Technological And Social Factors In Long Term Fluctuations
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| Author | : Massimo Di Matteo |
| Publisher | : Springer Science & Business Media |
| Total Pages | : 455 |
| Release | : 2012-12-06 |
| Genre | : Business & Economics |
| ISBN | : 3642483607 |
1. The Idea behind the workshop was that of calling attention to the necessity of studying long term tendencies In economic growth. We believe that actual growth processes In capitalistic economies are not smooth phenomena and also that the evolution of the economy Is characterized by long term fluctuations as well as by trade cycles. It Is now common place to argue that this point of view was revived after 1973 In consequence of the economic difficulties experienced by Industrialized countries while It has a much older origin as Its roots can be pushed back at least to the Great Depression of the 1930's. In preparing this workshop we selected two main approaches (as reflected In the title of this book) that have been proposed In the last ten years to deal with the causes of long term fluctuations, namely the ··technologlcal"' (or neo SchumpeterlanLapproach and the "'social"' approsch. What follows Is simply a rough characterization of the existing theoretical positions and It Is not meant to be an exhaustive one. The Interested reader will Immediately see that there are many differentiated positions by looking at the arguments contained In each contribution.
| Author | : Thomas Marmefelt |
| Publisher | : Routledge |
| Total Pages | : 279 |
| Release | : 2018-08-30 |
| Genre | : Business & Economics |
| ISBN | : 1136728252 |
Today, most money is credit money, created by commercial banks. While credit can finance innovation, excessive credit can lead to boom/bust cycles, such as the recent financial crisis. This highlights how the organization of our monetary system is crucial to stability. One way to achieve this is by separating the unit of account from the medium of exchange and in pre-modern Europe, such a separation existed. This new volume examines this idea of monetary separation and this history of monetary arrangements in the North and Baltic Seas region, from the Hanseatic League onwards. This book provides a theoretical analysis of four historical cases in the Baltic and North Seas region, with a view to examining evolution of monetary arrangements from a new monetary economics perspective. Since the objective exhange value of money (its purchasing power), reflects subjective individual valuations of commodities, the author assesses these historical cases by means of exchange rates. Using theories from new monetary economics , the book explores how the units of account and their media of exchange evolved as social conventions, and offers new insight into the separation between the two. Through this exploration, it puts forward that money is a social institution, a clearing device for the settlement of accounts, and so the value of money, or a separate unit of account, ultimately results from the size of its network of users. The History of Money and Monetary Arrangements offers a highly original new insight into monetary arrangments as an evolutionary process. It will be of great interest to an international audience of scholars and students, including those with an interest in economic history, evolutionary economics and new monetary economics.
| Author | : Brishen Rogers |
| Publisher | : MIT Press |
| Total Pages | : 289 |
| Release | : 2023-03-21 |
| Genre | : Law |
| ISBN | : 026237336X |
An exploration of how major companies have used advanced information technologies to limit worker power, and how labor law reform could reverse that trend. As our economy has shifted away from industrial production and service industries have become dominant, many of the nation's largest employers are now in fields like retail, food service, logistics, and hospitality. These companies have turned to data-driven surveillance technologies that operate over a vast distance, enabling cheaper oversight of massive numbers of workers. Data and Democracy at Work argues that companies often use new data-driven technologies as a power resource—or even a tool of class domination—and that our labor laws allow them to do so. Employers have established broad rights to use technology to gather data on workers and their performance, to exclude others from accessing that data, and to use that data to refine their managerial strategies. Through these means, companies have suppressed workers' ability to organize and unionize, thereby driving down wages and eroding working conditions. Labor law today encourages employer dominance in many ways—but labor law can also be reformed to become a tool for increased equity. The COVID-19 pandemic and subsequent Great Resignation have indicated an increased political mobilization of the so-called essential workers of the pandemic, many of them service industry workers. This book describes the necessary legal reforms to increase workers' associational power and democratize workplace data, establishing more balanced relationships between workers and employers and ensuring a brighter and more equitable future for us all.
| Author | : Michio Morishima |
| Publisher | : Cambridge University Press |
| Total Pages | : 228 |
| Release | : 1994-03-25 |
| Genre | : Business & Economics |
| ISBN | : 9780521466387 |
Contemporary general equilibrium theory is characteristically short-run, separated from monetary aspects of the economy, and as such does not deal with long-run problems such as capital accumulation, innovation, and the historical movement of the economy. These phenomena are discussed by growth theory, which assumes a given or shifting production function, and in turn cannot therefore deal with the fundamental problem of growth, namely how the production function is derived. Thus traditional theories have a common weakness in that they divorce real economic growth from the activities of the financial sector. This book provides a much-needed synthesis of growth theory and monetary theory. Professor Morishima draws on the work of Schumpeter, Keynes and the pre-war neoclassical economists to formulate a capital-theoretic general equilibrium theory.
| Author | : Mümtaz Keklik |
| Publisher | : Routledge |
| Total Pages | : 198 |
| Release | : 2018-02-06 |
| Genre | : Business & Economics |
| ISBN | : 1351753924 |
This title was first published in 2003. Bringing together contemporary innovation pattern theories inspired by the two original patterns developed by Joseph A. Schumpeter, this book develops an innovative new model of long wave aggregate level economic activity. This model is rigorously tested with post-war US manufacturing data, revealing an intriguing correlation between the data and the model. The book examines different theories of technological change, and provides a detailed account of the long wave which makes use of the relevant aspects of these theories, without betraying their main features and messages. These theories are synthesized and shown to be consistent with the development of post-war US manufacturing. Shedding light on the dynamics of the technological advances that have taken place in the last 20 years, economists and students alike will find this volume an invaluable read.
