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This paper comments on the work of Rector et al. (1999a, 1999b). The poverty lines implicit in their restrictive material deprivation approach are disputed and the claim that America has triumphed over poverty is rejected. Evidence is presented showing that poverty among the poorest Americans has significantly increased and is now near an all time high. The long economic expansion since the recession of 1990-1991 has left hardcore poverty essentially unchanged and relative deprivation among the poorest of the poor has increased. [ABSTRACT FROM AUTHOR]

Drawing on early sociological analyses of how power and intergroup conflicts can affect the development of modern economies, this paper investigates how the recent Global Crisis (GC) has affected the stratification of the US society. The paper argues that the consumerist society has reinforced the historical stratification of social identities with white men in high-paid, high-social status managerial and financial occupations at the top, and black women in low-paid, low-status service occupations at the bottom. This paper calls for a deconstruction of the neoliberal individual into a unique combination of identities in a stratified capitalist society in order to reveal how social stratification has evolved during the GC. The paper finally concludes on the importance of heterogeneous identities in reflecting the diversity of societal and economic interests in order to address the issues of financial stability and sustainability at the corporate and societal levels. [ABSTRACT FROM AUTHOR]

This paper analyzes whether ideology-driven firms doing business based on ethical principles such as those envisioned by fair trade can survive in the market when competition increases. By formally evaluating the development of fair trade over time, we show that such firms cannot continue to exist with full compliance with ethical standards about fairness. We conceptualize fairness as wealth transfers to small local producers in developing countries and apply a Hotelling-model of horizontal competition in fairness. Results show that increasing the scale and scope of fair trade products in the market implies that concessions on fairness are needed to survive intensified competition. Ideology-driven fair trade firms will survive only if they differentiate. In the end, paradoxically, wealth transfers by ideology-driven firms can be upheld only by focusing on other attributes than fairness to attract consumers. Only then can ideology-driven firms maintain ethical standards in a market environment, while alleviating pressure on total wealth transfers to local producers. [ABSTRACT FROM AUTHOR]

There has been a great deal of research regard the effects of unions on union – non-union wage gap. Most of the studies regarding the impact of unions on wages have assumed that apart from the division between union and non-union workers, the labour market is relatively homogeneous. A number of economists, however, have argued that the labour market is segmented, implying that there are distinct labour markets and that some workers employment opportunities are concentrated in “bad jobs” while other workers employment opportunities are concentrated in “good jobs” which are rationed.This paper will explore whether the relative wage differential between union and non-union workers differs between the independent primary, subordinate primary and secondary labour markets. Labour market segments are defined using “job zones”. “Job zones” are distinct groups defined by the level of specific vocational preparation necessary for a particular occupation, allowing for the comparison of skill levels and training for each occupation. The data on “job zones” comes from the Occupational Information Network database (O*Net). We estimate separate equations for union and non-union workers in each segment using data from the Current Population Survey and calculate union non-union differentials for each labour market segment. The findings of this paper suggest that the greatest differentials are in secondary labour markets followed by differentials in the subordinate primary labour market and that the smallest wage differentials are in the independent primary labour market. [ABSTRACT FROM AUTHOR]

Researchers who have been concerned with the economic implications of military spending have mostly concentrated on its impact on economic growth, corruption, real exchange rate and inflation. In this paper we investigate the impact of military spending on black market premium, an area that has not been tackled so far. After adding a measure of military spending to a well established model of black market premium form the literature, we estimate the model by pooling annual data over the 1985 – 1998 period across 61 developing countries. Results from five panel specifications provide considerable evidence that higher military spending leads to higher black market premium. [ABSTRACT FROM AUTHOR]

This paper discusses the impact of the rise of non-governmental organizations (NGOs) and social entrepreneurs on economic development, with a special focus on how they have been used in Africa. The paper describes the decline of the state and the rise of NGOs as a force in economic development under neoliberalism. We then turn to two of the major problems with the roll-back of the state in Africa: the inherent weaknesses of nonstate actors in the development process, and the significant cost that is incurred by undermining the role of state. The paper concludes by suggesting the necessity of reinserting the state as the major vehicle for economic development, albeit in productive partnership with NGOs and social entrepreneurs. [ABSTRACT FROM PUBLISHER]

