nep-hme New Economics Papers
on Heterodox Microeconomics
Issue of 2021‒04‒19
twenty papers chosen by
Carlo D’Ippoliti
Università degli Studi di Roma “La Sapienza”

  1. The Triple Day Thesis: Theorizing Motherhood within Marxist Economic Theory and Marxist Feminist Social Reproduction Theory By Elaine Agyemang Tontoh
  2. Marx's Equalized Rate of Exploitation By Jonathan F. Cogliano
  3. Book Review of Islam and the Moral Economy (The Challenge of Capitalism), Translated by Mahmoud Abdulhalimو, Reviewed by: Omar El Sayed Aly Hussein مراجعة علمية لكتاب: "تحدي الرأسمالية (الإسلام والاقتصاد الأخلاقي)"، ترجمة محمود عبدالحليم - مراجعة: عمر السيد علي حسين By Reviewed by Omar El Sayed Aly Hussein
  4. Ayman Reda: Prophecy, Piety, and Profits: A Conceptual and Comparative History of Islamic Economic Thought, Reviewed by: Tariq Aziz أيمن رضا: النبوة والتقوى والأرباح: تاريخ مفاهيمي ومقارَن للفكر الاقتصادي الإسلامي: مراجعة: طارق عزيز By Reviewed by: Tariq Aziz
  5. The "View from Manywhere": Normative Economics with Context-Dependent Preferences By Guilhem Lecouteux; Ivan Mitrouchev
  6. Income inequality and carbon consumption: evidence from Environmental Engel curves By Sager, Lutz
  7. Demand-pull and technology-push: What drives the direction of technological change? -- An empirical network-based approach By Kerstin H\"otte
  8. History as heresy: unlearning the lessons of economic orthodoxy By O'Sullivan, Mary
  9. Is green always attractive? The location choices of Chinese outward FDI By Andrea Ascani; Simona Iammarino
  10. The Struggle with Inequality By Shin-Ichiro Inaba
  11. We, the Rich: Inequality, Identity and Cooperation in Complex Societies By Andrea F.M. Martinangeli; Peter Martinsson
  12. Great Expectations. Hicks on Expectations from Theory of Wages (1932) to Value and Capital (1939) By Jean-Sébastien Lenfant
  13. Effect of Network Topology and Node Centrality on Trading By Felipe Maciel Cardoso; Carlos Gracia-Lázaro; Frederic Moisan; Sanjeev Goyal; Angel Sánchez; Yamir Moreno
  14. Les institutions face aux transformations sociétales By Alain Cambier; Isabelle Kustosz
  15. An evolutionary view on the emergence of Artificial Intelligence By Matheus E. Leusin; Bjoern Jindra; Daniel S. Hain
  16. Grundlagen sozial-ökologischer Transformationen: Gesellschaftsvertrag, Global Governance und die Bedeutung der Zeit. Eine konstruktive Kritik des WBGU-Gutachtens "Welt im Wandel - Gesellschaftsvertrag für eine große Transformation" By Manstetten, Reiner; Kuhlmann, Andreas; Faber, Malte; Frick, Marc
  17. Mission-oriented innovation policy in Japan: Challenges, opportunities and future options By Philippe Larrue
  18. Measuring Human Development for the Anthropocene By Ajay Chhibber
  19. La Agenda Global de Género: un camino para el empoderamiento By María del Pilar López Uribe; María Alejandra Chávez; María Paula Neira; Paulina Pastrana
  20. "The Souk Al-Manakh: The Anatomy of a Pure Price-Chasing Bubble" By Frank Veneroso; Mark Pasquali

  1. By: Elaine Agyemang Tontoh (Department of Economics, New School for Social Research)
    Abstract: The paper develops a theory of maternal economic oppression within capitalist society using Marxist theory and Marxist feminist social reproduction theory to address the triple day problem- the inability of a mother to engage in self-reproduction. Maternal economic oppression is conceptualized as the exploitation of motherhood labor - the socially necessary non-wage labor of childbearing and childrearing - through zero-compensation. Subsequently, the paper develops the single-double-triple-day (SDTD) argument of maternal economic oppression to make the case for motherhood compensation to resolve the triple day problem. The SDTD argument stipulates that as a mother’s work transitions from a single day to a double day, the tendency exists for the oppression of mothers to evolve into complex levels of destruction which triggers a critical need for mothers to engage in the triple day of self-reproduction with the evolution triggered primarily by the non-payment of monetary compensation for reproductive work. The paper finally makes the case for motherhood compensation to be paid during a child’s age of reproductive dependence rather than the age of reproductive independence if it is to be effective.
