Natural and Reproducible Capital

2016 ◽  
Author(s):  
Francesco Caselli
Keyword(s):  
Natural Capital ◽  
Elasticity Of Substitution ◽  
Capital Goods ◽  
Negative Relation ◽  
Factor Bias ◽  
The Way

This chapter examines possible factor biases in the way different countries use reproducible and natural capital, using an equation that also takes into account the bundle of capital goods which, combined with labor, is used to produce GDP. The goal of the chapter is to determine how the factor bias varies across countries, and in particular how it varies with income per worker. The factor bias requires three ingredients: relative supply, relative marginal products, and elasticity of substitution. After estimating the relative supply of reproducible capital and relative marginal productivities, the chapter infers the bias toward reproducible capital. The results reveal a negative relation between income and relative marginal products.

scholarly journals Substitutability and the Valuation of Natural Capital

Conservation ◽  
2021 ◽  
pp. 159-181
Author(s):  
Charles Perrings
Keyword(s):  
Environmental Conditions ◽  
Natural Capital ◽  
Utility Functions ◽  
Elasticity Of Substitution ◽  
Goods And Services ◽  
Capital Assets ◽  
Relative Value

Chapter 7 considers the substitutability between produced and natural capital—assets used in the production of goods and services, and between environmental and other goods and services. It shows the ways in which the limits of substitutability are captured in both production and utility functions, and what this means for conservation. The chapter also discusses the relation between substitutability and the value of environmental inputs, using concepts of gross substitutability and complementarity, and the elasticity of substitution. The authors also note that the relative value of environmental inputs is frequently dependent on the environmental conditions under which production takes place.

scholarly journals The Influence of Large Investment Funds

2021 ◽  
pp. 231-244
Author(s):  
Helen Campbell Pickford
Keyword(s):  
Financial Performance ◽  
Institutional Investors ◽  
Natural Capital ◽  
Active Role ◽  
Investment Funds ◽  
Asset Managers ◽  
Large Investment ◽  
The Way

The adoption of the Economics of Mutuality will depend on institutional investors promoting it through active engaged investing. Chapter 18 describes how some investment funds are taking an active role in managing the companies in which they are invested. It involves them acquiring significant blocks of shares that are held for extended periods of time and managed directly by asset owners themselves instead of by intermediary asset managers. Critical to this is the way in which the performance of their investments is monitored and measured. Alongside measuring financial performance over longer periods of time than is conventionally the case, performance needs to be assessed in relation to other indicators of performance related to human, social, and natural capital.

Ausgestaltung der digitalen Vernetzung zwischen Investitionsgüterproduzenten und Lieferanten

2021 ◽  
Author(s):  
Marc Rusch
Keyword(s):  
Supply Chains ◽  
Information And Communication Technologies ◽  
Information Exchange ◽  
Contextual Factors ◽  
Communication Technologies ◽  
Digital Transformation ◽  
Capital Goods ◽  
Relationship Strength ◽  
Information And Communication ◽  
The Way

Digital transformation of the economy is changing the way companies in supply chains communicate with each other. In this work, the author derives managerial options for establishing digital linkages between capital goods producers and suppliers. He thereby evaluates the suitability of information and communication technologies for establishing such linkages. Furthermore, the author analyses what effects information exchange has on performance. For companies, this shows the extent to which they must take into account contextual factors such as the complexity of a procurement task, relationship strength or their dependence on a partner when implementing digital linkages.

Natural Capital

1994 ◽  
Vol 36 ◽  
pp. 169-182 ◽  
Author(s):  
Alan Holland
Keyword(s):  
Sustainable Development ◽  
Environmental Policy ◽  
Environmental Concern ◽  
Natural Capital ◽  
Policy Makers ◽  
The Social ◽  
Scientific Approach ◽  
Policy Community ◽  
Social Scientific ◽  
The Way

Interest in the concept of natural capital stems from the key role which this concept plays in certain attempts to elucidate the goal of sustainable development—a goal which currently preoccupies environmental policy-makers. My purpose in this paper is to examine the viability of what, adapting an expression of Bryan Norton's, may be termed the ‘social scientific approach’ to natural capital (Norton, 1992, p. 97). This approach largely determines the way in which environmental concern is currently being represented in the environmental policy community.

scholarly journals A Measure of the Elasticity of Substitution in the Manufacturing Sector of Pakistan