This paper carries out an analysis of the formation and transformation of social relations and networks of access to resources in the professional trajectory of micro-entrepreneurs operating in an urban informal African economy. The analysis of social networks is rooted in Granovetter's structural embeddedness framework combined with the dynamic and discursive conception of social relations of Harisson White (embeddedness and decoupling). Life stories of micro and small entrepreneurs in Bobo-Dioulasso (Burkina-Faso) are analyzed by mixing qualitative and quantitative methods. Results suggest that the construction of social networks and interpersonal relations of access to resources is a long-term process. A co-construction of social networks and economic activity is observed; it challenges the argument that social capital is a substitute for a lack of personal resources. The growth of small and micro activities is linked to the professionalization and stabilization of a social network, and even to the institutionalization of access to resources. [ABSTRACT FROM AUTHOR]

The 2015 UN Paris Agreement reinforced and declared compatible the two goals of avoiding dire climate change and maintaining global economic growth, and it specified that technological innovation is ‘critical’ to this joint achievement. Unfortunately, any confidence that near-term global economic growth is consistent with a stabilized climate is severely undermined by empirical evidence. Despite the rapid increase of alternative energies in recent decades, global GDP growth continues to require burning greater quantities of climate-destabilizing fossil fuels. The dim outlook for sufficiently reducing CO2while maintaining economic growth is underscored by global data and Germany specific data on the decoupling of GDP from CO2. This paper summarizes pertinent climate science, substantiates the dependence of economic growth on fossil fuels, and uses the Kaya identity to demonstrate the unfavorable prospects for reducing CO2while maintaining GDP growth. [ABSTRACT FROM PUBLISHER]

This paper considers the Note issued by the Pontifical Council for Justice and Peace in 2011 calling for reform of the international financial and monetary systems. Three main themes are identified: (a) the inequality of global economic growth over the last century, (b) the failings of economic liberalism as a guide for the conduct of policy and (c) the need for a degree of transfer of sovereignty from individual states to the global level. This paper articulates the meaning of these themes in economic terms and illustrates the nature of the changes in thought and practice that the Note considers necessary in the interests of the common good. [ABSTRACT FROM AUTHOR]

The last quarter of the 20th century saw an increase in violent conflicts across the globe. With connections between growth, poverty and conflict increasingly difficult to ignore, research has begun examining economic dimensions of conflict. This paper reviews and critiques this new research, much of it conducted by the World Bank. The research argues that war results from poverty, and poverty from misguided economic policies, so that reducing conflict requires redoubling efforts to promote growth via neo-liberal reforms. I criticize the conceptual underpinnings of this argument, including its overemphasis on individual incentives and its claim that social and economic injustices do not contribute to violent conflicts. Instead I argue that social economics provides valuable alternative perspectives on conflict that take seriously its social dimensions, especially problems of economic justice and the common good. [ABSTRACT FROM AUTHOR]

The term "sustainable consumption" is subject to many interpretations, from Agenda 21's hopeful assertion that governments should encourage less materialistic lifestyles based on new definitions of "wealth" and "prosperity", to the view prevalent in international policy discourse that green and ethical consumerism will be sufficient to transform markets to produce continual and "clean" economic growth. These different perspectives are examined using a conceptual framework derived from Cultural Theory, to illustrate their fundamentally competing beliefs about the nature of the environment and society, and the meanings attached to consumption. Cultural Theory argues that societies should develop pluralistic policies to include all perspectives. Using this framework, the paper examines the UK strategy for sustainable consumption, and identifies a number of failings in current policy. These are that the UK strategy is strongly biased towards individualistic, market-based and neo-liberal policies, so it can only respond to a small part of the problem of unsustainable consumption. Policy recommendations include measures to strengthen the input from competing cultures, to realize the potential for more collective, egalitarian and significantly less materialistic consumption patterns. [ABSTRACT FROM AUTHOR]

This paper compares the changing strategies of women and their families during the economic transition in China and Vietnam. Employment strategies to improve the family's well-being have resulted in increased rural-urban migration by men and young women, while middle-aged, married women remain in the countryside taking care of the farms and children. Although women have been able to take advantage of new opportunities for employment in nonstate firms and their own entrepreneurial endeavors, their employment strategies are limited by increasing discrimination in hiring and layoffs. Moreover, the policy problems play out within the family in changing bargaining power, including decisions about education and health care. [ABSTRACT FROM AUTHOR]

