scholarly journals The End of Western Economic Growth Theory

2021 ◽  
Vol 5 (2) ◽  
pp. 6
Author(s):  
Chen Peixiong
Keyword(s):  
Economic Growth ◽  
Market Economy ◽  
Chinese Economy ◽  
Growth Theory ◽  
Economic Activities ◽  
Universal Gravitation ◽  
Western Economy ◽  
Long Time ◽  
Production Economic ◽  
Real Market

Economics is a science that studies how the economy grows, so the theory of economic growth is the most important theory of economics. In the real market economy society, people achieve the goal of economic growth through two kinds of economic activities: production and transaction. Then a correct economic growth theory must be one that can explain both production and transaction economic activities. Just like Newton’s law of universal gravitation in physics, it can explain the motion law of all objects. For a long time, we have been dominated by the western economic growth theory of western mainstream economics. It is not difficult to find that it has a fatal defect, which can only explain production economic activities but not transaction economic activities. So it can’t explain the Chinese economy, and it can’t explain the western economy. The new economic growth theory proposed in this paper makes up for the defects of western economic growth theory, and it is the terminator of western economic growth theory. This is a revolution of new economics to traditional western economics.

scholarly journals Wymiar społeczny korporacji finansowych w systemie kapitalistycznym

2013 ◽  
pp. 167-180
Author(s):  
Katarzyna Marta Pniewska
Keyword(s):  
Economic Growth ◽  
Financial Markets ◽  
Social Exclusion ◽  
Market Economy ◽  
Market Imperfections ◽  
Long Time

In capitalism the capital plays superior role. Financial markets and financial corporations have a special and fundamental place in it due to their importance for market economy and economic growth. For a long time the pathologies of capitalism like degradation of environment, increasing gulf between rich and poor, social exclusion and global disequilibrium that capitalism is responsible for were ignored. The explanation was that the market will solve all the problems. Unfortunately, the market isn’t perfect. A good example of market imperfections is the use of excess capital for speculation. Therefore it is necessary to redefine the role of financial corporation so it includes social matters.

scholarly journals Transfer of Ownership Title under Albanian Company Law

2015 ◽  
Vol 1 (1) ◽  
pp. 16
Author(s):  
Erjola Aliaj
Keyword(s):  
Economic Growth ◽  
Market Economy ◽  
Company Law ◽  
Economic Activities ◽  
Commercial Activity ◽  
Effective Mechanism ◽  
Legal Rules ◽  
Market Economy System ◽  
The One ◽  
Economy System

Commercial activity is the one of the most important aspects of the market economy system. The exercise of commercial activity is regulated by legal rules, which serve as guaranteess for an adequate, reliable and effective mechanism of the commercial activity and also create a favorable business and incentives climate for the development of economic activities, which directly affects the country's economic growth. The freely transfer of ownership title over the shares is an important element, which guarantees the financial rights of the respective owners. Shares as ownership titles can be transferred under conditions specified in Albanian Company law. In practice, during its implementation, were identified ambiguities and several difficulties in relation to the procedure for the transfer of ownership titles over the shares. Precisely, through this paper is provided an analysis of the procedure and identified problems and the possibility to clarify or suggest any potential solutions.

scholarly journals Assessment of the financial stability of the results of the organization of Sevastopol

2021 ◽  
pp. 161-169
Author(s):  
L. I. Sachenok
Keyword(s):  
Market Economy ◽  
Financial Stability ◽  
Enterprise Management ◽  
Main Element ◽  
Economic Activities ◽  
Economic Stability ◽  
Financial Condition ◽  
Long Time ◽  
The Subject

The assessment of economic stability and solvency is the main element of the analysis of the financial condition necessary for control, allowing to assess the risk of breach of obligations under the calculations of the enterprise. The purpose of the study was to assess the economic stability of the organization and develop measures to improve it in a market economy. The subject was the study of the financial condition of the organization in the aspect of economic stability. The paper evaluates the results of the economic activities of the micro-enterprise LLC “Solveks Group”. The author gives the characteristics of the organization, investigates the reporting indicators to identify errors in enterprise management. The enterprise was unprofitable for a long time, but recently began to make a profit. It became necessary to determine whether this trend is really positive, or whether it hides new problems. The study carries out an analysis of the liquidity and solvency of the organization, during which identifies a number of problems. The author makes recommendations for improving financial stability.

