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The concluding chapter of Karl Marx's Capital (volume 1) has received remarkably little scholarly commentary. This is especially surprising as Marx addresses there "the modern theory of colonization" developed by Edward Gibbon Wakefield. But rather than systematically pursue the issue of colonialism, Marx investigates Wakefield's theory in order to illuminate the processes of primitive accumulation (or "originary dispossession") that gave birth to capitalism in Europe. This article suggests directions in which Marx ought to have gone in order to analyze the globalization of capitalism outside of Europe by means of colonialism. In so doing, it proposes the need to recenter bondage, slavery, colonialism, and racism as constitutive elements of capitalism as a global system. JEL Classification: B51, N3, P1 [ABSTRACT FROM AUTHOR]

When it comes to the British Industrial Revolution of the eighteenth century, much of the mainstream economics literature has tended to focus on how property rights, limitations on the crown or government, and changes in production techniques caused a big transformation in the nation's economy. Marxian and other heterodox economics views acknowledge these developments but also emphasize the enclosure movement and the development of an exploited proletariat. Both sets of views acknowledge the role of the British government in facilitating the revolution, but in doing a review for this article, there is only a small amount of literature on how government investment and spending and the housing of workers may have helped spur the revolution. This is especially true within heterodox schools of thought, and this article aims to add to the heterodox literature by discussing how government investment and investment in housing assisted with surplus absorption during the Industrial Revolution, which in turn helped the British economy to achieve greater heights. Finally, it can be shown that this investment, in turn, would have helped business investment and spending in absorbing as much of the surplus as possible. Strong and sensible uses of government spending matter as much as free market ideology. [ABSTRACT FROM AUTHOR]

The Austrian school of economics was well within the mainstream of economic thought into the 1930s. By mid-twentieth century the Austrian school had established a distinct identity, partly because of methodological developments in mainstream economics, but moreso because of its policy conclusions. Austrian school was best known for its claim that rational economic calculation was not possible without markets and market prices, challenging the mainstream view that looked favorably on central economic planning. In addition, the Austrian business cycle theory challenged the Keynesian macroeconomics that dominated macroeconomic thought up through the mid-1970s. While there were methological differences between the Austrian school and the mainstream, these policy differences defined the Austrian episode. By the end of the twentieth century, the Austrian school had won the economic calculation debate, Keynesian macroeconomics had been displaced, and the methodological differences between the Austrian school and the mainstream had narrowed. The Austrian episode had passed. In the twenty-first century, the Austrian school's ideas, still relevant, have been combined with complementary ideas from other heterodox traditions, diminishing the distinctive identity the Austrian school had in the second half of the twentieth century. [ABSTRACT FROM AUTHOR]

In recent years, a range of work has been published questioning economists' motives in the policy realm and the consequences of the hegemony of mainstream economic reasoning in political spaces. This review analyzes two recent books about pluralism and economics that argue for the relevance of economics as an academic discipline and guide for policy-makers, despite hurdles to the publication of heterodox work. The authors represented in these books argue for a two-track approach in attaining relevance: some practitioners of heterodox economics should focus on targeting their work for broader audiences, whether in policy or conventional journals, while others should explore newer ideas in heterodox, pluralist, and interdisciplinary journals to expand the boundaries of possibility. [ABSTRACT FROM AUTHOR]

Copyright of Dados - Revista de Ciências Sociais is the property of DADOS 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.)

Behavioural economics works toward more realistic accounts of economic action, which includes efforts to endogenise the 'social'. In its social strand, behavioural economics is specifically concerned with fair outcomes in interactive economic games, which are explained by reference to social preferences, norms and institutions. While these concepts also matter to scholars in political economy and socioeconomics, behavioural economists seek to go further in specifying their behavioural and evolutionary foundations. This article critically evaluates evolutionary research strategies in the social strand of behavioural economics, which aim to uncover the evolutionary origins of fairness in economic experiments. Representatives of this field offer new support for the classical idea of 'doux commerce', or the civilising function of markets, by suggesting that cooperation with strangers in economic exchange fundamentally shaped the course of human evolution. Their explanatory framework is gene-culture coevolution, which covers long timespans of human existence. However, the case for the virtuous effect of markets in human prehistory remains ambiguous: basic concepts, causal mechanisms, and timescales of analysis vary to an extent that it is possible to arrive at very different projections of 'doux commerce' into the past. With regard to the present, these fulfil a similar function in naturalising market moralities. [ABSTRACT FROM AUTHOR]