After a quarter century of environmental regulation in this country, significant environmental threats remain. Why has the regulatory system failed to fully address our environmental problems? The goal of this paper is to suggest that the roots of environmental problems, and the failure of environmental regulation, are deeply embedded in the processes that generate economic growth. The logic of the argument to be presented will take the following form: long-run economic growth relies on the creation of new industries and new forms of economic activity; these new forms of economic activity create new kinds of environmental problems; these new forms of economic activity constitute vested political interests that oppose environmental regulation. Each of the three main sections of the paper will provide theoretical and empirical justification for each component part of the basic argument. [ABSTRACT FROM AUTHOR]

This paper is based on the intuition of Dragonetti, an old Neapolitan economist, which argues that a society experiences economic and civic development if agents promote values and virtues, more than solely rely on punishments stated by law. We thus study the evolution of cooperative behaviors using a mechanism of endogenous social rewards for cooperation (SRC). These additional (material) rewards depend on the recognition that the society—each agent in the society—gives to cooperative strategies. We formalize it with a cultural evolution model in which the payoff matrix and the population shares coevolve. We find that this endogenous mechanism can produce a large variety of long-run situations (victory of cooperators, of non-cooperators or, finally, their coexistence) depending on the social features. Moreover, we analyze the differences between SRC and exogenous punishment, changes in cooperation costs or changes in repetition of interactions and we disentangle their respective contributions. [ABSTRACT FROM AUTHOR]

Social capital has recently been introduced in the economic literature as a source of economic growth. In this paper we study the interactions between social and human capital, and their contributions to economic growth in an endogenous growth model. The model indicates an increase in the relative importance of human capital when compared to social capital throughout the development process of the economy, as also described in some of the empirical literature on the topic. We derive theoretical and policy implications from our endogenous growth model, concluding that a subsidy for human capital has important implications for economic growth and allocation redistribution. A subsidy to social capital is not relevant for economic growth. Its only effect would be the increase in the social to human capital ratio of the economy. [ABSTRACT FROM AUTHOR]

Trust and ethnic diversity are important variables that may impact and explain different economic decisions. This paper presents theoretical models accompanied by a survey that deals with the relation between mistrust and risky economic activity (e.g., the postponement of receiving and paying for a risky asset). Using the theoretical models and surveys as a basis, we suggest that subjective discount rates and bids for a lottery can be used to measure levels of mistrust. The surveys are used to measure the level of mistrust between the Israeli majority (Jews) and minority groups (Israeli Arabs, Bedouins, and Palestinians), and between Israeli Jews from different districts. Based on the survey results we demonstrate the theoretical implications of the effect of mistrust (MT) on economic growth and resource allocation between the majority and minorities. We conclude that MT leads to inefficient resource allocation, which subsequently leads to low economic growth rates. [ABSTRACT FROM AUTHOR]

The conventional portrayal of the formal/informal economy dichotomy endows the formal economy with positive attributes and the informal economy with negative characteristics. Recently, this hierarchy has been inverted by scholars portraying the informal economy positively as a chosen alternative and path to progress. This paper evaluates critically this emergent representation. Reporting a study of the informal economy in the Ukraine conducted in 2005/2006, a diverse array of informal economic practices are identified that amongst some groups represent an involuntary means of livelihood but amongst others a chosen alternative and some of which seem beneficial and others deleterious to economic development and social cohesion. The outcome is a call to transcend simplistic binary hierarchical depictions of the formal economy as “bad”/informal economy as “good” (or the inverse) and towards a finer-grained and more nuanced understanding of the diverse forms of informal work and their varying consequences for economic development and social cohesion. [ABSTRACT FROM AUTHOR]

This paper investigates the effects of state-created homogeneity on the ability of socially distant individuals to trade. I show that where the state is absent, socially distant agents adopt the customs, practices and institutions of outsiders they desire to interact with. By creating a degree of homogeneity, agents signal their credibility to each other. These signals, in turn, enable inter-group exchange. Formal institutions provided by government can create noise in these signals. This noise incapacitates the information mechanism employed by heterogeneous agents to enable trade. [ABSTRACT FROM AUTHOR]

