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This paper develops an optimal replacement policy V* for a multi-state manufacturing system. The manufacturing system would be repaired imperfectly once its performance cannot meet the production demand, and would be replaced when the production demand is not met for the V*-th time. Due to imprecise state assignments and unpredictable external working conditions, the performance and transition intensity of the multi-state machine cannot be accurately identified and then inevitably lead to epistemic uncertainty. In addition, the economic dependence and resource dependence that prevailed in the manufacturing system should be considered. In this paper, economic dependence is described as the time and cost saved by simultaneously repairing multiple identical machines, and resource dependence is caused by finite capacity buffers. To take these into account, the fuzzy Markov model and fuzzy stochastic flow manufacturing network (FSFMN) are tailored to evaluate the fuzzy reliability of machines and manufacturing systems, respectively. To obtain the optimal replacement policy V*, we derive the expression of the long run fuzzy profit rate under epistemic uncertainty. The replacement policy is demonstrated on the ferrite phase shifting unit manufacturing system, and the results of the subsequent comparative study and sensitivity analysis show that this policy is more effective. [ABSTRACT FROM AUTHOR]

Comparative political economy scholarship struggles to categorise Italy's model of capitalism between a mixed-market economy and a hybrid, stagnant economic system. To enhance our understanding of the Italian political economy, this article employs the analytical framework of growth regimes to study Italy's regional economic systems. Our analysis indicates that Italy can hardly be defined as a 'national growth regime' due to the presence of two diametrically opposed regional growth regimes: Northern regions conform to a manufacturing-based, export-led growth regime supported by competitiveness-enhancing territorial institutions; southern regions conform to a particular variety of the consumption-led growth regime, that is, an administrative Keynesianism regime, which we theorise to typify a regime where growth and employment are systematically dependent on the state's role of employer of last resort, the state's consumption-enhancing social policies and economic forbearance of labour and corporate tax regulations. The article suggests that studying regional growth regimes is desirable when marked internal diversity in economic outcomes or productive structures exists across regions within (generally larger) countries, and when subnational governments have powers to develop major own institutions/policies in support of regional growth regimes. [ABSTRACT FROM AUTHOR]

Mound Key (8LL2), a 51 ha anthropogenic island in Estero Bay, Florida, is comprised of a complex arrangement of midden-mounds of various sizes, canals, watercourts, causeways, and other features. Occupied from approximately a.d. 450 through European contact, Mound Key served as the primary center and political capital of an extensive Calusa socioeconomic network whose economy was rooted in fishing, gathering, and hunting. Drawing on zooarchaeological analyses of ichthyological refuse dating to between a.d. 1000 and 1350, I argue that the Calusa actively managed and invested in a core fishery that ultimately contributed to a complex, robust socio-ecological systems (SES). I examine the nature, role, and signatures of these fisheries, as their management underwrote the success of Calusa social, political, and economic systems. [ABSTRACT FROM AUTHOR]

In the pursuit of achieving the strategic objectives of "dual carbon," the green economy has emerged as an inevitable trend in China's national economic development. In an effort to effectively promote the establishment of a sustainable civilization and establish a modern green economic system, the implementation of a green financial system is regarded as a significant measure. GC (GC represents Green credit. The following statements are redundant)as a derivative form of green finance, serves as the primary channel for financing the green economy, and It is also the core force driving HQD(HQD represents high-quality development of green economy). Despite its significance, the academic literature does not provide a thorough examination of the specific effects of GC on the HQD. Building upon this foundation, the article elaborates on the internal mechanism of GC for HQD on the basis of mathematical model construction and scientifically evaluates the comprehensive index of HQD in Chinese provinces using entropy method. Introducing the SYS-GMM model, the Quantile regression model, and panel data to concentrate on the path of the role of GC in promoting the HQD, as well as regional differences. The panel threshold model and Bootstrap test method are embedded in the analysis to clarify potential threshold effects and identify corresponding transmission mechanisms. The research provides evidence that: (1) GC has a significant "pulling effect" on the HQD, and this conclusion remains valid even when considering endogeneity issues; (2) Quantile regression analysis reveals that the "pull effect" of GC is proportional to the index of HQD at the provincial level; (3) Analysis of the transmission mechanism reveals that the relationship between GC and the HQD is influenced by green innovation, which serves as a mediating factor; (4)Analysis of the threshold effect reveals that moderate environmental regulation enhances the "pull effect" of GC on the HQD. These research conclusions provide valuable guidance for developing a scientifically reasonable approach to promoting HQD at the provincial level in China. [ABSTRACT FROM AUTHOR]

Background: An increasing number of orphan medicinal products (OMPs) are being included in social health insurance schemes, significantly improving access to medicines for patients with rare diseases. However, high-priced OMPs are still not covered, primarily due to health equity controversies and inadequate data systems required for economic evaluation. The aim of this study was to estimate the burden of drug expenditures and the size of the reimbursement budget required for high-priced OMPs from the perspectives of society and healthcare payers. Methods: The study performed a budget impact analysis using data from multiple sources to estimate the reimbursement budget for high-priced OMPs in Chengdu, a densely populated metropolis in China. The budget analysis consisted of three main elements: the number of patients, the price of drugs, and the simulated policy scenario. By adjusting the combinations of these elements, the budget fluctuations for payers were estimated. Furthermore, the study predicted the budget trend for the next three years to validate its sustainability. Results: The analysis indicated that 98 rare disease patients in Chengdu required high-priced OMPs in 2019. This suggested a projected budget of CNY 179 million for these patients without reimbursement policies, from a societal perspective. Under six assumed policy scenarios, this budget ranged from CNY 32 million to CNY 156 million. Over the next three years, the annual budget was estimated to range from CNY 200 million to CNY 1.303 billion. Conclusion: Integration of multi-source data helps to obtain more scientifically reliable results on budget impacts. The study found that the budgetary impacts of high-priced OMPs on society and payers are relatively limited. Health policymakers can choose appropriate reimbursement strategies based on financial affordability among a diverse mix of elements. The results of related studies provided insights for optimizing the allocation of health resources and improving patient access to medications. [ABSTRACT FROM AUTHOR]

