Search

The Colombian government presented to Congress, the National Development Plan (PND) 2018-2022 "Pact for Colombia, Pact for Equity," which was approved by Law 1955 of 2019. The reflections and proposals included in this paper refer to the main components of the PND, the reforms proposed, the Multi-Annual Program of Investments that accompanies it, as well as to its apparent omissions. The paper does not intend to cover all the topics in the PND. [ABSTRACT FROM AUTHOR]

In this paper the bases of monetary metalism are confronted with the institutionalist monetary fundaments of chartalism. Initially, an attempt is made to unmask the erroneous conception of money that still permeates economic and political doctrines in contemporary societies, in order to propose instead a new conception of money. This would be more adjusted to reality and historical evidence where it acts as a driving force for the development of the real variables. In this context, the nature of modern credit money is highlighted as a unit of account whose transferability incorporates the State as debtor. In this sense, it is concluded that a modern conception of money gives the monetary authority useful and concrete economic policy tools to deal with the problems of full employment and price stability that shake societies of today. [ABSTRACT FROM AUTHOR]

This paper uses the principle of maximum entropy to characterize certain aspects of classical political economy associated with the labor theory of value. First, it is shown that the free mobility of labor can give rise to a distribution of wages tending towards the mean and the existence of universal labor time as an emergent property of the system. Similarly, it is shown that the free mobility of capital can result in a tendency towards a normal rate of profit, while allowing for the possibility that the system will enter periods of crisis through time. [ABSTRACT FROM AUTHOR]

The paper analyzes the divergence in the evolution of two institutions of economic regulation: The Central Bank and the National Television Commission. These entities arose from the same constituent process, and were inspired by the same objective; however, they have had an opposite trajectory. While the Central Bank managed to flourish within the Colombian institutional landscape, the National Television Commission was unable to consolidate and was finally suppressed. We conclude that this difference is explained by two main reasons: on the one hand, different legal design and on the other, the institutional effectiveness. [ABSTRACT FROM AUTHOR]

It is an accepted idea that poverty is much more than low incomes. Consequently, the multidimensional approach has become an alternative way to understand that question. The aim of this paper is to propose an alternative estimation of multidimensional poverty in Colombia. The methodology uses unconventional dimensions, continuous and pseudo-continuous variables; it will estimate dimensional gaps and apply Bourguignon and Chakravarty's methodology. Although, there has been a noticeable reduction of headcount poverty, the multidimensional poverty gap and its severity have not shown the same trend. In addition, there are huge regional differences, and dimensions with high deprivation. [ABSTRACT FROM AUTHOR]