Inter-country inequality as a dynamic process and the problem of post-industrial development

2018 ◽  
pp. 5-29 ◽  
Author(s):  
L. M. Grigoryev ◽  
V. A. Pavlyushina
Keyword(s):  
Economic Growth ◽  
Political Institutions ◽  
Industrial Development ◽  
Modern World ◽  
New Approach ◽  
Development Level ◽  
The World ◽  
Long Time ◽  
The Difference ◽  
Post Industrial

The phenomenon of economic growth is studied by economists and statisticians in various aspects for a long time. Economic theory is devoted to assessing factors of growth in the tradition of R. Solow, R. Barrow, W. Easterly and others. During the last quarter of the century, however, the institutionalists, namely D. North, D. Wallis, B. Weingast as well as D. Acemoglu and J. Robinson, have shown the complexity of the problem of development on the part of socioeconomic and political institutions. As a result, solving the problem of how economic growth affects inequality between countries has proved extremely difficult. The modern world is very diverse in terms of development level, and the article offers a new approach to the formation of the idea of stylized facts using cluster analysis. The existing statistics allows to estimate on a unified basis the level of GDP production by 174 countries of the world for 1992—2016. The article presents a structured picture of the world: the distribution of countries in seven clusters, different in levels of development. During the period under review, there was a strong per capita GDP growth in PPP in the middle of the distribution, poverty in various countries declined markedly. At the same time, in 1992—2016, the difference increased not only between rich and poor groups of countries, but also between clusters.

2018 Nobel Economics Prize: Integrating Climate Change Measures into Sustainable Economic Growth

2018 ◽  
Vol 34 (4) ◽  
Author(s):  
Nguyen Thi Thuc An ◽  
Dau Kieu Ngoc Anh
Keyword(s):  
Climate Change ◽  
Economic Growth ◽  
Endogenous Growth ◽  
Environmental Issues ◽  
Growth Theory ◽  
Endogenous Growth Theory ◽  
Technological Advances ◽  
Academy Of Sciences ◽  
Sustainable Economic Growth

The 2018 Nobel Economics Prize was awarded to two American economists - William D. Nordhaus and Paul M. Romer - who designed methods for better assessing environmental issues and technological advances on growth. This year’s Laureates, Nordhaus was the first person to create an intergrated model to assess interactions between society and nature and Romer laid the foundation for what is now called endogenous growth theory. According to the Swedish Royal Academy of Sciences, these two macroeconomists’ research have helped “significantly broaden the scope of economic analysis by constructing models that explain how the market economy interacts with nature and knowledge” which integrates climate change measures into long-term sustainable economic growth. Keywords Nobel in economics, William D. Nordhaus, Paul M. Romer, climate change, endogenous growth theory, economic growth References [1] Y Vân (2018), “Lý lịch 'khủng' của hai nhà khoa học vừa giành giải Nobel Kinh tế 2018”, Vietnambiz, đăng tải ngày 08/10/2018, https://vietnambiz.vn/ly-lich-khung-cua-hai-nha-khoa-hoc-vua-gianh-giai-nobel-kinh-te-2018-95776.html[2] Jonas O. Bergman, Rich Miller (2018), “Nordhaus, Romer Win Nobel for Thinking on Climate, Innovation”, đăng tải ngày 8/10/2018, https://www.bloomberg.com/news/articles/2018-10-08/nordhaus-romer-win-2018-nobel-prize-in-economic-sciences [3] Antonin Pottier (2018), “Giải Nobel” William Nordhaus có thật sự nghiêm túc?”, Nguyễn Đôn Phước dịch, đăng tải ngày 11/10/2018, http://www.phantichkinhte123.com/2018/10/giai-nobel-william-nordhaus-co-that-su.html[4] Thăng Điệp (2018), “Giải Nobel kinh tế 2018 về tay hai người Mỹ”, đăng tải ngày 8/10/2018, http://vneconomy.vn/giai-nobel-kinh-te-2018-ve-tay-hai-nguoi-my-20181008185809239.htm[5] Lars P. Syll (2018), “Cuối cùng - Paul Romer cũng có được giải thưởng Nobel”, Huỳnh Thiện Quốc Việt dịch, đăng tải ngày 14/10/2018, http://www.phantichkinhte123.com/2018/10/cuoi-cung-paul-romer-cung-co-uoc-giai.html[6] Phương Võ (2018), “Nobel Kinh tế 2018: Chạm tới bài toán khó của thời đại”, đăng tải ngày 9/10/2018, https://nld.com.vn/thoi-su-quoc-te/nobel-kinh-te-2018-cham-toi-bai-toan-kho-cua-thoi-dai-20181008221734228.htm[7] Đông Phong (2018), “Nobel Kinh tế cho giải pháp phát triển bền vững và phúc lợi người dân”, đăng tải ngày 8/10/2018, https://news.zing.vn/nobel-kinh-te-cho-giai-phap-phat-trien-ben-vung-va-phuc-loi-nguoi-dan-post882860.html[8] Thanh Trúc (2018), “Giải Nobel kinh tế 2018: Thay đổi tư duy về biến đổi khí hậu”, https://tusach.thuvienkhoahoc.com/wiki/Gi%E1%BA%A3i_Nobel_kinh_t%E1%BA%BF_2018:_Thay_%C4%91%E1%BB%95i_t%C6%B0_duy_v%E1%BB%81_bi%E1%BA%BFn_%C4%91%E1%BB%95i_kh%C3%AD_h%E1%BA%ADu[9] Cẩm Anh (2018), “Nobel kinh tế 2018: Lời giải cho tăng trưởng kinh tế bền vững”, đăng tải ngày 11/10/2018, http://enternews.vn/nobel-kinh-te-2018-loi-giai-cho-tang-truong-kinh-te-ben-vung-137600.html.

