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Market rules, changes in regulations for users and producers, technological innovation and economic development are important factors shaping energy transitions. Therefore, explaining energy transitions requires a multidisciplinary insight to investigate these factors. The study of energy transitions faces an analytical and methodological challenge, particularly in communicating trends shaping the energy systems in developing economies. The existing literature is not consistent in identifying these disciplines nor proposing how they can be combined. In this sense, this paper proposes a new and simple methodological path to assess variables and theories. It conceptualizes energy transitions as a co-evolution of two types of systems: system innovation with its roots in evolutionary, institutional economics, science and technology studies (STS); and energy systems with its roots in neoclassical and evolutionary economics. From how to conduct a systematic literature review, to how best integrate theories and the analytical framework in which key questions can be answered, the paper elevates the role of political science, as policies play a prominent role in shaping energy transitions. This paper responds to those who have pointed out that the political economy of energy transitions is a vastly understudied area. [ABSTRACT FROM AUTHOR]

This study investigated whether economic motivations are a key factor in international migration decisions. Applying the selectivity-corrected expected income for migrants and stayers, the difference in expected income for an individual in origin and destination countries was analyzed. This study used data from the U.S. and Canada to empirically test the role of income gaps in migration decisions. The main difficulty in analyzing the role of the gaps lies in collecting both income streams for the same individual, since once an individual migrates to a different country, their potential income in the origin country cannot be observed; and vice versa for stayers. Therefore, directly applying the average income of migrants (conditionally relying on their observed characteristics) to estimate the income of stayers if they had migrated results in a biased estimate of stayers' income. Hence, there is a need to account for selectivity in the migration decision and calculate selectivity-corrected income. The key finding in this study is that the expected income gap is positively associated with, and statistically significant for, international migration decisions for the U.S. and Canada. One of the main reasons may be the easy transfer of labor skills between countries that have similar labor environments and cultural backgrounds. [ABSTRACT FROM AUTHOR]

In this paper I consider various shifts in my research and understanding stimulated by seeking how to combat social ecological crises connected to modern economies. The discussion and critical reflections are structured around five papers that were submitted to Environmental Values in an open call to address my work. A common aspect is the move away from neoclassical environmental economics, and its reductionist monetary valuation, to a more realist theory and multiple methods. This relates to my work on environmental ethics, plural values, stated preference validity and deliberative monetary valuation. Expanding beyond the narrow confines of mainstream orthodoxy has involved exploring a range of other disciplines (e.g. applied philosophy, social psychology, human geography, political science, social anthropology, history of thought and philosophy of science) and learning from this literature to rethink economics and develop social ecological economics. A broad range of subjects are covered here, including: personal responsibility, social practice, psychology of the individual, participatory processes, value (intrinsic, instrumental and relational), Nature–society relationships and interdependencies, critical realism and the conduct of unifying interdisciplinary science. I end with a series of comments concerning the failings of orthodox economics and the conduct of scientific research for social ecological transformation. [ABSTRACT FROM AUTHOR]

The three main components of productivity change are technical change, change in technical efficiency, and returns to scale effects. Solow measured productivity change at the macroeconomic level as the difference between the growth rates of output and input which, under constant returns to scale and in the absence of any technical inefficiency, is a measure of technical change. The focus in this monograph is on the individual firm and both technical inefficiency and variable returns to scale are accommodated. In neoclassical production economics, productivity change can be measured alternatively from the production, cost, profit, or distance functions. In continuous time analysis, one measures therates of productivity and technical change. In discrete time, one measuresindexes of productivity and technical change over time. This work describes the Tornqvist, Fisher, and Malmquist productivity indexes along with the Luenberger productivity indicator and a Geometric Young index and how they relate to one another. The relevant nonparametric DEA models for measuring the different productivity indexes are formulated for nonparametric analysis of productivity, technical change, and change in efficiency. [ABSTRACT FROM AUTHOR]

Neoclassical economics has become the predominant school of economic thought, influencing scholarship on management, organizations, and business ethics. However, many feminist economists challenge the individualist and positivist foundations of neoclassical economic epistemology, arguing instead that purportedly gender-neutral and value-free methods routinely and systematically leave out and undervalue women. Extending this proposition, this article introduces the epistemic foundations of feminist economics and illustrates how they can produce novel insights relevant for business ethics. In particular, by examining economic phenomena from the point of view of the people they affect, feminist economic epistemology is able to elucidate the ways in which power asymmetries and gender norms that constitute the social world can be reflected in business practices. I apply this methodological insight to three case studies of global supply chains to challenge the neoclassical assertion that including women in labor markets necessarily catalyzes gender equality. [ABSTRACT FROM AUTHOR]

