scholarly journals A Primary Comparative Analysis and Integration of the Hayekian- Laozian Theories of Knowledge, Market Process and Law

2019 ◽  
pp. 125-145
Author(s):  
William Hongsong Wang ◽  
Javier Car Amés Sánchez
Keyword(s):  
Comparative Analysis ◽  
Market Competition ◽  
Jel Classification ◽  
Market Process ◽  
Palabras Clave ◽  
Original Works ◽  
Modern Economic ◽  
Chinese Texts ◽  
Political Economic ◽  
Knowledge Market

The thought of Hayek has been a topic of considerable interest for a while now and the studies of Laozi’s philosophy have also been drawing increasing attention worldwide. In particular, increasingly people seek answers to current political, economic and social questions within Laozi’s wis- dom of more than 2000 years ago. By comparing and integrating the theo- ries of Hayek and Laozi, this paper uncovers new insights into the ideas of Laozi and how they align with some of Hayek’s central ideas. Firstly, this arti- cle makes a comparative analysis of the theories of Hayek and Laozi based on their original works, particularly through the authors’ new translation of the original Chinese texts of Laozi. Further, this paper shows how the ideas of authors overlap and are complimentary and therefore proposes a Hayekian-Laozian perspective that informs the idea of entrepreneurship. Therefore, this paper not only seeks to show that Laozi anticipated modern economic insights but that these modern insights can also be integrated into a more detailed theory. Keywords: Hayek, Laozi, market competition, Daodejing. JEL classification: A12, D4, B11, B22, B53, D83, K2, L26. Resumen: El pensamiento de Hayek ha sido un tema de considerable interés desde hace tiempo y los estudios de la filosofía de Laozi también están lla- mando una creciente atención a nivel global. En particular, las personas cada vez buscan más respuestas a cuestiones políticas, económicas y socia- les actuales dentro de la sabiduría de Laozi de hace más de 2000 años. Comparando e integrando las teorías de Hayek y Laozi, este trabajo descu- bre nuevas perspectivas en las ideas de Laozi y cómo se alinean con algu- nas de las ideas centrales de Hayek. En primer lugar, este artículo hace un análisis comparativo de las teorías de Hayek y Laozi basado en sus trabajos originales, en particular a partir de la nueva traducción de los textos origi- nales en chino de Laozi llevada a cabo por los autores de este trabajo. Ade- más, este trabajo muestra cómo las ideas de ambos autores se solapan y son complementarias y por tanto propone una persepctiva hayekio-laoziana sobre la idea de empresarialidad. Así, este trabajo no sólo busca poner de manifiesto que Laozi anticipó conocimientos económicos modernos, sino también que estos conocimientos modernos pueden integrarse en una teoría más detallada. Palabras clave: Hayek, Laozi, competencia de mercado, Daodejing. Clasificación JEL: A12, D4, B11, B22, B53, D83, K2, L26.  

scholarly journals Intervención coactiva en el mercado: procesos, modalidades y efectos

2021 ◽  
pp. 165-197
Author(s):  
Jorge Bueso Merino
Keyword(s):  
Key Words ◽  
Jel Classification ◽  
Market Process ◽  
Fractional Reserve Banking ◽  
Fractional Reserve ◽  
Palabras Clave ◽  
Reserve Banking

