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Study on sustainability of Bulgarian agro-ecosystems
Get PDFAbctract. Despite huge progress in the theory and practice of this new area, still there is no consensus on how to assess the sustainability of agro-ecosystems due to diverse understandings, approaches, methods, employed data, etc. In Bulgaria there are practically no deep studies on sustainability level of diverse agro-eco-systems. This paper tries to fill the blank and assesses the sustainability level of agro-ecosystems of different type in Bulgaria. First a holistic hierarchical framework for assessing integral, economic, social and ecological sustainability of agro-ecosystems in Bulgaria is suggested including 17 principles, 35 criteria, and 46 indicators and reference values. After that, an assessment is made on overall and aspects sustainability of large (agro)ecosystems in North-Central, South-Eastern, South-Central and South-Western geographic regions, and particular main and specific types of agro-ecosystems of the country - mountainous, plain-mountainous, plain, riparian (Struma, Maritza, Yantra), southern Black Sea, mountainous area with natural constraints, non-mountainous area with natural constraints, protected areas and reserves, Western Thracian Plain, Middle Danube Plain, Dupnitsa and Sandansko-Petrich Valley, Sredna Gora Mountains and Western Rila Mountains. The assessment is based on first-hand information collected though in-depth interviews with the managers of “typical” farms in the respective ago-ecosystems. The study has found out that there is a considerable differentiation in the level of integral sustainability in agricultural ecosystems of different types. Furthermore, there are substantial variations in the levels of economic, social and ecological sustainability of agro-ecosystems of different type, and the critical indicators enhancing or deterring overall and particular sustainability of individual agro-ecosystems.Keywords. Agro-ecosystem, Sustainability, Assessment, Economic, Social, Ecological, Bulgaria.JEL. Q10, Q56, R33
Re-examining the equation of exchange according to Shariah rationale money
Get PDFAbstract. Earlier, the Muslim scholars stated that money is a social convention. For instance, Ibn Taymiyyah (1263-1328) indicated that the gold standard money constitutes a pricing system or a rationale money. Ibn Khaldun (1377) urged a stable monetary policy by using Shariah currency which is related to the number of transactions, and the monetary policy was done through a control and a supervision by a Shariah board office as a monetary authority. The focus point in all transactions is to forbid the Riba including the banking interest rate. Inside the Shariah paradigm and according to historical economic facts revealed by Ibn Khaldun, we suggest that the economic theory of money, through the equation of exchange, should be re-examinedby treating the value of transactions and the velocity of money as endogenous, and considering the stock of money as exogenous and determined only by the monetary authority. We expect that when the consumers and producers as buyers and sellers behave following the Shariah transactions by avoiding any form of unfair dealing, the speculative money will tend to zero and all the money stock will be in circulation. It is best for community welfare that the money reaches its optimal velocity by improving the trade between members of the society. Such Shariah statement would be realized at least through the Zakat system and by any form of re-distribution of the wealth or social giving. The implementation of a new gold standard system requires a political decision and the flexibility of the market prices processes. Even if money is just an instrument, it is perceived differently in Islamic and non-Islamic perspectives. The practical prescriptions (i)-ii)-(iii) based on Shariah transactions perception and Islamic economics paradigm would fit more for the mankind that needs justice and fairness.Keywords. Shariah, Money, Gold-silver, Equation of exchange, Convertible paper, Fairness.JEL. E42, E5, F33
Ian Kumekawa, The First Serious Optimist: A.C. Pigou and the Birth of Welfare Economics
Get PDFAbctract. Before there was Keynes, there was Pigou. Both students of the acclaimed Alfred Marshall, both went on to make foundational contributions to economic thought. Keynes’s star in macroeconomics surpassed Pigou, but Pigou’s contribution to micro and welfare economics are pinnacles in their own right. The late 19th and early 20th century Cambridge economics faculty is frequently over looked by the more recent developments in economics by the University of Chicago and Massachusetts Institute of Technology.Keywords. Welfare economics.JEL. D60, H63, H75, I30
The behaviour of imports in Cameroon: An analysis through the equilibrium and disequilibrium models
Get PDFAbstract. We have attempted, in this paper, to evaluate the structure and determinants of the demand for imports in Cameroon at the aggregated and disaggregated levels, using an equilibrium and disequilibrium models. It emerges from econometric estimation that real income, the real exchange rate and the variable capacity to importand industrialization were the determining factors in Cameroon imports. The degradation of imports illustrates the elastic or inelastic nature of imported products. Cameroon must reshape her development strategies towards industrialization in order for them to achieve a progressive reduction of their imports. This imperative situation would be a means that cannot be ignored by the Cameroon if it wants to attract foreign direct investment which is a source for the development of firms and for boosting productivity.Keywords. Structure, Imports, Development of firms, Industrialization, Cameroon.JEL. C20, F20, F30
What is technology and technology change? A new conception with systemic-purposeful perspective for technology analysis
Get PDFAbstract. The study suggests a new definition of technology with a systemic-purposeful perspective: Technology here is a complex system of artifact, made and/or used by living systems, that is composed of more than one entity or sub-system and a relationship that holds between each entity and at least one other entity in the system, selected considering practical, technical and economic characteristics, to satisfy needs, achieve goals and/or solve problems of users for the purpose of adaptation and/or survival in environment. Technology is formed and evolves with different minor and major innovations. Several examples illustrate these concepts and a simple model operationalizes the proposed definition with a preliminary statistical evidence. Overall, then, technology changes current modes of cognition and action to enable makers and/or users to take advantage of important opportunities or to cope with consequential environmental threats.Keywords. Conception of technology, Nature of technology, Origin of technology, Evolution of technology, Diffusion of technology, Systems approach, Artifacts, Purposeful systems, Product modularity, Coevolution, New caledonian crow, Chimpanzee, Technical change.JEL. O30, O32, O33, B50