Amartya Sen is often described as an insightful critic of mainstream economics, and in particular, his work in development economics, alongside the construction of the capabilities approach, has been associated with endeavors to revisit both the theory and practice of the discipline. Despite his in-depth criticisms of certain aspects of mainstream economics, Sen's extensive use of formal methods is suggestive of an ontological tension, one identified by Thorstein Veblen when commenting on some of his contemporaries and originally introducing the term "neoclassical." Veblen argued that the work of these economists involved both an implicit recognition of a causal processual social ontology he associated with modern, thoroughly evolutionary, approaches and a commitment to a taxonomic conception of science—the latter relying on a set of methods that presupposed an associationist ontology of event regularities. For Veblen, the adherence to taxonomic methods was the classical feature of their work, and the commitment to an evolutionary viewpoint was the neo aspect. This article argues that the same tension runs through Sen's contributions and that he is neoclassical in this specifically Veblenian sense. The assessment of the ontological inconsistencies in Sen's work is shown to shed light on its reception within the economics academy. [ABSTRACT FROM AUTHOR]

The reviewed book, "Intangible Flow Theory: A New Way for Conceptualizing Embeddedness?" by Tiago Cardao-Pito, aims to provide a fresh perspective on the double embeddedness of economic actions, processes, and organizations in both social and natural contexts. The author argues that traditional economic approaches often overlook the importance of intangible flows, which are identifiable but not precisely measurable, leading to observational biases and normative presumptions. The book proposes intangible flow theory as an alternative perspective that emphasizes the complexity and ubiquity of intangible flows, offering insights into social ontology and the construction of social relations. While the book provides a concrete example of applying intangible flow theory to assess the level of intangibility in a firm, it lacks specific theoretical mechanisms and leaves some questions unanswered, potentially limiting its practicality and impact. Overall, the book offers a valuable contribution to understanding socio-economic provisioning processes and invites further interdisciplinary research. [Extracted from the article]

The text discusses the book "Ethics in Business: An Ontological Perspective" by Conceição Soares, which addresses business ethics from a philosophical perspective. The book presents five chapters that seek to establish a solid foundation for business ethics, discussing everything from neoclassical economics to sociological theories of the company. The author proposes an ethics of generosity as the basis for business conduct. The work is praised by its author, Conceição Soares, who acknowledges that it is not possible to address everything at once. She highlights the importance of continuing to investigate and write about the subject. The author invites readers to read the book, which contains a vast amount of systematized material about the past, and thanks them for making it accessible. The work is seen as a starting point for new adventures in the world of the spirit. [Extracted from the article]

The Balkan countries undergoing the transition must advance their economies to be more competitive. The aim of this paper is to analyse economic growth with a primary focus on the analysis of economic convergence in the Balkan region in the period of 1997-2020. The research analyses the following Balkan economies: Albania, Bosnia and Herzegovina, Bulgaria, Croatia, Greece, Montenegro, North Macedonia, Romania, Serbia, and Slovenia. This study applies Gross Domestic Product (GDP) as a measure of economic growth and is based on the neoclassical economic growth model: the Solow's convergence concept. The results show that the Balkan countries experienced economic convergence with a speed of 1.82% in the cross-sectional model and 7.87% in the panel data model. It means that the initially less developed economies noted higher economic growth than those richer. [ABSTRACT FROM AUTHOR]

Neoclassical economics has established itself as the discipline of rational choice. Consequently, under methodological individualism and in the context of consumption, an agent's choice is based on the ordering of preferences determined exogenously, disregarding any emotional, biological influences, or factors from socio-economic dynamics. Therefore, this paper aims to present an alternative framework for the decision-making of economic individuals at a theoretical and formal-mathematical level, grounded in the principles of evolutionary economics and complex adaptive systems. It is argued that the process of making choices in consumption is inherent to social dynamics. From an individual-holistic perspective, the mechanism motivating action can be characterized as an evolutionary algorithm that integrates biological, historical, cultural, social class, and market competition influences as endogenous elements in determining choice and consumption behavior. [ABSTRACT FROM AUTHOR]