Developing Böhm-Bawerk’s (1914) Macht oder ökonomisches Ge-setz, we characterize the different intervention modalities as coercive «fixing» of prices, goods (quantities or modes of performing) or persons, also with their effects. Given that the subjective but real forces underlying market processes respond with effects which are opposite to those pursued, the «intervener» or controller would be induced to an in crescendo «fixing» of more and more as-pects of reality. We also show fractional reserve (banking) as another kind of intervention, since it produces or induces the same effects, including a call to implement monopolistic schemes. Key words: Market Process, Böhm-Bawerk, Intervention, Rothbard, Fractional Reserve JEL Classification: B41, B53, D42, D43, D45, L43, L51, G01 Resumen: En desarrollo del trabajo póstumo de Böhm-Bawerk (1914) Macht oder ökonomisches Gesetz, se caracterizan los diferentes tipos de intervención en tanto que «fijación» coactiva de precios, bienes (cantidades o modos de hacer) o personas, junto con sus efectos correspondientes. Como las fuerzas subjetivas pero reales que mueven los procesos de mercado originan efectos contrarios a los eventualmente deseados, el«interventor» se ve inducido a fijar sucesivamente cada vez más aspectos de la realidad. También se muestra a la reserva fraccionaria como otra modalidad más, que produce e induce los mismos efectos, incluido la llamada a implementar esquemas monopolísticos Palabras clave: Proceso de Mercado, Böhm-Bawerk, Intervención, Rothbard, Reserva Fraccionaria Clasificación JEL: B41, B53, D42, D43, D45, L43, L51, G01

scholarly journals Minsky’s Financial Instability Hypothesis vs. Austrian Business Cycle Theory

2018 ◽  
pp. 155-186
Author(s):  
Olga Peniaz
Keyword(s):  
Comparative Analysis ◽  
Interest Rate ◽  
Business Cycle ◽  
Empirical Studies ◽  
Jel Classification ◽  
Financial Instability ◽  
Business Cycle Theory ◽  
Austrian Business Cycle Theory ◽  
Palabras Clave ◽  
Austrian Business Cycle

This article represents a detailed theoretical analysis, focusing on two heterodox theories: the Minsky’s Financial Instability Hypothesis and the Aus- trian Business Cycle Theory, particularly in the light of the 2008 crisis. It provi- des a theoretical comparative analysis of these theories and a review of the empirical studies of two approaches. Keywords: Economic crisis, interest rate, austrian business cycle theory, finan- cial instability hypothesis. JEL Classification: E32, E44, E52, E58. Resumen: Este artículo ofrece un análisis teórico detallado, centrado en dos teorías heterodoxas: la Hipótesis de la Inestabilidad Financiera de Minsky y la Teoría Austríaca del Ciclo Económico, especialmente en vista de la crisis de 2008. Este trabajo proporciona un análisis comparativo teórico de estas teo- rías y una revisión de los estudios empíricos de ambos enfoques. Palabras clave: Crisis económica, tipo de interés, teoría austriaca del ciclo eco- nómico, hipótesis de inestabilidad financiera. Clasificación JEL: E32, E44, E52, E58.

scholarly journals Representing the victorious past: Chinese revolutionary TV drama between propaganda and marketization

2021 ◽  
pp. 016344372110227
Author(s):  
Yingzi Wang ◽  
Thoralf Klein
Keyword(s):  
Comparative Analysis ◽  
The Other ◽  
Market Reforms ◽  
Fictional Characters ◽  
Production Environment ◽  
Cultural Transformations ◽  
The One ◽  
Political Economic ◽  
Revolutionary History ◽  
Over Time

This paper examines the changes and continuities in TV representations of Chinese Communist Party’s revolutionary history and interprets them within the broader context of China’s political, economic and cultural transformations since the 1990s. Drawing on a comparative analysis of three state-sponsored TV dramas produced between the late 1990s and mid-2010s, it traces how the state-sanctioned revolutionary narratives have changed over time in response to the Party’s propaganda imperatives on the one hand, and to the market-oriented production environment on the other. The paper argues that while recent TV productions in the new century have made increasing concessions to audience taste by adopting visually stimulating depictions and introducing fictional characters as points of identification for the audience, the revolutionary narratives were still aligned with the Party’s propaganda agenda at different times. This shows the ongoing competition between ideological and commercial interests in Chinese TV production during the era of market reforms.