    Keywords: Triple day, maternal economic oppression, Marxist feminism, human essence, motherhood compensation, single-double-triple-day (SDTD) argument, material justice
    JEL: B51 B54 B55 D13 D63 J13 J16
    Date: 2021–04
  2. By: Jonathan F. Cogliano
    Abstract: Marx assumes a uniform rate of exploitation throughout Capital, yet the theoretical basis for this assumption and its role in his theory of value are not well understood in the existing literature. This paper shows that Marx assumed a tendentially equalized rate of exploitation to be the outcome of labor mobility, and that he viewed this as a general tendency of capitalist economies. Marx draws extensively on Adam Smith to support his views on labor mobility and the equalized rate of exploitation. The close connection between Smith and Marx on notions of labor mobility is examined here. Understanding the role of labor mobility and the equalized rate of exploitation in Marx’s work holds implications for contemporary approaches to classical-Marxian price and value theory and supports the view that Marx’s theory of value is, in the most general sense, a theory of the allocation of social labor.
    Keywords: Adam Smith; Karl Marx; Labor Mobility; Long-Period Method; Rate of Exploitation.
    JEL: B14 B24 B51 C67 D46 D51
    Date: 2021–04
  3. By: Reviewed by Omar El Sayed Aly Hussein (Ain Shams University)
    Abstract: This paper presents a review of Charles Tripp’s book (Islam and the Moral Economy: The Challenge of Capitalism). Charles Tripp a political science professor at the department of international and political Studies at the School of Oriental and African Studies, London university. The Book studies engagement of Muslim intellectuals with capitalism since the nineteenth century (The fall of the Ottoman Empire) and presents the different trends of thoughts and engagements during and after colonial rule towards it that has changed all aspects of Muslim life. The author detected much similarity with intellectual controversies that happened in the west at the early days of capitalism. He also appraised and critically studied the intellectual and practical institutional contributions of Islamic Economics. This Book review intended to analyze, examine, and discuss Tripp’s critique of Islamic Economics and moral economy in general. The paper concludes that many of the neoclassical school and modernist criticisms to Islamic Economics are contradictory, lack consistency with its methodology, develops many judgements and conclusions based upon false understanding of Shariah Laws, sometimes accusing Islamic economics with failures that are actual directly or indirectly related to conventional economics, also portraying Islamic Shariah of being Idealistic in a subjective manner, and doubts the originality of Islamic rulings falsely based on non-Islamic epistemological basis. The Islamic economic school of thought could benefit from this review realizing the need for greater consideration of raising public knowledge about true prophetic asceticism, Fiqh Muamalat Jurisprudence of financial transactions, establishing human behavioral theories directly from Quran and Sunnah texts, and reviewing classical theoretical economic literature islamically. تقدم هذه الورقة مراجعة علمية تقويمية لكتاب تحدي الرأسمالية (الإسلام والاقتصاد الأخلاقي) لكاتبه تشارلز تريب أستاذ السياسة في قسم الدراسات الدولية والسياسية بكلية الدراسات الشرقية والأفريقية بجامعة لندن. ويدرس الكتاب تعاطي المفكرين المسلمين مع الرأسمالية منذ القرن التاسع عشر (تدهور الدولة العثمانية) ويبين التوجهات المختلفة الناشئة بعده حيال الرأسمالية الداخلة على ديار المسلمين، إذ يرى المؤلف تشابهًا لها مع الاختلافات الفكرية التي حصلت في الغرب حيال الرأسمالية كذلك. وتعرّض المؤلف للجهود الفكرية والمؤسسات التطبيقية للاقتصاد الإسلامي بالنقد والتقويم. وتستهدف هذه المراجعة العلمية للكتاب التحليل والنقد والاستفادة من انتقادات المؤلف على الاقتصاد الإسلامي خصوصًا والاقتصاد الأخلاقي عمومًا. وخلصت الورقة إلى أن كثيرًا من الانتقادات الموجهة من قبل المدرسة النيوكلاسيكية والحداثية للاقتصاد الإسلامي تتسم بالتناقض، والتعدي المنهجي في النقد، وبناء الأحكام على سوء فهم لأحكام الشريعة، وأحيانًا نقض الاقتصاد الإسلامي بما يتصف به الاقتصاد التقليدي، ومعارضة المعايير الإسلامية بدعوى المثالية، وتبني شبهات حول الربا مشابهة بشبهات المعارضين في القرآن. ويستفاد من المراجعة الحاجة الملحة للاهتمام بنشر علوم التزكية، والزهد، والتثقيف العام بالمعاملات الإسلامية، وإثبات الجانب الوصفي من الاقتصاد الإسلامي من القرآن والسنة مباشرة، وإقامة الدراسات النقدية للكتابات التأسيسية للاقتصاد التقليدي.
