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Journal articles on the topic 'Neo-keynesianism'
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1
Hogan, Hilary. "From Austerity to Neo-Keynesianism: the EU’s U-Turn." Studies: An Irish Quarterly Review 110, no. 440 (2021): 437–45. http://dx.doi.org/10.1353/stu.2021.0033.
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Stiglitz, D. "Alternative Approaches to Macroeconomics: Methodological Problems and Neo-Keynesianism." World Economy and International Relations, no. 5 (1997): 64–72. http://dx.doi.org/10.20542/0131-2227-1997-5-64-72.
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Stiglitz, D. "Alternative Approaches to Macroeconomics: Methodological Problems and Neo-Keynesianism (continued)." World Economy and International Relations, no. 6 (1997): 54–64. http://dx.doi.org/10.20542/0131-2227-1997-6-54-64.
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LAVOIE, MARC. "A moeda em um programa de pesquisa comum para o pós-keynesianismo e o neo-ricardianismo." Brazilian Journal of Political Economy 12, no. 3 (1992): 425–47. http://dx.doi.org/10.1590/0101-31571992-0549.
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RESUMO É feita uma tentativa de diferenciar a teoria neoclássica de uma síntese do pós-keynesianismo e do neo-ricardianismo, chamada aqui de teoria pós-clássica. O programa de pesquisa neoclássica baseia-se em quatro elementos essenciais: instrumentalismo, individualismo, troca e racionalidade ilimitada. O programa pós-clássico (que também inclui institucionalistas e radicais) baseia-se no essencial oposto: realismo, organicismo, produção e racionalidade processual. A teoria monetária é dada como um exemplo de caso dessas dicotomias. Mostra-se que pós-keynesianos e neo-ricardianos têm visões convergentes sobre a endogeneidade da moeda e o caráter convencional das taxas de juros.
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Crouch, Colin. "Privatised Keynesianism: An Unacknowledged Policy Regime." British Journal of Politics and International Relations 11, no. 3 (2009): 382–99. http://dx.doi.org/10.1111/j.1467-856x.2009.00377.x.
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There have now been two successive policy regimes since the Second World War that have temporarily succeeded in reconciling the uncertainties and instabilities of a capitalist economy with democracy's need for stability for people's lives and capitalism's own need for confident mass consumers. The first of these was the system of public demand management generally known as Keynesianism. The second was not, as has often been thought, a neo-liberal turn to pure markets, but a system of markets alongside extensive housing and other debt among low- and medium-income people linked to unregulated derivatives markets. It was a form of privatised Keynesianism. This combination reconciled capitalism's problem, but in a way that eventually proved unsustainable. After its collapse there is debate over what will succeed it. Most likely is an attempt to re-create it on a basis of corporate social responsibility.
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Van Heertum, Richard. "The case for Neo-Keynesianism: in defence of the welfare state." International Studies in Sociology of Education 23, no. 3 (2013): 224–50. http://dx.doi.org/10.1080/09620214.2013.790664.
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Lavoie, Marc. "Towards a new research programme for post-Keynesianism and neo-Ricardianism∗." Review of Political Economy 4, no. 1 (1992): 37–78. http://dx.doi.org/10.1080/09538259200000003.
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Simonova, M. D. "Digitalization of economy: From Neo-Keynesianism to blockchain in health care." Digital Law Journal 3, no. 4 (2022): 107–10. http://dx.doi.org/10.38044/2686-9136-2022-3-4-107-110.
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Stiglitz, D. "Alternative Approaches to Macroeconomics: Methodological Problems and Neo-Keynesianism (the end)." World Economy and International Relations, no. 7 (1997): 52–61. http://dx.doi.org/10.20542/0131-2227-1997-7-52-61.
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Bludnik, Izabela. "The New Keynesianism - proclamation of a consensus?" Economics and Business Review 9, no. 1 (2009): 5–24. http://dx.doi.org/10.18559/ebr.2009.1.549.
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The New Keynesianism arose in the mid -1970s and was determined by a variety of the post-war Keynesian research fields, profound changes in economic environment and growing supremacy of the neo-liberal stream in the theory and policy. Far-reaching differentiation of the New Keynesian scientific program made many modern Keynesian models very similar to the typical neoclassical structure. However, such theories as the search in the labour market or the New Keynesian Phillips Curve integrating many different elements typical of the rival schools do not seem to announce a consensus providing a better understanding of the contemporary economic systems. (original abstract)
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Artamonova, L. N. "POST-KEYNESIANISM: EVOLUTION OF KEYNESIAN MACROECONOMICS IN THE 20TH CENTURY." MGIMO Review of International Relations, no. 6(51) (December 28, 2016): 106–14. http://dx.doi.org/10.24833/2071-8160-2016-6-51-106-114.
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The article analyzes the development of J.M. Keynes's theory in the second half of the twentieth century due to the works within the new direction of economical science - Post-Keynesianism. It is shown that in free-market economy Keynesian school based of the original Keynesian methodology requires additional studies of state regulation principles and take into account the qualitative changes in the market mechanisms. It is shown that post-Keynesianism has had a significant impact on the subject of research and has taken into account the principles of free enterprise, market pricing, level of price dynamics. All this principles allow realizing the principle of self-regulation of the market mechanism. New approaches to the post-Keynesians role of the state and state regulation combined with the freedom of entrepreneurship are analyzed. Taking into account real changes and economic crises it is necessary to analyze the main directions of development of the Keynesian model of economic regulation with a view to their effective use in shaping economic policy. There are considered the basic directions of development of post-Keynesianism such as Neo-Ricardian theory of value and prices of goods based on direct costs of production in the framework of macroeconomic model by P. Sraffa, information theory of "fundamental" uncertainty of the future by R. Klauder and the theory of financial instability hypothesis by H. Minsky. Their differences within the framework of post-Keynesianism under the subject specialization are considered. It is noted that the development of PostKeynesianism allows to present the latest research in modern Keynesian school within an interdisciplinary approach to economical problems.