Applying a strategic decision-making perspective on the economics of business, we suggest that a competitive locality in the health industry is one that, relative to other localities, is effective in: (1) providing the healthcare that enables everyone to participate fully in the democratic development of the locality; (2) providing the healthcare that is democratically identified as a direct objective of this development; (3) contributing through the health industry to any other democratically determined objectives of the locality's development. The paper hypothesizes that strategic decision-making in organizations is an especially significant determinant of the impacts of the health industry. We conclude that: (i) a locality that suffers concentration in the power to determine the objectives of its health industry could not be strictly competitive in that industry; (ii) the first best way to achieve competitiveness in the health industry would be to democratize its strategic decision-making. What this would entail in practice is discussed in some detail. [ABSTRACT FROM AUTHOR]

Too often the minimum wage is conceived of as a small policy measure that will be of benefit to only a small segment of the labor market while imposing costs on another segment of the labor market. Unexplored, however, are the larger philosophic questions that such a small measure may actually raise. One such issue is the relationship between the minimum wage and democratic principles. In this paper I argue that the minimum wage furthers the ends of democratic society in that low-wage workers may achieve greater equality of standing with their piers to the extent that income inequality is at all lessened; their autonomy as individuals is enhanced through higher wages, which in turn enables them to claim the benefits of citizenship and participate more effectively in the democratic process; and it fosters greater economic development in that it raises the overall structure of a region and perhaps the productivity of that region. [ABSTRACT FROM AUTHOR]

Traditional models of economic development such as economic base and urban revitalization models have been found wanting. Both models rely on expert-based assessments of local development needs. More recent approaches call for a stronger focus on local development needs and resident skills as the basis for designing development strategies. One such neighborhood-based approach to development is presented in this paper. Its initial step was a survey of 444 households representing 1398 residents conducted in the Hamilton Hill and Vale neighborhoods of Schenectady, New York a 'downsized' community of about 65,000 residents in the Capital District of New York State. Survey results show a strong need for recreation, childcare, a grocery store, care for the elderly and home repairs. Residents' self-assessed job skills and interests appear to be well suited to meet these needs. Yet despite these promising results, barriers to neighborhood-based development persist. These barriers reiterate the long history of isolation prevalent in US inner city neighborhoods. Two issues are particularly characteristic of the barriers that continue to keep urban neighborhoods isolated from their larger context. They are: (1) a lack of effective communication between local residents and decision makers; and (2) a lack of valuation systems that properly assess the value of social and environmental context and their contributions to local development. [ABSTRACT FROM AUTHOR]

Based on N. Georgescu-Roegen's bioeconomic paradigm, this paper reconsiders the neoclassical economic paradigm which endorses continuous global economic growth through stimulated trade. We suggest that, in view of sustainability, it is fundamental to acknowledge: (1) the importance of preserving the identity and integrity of economic systems in different regions of the world through enlarging as much as possible self-sufficiency and equity assessed at national and regional levels; and (2) the importance of including respect for biospheric equilibria as one criterion to be used to regulate world economic activity and trade. We examine differences and similarities of the past and present patterns of ecological degradation. We also present two types of efficiency to assess technological changes and the drive toward unsustainability. Then we discuss an entropy-based theory of North-South trade issues and three points for promotion of sustainability. Finally, we show that the true origin of current ecological crisis lies in a deep change in the perception of the relation between humans and nature that affects the mode of technological development of modern society. [ABSTRACT FROM AUTHOR]

This paper makes the case for developing accounts of economic activity by placing such activity in its ambient cultural contexts. It is shown that doing so provides the basis for credibly attributing significance to economic acts and coming to terms with the belief structures economic agents employ, e.g., what they expect of each other, expect others expect of them, and so on. The role of culture systems as social orchestrators is discussed. The implications of a context-sensitive explanatory approach for the commitment to view economic behavior as rational are considered. A wider conception of economic rationality is proposed. [ABSTRACT FROM AUTHOR]

This paper attempts to show that convergence or divergence in the European Union (EU) will be influenced by developments in the periphery of Europe to a considerable extent, although the core situation cannot be ignored. In essence, therefore, it is the relationship between core and periphery that will determine the future of the EU. The main thesis of this study is that the EU economic position is such that divergence is more likely to occur than convergence. The focus of the analysis is what has come to be known as ‘Peripheral Fordism’, which enables us lo suggest that periphery prospects for economic development are predicated upon substantial expansion of their industrial sectors based on indigenous forces. It is therefore the existing institutional structure within the EU that poses obstacles to convergence. [ABSTRACT FROM AUTHOR]