In this review article, I take three themes from Lynne Chester and Tae-Hee Jo's edited collection Heterodox Economics: Legacy and Prospects. The first is Geoff Hodgson's critique which I summarise thus: heterodox economics lacks consensus, coordination, and organizational coherence because it lacks a definition of heterodoxy. The second and third themes are pluralism and interdisciplinarity. But pluralism has a shortcoming: even a sophisticated structured pluralism would remain within the disciplinary boundary of (heterodox) economics and, therefore, lack valuable insights found in other social science disciplines. Whilst interdisciplinarity appears to offer a solution, it too has a shortcoming: it connects disciplines, whilst leaving the boundaries between them in place. Moreover, the majority of heterodox economists know that economic phenomena are not separate from, but are entangled with, myriad social phenomena, and if so, investigation might require going beyond interdisciplinarity, perhaps to transdisciplinarity. The conclusion draws all these strands together, to consider their implications for the future prospect of heterodox economics. [ABSTRACT FROM AUTHOR]

The paper considers main philosophical and methodological approaches in modern economic science. The author singles out postpositivist, analytical, neopragmatic, historical, dialectical-materialistic, pluralistic, eclectic, synergetic, postmodernist, game and relativistic methodological programmes. Their competition and complementarity are shown. The epistemological crisis in modern economic science is associated with the transition from classical economic theory to post-classical economic theory.

This article discusses the topic of inflation and its recent surge in global economies. It highlights the historical stability of inflation over the past four decades and the lack of inflationary forces during this period. The article also explores different perspectives on the causes of inflation, with mainstream economists viewing it as a demand phenomenon and post-Keynesians attributing it to conflict and cost-push factors. The recent surge in inflation is attributed to factors such as the COVID-19 pandemic, disruptions in global supply chains, the Russia-Ukraine war, and the climate emergency. The symposium presented in the article focuses on the post-Keynesian conflictual view of inflation and offers interpretations and theoretical advancements related to the recent surge in prices. [Extracted from the article]

We propose a model for exploring the feasibility and effectiveness of a green transition from dirty to clean technologies. It relies on an evolutionary framework for the technology selection that accounts for the environmental domain dynamics, in terms of pollution evolution. A regulator charges an environmental tax to the producers, and the agents can choose between the less profitable clean technology and the more profitable dirty one, which, however, is taxed to a greater extent with respect to the clean one. The environmental tax depends endogenously on the level of pollution, which rises because of the producers' emissions. The pollution stock also naturally decays, and can be abated by involving the resources collected from the taxation. We analytically study the resulting two-dimensional model from both statically and dynamically, to understand under what conditions the green transition can take place and results in an improvement for the environmental quality. We show that excessive over-taxation of the dirty technology may be not beneficial, as steady state pollution level can increase above a certain taxation threshold and multiple steady states can emerge. Moreover, dynamics can result in persistent endogenous oscillations that systematically lead to a significant increase in pollution levels. Finally, we discuss the economic rationale for the results also in the light of possible policy suggestions. [ABSTRACT FROM AUTHOR]

This article aims to offer a heterodox perspective on the productivity-pay gap in the United States in light of the ongoing disruptive changes within leading industries driven by the widespread adoption of artificial intelligence (AI). We present robust arguments that the application of AI-type technologies across various industries and domains is likely to not only exacerbate the existing productivity-pay gap but also change the way this gap is generated. We suggest that deploying decision-making AI algorithms in economic processes could empower capital-technology owners at the expense of the traditional managerial technostructure, potentially re-establishing the possession of capital as the main driver of income inequality. In addressing the potential economic and social costs of the current trajectory of AI technologies, some of the major concepts in heterodox economics may prove useful. [ABSTRACT FROM AUTHOR]

The issue of marketing efficiency, or how to better transform inputs into outputs within a marketing system, has always occupied a special place in the macromarketing literature. The concept of marketing efficiency has not been studied in closed and isolated systems that exhibit distinctive behavioral patterns compared to conventional open systems and can explain important and understudied marketing phenomena, including autarky. This study challenges some of the conventional premises of marketing systems by defining autarky as a closed marketing system that 1) operates with the specific purpose of propaganda in a relatively predictable and efficient manner; 2) has minimal, though not entirely absent, interaction with the international environment; and 3) involves participants (actors) who do not engage in voluntary exchanges with one another but rather collectively, as well as individually, adhere consistently to the self-reliance ideology. We demonstrate how a classical thermodynamic model (i.e., the Carnot cycle for maximum energy efficiency) can be metaphorically associated with the behavior of the North Korean autarkic system to better understand the long-term efficiency of its propaganda machine. To the best of our knowledge, this is the first attempt to develop a holistic metaphorical framework for exploring the efficiency of an autarkic system and to establish common criteria for measuring relationships between autarkic properties and autarkic processes. [ABSTRACT FROM AUTHOR]