Understanding labor market dynamics remains a pivotal aspect within contemporary economic discourse, as necessitates the pursuit of effective employment models to ensure steady progress in the conditions of changes in the economic structure. The aim of the research is to examine the dynamics of the labor market in developing countries, with particular emphasis on China and Kazakhstan, taking into account economic, social, and technological trends. The methodology includes the analytic and comparison of trends in the labor market in developing countries, such as China and Kazakhstan over the past 20 years, and also monitoring the socio-economic nature of the labor process. The study identified changes in the labor market and provided empirical evidence for new forms of employment, utilizing comparative analysis and data visualization of the sectoral structure of the economy and global labor market trends up to 2027. The obtained results provide three main conclusions: a decrease in demand for low-skilled workers and an increase in demand for highly qualified individuals; the emergence of jobs with low levels of social protection; new forms of employment-oriented towards workers outside the social security system, domestic workers, and self-employed individuals. These types of employment can fill jobs in platform and piecework economies, cooperativism, and the sharing economy, which allows employers in developing markets to optimize employment. The findings of the study can contribute to understanding the functioning of the labor market in developing countries including the development of small and medium-sized businesses, startups, and innovative projects, and may be applicable in the development of economic and social policies for sustainable economic growth and social stability. [ABSTRACT FROM AUTHOR]

The Green New Deal (GND) has emerged as a crucial progressive agenda for sustainability transition, but there have been few attempts to develop it into a concrete programme for government. This paper considers one such attempt – the GND proposals put forth by the British Labour Party under Jeremy Corbyn – and how it tackled three key challenges faced by the broader GND agenda: its reliance on the state, its relationship with capital, and its Western centrism. The paper argues that these challenges gave rise to tensions within Labour’s proposals: treating the state both as an instrument and as an object of change, ambivalence towards capitalism as an economic system and struggling to reconcile the competing forces of nationalism and internationalism. By examining these challenges and Labour's efforts to overcome them, this study provides valuable insights into the messy politics of enacting Green New Deal visions. [ABSTRACT FROM AUTHOR]

The analysis of chipped-stone and bone projectile points recovered from the Late Holocene sites of Sierras of Córdoba (Argentina) are presented in this article. The aim is to establish the chronology of the initial spread of bow-and-arrow technology in the region and the social context in which it occurred. Projectile points were related to radiocarbon dates, classified in typological sub-groups and functionally assigned to arrow or atlatl dart points based on gross weight, shoulder width, and neck width. The earliest evidence of the use of the bow and arrow was documented ca. 1300 cal years BP in archaic forager's context. However, their use was widespread ca. 1200 cal years BP, when a mobile mixed foraging and cultivation economy was adopted. Within this frame, the use of bow-delivered projectiles facilitated a broad-spectrum foraging base and minimized the cost of failure in the capture of the prey they depended on. It also led to adjusting the hunting or defense strategy to the size of the groups, encouraging the development of more independent family-based economic and political systems, and facilitating that minimal social units colonized new farming lands or hunting territories. [ABSTRACT FROM AUTHOR]

Sustainable management in high-tech enterprises is a key aspect of successfully operating modern companies, especially under conditions of risk and uncertainty. This study reviews the field of sustainable management and interval analysis and identifies the main trends and challenges facing high-tech enterprises in the modern world. This study emphasizes the importance of applying interval analysis in making strategic decisions and developing sustainable business models that can adapt to variable environments. This paper presents empirical data, illustrating the practical application of interval analysis tools in the management in high-tech enterprises. It analyzes the effectiveness and potential of this approach to increase the levels of sustainability and competitiveness of organizations in constantly changing business environments. In general, this article is a valuable contribution to the development of sustainable management theory and practice for high-tech enterprises, enriching the existing knowledge in this area and offering new perspectives for research and practical application. Our research has been validated and is presented in the results section. The purpose of this study is to present current developments in methodologies and tools for risk measurement within the probabilistic paradigm of uncertainty, which are supposed to be used in relation to the economic evaluation of real investment projects. The methodological directions or approaches to risk measurement formed in this context are (1) based on quantile measures, within which the quantitative aspect of risk is modeled using quantile quantiles of the distribution of a random variable describing the possible (predicted) results of economic activity; (2) the Monte Carlo method, which is a tool for evaluating the indicators of economic efficiency and risk in justifying real investments, taking into account different distribution laws and mutual relations for the financial and economic parameters of the investment project, as well as its computational and instrumental elaboration. [ABSTRACT FROM AUTHOR]

We live in times of increasing polarization in which the margins of the political spectrum begin to dominate our social imagination again. While the neoliberal iteration of the capitalist project suggests extreme individualism as the normative default position, the devastating impact of the globalized economy on many has reignited the pursuit of socialist alternatives. In this constellation, Simmel's social theory of modernity can be a useful resource to undercut the return of the old battle between opposite economic systems. This paper argues that two kinds of pluralism can be derived from his conceptualization of the social effects of the money economy. In contrast to one-size-fits-all concepts of freedom, Simmel embraces a social pluralism which acknowledges a plurality of cultural spheres as relevant for the self-actualization of modern individuals, attributing different combinations of independence and embeddedness to them. Moreover, he rejects the social extremes of socialism and individualism since they fail to properly integrate individual freedom into the social whole without undermining it. Instead, Simmel gives us the vision of a pluralist economy in which democratic worker's cooperatives are combined with an overall liberal market to satisfy both the longing for community and the endeavour for individual distinction. [ABSTRACT FROM AUTHOR]

