Journal of Economic and Social Thought
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On the academic making of Dr. Narmadeshwar Jha
Get PDFAbstract. Narmadeshwar Jha was an economist in India who specialized on the economics of Alfred Marshall. Jha passed his MA from Patna University and did his Ph.D. in the University of Leeds, UK. He wrote his well-known book titled “The Age of Marshall: Aspects of British Economic Thought, 1890-1915”. This paper makes an attempt to investigate the academic influences on Jha making him what he was. Keywords. Narmadeshwar Jha, Bhagalpur University, Alfred Marshall, University of Leeds, A.J. Brown.JEL. A23, B13, B31, B41
Service-learning in higher education in Southeast Asia
Get PDFAbstract. Although service-learning in higher education is a creation of the American society, it has found its way into many education systems outside of the United States. An excellent example of an area where service-learning is taking root is the southeast Asian region. Scholars believe that the slow but steady spread of service-learning as an educational innovation in Asia is symptomatic of modest changes in the conceptions of higher education. As the name suggests, service-learning is a form of education where students acquire real-life knowledge and skills through a wide range of experiences that benefit communities. In other words, service-learning combines education with community service, the aim of which is to enrich students while also meeting the needs of a society. Since service-learning has specific objectives and involves skills acquisition and critical analysis, it goes beyond the usual volunteering and or fundraising. As an active form of university engagement with surrounding communities, service-learning grounds students in local cultures while helping them pursue their educational goals. Keywords. Service-learning, Higher education, Southeast Asia.JEL. M10, M14
South Sudan: The dilemma of a protracted social conflict
Get PDFAbstract. This study examined the conflict in South Sudan, which started in December 2013 due to political dissatisfaction between President Salva Kiir and his then Vice President Riek Machar. When South Sudan got independence in 2011 through a referendum where more-than 98 percent of the population supported secession from Sudan, the country became a case study for potential secessions in Africa. However, the euphoria of independence quickly evaporated, and immediately replaced by violent conflict. Thus, the study explored the major causes of the conflict and concluded that political discontent resulting from power struggle among the elites fuelled the conflict. Furthermore, the study argues that citing ethnicity as the fundamental cause of the conflict is misleading and ill-conceived. Rather than being the catalyst of the conflict, the present conflict in South Sudan has rekindled ethnic identities and ideologies to a record height. The new wave of ethnic sentiment in South Sudan is as a result of irrational quest for political power and control among the top echelons in the country. Although ethnicity is not considered as the main cause of the conflict, however, given that the present situation has invigorated ethnic identities and sentiments in the country, the study concludes that any viable solution to the conflict must give incentives to fair ethnic and inter-ethnic representation and coalitions. Keywords. South Sudan, Power struggle, Ethnicity, Violence conflict, Peace-building.JEL. A13, A14, A30
What are the characteristics of revolution and evolution?
Get PDFAbstract. This conceptual paper describes some characteristics of revolution and evolution. Revolution here is an historical process that generates a rapid and structural change in society. Instead, evolution is a progressive growth and change, generating a transition from simple to complex systems. Overall, then, this study suggests that revolution and evolution are a result of human activity in society originated to satisfy specific needs and/or to cope with and adapt in the presence of environmental threats and changing contexts. Keywords. Radical change, Rebellion, Coup d’état, Insurrection, Struggle, Internal wars, Growth, Social progress, Advancement, Development.JEL. B50, B59, I00, I10, I30
Differences in wealth, evidence from structural regression decomposition, 1850-1870
Get PDFAbstract. Recent studies have used regression decomposition to analyze recent data and found that over seventy percent of the black-white wealth differences remained unexplained (See, e.g., Gittleman & Wolff 2000; Altonji, Doraszelski & Segal 2000; and Blau & Graham 1990). Their results are limited to the variation in modern data. This study contributes improved methodology and historical empirical results to the literature on economic discrimination. In this paper, (i) presents structural regression decompositions, which are modifications to methods developed by Becker (1957) and Oaxaca (1973); (ii) presents a basic empirical test when analyzing structural regression decompositions; (iii) reports the estimated sources of black-white differences in wealth directly before and after emancipation; (iv) links these findings to recent studies. Empirical estimates confirm that the size and persistence of modern black-white wealth differences have historical roots. (v) presents decision-making considerations of “individuals” in an economy with grouped individuals, owners of firms, and social planner(s), conditional on wealth constraints with applied social economic considerations.Keywords. Theory of economic discrimination, Structural regression decomposition, Wealth inequality.JEL. J70, D90, E20, C20, H50, N30
Human progress and its socioeconomic effects in society