Space has always been essential within the economy, yet its importance in economics has been downplayed in several ways. This editorial introduces the seven papers comprising this issue of Spatial Economic Analysis (SEA) and shows that while the classics of economics acknowledged the importance of the location of economic activities, for many years the study of space was left to heterodox economics scholars and geographers. This is despite the established tradition of learned societies, such as Regional Science International and the Regional Studies Association, which are placed at the intersection of these fields. Space finally became mainstream in economics again due, on the one hand, to the introduction of the new economic geography some 30 years ago and, on the other, to the fact that several different economic sub-disciplines have come to understand and consider space as essential for the processes they study. This was facilitated by methodological advancements, such as in spatial econometrics. The seven papers in this issue henceforth illustrate some of the situations and approaches which make space relevant to contemporary economic questions. Essential are, in particular, the interactions between different locations and the interactions between individuals and geographical features. [ABSTRACT FROM AUTHOR]

Copyright of Journal for Business, Economics & Ethics / Zeitschrift für Wirtschafts und Unternehmensethik is the property of Nomos Verlagsgesellschaft mbH & Co. KG 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 article titled "Commentary on Kvangraven and Styve, 'The Hierarchies of Global Finance'" by Caroline E. Schuster provides a positive review of the paper written by Ingrid Harold Kvangraven and Maria Dyveke Styve. The paper focuses on the concept of "international financial subordination" and its impact on developing economies. The authors argue for a more robust understanding of finance from a global perspective, emphasizing the importance of power dynamics and social relations. However, the reviewer raises questions about the disciplinary division of labor in knowledge production and suggests the need for a critical political economy perspective. Overall, the article invites readers to engage in cross-disciplinary dialogue and challenges conventional assumptions about global finance. [Extracted from the article]

I identify and resolve an internal tension in Critical Contextual Empiricism (CCE) – the normative account of science developed by Helen Longino. CCE includes two seemingly conflicting principles: on one hand, the cognitive goals of epistemic communities should be open to critical discussion (the o penness of goals to criticism principle, OGC); on the other hand, criticism must be aligned with the cognitive goals of that community to count as "relevant" and thus require a response (the goal-relativity of response-requiring criticism principle, GRC). The co-existence of OGC and GRC enables one to draw both approving and condemning judgments about a situation in which an epistemic community ignores criticism against its goals. This tension results from conflating two contexts of argumentation that require different regulative standards. In the first-level scientific discussion , GRC is a reasonable principle but OGC is not; in the meta-level discussion about science , the reverse holds. In meta-level discussion, the relevance of criticism can be established by appealing to goals of science that are more general than the goals of a specific epistemic community. To illustrate my revision of CCE, I discuss why feminist economists' criticism of the narrowness of the goals pursued in mainstream economics is relevant criticism. [ABSTRACT FROM AUTHOR]

Many archaeologists do not realize that their commonsense assumptions about what constitutes money naturalize orthodox (neoclassical) economic theory. Rather than the orthodox view of money as primarily a medium of exchange, this paper presents the heterodox claim of money as primarily a unit of account imposed by those with political power. This heterodox understanding casts money as the mechanism at the heart of ancient states' political economies. A brief history of heterodox chartalist macroeconomics is followed by eight starting points from which archaeologists can explore the operation of state money using the material remains of past societies. Ancient Mesoamerica provides a case study that developed independently of better-known monetary histories from ancient Egyptian, Mesopotamian, Greek, Indus, and Chinese civilizations. Monetized state economies date back to at least AD 600 in Mesoamerica and possibly as early as 300 BC. Cacao beans, standard lengths of cotton cloth, and shell and greenstone beads functioned as the currencies of taxation that underwrote political economies across ancient Mexico and Central America. I conclude that similar organizing principles, by which elites in hierarchical pluralities have extracted and deployed surplus production, resulted in the independent invention of money as an accounting system among unrelated ancient societies the world over. My primary argument is that money—understood as a politically controlled system of accounting—is largely missing from our analysis of ancient complex societies. [ABSTRACT FROM AUTHOR]