The authors of the present article pose and consider in detail the highly relevant issue of whether capitalism has a future or whether it will be replaced by some new system. And if it does have a future, then what future will it be? These questions are nothing new, but in the recent few years, just like a hundred years ago, they have acquired exceptional importance, since not only the Left but also the representatives of the largest financial capital started speaking about the end of capitalism. The present article considers the following aspects: what is capitalism as an economic sector and as an economic system? How did capitalism evolve? What are its potentialities? The authors also make some forecasts for the next 50–100 years. Various scenarios for the future of capitalism are considered: from maintaining its leading role to its reduction to a sector. It is assumed that in the coming decades, the development of capitalism may proceed in different ways in developed and developing countries, which may result in a complex continuum of types, transitions, combinations, and forms of capitalism. In some countries, the development of capitalism has reached a level when it has already exhausted itself and needs transformations; meanwhile, there are countries where full-fledged market relations have not yet emerged. The authors analyze two main types of capitalism. The developed countries are likely to experience a shift toward strengthening of distributive institutions. In their turn, the developing countries that continue the processes of economic and socio-political modernization are likely to proceed toward strengthening of capitalist market institutions, though with some important restrictions preventing exploitation and environmental degradation. The authors believe that capitalism will be inevitably transformed in one way or another, but such transformations can vary greatly. [ABSTRACT FROM AUTHOR]

Thermodynamics is based on its Four Laws structure. Based on Thermodynamics and its Four Laws structure, this work presents and explores its economic counterpart, proposing an economic Four Laws structure to look at Economics through the eyes of Thermodynamics. The Economic Zeroth Law is based on the merchandise economic thermal equilibrium, thus defining the economic temperature. The Economic First Law is based on balance equations for the units of merchandise and monetary species. The economic Second Law is based on the observation that the traded merchandise units are transferred in the increasing unit price direction (in the decreasing economic temperature direction). This allows economic entropy to be defined through a differential equation, as well as the definition of economic irreversibility and economic entropy generation. The economic Third Law states that the merchandise economic entropy of an economic system at the null economic temperature (at an infinite merchandise unit price) is null. Conjugation of the economic Second and Third Laws sets how to evaluate the absolute value of the economic entropy of an economic system. The presented developments setting the proposed economic Four Laws structure introduce and explore a large set of concepts, variables, and relations that are of major relevance for looking at Economics through the eyes of Thermodynamics. [ABSTRACT FROM AUTHOR]

Accurately detecting anomalies in microservice systems is crucial to avoid system failures and economic losses for users. Existing approaches detect anomalies by extracting sequential information from single-modal data, such as metrics or logs. However, they do not clearly analyze the temporal and spatial dependencies of each data type and ignore the correlation between different types of data, which can lead to a significant number of false positives. In this paper, we propose a novel Microservice system Anomaly Detection method via Multi-modal data and Multi-feature extraction (MADMM), which performs a joint analysis of metrics and logs from a spatial and temporal perspective. Specifically, we firstly construct separate feature graphs for metrics and logs in each time window. A graph convolution network is then utilized to capture the spatial correlation among different metrics, while a graph attention network is employed to analyze the contextual relationships among different log events. Then, we design a Cross-Modal Attention-based Gate Recurrent Unit (CMA-GRU) to capture the intricate temporal dependencies of each modal data and facilitate fulfilling cross-modal interactions. Finally, we introduce multi-grained contrastive learning methods to learn robust cross-modal features from both inter- and intra-modality aspects. Experimental results on real-world datasets demonstrate that MADMM outperforms existing baseline methods and exhibits better robustness. [ABSTRACT FROM AUTHOR]

• Addressing Pasinetti's "institutional problem" requires theorising actions. • The paper theorises actions within institutions and changing economic structures. • The paper theorizes collective and particular objectives within economic structures. • How social groups represent structures is crucial to explain structural change. The paper builds on Pasinetti's separation between a dynamic path that provides a normative framework (the "natural economic system") and the need to devise concrete institutions to approximate that path (the "institutional problem"). The paper argues that addressing the "institutional problem" requires theorising the role of actions within economic structures. By doing so, it proposes an approach to institutional analysis that shows how an economy growing with structural change offers opportunities for, and imposes constraints on, the pursuit of collective objectives as well as particular objectives by social groups variously defined. It also makes it possible to address the interplay between collective and particular objectives. A key argument is that how social groups themselves represent structures and their position therein is a non-reducible factor to explain which dynamic path an economy follows out of those which a given structure makes possible. [ABSTRACT FROM AUTHOR]

• A productive restructuring model for the Greek economy is introduced. • The productive structure is optimized by using a particle swarm optimizer. • Policy intervention should focus on technologically advanced industrial sectors • The improvement of the economic structure cuts across all the economic system • Industrial structure adjustment has great potential to economic development policies The term productive restructuring refers to the transformation of an economic system for reaching predefined economic and social goals. The aim of this paper is to develop a methodological framework of productive restructuring, based on input-output analysis, targeting the optimization of the productive structure of an economy. The process of the productive restructuring involves: firstly, the reallocation of production among different economic sectors and, secondly, a process of intermediate input substitution. The proposed optimization model aims at the maximization of the total employment under macroeconomic constraints. A Particle Swarm Optimization algorithm is employed for the solution of the optimization problem. The proposed methodology is applied to the Greek economy. Results appear to show that the productive restructuring should focus on manufacturing sectors, mainly those of high and medium-high technological level. The findings of the research suggest that industrial structure adjustments have great potential for policy development. [ABSTRACT FROM AUTHOR]