    Keywords: Moral economy, capitalism, Islamic socialism, Zakat, Islamic banking, Religious authority. الاقتصاد الأخلاقي، الرأسمالية، الاشتراكية الإسلامية، الزكاة، المصرفية الإسلامية.
    JEL: Z12 P16
    Date: 2020–10
  4. By: Reviewed by: Tariq Aziz (Assistant Professor, Department of Business Administration, Aligarh Muslim University, India)
    Abstract: In the history of ideas, the unit of analysis is an individual concept. A historian tries to identify and describe the emergence, evolution, and recession of ideas over time. The present book may fall in this category where the author presents the history of intellectual thought on selected topics in major intellectual traditions including Islam. Islamic economic thought is an important link between Greek philosophy and modern economic thought. This book under review presents, in an intellectually provoking and lucid manner, the intellectual economic thoughts in Greek, Christian, Islamic, classical, neoclassical, and modern intellectual traditions. At a time when the world is facing grave economic and financial issues, the book’s attempt to provide an intellectual history of economic thought from diverse traditions is novel in its scope and aspiration. This is an admirable work in an area of immense importance. وحدة التحليل هي مفهوم فردي في تاريخ الأفكار. من واجبات المؤرخ أن يحاول تحديد ووصف ظهور وتطور وانكماش الأفكار بمرور الوقت. قد يقع هذا الكتاب في هذه الفئة حيث يعرض المؤلف تاريخ الفكر الفكري حول مواضيع مختارة في التقاليد الفكرية الرئيسية بما في ذلك الإسلام. الفكر الاقتصادي الإسلامي هو رابط مهم بين الفلسفة اليونانية والفكر الاقتصادي الحديث. يعرض هذا الكتاب قيد المراجعة، بطريقة استفزازية وواضحة، الأفكار الاقتصادية الفكرية في التقاليد الفكرية اليونانية والمسيحية والإسلامية والكلاسيكية والحديثة. في الوقت الذي يواجه فيه العالم مشاكل اقتصادية ومالية خطيرة، فإن محاولة الكتاب تقديم تاريخ فكري للفكر الاقتصادي من تقاليد متنوعة هي جديدة في نطاقه وطموحه. هذا عمل مثير للإعجاب في منطقة ذات أهمية كبيرة.
    Keywords: Intellectual thought, Islam, Greek ideas, Classical tradition, Neoclassical economics. الفكر الفكري، الإسلام، الأفكار اليونانية، التقليد الكلاسيكي، الاقتصاد الكلاسيكي الجديد.
    JEL: B10 B20 B29
    Date: 2020–07
  5. By: Guilhem Lecouteux (Université Côte d'Azur; GREDEG CNRS); Ivan Mitrouchev (Univ Lyon, UJM Saint-Etienne, GATE, France; Université de Reims Champagne-Ardenne, REGARDS, France)
    Abstract: We propose a methodology for behavioural normative economics based on a precise characterisation of context-dependence. The key feature of our proposal is to locate normative authority, not in the synoptic and third-person judgement of the social planner ("view from nowhere"), nor in the first-person judgement of the individual ("view from somewhere"), but in the second-person ability of the individual to confront conflicting judgements across contexts ("view from manywhere"). We offer a definition of the "context" in behavioural normative economics, propose a critical review of the related literature, and then advance our own proposal. We formulate a normative criterion of "self-determination" and justify it with two complementary approaches, interpreting the "view from manywhere" either as an extension of Sugden's opportunity criterion, or as an application of Sen's "positional views" in his theory of justice to behavioural normative economics.