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Whyman, Philip, Brian Burkitt, and Mark Baimbridge. "Post-Keynesianism and a neo-liberal EMU: the case for economic independence." Contemporary Politics 11, no. 4 (2005): 259–70. http://dx.doi.org/10.1080/13569770500415212.
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Pratten, Stephen. "The “Closure” Assumption as a First Step: Neo-Ricardian Economics and Post-Keynesianism." Review of Social Economy 54, no. 4 (1996): 423–43. http://dx.doi.org/10.1080/00346769600000027.
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Radev, Yuli. "Dynamic disequilibrium and investment - saving imbalance." Economic Thought journal 61, no. 4 (2016): 126–49. http://dx.doi.org/10.56497/etj1661404.
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The financial crises of 2007-2011 put the new neoclassical synthesis to a serious test and became the occasion for harsh criticism from both the neoclassical school and New Keynesianism. The idea of dynamic disequilibrium is once again in the spotlight, and the investment-savings imbalance turns out to be the most logical explanation for the pathological deviations from normal economic development. In this connection, the investment-savings imbalance and the possibilities of quantifying this problem within the framework of dynamic stochastic general equilibrium models are discussed. The analysis is presented through the prism of the non-equilibrium, which inherits the main features of the neo-equilibrium (see Radev, 2011).
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Rao, Vijayendra. "Process-Policy & Outcome-Policy: Rethinking How to Address Poverty & Inequality." Daedalus 148, no. 3 (2019): 181–90. http://dx.doi.org/10.1162/daed_a_01756.
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Process matters not just for diagnosing the causes of inequality, but also for how policy is shaped. The dominant paradigms for policy-making – neoliberalism, neo-Keynesianism, and neopaternalism – largely address inequality via “outcome-policies” that manipulate the levers of government and, more recently, draw on randomized trials and “nudges” to change behavior, in a manner that is not only easy to measure, but also easy to reverse. This commentary draws on the essays in this special issue of Dædalus to make the case for “reflectivism,” which shifts structural inequalities in agency, power, social structure, empathy, and aspiration in an incremental manner that is more uncertain and difficult to measure, but that can result in more lasting change.
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Harris, Jerry. "The future of globalisation: neo-fascism or the Green New Deal." Race & Class 61, no. 1 (2019): 3–25. http://dx.doi.org/10.1177/0306396819844121.
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Global capitalism is visibly showing up unacceptable inequalities and social contradictions. Three camps have emerged in the ruling class in response to over-accumulation, poverty, middle-class stagnation and environmental crisis: inclusive capitalism; militarised accumulation; the Green New Deal. All fractions adhere to neoliberal principles. Inclusive capitalism – neoliberalism with a nod to Keynesianism – means continued stagnation since it avoids the need for a social-democratic regulatory system. A turn to authoritarianism – the police state of twenty-first century neo-fascism, according to theorist William I. Robinson – is unlikely, though militarised accumulation is now an essential outlet for capital. Green capitalism, in which China is now the leading global investor, particularly with transnational public and private partners, neither breaks with neoliberalism, nor can potentially reverse environmental disaster. That would take social movements defining a Green New Deal for a sustainable capitalism to be an effective hegemonic bloc.
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Lebaron, Frédéric, and Didier Georgakakis. "The field of European economic governance and austerity policies: Exploratory elements (2002–2012)." Political Anthropological Research on International Social Sciences 2, no. 1 (2021): 47–82. http://dx.doi.org/10.1163/25903276-bja10021.
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Abstract In this paper, we establish the theoretical topography of a sample of these actors, their dispositions and their resources to grasp the relational dynamics (including the dynamics of inertia and of change) at work in the translation of the economic, social and political inputs into policy choices. This way of doing seems to us a good means to contribute to the current debate on the unexpected resilience of austerity policies and the need for ‘structural reforms’ at the EU level. How to explain, indeed, that whereas many observers thought after the first Obama election that the end of 2000 would mark a ‘lasting paradigm change’ to neo-Keynesianism the advisability of pursuing a new policy was so rapidly shut down? How to sociologically contribute to explain the strong continuity of the former paradigm inside European institutions and simultaneously the rather marginal adjustments it underwent?
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Cox, Kevin R. "Uneven development: convergence, divergence and politics." Cambridge Journal of Regions, Economy and Society 15, no. 1 (2021): 23–38. http://dx.doi.org/10.1093/cjres/rsab030.
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Abstract The paper positions itself in contrast to some themes in work on local and regional development. These have included an emphasis on policy rather than politics, tendencies to over-generalize across countries, and to abstract from the more global context. The empirical context for the discussion is the shifting character of geographically uneven development since the Second World War: first a convergence and then, after the mid-1970s, a divergence. Convergence is held to be the result of what some have called spatial Keynesianism. The conditions for this and for its demise, resulting in divergence, are traced out with particular reference to how the shifting pressures and opportunities were refracted by the specificities of countries. State form emerges as particularly important in understanding different trajectories, along with a neo-liberal globalisation that has been in contrast to the monetary and trading regime inaugurated by the Bretton Woods agreements.
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Denora, Bielsa Aditya Denora Bielsa, Aprieliandro Putra, and Yehuzia Widiatmojo. "Implementasi Pemikiran Tokoh Neo Keynesian Pada Perekonomian Indonesia." JEB17 : Jurnal Ekonomi dan Bisnis 9, no. 01 (2024): 73–82. https://doi.org/10.30996/jeb17.v9i01.6792.
