scholarly journals Neoklassischer Marxismus?

2015 ◽  
Vol 45 (179) ◽  
Author(s):  
Michael Wendl
Keyword(s):  
Political Economy ◽  
Economic Development ◽  
Financial Markets ◽  
Central Banks ◽  
The Other ◽  
Real Economy ◽  
Money Creation ◽  
The One ◽  
Influential Book ◽  
Value Of Money

A couple of years after the outbreak of the financial crisis, a discussion about money creation from a political economy perspective has finally been initiated again, analyzing the interaction between commercial and central banks. Neo-Marxist approaches, though, are to a large extent unaffected by this discussion – which is based on Joseph Schumpeter’s Theory of Economic Development (1911) – or even completely reject the idea of a money-creation out of nothing. Two Neo-Marxist articles are exemplary of this deficit of monetary theories. On the one hand, the influential book Political Economy of Financial Markets (1999) by Jörg Huffschmid, which has constituted the paradigm of capitalism being driven by financial markets. On the other hand Political Economy of Money (2012) by Stephan Krüger, which assumes that the value of money is still based on the respective production of gold. Consequently, these approaches unintended trigger an adherence to the Neoclassical dichotomy of „real economy“ and „monetary sphere“, albeit with different rationales.

scholarly journals Transformation of the Banking Sector of Ukraine: Reasons and Consequences

2017 ◽  
Vol 1 (13) ◽  
pp. 33-48
Author(s):  
Myroslava Khutorna
Keyword(s):  
Economic Development ◽  
Banking Sector ◽  
Financial System ◽  
Market Concentration ◽  
The Other ◽  
Real Economy ◽  
The Real ◽  
Other Hand ◽  
The One

This paper is devoted to the consideration of the preconditions and results of the banking sector of Ukraine transforming, its influence on the sector’s productivity, stability and significance for the real economy. It’s grounded that banking sector of Ukraine has seriously weakened its potential for the economic development stimulation. On the one hand, due to the banking sector clearance from the bad and unscrupulous banks the system has become much more sensitive to the monetary instruments and its state is going to be more predictable and better controlled. But on the other hand, massive banks’ liquidations have caused the worsening of the confidence in financial system and radical increasing of the market concentration the highest degree of which is observed in the householders’ deposit market.

scholarly journals The Impact of the Volume of Deposits and Facilities and Profits on Bank’s Liquidity an Exploratory Study on Jordanian Commercial Banks

2016 ◽  
Vol 8 (2) ◽  
pp. 1
Author(s):  
Taha Barakat AL-shawawreh
Keyword(s):  
Economic Development ◽  
Commercial Banks ◽  
Exploratory Study ◽  
Central Banks ◽  
The Other ◽  
Industrial Project ◽  
Main Driver ◽  
The One ◽  
The Impact ◽  
Additional Income

<p>Banks liquidity is the main driver of banking operations, and the lack of the sufficient liquidity prevents banks from performing their role as a mediator between money owners and funding seekers, in addition to inability to meet the costs of daily operations including employees’ salaries. And this puts the bank in a risky situation threatening the bank survival. So bank liquidity shortage has consequences damages of social and economic. Where this shortage may deprive the funding seeker from establishing a business or industrial project or etc. of projects, which may contribute in economic development in the country in the one hand, and deprive his family from gaining additional income to improve their livelihood from the other hand.</p><p>Therefore, one can find that banks have paying increased attention towards liquidity, and Central Banks Keep on liquidity ratios that banks should keep them. As long as banking deposits facilities, and profits are the actual drives of banks liquidity, this study examines in the effects of these activities on liquidity in Jordanian Commercial banks.</p>

Choice Of Technique And The Volume Of Saving (A Re-Examination Of The Cobb-Douglas Model)

1968 ◽  
Vol 8 (4) ◽  
pp. 606-617
Author(s):  
Mohammad Anisur Rahman
Keyword(s):  
Economic Development ◽  
Production Function ◽  
Development Policy ◽  
Social Goals ◽  
The Other ◽  
Economic Development Policy ◽  
Labour Intensity ◽  
The One ◽  
Choice Of Technique ◽  
The Relationship

The purpose of this paper is to re-examine the relationship between the degree of aggregate labour-intensity and the aggregate volume of saving in an economy where a Cobb-6ouglas production function in its traditional form can be assumed to give a good approximation to reality. The relationship in ques¬tion has an obviously important bearing on economic development policy in the area of choice of labour intensity. To the extent that and in the range where an increase in labour intensity would adversely affect the volume of savings, a con¬flict arises between two important social objectives, i.e., higher rate of capital formation on the one hand and greater employment and distributive equity on the other. If relative resource endowments in the economy are such that such a "competitive" range of labour-intensity falls within the nation's attainable range of choice, development planners will have to arrive at a compromise between these two social goals.