Gender Norms and Household Labor: Time Use in the Context of Social Class Differentiation in Transitional China

2021 ◽  
pp. 048661342199044
Author(s):  
Wei Zhang ◽  
Zhun Xu
Keyword(s):  
Social Class ◽  
Time Allocation ◽  
Rural Women ◽  
Jel Classification ◽  
Market Process ◽  
Nutrition Survey ◽  
Policy Makers ◽  
Health And Nutrition ◽  
The Social ◽  
Transitional China

This paper studies the historical evolution of China’s gender relations through the lens of housework time allocation. In particular, we highlight the role played by social class and income. Drawing upon data from the Chinese Health and Nutrition Survey, we find that during the period 1991–2011, being a peasant or earning less than the spouse was increasingly associated with a higher share of housework. The market process appears to have indirectly improved the social status of women (most likely rural women) married to peasant husbands as measured by the former’s declining housework share. Such changes, however, have not challenged traditional patriarchal norms in the countryside and have even facilitated the rise of a new market-based patriarchy. Policy makers should empower women by tackling the different faces of patriarchy as a whole. JEL Classification: B51, J16, P16

El lenguaje como institución. Una aproximación de su función evolutiva, económica y política desde una perspectiva austriaca

2021 ◽  
pp. 305-340
Author(s):  
Nicolás Daniel Fernández Álvarez
Keyword(s):  
Key Words ◽  
Oral Communication ◽  
Jel Classification ◽  
Spontaneous Order ◽  
De Re ◽  
Linguistic Rights ◽  
Palabras Clave ◽  
The World ◽  
The One ◽  
Linguistic Problem

In this paper, we try to give a different perspective to the one that has been studied and offered in linguistics until now. Language starts as the main form of oral communication that is transmitted from generation to generation. Language is in constant evolution. One of the greatest evolutions in the linguistic field has been precisely writing. It represented perfectly the union of graphic ideas and concepts with the beginning of the religious beliefs. We also try to analyze which are the causes and consequences of interventionism in something as personal and private as language. We will try to demonstrate how socialism, even in linguistics, distorts the correct evolution of lan guage, remembering the Universal Declaration of Linguistic Rights (1996) whose consequence is the strengthening of various nationalisms around the world. Finally, conclusions and solutions will be given to a very specific linguistic problem: Spain. Key words: Socialism, planification, spontaneous order, evolution, linguistics, language, pidgin, nationalism, economy, institution. JEL Classification: A1 (General Economics) → A12 (Relation of Economics to other Disciplines). Resumen: Este artículo pretende abordar una perspectiva diferente a la que se viene estudiando y ofreciendo en lingüística, pues el lenguaje comienza a forjarse como forma de comunicación oral que se transmite de generación en generación y que no deja de evolucionar. Está en constante evolución. Una de las mayores evoluciones en el campo de la lingüística fue precisamente la escritura que representaba a la perfección la unión de ideas o conceptos de forma gráfica y el comienzo de las creencias religiosas. En este mismo artículo analizamos cuáles son las causas de una interven - ción desde los poderes públicos en algo tan personal e intransferible como el len guaje, así como sus posibles consecuencias. Intentaremos, pues, demos - trar cómo el socialismo en materia lingüística (o su imposibilidad) distorsiona la correcta evolución del lenguaje, comenzando por la Declaración de De - re chos Lingüísticos del año 1996 que no ha hecho sino fortalecer un gran nú mero de nacionalismos a lo largo y ancho del globo terráqueo. Finalmente, intentaremos humildemente extraer conclusiones y poner posibles soluciones en un ejemplo muy concreto: España. Palabras clave: Socialismo, planificación, órden espontáneo, evolución, lingüística, lenguaje, pidgin, nacionalismo, economía, institución. Clasificación JEL: Dentro de A1 (General Economics), el apartado A12 (Rela tion of Economics to other Disciplines).

scholarly journals The business cycle: a definition

2021 ◽  
pp. 205-262
Author(s):  
Tuur Demeester
Keyword(s):  
Business Cycle ◽  
Jel Classification ◽  
Austrian School ◽  
Methodological Framework ◽  
The Core ◽  
Palabras Clave ◽  
The Business Cycle ◽  
Necessary And Sufficient ◽  
Counter Argument