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Around 1970, there was stagflation that could not be solved using Keynes's framework. Then some economic scientists began to abandon the Keynes theory and the Phillips curve, which is a trade-off between the magnitude of inflation and unemployment, also began to be abandoned in the macroeconomic consensus. The micro foundations of Keynesian thought began to be questioned and New Classical thought began to dominate replacing Keynes's thinking. Keynesian ideas continued to develop and reappeared around 1980 and are often called the New Keynesian Group. It begins with the premise that in the economy there is involuntary and persistent unemployment and economic fluctuations are at the center of all problems in the economy, such as: repression and depression which represent large-scale market failures. The New Keynesians also place reform in the foundations of microeconomics. New Keynesian thought still maintains the Keynesian tradition of rigidity in prices and nominal wages, so the New Keynesians try to find a more acceptable explanation. The views of many scientists such as Alvin Harvey Hansen, Wassily Leontief, Paul Samuelson, Simon Kuznets, and others related to New Keynesianism are still being applied by countries in the world, such as Indonesia. Keywords: neo keynesian, acceptable explanation, persistent unemployment and economic fluctuations
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Bremer, Björn, and Sean McDaniel. "The ideational foundations of social democratic austerity in the context of the great recession." Socio-Economic Review 18, no. 2 (2019): 439–63. http://dx.doi.org/10.1093/ser/mwz001.
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AbstractThe ‘austerity settlement’ has come to define the post-crisis European political economy. Since 2010, parties from across Europe’s political mainstream have implemented austerity and despite the apparent conflict with the interests of their traditional constituents, even social democratic parties have acquiesced to this settlement. However, within the existing literature ‘social democratic austerity’ is currently under-theorized as it is assumed to involve a rather straightforward adaptation of social democrats to neo- and/or ordoliberal ideas. Utilizing rich and original evidence from over 60 elite interviews with key social democratic stakeholders in France, Germany and the UK, this article contests this view. It demonstrates instead that a distinct set of ideas based on New Keynesianism, supply-side economics, and the social investment paradigm provide the ideational foundations for social democratic austerity post-crisis. Understanding this, it is argued, is critical in order to fully appreciate how and why austerity has become dominant in post-crisis Europe.
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Hope, Wayne. "Epochality, Global Capitalism and Ecology." tripleC: Communication, Capitalism & Critique. Open Access Journal for a Global Sustainable Information Society 16, no. 2 (2018): 562–76. http://dx.doi.org/10.31269/triplec.v16i2.1002.
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What type of capitalism do we live in today? My answer to this question draws upon two interrelated lines of argument. Firstly, I will argue that we inhabit an epoch of global capitalism. The precursors of this kind of capitalism originated from the late nineteenth century when the development of telegraph networks, modern transport systems and world time zones provided a global template for industrialisation and Western imperialism. From about 1980 a confluence of global events and processes bought a fully-fledged global capitalism into being. These included the collapse of Fordist Keynesianism, national Keynesianism and Soviet Communism along with First, Second and Third World demarcations; the international proliferation of neo-liberal policy regimes; the growth of transnational corporations in all economic sectors; the predominance of financialisation and the reconstitution of global workforces. Secondly, I will argue that the shift from organic surface energy to underground fossil energy intertwined the time of the earth with the time of human history as nature was being instrumentalised as a resource for humanity. Understanding the capitalist relations of power involved here requires that we rethink the emergence of industrial capitalism in the historical context of a world system built upon unequal socio-ecological exchange between core and periphery. Today, global capitalism has intensified the anthropogenic feedback loops associated with CO2 emissions and climate change and universalised the organisational frameworks of profit extraction and socio-ecological destruction. I refer here to the transnational systems of fossil fuel capitalism along with their interlinkages with financialisation and advertising/commodity fetishism. From the preceding lines of argument I will briefly outline the intra-capitalist and planetary-ecological crises out of which transnational coalitions of opposition might emerge.
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Farmer, Stephanie, and Sean Noonan. "Post-Neoliberalism or Deepened Neoliberalism? The Chicago Public Transportation Service and Elite Response during the Great Stagnation." Perspectives on Global Development and Technology 10, no. 1 (2011): 73–84. http://dx.doi.org/10.1163/156914911x555116.
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AbstractBoth mainstream and progressive commentators heralded President Obama’s economic stimulus program as sounding the death knell of the global neoliberal accumulation regime and inaugurating a form of Neo-Keynesianism. Although some funds have been earmarked for urban infrastructure projects, elite actors have used the shock of the crisis as a pretext to delimit and dismantle the public sector. In this article, we examine the case of Chicago’s public transportation in order to evaluate these countervailing forces. On one hand, federal stimulus money has been used to rehabilitate deteriorating public transit infrastructure. On the other hand, the response of local elites to budget shortfalls caused by the current economic crisis has involved support for a combination of service cuts and intensified attacks on unions to “share the burden”. Our study of neoliberalism in Chicago’s public transit sector illustrates how local elites strategically wield the state as an instrument for accumulation, whether by retrenching the role of the state or mobilizing for a more activist role of the state in seeding accumulation.
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CLIFT, BEN, and JIM TOMLINSON. "Complexity, Constraint and New Labour's Putative Neo-liberalism: A Reply to Colin Hay." British Journal of Political Science 37, no. 2 (2007): 378–81. http://dx.doi.org/10.1017/0007123407000191.
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Colin Hay's combative response is a welcome engagement with our ideas. Let us first set out where the battle lines are drawn. The most important points in Hay's shot across our bows relate to accommodating the notion of complexity; defining Keynesianism; invoking Labour's past; the relationship between fiscal and monetary policy; and the evidential basis for our argument.The first point involves admitting complexity when characterizing a political economy. In essence, we agree with Hay about the need to admit complexity into the explanation and characterization of New Labour's political economy, but he does not recognize in our account that this has been successfully achieved, nor do we see it in how he characterizes the relationship between New Labour and neo-liberalism. This is in part a disagreement about how to operationalize the insight about the need to admit greater complexity into the analysis of the political economy of New Labour's macroeconomic policy making. For example, our account of complexity accepts that, under a particular set of monetary policy conditions, which are not in any straightforward sense Keynesian, it is nevertheless legitimate and useful to consider the ‘Keynesianness’ of the fiscal policy regime. Hay, by contrast, sees this as a dubious manœuvre, no doubt fuelled by the unspecified ‘normative bias’ he detects in our work and refers to enigmatically but repeatedly.Similarly, we recognize that Hay has identified the need to admit complexity into analysis. However, in our reading of his work there remains a sense that, in the final analysis, New Labour's is a neo-liberal political economy.