We present an economics framework appropriate to the exceptionally broad scope of the climate change problem. This considers that economic and social processes, particularly those involved in purposive transitions of energy technologies and systems, involve the interplay between three distinct domains of decision-making and associated actors. The first concerns small-scale and often short-term decision-making, much of which reflects extensive 'satisficing' and habituation as identified in behavioural economics. Calculated economic optimization decisions, especially of companies in the energy and energy-intensive industries, then best reflect the core assumptions of neoclassical and welfare economics, including discrete market failures. Third, at the largest scale are strategic judgements made by big actors (e.g. governments, large multinational companies) relevant to transformation of complex systems over long periods—particularly concerning innovation and structural changes, for which lessons from theories of evolutionary and institutional economics are most relevant. Economically, these can be logically mapped in relation to the technology (or more accurately, 'best practice') frontier. Each has corresponding policy implications: most directly, respectively in terms of (i) standards and engagement to establish norms; (ii) competitive markets with the critical role of prices; and (iii) strategic investment in innovation and infrastructure. Each faces challenges of implementation and government failure, as observed, for example, with wholly inadequate carbon pricing to date, naïve and ineffective approaches to enhancing energy efficiency, or misdirected support to R&D. Based on the domain distinctions, we argue that the corresponding pillars of policy are naturally complementary, and can be mutually supportive: strong standards and norms on energy efficiency, for example, would enhance the political space for carbon pricing by reducing its direct consumer impacts, while carbon pricing has multiple positive two-way interactions with enhanced low-carbon innovation. From this we also posit a 'carbon pricing paradox': that adequate carbon prices, the central recommendation of most economists, are in most jurisdictions only feasible (or even optimal) if equal analytic and policy attention is devoted to the other pillars, and the wider context of macroeconomic and fiscal policies. Only these other aspects can reduce the absolute cost impact of carbon pricing (potentially turning into a gain) and offer consumers and businesses better lower-carbon alternatives, which are critical to establishing climate-compatible pricing structures across our economies. [ABSTRACT FROM AUTHOR]

Copyright of Research Papers of the Wroclaw University of Economics / Prace Naukowe Uniwersytetu Ekonomicznego we Wroclawiu is the property of Uniwersytet Ekonomiczny we Wroclawiu and its content may not be copied or emailed to multiple sites or posted to a listserv without the copyright holder's express written permission. However, users may print, download, or email articles for individual use. This abstract may be abridged. No warranty is given about the accuracy of the copy. Users should refer to the original published version of the material for the full abstract. (Copyright applies to all Abstracts.)

n order to analyze the configuration and transformations of tax systems in Latin America, it is essential to know how taxpayers perceive taxes. This article revisits the discussions on economic elites and tax systems in the region in order to explore the tax perceptions of the economic elite in the province of Córdoba, Argentina. Using a positional approach that defines elites according to institutional positions, 23 interviews were conducted with businessmen and businesswomen from Córdoba who participated in the campaign “Córdoba, here we are.” It is highlighted that they occupy heterogeneous positions in the productive structure but hold homogeneous perceptions regarding taxes. In turn, moral and economic critiques of the tax system by businesspeople are identified. The former are expressed from a position of moral representation of businesspeople, while the latter are based on notions of neoclassical expert knowledge and circulate as common sense among the interviewees. It is concluded that moral objections reflect the scope of the agency of the business sector, as the capacity of the business sector to say and be heard on social and political issues. It is also argued that economic critiques express the limits of business sector agency, since the adoption of technical-economic schemes as common sense hinders the thematization of facts, experiences, and subjects outside the concepts of neoclassical economics. [ABSTRACT FROM AUTHOR]

We start from Robinson's article on Harrod's Dynamic Economics and her criticism that technological change was exogenous: 'in Mr. Harrod's world, technical progress falls like the gentle dew from heaven and is not susceptible to any economic influence'. Throughout her work she highlighted the endogenous sources of technological progress and growth and pre-empted both the National Systems of Innovation (NSI) literature and New Growth Theory (NGT), where the latter (NGT) appears to be neither new, nor able to explain innovation, growth and convergence trajectories. We also show that the productivity slowdown in advanced economies is explained by a fall in the wage share, a drop in the rate of accumulation of capital and prioritisation of incentives for R&D over policy instruments to diffuse innovation. While for developing economies, the failure of neoclassical economics to resolve the paradox of promoting market incentives for diffusion, while protecting intellectual property rights, implies an inevitable slowing of convergence. [ABSTRACT FROM AUTHOR]