    Keywords: normative economics, social planner, context-dependent preferences, behavioural public policy, second-person standpoint
    JEL: B41 D63 D90 I31
    Date: 2021–04
  6. By: Sager, Lutz
    Abstract: I investigate the relationship between income inequality and the carbon dioxide (CO2) content of consumption. I quantify the CO2 content of household expenditure using input-output analysis and estimate Environmental Engel curves (EECs) which describe the income–emissions relationship. Using EECs for the United States between 1996 and 2009, I decompose the change in CO2 over time and the distribution of emissions across households. In both cases, income is an important driver of household carbon. Finally, I describe a potential “equity-pollution dilemma”—progressive income redistribution may raise the demand for aggregate greenhouse gas emissions. I estimate that transfers raise emissions by 5.1% at the margin and by 2.3% under complete redistribution.
    Keywords: consumption; inequality; pollution; redistribution
    JEL: D12 D31 H23 Q40 Q52
    Date: 2020–10–01
  7. By: Kerstin H\"otte
    Abstract: Demand-pull and technology-push are linked to an empirical two-layer network-based on coupled cross-industrial input-output (IO) and patent citation links among 155 4-digit (NAICS) US-industries in 1976-2006 to study the evolution of industry hierarchies and link formation. Both layers co-evolve, but differently: The patent network became denser and increasingly skewed, while market hierarchies are balanced and sluggish in change. Industries became more similar by patent citations, but less by IO linkages. Having similar R&D capabilities as other big industries is positively related to innovation and growth, but relying on the same market inputs is unfavorable but may incite industries to explore other technological pathways. A tentative interpretation is the non-rivalry of intangible knowledge. This may strengthen existing R&D trajectories. Growth in the market is constrained by competition and market pressure may trigger a re-direction in both layers. This work is limited by its reliance on endogenously evolving classifications.
    Date: 2021–04
  8. By: O'Sullivan, Mary
    Abstract: In spring 2020, in the face of the covid-19 pandemic, central bankers in rich countries made unprecedented liquidity injections to stave off an economic crisis. Such radical action by central banks gained legitimacy during the 2008-2009 global financial crisis and enjoys strong support from prominent economists and economic historians. Their certainty reflects a remarkable agreement on a specific interpretation of the Great Depression of the 1930s in the United States, an interpretation developed by Milton Friedman and Anna Schwartz in A Monetary History of the United States (1963). In this article, I explore the origins, the influence and the limits of A Monetary History’s interpretation for the insights it offers on the relationship between theory and history in the study of economic life. I show how historical research has been mobilised to show the value of heretical ideas in order to challenge economic orthodoxies. Friedman and Schwartz understood the heretical potential of historical research and exploited it in A Monetary History to question dominant interpretations of the Great Depression in their time. Now that their interpretation has become our orthodoxy, I show how we can develop the fertile link between history and heresy to better understand our economic past.
    JEL: N0 N1 N2 B3 B4 B5
    Date: 2021
  9. By: Andrea Ascani (Gran Sasso Science Institute); Simona Iammarino (London School of Economics)
    Abstract: With the exponential growth of the role of China in the global economy, the environmental implications of its international expansion are serious but still scarcely investigated. This paper analyses the location of 6,494 manufacturing subsidiaries of Chinese Multinational Enterprises (MNEs) in 78 countries over the period 2008-2015, in response to the environmental performance of host economies, in order to explore whether degraded environmental contexts represent a pull factor for Chinese outward foreign direct investment (FDI). We build an original conceptual framework combining traditional race-to-the-bottom arguments with a set of conditioning factors pertaining to heterogeneity of both host countries and MNEs. By empirically accounting for endogeneity concerns, our results suggest that Chinese outward FDI may feed a downward spiral by systematically favouring locations with more fragile ecosystem vitality, that is, a weakly sustainable use of local natural resources and the consequent erosion of the quality of the natural ecosystems. These results characterise Chinese subsidiaries (i) locating in developing countries, (ii) operating within deficient institutional frameworks and (iii) privately owned
    Keywords: multinational enterprises, outward FDI, environment, location strategies, China
    JEL: F23 F64 Q5
    Date: 2020–11
  10. By: Shin-Ichiro Inaba
    Abstract: This is an introductory textbook of the history of economics of inequality for undergraduates and genreral readers. The first and second chapters focus on Adam Smith and Karl Marx, in the broad classical tradition of economics, where it is believed that there is an inseparable relationship between production and distribution, economic growth and inequality. Chapters 3 and 4 argue that despite the fact that the founders of the neoclassical school had shown an active interest in worker poverty, the issues of production and distribution became discussed separately among neoclassicals. Toward the end of the 20th century, however, there was a renewed awareness within economics of the problem of the relationship between production and distribution. The young Piketty's beginnings as an economist are set against this backdrop. Chapters 5 to 8 will explain the circumstances of the restoration of classical concerns within the neoclassical framework. Then, in chapters 9 and 10, I will discuss the fact that Thomas Piketty's seminal work is a new development in this "inequality renaissance," and try to gain a perspective on future trends in the debate. Mathematical appendix presents simple models of growth and distribution.