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Pineda Nebot, Carmen, and Francisco Fonseca. "El predominio de la agenda neoliberal en el mundo contemporáneo: hegemonía y consecuencias = The predominance of the neoliberal agenda in the contemporary world: hegemony and consequences." UNIVERSITAS. Revista de Filosofía, Derecho y Política, no. 27 (December 13, 2017): 21. http://dx.doi.org/10.20318/universitas.2018.4017.
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RESUMEN: Hace treinta años la economía mundial, sobre todo en los países desarrollados, sufría, como ocurre ahora, una fuerte crisis económica. De aquella situación surgió un nuevo modelo de regulación de las economías capitalistas al que se llamó neoliberalismo. Desde entonces, con mayor o menor fuerza, ha estado presente en todos los países, aprovechando las condiciones de estos para repetir constantemente los mismos principios: la reducción del Estado, las ventajas del mercado, la autorregulación de éste, etc. Aunque sus premisas parezcan simples o sencillas el neoliberalismo es un proyecto complejo y cambiante, cuya sustentabilidad política y económica se reinventa constantemente y cuya gobernanza y espacialidad es necesario observar y analizar si se quiere avanzar en alternativas viables. El neoliberalismo no vive apartado de proyectos alternativos sino que se mezcla con las alternativas, tiene una forma de gobernanza que muta, que cambia. Con este artículo pretendemos conocer algo más sobre las semejanzas y diferencias que esta ideología presenta según los países.ABSTRACT: Thirty years ago the world economy, especially the developed countries, suffered, as it is the case now, a severe economic crisis. That situation arose a new regulatory model of capitalist economies is called neo-liberalism. Since then, with more or less force, has been present in all countries, taking advantage of these conditions to constantly repeat the same principles: the reduction of the State, the advantages of the market and self-regulation of this, etc. Although its premises seem simple or simple neo-liberalism is a complex and changing project whose political and economic sustainability constantly reinvents itself and whose governance and spatiality is necessary to observe and analyze whether you want to advance in viable alternatives. Neo-liberalism does not live away from alternative projects but is mixed with the alternatives, has a form of governance that mutates, which changes. With this communication we seek to know something more about the similarities and differences that this ideology presents of the countries. PALABRAS CLAVE: liberalismo, keynesianismo, neoliberalismo, ultraliberalismo.KEYWORDS: liberalism, keynesianism, neoliberalism, ultraliberalism.
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Robinson, William I. "Accumulation Crisis and Global Police State." Critical Sociology 45, no. 6 (2018): 845–58. http://dx.doi.org/10.1177/0896920518757054.
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Global police state refers to three interrelated developments. First are the ever more omnipresent systems of mass social control, repression, and warfare promoted by the ruling groups to contain the real and the potential rebellion of the global working class and surplus humanity. Second is how the global economy is itself based more and more on the development and deployment of these systems of warfare, social control, and repression simply as a means of making profit and continuing to accumulate capital in the face of stagnation – what I term militarized accumulation, or accumulation by repression – and that now goes well beyond military Keynesianism. And third is the increasing move towards political systems that can be characterized as 21st century fascism, or even in a broader sense, as totalitarian. Digitalization makes possible the creation of a global police state. The mounting crisis appears to cement the emerging digital economy with the global police state. There is a triangulation of far-right, authoritarian, and neo-fascist forces in civil society, reactionary political power in the state, and transnational corporate capital, especially speculative finance capital, the military–industrial–security complex, and the extractive industries – all three interwoven with high-tech or digital capital.
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SIMONOV, V. V. "Socio-economic Issues in the Theory and Practice of Institutional Christianity." Outlines of global transformations: politics, economics, law 11, no. 4 (2018): 83–103. http://dx.doi.org/10.23932/2542-0240-2018-11-4-83-103.
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The article outlines the problem of the current crisis of institutional Christianity, which is developing against the backdrop of a systemic crisis of the world economy. In this context, the problems of reducing the mass Christian religiosity of the modern “developed” society, the marginalization of the Christian consciousness, as well as the attempts of the institutional Churches to offer an answer to the current socio-economic issues of the present are considered. The basis for the development of socio-economic teaching of the Roman-catholic theology is provided by a long historical tradition. Its emergence is due to the reaction of the Holy See to the “crisis of faith” associated with the genesis of industrial capitalism. This teaching substantially evolved in time – from classical political economy and trade-unionism through post-industrialism and neo-liberalism in the direction of neo-Keynesianism, while retaining the quite traditional terminological framework of classical political economy. An important place in this took the overcoming of “Catholic Modernism”, on the one hand, and, on the other hand, attempts at institutional reception of a number of phenomena that have arisen within the Church. Russian Orthodox theology passed a more complex and less consistent path in the field under investigation. The genesis and development of industrial capitalism had no real effect on the domestic theological discourse – two or three publications on this subject are an exception. In fact, the first approach to the problem turned out to be the “Outlines of the Social Concept of the Russian Orthodox Church”. The positive potential of its content is connected precisely with the beginning of the path from concept to teaching. Due to a number of reasons, as socio-religious and economic, and conceptual, a system of social initiatives of the ROC is now in the early stages of development.
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Bokhan, A. "Diplomacy of development in ecologization of international economic relations." Balanced nature using, no. 4 (October 28, 2021): 77–83. http://dx.doi.org/10.33730/2310-4678.4.2021.253335.
