin. However, when growth did begin—stimulated by policy decisions such as a large currency devaluation and sustained by rising oil prices—Kazakhstan enjoyed a decade during which it was one of the fastest growing economies in the world. The chapter also considers the banking crisis in 2007–2008, whose impact was exacerbated by the collapse in the price of oil in the second half of 2008.

scholarly journals Poverty and International Relations Theory

2005 ◽  
Vol 10 ◽  
pp. 23-33
Author(s):  
Laura Kelly
Keyword(s):  
Economic Growth ◽  
International Relations ◽  
Free Market ◽  
State Power ◽  
International Relations Theory ◽  
International Order ◽  
The World ◽  
World Poverty ◽  
Market Ideology

World Poverty. Why has this problem persisted through years of unprecedented economic growth throughout most of the world? This paper proposes that the problem is theoretical. The main theories, such as Realism and Modernization rely on fundamental assumptions such as international order through the maintenance of state power, or free market ideology, which serve to exacerbate, rather than solve, the problem of poverty. The result is either the misrepresentation of poverty, or the blatant ignorance of its existence by these dominant theories.

scholarly journals Discussion of Financial Integration at the Global Market Era

2020 ◽  
Vol 11 (2) ◽  
pp. 69
Author(s):  
Turgut TURSOY ◽  
Niyazi BERK
Keyword(s):  
Economic Growth ◽  
Risk Sharing ◽  
Financial Integration ◽  
Necessary Conditions ◽  
Free Market ◽  
Global Market ◽  
Dominant Factor ◽  
Critical Event ◽  
Market Participants ◽  
The World

This paper purpose is to discuss the latest troubling episode and remind the most critical event again at the world is the integration. First, the last attempt by the countries had been discussing and pronoun that the free market and its extensions are the most prominent phenomena around the world that market participants' perceptions are determined the equilibria prices freely. All the development into the markets witnesses that free market dynamics and the creation of the single global market is the most dominant factor to create a tremendous stimulus behind economic growth. This paper consequently supporting the view that financial integration is providing the necessary conditions to risk-sharing and capital flows to stimulus the economic growth with the expected level at global.

Forests, sustainability and poverty in India

2012 ◽  
Vol 17 (3) ◽  
pp. 373-378 ◽  
Author(s):  
Haripriya Gundimeda ◽  
Priya Shyamsundar
Keyword(s):  
Economic Growth ◽  
Growth Rate ◽  
Middle Class ◽  
Life Expectancy ◽  
Primary School ◽  
World Bank ◽  
Completion Rate ◽  
Energy Projects ◽  
The World ◽  
Service Sectors

AbstractThe Indian economy has grown rapidly at 6–8 per cent per year since 1995 and planners aim to sustain an 8 per cent growth rate in the next years. Growth has created considerable optimism about India and its place in the world. After many years of little change, poverty appears to be on the decline with an estimated 5–7 per cent reduction in the late 1990s (Sundaram and Tendulkar, 2003a, b, c; Deaton, 2005). Life expectancy increased from 59 years in 1991 to 64 years in 2008 and the primary school completion rate was at 96 per cent in 2008 (World Bank, 2012). Economic growth has resulted in a boom in the manufacturing and service sectors, large investments in infrastructure and energy projects, and a soaring middle class.

scholarly journals Population Growth and Economic Development in Developing and Developed Countries

2018 ◽  
Vol 7 (4.34) ◽  
pp. 123
Author(s):  
Mohd Khairul Amri Kamarudin ◽  
Noorjima Abd Wahab ◽  
Mahadzirah Mohamad ◽  
Ahmad Shakir Mohd Saudi ◽  
Mohamad Shaharudin Samsurijan ◽  
...  
Keyword(s):  
Economic Growth ◽  
Developing Countries ◽  
Economic Development ◽  
Population Growth ◽  
Free Market ◽  
Strong Relationship ◽  
Developed Countries ◽  
Free Market Economy ◽  
The World ◽  
Developing And Developed Countries

This research examines the effects of population growth on the economic development between the two developed and developing countries which is Singapore and Malaysia. They were many previous studies that have sought to gauge the effects or impact of population growth along the economic development. It was said that there was a strong relationship between the effects of population growth and the economic development, which is the growth of population is depending on the economic growth. Singapore was well known worldwide as a highly developed free-market economy. The economy of Singapore has been ranked as the most open in the world and the most-pro business. The population in the country is estimated at 5.5 million recently. As for Malaysia, it is known as the most competitive developing countries and is ranked on the 5th largest in South Asia. The population estimated at 31.63 million in Malaysia.  

Democracy and Gender Inequality in Education: A Cross-National Examination

2004 ◽  
Vol 34 (1) ◽  
pp. 137-152 ◽  
Author(s):  
DAVID S. BROWN
Keyword(s):  
Economic Growth ◽  
Economic Development ◽  
Infant Mortality ◽  
Educational Attainment ◽  
Women's Education ◽  
Empirical Work ◽  
Family Health ◽  
Endogenous Growth Theory ◽  
The World ◽  
Cross National

This Research Note examines the role democracy plays in explaining the disparity in educational attainment between men and women in a cross-national context. Policies designed to improve education figure prominently in recent attempts by governments, international institutions and non-governmental organizations (NGOs) to stimulate economic development. The recent emphasis on education is grounded in a well-established literature in economics on the rate of return on investment in education and in a fairly new stream of research in economics – endogenous growth theory – that suggests knowledge is the generative force of economic growth. Although a majority of the work in both literatures focuses on aggregate levels of educational attainment (usually enrolment ratios or literacy rates), a growing body of evidence identifies women’s educational attainment relative to men’s as a crucial variable in explaining the wide variation in economic development throughout the world. In addition to its direct impact on economic growth, women’s education may indirectly affect economic performance in a number of important ways: through its impact on health, fertility and infant mortality. Previous empirical work shows that women’s education has a strong negative effect on fertility and infant mortality. Moreover, family health practices improve in direct proportion to female education. According to the World Bank, countries that achieved universal primary education for boys in 1965 but lagged far behind in educating girls had about twice the infant mortality and fertility rates in 1985 of countries with smaller gender gaps.

scholarly journals Colonial History and Geography have been the Main Determinants of Africa’s Poor Economic Growth: An Experience of Lost Decades (1980-2000)

2019 ◽  
pp. 1-14
Author(s):  
Jeetesh Rai
Keyword(s):  
Economic Growth ◽  
Global Economy ◽  
Free Market ◽  
Colonial History ◽  
Absolute Poverty ◽  
African Countries ◽  
Military Conflict ◽  
Market Economic ◽  
Main Determinants ◽  
Development Paths

Many states in Africa have experienced particularly painful growth trajectories and transitions to post-independence democracy. In particular many writers have noted the ‘lost decades’ for democratic consolidation and economic growth in Africa between 1980 and 2000. Current perceptions of Africa are framed by high levels of absolute poverty and low levels of life expectancy, and significant national debt burdens. Many countries have experienced extended periods of devastating political and military conflict, as well as unsuccessful attempts with Marxist- Leninist and free market economic policy, further exacerbating the painful nature of post-independence development. The development paths of many African countries have also been significantly conditioned by regional militarism as well as international geopolitical developments, furthering conflict and development trauma. This paper therefore seeks to identify some of the root causes of the poor economic growth that many post-independence African nations have experienced, specifically between 1980 to 2000. It argues that colonial (and neo-colonial) history and geography have played a significant role in Africa’s lagging growth rate and peripheral regional status in a hostile and competitive global economy.

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