    Date: 2021–04
  11. By: Andrea F.M. Martinangeli; Peter Martinsson
    Abstract: Inequality not only generates status differentials between rich and poor individuals, it also generates status differentials between groups of different composition and income level. We organise the social structure within which groups are embedded to directly manipulate the processes of categorization, identiï¬ cation and comparison to induce weaker or stronger group identities. How well individuals cooperate within each of such groups will ultimately determine the degree of cooperativeness within the whole society. We ï¬ nd that the impact of inequality on social cooperativeness is as complex as is the social structure itself: cooperation varies with the strength of the group’s identity as predicted by social identity theory. In particular, high endowment homogeneous groups cooperate most and increasingly over time. Low endowment homogeneous groups display intermediate levels of cooperation. Heterogeneous groups cooperate least, a result driven by lack of cooperation on behalf of the rich. When comparing with an analogous fully homogeneous society, we show that the resulting net impact of inequality on social cooperation is not obvious.
    Keywords: experiment, inequality, multiple groups, public goods, social identity
    JEL: C91 H41
    Date: 2019–11
  12. By: Jean-Sébastien Lenfant (CLERSE - Centre Lillois d’Études et de Recherches Sociologiques et Économiques - UMR 8019 - Université de Lille - CNRS - Centre National de la Recherche Scientifique)
    Abstract: The article is intended as an in-depth study of the development and role of expectations within John R. Hicks' representation of the functioning of a capitalist economy. It covers his contributions to economic theory in the 1930s, with a particular focus on Value and Capital. The question underlying the study is whether Hicks develops a theory of expectations. We argue that there are several elements of such a theory in Hicks's work, though what is most important to him is the historical dynamic generated by heterogeneity of expectations.
    Abstract: L'article explore en détail le développement et le rôle des anticipations dans la représentation du fonctionnement d'une économie capitaliste selon John Hicks. Il couvre ses contributions à la théorie économique dans les années, 1930, avec un accent sur Valeur et Capitali. La question posée est de savoir si Hicks propose une théorie des anticipations. Nous soutenons qu'il y a plusieurs éléments d'une telle théorie dans les écrits de Hicks, mais que ce qui est le plus important pour lui est la dynamique historique générée par l'hétérogénéité des anticipations.
    Keywords: Hicks (john Richard),expectations,temporary equilibrium,stability,cycles Hicks (John Richard),anticipations,équilibre temporaire,stabilité,cycles
    Date: 2020
  13. By: Felipe Maciel Cardoso (emlyon business school); Carlos Gracia-Lázaro; Frederic Moisan; Sanjeev Goyal; Angel Sánchez; Yamir Moreno
    Abstract: Global supply networks in agriculture, manufacturing, and services are a defining feature of the modern world. The efficiency and the distribution of surpluses across different parts of these networks depend on the choices of intermediaries. This paper conducts price formation experiments with human subjects located in large complex networks to develop a better understanding of the principles governing behavior. Our first experimental finding is that prices are larger and that trade is significantly less efficient in small-world networks as compared to random networks. Our second experimental finding is that location within a network is not an important determinant of pricing. An examination of the price dynamics suggests that traders on cheapest—and hence active—paths raise prices while those off these paths lower them. We construct an agent-based model (ABM) that embodies this rule of thumb. Simulations of this ABM yield macroscopic patterns consistent with the experimental findings. Finally, we extrapolate the ABM on to significantly larger random and small-world networks and find that network topology remains a key determinant of pricing and efficiency.