Lecturas posibles sobre la construcción del actor económico

2017 ◽  
pp. 163
Author(s):  
Nicolás Gómez Núñez
Keyword(s):  
Economic Growth ◽  
Public Policies ◽  
Local Level ◽  
Endogenous Development ◽  
Economic Activities ◽  
The Public ◽  
Basic Ideas

En tres breves capítulos, el artículo pone a disposición las ideas básicas que cruzan la reflexión sobre las actividades económicas que las personas realizan en condiciones de pobreza, destacándose la preocupación sobre si estos desempeños pueden constituirse en alternativas de crecimiento económico a nivel local o si ellas son actores que inciden en las políticas públicas que organizan los supuestos del desarrollo.Palabras clave Actividades Económicas Autogestionadas / Autonomía / Capacitación / Desarrollo Endógeno.Abstract:In three brief chapters, the article displays the basic ideas that intersect the reflection on the economic activities that people perform in conditions of poverty, standing out the concern whether these performances can constitute in alternatives of economic growth at the local level or whether they are activities that affect the public policies which organize the theories of development.Key words Self-managed economic activities / Autonomy / Training / Endogenous Development

Public Financing of Human Development in India: A Review

2021 ◽  
Vol 15 (1) ◽  
pp. 62-81
Author(s):  
Sacchidananda Mukherjee ◽  
Shivani Badola
Keyword(s):  
Economic Growth ◽  
Human Capital ◽  
Human Development ◽  
Public Investment ◽  
Public Financing ◽  
Economic Activities ◽  
Economic Opportunities ◽  
Goods And Services ◽  
Public Transfers ◽  
Distribution Of Resources

Role of public financing of human development (HD) is inevitable, especially for developing countries like India where access to resources and economic opportunities are not equitably distributed among people. Governments aim to achieve equity in distribution of resources through allocative and redistributive policies whereas macroeconomic stabilisation policies aim to achieve higher economic growth and stability in the price level. Expenditure policies of the governments envisage in delivering larger public goods and services to enable people to take part in economic activities by investing in human capital and infrastructure developments. Progressivity of the tax system helps in achieving equity by redistribution of resources among people. Being merit goods, expenditures on education, health, and poverty eradication make it a case for public investment which empowers people to improve human capital. The benefit of universal economic participation is expected to contribute in larger mobilisation of public resources over time. Lack of economic opportunities and earning a respectable income may increase dependence on public transfers which may reduce fiscal space of the governments to finance programmes to promote overall economic growth. The objective of this article is to review existing studies on public financing of HD in India and highlight emerging challenges.

Developing an economy based on knowledge and innovation in the context of the middle income trap

2015 ◽  
Vol 60 (10) ◽  
pp. 56-74
Author(s):  
Paweł Wieczorek
Keyword(s):  
Economic Growth ◽  
New Technologies ◽  
Current Model ◽  
Growth Theory ◽  
Labor Costs ◽  
Average Income ◽  
Middle Income ◽  
Endogenous Growth Theory ◽  
Middle Income Trap

The article is a contribution to the discussion on the necessity to change the current model of economic growth of Poland for model of economy based on knowledge and innovation. In this way, our country will be able to overcome the threats that might push the economy into the trap of the average income, expressed in long-term slowdown in GDP growth. The endogenous growth theory, formed after 1989 and characterized by duplication of Western technology, enabled relatively rapid growth by over 20 years. Currently, Poland to ensure an economic growth is facing the need for innovative technologies and innovation. Risks associated with middle income trap are very real because of the disappearance of comparative advantage, which results from relatively low labor costs. The creation in Poland conditions to accelerate economic growth requires action to increase the propensity of entrepreneurs to reach for new technologies and innovation and attractive market offer from the national centers for research and development.

Sign in / Sign up

Export Citation Format

Share Document