The goal of this article is to properly define the economic phenomenon of the business cycle. The text is rooted in the tradition of the Austrian School of Economics, and the methodological framework builds on concepts developed by Aristotle and Thomas Aquinas. This leads to the development of a few new methodological concepts, such as a re-interpretation of «inflation» and «deflation», and the re-introduction of «imaginary goods» as an important social phenomenon. The core observation of the article is that the business cycle is in fact a subclass of another kind of cycle, the «fraud cycle». Our conclusion is that in order to produce a business cycle, the occurrence of institutional fraud in the sphere of money and banking are both necessary and sufficient. The counter-argument that honest banking can also produce business cycles is refuted in Appendix I. We believe this article is significant in two ways: 1) it provides an unambiguous recipe for the long term extermination of the business cycle; and 2) it helps expand the scope of the Austrian School beyond economics into fields of law and morality. Key words: Business Cycle, Fraud Cycle, Austrian School, money and banking. JEL Classification: B53, B49, D01, K13. Resumen: El objetivo de este artículo es definir apropiadamente el fenómeno económico del ciclo económico. El resto está enraizado en la tradición de la Escuela Austriaca de Economía, y el marco metodológico parte de los conceptos desarrollados por Aristóteles y Tomás de Aquino. Esto conduce al desarrollo de algunos conceptos metodológicos nuevos, tales como la reinterpretación de la «inflación» y la «deflación», y la reintroducción de los «bienes imaginarios» como un fenómeno social importante. La observación central de este artículo es que el ciclo económico es de hecho una subclase de otro tipo de ciclo, el «ciclo del fraude». Nuestra conclusión es que para producir un ciclo económico, la existencia de un fraude institucional en la esfera del dinero y la banca es una condición necesaria y suficiente. El Apéndice I refuta el contra-argumento de que una banca honesta también puede producir ciclos económicos. Creemos que este artículo es significativo por dos motivos: 1) ofrece una receta clara para la eliminación del ciclo económico; y 2) ayuda a expandir el ámbito de la Escuela Austriaca más allá del campo de la Economía hacia los campos del Derecho y la Moralidad. Palabras clave: Ciclo económico, ciclo del fraude, Escuela Austriaca, dinero y banca. Clasificación JEL: B53, B49, D01, K13.

scholarly journals Study of the effects on employment of public aid to renewable energy sources

2021 ◽  
pp. 13-70
Author(s):  
Gabriel Calzada Álvarez ◽  
Raquel Merino Jara Jara ◽  
Juan Ramón Rallo Julián ◽  
José Ignacio García Bielsa
Keyword(s):  
Renewable Energy ◽  
Renewable Energy Sources ◽  
Jel Classification ◽  
Economic Planning ◽  
Renewable Energies ◽  
Energy Sources ◽  
Green Jobs ◽  
Job Destruction ◽  
Palabras Clave ◽  
Public Aid

Economic crisis has raised the topic of whether governments should control the economy in order to promote prosperity and create jobs. This idea has specially sprung in relation to the promotion of entire productive sectors which are considered strategic or high-value by planners, one of which is renewable energies. This article analyzes the Spanish experience on subsidizing wind, mini-hydroelectric and photovoltaic energies in order to foster growth and create so-called «green jobs». Results suggest that more jobs are destroyed than those that initially were intended to be created. Key words: Renewable energies, subsidies, job destruction, economic planning, spending stimulus. JEL Classification: E24; E32; H25; H44; O13; Q42; Q43; Q48. Resumen: La crisis económica ha planteado la cuestión de si los gobiernos deberían controlar la economía para promover la prosperidad y crear empleo. Esta idea ha surgido especialmente en relación a la promoción de sectores productivos enteros que se consideran estratégicos o de alto valor por los planificadores, como el sector de las energías renovables. Este artículo analiza la experiencia española en relación con la subvención de las energías eólica, hidroeléctrica y fotovoltaica para impulsar el crecimiento y crear los llamados «empleos verdes». Los resultados sugieren que se destruyen más empleos de los que inicialmente se pretendía crear. Palabras clave: Energías renovables, subvenciones, destrucción de empleos, planificación económica, estímulos de gasto. Clasificación JEL: E24; E32; H25; H44; O13; Q42; Q43; Q48.

