Adam Smith's Analysis of the Good (Sober People) and the Bad (Projectors, Prodigals and Imprudent Risk Takers): The Proper Role of the Central Bank in Generating the Wealth of Nations Using the Visible Hand to Empower the Sober People by Using Targeted Bank Policy

2017 ◽  
Author(s):  
Michael Emmett Brady
Keyword(s):  
Central Bank ◽  
Proper Role ◽  
Visible Hand ◽  
Risk Takers ◽  
Wealth Of Nations

A Comparative Assessment on the Role of Central Bank in a Wholesale Banking System

2019 ◽  
Vol 21 (1) ◽  
pp. 217-236
Author(s):  
Byeong-Ryul Lee
Keyword(s):  
Central Bank ◽  
Banking System ◽  
Comparative Assessment

Forward Guidance and the Role of Central Bank Credibility under Heterogeneous Beliefs

2018 ◽  
Author(s):  
Gavin Goy ◽  
Cars H. Hommes ◽  
Kostas Mavromatis
Keyword(s):  
Central Bank ◽  
Heterogeneous Beliefs ◽  
Forward Guidance ◽  
Central Bank Credibility

Who moved the Market? Analyzing the role of Central Bank speeches

2020 ◽  
Author(s):  
Abhinav Anand ◽  
Sankarshan Basu ◽  
Jalaj Pathak ◽  
Ashok Thampy
Keyword(s):  
Central Bank

Intellectual Property Rights and Access to Energy Services in Africa

2018 ◽  
Author(s):  
Professor Adebambo Adewopo ◽  
Dr Tobias Schonwetter ◽  
Helen Chuma-Okoro
Keyword(s):  
Intellectual Property ◽  
Property Rights ◽  
Intellectual Property Rights ◽  
Energy Access ◽  
African Countries ◽  
Energy Services ◽  
Proper Role ◽  
The Law

This chapter examines the proper role of intellectual property rights (IPRs) in achieving access to modern energy services in Africa as part of a broader objective of a pro-development intellectual property agenda for African countries. It discusses the role of intellectual property rights, particularly patents, in consonance with pertinent development questions in Africa connected with the implementation of intellectual property standards, which do not wholly assume that innovation in Africa is dependent on strong intellectual property systems. The chapter examines how existing intellectual property legal landscapes in Africa enhance or impede access to modern energy, and how the law can be directed towards improved energy access in African countries. While suggesting that IPRs could serve an important role in achieving modern energy access, the chapter calls for circumspection in applying IP laws in order not to inhibit access to useful technologies for achieving access to modern energy services.

scholarly journals HOW SHOULD WE RECONCILE SELF-REGARDING AND PRO-SOCIAL MOTIVATIONS? A RENAISSANCE OF “DAS ADAM SMITH PROBLEM”

2020 ◽  
Vol 37 (1) ◽  
pp. 80-102
Author(s):  
Natalie Gold
Keyword(s):  
Adam Smith ◽  
Crowding Out ◽  
Private Interests ◽  
Self Interest ◽  
Intrinsic Motivations ◽  
Social Motivations ◽  
Motivation Crowding ◽  
Wealth Of Nations ◽  
Selfish Agents

Abstract“Das Adam Smith Problem” is the name given by eighteenth-century German scholars to the question of how to reconcile the role of self-interest in the Wealth of Nations with Smith’s advocacy of sympathy in Theory of Moral Sentiments. As the discipline of economics developed, it focused on the interaction of selfish agents, pursuing their private interests. However, behavioral economists have rediscovered the existence and importance of multiple motivations, and a new Das Adam Smith Problem has arisen, of how to accommodate self-regarding and pro-social motivations in a single system. This question is particularly important because of evidence of motivation crowding, where paying people can backfire, with payments achieving the opposite effects of those intended. Psychologists have proposed a mechanism for the crowding out of “intrinsic motivations” for doing a task, when payment is used to incentivize effort. However, they argue that pro-social motivations are different from these intrinsic motivations, implying that crowding out of pro-social motivations requires a different mechanism. In this essay I present an answer to the new Das Adam Smith problem, proposing a mechanism that can underpin the crowding out of both pro-social and intrinsic motivations, whereby motivations are prompted by frames and motivation crowding is underpinned by the crowding out of frames. I explore some of the implications of this mechanism for research and policy.

scholarly journals Money Decentralization under Direct Democracy Procedures. The Case of Classical Athens

2021 ◽  
Vol 14 (1) ◽  
pp. 30
Author(s):  
Emmanouil-Marios L. Economou ◽  
Nicholas C. Kyriazis ◽  
Nikolaos A. Kyriazis
Keyword(s):  
Monetary Policy ◽  
Central Bank ◽  
Direct Democracy ◽  
Hellenistic Period ◽  
International Currency ◽  
Monetary System ◽  
Mediterranean World ◽  
The Stability ◽  
City State

