Fairness Vs. Economic Efficiency: Lessons from an Interdisciplinary Analysis of Talmudic Bankruptcy Law

2020 ◽  
Vol 0 (0) ◽  
Author(s):  
Itay Lipschütz ◽  
Mordechai E. Schwarz
Keyword(s):  
General Equilibrium ◽  
Economic Efficiency ◽  
Economic Performance ◽  
Potential Effect ◽  
Bankruptcy Law ◽  
Jewish Law ◽  
Economic Literature ◽  
Sharing Rule ◽  
Bankruptcy Problems ◽  
Legal Literature

AbstractBankruptcy problems are commonly associated with economic disasters, but can also emerge due to extraordinary economic performance The choice of a sharing rule has a significant potential effect on the economy’s general equilibrium. The economic literature hitherto neglected the search for an economically optimal bankruptcy solution and concentrated mainly on normative axiomatizations of sharing rules. However, its findings did not attract much attention of legal scholars. The purpose of this article is to create a symposium between the economic and legal literature on bankruptcy based on our interdisciplinary analysis of a fascinating polemic conducted by Jewish Law scholars over the course of fifteenth centuries about the appropriate bankruptcy solution.

The Impact of the Irish on British Labor Markets During the Industrial Revolution

1986 ◽  
Vol 46 (3) ◽  
pp. 693-720 ◽  
Author(s):  
Jeffrey G. Williamson
Keyword(s):  
General Equilibrium ◽  
Labor Markets ◽  
Economic Performance ◽  
Equilibrium Model ◽  
Industrial Revolution ◽  
Urban Migration ◽  
Real Wages ◽  
Rural Urban Migration ◽  
Rapid Industrialization ◽  
The Impact

The Irish immigrations during the First Industrial Revolution serve to complicate any assessment of Britain's economic performance up to the 1850s. This paper estimates the size of the Irish immigrations and explores its impact on real wages, rural-urban migration, and industrialization. Using a general equilibrium model, the paper finds that the Irish did not play a significant role in accounting for rising inequality, lagging real wages, or rapid industrialization.

Economics and Law as Reflected in Hebrew Contracts

2010 ◽  
pp. 583-604
Author(s):  
Yosef Rivlin
Keyword(s):  
Special Interest ◽  
Action Theory ◽  
Theory And Practice ◽  
Jewish Law ◽  
Power Of Attorney ◽  
Economic Theories ◽  
Legal Literature

This article discusses economic theories in Jewish law as reflected in contracts written in Hebrew, in most cases deriving from Ashkenazic communities. The contracts originated from followers of R. Solomon b. Isaac, his students and their students, dating back to the thirteenth, fourteenth, and fifteenth centuries. Most of the contracts discussed are in manuscript form and have never been published. The theories are examined and the contracts compared with corresponding Sephardic contracts. The article carefully discusses economics and law as explained in Hebrew Contracts. The study of Jewish legal sources yields a fascinating picture of the struggle between vision and action, theory and practice. The article further elaborates upon the Iska partnership which is of special interest. Jewish legal literature discusses two main types of partnership. The first is a regular partnership in which both partners invest and work in the business. An analysis of guardianship and power of attorney concludes this article.

The Theory of “Efficient Breach”: A Jewish Law Perspective

2010 ◽  
pp. 339-360
Author(s):  
Ronald Warburg
Keyword(s):  
Economic Efficiency ◽  
Law And Economics ◽  
Moral Norm ◽  
Legal Norm ◽  
Jewish Law ◽  
Distinguishing Characteristic ◽  
Moral Norms ◽  
Inside Information ◽  
Human Organs ◽  
The Law