The French Studies Bulletin provides updates on the 65th Annual Conference of the Society for French Studies, held at Stirling University in July 2024, featuring plenary speakers and award winners. It also announces the 66th Annual Conference at the University of Bristol in 2025, along with details on the R. Gapper Book Prize and Malcolm Bowie Prize winners. Additionally, the bulletin highlights the Postgraduate Poster Competition, R. Gapper Postgraduate Essay Prize, Postdoctoral Prize Fellowship, and research support funding opportunities offered by the Society for French Studies. [Extracted from the article]

Paul Davidson, a prominent economist in the Post Keynesian community, passed away on June 20, 2024. He was known for his contributions to the development of Post Keynesian macroeconomic theory and his critique of mainstream economics. Davidson's work provided a foundation for subsequent generations of Post Keynesians, and he encouraged debate and discussion within the field. He also played a role in establishing the Journal of Post Keynesian Economics, which provided a platform for the exchange of ideas among like-minded economists. Davidson's work extended beyond academia, as he addressed policy issues and advised policymakers. He made significant contributions to the field of monetary economics, particularly in relation to the non-neutrality of money and the international monetary system. Despite his passing, Davidson's ideas continue to influence and inspire new generations of economists seeking to promote a better world. [Extracted from the article]

COVID-19 has brought to the forefront of academic debates the consequences of pandemics and their appropriate policy responses. Using the PRISMA methodology, we provide a comprehensive review of the economic and historical analysis of the long-term economic consequences of pandemics. Mainstream economists focus on the impact of pandemics on production factors, finding a rich but contrasting set of mechanisms with overall negative or insignificant effects. Historians focus on the institutional impact, finding positive effects of pandemics when they trigger new socioeconomic arrangements. Evolutionary economists can integrate into the economic debate both historical elements and the complex biological characteristics of pandemics. We argue that the evolutionary approach provides new and fertile theoretical foundations to understand the phenomenon and develop effective policies. [ABSTRACT FROM AUTHOR]

The article is a review of the book "Can heterodox economics make a difference? Conversations with key thinkers" by Phil Armstrong. The book consists of interviews with economists who have important contributions to make about heterodox economics, even if they do not necessarily identify themselves as heterodox. The interviews shed light on the relationship between heterodoxy and methodology, how heterodoxy is seen by mainstream economists, and the possibility of heterodoxy becoming widely accepted in social debates and policymaking. The book also explores the role of mathematics in heterodox economics and discusses the potential social impact of heterodox approaches. [Extracted from the article]

The globalized world is witnessing increasing dominance of the financialization of the economy and society. A rapidly changing association among finance capitalists, individuals, the economy, geography, and society, with financialization at the center of these relationships, has been observed recently. However, existing research on this subject is primarily concentrated on advanced capitalist economies of the Global North. As global finance is penetrating the Global South as well, there is a necessity to understand the features, nuances, and theoretical debates surrounding financialization in the context of countries from the Global South. A comprehensive review of the literature reveals that studies on financialization exhibit unsettled and inconclusive debates in relation to the genesis, characteristics, causes, and consequences of the phenomenon. In the case of India, it is particularly difficult to establish strong evidence on the financialization of the Indian economy since the macro-evidence of financialization is not robust in comparison to evidence from the developed capitalist economies in the Global North. However, some recent micro-studies have cited traces of financialization in microfinance, manufacturing firms, and digital banking in India. This micro-evidence, despite being a sector-specific phenomenon, is crucial to the larger debate on financialization. This article argues that in cases of blurred features of financialization, macro-findings may not be completely reliable or even relevant. A better approach is to collate both macro-and micro-data and contextualize the findings in specific contemporary socioeconomic structures. [ABSTRACT FROM AUTHOR]

The Review of Radical Political Economics is actively seeking book reviews for their publication. They welcome reviews of books that are of interest to their readers, both from a provided list and other books related to radical political economics. The journal publishes three types of reviews: individual book reviews, review essays covering multiple books, and ambitious examinations of bodies of literature. All reviews are peer-reviewed and must be submitted within sixty days of receiving the book. Detailed instructions for submission can be found on the RRPE Manuscript Central website. [Extracted from the article]