    Date: 2020–07–06
  14. By: Alain Cambier (STL - Savoirs, Textes, Langage (STL) - UMR 8163 - Université de Lille - CNRS - Centre National de la Recherche Scientifique); Isabelle Kustosz (CRISS - Centre de Recherche Interdisciplinaire en Sciences de la Société - UPHF - Université Polytechnique Hauts-de-France, UPHF - Université Polytechnique Hauts-de-France)
    Abstract: Si la fonction des institutions est d'établir avant tout des régulations stabilisatrices pérennes fondées sur des représentations collectives cristallisées de ce qui est censé être reconnu comme des comportements « normaux », il apparaît que la « normalisation » des transformations sociétales ne va pas immédiatement de soi. Au contraire, l'expression des revendications sociétales ne peut que mettre en porte-à-faux les institutions établies et remettre en question toute approche réductionniste des problèmes de la société. Dans cet article nous proposons de repenser l'institutionnalisation comme transduction des transformations sociétales en nous appuyant sur l'analyse de situations issues du contexte socio-économique actuel. Ce faisant nous nous intéressons aux nouvelles formes d'institutionnalisation qui consistent à parachever les processus d'individuation et contribuent ainsi au déploiement de l'action publique.
    Date: 2020–11
  15. By: Matheus E. Leusin; Bjoern Jindra; Daniel S. Hain
    Abstract: This paper draws upon the evolutionary concepts of technological relatedness and knowledge complexity to enhance our understanding of the long-term evolution of Artificial Intelligence (AI). We reveal corresponding patterns in the emergence of AI - globally and in the context of specific geographies of the US, Japan, South Korea, and China. We argue that AI emergence is associated with increasing related variety due to knowledge commonalities as well as increasing complexity. We use patent-based indicators for the period between 1974-2018 to analyse the evolution of AI's global technological space, to identify its technological core as well as changes to its overall relatedness and knowledge complexity. At the national level, we also measure countries' overall specialisations against AI-specific ones. At the global level, we find increasing overall relatedness and complexity of AI. However, for the technological core of AI, which has been stable over time, we find decreasing related variety and increasing complexity. This evidence points out that AI innovations related to core technologies are becoming increasingly distinct from each other. At the country level, we find that the US and Japan have been increasing the overall relatedness of their innovations. The opposite is the case for China and South Korea, which we associate with the fact that these countries are overall less technologically developed than the US and Japan. Finally, we observe a stable increasing overall complexity for all countries apart from China, which we explain by the focus of this country in technologies not strongly linked to AI.
    Date: 2021–01
  16. By: Manstetten, Reiner; Kuhlmann, Andreas; Faber, Malte; Frick, Marc
    Abstract: Vor einem Jahrzehnt wurde das Hauptgutachten des Wissenschaftlichen Beirats der Bundesregierung für Globale Umweltveränderungen (WBGU) veröffentlicht. Dieser Versuch einer Bestandsaufnahme im Jahre 2011 hat national und international Impulse gesetzt und Orientierung gegeben. Der WBGU ging aufs Ganze: die Dringlichkeit eines auf nachhaltige Entwicklung zielenden Wandels sollte im Zusammenspiel von Politik, Wirtschaft, Gesellschaft und Natur gezeigt werden. Die zentrale Botschaft war ein "Gesellschaftsvertrag für eine Große Transformation", der bis 2021 umgesetzt werden müsse. Wie ist der Bericht heute zu beurteilen? Wir werden die Positionen des WGBU referieren, seine Verdienste nennen und sie konstruktiv-kritisch kommentieren. Unser Vorgehen orientiert sich an fünf Themenschwerpunkten des Berichtes, nämlich: Globaler Gesellschaftsvertrag, Global Governance am Beispiel des Pariser Klimaabkommens, Akzeptanz der Beteiligten und Betroffenen, Dringlichkeit des wirtschaftlichen, politischen und gesellschaftlichen Handelns sowie die Idee einer Großen Transformation. In unserer Kritik entwickeln wir Vorschläge für ein konstruktives Weiterdenken dessen, was im WBGU-Bericht angelegt ist, aber nicht zu Ende gedacht wurde. Unsere Schwerpunkte liegen insbesondere auf dem Umgang mit Zeit und dem Begriff der Großen Transformation. Dabei werden wir auch auf die Bedeutung von technischem Forstschritt, Innovation und von Unwissen eingehen. [...]