This article focuses on the theory of efficient breach from the perspective of the Jewish law. The law and economics schools of thought have advanced a number of controversial claims in the name of economic efficiency—from promoting trading on inside information to providing markets for the sale of human organs—but none may be as provocative and challenging as the argument of entitlement and economic efficiency underlying the theory of “efficient breach.” This article explains various Jewish laws such as halakhah. Halakhah distinguishes between legal and moral norms. The distinguishing characteristic between them is enforceability. Whereas a halakhic-legal norm is enforceable by a bet din, compliance with a halakhic moral norm is dependent upon individual volition. There are two components required in the undertaking of an obligation: effectuating a kinyan and gemirat da'at. This article further elaborates upon every other clause pertaining to Jewish law and Judaism which concludes this article.

scholarly journals THE EFFICIENCY OF COMBINED-CYCLE CHP PLANT WITH VARIABLE ELECTRIC LOADS, TAKING INTO ACCOUNT THE WEAR AND TEAR OF EQUIPMENT

2018 ◽  
Vol 20 (7-8) ◽  
pp. 10-22 ◽  
Author(s):  
R. Z. Aminov ◽  
M. V. Garievsky
Keyword(s):  
Economic Efficiency ◽  
Economic Performance ◽  
Combined Cycle ◽  
Operating Conditions ◽  
Electrical Load ◽  
Optimal Load ◽  
Wear And Tear ◽  
Equipment Wear ◽  
Electric Loads

The economic efficiency of attracting CHPPs to cover the variable zone of daily electrical load schedules was investigated. The estimation of resource and economic performance of combined -cycle HPPs using the example of PGU-450T taking into account equipment wear under different operating conditions in the daily and weekly sections and different composition of the operating equipment has been performed and optimal load regimes have been determined.

scholarly journals Influence of the age of first insemination and first calving in Holstein – Friesian heifers on farm economic efficiency

2020 ◽  
Vol 12 (4) ◽  
pp. 379-383
Author(s):  
K. Stankov
Keyword(s):  
Milk Yield ◽  
Economic Efficiency ◽  
Economic Performance ◽  
High Yield ◽  
Milk Productivity ◽  
Holstein Friesian ◽  
Younger Age ◽  
The Cost ◽  
On Farm ◽  
Friesian Cattle

Abstract. The present study aims to assess the influence of the age of first insemination and first calving in Holstein-Friesian heifers on the cost of breeding and the cost of their marketing as breeding animals. For this purpose, a study was conducted on 7 farms (A, B, C, D, E, F, G) situated in Central and Southern Bulgaria in which Holstein-Friesian cattle are bred. The results of the study indicated that the age of first insemination in the controlled farms was 17.2 months on average, and the age of first calving (AFC) was 26.6 months, which was within the established norms for the Holstein-Frisian breed raised in the country. The heifers from farm A, which entered breeding age the earliest (at 16 months), as well as the age of first calving (25.3 months) had the longest utilisation period – 4.9 lactations. However, they did not develop the highest milk yield either and the economic performance from their raising was low. The heifers on farm F, with age of first insemination of 17.3 months, and first calving age of 26.8 months, and the ones from farm G, with ages 17.4 and 26.6 months, respectively, developed maximum milk yield per lactation. The expenses for raising a heifer of the Holstein-Frisian breed varied from BGN 1922 up to BGN 2389, with an average sum of cost for the studied farms amounting to BGN 2123. This indicated that the raising of heifers from a high-yield breed was an expensive undertaking, but when taking the necessary care for their breeding at a younger age during the period of use they developed higher milk productivity.

scholarly journals ECONOMIC PERFORMANCE OF RICE PRODUCTION TOWARDS VIETGAP IN PHONG BINH, PHONG DIEN, THUA THIEN HUE

2019 ◽  
Vol 128 (3B) ◽  
Author(s):  
Nguyen Van Thanh
Keyword(s):  
Focus Group ◽  
Focus Group Discussion ◽  
Economic Efficiency ◽  
Economic Performance ◽  
Group Discussion ◽  
Rice Production ◽  
Cost Ratio ◽  
Npk Fertilizers ◽  
Spring Crop