Critical Value-Based Power Options Pricing Problems in Uncertain Financial Markets

2021 ◽  
pp. 2150002
Author(s):  
Guimin Yang ◽  
Yuanguo Zhu
Keyword(s):  
Financial Markets ◽  
Financial Market ◽  
Numerical Experiments ◽  
Critical Value ◽  
The Other ◽  
Options Pricing ◽  
Underlying Asset ◽  
Pricing Problems ◽  
Fractional Differential ◽  
The One

Compared with investing an ordinary options, investing the power options may possibly yield greater returns. On the one hand, the power option is the best choice for those who want to maximize the leverage of the underlying market movements. On the other hand, power options can also prevent the financial market changes caused by the sharp fluctuations of the underlying assets. In this paper, we investigate the power option pricing problem in which the price of the underlying asset follows the Ornstein–Uhlenbeck type of model involving an uncertain fractional differential equation. Based on critical value criterion, the pricing formulas of European power options are derived. Finally, some numerical experiments are performed to illustrate the results.

China's Universities since Tiananmen: A Critical Assessment

1993 ◽  
Vol 134 ◽  
pp. 291-309 ◽  
Author(s):  
Ruth Hayhoe
Keyword(s):  
Social Sciences ◽  
Economic Development ◽  
Technological Development ◽  
Critical Assessment ◽  
The Other ◽  
Western Countries ◽  
Western Influences ◽  
The One ◽  
Considerable Support ◽  
Scientific And Technological Development

China's present leadership sees universities as being of key importance for the country's economic development and for its relationship with Western countries. This is a kind of two-edged sword. On the one hand, considerable support and encouragement for scientific and technological development is provided, together with pressures for scientific findings to be applied to specific economic development needs. On the other, the reflective and theoretical social sciences and the humanities are being purged of Western influences in efforts to mobilize all resources against what is seen as the Western strategy of fostering “peaceful evolution” towards capitalism. The kinds of tension that arise out of this highly contradictory situation are severe.

scholarly journals Money creation and the revolution. Along the Path to Real Change

2021 ◽  
pp. 429-443
Author(s):  
Roddy A. Stegeman
Keyword(s):  
The Other ◽  
On Demand ◽  
Time Deposit ◽  
Real Change ◽  
Demand Deposit ◽  
Money Creation ◽  
The One ◽  
The Right ◽  
Fixed Period ◽  
Binding Agreement

When you store your belongings in a private locker, does the owner of the locker pay you? On the contrary, you pay the owner, for he is providing you with a service called safe-keeping. In effect, the owner holds your belongings safe until you take them back. So, why is it that you accept money from a bank to hold your money for you? The obvious answer is that the bank is not holding your money; it is lending it out and rewarding you with a portion of what it collects in interest. If you are happy with this arrangement, you have likely sought out a bank in your neighborhood that provides you with the greatest return on your deposit. Unfor tunately, there are several things very wrong with this type of transaction. Most important is that you are engaging in a tran saction that is commercially unsound. You and your bank engage in a legally non-binding agreement when, on the one hand, your bank promises to return your deposit on demand, and on the other hand, loans a portion of it to others for a specified period of time. Contractually, these two acts are incompatible, as the same money cannot be both a de-mand deposit and a loan simultaneously. Either, you deposit your money, reserve the right to de-mand it back at any moment, and pay the bank for holding it on your behalf. This is called a demand deposit. Or, you surrender your right to your money for a specific period of time, permit your bank to lend it to others, and receive interest for your risk and sacrifice. This is called a time deposit. Commercially, treating your demand deposit as money that can be loaned to others is not an enforceable contract, for the law insists that there must be mutual assent when two parties enter into an agreement. You and the bank are simply at odds when you expect to retrieve your money at any moment on demand, and the bank lends a portion of it to others for a fixed period. Legally speaking, both parties to the transaction do not agree to the same contractual terms in the same sense.

scholarly journals ОСОБЕННОСТИ СТОИМОСТНОГО ПОДХОДА В УПРАВЛЕНИИ БИЗНЕСОМ В УСЛОВИЯХ ЦИФРОВОЙ ЭКОНОМИКИ

2020 ◽  
Vol 2 (30) ◽  
pp. 116-131
Author(s):  
Александр Харин ◽  
Keyword(s):  
Economic Development ◽  
Business Process Management ◽  
Process Management ◽  
Business Management ◽  
The Other ◽  
Value Based Management ◽  
Socio Economic Development ◽  
Key Features ◽  
The One ◽  
Is Value