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The article deals with the historical and modern aspects of greening of international economic relations in the context of scientific approaches, theories and concepts. The peculiarities of the influence of natural and ecological factors on the development of society, nature management, economic interactions are determined. A retrospective review of scientific economic thought is presented in the context of interdisciplinary environmental context. The complexity of the process and phenomena of evolutionary changes in politics, economics and ecology are identified. Methodology of coverage of environmental and economic concepts includes different approaches: philosophical, psychological, biological, technical and economic. The mechanisms of greening are reflected in the areas of neo-Keynesianism, neoclassicism, institutionalism, globalism, post-industrialism. Environmental threats affect society in different ways, but stimulate change and transform economic systems. The intensification of the environmental crisis and global problems has led to the expansion of international activities, environmental policy, economic culture and environmental awareness. New formats of international contacts, coordination of market and social interests should be considered in the context of theories of environmentalism, greening of the economy, economic modernization, resource provision, environmental security. The formation of progressive models of social development involves international economic integration, the inclusion of national environmental policies in the international security system, promoting cooperation and cooperation between countries. development diplomacy is seen as a tool for consolidating countries in solving global problems, intensifying international integration in the field of environmental activities, greening trade and economic activities and international business. The field of research on the greening of international economic relations is constantly expanding in the context of security, cooperation, resource management.
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Yankovskaya, Veronika V., Timur A. Mustafin, Dmitry A. Endovitsky, and Artem V. Krivosheev. "Corporate Social Responsibility as an Alternative Approach to Financial Risk Management: Advantages for Sustainable Development." Risks 10, no. 5 (2022): 106. http://dx.doi.org/10.3390/risks10050106.
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Using the example of the COVID-19 global crisis (2020), we prove the low effectiveness of the existing approach to managing the financial risks of investments based on commercial investments. For this, we performed an applied quantitative study based on the statistics from the World Bank for 2020 and the Forbes Global 2000 ranking in 2021, using as an example 17 developing countries with lower-middle and upper-middle incomes from different regions of the world. As an alternative, we suggest a new approach for managing the financial risks of investments, which is based on corporate social responsibility. It implies the placement of long-term, large-scale investments in social and ecological innovations based on the mechanism of public-private partnership. We substantiated the high effectiveness and advantages of the new approach. The new approach to financial risk management amid a crisis was more effective (in comparison with the existing approach) for businesses (ensures higher return on investments, allows avoiding losses), the government (contributes more to economic growth, the probability of which achievement is higher), and for society (supports SDGs to a larger extent and contributes to sustainable development). This paper contributes to the development of the Theory of Investments (Neo-Keynesianism) and fills a gap in the literature, bridging the gap between the Theory of Investments and the Theory of Sustainable Development—outlining the perspectives of the simultaneous overcoming of economic crises and supporting sustainable development during the management of financial investment risks based on corporate social responsibility.
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Nazarov, Nikita K., and Anton O. Semenov. "The Genesis of Conceptions of Human Capital in Economic Theory." Business Inform 2, no. 553 (2024): 314–23. http://dx.doi.org/10.32983/2222-4459-2024-2-314-323.
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The aim of the article is to study the evolution of scientists’ views on the category of human capital and to reproduce the genesis of this scientific category. Human capital is considered in the article as a multifactorial intellectual system that explores the emergence, development, formation and improvement under the influence of objective and subjective factors. The article analyzes the history of the development of economic thought and the evolution of the theory of human capital. A study of the system of scientific tools of representatives of mercantilism, the school of physiocrats, classical political economy, marginalism, neoliberalism, neoclassical theory, Keynesianism, institutional school and neo-institutionalism is carried out and the possibilities of its application in the global context of human development are determined. The objective economic, organizational, historical, scientific-technical, social and institutional prerequisites for the formation of the conception of human capital are defined. The conception of human capital is a new socioeconomic paradigm, the basis for the formation of which was the transition from the traditional economic system of development to the modern or innovative system. Within the framework of the theory of human capital, a person is considered through the prism of economic processes: social production, reproduction, economic activity. This was the basis for the rapid formation and spread of the theory of human capital. Objective reality emphasizes the importance of the formation and effective use of human capital, and significant scientific achievements on this issue confirm the long process of evolutionary development and relevance regardless of time intervals. The directions for further research include the development of methods for assessing human capital, in particular on the basis of the Human Development Index, a powerful tool for analyzing global processes and transformations in society.
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Komarovskaia, Natalya. "Defining Uncertainty." Issues of Economic Theory 26, no. 1 (2025): 51–64. https://doi.org/10.52342/2587-7666vte_2025_1_51_64.
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The paper examines the emergence and development of the concept of uncertainty in economic thought. A comparative analysis of the concept of uncertainty in the theories of Frank Knight and John Maynard Keynes is carried out. Despite the similarity of the interpretation of uncertainty, Knight and Keynes come to different conclusions regarding the role of economic uncertainty and the need to "fight" it. According to Keynes, uncertainty is one of the main reasons for fluctuations in investment and, accordingly, aggregate demand. Keynes considers it necessary to conduct fiscal policy to reduce the level of uncertainty. Unlike Keynes, Knight believes that market methods of overcoming uncertainty are sufficient and targeted government influence on the entire economic system is not required. The role of uncertainty in Joseph Schumpeter's theory of economic development is analyzed. According to Schumpeter, with technical progress the economic system will move closer to socialist planning, which should help reduce the level of uncertainty. Uncertainty is considered as the basis of the methodology of representatives of the neo-Austrian school Ludwig von Mises and Friedrich von Hayek, according to whom only a free market, through the transfer of information, helps to effectively solve the problem of choice in conditions of uncertainty associated with the variability of circumstances and people's preferences, as well as the dispersion of knowledge. The reasons for the decline of scientific interest in Knightian and Keynesian uncertainty in the mainstream, associated with the strengthening of formalization of economic theory, and the current growth of economists' attention to the role of uncertainty, caused by the emergence of many quantitative methods for measuring its level, are identified. An overview of the development of the concept of uncertainty in post-Keynesianism and new institutional economics is presented
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Zakharchenko, Volodymyr. "Political economic analysis of prerequisites for creation effective corporate structures." Ekonomìčna teorìâ 2024, no. 1 (2024): 5–27. http://dx.doi.org/10.15407/etet2024.01.005.