This article analyzes the power relations in the field of German economics. By incorporating the capital and field theory of Pierre Bourdieu, the study investigates the distribution of economic, social, and symbolic capital on economists in Germany. In a first step, the three forms of capital have been defined and operationalized on publicly available information. This leads to eight main samples of economists. In a second step, information on these economists have been collected to derive indicators regarding their paradigmatic stance and institutional background. The findings indicate a monopolization of mainstream economics and concentration of resources on the large economic departments. Furthermore, these characteristics relate to an increased importance of Colander's Edge, an almost complete marginalization of heterodox economics and a significant center-periphery disparity. Thus, in the field of economics in Germany, a social structural verticalization and elitism of universities as well as a paradigm monism can be observed. [ABSTRACT FROM AUTHOR]

Copyright of Wirtschafts- und Sozialwissenschaftliches Institut Mitteilungen is the property of Nomos Verlagsgesellschaft mbH & Co. KG 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 Cambridge controversies on capital theory opposed heterodox economists, mainly from the University of Cambridge, UK, to mainstream economists, mostly based at the Massachusetts Institute of Technology, Cambridge, USA. The controversies started in the 1950s and occupied the pages of some of the most influential journals. Their primary outcome was the broad acknowledgement of flaws, which we retrieve, in the concept of aggregate capital. Despite that acknowledgement, aggregate, homogeneous capital remains a staple of contemporary macroeconomics, as if the Cambridge controversies had never existed. To account for this apparent paradox is the aim of this article. We examine the arguments seeking to justify the enduring commitment to the aggregate capital approach and argue that they indicate an implicit commitment to instrumentalism. The indifference to the results of the Cambridge controversies is a consequence of methodological conformism and has shaky foundations. [ABSTRACT FROM AUTHOR]

Classical developmentalism was heterodox economics that showed countries require a moderate intervention of the state in the economy to industrialize and catch up. Growth depends on investments and on a satisfying expected rate of profit, which import tariffs legitimized by the infant industry argument assure. Latin American countries adopted this industrial policy from the 1950s and experienced high growth rates. But the infant argument loses validity with time. In the 1980s, under the pressure of the Global North, Latin American countries adopted the neoliberal reforms, and are quasi-stagnant since then. New developmentalism emerged in the 2000s, made the critique of conventional economics, proposed a new growth strategy focused on a competitive exchange rate, and legitimized the use of import tariffs with the Dutch disease argument. [ABSTRACT FROM AUTHOR]

This article defines social and financial money as distinct institutions that account for different realms of value. I present a fundamental dichotomy among economists' where orthodox theory defines money as a medium of exchange whereas heterodox chartalist economists characterize it as a unit of account. I argue that (pre)historical data provides clear evidence in support of the heterodox position. The unit of account function of money is exemplified by how wampum accounted for social debts and was expanded to also serve financial functions by European colonial governments. The heterodox position is further evidenced with the metal coins that denominated Rome's financial money that transitioned to serve primarily social purposes in early Anglo‐Saxon Britain. Focusing on the accounting function of social and financial monies transcends the Polanyian special‐versus‐general‐purpose framework that often still structures archaeological practice. With this framework of money defined by what gives it value, I then evaluate recent claims that financial money was integral to the political economies of Bronze Age Europe. I conclude that the adoption of the orthodox assumption that money is primarily a medium of exchange inhibits understanding of what money is and how the political economies of ancient societies were organized. [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]

The third edition of "Foundations of Real-World Economics" by John Komlos has made significant improvements that enhance its usefulness for both teachers and students. The new edition is more accessible to undergraduate students, including those majoring in economics, business, and other social sciences. It addresses previous concerns about the book's accessibility, engagement with heterodox economics, discussion of feminist economics, and the inclusion of exercises for active learning. The new edition also includes chapters on the political consequences of the 2008 crisis, hidden racist elements in economics, and the impact of the COVID-19 pandemic on the economy. Overall, the book strikes a balance between critique and construction, making it a valuable resource for economics students and teachers. [Extracted from the article]