Get PDFAbstract. The goal of this paper is to suggest a definition of human progress given by: an inexhaustible process driven by an ideal of maximum wellbeing of purposeful people which, on attainment of any of its objectives for increasing wellbeing, then seek another consequential objective. The human progress improves the fundamental life-interests of people represented by health, wealth, expansion of knowledge, technology and freedom directed to increase wellbeing throughout the society. These factors support the acquisition by humanity of better and more complex forms of life. However, this study also shows the inconsistency of the equation economic growth= progress because human progress also generates negative effects for human being, environment and society, such as increasing incidence of cancer in advanced countries. Keywords. Human Progress, Economic Growth, Wellbeing, Social Progress, Environmental Degradation, Cancer.JEL. B50, B59, I00, I10, I30, O10, O30, O33, O40
Energy, CO2s and water on the African Continent
Get PDFAbstract. African nations share a common situation in that they pollute little in terms of CO2s globally speaking, but at the same time global warming will likely have terrible consequences for the continent, set to face a sharp population increase. They have now access to few energy resources, which is conducive to their poverty. New renewables belong to the future (solar, wind, geo-thermal), whereas old renewables -wood, coal-– are a thing of the past. The coal or oil and gas dependent giants must start energy transformation, as must the many countries relying upon traditional biomass, or charcoal. The use of wood coal is simply too large for the survival of the African forests. Africa need lots of energy to handle the coming crisis ofpotable water, as lakes and rivers are shrinking and degraded by pollution, dams and overfishing. Keywords. African energy and CO2 emissions, Fresh and clean water, Lakes and rivers, New and old renewables, Coal or oil and gas dependency, Super Fund.JEL. N70, O13, Q40
Impact of governing modeson agrarian sustainability in Bulgaria
Get PDFAbstract. Specific system of governance in different countries, regions, subsectors, etc., eventually determines the speed and type of socio-economic development. Despite its big academic and practical importance, in Bulgaria and other countries in East Europe, there are very few empirical studies on dominating governing structures in agriculture, and their impact(s) on agrarian sustainability. In this paper the interdisciplinary New Institutional Economics framework is incorporated, and the impact of diverse market, private, collective, public and hybrid modes of governance on agrarian sustainability at the current stage of development in Bulgaria assessed. First, the methodological framework of the study is outlined. After that dominating governing modes in Bulgarian farms of different juridical type, size, specialization, ecological and geographical location are identified, and their impacts on agrarian sustainability and its economic, social, and environmental pillars evaluated. In conclusion implications for further research, public policy improvement, and private managerial strategy formation are presented. Agricultural producers of different use quite unlike mixture of effective market, private, collective and hybrid modes for governance of their activities and relations. Individual factors and modes most contributing to improvement of agrarian sustainability at the current stage of development are: manager’s personal convictions and initiatives, farms resources and innovation potential, near future profit and benefits strategies, market prices levels and dynamics, area-based EU subsidies, and informal agreements. Research on relations between the governing structure and agrarian sustainability is to continue though increasing representation, and the spectrum of specific governing modes used by farms of different type as well as assessments of the impact of institutions on agrarian sustainability and the impact of the governance at different hierarchical levels. The latter however, requires a new kind of micro and macro data, and a close cooperation between all interested parties. Keywords. Agrarian Governance, Sustainability, Market, Private, Collective, Hybrid modes.JEL. Q13, Q12, Q18, D23, E61, H23, L14, L22, L33, L51
Debt, equity, universal banking and Islamic finance: A note
Get PDFAbstract. This brief note looks at the suggested use of universal banking as a tool to mitigating risk in financing operations’ arising at both ends of the market – demand and supply. It concludes that the issue of adopting universal banking in the Islamic system is of little significance for risk reduction. It essentially raises the issue of mega banks versus smaller units in the Islamic system where the discretion would opt for the latter. Keywords. Equity versus debt financing, Universal banking, Islamic finance.JEL. D10, D11, E20
Land, property and wealth owners, as a comparison of public policy and government history, the economic history of 'intergenerational immigrant / migrant populations'
Get PDFAbstract. This study presents one of the first national studies that combines the migration and race of the economic experiences of free blacks, with an extended analysis of antebellum wealth inequality. In doing so, I analyze economic asymmetry among early blacks and whites in the United States of America. For the data analysis, I used information from the Integrated Public Use Microdata Sample (IPUMS). I present results of informative property ownership and wealth ratios. This study finds that economic differences among ethnic groups, as measured by differences between early blacks and whites, are intertwined with asymmetrical freedoms. Keywords. Economic geograpy, Economic history, Urban economics.JEL. B10, B15, B20