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The article provides political economic analysis of advantages and disadvantages of corporate structures of various types (joint stock companies, trusts, corporations, etc.). Based on their balance, we will try to identify the prerequisites for creating effective corporate structures in the past and now. To this end, economic theories of the development of the corporate sector of economics are considered in the works of representatives of mercantilism, classical political economy, historical school, Marxism, social democracy, neoclassicism, neoliberalism, institutionalism, evolutionary development, Keynesianism, neo-institutionalism, monetarism and transformation of capitalism. The following advantages of corporate structures are singled out and analyzed: concentration and centralization of capital, strong competitive positions, high market value of assets, high profitability, innovatization of economic activity, separation of management from property and limited responsibility of investors, democratization of capital, development of social (including international) division of labor and vertical integration of production, orientation to integration of production and creation of "islands of socialism," social responsibility. The main disadvantages of corporate structures include: contradictions between the owners of capital and between them and employees, increased property differentiation of citizens and the growth of a dormant class, closeness and family-clan character, influence on politicians, monopolization of markets, orientation to economic colonization of other countries, financialization of the economy, significant costs for the technostructure and inefficiency of its control, large transaction costs and neglect of small benefits, tax problems transactions. A superposition of advantages and disadvantages of corporate structures is carried out. It is noted that they have more advantages than disadvantages. It is emphasized that the most critical attitude towards corporate structures is noted among representatives of classical political economy (in particular, A. Smith), Marxism and the historical school. It is concluded that in modern conditions corporate structures are the most important organizational form of business and at the same time the basis of the economy of most countries, including Ukraine. In this regard, it is noted that it is necessary to take a maximum advantage of corporate structures and avoid their shortcomings.
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Lievens, Jean. "CAN CAPITALISM REFORM ITSELF AND MOVE TOWARDS A P2P SOCIETY?" P2P E INOVAÇÃO 2, no. 1 (2015): 6–24. http://dx.doi.org/10.21721/p2p.2015v2n1.p6-24.
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AbstractThe first Dutch book on P2P “Save the World” by Michel Bauwens had a good reception in Flanders. Even for the critics, the emerging way of ‘getting things done’ through global cooperation on “what is light” and re-localisation of “what is heavy” is making a lot of sense and is indeed the way to go. In this article, we examine two criticisms of the book: the feasibility of an unconditional basic income within the present system and the possibility to move gradually to a P2P society without “overthrowing” capitalism. Apart from the “low road” to peer-to-peer (after an economic collapse) and “the high road to peer-to-peer” (through neo-Keynesianism) a third way could open up, based on a reformed partner state facilitating peer production. Our conclusion is that under the present circumstances, with exponentially growing bottom-up initiatives, open source alternatives and the Internet as a new means of production, value creation and distribution, past failed experiences of ‘socialism in one country’ could today have more chances of succeeding on condition that a progressive government arms itself with a commons transitional plan. Such a transitional government would undoubtedly face many difficulties, but it would at least open the horizon for a better future. And it would certainly enjoy a wave of solidarity throughout the world. PODE O CAPITALISMO REFORMAR A SI PRÓPRIO E SE ENCAMINHAR PARA UMA SOCIEDADE P2P? ResumoO primeiro livro holandês sobre P2P “Save the World” de Michel Bauwens teve boa recepção em Flandres. Mesmo para os críticos, a nova forma de “conseguir fazer as coisas” através da cooperação sobre “o que é leve” e a relocalização de “o que é pesado” faz muito sentido e é, sem dúvida, o caminho a seguir. Neste artigo, analisamos duas críticas feitas ao livro: a viabilidade de renda básica incondicional dentro do sistema presente e a possibilidade de mudar gradualmente para uma sociedade P2P sem “derrubar” o Capitalismo.Além de uma “low road to peer-to-peer” (depois de um colapso econômico) e “the high road to peer-to-peer” (através do neo-keynesianismo) uma terceira via poderia ser aberta, baseada num estado parceiro reformado que facilitasse a produção do tipo “peer”. Concluímos assim que nas circunstâncias presentes, com iniciativas “bottom-up” crescendo exponencialmente, alternativas de código aberto e da Internet como novo meio de produção, criação e distribuição de valores, experiências falidas de 'socialismo em um só país' no passado poderiam agora ter mais chances de sucesso sob a condição de que um governo progressista se arme com um plano de transição dos comuns. Tal governo de transição poderia sem dúvida enfrentar muitas dificuldades, mas pelo menos abriria os horizontes para um futuro melhor. E certamente gozaria de uma onda de solidariedade no mundo inteiro.
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Zakharchenko, Volodymyr. "ECONOMIC REFORMS IN UKRAINE FROM THE STANDPOINT OF BEHAVIORAL ECONOMY." "EСONOMY. FINANСES. MANAGEMENT: Topical issues of science and practical activity", no. 2(68) (August 23, 2024): 7–31. http://dx.doi.org/10.37128/2411-4413-2024-2-1.