The Industrial Revolution led to great changes in the world. New technologies were being developed and introduced at a rapid pace, forever changing the way people lived and worked. One of the areas that underwent significant changes due to the Industrial Revolution is agriculture, which is one of the oldest and most traditional form of use of nature and land by humans. Making changes to the agriculture became possible only under the influence of industrial revolutions. Still, even in the early stages, they were not able to radically and visibly transform this important branch of the economy. One of the most visible effects of industrialization on agriculture is the introduction of new technologies. The interdependence between traditional agriculture and modern industrial sectors of the economy is crucial for the overall economic development of the country. The growth of the agricultural sector depends on the growth of industrial demand for agricultural products. Similarly, the growth of the industrial sector depends on an increase in the purchasing power of the agricultural sector for industrial products and an increase in the supply of raw materials for processing. Many developing countries have realized the importance and role of the agricultural sector's industrialization in the country's economic development which ensures food security, optimizes foreign trade balance and raises the welfare of population. The industrial revolutions transformed the agricultural sector from traditional agriculture to mechanized agricultural production and modern precision farming. The fourth industrial revolution stimulated the development of new technologies and methods that changed the global production system. Industry 4.0 has transformed agricultural operations using cyber-physical systems, the Internet of Things, artificial intelligence and machine learning, big data analytics, and the integration of cloud technology into agricultural machinery. Agriculture 4.0 is a digital model of agricultural production, which is based on a highly efficient production process and is the result of long-term technological development. The paper aims to analyze and describe the innovations of Agriculture 4.0, its origin, and characteristics. The paper discusses the current state of the industrial agriculture (industrial agricultural production model, production process, supply chain) sector's strengths and weaknesses. The paper presents the opportunities and challenges of digital agriculture, emphasizing its importance in solving several pressing issues in industrial agriculture. Innovation and technology are essential to maintaining competitiveness in the agricultural sector. Digitization of the agro-food sector creates a highly productive, predictable, and adaptable system to changes. Which, in turn, leads to an increase in food security. Industrial agriculture significantly increases productivity, but at the same time, monoculture and intensive animal husbandry, which is the main production model of modern industrial agriculture, cause great damage to the environment, public health, and animal welfare. In addition, although agricultural production is mechanized and computerized, the lack of digitization and intelligent systems is a major obstacle that hinders the possibility of improving automation. The agri-food supply chain is not managed wisely at the current stage. To solve the mentioned issues, it is necessary to integrate the innovative technologies of the emerging industry 4.0 in agriculture. At the same time, agricultural technologies are also evolving towards a new paradigm -- "Agriculture 5.0 ", which should better combine science and technology with social equity and sustainability. The development of bio-economy in the concept of Society 5.0 implies that the most promising areas of agricultural development are the optimal use of resources, mass personalization and individualization of the final product, the development of creative product differentiation, and the introduction of autonomous automatic decision-making systems based on robotic complexes. The absence of communication barriers in human-machine interaction, including the use of bioinformatics technologies, will allow us to focus on increasing heuristics for innovative solutions in agriculture. [ABSTRACT FROM AUTHOR]

Purpose: The primary goal of this research is to compare the results of the LCIA phase based on the 2008 and 2016 versions of the ReCiPe method at the midpoint level and to identify interpretation problems related to the measurement of terrestrial ecotoxicity. The aspiration, however, is to support the scientifically and technically sound development of LCIA methods that provide reliable and reproducible results. Design/methodology/approach: Life cycle assessment (LCA) was applied to compare the environmental performance of fossil-based PET plastic and its two increasingly used alternatives, i.e. recycled PET (rPET) and bio-based polylactic acid (PLA). Data for modelling was retrieved from the ecoinvent database (3.6), SimaPro (release 9.1). The results of LCIA are presented at the midpoint level with both ReCiPe2008 and ReCiPe2016, with a hierarchist (H) perspective. Findings: Although the research showed some differences in the LCIA results performed with ReCiPe 2008 and ReCiPe2016, there is a general convergence of results, except for the terrestrial ecotoxicity. Thus, rPET has the best environmental profile across the range of impact categories analysed, with few exceptions (human toxicity: cancer and non-cancer, freshwater ecotoxicity and marine ecotoxicity), regardless of the version of the ReCiPe method. The use of ReCiPe2016 leads to significant differences in the results of terrestrial ecotoxicity compared to the use of ReCiPe2008. The contribution analysis at the level of inventory results shows that there is a discrepancy in substances contributing to a given terrestrial ecotoxicity score. Originality/value: The variation in results using ReCiPe2008 and its updated version ReCiPe2016 does not substantially change the conclusions obtained, except for the terrestrial ecotoxicity category. For practitioners, this means that further research and clarification on the modelling of terrestrial ecotoxicity is necessary as to achieve the best available practice. [ABSTRACT FROM AUTHOR]