Public Health Systems (PHS) are under continuous transformation in line with economic, political, and ideological changes in capitalist economies. The current stage of capitalism is underpinned by the process of financialization, meaning an increasing dominance of financial actors, markets, practices, measurements, and narratives over other agents, including the State. This article examines how financialization has been reshaping PHS, with an in-depth study of the French case. First, we suggest how to incorporate the concept of financialization into the research on PHS transformation. We then apply this concept to reassess the trajectory of the French system from the 1990s onwards. We show the increasing participation of financial capital for long-term, short-term, and infrastructure financing, occupying roles previously fulfilled by the public sector. We then discuss how the adoption of financialized strategies led to shifts in how public actors behave, and the potentially adverse effects for solidarity, stability, and democratic participation. [ABSTRACT FROM AUTHOR]

Utilising cross-country data, this article analyses the implications of promoting inclusive legal justice for inclusive economic development. The analysis is carried out by quantifying the effects of inclusive legal justice in terms of inclusive criminal justice and in terms of inclusive civil justice on inclusive economic development. The results suggest that, accounting for the endogeneity of inclusive legal justice, both criminal and civil, countries with higher levels of inclusive legal justice are very likely to enjoy higher real GDP per capita, improved equal economic opportunity, lower socio-economic disparity and more inclusive economic development. These findings reveal that inclusive economic development is unlikely to be achieved without inclusive legal justice. [ABSTRACT FROM AUTHOR]

Kaleckians and partisans of the capital monopoly approach have argued that additional outlays on unproductive labor increase economic activity under three conditions: investment is sensitive to realized rates of capacity utilization; savings out of wages and salaries arc assumed away; prices are fixed by a markup over unit direct costs. The present model examines what happens when the last hypothesis is modified. i.e., when megacorps are assumed to fix prices on the basis of total unit costs, more specifically on the basis of target-return pricing procedures. Because higher costs are shifted on to productive labor. through higher prices and a reduction in their real wages, additional unproductive outlays may have a negative impact on economic activity. It turns out, in addition, that one must carefully distinguish between unproductive labor outlays and unproductive capital outlays when firms are assumed to shift these additional costs to consumers, on the basis of target-return pricing procedures. [ABSTRACT FROM AUTHOR]

This study is the first attempt at promoting agricultural input subsidy policies in a computable general equilibrium framework on two main dimensions of food security (i.e. food availability and access to food), poverty and income distribution in Malaysia for all ethnic groups. This study investigates the short-run impacts of two subsidy removal policy and one subsidy expansion policy using 2010 input–output table. Results show that both subsidy removal policies negatively influence agricultural sectors and economic growth of Malaysia while the expansion policy influence them positively. The removal policies also decrease food availability and access to food and, consequently, increase poverty at the national level and the poverty level of Malay household, while the expansion policy increases food availability and access to food and alleviate the poverty level of Malay household. The complete removal policy without paddy/rice subsidies increases rice production and raises food availability and access to food commodities (or food security) in the country resulting in a lesser increase in poverty compared to the complete removal policy. [ABSTRACT FROM AUTHOR]

Despite its proposed importance for economic performance, there seems to be little agreement on what trust really is. In economics, trust is generally viewed as a belief regarding the action that is to be expected from others. This contrasts with the view that trust is a way of acting. In his influential book on the nature of explanation in the social sciences, Jon Elster argues that trusting is to act with few precautions. I argue that it is possible to reconcile these seemingly conflicting views about trust. I develop a simple model of trust where both beliefs and precautions play an important role – and where Elster’s understanding of trust can be viewed as a special case. [ABSTRACT FROM PUBLISHER]

The Asian and especially the global crisis of 2008 have catalyzed decentralization of the developing world’s financial governance architecture. I understand this state of affairs via the concept of “productive incoherence” which is apparent in a denser, multilayered development financial architecture that is emerging as a consequence of heterogeneous practical adjustments to changing circumstances rather than as the embodiment of a coherent doctrine. Drawing on Albert Hirschman, I argue that the absence of an encompassing theoretical blueprint for a new economic system—i.e. a new “ism” to replace neoliberalism—is in fact a vitally important virtue. If we cannot live without a new “ism,” I propose “Hirschmanian Possibilism” as a new doctrine—one that rejects an overarching theoretical framework from which to deduce the singly appropriate institutional structure of the economy. Hirschmanian Possibilism asserts instead the value of productive incoherence as a framework for pursuing democratic, ethically viable development institutions. [ABSTRACT FROM AUTHOR]