This essay is a comment on the paper authored by Fischer, Ellman and Schocet (2021, The decline of substance over form in accounting. Accounting, economics, and law: A convivium. (2023)) who argue that the trend in financial reporting regulation involves de-emphasizing the important of economic substance relative to form in how auditors are to perceive their role. The danger foreseen by the authors is the further shrinking of the leeway for professional judgment, which is an important hallmark of a true professional. Agreeing the authors have raised a crucial issue for any group claiming professional status, I try to add to the discussion by pointing out that form and substance in the realm of financial reporting regulation are not antipodes but complementary parts of a process of continuous redefining of what economic substance is. Social reality is socially constructed and as such choices of form made by humans effectively shape substance. Given the capture of accounting by economics during the 1960s, accountants have lost an appreciation for the tentativeness of economic substance and now serve not as participants in shaping economic substance but as enforcers of an imaginary economic substance that derives from the assumptions and values in the ideology of neoclassical economics. [ABSTRACT FROM AUTHOR]

Based on the foundations that characterize fully constituted sciences, the article questions the scientific status of economics and discusses why various paradigms coexist within it, whose theoretical and methodological foundations conflict. The first part reviews the cycles of the predominant theoretical currents and analyzes the scientific rigor of the main paradigms; in particular, it examines the inconsistencies and ambiguities of the neoclassical paradigm, which, despite being currently assumed to be dominant, is far from satisfying the basic demands of scientific work. In the second part, the confluence of the different theoretical bodies is discussed, and the class, political, and ideological component of each one is contrasted. To meet the demands imposed by the advancement of economics as a scientific discipline, it must be assumed that economic theories are not politically neutral; that, beyond the preaching of pseudo-neutrality that usually masks apologetic desires, it is necessary to recognize the close relationship that exists between class interests, objectivity, and scientific work. [ABSTRACT FROM AUTHOR]

Objective/context: The boom-and-bust of New World slavery in the nineteenth century has always been a major topic of scholarship. In this essay, I suggest that the literature devoted to this theme, the so-called “capitalism and slavery debate,” has made capital invisible as a category of analysis due to its over-reliance on classical and neoclassical economics. As a result, slavery itself has been poorly historicized. My purpose is to put forth an alternative framework to restore the historicity of capital and slavery. Methodology: The article explores critical value theory to conceptualize capital and capitalism in historically meaningful terms. It argues that value creation is never confined to one country. It requires a historically transnational social formation that turns concrete labor into abstract labor and use-values into commodities through the multi-scale operatives of world money and world markets. The history of slavery should be narrated within this broader globalizing setting. Originality: The article’s claim is that the global value relations of industrial capital redetermined spatial relations between town and country, capital and labor, and production and consumption, engendering overlapping layers of a world geography of accumulation that both stimulated and challenged slavery. Conclusions: While most scholars present the relation between slavery and capitalism as constant for the period 1780-1880, I conclude that New World slavery went through two moments of boom-and-bust (c.1780-c.1820 and c.1830-1880), which were formed through, respectively, the global value relations of cotton production and coal-and-iron industrialism. [ABSTRACT FROM AUTHOR]

Contextual economics weaves together aspects of orthodox and heterodox economics theories (e.g. feminist, ecological, Keynesian and Marxist economics) in such a way that (re)interprets formal economic models within changing social, historical and environmental contexts. Drawing from the work of Julie Nelson, Kate Raworth and process philosophers, this paper conceptualises the contextual economic paradigm as nesting static abstractions within changing contexts. This brings into question the static metaphysics assumed by mainstream neoclassical economics, and presents an alternative basis for economics arising from processrelational metaphysics. This leads to an economics that: situates the economy as a subsystem of society and ecosystems; replaces Homo economicus with persons-in-communities; and redirects economic policies from profit and GDP growth to purpose and improving wellbeing. This shift in thinking, metaphysics and economics--nesting static in processes--is posited as a critical reorientation of economic decision-making for personal and planetary wellbeing. [ABSTRACT FROM AUTHOR]