In India, the politics of hope around slum relocation is created through claims that it would improve living standards of the poor and vulnerable families. Families, however, are not a unitary entity whose members are affected by relocation in the exact same ways. Motivated by the sets of feminist literature that problematize the family as a locus of both cooperation and conflict, and displacements as a gendered process, this article examines how forced relocation alters labor market engagements of (relocated) women, and why. Using an in-depth fieldwork-based case study of slums and a resettlement colony in Delhi, it elucidates if relocation-led sociospatial changes are reproducing gendered vulnerabilities in the city. Through that, my work underscores the need to transform the current policy into one that is gender sensitive and, hence, truly inclusive. JEL Classification : J46, R11, O20, P10 [ABSTRACT FROM AUTHOR]

This paper aims to present and compare contemporary concepts of the common good formulated by economists with reference to the understanding of the common good by the great men of prayer: Augustine of Hippo; Thomas Aquinas; Jacques Maritain; and Popes John XXIII, John Paul II, and Francis. It seeks to determine in what direction the economic theory of the common good can develop, taking into account inspiration drawn from Catholic social teaching (CST). Given the interdisciplinary nature of the common good, a historical and interdisciplinary approach, along with the descriptive method, was adopted. The paper highlights the tendency of economic theory toward one-dimensional and relativistic concepts of the common good and suggests a search for economic ideas of the common good that are simultaneously multidimensional and universalistic. It recognizes the achievements of CST, created by the great men of prayer, in enhancing the understanding of the category of the common good and posits that these teachings can serve as research inspiration for economists. [ABSTRACT FROM AUTHOR]

Copyright of Studies & Work of the Collegium of Management & Finance / Studia i Prace Kolegium Zarzadzania i Finansów is the property of SGH Warsaw School of Economics 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.)

How healthy is heterodox economics? As contributions to an answer, this article provides bibliometric evidence about its current status in universities of varying ranks. It also offers Veblenian insights into publishing by professors. On these bases, it suggests plausible ways for heterodox economics to improve upon its standing, based on its topical and ethical advantages. [ABSTRACT FROM AUTHOR]

This article investigates heterodox economics, drawing on data from interviews we conducted with leading economists, using thematic analysis to identify three core concerns of our respondents: realism, power, and pluralism. Heterodox economists appear to value realism (as a philosophical position) and realisticness (as a property of theories and models). They share a concern for power in the world and in the economics profession and recognize the need to get it, for their own agency. They value pluralism of theory and method and insist that this must include heterodox approaches. Moreover, power and pluralism to some extent serve their pursuit of realisticness and truth. [ABSTRACT FROM AUTHOR]

The paper stresses the failure of 'economics' to predict and prevent repeated economic crises and the most critical topic of the environmental failure and ecological crises, founded also on economic theories and misconceived choices. The implication is a search for alternatives through an ontological-evolutionary-institutional approach and empirical investigations. The search for political 'normative economics', entity economics, accounting and information science copes with social and ecological-environmental problems, and systems science; it is necessary to keep always in mind these interactions for fully understand and correctly interpret the present 'social-economic reality'. The problem concerning environmental decisions goes beyond ontology and belongs to ethics. It must underline the debates on 'evolutionary ethics', not only related with 'environmental and ecological economics', the management of environment and reporting, but also with 'evolutionary ontology'; the new perspective affirms that 'existence', for instance, of a moral behavioral attitude, can reveal itself as a 'norm' thus relating ethics to ontology. General economists, entity economics theorists, as well as accountants and information scientists should be familiar with the potentials and limits of 'ontology', also for the ongoing expansion of computerization of scientific research in most of the scientific domains. The renewed interest, particularly in ontology, arouse specifically from systems scientists in constructing a wide variety of artificial intelligent systems. For its analysis, the study has been structured into two periods of time: until the middle of the 20th century and from that moment on. The paper ends by showing the new developments in information systems and their ontological approach. [ABSTRACT FROM AUTHOR]

The reintroduction of the gray wolf (Canis lupus) has been largely successful in the upper Rocky Mountain region (URM). This led the federal government to hand over the responsibility of managing the species to the individual states of Idaho, Montana, and Wyoming. As each state currently works mainly independently, this study examines if there are any spillover effects to jointly managing wolves in the region. We develop theoretical optimal control and system dynamics bioeconomic models to determine the steady states for the number of wolves, their management, and corresponding net benefits for Idaho, Montana, Wyoming, and the region as a whole from 2000 to 2030. Results from the models show potential benefits when states work together in the form of greater economic efficiencies in management and potentially larger wolf populations. Using a system dynamics model, we find the optimal management path under three different management scenarios with the possibility of improving net benefits by almost $1 million per year when states work together. Our results provide meaningful insights for policymakers which could potentially impact how states approach management of a species that can be both expensive and controversial. [ABSTRACT FROM AUTHOR]