One of the universal and effective methods of business management is value-based management. This method of management, on the one hand, is able to widely use the achievements of the digital economy, and on the other hand, most accurately reflects its specifics. This article discusses models for managing a digital business based on its value. Our research reveals the principles of construction and key features of these models. The result of our work is the conclusion that the future of business process management, as well as the prospects for further socio-economic development of our country, are related to the digitalization of its economy

‘Growth’, Economic and Human: Reconstructing Economics through Pragmatism and the Capabilities Approach

2019 ◽  
Vol 16 (2-3) ◽  
pp. 286-306
Author(s):  
Kenneth W. Stikkers
Keyword(s):  
Economic Development ◽  
Capabilities Approach ◽  
The Other ◽  
Thorstein Veblen ◽  
The One ◽  
Growth Economic

Economist Amartya Sen’s and philosopher Martha Nussbaum’s capabilities approach to economic development enjoys global attention, and there has been considerable interest in connections between it and pragmatism. 1 This paper argues, first, that there are indeed strong, productive affinities between Sen’s and Nussbaum’s understanding of ‘capabilities’ in rethinking how economies are to be developed and measured, on the one hand, and John Dewey’s notion of ‘growth’ and applications of pragmatism to economics, by economists such as Thorstein Veblen, John Commons, and, more recently, Daniel Bromley, to rethink and to reconstruct their discipline, on the other. Second, the paper suggests that Dewey’s notion of ‘growth’ can do much to strengthen and to deepen Sen’s and Nussbaum’s “capabilities approaches” to economics. Third, it suggests that Dewey enriches notions of ‘science’ and ‘democracy’, which are largely underdeveloped in capabilities approaches.

scholarly journals Disproportional Ownership Devices: Reviewing the Last 25 Years of Research

2016 ◽  
Vol 11 (4) ◽  
pp. 22 ◽  
Author(s):  
Sara Saggese ◽  
Fabrizia Sarto
Keyword(s):  
Financial Markets ◽  
Policy Making ◽  
Civil Law ◽  
The Other ◽  
Main Research ◽  
The One ◽  
Lock In ◽  
Practical Implications ◽  
Scholarly Attention ◽  
Over Time

<p>The paper aims to systematize the literature on disproportional ownership devices by reviewing and classifying 148 articles published in international academic journals over the last 25 years. The findings show that the scholarly attention on disproportional ownership devices has grown over time. Most papers adopt the agency framework and examine the mechanisms for leveraging voting power and to lock-in control, especially in civil law countries. Corporate governance journals prevail as leading outlets, despite the lack of publications specialized on the topic. Finally, the literature systematization highlights a research taxonomy based on outcomes and drivers of disproportional ownership devices. The article has both theoretical and practical implications. First, it develops a literature framework that systematically outlines the main research streams on the topic and identifies under-explored issues so as to guide future scholarly efforts. Second, it highlights the implications of disproportional ownership devices for company outcomes and reporting. Thereby, on the one hand, it supports managers in selecting the appropriate combination of these mechanisms so as to attract and retain investors. On the other hand, it emphasizes the importance of proper policy making interventions to improve transparency, openness and competitiveness of financial markets.</p>

Traditional authority and bargaining for legitimacy in dual legitimacy systems

2019 ◽  
Vol 57 (2) ◽  
pp. 273-296 ◽  
Author(s):  
Carol Mershon ◽  
Olga Shvetsova
Keyword(s):  
Political Economy ◽  
Social Science ◽  
Southern Africa ◽  
The Other ◽  
Traditional Authority ◽  
Traditional Leaders ◽  
Traditional Authorities ◽  
The One ◽  
Authority Structures

ABSTRACTThis paper investigates the quest for legitimacy conducted by hereditary, traditional leaders in dual legitimacy systems. We theorise that traditional leaders engage in meta-constitutional bargaining, i.e. bargaining among constitutionally and traditionally defined actors within the meta-constitutional space. This process resembles constitutional bargaining in federations over the institutional balance between the members and centre, and among members. We thus propose a parallel between the theory of federal bargaining, on the one hand, and, on the other, the process of institutional balancing between agents in constitutional and traditional authority structures in dual legitimacy systems. Evidence from narratives of institutional balancing between constitutional and traditional authorities in Southern Africa suggests that actors’ strategies in dual legitimacy systems accord with the framework here. The narratives also disclose that both constitutional and traditional authorities rely on the state's courts for adjudication. The paper enriches social science scholarship on traditional authority, political economy and federalism.

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