This contribution proposes to explore different forms of postcapitalist futures that have been imagined in science fiction and analyze their reflexive potential. The field of studies on diverse economies, those economies often made less visible by the preeminent economic system, should also be concerned with fictional representations oriented towards the future. The article first emphasizes how science fiction can participate in the political imagination, precisely because of its capacities for problematization and exploration. The next step is to exploit a corpus of mainly literary works to show how science fiction can be an original and heuristic vector for the exploration of transformative socioeconomic possibilities. The worlds created in these works allow us to show what a variety of alternative and postcapitalist socioeconomic systems might look like. A typological matrix of postcapitalist futures is then proposed to highlight the hypotheses on which these visions are based and the inspirations they provide. [ABSTRACT FROM AUTHOR]

This study investigates the financial interconnections among Real Estate Investment Trusts (REITs), sukuk (Islamic bonds), and oil in Gulf Cooperation Council (GCC) nations. The study sample comprises S&P GCC Composite Equity Real Estate Investment Trusts (REITs) Shariah, the S&P GCC Bond and Sukuk Index, and the OPEC crude oil basket on a daily basis. The duration of coverage spans from 2014 until the beginning of 2024. The TVP-VAR methodology is utilized to examine the interrelationship among the assets. The results indicate that Real Estate Investment Trusts (REITs) and oil are sources of volatility transmission, whereas sukuk is a recipient of volatility within the network. Examining the net pairwise directional linkages of two assets, namely REITs and oil markets, reveals that they transfer their volatility to the sukuk market. Moreover, a reciprocal relationship exists between REITs and oil regarding volatility spillover. It means that REITs act as transmitters to the oil markets during specific periods, while the influence is reversed at other times. This study implies that portfolio managers and investors can discern the volatility patterns of assets in order to enhance their risk-management techniques. For policymakers, comprehending the interdependence of certain asset classes provides valuable knowledge for formulating regulations that might stabilize the financial system and foster economic growth. From a research and academic perspective, this study enhances understanding of the interconnections between different financial asset classes and pricing dynamics in financial markets. [ABSTRACT FROM AUTHOR]

The purpose of this work is to examine the nature of the historically observed and empirically described by the Pareto law inequality in the distribution of wealth and income in an economic system. This inequality is presumed to be the result of unequal opportunity by its members. An analytical model of the economic system consisting of a large number of actors, all having equal access to its total wealth (or income) has been developed that is formally represented by a scale-free network comprised of nodes (actors) and links (states of wealth or income). The dynamic evolution of the complex network can be mapped in turn, as is known, into a system of quantum particles (links) distributed among various energy levels (nodes) in thermodynamic equilibrium. The distribution of quantum particles (photons) at different energy levels in the physical system is then derived based on statistical thermodynamics with the attainment of maximal entropy for the system to be in a dynamic equilibrium. The resulting Planck-type distribution of the physical system mapped into a scale-free network leads naturally into the Pareto law distribution of the economic system. The conclusions of the scale-free complex network model leading to the analytical derivation of the empirical Pareto law are multifold. First, any complex economic system behaves akin to a scale-free complex network. Second, equal access or opportunity leads to unequal outcomes. Third, the optimal value for the Pareto index is obtained that ensures the optimal, albeit unequal, outcome of wealth and income distribution. Fourth, the optimal value for the Gini coefficient can then be calculated and be compared to the empirical values of that coefficient for wealth and income to ascertain how close an economic system is to its optimal distribution of income and wealth among its members. Fifth, in an economic system with equal opportunity for all its members there should be no difference between the resulting income and wealth distributions. Examination of the wealth and income distributions described by the Gini coefficient of national economies suggests that income and particularly wealth are far off from their optimal value. We conclude that the equality of opportunity should be the fundamental guiding principle of any economic system for the optimal distribution of wealth and income. The practical application of this conclusion is that societies ought to shift focus from policies such as taxation and payment transfers purporting to produce equal outcomes for all, a goal which is unattainable and wasteful, to policies advancing among others education, health care, and affordable housing for all as well as the re-evaluation of rules and institutions such that all members in the economic system have equal opportunity for the optimal utilization of resources and the distribution of wealth and income. Future research efforts should develop the scale-free complex network model of the economy as a complement to the current standard models. [ABSTRACT FROM AUTHOR]

The currency market is one of the main markets of the world's modern financial and economic systems. With respect to the availability of information, this market is the most data-rich and public. These two features allow it to be viewed as volatile. This study aims to assess the dependence of the currency market's volatility on the conditions and factors that formed during the COVID-19 pandemic. The research used statistical and correlation analysis and general scientific methods (notably, the abstraction method). The study examined the effects of pandemic events on currency market volatility, revealing a quantitative measure of approximately 2% of reactions in response to global economic and political events. Correlation analysis revealed an insignificant effect of the dollar index on the change in currency market volatility during the COVID-19 pandemic (r = 0.09). The outcomes indicated the impact of the disease factor on currency trading at the 0.8% level (r2 = 0.0081). The research conclusions suggest that the effects of information on the currency market differed during 2015-2019 and deviated in response to various political and economic events. The study highlights that the COVID-19 pandemic and its aftermath did not significantly influence the currency pairs' volatility. In the future, if crisis trends re-emerge, the findings of this study may influence the behavior of investors and participants in currency markets and global trade. This could affect their investment decisions, currency reserve diversification, insurance strategies, and capital migration. [ABSTRACT FROM AUTHOR]