The article is a book review of "Introduction to Buddhist Economics: The Relevance of Buddhist Values in Contemporary Economy and Society" by Ernest C H Ng. The book explores the application of Buddhist principles to reconcile economic growth, human well-being, and ecological sustainability. It discusses concepts such as suffering, impermanence, and non-self, and how they can inform a more holistic and compassionate approach to economics. The book also examines the limitations of measuring well-being solely through GDP and proposes alternative measures such as "gross national happiness." Overall, the book offers a pragmatic solution to the ecological crisis and promotes sustainability, equity, and compassion. [Extracted from the article]

This paper critically evaluates the liberal-humanist critique of neoclassical microeconomics and shareholder-driven corporate governance to articulate a more realistic cooperativist– humanist organisational philosophy of practice. Through an engagement with pluralist heterodox economics, it attempts to reconcile with contemporary concerns and philosophical developments around social ecology and care ethics. Our specific contribution is to develop a microfoundational complement to the macro-relational analysis of leading radical philosophical and political-economic thinkers on the Latin American left. In particular, the worker-inclusive multistakeholder cooperative (MSC) form is arrived at as the ideal firm-level organisation through which to promote diverse human (and non-human) dignity, understood through the lens of an affective-relational ethics of care. [ABSTRACT FROM AUTHOR]

In this paper, we develop the idea of the Sraffian Supermultiplier, presenting it as an alternative to traditional neoclassical thought about economic growth and economic policy. Thus, a brief introduction is made about the importance of economic growth for classical economists, followed by the development of Harrod's model and the different solutions that have raised for sorting the problem of instability. Finally, we present the supermultiplier model of Serrano together with international empirical evidence that supports it and some proposals of economic policy are made. [ABSTRACT FROM AUTHOR]

There is increasing consensus that modern capitalist economies suffer from excessive rent extraction in both financial and real economy sectors. However, scholars have yet to develop a coherent analytical framework for identifying the common characteristics of modern economic rents. In particular, there has been little attention paid to distinguishing 'good' rents—key to innovation and growth—from 'bad' forms which contribute to economic stagnation and inequalities of wealth and income. This paper takes some first steps in this direction. We first review the existing rent theory most pertinent to this distinction, including classical political economy, the early twentieth century institutionalists, neoclassical perspectives and Keynes's analysis of financial rentiers. Secondly, we map and conceptualise some key stylised features of modern rents, drawing on descriptive empirical evidence. We then identify the key questions that these developments raise for rent theory, elaborating a new research and policy agenda. [ABSTRACT FROM AUTHOR]

Copyright of People & Nature is the property of Wiley-Blackwell and its content may not be copied or emailed to multiple sites or posted to a listserv without the copyright holder's express written permission. However, users may print, download, or email articles for individual use. This abstract may be abridged. No warranty is given about the accuracy of the copy. Users should refer to the original published version of the material for the full abstract. (Copyright applies to all Abstracts.)

We propose a relational theoretical model of economic organization that offers new insight into the organizing dynamics of economic systems. Neoclassical and complexity economics are, in their Western cultural origins, based on an assumption of the primacy of the discrete individual. Collectivist economic traditions are based on the principle of collective interest rather than self-interest. We attempt a rapprochement of individualist (especially free market) and collectivist (especially centrally planned) economic cultures and traditions by modelling economic organization as arising from individual and collective dynamics and the relationships between them. Structure, process, function, and content are four fundamental inter-related properties of our model of economic organization. We posit the existence of micro, meso, macro scales of economic organization in all of structure, process, function, and contents. To operationalize our relational model, the conventional bottom-up process of self-organization is reconceived to involve relationships within micro-, meso-, and macro-economic organization. In turn, the new concept of socio-cultural organization is construed to involve relationships between and among economic organization, across micro, meso, and macro scales. Our model of relations provides a structure for complex-realist exploration, making cross-scale inter-relationships explicit and by providing a structured language for description of these relationships. [ABSTRACT FROM AUTHOR]