scholarly journals Two theoretical approaches to human behavior and social institutions

2021 ◽  
pp. 13-50
Author(s):  
Javier Aranzadi del Cerro
Keyword(s):  
Market Economy ◽  
Social Institutions ◽  
Dynamic Structure ◽  
Chicago School ◽  
Human Action ◽  
Jel Classification ◽  
Market Process ◽  
Ludwig Von Mises ◽  
Theoretical Approaches ◽  
Von Mises

This paper deals with theoretical approaches to the real economic crisis we are suffering. I set out the poverty of the theoretical solutions offered by mainstream neoclassical economics and the necessity of a new theoretical approach, which is not obsessed by the positivist method. My argument is based on the work of Ludwig von Mises who was considered to give the best theoretical arguments in the debate on the impossibility of efficient economic calculation under centrally planned socialism. Although nowadays the Austrian School is considered old-fashion and lacking in scientific rigour, I agree with the late Professor Sumantra Ghoshal that it is necessary to escape from strait-jacketed methods and try to understand real economics problems. Our market economy is suffering from what he described as the consequences of bad theories destroying good entrepreneurial practices. For I do think that the triumph over communism is in danger of becoming a Pyrrhic victory if we lose our understanding of the market economy and its dynamic structure based on entrepreneurs and firms. Key words: Human action, Ludwig von Mises, Chicago School, entrepre - neurship, market process, social institutions. JEL Classification: A10; B41; B53; D00. Resumen: Este artículo compara los modelos teóricos con los que se analiza la crisis económica que estamos sufriendo. Planteo la pobreza teórica ofrecida por el paradigma neoclásico dominante y defiendo la necesidad de nuevas aproximaciones teóricas que no estén obsesionadas por el método positivista. Mi argumento se basa en la obra de Ludwig von Mises quien fue considerado el economista que esgrimió los mejores argumentos tóricos en el debate sobre la imposibilidad de una cálculo económico eficiente en una económica de planificación central. Aunque hoy en día se considera que la Escuela Austriaca está pasada de moda y falta de rigor científico, estoy de acuerdo con el difunto profesor Sumantra Ghoshal sobre la necesidad de abandonar los métodos encorsetados e intentar comprender los problemas económicos reales. Nuestra economía de mercado está sufriendo las consecuencias de lo que él describe como malas teorías que destruyen buenas prácticas empresariales. Son estas las razones por las que pienso que el triunfo sobre el comunismo está en riego de convertirse en una victoria pírrica si perdemos nuestra comprensión de la economía de mercado y su estructura dinámica basadas en la empresarialidad y la empresa privada. Palabras clave: Acción humana, Ludwig von Mises, Escuela de Chicago, empresarialidad, proceso de mercado, instituciones sociales. Clasificación JEL: A10; B41; B53; D00.

scholarly journals The Influence of the Dimensions of Service Quality on Customer Satisfaction at Hotels in Batu City, Indonesia

2017 ◽  
Vol 2 (3) ◽  
pp. 67-72
Author(s):  
Ludfi Djajanto
Keyword(s):  
Customer Satisfaction ◽  
Service Quality ◽  
Market Competition ◽  
Linear Regression Analysis ◽  
Original Data ◽  
Multiple Linear Regression Analysis ◽  
Jel Classification ◽  
Dominant Dimension ◽  
Analysis Technique