The object of this article is to examine the relation between social inequalities and pollution. First of all we provide a survey demonstrating that, from a theoretical point of view, a decrease in inequality has an uncertain impact on the environment. Second, on the basis of these conceptual considerations, we propose an econometric analysis based on panel data (fixed-effects and dynamic panel data models) concerning developing and transition countries for the 1988-2003 period. We examine specifically the effect of inequality on the extent of local pollution (sulphur dioxide emissions and organic water pollution) by integrating the Gini index into the formulation of the environmental Kuznets' curve. [ABSTRACT FROM AUTHOR]

The source of economic development and growth is specialization in the context of comparative advantage. Growth in capital and other inputs, energy use, and technological change are insufficient to explain the magnitude of growth. Earlier critics of economic growth failed to connect growth to specialization, and so were distracted by nostalgia and sentiment. The specialization process itself produces three significant problems. First, as economies become more specialized, they become less flexible. Second, diversity tends to make ecological systems more robust, while specialization weakens them. Third, specialization produces social isolation. Solutions to these problems may be found in participatory, indicative planning. [ABSTRACT FROM AUTHOR]

Social capital is a contested concept, embraced by the mainstream as "the missing link" in economic analysis. This article suggests a way to turn it into a more meaningful understanding of how social relations matter in the economy. It will do so by unpacking the concept into various elements, distinguishing what social relations are from what they do, and by recognizing power in social relationships. We will illustrate our alternative approach with two case studies on the Small and Medium scale Enterprises (SME) footwear sector in Ethiopia and Vietnam. We conclude with suggestions on how this more contextual approach to the understanding of the economic influences of social relations may contribute to social economics. [ABSTRACT FROM AUTHOR]

More than 120 municipalities (cities, towns, and counties) have introduced living wage ordinances. These laws mandate that certain employers in their jurisdiction pay their workers wages that are above federal and state minimum levels. The opponents of these laws argue that these ordinances have adverse impacts on local labor markets. This study considers rates of growth of employment and unemployment trends in a sample of these cities before and after they introduced their living wage ordinances. It finds that while a few cities have had negative labor market experiences after introducing their living wage law these cities represent the exception rather than the rule. [ABSTRACT FROM AUTHOR]

A theoretical analysis of contemporary institutional changes in the developed economies is attempted in order to characterize what a post fordist growth regime could be. One starts to recall some stylized facts about the present growth regime, i.e. about the contemporary dynamics of productivity on one side and of demand formation on the other side. We then discuss the main theoretical tools provided by the Regulation theory to analyse the institutional nexus which frames the growth regimes. The analytical framework of institutional change that we derive insist on the predominance at each period of one of the five structural forms that are distinguished by the Regulation School. As did the dynamics of institutional changes with the wage labor relationships in the previous period, today's evolutions of the forms of competition (broadly taken) condition all institutional changes. This gives us a general grid to define the features of a post Fordist regime. Still differences in history and structures leave room for sizeable differentiation in the national trajectories of the developed economies, all the more so that competition between nation States much prevent them to launch the structural policies that would be relevant with the new regime. [ABSTRACT FROM AUTHOR]

The article focuses on the international dispute over intellectual property in the U.S. The regulation of intellectual property possesses economic characteristics not found in tangible commodity property. It is readily divisible and transportable and can be easily appropriated by many parties. It plays a pivotal role in the development prospects of many countries which they cannot afford to be excluded from accessing it. The protection of intellectual property is to stimulate economic progress in various ways by providing an incentive for people to spend money on research and innovation, improving the quality of competition, enhancing an economy's prospects for growth and development and by providing new jobs through the continual dynamic transformation of the economic structure.

The article focuses on the issues of macroeconomics of a steady state. It addresses how the essentially cyclical character of macroeconomic activity square with the impression of a steady state. It also deals with the consequences of a steady state for macroeconomic policy. In addition, it attempts to answer if a steady state even consistent with a growth prone economy based on capitalist forms of business organization. To give further light on the matter, review of literature, critical analyses and views of the author are presented. .

The article focuses on the relationship between social economics and feminism, and discusses its relevance to the future development of social economics by explicating the challenges feminism for social economics in the twenty-first century. The author offers a brief summary concerning the similarities between the various themes and principles of feminism and social economics, as well as discusses the evolution of social economics in the U.S. Furthermore, the feminists' challenges to social economics are also discussed.