The household as the primary decision-making unit is founded on classical and neoclassical economics. However, household behaviour changes have been noticeable in the last decade, moving towards more green and sustainable patterns, which have been pronounced in EU countries striving for a more significant share of renewable energy sources (RES) in energy consumption. These behaviours can be attributed to sustainable economics and are an essential part of energy transformation, as they are focused on pro-ecological attitudes, considering both financial activities and those related to caring for the environment and future generations. This article aims to segment energy consumers and to determine what attitudes prevailed in the selected segments and to what extent consumers were pro-ecologically oriented when making decisions regarding RES management before the pandemic and the energy crisis outbreak in Europe. We propose a three-segment model for archetyping household energy consumers in Poland by considering the following groups of factors: environmental and energy goods protection (F1), the mirror effect (F2), and energy and devices profitability (F3). The segments are distinguished based on factor analysis and the fuzzy c-means method. The number of segments is determined based on the cluster validity measure. The presented results prove that the F1 factor plays the leading role in each segment. The percentage of positive responses for each segment, including a migrating group of households, oscillates over 80%. It gives strong hope for retaining sustainable attitudes regardless of the pandemic and energy crisis that occurred in 2022 in the EU. [ABSTRACT FROM AUTHOR]

Grieve Chelwa, Darrick Hamilton, and Avi Green explain how existing accounts of capitalism systematically neglect racial identity group stratification. Their approach points to an important comparative dimension and two significant research agendas that could supplement their arguments. First would be to inquire into the role that equal respect plays in pushing back against stratification. Second would be to investigate how other aspects of social norms may have consequences too, perhaps drawing insights from a new body of research on racial stratification that draws upon Marxian and neoclassical economics. [ABSTRACT FROM AUTHOR]

The aim of the article is to critically analyze Environmentally-Adjusted Multifactor Productivity (EAMP), by considering the Classical-Post-keynesian environmental framework Ecological Macroeconomics, integrated with the Evolutionary Environmental Economics. The paper introduces EAMP as rooted in in neoclassical economics and derived from Cobb-Douglas function with natural resources built by Solow (1974). I present theoretical critiques of EAMP's neoclassical assumptions by developing perspectives from heterodox Ecological Macroconomics literature. Finally, I discuss the shortcomings of EAMP's conceptual framework, making specific reference to the policy debate on Porter Hypothesis. The article puts in evidence how the assumptions of constant returns to scale, perfect competition and perfect input substitutability seriously alter the meaning and promise of sustainability policy. The analysis indicates that EAMP is a poor instrument to study complex issues regarding the promotion and effectiveness of green innovations and should therefore be abandoned to face the great challenges regarding the process of ecological transformation. [ABSTRACT FROM AUTHOR]

Copyright of Revista de Ciencias Sociales (13159518) is the property of Revista de Ciencias Sociales de la Universidad del Zulia Venezuela and its content may not be copied or emailed to multiple sites or posted to a listserv without the copyright holder's express written permission. However, users may print, download, or email articles for individual use. This abstract may be abridged. No warranty is given about the accuracy of the copy. Users should refer to the original published version of the material for the full abstract. (Copyright applies to all Abstracts.)

The reliance of current economic systems on economic growth is increasingly being questioned by academics and environmental organizations in the context of the climate emergency and rising social inequalities and conflicts. While political backing for post-growth initiatives has been limited to date, advocacy work by the Wellbeing Economy Alliance (WEAll) aims to shift narratives around the purpose of the economy away from a focus on economic growth. WEAll also facilitated the formation of the Wellbeing Economy Governments (WEGos). Early research in the field indicates that while WEGos have made some steps toward adopting wellbeing economy narratives, limitations to full adoption remain. What these barriers consist of remains poorly understood by researchers. With the aim to contribute to research on understanding (barriers to) social transformation, this article compares the wellbeing economy narratives that WEAll and WEGos have adopted and then examines reasons for differences between them. We find that disparities in narratives exist: while WEAll promotes the deprioritization of economic growth as a policy objective and criticizes capitalism, WEGos remains more narrowly focused on complementing GDP as a measure of performance with other indicators. The dominance of neoclassical economics training within policymaking institutions, siloed and short-termist approaches to policymaking, and the role of vested interests emerged as the main barriers to the adoption of more radical wellbeing economy narratives among WEGos. [ABSTRACT FROM AUTHOR]

Copyright of Iberian Journal of the History of Economic Thought is the property of Universidad Complutense de Madrid and its content may not be copied or emailed to multiple sites or posted to a listserv without the copyright holder's express written permission. However, users may print, download, or email articles for individual use. This abstract may be abridged. No warranty is given about the accuracy of the copy. Users should refer to the original published version of the material for the full abstract. (Copyright applies to all Abstracts.)

