Journal of Economic and Social Thought
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The Economic Philosophy of Micro-Credit System
Get PDFAbstract. This paper aims at locating the practice of micro-credit system into a larger theoretical canvas of economic theory and philosophy. A systems theoretic approach has been adopted. Emergence of the ‘excluded’ class has been explained with the help of the theory of feedback. Individuals have been assumed to be myopic, local optimizer and bounded rational. In this context, the empirical experiences have been viewed and assessed as to their outcomes.Keywords. Micro-credit system, economic theory, philosophy, systems theory, self-organizing systems, feedback, exclusion.JEL. O16, G21, E11, D63, D78
Moving Towards a Circular Economy: Rethinking Waste Management Practices
Get PDFAbstract. Nowadays waste has become a vital part of our economy, as a by-product of economic activity. It originates from businesses, the government and households and following appropriate management techniques, it can be used as an input to economic activity for instance through material or energy recovery. Waste is produced by all activities and although it is a locally arising problem it has both local and global effects. Societies need to dispose their waste products creating a source of environmental pollution. Sustainable waste management requires the combination of skills and knowledge of physical sciences and engineering together with economics, ecology, human behaviour, entrepreneurship and good governance. This paper discusses extensively the policy framework and the legislative background around waste and its management in the EU and worldwide. In this way, it focuses on the treatment options for waste under the Circular Economy approach having in mind the idea of closing the loop and hence achieving a more efficient use of resources.Keywords. Municipal solid waste, Waste management, Resources, Circular economy, Waste infrastructure.JEL. O13, O52, Q50, Q53, Q56, R11
Karima Kourtit, Peter Nijkamp, & Roger Stough (Eds.), The Rise of the City: Spatial Dynamics in the Urban Century
Get PDFAbstract. Innovations and innovators who bring new products to market are heralded as change agents and are the heroes of modern business. However, a subtle dimension in social science research has emerged which promises a similar relationship with human interaction and economic development: urban living and the rise of megacities. For a time, new innovations in telecommunication and transportation suggested the demise of cities that would make rural living preferable to life in urban areas. However, rather than these developments leading to the demise of cities, urban areas are now considered as the hub of economic growth and innovation, which is attributed to the international proliferation of urban living. Cities are increasingly seen as reducing the costs of communication, create access to culture, knowledge, and medicine and are recognized as centers of innovation and productivity. It is against this backdrop that Karima Kourtit, Peter Nijkamp, and Roger Stough have edited the volume The Rise of the City: Spatial Dynamics in the Urban Century, which synthesizes leading topics in urban economics..Keywords. Political economy, Institutions, Democracy, Elections.JEL. F50, D72
What is Sustainability of Farms?
Get PDFAbstract. This paper attempts to give answer to some important questions, on which there is no agreement among researchers, namely: “what is farm sustainability?”, “what is the relation between farm and agrarian sustainability?”, “which are critical factors of farms sustainability?”, and “how to assess farms sustainability level”. First, evolution of the “concept” of farm sustainability as alternative ideology, new strategy, system characteristics etc. is analyzed and discussed. On that base is suggested adequate definition of farm sustainability as ability of a particular farm to maintain its governance, economic, social and ecological functions in a long term. The final goal is better define farm sustainability and develop an efficient framework for assessing sustainability level of different type of farms.Keywords. farm sustainability, governance, economic, social, ecological aspects, framework for assessment.JEL. Q10, Q56, R33
Philosophical Origins of Seventeenth Century American Economic Thought
Get PDFAbstract. This paper examines the philosophical origins of seventeenth century American economic thinking, considering the contributions of both Puritan thought as derived from the abundant written legacy its followers left behind, and that of Quaker thought, which though less voluminous proved to be more influential in the long run development of American economics. Before addressing the dominant theme of this essay, the paper begins with a discussion of protohistory, a concept essential to understanding the contention that historiography has overvalued the significance of Puritanism at the expense of Quakerism.Keywords. Protohistory; Puritanism; Quakerism.JEL. A10, A20
The Balance of Economics and Political Science in Islamic Political Economy
Get PDFAbstract. The purpose of this paper is to investigate the balance of economics and political science in Islamic political economy. The economic science here refers to economics value based on Islamic teaching, while political science refers to political value based on Islam. Whereas Islamic political science is a field that evaluates the interaction between the Islamic economy and politics as well as the implication of the influences of one field on the other.Beyond this assessment, between the economic and political value, which one is more influential in Islamic political economy? To date, most scholars are inclined towards the influence of their respective field. For those in economic field, the focus of Islamic political economy is mostly directed towards economic value rather than political value.Similarly, those who are in politics will be more inclined towards the political value rather than economic.Thus, which of the political or economic value should be made priority in Islamic political economy? Based on literature review and textual analysis, this paper will firstly, re-evaluate the issue where it is perceived that Islamic political economy does not necessarily need to focus on both political and economic value; secondly, analyse the extent to which the economic and political values are needed in Islamic political economy; and thirdly, summarise the option between the economic and political value in Islamic political economy in order to achieve a holistic field of study in overcoming problems and presenting solution for the political economy of the Ummah (Islamic nation).Keywords. Economic Value, Political Value, Islamic Political Economy.JEL. P47, P26, P16
Pancasila Economic and The Challenges of Globalization and Free Market In Indonesia
Get PDFAbstract. The crisis of economy in Indonesia forces the government to reform its economic development paradigm. The new paradigm development refers to great attention of economic-societies such as cooperation. Those involve in the planning of national economic development as well as the planning of society development. This article aims to define the combination between Islamic economic and economic of Pancasila to pressure the identity of Indonesian state in globalization era.Keywords. Pancasila economic, Islamic economic, Globalization, Free market.JEL. A11, F6, G18, H1, N2, O57, P5, Z21
Race, Capitalism, and Power: The Economic Thought of the Young Jesse Jackson
Get PDFAbstract. Fifty years ago, Jesse Jackson joined the S.C.L.C. and rose rapidly to become one of this country’s major advocates of black capitalism. Far less well known is his interest in finance and credit for African Americans that suggests his prescience about the decline of industrial capitalism. Focusing on Jackson’s early civil rights activity in Chicago, this paper charts the initial stages through which Martin Luther King’s young pupil rapidly became a staunch supporter of black economic power, strongly committed to a wealth-transfer agenda, while most of the other civil rights and labor leaders showed more interest in a just distribution of income. Abandoning the stereotypical image of Jackson in his early years, an image limiting him to an ambitious activist interested in bargains and with little inclination for analysis of the economic reality of his times, this paper addresses Jackson’s forward way of thinking. His growing expertise in money and finance made him one of the few civil rights leaders who genuinely grasped the functioning of the post-industrial economy and constituted the true wellspring of his later pan-Africanism and economic policies.Keywords: Jesse Jackson, Economic thought, Operation Breadbasket, S.C.L.C., Black capitalism.JEL. B10, B20, B59
An Overview On 2014 INTAVIC Conference
Get PDFAbstract. In this study, The Second International Civil Aviation Conference held on 16 April 2015 in Ankara by Turkish Aeronautical Association (UTAA) will be described.Keywords. Civil Aviation Management, INTAVIC, Terminal Operations.JEL. L62, L90, L93