Customs unions enable countries to freely access each other's markets, which is thought to increase intra-regional trade and economic growth. However, accession to a customs union also comes with the condition that all members need to consent to a common external trade policy. Especially if countries feature different economic structures, this may act as a force against the creation of large customs unions. In this paper, we propose a new mathematical approach to model the optimal size and composition of customs unions in the form of a bi-objective combinatorial non-linear problem. We also use a multi-objective evolutionary algorithm (NSGA-II) to search for the best (non-dominated) configurations using data on the trade flows and economic characteristics of 200 countries. Our algorithm identifies 445 different configurations that are strictly preferable, from a global perspective, to the real-world landscape of customs unions. However, many of these non-dominated configurations have the feature that they improve outcomes for the world as a whole, on average, but not for all individual countries. The best configurations tend to favour the creation of a few large customs unions and several smaller ones. [ABSTRACT FROM AUTHOR]

To ensure development sustainability, the linear economic approach is being transformed into a cyclical model. For the pulp and paper industry (PPI), which occupies a significant place in the Russian economy, the shift of circular principles to the field of bioeconomics is becoming more important. This requires the development of basic biotechnological approaches implemented in closed cycles (biorefining). The aim of this study was to develop the biotechnological foundations of the circular economic system of the pulp and paper industry. To achieve the goal, the factors for the implementation of the circular mechanism in the pulp and paper industry were established. The composition of pulp and paper waste was systematized, taking into account the places of their occurrence; the directions and forms of the biorefining of pulp and paper secondary renewable resources were determined; and the principal possibility of obtaining bioethanol, based on the whole complex of sugars from cellulose production wastes, is shown. A wide range of general scientific methods was involved (analysis, synthesis, classification, modeling, etc.). Statistical methods were used to process experimental results in the field of pulp and paper waste bioconversion. The biotechnologies involved included methods of destruction, detoxification, and conversion of useful resources into secondary raw materials and final products. From the standpoint of the environmental approach, there are serious efficiency imbalances in the pulp and paper industry, which justify the implementation of circular mechanisms for organizing economic systems. The overall efficiency is ensured by the use of renewable resources and obtaining environmental effects. Algorithms and parameters of green biotechnological regulations for pulp and paper industry waste recycling provide the possibility of microbiological production of a complex of products: biocomposites, bioplastics, medical products, fertilizers, feed additives, vitamin supplements, and bioenergy resources. A strategy for the efficient biochemical processing of pulp and paper waste into green ethanol was determined. The possibility of increasing the efficiency of alcoholic fermentation using various biocatalysts was experimentally confirmed. The technological features of this method, associated with the need for microaerobic fermentation modes, were determined. [ABSTRACT FROM AUTHOR]

In his article 'The Nature of the Firm' Coase Economica 4:386-405, (1937), Ronald Coase enquired why organisations such as firms exist in a specialised exchange economy. He concluded that the main reason to establish and grow a firm is to avoid some of the transaction costs of using the price mechanism. Earlier, a similar issue was considered, albeit not so explicitly, by Frank Knight in his book, 'Risk, Uncertainty, and Profit' Knight, (1921). According to Knight, the emergence and growth of a modern enterprise is associated with 'the fact of uncertainty'. In this paper, we address the seminal Coasian question regarding the firm and compare his and Knight's views on the nature of the firm in its relation to uncertainty. We argue in favour of conceiving of the firm as an institution of a dynamic economy and explain the relationship between the firm and the market in terms of their complementarity, coevolution, increasing complexity and order. We also examine the notion of transaction costs and outline the concept of Coasian uncertainty. Toward the end, we demonstrate the advantages of the firm from the perspective of its complexity, evolutionary adaptability and its viability in the face of uncertainty. We suggest that both Knight and Coase came close to perceiving the nature of the firm in terms of complex systems, but from fundamentally different angles. Thus, we formulate the criteria to determine the boundaries of the firm with regard to the problem of complexity and the system's viability, considering both Knight's and Coase's uncertainties. [ABSTRACT FROM AUTHOR]