Journal of Economic and Social Thought
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Population and Economic Growth in Australia: 8,000 BC - AD 1700 Extended to 60,000 BC
Get PDFAbstract.Data for the number of rock-shelter sites in Australia between 1000 and 10,000 years BP (before present or approximately between 8,000 BC and AD 1000) are analysed. These data were interpreted by Johnson and Brook (2011) as representing the growth of population. Their claim of the Mid-Holocene intensification of the growth of population around 5000 years BP is contradicted by their own data. The puzzle of the Mid-Holocene turning point has been solved: there was no turning point. Their claim of the Mid-Holocene turning point relies on a precise position of a single point in the set of the already inaccurate data. Based on the fitted distribution to the data, the size of human population has been estimated between 8,000 BC and AD 1700 and tentatively extended down to 60,000 BC. The absolute values of the size of population were determined in relation to Maddison’s data between AD 1 and 1700 (Maddison, 2010). Data of Maddison show also that the value of income per capita was constant below AD 1700. Using this information and the fit to the population data, economic growth in Australia was estimated down to 8,000 BC and tentatively extended to 60,000 BC.Keywords. Australia, Population growth, Economic growth, Gross Domestic Product, Hyperbolic growth, Unified Growth Theory, Malthusian stagnation.JEL. A10, A12, C12, C20, Y80
Federalism and the Arab League: A theoretical synergy
Get PDFAbstract. The paper is a theoretical analogy of the Arab league as a regional organization. The paper also discusses the objectives, strengths and weaknesses of the league. By adopting descriptive-historical research from library instrument, findings show that, there is no doubt that the league had recorded some appreciable level of achievements since its inception and there have equally been some challenges along the line. The paper concludes that, the Arab league must find a way to reduce the perpetual tension and violence in Palestine by working towards enthroning a peaceful relationship with Israel while retaining their cultural identity. The paper also recommends that, the Arab league should strengthen their relationship with the non-Arab Nations especially in the face of globalization to reap the benefits therein involved as a league. Arab league must ensure that Arab states stop waging needless wars between and among themselves. The Syria and Yemeni crises among others is a disgrace to the Arab world.Keywords: Arab league, Theoretical, Synergy, Federalism, Integration.JEL. A10, F15
Freedom Budget for all Americans and Economic Equality
Get PDFAbstract. The Freedom Budget for All Americans, written under the supervision of Bayard Rustin and released in 1966 by the A. Philip Randolph Institute, was a well developed policy program to secure full economic citizenship for all Americans thanks to an unprecedented government investment. The program challenged the classic definition of civil rights and linked increased government spending to economic justice. It never earned traction and remained at the margins of historical memory by the end of the Johnson Presidency. The recent literature on the Freedom Budget focuses on its ideological milieu and political implications and identifies the strategic errors in coalition building as the main cause of the Freedom Budget defeat. This paper concentrates on a specific element of the plan, the notion of economic equality, and states that the disagreement between radicals and liberals on such a notion ultimately caused the undoing of the coalition.Keywords. Freedom Budget, Philip Randolph, Johnson Administration, economic equality.JEL. B29, B31, B59
Do Institutions and Social Capital matter in the Economic Development of Nigeria?
Get PDFAbstract. This paper addresses the impact of institutions and social capital on economic development of Nigeria. It advanced an argument that economic prosperity of a country is embedded in social organizations and transformations of her institutions built from social capital. The methodology adopted was quantitative and qualitative. The results present a declining negative impact of social capital and institutional variables on economic development; affirming the importance of social capital on institutional quality. Therefore, the way forward is taking a tougher stance against abuse of power and employ mechanism of social capital to reconcile conflict among social, political and economic interest groups.Keywords: Institutions, Social capital, Economic development.JEL. D70, H10, O10, O40
The Cause and Effects of Word of Mouth from Consumer Intention and Behavior Perspectives: A SEM Model Approach
Get PDFAbstract. As word-of-mouth (WOM)has been a major issue in the Consumer research, a lot of independent variables as WOM’s causes and effects have been accumulated. However, they have not been considered systematically in one identical model, in order to compare across their relative effects. This paper adopted a structural equation modeling method to incorporate significant variables with an integrative framework of consumer intention and behavior. Theoretical and practical insights were offered via the results of analyses.Keywords: Word-of-Mouth, Structural equation modeling, Cause-effects, Consumer intention and behavior.JEL. M10, L33, L52
Knowledge-based View in the Franchising Research Literature
Get PDFAbstract. This study was conducted to understand the state of research on applications of Knowledge-based View in franchise systems. First, we used SALSA (Search, Appraisal, Synthesis, and Analysis), a simple systematic data search method, to obtain 61 sample papers. Second, the citations of authors and publications were analyzed using the bibliometric method to understand the authors and the publications that had the most impact as well as the trend of current studies in the field of knowledge-based theory application in franchise systems. The results showed that the journals that had the most publications on the topic were Entrepreneurship Theory and Practice and Journal of Business Research; the most cited author was S.A. Shane, who had an average rate of 1.016 citations per article, and the most cited study was a paper published by Darr, Argote, & Epple (1995), which was cited by 18 of the 61 sample papers (18/61, 29.51%). Third, we categorized the topic of knowledge-based theory application in franchise systems into six categories, i.e., knowledge transfer, knowledge creation, knowledge sharing, knowledge application, organizational learning, and knowledge exchange, to provide references for future studies.Keywords. Knowledge-based view; Franchising; Bibliometrics.JEL. L10
Society case study: Why formal education is the common goal of human progress
Get PDFAbstract. The case study discusses the importance of formal education not only as a means to economic empowerment but also its application in intra cultural harmony that may solve for many intra national and international conflicts. Education for women is emphasised as useful economic strategy whereby women participation in skilled labour force may improve the trading capacity of developing countries in international markets. Keywords. Formal education, Conflict mitigation, Cultural harmony, Economic empowerment.JEL. E50, E52, E60
Rögnvaldur Hannesson, Debt, Democracy and the Welfare State: Are Modern Democracies Living on Borrewed Time and Money
Get PDFAbstract. This book deals with the accumulation of government debt in twenty-two of the richest countries of the world, which has been ongoing since about the mid-1970s. All these countries are welfare states with a large government sector that provides services and transfers purchasing power to the perceived needy, although some countries are more ambitious in this respect than others. The build-up of debt is due to maintaining welfare expenditures beyond what tax revenues allow. But indefinite debt accumulation is not an option. The question is whether the governing elites in democratic countries will shrink from doing what is necessary in fear of losing their electorate, in the end opening the way to unenlightened populists and potential usurpers.Keywords. Dept, Democracy, Welfare State.JEL. D60, F34, I30, H60, P00
Does Health Matter for Economic Growth?
Get PDFAbstract. This paper reviewed extensive theoretical and empirical studies which emphasize the role human capital in form of health, in economic growth. Most of the studies used proxies like life expectancy, infant mortality rate and health expenditure to estimate the effects of health on economic growth. Majority of the studies agree the positive impact of health on the economic growth and suggest investment in health to achieve sustained economic growth.Keywords. Health, human capital, economic growth life expectancy.JEL. I15, O490, O47