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The article shows that when developing and implementing economic reforms, irrational behavior of economic entities is not sufficiently taken into account. For its more complete consideration, it is proposed to make wider use of the theory and principles of behavioral economics – a special direction of institutional economics, within which the influence of psychological factors on the behavior of the economic subjects is investigated. It is noted that behavioral economics originated against the background of criticism of the theory of rational choice, which in its constructions traditionally relied on the concept of «economic man». It is noted that the «sprouts» of the theory of behavioral economics appeared in the works of the representatives of classical political economy, Keynesianism and neo-institutionalism, its beginnings – in the works of M. Alle, D. Ellsberg, L. Savage, G. Simon and J. Katons, and the basics – in the works of D. Kahneman, A. Tversky and their followers. It is shown that the work of D. Kahneman and A. Tversky stimulated the process of differentiation of behavioral economics and contributed to the emergence within its framework of several theories, namely: the choice of decisions in conditions of uncertainty and risk (prospects and cognitive heuristics), intertemporal choice (anomalies and behavioral finances), behavioral games (social preferences and equitable distribution, as well as the theory of nudging. For the practical use of theories of behavioral economics on their basis the basic principles of behavior of economic subjects are allocated: painful attitude to risks and losses; permanent improvement; compliance with a certain style of the behavior; problems of self-control; imitating crowd behavior; incorporating equity into the utility function; paternalism; nudging (najing). It is emphasized that the theories and principles of behavioral economics should be used when carrying out economic reforms. The experience of their use in foreign countries is summarized. The possibilities of their use in Ukraine during the implementation of the following reforms are revealed: institutional (state administration, national security and defense system, deoligarization, decentralization and regional policy) – to improve public management of the socio-economic development of the country, regions and territorial communities, to protect the country from russian military aggression; financial sector of the economy (monetary policy, tax and budget policy) – to encourage business and citizens to save, lend to the economy and pay taxes, improve control over budget expenditures; real sector of the economy (land, agriculture, industry and infrastructure) – to eliminate the monopoly on state property, in particular land, restoration of the effective owner, innovative development of the economy; social sphere (education, labor market, medical, pension and social protection system of the population) – to improve the quality of education and the level of employment, improve the system of providing social services, etc.; spheres of nature use (subsoil use and systems of state supervision in the field of environmental protection) – to ensure sustainable development of the country.
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Крылова, Е. В., and М. А. Карасев. "THE ORIGIN AND DEVELOPMENT OF THE EVOLUTIONARY APPROACH IN ECONOMIC SCIENCE." Прогрессивная экономика, no. 4 (May 9, 2024): 203–13. http://dx.doi.org/10.54861/27131211_2024_4_203.
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Целью статьи является изучение процессов становления и особенностей развития методологии эволюционного подхода к анализу социально-экономических систем. Авторы ограничиваются исследованием таких научных направлений английская классическая политическая экономия, маржинализм, неоклассическая экономическая теория, кейнсианство. Авторы считают, что научные достижения данных направлений сформировали теоретическую и методологическую систему, позволившую последующим научным направлениям развиваться в сторону эволюционной экономики как отдельного направления экономической науки. В статье определены общие аспекты рассматриваемых понятий: эволюционный подход, методология эволюционного подхода. Начиная с английской классической политической экономии, в методологии экономической науки используются принципы, сближающие ее с естественными науками – «естественный порядок» и «естественный отбор». Последователи классической политической экономии (представители маржинализма и неоклассической экономической теории) сохранили данную традицию при исследовании поведения человека в рыночной экономике. Показано, что маржиналисты и неоклассики не только использовали традиции классических исследований, но и продолжали разрабатывать новые методологические подходы и теории, позволившие в будущем сформировать отдельное научное направление, получившее название «эволюционная экономика». В процессе анализа методологических основ выявлены методологические принципы и методы исследования социально-экономические системы: методологический индивидуализм и полная рациональность; равновесный и предельный анализ. Принципы и методы позволили ученым построить модель «человека экономического». Сделан вывод, что зарождение и развитие эволюционного подхода происходило одновременно со становлением и развитием экономической науки. Теоретические и методологические открытия классической политэкономии и неоклассической экономической теории стали фундаментом, который позволил представителям неоинституциональной экономической теории создать самостоятельное научное направление – эволюционную экономику. The purpose of the article is to study the processes of formation and the peculiarities of the development of the methodology of the evolutionary approach to the analysis of socio-economic systems. The authors limit their research to such scientific areas as English classical political economy, marginalism, neoclassical economic theory, and Keynesianism. The authors believe that the scientific achievements of these areas have formed a theoretical and methodological system that allowed subsequent scientific directions to develop towards evolutionary economics as a separate area of economic science. The article defines the general aspects of the concepts under consideration: the evolutionary approach, the methodology of the evolutionary approach. Starting from the English classical political economy, the methodology of economics uses principles that bring it closer to the natural sciences – "natural order" and "natural selection". Followers of classical political economy (representatives of marginalism and neoclassical economic theory) have preserved this tradition in the study of human behavior in a market economy. It is shown that marginalists and neoclassicists not only used the traditions of classical research, but also continued to develop new methodological approaches and theories that allowed the formation of a separate scientific direction in the future, called "evolutionary economics". In the process of analyzing the methodological foundations, methodological principles and methods of studying socio-economic systems are revealed: methodological individualism and complete rationality; equilibrium and marginal analysis. The principles and methods allowed scientists to build a model of the "economic man". It is concluded that the origin and development of the evolutionary approach occurred simultaneously with the formation and development of economics. The theoretical and methodological discoveries of classical political economy and neoclassical economic theory became the foundation that allowed representatives of neo-institutional economic theory to create an independent scientific direction – evolutionary economics.
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Veggeland, Noralv. "European economies suffer a crisis of combination." Economics, Management and Sustainability 3, no. 1 (2018): 65–69. https://doi.org/10.14254/jems.2018.3-1.6.
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In Europe, where the financial crisis was transformed into national debt crises in several countries, the current phase of the denial cycle marked by an official policy approach predicated on the assumption that normal restored through a mix of austerity, privatization and less state involvement came through (anti-Keynes). The other view is this. Governmental investments – and financial decision-making to regulate the effective demand in national economies is based on the basic principles introduced by John Maynard Keynes in his ‘General Theory of Employment, Interest and Money (1936). The solution of the temporary crisis of the democratic capitalism might be linked to Keynes by his successors the neo-Keynesians. However, the representative democracy has become weak and fragmented, and under control of international powerful multinationals. The citizens not any longer look upon their national government as their representatives but as representatives for interest of foreign states and international organizations. Poor public politics and policy of austerity generating a crisis of combination are what come out of it.
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Jackson, Van. "A capital critique: Progressive alternatives to neo-liberal economic order." International Journal: Canada's Journal of Global Policy Analysis, June 8, 2023, 002070202311799. http://dx.doi.org/10.1177/00207020231179969.