2001 ◽  
Vol 6 (2) ◽  
pp. 43-56
Author(s):  
Rukhsana Kalim
Keyword(s):  
Large Scale ◽  
Manufacturing Sector ◽  
Industrial Sector ◽  
Elasticity Of Substitution ◽  
Factor Price ◽  
Capital Goods ◽  
Employment Potential ◽  
The Empirical Analysis ◽  
Price Distortions

From a technological perspective, the paper is mainly concerned with finding the employment potential in different groups of industries of Pakistan. The role of factor prices in determining techniques of production in the industrial sector through elasticity of substitution has been analysed. Besides taking the large-scale manufacturing sector as a whole, three broad categories of industries viz., consumer goods, intermediate goods and capital goods industries has been selected in particular for the empirical analysis. By utilising the OLS technique, the cross-section analysis for the year 1995-96 has been made. Our results indicate the there is great potential for employment in the intermediate and capital goods industries provided there are no factor price distortions in the economy.

Capital and Labor

2016 ◽  
Author(s):  
Francesco Caselli
Keyword(s):  
Natural Capital ◽  
Elasticity Of Substitution ◽  
Unskilled Labor ◽  
Labor Input ◽  
Capital Input ◽  
Labor Inputs

This chapter examines the efficiency with which the aggregate labor input and, respectively, the aggregate capital input are used in production. To this end, it uses an equation that takes into account coefficients that operate as augmentation coefficients for “natural capital equivalents,” that is, the capital input expressed in efficiency units of natural capital, and “unskilled-labor equivalents,” or the labor input in efficiency units of unskilled labor. After inferring augmentation coefficients for labor and capital, the chapter estimates variable capital shares and introduces a broader measure of labor inputs. The results reveal an imperfect elasticity of substitution between natural and reproducible capital.

scholarly journals Social Capital, Resource Constraints and Low Growth Communities: Lifestyle Entrepreneurs in Nicaragua

2018 ◽  
Vol 10 (10) ◽  
pp. 3813 ◽  
Author(s):  
Rita Klapper ◽  
Paul Upham ◽  
Kalevi Kurronen
Keyword(s):  
Social Capital ◽  
Capital Accumulation ◽  
Resource Constraints ◽  
Natural Capital ◽  
Consumer Society ◽  
Formal Institutions ◽  
Resource Constrained ◽  
Material Resource ◽  
The Way

In the context of the connections between lifestyle entrepreneurship and sustainability, we discuss the way in which social capital may partially substitute or compensate for manufactured and natural capital. In terms of methods we use a case study community of lifestyle entrepreneurs in Nicaragua, operating under conditions of material resource constraints and weak formal institutions. We find that social capital is highly important in such a community, with the entrepreneurs adopting a range of effectuation or coping practices that enable them to function. We document these practices and consider the broader implications of such capital substitution, noting the particularities of the case study but also the implications for sustainability and the economics of a materially resource-constrained world. We draw particularly on Bourdieu’s conception of social capital, which posits that societies inherently organize for multi-capital accumulation, a proposal that itself has implications for sustainability. We conclude that while significant substitution of social for manufactured and natural capital is feasible in communities with values that are supportive of this, it remains to be seen whether this would be attractive to the wider, consumer society.

Self-sacrifice for in-group's history: A diachronic perspective

2018 ◽  
Vol 41 ◽  
Author(s):  
Maria Babińska ◽  
Michal Bilewicz
Keyword(s):  
Clinical Psychology ◽  
Historical Events ◽  
Emotional Events ◽  
Reciprocal Process ◽  
The Way

AbstractThe problem of extended fusion and identification can be approached from a diachronic perspective. Based on our own research, as well as findings from the fields of social, political, and clinical psychology, we argue that the way contemporary emotional events shape local fusion is similar to the way in which historical experiences shape extended fusion. We propose a reciprocal process in which historical events shape contemporary identities, whereas contemporary identities shape interpretations of past traumas.

What is the purpose of cognition?

2020 ◽  
Vol 43 ◽  
Author(s):  
Aba Szollosi ◽  
Ben R. Newell
Keyword(s):  
Infinite Number ◽  
Human Cognition ◽  
The Way

Abstract The purpose of human cognition depends on the problem people try to solve. Defining the purpose is difficult, because people seem capable of representing problems in an infinite number of ways. The way in which the function of cognition develops needs to be central to our theories.

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