| Author | : Joan Esteban |
| Publisher | : Springer Science & Business Media |
| Total Pages | : 209 |
| Release | : 2012-12-06 |
| Genre | : Business & Economics |
| ISBN | : 3642467555 |
In this book overlapping generations economies are analysed from a game theoretical point of view and the social acceptability of consumption allocations is studied in infinite horizon models of pure exchange economieswith agents with finite lifetimes who behave cooperatively. The core of such economies and its relation with competitive equilibria, both walrasian and monetary and the essential characteristics of the overlapping generations model are examined. The author defines the problem of trust in intertemporal consumption allocations as a question of belonging or not to the core of economy and provides a full characterization of the core allocations for n-goods pure exchange economies with one agent per generation: a consumption allocation belongs to the core if and only it is Pareto optimal and Sequentially Individually Rational. From this it follows that for one commodity economies no consumption allocation involving intertemporal transfers can belong to the core of the economy. In other words, no monetary equilibrium is socially viable. This result is no longer true for many goods models. For that case it is demonstrated that there exist bounds on the real value of equilibrium money purchases beyond which monetary equilibria are not socially viableand with many agents in every generation it is shown that as the economy becomes large and monetary (as well as IOU) equilibria become eventually excluded from the core of the economy. These results provide an analytical rationale for the fact that in most countries fiat money is legal tender.
| Author | : Wulf Gaertner |
| Publisher | : Springer Science & Business Media |
| Total Pages | : 142 |
| Release | : 2013-06-29 |
| Genre | : Business & Economics |
| ISBN | : 3662028115 |
It is probably fair to say that there does not exist a unique and generally accepted not ion of justice. Even if one confines oneself to economic justice one can still get many answers to the question of how justice - henceforth we shall use the term "distributive justice" should be defined and characterized. This may be disappointing for the outside observer but one can also view this as achallenge, at least as long as one thinks that distributive justice is an issue economics should be concerned with. Many problems of distributive justice can be described as follows: There is a fixed collection of well-defined objects (usually commodi ties) which are quantitatively measurable and perfectly divisible. This collection is to be divided up among a certain number of individuals, the members of society, let 's say. According to which principles or rules should this distribution be carried out? Should people be rewarded according to their ability or according to their needs? Should the distribution be such that nobody envies the bundle of any other member of society? Should the collection of entities be distributed in a way that yields the greatest benefi.
| Author | : Günter Haag |
| Publisher | : Springer Science & Business Media |
| Total Pages | : 424 |
| Release | : 2012-12-06 |
| Genre | : Business & Economics |
| ISBN | : 3642488080 |
The articles collected in this volume have two features in common: they wantto integrate economics, demography and geography, and they want to overcome the stationary approach in modelling in favour of a dynamic one. The book is subdivided into three parts, where Part I is focussing on economic evolution, Part II on geographical development and Part III is related to demographic change. The present volume aims at providing a new look at this triangle in view of the classical background of discussions by introducing new research ideas focussing in nonlinear dynamics and stochastic modelling. Thus the main purpose of this book is to make a contribution to the interdisciplinary work needed to integrate the effortsbetween these three research fields and to serve as a research source in demonstrating the current state of art in dynamic modelling. The book isaddressed to social scientists in general, and those in particular with a background in economics, geographics and demographics. It should also be of interest to mathematicians, physicists, and systems analysts interested in model building and applications of nonlinear dynamics.
| Author | : Knut Haase |
| Publisher | : Springer Science & Business Media |
| Total Pages | : 127 |
| Release | : 2012-12-06 |
| Genre | : Technology & Engineering |
| ISBN | : 3642457355 |
Billions of dollars are tied up in the inventories of manufacturing companies which cause large (interest) costs. A small decrease of the inventory and/or production costs without reduction of the service level can increase the profit substantially. Especially in the case of scarce capacity, efficient production schedules are fundamental for short delivery time and on-time delivery which are important competitive priorities. To support decision makers by improving their manufacturing resource planning system with appropriate methods is one of the most of production planning. interesting challenges The following chapters contain new models and new solution strategies which may be helpful for decision makers and for further research in the areas of production planning and operations research. The main subject is on lotsizing and scheduling. The objectives and further characteristics of such problems can be inferred from practical need. Thus, before an outline is given, we consider the general objectives of lotsizing and scheduling and classify the most important characteristics of such problems in the following sections.
| Author | : Ulrich Schmidt |
| Publisher | : Springer Science & Business Media |
| Total Pages | : 216 |
| Release | : 2012-12-06 |
| Genre | : Business & Economics |
| ISBN | : 3642588778 |
The first attempts to develop a utility theory for choice situations under risk were undertaken by Cramer (1728) and Bernoulli (1738). Considering the famous St. Petersburg Paradox! - a lottery with an infinite expected monetary value -Bernoulli (1738, p. 209) observed that most people would not spend a significant amount of money to engage in that gamble. To account for this observation, Bernoulli (1738, pp. 199-201) proposed that the expected monetary value has to be replaced by the expected utility ("moral expectation") as the relevant criterion for decision making under risk. However, Bernoulli's 2 argument and particularly his choice of a logarithmic utility function seem to be rather arbitrary since they are based entirely on intuitively 3 appealing examples. Not until two centuries later, did von Neumann and Morgenstern (1947) prove that if the preferences of the decision maker satisfy cer tain assumptions they can be represented by the expected value of a real-valued utility function defined on the set of consequences. Despite the identical mathematical form of expected utility, the theory of von Neumann and Morgenstern and Bernoulli's approach have, however, IFor comprehensive discussions of this paradox cf. Menger (1934), Samuelson (1960), (1977), Shapley (1977a), Aumann (1977), Jorland (1987), and Zabell (1987). 2Cramer (1728, p. 212), on the other hand, proposed that the utility of an amount of money is given by the square root of this amount.