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Advocates of progressive political economy agree that the neo-liberal economic order has worsened environmental degradation, worker precarity, and oligarchy, but what are the alternatives? This article relates left-progressive discourses about concrete approaches and policy ideas to implications for the global economic order. While progressives explicitly seek a more social democratic global order, the various policy initiatives in the progressive imaginary implicitly involve approaches to order-building that are in scarcely acknowledged competition with one another. While neo-Keynesianism, justice for the Global South, a Global Green New Deal, and degrowth are all anti–neo-liberal approaches that pursue the same broad aims—reducing inequality within the Global North, raising standards of living and buffering structural violence in the Global South, and responding to the climate crisis—these goals potentially exhibit the tensions of a trilemma.
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Yuan, Yuan. "A Contemporary Marxist Critique of Neoliberal Capitalism: Beyond Revolution and Neo-Keynesianism." Social Epistemology, May 21, 2024, 1–14. http://dx.doi.org/10.1080/02691728.2024.2346129.
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ДОВГАНЬ, А. С., та ВПО «ДОНАУИГС» ГОУ. "ЭКОНОМИЧЕСКАЯ ТЕОРИЯ : СУЩНОСТЬ, ФУНКЦИИ, МЕТОДОЛОГИЧЕСКИЙ АППАРАТ. РАЗВИТИЕ ЭКОНОМИЧЕСКОЙ ТЕОРИИ И НЕРЕШЁННЫЕ ПРОБЛЕМЫ ЭКОНОМИКИ". 22 жовтня 2021. https://doi.org/10.5281/zenodo.5592325.
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<strong>ЭКОНОМИЧЕСКАЯ ТЕОРИЯ : СУЩНОСТЬ, ФУНКЦИИ, МЕТОДОЛОГИЧЕСКИЙ АППАРАТ. РАЗВИТИЕ ЭКОНОМИЧЕСКОЙ ТЕОРИИ И НЕРЕШЁННЫЕ ПРОБЛЕМЫ ЭКОНОМИКИ</strong> / А. С. Довгань // Менеджер. Научный журнал. - № 3 (97).- 2021.- С. 47 -55. В статье рассмотрено понятие экономической теории: еѐ сущность, ведущие функции, методологические подходы к изучению. Рассмотрены предпосылки развития экономической теории, выделены отдельные теории и события, оказавшие существенное влияние на отдельные учения – неоклассическую школу, кейнсианство и неокейнсианство, подробно рассмотрены предпосылки возникновения новой экономической школы. Выделены отдельные проблемы экономической теории, связанные с глобализацией, сложными рыночными процессами и рядом иных изменений, происходящих в постиндустриальном обществе. <em><strong>ECONOMIC THEORY: ESSENCE, FUNCTIONS, METHODOLOGICAL APPARATUS. DEVELOPMENT OF ECONOMIC THEORY AND UNSOLVED PROBLEMS OF ECONOMY</strong></em> <em>The article discusses the concept of economic theory: its essence, leading functions, methodological approaches to the study. The preconditions for the development of economic theory are considered, individual theories and events that have had a significant impact on individual teachings - the neoclassical school, Keynesianism and neo-Keynesianism - are highlighted, the preconditions for the emergence of a new economic school are considered in detail. Separate problems of economic theory associated with globalization, complex market processes and a number of other changes taking place in post-industrial society are highlighted.</em>
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Neilson, David. "Beyond Mainstream Labour Market Theory And Precarity: Towards An Alternative To The Neoliberal Model Of Development." Labour, Employment and Work in New Zealand, February 20, 2015. http://dx.doi.org/10.26686/lew.v0i0.2222.
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This paper contextualises contemporary precarity within a mid-range focus on labour market segmentation that takes Marx’s long-range theory of the ‘relative surplus population’ as its point of departure. It also briefly outlines an alternative ‘model of development’ which could address the increasing precarity of a growing proportion of the world’s population. It first sets out a critical analysis of core elements of mainstream accounts of the labour market, which is a point of comparison in the later sections. The paper ends with an exploratory discussion about how neo-Marxist analysis can supplement Keynesianism, and how both need to be re-focused more clearly on the need to design a post-neoliberal model of development.
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Savchenko, Volodymyr, Serhii Stoika, and Vitalii Stoika. "PUBLIC AND PRIVATE PARTNERSHIP AS THE BASIS OF FINANCIAL AND ECONOMIC STABILITY OF THE STATE." Market Infrastructure, no. 56 (2021). http://dx.doi.org/10.32843/infrastruct56-8.
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The meanings of the term "public and private partnership" and its fundamental difference from other types of interaction between the state and the private sector are defined. The role of levers of state regulation of PPP in the conditions of growing globalization and related objective and subjective factors of economic, political and social transformations and diversity of forms of ownership in a market economy is described. Theoretical developments of neo-Keynesianism, the concept of "public goods", neo-institutionalism, which initiated a mixed economy, and later the introduction of the principles of state partnership are determined. It is shown that in today's world practice the most common form of cooperation between the state and private business, which is used in the implementation of large projects, is a concession. The provisions of the Law of Ukraine "On Public and Private Partnership", which provided the organizational and legal framework for the interaction of state and business, as well as the basic principles of PPP on a contractual basis are analyzed. Examples of the experience of the European Union and rapidly developing countries have been identified and proposed for use. The place of big business, especially small enterprises in the processes as being characterized by flexibility and opportunities to easily adapt to changing market conditions is assessed. It is stated that in Ukraine the disparity in the status of private partners should be eliminated through the provision of additional legal and economic guarantees by the state. It is argued that in a situation of inadequate public administration, insufficient financial support, prosperity of corruption at this stage, a specific form of PPP needs special attention, although in the long run the institutional form is more long-lasting and perfect. It is proved that the introduction of mechanisms and types of social partnership as a component of public and private partnership in our country is interrelated with the level of consolidation of society, development strategy and the situation in economic growth.