By analyzing the case of Athens during the Classical period (508-323 BCE) the main thesis of this paper is that under direct democracy procedures and the related institutional setup, a monetary system without a Central Bank may function relatively well. We focus on the following issues: (i) Τhe procedures of currency issuing in the Athenian city-state, (ii) why the Athenian drachma become the leading international currency in the Mediterranean world (iii) how and towards which targets monetary policy without a Central Bank was possible (iv) defining the targets of monetary policy and the mechanisms for its implementation (v) the role of money in the economy (vi) the issue of deficit spending (vii) the reasons of the replacement of the Athenian drachma as a leading currency by others from the Hellenistic period onwards (viii) the correlation of our findings regarding the decentralized character of monetary policy in Classical Athens to today’s realities, such as the issue of cryptocurrencies. Our analysis shows that monetary policy without a Central Bank was possible, with its foremost aim being the stability of the currency (mainly, silver coins) in order to enhance trust in it and so, make it an international currency which could outcompete other currencies. Since there was no Central Bank like today, monetary policy decisions were taken by the popular assembly of citizens in combination with the market forces themselves.

scholarly journals A militant defence of democracy: A few replies to my critics

2020 ◽  
pp. 019145372097472
Author(s):  
Cristina Lafont
Keyword(s):  
Deliberative Democracy ◽  
Special Issue ◽  
The Core ◽  
Difficult Question ◽  
Proper Role

In this essay, I address some questions and challenges brought about by the contributors to this special issue on my book ‘ Democracy without Shortcuts’. First, I clarify different aspects of my critique of deep pluralist conceptions of democracy to highlight the core incompatibilities with the participatory conception of deliberative democracy that I defend in the book. Second, I distinguish different senses of the concept of ‘blind deference’ that I use in the book to clarify several aspects and consequences of my critique of epistocratic conceptions of democracy and their search for ‘expertocratic shortcuts’. This in turn helps me briefly address the difficult question of the proper role of experts in a democracy. Third, I address potential uses of empowered minipublics that I did not discuss in the book and highlight some reasons to worry about their lack of accountability. This discussion in turn leads me to address the difficult question of which institutions are best suited to represent the transgenerational collective people who are supposed to own a constitutional project. Finally, I address some interesting suggestions for how to move the book’s project forward.

Our Faith in Creation, God’s Faith in Humanity: Edward Schillebeeckx and Pope Francis on Human Transcendence and an Anthropocentric Cosmos

2019 ◽  
Vol 80 (4) ◽  
pp. 845-863
Author(s):  
Daniel Minch
Keyword(s):  
Ecological Crisis ◽  
Human Beings ◽  
Pope Francis ◽  
Proper Role ◽  
Edward Schillebeeckx ◽  
Theological Foundation

Edward Schillebeeckx’s theology of creation can serve as a foundation for authentic Christian self-understanding in relation to the ecological crisis. Schillebeeckx provides a Thomistic view of humanity and creation as both autonomous and “given” from God. Schillebeeckx’s anthropocentric “creation faith” and nuanced view of secularization provide a way of preserving the uniqueness of humanity without devaluing nature. Structural parallels with Pope Francis’s Laudato Si’ are developed in order to provide a fundamental-theological foundation for determining the proper role of human beings in relation to creation.

The Role of Hand Size in the Fake-Hand Illusion Paradigm

Perception ◽  
10.1068/p5853 ◽  
2007 ◽  
Vol 36 (10) ◽  
pp. 1547-1554 ◽  
Author(s):  
Francesco Pavani ◽  
Massimiliano Zampini
Keyword(s):  
Body Image ◽  
Body Schema ◽  
Body Representation ◽  
The Body ◽  
Video Image ◽  
Body Parts ◽  
Statistical Correlations ◽  
Hand Size ◽  
Visible Hand

When a hand (either real or fake) is stimulated in synchrony with our own hand concealed from view, the felt position of our own hand can be biased toward the location of the seen hand. This intriguing phenomenon relies on the brain's ability to detect statistical correlations in the multisensory inputs (ie visual, tactile, and proprioceptive), but it is also modulated by the pre-existing representation of one's own body. Nonetheless, researchers appear to have accepted the assumption that the size of the seen hand does not matter for this illusion to occur. Here we used a real-time video image of the participant's own hand to elicit the illusion, but we varied the hand size in the video image so that the seen hand was either reduced, veridical, or enlarged in comparison to the participant's own hand. The results showed that visible-hand size modulated the illusion, which was present for veridical and enlarged images of the hand, but absent when the visible hand was reduced. These findings indicate that very specific aspects of our own body image (ie hand size) can constrain the multisensory modulation of the body schema highlighted by the fake-hand illusion paradigm. In addition, they suggest an asymmetric tendency to acknowledge enlarged (but not reduced) images of body parts within our body representation.

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