Wereview impacts of climate change, energy scarcity, and economic frameworks on sustainability of natural and human systems in coastal zones, areas of high biodiversity, productivity, population density, and economic activity. More than 50% of the global population lives within 200 km of a coast, mostly in tropical developing countries. These systems developed during stable Holocene conditions. Changes in global forcings are threatening sustainability of coastal ecosystems and populations. During the Holocene, the earth warmed and became wetter and more productive. Climate changes are impacting coastal systems via sea level rise, stronger tropical cyclones, changes in basin inputs, and extreme weather events. These impacts are passing tipping points as the fossil fuel-powered industrial-technological-agricultural revolution has overwhelmed the source-sink functions of the biosphere and degraded natural systems. The current status of industrialized society is primarily the result of fossil fuel (FF) use. FFs provided more than 80%of global primary energy and are projected to decline to 50% by mid-century. This has profound implications for societal energy requirements, including the transition to a renewable economy. The development of the industrial economy allowed coastal social systems to become spatially separated from their dominant energy and food sources. This will becomemore difficult tomaintain with the fading of cheap energy. It seems inevitable that past growth in energy use, resource consumption, and economic growth cannot be sustained, and coastal areas are in the forefront of these challenges. Rapid planning and cooperation are necessary tominimize impacts of the changes associated with the coming transition. There is an urgent need for a new economic framework to guide society through the transition as mainstream neoclassical economics is not based on natural sciences and does not adequately consider either the importance of energy or the work of nature. [ABSTRACT FROM AUTHOR]

This study examines causal relationship between foreign direct investment (FDI) inflows and economic growth in Tanzania during 1990–2020. As financial development and trade were not incorporated in extant studies, we included them as intermediate variables because of their intermediation role in this study. FDI inflow is considered an important economic growth catalyst in developing economies. Neoclassical growth theories claim that it enhances economic growth by augmenting capital stock and technology. According to the neoclassical theories, FDI does not enhance the long-run growth rate but instead is related to the level of output. However, empirical evidence is rather mixed, with some supporting the neoclassical theoretical views on economic growth, while others opposing them. We employ the autoregressive distributed lag model and Granger causality tests to analyze the relationship. The results indicate that there exists a long-run relationship among the variables under considerations in Tanzania. Furthermore, the finding reveals positive and statistically significant unidirectional causality running from FDI inflow to economic growth in Tanzania in the long and short run. Hence, we conclude that Tanzania should emphasize FDI-led growth policies to enhance economic growth to realize the desired economic objectives. [ABSTRACT FROM AUTHOR]

It is a truism of neoclassical economics that a sufficiently high savings rate will be bad if it is dynamically inefficient. Here we consider a Solow model in which households follow a savings rate dictated by a social planner. Ideally, the social planner would instruct households to save at the Golden Rule savings rate that maximizes consumption per capita, but this advice needs to be adjusted when the social planner has imperfect control over how much households actually save. Analogous to what happens with precautionary saving at the household level, in this case, the social planner will maximize social welfare by targeting a savings rate higher than the Golden Rule. Precautionary social planning then yields a dynamically inefficient allocation, albeit with greater stability of consumption, which is often a stated priority of social planners. [ABSTRACT FROM AUTHOR]

But before getting to these criticisms, it is necessary to understand Tang's main target: the New Institutional Economics (NIE). By putting more focus on individual self-interest and bottom-up development than their OIE predecessors, it has been argued that NIE economists implicitly make the case for a government that is limited to the protection of property and contract enforcement. In I The Institutional Foundation of Economic Development i , Fudan University Professor Shiping Tang presents a detailed description of the way institutions impact economic development. [Extracted from the article]

The article discusses the impact of educational reforms in New Zealand in the 1980s and 1990s on teachers' autonomy and professionalism. The reforms, influenced by neo-liberal ideology, limited teacher representation and removed their ability to discuss curriculum and pedagogy. The article argues that these changes were driven by an ideological view of economics and a distrust of teachers' motives. The establishment of the New Zealand Journal of Teachers' Work is seen as a political act of resistance against the technisisation of teaching. [Extracted from the article]