After the 2013 collapse of Bangladesh's Rana Plaza garment manufacturing building, the Rana Plaza Arrangement (RPA) provided work-injury compensation benefits to injured survivors and the families of those killed, funded by global apparel brands. This article draws upon qualitative interviews with international stakeholders—including global brands, activists, and the International Labour Organization (ILO)—who developed and implemented the RPA, and survivors who claimed compensation payments. We analyse the RPA as an experiment in transnational social protection, which attempted to recentre labour rights and state responsibility after three decades of neoliberal labour governance. Arguing that social protection can be a technocratic "fix" to restore and make tolerable an injurious economic system, we demonstrate the inherent paradox of attempting to integrate precarious labour into decent and dignified social protection. The RPA's many failures suggest that state commitment to regulation and organized labour power are necessary ingredients for successful transnational social protection. [ABSTRACT FROM AUTHOR]

This paper seeks to explore whether bank credit (BC) contains useful information for mitigating economic policy uncertainty (EPU). The results of the bootstrap rolling-window test show that EPU is an effective channel for triggering BC. Additionally, it finds a feedback effect of BC on EPU, indicating that BC is a favorable tool for predicting EPU. Rising policy uncertainty leads banks to adopt aggressive or conservative credit strategies, which further increases policy adjustments. This circular relationship seems to be caught in a chicken or egg dilemma, demonstrating the importance of the government and the banking system in maintaining economic stability. [ABSTRACT FROM AUTHOR]

Purpose: Under the background of low consumer financial knowledge and accumulated credit card liabilities, this study investigates the relationship between financial knowledge and responsible credit card behavior using data from the 2019 China Household Finance Survey (CHFS). From the perspective of consumer economic well-being, this study defines accruing credit card debt to buy houses and cars when loans with lower interest rates are available as irresponsible credit card behavior. Design/methodology/approach: This study uses probit regressions to examine the association between financial knowledge and responsible credit card behavior because the dependent variable is a dummy variable. To alleviate endogeneity problems, this study uses instrument variables and Heckman's two-step estimation. Furthermore, to explore the potential mediators in this process, this study follows the stepwise regression method. Finally, this study introduces interaction terms to examine whether this association differs in different groups. Findings: The results indicate that financial knowledge is conducive to increasing the probability of responsible credit card behavior. Mediating analyses reveal that the roles of financial knowledge occur by increasing the degree of concern for financial and economic information and the propensity to plan. Moderating analyses show that the effects of financial knowledge on responsible credit card behavior are stronger among risk-averse consumers and in regions with favorable digital access. Originality/value: This study measures responsible credit card behavior from the perspective of the consumer's well-being, which enriches practical implications for consumer finance. Furthermore, this study explores the potential mediators influencing the process of financial knowledge that affects responsible credit card behavior and identifies moderators to conduct heterogeneous analyses, which helps comprehensively understand the nexus between financial knowledge and credit card behavior. By achieving these contributions, this study helps to curb the adverse effects of irresponsible credit card behavior on consumers' well-being and the economic system and helps policymakers promote financial knowledge to fully prevent irresponsible credit card behavior. [ABSTRACT FROM AUTHOR]

AbstractStudies of industrial path development, a literature strongly influenced by evolutionary economic geography and systems of innovation theorizing, have an analytical focus on how interplays between actors, networks, and institutions, what we term social contingencies, shape industrial development in geographic areas. Tying into earlier calls in the literature, we argue that the emphasis on social contingencies has led to limited analytical attention to how material contingencies are also influential in shaping how and where industries develop. Based on this, we develop an analytical framework for studying sociomaterial contingencies for industrial path development in geographic contexts. Consequently, and echoing early path development theory, we argue for considering the breadth of dimensions underpinning industrial path development and their interplay, considering both intangible and tangible explanators without reducing either of these categories on behalf of the other. We discuss our approach in an exemplifying discussion of potential industrialization of hydrogen production in Western Norway to illustrate how assessment of sociomaterial contingencies adds analytical utility to the industrial path development literature. [ABSTRACT FROM AUTHOR]

In the context of integrated energy systems, the synergy between generalised energy storage systems and integrated energy systems has significant benefits in dealing with multi-energy coupling and improving the flexibility of energy market transactions, and the characteristics of the multi-principal game in the integrated energy market are becoming more and more obvious, but it is difficult to improve the flexibility of the transactions between "source-load-storage" in a one-way master–slave game structure, and the problem of how to establish an optimisation strategy for the coordination of integrated energy systems and energy storage systems is an urgent issue. How to establish a coordinated optimisation strategy of integrated energy system and energy storage system is an urgent problem. Therefore, this paper proposes a generalised shared energy storage and integrated energy system transaction optimisation method based on a two-stage game model, which improves the flexibility of the system transaction by constructing a two-stage game energy transaction model in which the subject acts as a leader and a gamer. Compared with the current one-way game model that does not consider the game on the energy storage side, the coordinated optimisation method proposed in this paper enables the energy storage side to participate more actively in the scheduling, which improves its revenue by 20.6%, the revenue on the energy-using side by 6.3%, and the overall revenue of the system by 5.4%, and at the same time, the load demand response regulation effect is more obvious, so the energy scheduling strategy proposed in this paper is able to weigh the interests of each subject and increase the overall economic benefits of the system. [ABSTRACT FROM AUTHOR]