Abstract: This study assesses the economic efficiency of rice production of households towards VietGAP in Phong Binh, Phong Dien, Thua Thien Hue. The authors use semi-structured questionnaires to survey 90 rice households (45 households towards VietGAP and 45 conventional households) and hold a focus group discussion to accumulate the data. The results show that households practising VietGAP use only seeds, phosphate, NPK fertilizers as guided by the agricultural co-operatives. In the Winter-Spring crop 2017–2018, these households produce about 6.67 t/ha. The rice production profit of the VietGAP mode is relatively low, about 14,079,320 VND/ha, which is 948,200 VND/ha higher than that of the conventional mode. The profit-cost ratio of rice production with VietGAP is not significantly higher than that with conventional rice production.Keywords: economic efficiency, rice household, VietGAP, conventional rice production

ENTREPRENEURIAL ANOMALIES WITHIN CHINA’S STATE ENTERPRISES

1993 ◽  
Vol 01 (01) ◽  
pp. 21-38
Author(s):  
Richard A Maschmeyer ◽  
Minnie Yi-Miin Yen ◽  
Ji-Liang Yang
Keyword(s):  
Economic Performance ◽  
The State ◽  
State Enterprise ◽  
Bankruptcy Law ◽  
Reform Initiatives ◽  
Republic Of China ◽  
Financial Difficulties ◽  
Entrepreneurial Activities ◽  
State Enterprises ◽  
Responsibility System

Since 1979, market oriented reforms have resulted in several initiatives that promote entrepreneurial activities within state enterprises of the Peoples’ Republic of China. This paper discusses the entrepreneurial characteristics implied within the State Enterprise Law, the Bankruptcy Law and the Contract Responsibility System (CRS). In spite of these well intentioned reform initiatives, state enterprises are currently facing serious financial difficulties. The effectiveness of these entrepreneurial type initiatives in the presence of the enterprises’ deteriorating economic performance is discussed.

scholarly journals Austerity and its Aftermath: Neoliberalism and Labour in Argentina

2011 ◽  
Vol 7 (1 / 2) ◽  
Author(s):  
Ruth Felder ◽  
Viviani Patroni
Keyword(s):  
Economic Efficiency ◽  
Economic Performance ◽  
The State ◽  
Free Flow ◽  
State Regulations ◽  
Neoliberal Restructuring ◽  
Fiscal Spending

The crisis Argentina faced in the late 1980s legitimized a diagnosis that linked the country’s poor economic performance to an inward-looking economy, excessive fiscal spending, unwarranted state regulations, a misguided set of incentives that failed to boost competitiveness and the “economic populism” that privileged political goals over economic efficiency. Alternatively, the solution was sought in policies that privileged deregulation, the free flow of commodities and capital, privatization and a selective intervention of the state in the economy. In this article we will account for the shape of neoliberal restructuring in Argentina by drawing attention to the heavy costs stabilization imposed on the country as the decade progressed. We will emphasize the costs the workers were called on to bear and the responses that emerged from them to challenge neoliberalism. La crise qui a frappé l’Argentine à la fin des années 1980 a justifié un diagnostic qui liait la faible performance économique à plusieurs facteurs : le caractère endogène de son économie, les dépenses excessives de l’État, les réglementations mal avisées, les stimulants mal ciblés qui ne sont pas parvenus à soutenir la compétitivité et le « populisme économique » qui privilégiait les finalités politiques plutôt que l’efficacité économique. En réponse à ce diagnostic, les solutions privilégiées visaient la déréglementation, la libre circulation des marchandises et du capital, les privatisations et l’intervention ciblée de l’État dans l’économie. Cet article présente la configuration des réformes néolibérales en Argentine en insistant sur les coûts élevés que la stabilisation a entraînés au cours de la décennie. Nous soulignons l’importance du fardeau imposé aux travailleurs et travailleuses ainsi que leurs réactions pour contrer le néolibéralisme.

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