Intellectual Property (IP) and innovation law scholarship is generally concerned with the question of how to promote socially beneficial innovation. Until recently, the analysis brought to bear on that question in the literature has been dominated by an individual, rational-actor-centered model grounded in the neoclassical economics tradition. Under this model, individual innovators are assumed to respond to innovation incentives in rational ways, unswayed by their social environments or their own psychology. Of course, as innovation scholars are beginning to recognize, the road to innovation is much more winding and complex than the straight path from incentive to innovation that the rational actor model implies. Innovators are people, and people cannot be divorced from their own psychology or social influences. If scholars truly want to understand how innovation happens and how best to encourage it, they must also understand how innovators' social context and psychology influence both their decisions to innovate or copy and their choices regarding which innovative projects to pursue. A rich literature in both the sociological and psychological sciences has remained largely untapped in legal innovation scholarship. In this Article, we discuss how building bridges between these literatures and the legal innovation literature can help legal scholars better understand many of the social forces that influence potential innovators and the psychological factors that explain why these social norms emerge and persist. Among other things, this type of work adds complexity and richness to traditional legal economic accounts of innovation and helps prevent legal innovation scholars from unnecessarily "re-inventing the wheel" by bringing them into conversation with preexisting and well-developed accounts of behaviors relevant to innovation. It also generates testable hypotheses, guiding how legal innovation scholars pose questions and paving the way for new avenues of original research. We conclude this Article by exploring some of the questions that might be particularly promising candidates for original research going forward. [ABSTRACT FROM AUTHOR]

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Precise multi-scenario projections of future economic outputs based on localised interpretations of global scenarios and major growth drivers are important for understanding long-term economic changes. However, few studies have focussed on localised interpretations, and many assume regional uniformity or use key parameters that are recursive or extrapolated by mathematical methods. This study provides a more intuitive and robust economic framework for projecting regional economic growth based on a neoclassical economic model and shared socioeconomic pathways (SSPs) scenarios. A non-uniform version of SSP2 (the middle-of-the-road scenario) was developed, and more detailed population projections for China were adopted using municipal-level data for 340 districts and parameter settings based on China's recent development. The results show that China's GDP will vary substantially across SSPs by 2050. Per capita GDP ranges from 19,300 USD under SSP3 (fragmentation) to 41,100 USD under SSP5 (conventional development). Per capita GDP under SSP1 (sustainability) is slightly higher than under SSP2, but lower on average than under SSP5. However, SSP1 is a better choice overall because environmental quality and equity are higher. Per capita GDP growth will generally be higher in relatively low-income regions by 2050, and the upper-middle-income provinces will become China's new engine for economic growth. [ABSTRACT FROM AUTHOR]

The tragedy of the commons refers to the overuse of resources which are rival in consumption but lack excludability and it also refers to rent dissipation. While the tragedy of the anticommons is a tragedy closely connected with underuse of resources that are rival in consumption and with too strong excludability. The prior studies proved that the tragedy of the commons and the tragedy of the anticommons are symmetric from the perspective of pure mathematics, especially the game theory, which was later refuted by behavioral economics experiments. According to them, the tragedy of the anticommons is severer than the tragedy of the commons. The asymmetry of the tragedy of the commons and the tragedy of the anticommons is a paradox by these different research methods. This paradox shows that there are imperfections in the completely rational economic man hypothesis set up by neoclassical economics. As a fundamental theory, the tragedy of the commons is quite influential in many disciplines, such as microeconomics, public sector economics, ecological economics, environmental economics, management, sociology, property law, and political science. And the tragedy of the anticommons theory has also opened its door of both theoretical research and practical implications since its acceptance by Nobel laureate Buchanan, the main founder of public choice school. Only when theoretical issues are thoroughly discussed and made clear enough, can people avoid misunderstanding or misusing the commons theory. Thus, it is necessary to elucidate the paradox between them. Based on Simon’s bounded rationality, Kahneman and Tversky’s prospect theory, value function, Thaler’s mental accounting, endowment effect, and other cognitive psychological tools, this study clearly shows that agents’ decision-making process is not just based on the long-believed marginal benefit and marginal cost analysis advocated by traditional neoclassical economists. Agents’ decision-making is a process in which agents selectively absorb, code the objective marginal revenue and marginal cost, and feed relevant information to their brain. Therefore, what plays a directly decisive role is not the objective marginal revenue and marginal cost per se, but the mentally perceived subjective utility of marginal revenue and marginal cost by the human brain. Followed by this research clue, the paradox between the tragedy of the commons and the tragedy of the anticommons is elucidated from the perspective of cognitive psychology. [ABSTRACT FROM AUTHOR]