Based on economic feasibility, renewable generators can use pumped hydro storage (PHS) to improve their profitability by performing energy arbitrage under real-time pricing (RTP) schemes. In this paper, we present a new method to optimise the size of and manage utility-scale wind–PV systems using PHS with energy arbitrage under RTP. PHS is used to supply load consumption and/or energy arbitrage. Further, both load-supply and power-generating systems are considered, and a genetic algorithm metaheuristic technique is used to perform the optimisation efficiently. Irradiance, wind speed, temperature, hourly electricity price, component characteristics, and financial data are used as data, and the system is simulated in 15 min time steps during the system lifetime for each combination of components and control variables. Uncertainty is considered for the meteorological data and electricity prices. The pump and turbine efficiencies and available head and penstock losses are considered as variables (not fixed values) to obtain accurate simulations. A sample application in Spain is demonstrated by performing a sensitivity analysis of different locations, electricity prices, and costs. PHS is not worth considering with the present cost of components. In load-supply systems in Zaragoza (Spain), we found that PHS would be worth considering if its cost was lower than 850 EUR/kW (considering all PHS components except reservoirs) +20 EUR/m3 for reservoirs (equivalent to 105 EUR/kWh with a 70 m head), whereas in Gran Canaria Island (with a considerably higher irradiation and wind speed), the required PHS cost is considerably lower (~350 EUR/kW + 10 EUR/m3). For power-generating systems, PHS required costs ranging from 400–700 EUR/kW + 15–20 EUR/m3 for obtaining the optimal PV–wind–PHS system with economic results similar to those of the optimal power-generating system without PHS. Thus, the renewable–PHS system with energy arbitrage under RTP could be profitable for many locations globally given the wide range of the PHS cost; however, each case is different and must be evaluated individually. The presented model can be used for optimising the renewable–PHS system in any location with any costs and RTP schemes. [ABSTRACT FROM AUTHOR]

We examined whether women's support for gender-based pay inequality (i.e., system justification) might be explained by hope. In particular, we considered whether such hope is likely prompted by positive temporal comparisons: It is entirely possible (even if previously untested) that the more women believe that their outcomes are getting better relative to what it had been at some point in the past, the greater their optimism about a better gender-based outcome could be, prompting women to support the systems that permitted such advancements. These central propositions were derived from the social identity model of systems attitude (SIMSA) and were corroborated in a correlational study involving 611 female healthcare professionals (Study 1). Study 2 (213 Italian- and 79 Spanish-women) offered a conceptual replication and extension of the evidence from Study 1: It showed that inducing positive temporal contrasts caused women's hope for a better gender-based outcome in the future to increase, consequently allowing them to support the prevailing gender-system. [ABSTRACT FROM AUTHOR]

Industrial convergence refers to the dynamic process in which different industries gradually form new industries through mutual penetration and cross. As an advanced form of industrial synergy, industrial convergence is crucial in building a modern economic system. Using a panel data set covering China's 30 provinces during 2006–2018, this study explores the impact of industrial convergence on regional high-quality development. The findings suggest that: (1) Industrial convergence is conducive to high-quality development, and this conclusion remains robust after a series of tests. (2) For heterogeneity, the positive impact of industrial convergence on high-quality development is greater in regions with optimized energy structure and high investment outward, as does the regions with reasonable financial structure and moderate economic agglomeration. (3) Productivity improvement and industrial upgrading are the mediating paths by which industrial convergence promotes high-quality development, and the former plays a greater role. [ABSTRACT FROM AUTHOR]

The Belt and Road Initiative (BRI) has induced immense material consumption and environmental threats while fostering economic development along participating countries. Quantifying recent trends of the material footprint of BRI economies and identifying potential drivers are vital to inform sustainable resource use. However, an assessment on the determinants of BRI material consumption from an economic system viewpoint is lacking in the literature. To fill this gap, this study proposes a multi‐region structural decomposition analysis model to assess the drivers of material footprints in BRI economies. To scrutinize the effects of transitioning economic structures, the effects of domestic and cross‐border production activities are separated. The latter is further characterized by production technology and sourcing structure. Using global multi‐region input–output tables of 2005–2015, this study reveals that shifting international sourcing patterns boosted BRI material footprint, with rising intermediate goods and services sourced from BRI regions substituting those from North America and the European Union. Capital formation in the construction sector took the primary role in driving BRI material footprint growth, followed by manufacturing sectors, especially since 2013. Disparities in the key drivers of material footprints have been identified among developed, emerging, and least developed economies. The results have relevant policy implications regarding alleviating BRI material pressure, including fostering material‐efficient demand patterns, facilitating environmental technology improvements in local countries, and establishing stringent governance on material usage. [ABSTRACT FROM AUTHOR]

The global value-chain was hugely disrupted by the Covid-19 pandemic which collapsed many micro, small and medium enterprises (MSMEs) globally, especially in Africa where little or no support was received from governments. The circular economy (CE) is recognized as a sustainable option for the linear economic system, as it resolves the crisis of a scarcity of resources in the value-chain and reduces the cost of materials, enabling a sustainable environment. This study aims to assess the awareness, level of adoption and factors driving CE among MSMEs in Nigeria. The results reveal that the level of awareness of CE among the sampled 206 MSMEs is moderately high though with a low level of adoption. The results, using the logistic regression method, indicate that top management commitment, digital technology, regulatory incentives and financial resources are the main drivers of CE adoption. In addition to this, the study recommends improvement in training of employees in CE activities and the fostering of collaboration with other companies and customers within the value-chain. There is a strong need for government policy which enlightens business enterprises on the importance of CE adoption in their value-chain, provides CE financial support for small enterprises as well as ensuring inter-organization cooperation within the value-chain. [ABSTRACT FROM AUTHOR]