Metabolism of public organizations: A case study
Get PDFAbstract. This study suggests the concept of Metabolism of organization that explains how public organizations use and/or transform inputs (mainly public funding) to produce and supply products and services. This approach is useful for analyzing costs and supporting best practices of management to increase efficiency of organizations. An application of this approach is showed on one of the largest public research organizations in Europe. Results indicate, from 1997 to 2015 period, that the cost of personnel has a very high growth rate (167.87), total cost of CNR has a high one (127.44), whereas total revenue (state subsidy) has a lower growth rate:118.72. This result suggests an imbalance of growth rates between dynamics of total revenue and vital costs within this PRO, generating economic issues and inefficiencies for this organization in the long run. R&D management implications conclude this study.Keywords. Research organizations, R&D funding, Cost management, Cost analysis, Budget system, Metabolism.JEL. N30, O30, O31, I23
The balancing act: US recession 2020 and the Federal Reserve
Get PDFAbstract. The paper shows that there is a tradeoff between higher wages and higher employment when Federal Reserve through its monetary policy tools is trying to avoid a looming recession. The paper also explains the rationale behind President Donald Trump’s industrial policy and timely actions by the Fed to raise interest rates by presenting it not as contradictions but as conciliation measures. The paper utilizes unique perception based data collected by world economic survey on some key indicators of the US economy to discuss a strong possibility of mild economic recession in 2020 in the US. However, it is expected that the Federal Reserve would take some timely measures like the devaluation of US dollar and decreasing interest rates that may off set the drastic effects of a continuing trade war with China on the external sector of the country. The economic policies of Trump administration have brought greater focus to industrial labor that has strengthened the white supremacy rhetoric in the country. The concept paper discusses specific activity based informal education exercise in the schools in US that may help the young population in the country to consolidate with diversity and reject populism of dissent against diversity and movements of white supremacy.Keywords. Federal Reserve, Balancing act, US recession.JEL. A14, B24, B51
Notes on the main analytical insufficiencies of the Marxist theoretical tradition for the comprehension of the contemporary global economy
Get PDFAbstract. This article aims to analyze how the Marxist and neomarxist approaches demonstrate a relative difficulty in understanding and interpreting the dynamics of the modern world economy (globalization). We attempt in particular to explore the interpretive capabilities and shortcomings in the approach of globalization that stem from Marx’s thought and his followers. We present, in particular, the theoretical contribution of Marx in the study of the internationalized capitalism of his era, the interpretation by Lenin based on the concept of imperialism, the subsequent developments and adjustments in the Marxist analysis of the internationalized developmental phenomenon, as well as some contemporary interpretations that link Marxism and neomarxism with globalization.Keywords. Marxism, Neomarxism, Marxist adjustments, Marxism and Globalization, Criticism on Marxism.JEL. B14, B24, B51
Tom Barnes, Making Cars in the New India: Industry, Precarity and Informality
Get PDFAbstract. With the ongoing process of industrial tariff reforms across the globe, several developing countries in recent period are eying manufacturing sector consolidation, propelled by multiple motives. On one hand, joining the ever-expanding international production networks (IPNs) and global value chains (GVCs) has come up as a major motivation. On the other hand, particularly for the densely populated nations, employment creation and skill formation in the local labour market emerged as an important policy objective. In both set of options, attracting foreign multinational corporations (MNCs) to invest at ‘home’ emerged as a crucial strategy. The MNCs can be attracted on one hand through a ‘positive’ approach, e.g., reforms in ease of doing business, presence of a vibrant production cluster, availability of key raw materials,efficiency of in and outbound logistics, trade agreements with other countries and export opportunities and so on.The ‘negative’ approach may involve a weaker environmental regulatory framework (Pollution Haven Hypothesis), compromise on labour standard etc.Keywords. Industry, Precarity, Informality, Car industry, India.JEL. F34, F43, F63, C01
Examining the correlation of the level of wage inequality with labor market institutions
Get PDFAbstract. Technological change is responsible for major changes in the labor market. One of the offspring of technological change is the SBTC, which is for many economists the leading cause of the increasing wage inequality. However, despite that the technological change affected similarly the majority of the developed countries, nevertheless, the level of the increase of wage inequality wasn't similar. Following the predictions of the SBTC theory, the different levels of inequality could be due to varying degrees of skill inequality between economies, possibly caused by variations in the number of skilled workers available. However, recent research shows that the difference mentioned above can explain a small percentage of the difference between countries. Therefore, most of the resulting inequality could be due to the different ways in which the higher level of skills is valued in each labor market. The position advocated in this article is that technological change is largely given for all countries without much scope to reverse. Therefore, in order to illustrate the changes in the structure of wage distribution that cause wage inequality, we need to understand how technology affects labor market institutions.In this sense, the pay inequality caused by technological progress is not a phenomenon we passively accept. On the contrary, recognizing that the structure and the way labor market institutions function is largely influenced by the way institutions respond to technological change, we can understand and maybe reverse this underlying wage inequality. Consequently, we would like to examine to what extent the reason behind the increase of wage inequality in some countries but not in others is attributed to the structure and the way the institutions of labor market work. In this article, we will attempt to examine this hypothesis by empirically elaboratingon the relationship between SBTC, inequality and labor market institutions.Keywords. Wage inequality, SBTC, Minimum wage, Trade unions, Collective bargaining.JEL. O10, J10, E50