Objective - The number of hotels in both urban or in tourism areas has increased quite rapidly. The success and sustainability of hotel businesses is largely determined by their marketing strategy and the quality of services they provide to their customers. In choosing a hotel, customers consider both the physical appearance of the hotel as well as the quality of service provided. The rapid increase in hotels in Indonesia necessarily increases competition in the hotel industry and the rules surrounding market competition become quite strict. The aim of this research is to determine the influence of the dimensions of service quality (tangibility, reliability, responsiveness, assurance, and empathy) on customer satisfaction and to identify the most dominant dimension in terms of customer satisfaction. Methodology/Technique - The research studied 110 respondents who have stayed in several hotels located in Batu, Indonesia. The data was collected using purposive sampling techniques using questionnaires. The data analysis technique used in this research was multiple linear regression analysis. Findings – Based on the results of this research, it is concluded that the dimensions of service quality (tangibility, reliability, responsiveness, assurance, empathy) have a significant influence on customer satisfaction. In addition, the service quality dimension that has the most dominant influence on customer satisfaction is assurance. Novelty - The research supported by original data and contribute to the literature in the context of Indonesia. Type of Paper - Empirical Keywords: Service Quality; Tangibility; Reliability; Responsiveness; Assurance; Empathy; Customer Satisfaction. JEL Classification: L15, M10, M30.

scholarly journals Do impresso ao digital: a história do Jornal do Brasil

2016 ◽  
Vol 2 (2) ◽  
pp. 230
Author(s):  
Ana Cristina Menegotto Spannenberg ◽  
Cindhi Vieira Belafonte Barros
Keyword(s):  
Comparative Analysis ◽  
Literature Review ◽  
Key Words ◽  
Descriptive Analysis ◽  
Digital Platform ◽  
Palabras Clave ◽  
Digital Journalism ◽  
History Of ◽  
Press History ◽  
History Of Journalism

O trabalho propõe uma análise comparativa dos formatos impresso e online do Jornal do Brasil (JB), a fim de investigar as transformações no perfil editorial do periódico a partir de sua transição definitiva para a plataforma digital, que ocorreu em 2010. Ao todo, foram analisadas 14 publicações do JB, entre impressas e digitais, buscando uma análise comparativa das edições nas duas mídias. O presente artigo apresenta um resgate da história do JB. Além disso, expõe a análise descritiva, com base nos indicadores de identidade levantados em revisão bibliográfica específica e, posteriormente, apresenta os resultados obtidos, tecendo comparações entre os formatos. Palavras-chave: Jornal do Brasil; Jornalismo Digital; Jornalismo Impresso; Imprensa; História do Jornalismo.  Abstract: The paper proposes a comparative analysis of printed and online formats of Jornal do Brazil (JB) in order to investigate the changes in the journal's editorial profile from its final transition to the digital platform, which took place in 2010. Altogether, 14 JB issues were analyzed, both printed and digital ones. This article presents a bailout in the history of JB. In addition, it presents the descriptive analysis, based on the identity indicators raised in specific literature review and subsequently presents the results obtained, weaving comparisons between formats. Key-words: Jornal do Brasil; Digital Journalism, Journalism Printed; Press; History of Journalism.  Resumen:El documento propone un análisis comparativo de los formatos impresa y electrónica de Jornal do Brasil (JB) con el fin de investigar los cambios en el perfil editorial del diario de su transición final a la plataforma digital, que tuvo lugar en 2010. En total, el estudio analizó 14 publicaciones de JB entre impresos y digitales, para esbozar un análisis comparativo de los temas en los dos medios. En este artículo se presenta un plan de rescate en la historia de JB. Además, se presenta el análisis descriptivo, basado en la identidad de los indicadores planteados en revisión de la literatura específica y, posteriormente, presenta los resultados obtenidos, tejiendo las comparaciones entre los formatos. Palabras clave: Jornal do Brasil; Periodismo digital; Periodismo de impresión; Prensa; Historia del periodismo.

Sign in / Sign up

Export Citation Format

Share Document