Purpose: This paper examines the impact of the COVID-19 pandemic on the government's role. The study aims to contribute to the discourse on government intervention and the provision of public goods in a supranational context characterised by diverse socio-economic landscapes and shared policy objectives. Design/methodology/approach: It investigates three dimensions: the temporal evolution of government interventions, the spatial dimensions of the pandemic's impact, and the structural implications for public policy and sustainability. This analysis is based on a comprehensive review of literature, policy documents, and case studies from EU member states. Findings: Findings highlight the significance of long-term strategic planning, international cooperation, and equitable economic systems in managing crises and fostering a sustainable environment. Originality/value: It comprehensively analyses how integrated policy frameworks can enhance crisis resilience, offering practical recommendations for policymakers and contributing to the broader discourse on sustainable development and public governance. [ABSTRACT FROM AUTHOR]

The level of coordination between cultural, ecological, and economic systems directly affects the sustainable development of the Yellow River Basin (YRB). However, researchers have neglected the importance of cultural elements in the social-ecological system and have paid insufficient attention to the interaction of cultural, ecological, and economic systems in the YRB. Therefore, a framework of coupled cultural-ecological-economic (CEE) systems was constructed based on service-dominant logic, and the spatiotemporal distribution, evolutionary trends, and factors influencing the coupled coordination of different systems in 76 major cities in the YRB were analyzed by using an entropy-weighted TOPSIS model, coupled coordination model, spatial Markov chain, and panel spatial Dubin model. The results were as follows: (1) the cultural, ecological, and economic systems of the YRB showed a growing trend, the economic system grew faster than the cultural system and the ecosystem, and the ecosystems dominated sustainable development in the YRB. (2) From 2011 to 2022, the type of coupled CEE system coordination in the YRB was mainly in a state of slight incongruity, with the different regions showing temporal consistency and synchronized growth, with the upstream area mainly in a state of moderate incongruity, the midstream area mainly in a state of slight incongruity, and the downstream area concentrating in general coordination. (3) The spatial coordination level of CEE system coupling in the YRB showed the characteristic of "gradually converging to coordination from upstream to downstream" and exhibited upstream low-value agglomeration and downstream high-value agglomeration. Meanwhile, there was a clear trend of spatial spillover in terms of balanced regional development, and 67.11% of the cities in the region and neighboring areas maintained stable development. (4) Tourism development (TD), foreign trade (FT), the human environment (HE), government control (GC), and other factors significantly positively impacted the sustainable development in the YRB. In the future, the focus should be on improving the transregional infrastructure and transportation service systems in the YRB, to enhance cooperation and exchanges between different regions. This research provides new insights and methods for the coordinated development of cultural, ecological, and economic systems at a watershed scale. [ABSTRACT FROM AUTHOR]

The Institutional Role Model (IRM) is a versatile tool used as an economic system architecture in various projects, such as the Gaia-X 4 Future Mobility lighthouse project family. This paper examines the effects of digitalization and geo-economic changes on cooperative instruments and demonstrates how the IRM can be optimized to meet these new requirements. The proposed optimizations include implementing the roles of Chief Innovation Officer, Sustainability Manager, AI Manager, and Remote Work Manager. Furthermore, a new prioritization according to Very Important Roles, Essential Roles, and Supporting Roles was integrated into the model. Furthermore, artificial intelligence was anchored in the dimensions as a complementary perspective and role-taking institution. The result is an updated matrix, offering an up-to-date and adaptable tool for managing complex environments. Based on these changes, the institutional role model can continue to create a cooperative environment in complex digital projects in the future and thus realize the added value of cooperation as a steering instrument. [ABSTRACT FROM AUTHOR]

This research explores the interplay between innovation, economic systems, governance structures, and law, and how they interact with one another in the context of China and Ethiopia's investments in the Digital Silk Road. The way cutting-edge methods related to governance and economic systems might help lower the risks involved in major infrastructure projects, like the Digital Silk Road, particularly in light of law and 5G developments, is investigated. China–Africa connections are to be strengthened, sustainable development is to be encouraged, and healthy economic progress is the goal of the partnership between Ethiopia and the Hainan Free Trade Port. The impact of these transnational investments on fair growth and sustainable development is assessed, while exploring the evolving agendas and procedures governing investments. This research draws attention to how the law and legal cooperation between Ethiopia and China may promote mutually advantageous outcomes, promote transparency and governance mechanisms, and lessen the likelihood of disputes. This research on the factors influencing the future of the Digital Silk Road and its consequences for long-term, sustainable economic growth, and business in the area, aims to provide valuable insights for policymakers, development professionals, and academics, and for the copromotion of China and Ethiopia in terms of digital investment. This research relates to the promotion of the African Continental Free Trade Area (AfCFTA), in terms of construction and economic development. It also examines how the DSR raises concerns about data security and privacy, cross-border transactions, technology transfer, and cyberterrorism, as well as encourages digital investment, such as through enhancing digital governance regulations, modernizing international investment agreements (IIAs), and bolstering global health, coordination, and cooperation; the article concludes by analyzing the implications for Africa. The findings show that such cooperation would support Africa's digital transformation and sustainable development, while strengthening China–Africa cooperation. [ABSTRACT FROM AUTHOR]

Copyright of Environmental & Social Management Journal / Revista de Gestão Social e Ambiental is the property of Environmental & Social Management Journal 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.)

Copyright of Journal of Soil & Water Conservation (1009-2242) is the property of Institute of Soil & Water Conservation 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 issue of volatile food prices is a consistent problem for American consumers, as rising prices make it challenging to afford nutritious food that meets dietary standards. Various complex factors influence this price volatility, including economic conditions, weather patterns, global trade, energy prices, and more. Notably, the impact of food price increases is not equal for everyone. Low-income individuals and those in rural areas are disproportionately affected. A comprehensive understanding of the driving factors is essential to tackle this issue effectively. We employ advanced time-series techniques such as Vector Error Correction Models (VECM) and modern causal inference methods such as probabilistic graphical models implemented via machine learning and artificial intelligence approaches on monthly data from 2000 to 2021 to investigate the U.S. food price inflation issue. These methods help unravel the intricate dynamics among key variables driving food price inflation. The study aims to achieve several objectives. It intends to (1) clarify how factors influencing food price inflation in the U.S. change over time using VECM models, (2) establish causal relationships among interconnected variables to develop probabilistic graphical models using innovative search algorithms, and (3) create and validate forecasts related to U.S. food price inflation. The end goal is to provide actionable insights for policy design. Results show that food price inflation is heavily tied to commodity pricing and pricing for medical services. Additionally, historical decompositions for COVID-19 show ties between food price inflation and energy inflation. [ABSTRACT FROM AUTHOR]

It is indicated in a legal state, regulation of interaction between members of society, coordination of their interests and smoothing of conflicts arising between them and their associations is unthinkable without law. With the help of the influence of law on social relations, it is possible to order and regulate them in a civilized manner. In the sphere of achieving a state of security, the law allows you to set the limits of what is permitted, to determine the obligations and prohibitions in the behavior of the relevant subjects. Due to regulatory legal regulation, security receives a unique meaning that determines the final goal of its provision, connects it with national priorities and interests of each legal entity, preventing blurring of the understanding of the essential characteristics of the basic category «national security» and its derivatives. The conducted scientific analysis of the legal regulation of the economic security system of Ukraine made it possible to conclude that it has a complex and multifaceted nature, that is, it involves the creation of a complex of legal, economic and administrative-organizational mechanisms aimed at ensuring the rights of citizens and other subjects of economic activity to protect private property, economic freedom and unimpeded implementation of economic and other economic activities. It is pointed out that the state should implement the appropriate organizational and legal provision of economic security of Ukraine, aimed at increasing the investment attractiveness of the country, eliminating offenses in the economic sphere. The analysis of regulatory legal acts made it possible to single out the following shortcomings of the legal provision of economic security of Ukraine: complexity, vagueness and inconsistency of individual legislative norms, ambiguous interpretation in their application; inconsistency between developers and lack of system of legal acts regulating economic security. It was concluded that the presence of such shortcomings indicates the need to modify approaches to the formation of legal support for the economic security of the state, to make changes to the current legislation. [ABSTRACT FROM AUTHOR]

Since the Global Financial Crisis, interest in financial cycles has risen significantly. While much of modern macroeconomics conceives financial crises as the results of exogenous shocks, Minsky's financial instability hypothesis posits that financial cycles are endogenous to the economic system. The main contribution of this paper is to use historical macroeconomic data for the United States (1889–2014) to econometrically test for endogenous Minsky cycles: the interaction of procyclical private debt-to-income ratios and a dampening effect of private debt on economic activity. We analyze corporate debt-gross domestic product (GDP) growth cycles, which feature in Minsky's original writings, and mortgage debt-GDP growth cycles as in some recent Minsky-inspired models. We find robust evidence of endogenous corporate debt-GDP cycles over the last 125 years. These results are driven by the pre-World War II (WWII), and post-1973 periods, which had a more liberal economic policy orientation. We find no evidence of mortgage debt-GDP cycles. [ABSTRACT FROM AUTHOR]

Previous research suggests that societal threats often increase ideological support for the social system, but the attitudinal effects of COVID‐19 seem to have varied greatly. Here we present the results of a natural experiment involving New York City college students (Total N = 1300 observations). One group (n = 835) completed questionnaires before the onset of COVID‐19, while another completed them afterward (n = 465). Shortly after COVID (within 3 months of the outbreak), students scored higher on general system justification than before; this effect was driven by political conservatives. At the same time, students scored lower on economic system justification and right‐wing authoritarianism after COVID (vs. before); these effects emerged later (4–5 months after the outbreak) and were driven by liberals. A subsample completed the same questionnaires both before and after COVID‐19 (n = 107), enabling us to investigate intraindividual change. The within‐participants analysis revealed that students exhibited an increase in general system justification and a decrease in economic system justification, which was driven by those who exhibited a liberal shift. Together, these results indicate that the ideological effects of the pandemic and the governmental response to it were complex and polarizing, with liberals and conservatives moving in opposite directions at different times and on different attitudinal dimensions. [ABSTRACT FROM AUTHOR]

The Sustainable Development Goals are significantly increasing investments in the production of energy from renewable sources (RESs). To this end, the supply of monetary incentives by public institutions has increased sharply. This flow of money inevitably attracts the attention of criminal organizations (henceforth COs) that use their power to increase the volumes of investments, while public authorities might react by deciding not to make investments in RESs in areas at risk of distorted use of incentives. In this context, the research question is as follows: does the presence of COs slow down or encourage investment in RESs? Until now, this topic has received little attention from researchers, at least in the European Union. In particular, the presence of COs is particularly pervasive in the economic system of Italy. Given the heterogeneity of this country, a spatial econometric approach was used, taking into account geographical dependency relationships and their impact on the relevant variables. The main result of the research shows a negative relationship between Italian areas with higher CO levels and RES investments. In other words, investments are discouraged in these regions. This situation is detrimental to the target regions in terms of sustainable development and increasing the gross national product (GNP). Furthermore, we found that micro-crime cannot in any way influence investments in RESs. [ABSTRACT FROM AUTHOR]