    Keywords: Great Transformation,social-ecological transformation,global social contract,consensus,global governance,top-down/bottom-up approach,ignorance,temporal structures,technical progress,international climate policy,WBGU,Fridays for Future
    JEL: A00 A12 B12 B59 F64 H19 N50 O39 Q01 Q50 Q59
    Date: 2021
  17. By: Philippe Larrue (OECD)
    Abstract: This report assesses the potential for mission-oriented innovation policies (MOIPs) to contribute to the sustainable transition in Japan, and examines the challenges and opportunities that MOIPs would present. As part of a series of MOIP national case studies, the report finds that the ongoing ambitious and top-down MOIPs led by the center-of-government build upon a long history of proactive and goal-oriented policy intervention. MOIPs in Japan are the latest step of decades of efforts to reduce the fragmentation and lack of holistic coordination of Japan’s science, technology and innovation policy in order to proactively address societal challenges. Available evaluations of these policies demonstrate very encouraging results in that regards. The study concludes with recommendations to pursue these efforts, including by mainstreaming these policy initiatives across the government structure and complementing them with more bottom-up challenge-based initiatives.
    Keywords: Innovation, Science and technology, Societal challenges
    JEL: O14 O25 O38 Q55
    Date: 2021–04–13
  18. By: Ajay Chhibber (George Washington University)
    Abstract: This paper makes the case for an adjusted Human Development Index (HDI) that adds sustainability, vulnerability and human security to the existing HDI components of income, health and education. It shows that these additional elements were part of the discourse in many original writings on human development. They are also central in any discourse on development today. The HDI has made progress by adding gender and inequality in its formulations, but is more reflective of the Millennium Development Goal (MDG) agenda than the more comprehensive Sustainable Development Goals (SDGs) agreed in 2015. The paper reviews existing indicators and suggests a way towards an adjusted HDI. It shows that above an HDI level of 0.8, the cut-off for very high human development, major trade-offs emerge with ecology. It argues for incorporating ecological and human security variables into the HDI, and creating a vulnerability-adjusted HDI that measures resilience to ecological, health and economic shocks, akin to the Inequality-adjusted HDI.
    Date: 2021–06
  19. By: María del Pilar López Uribe; María Alejandra Chávez; María Paula Neira; Paulina Pastrana
    Abstract: ¿Cuáles son los logros y retos que las mujeres han enfrentado durante los últimos 20 años? Este capítulo buscar dar una explicación más detallada de los caminos para el empoderamiento de la mujer en siete áreas: política, salud, educación, trabajo, posconflicto, agricultura, y la reducción de la violencia sexual. A pesar del significativo progreso en la equidad de género, en la actualidad hay retos que solo puede ser enfrentados con cambios culturales y educativos. Se han dado diversas políticas que buscan la reducción de las brechas de género en muchas esferas, pero para lograr este objetivo es crucial cambiar las creencias sociales desfavorables, comportamientos, estereotipos y los tipos de violencia hacia las mujeres. En consecuencia, la definición de una agenda de género es vital para establecer el punto inicial hacia el empoderamiento de la mujer en el mundo y para proveer ciertos mínimos que los gobiernos deben lograr en aras de la equidad de género. Esta definición depende de las necesidades de cada región, pero las mujeres enfrentan problemas urgentes para la equidad de género en el acceso a servicios médicos, información y crédito especialmente en zonas rurales.
    Keywords: Empoderamiento, Equidad de género, Representación de la mujer
    JEL: D13 I31 D63 Y30
    Date: 2021–04–05
  20. By: Frank Veneroso; Mark Pasquali
    Abstract: It is widely agreed that the Nasdaq during the dot-com era 20 years ago was a full-fledged stock market bubble. Recently, the US stock market according to many metrics has become significantly more speculative and overvalued than it was at the dot-com peak 20 years ago. In both instances, a very broad subset of stocks became so highly valued that speculation in them had to be untethered from all fundamentals: the essence of what we call a "pure price-chasing bubble." This paper, drawn from a book in progress, examines the history of stock markets for comparable pure price-chasing bubbles, finding nine or so which have ever reached such a speculative extreme, with an over-the-counter market in Kuwait in the early 1980s called the "Souk al-Manakh" representing the most extreme example. Based on personal exposure to this Souk al-Manakh almost 40 years ago, we describe this anatomy and thereby make transparent the recurrent dynamics--on the way up and on the way down--of these greatest asset bubbles in human history. When one applies this framework to the current US stock market, one sees that the stock market in the US today will likely follow the disastrous path of the dot-com market.
    Keywords: John Maynard Keynes; Business Cycle; Fiscal Policy; Monetary Policy; Financial System; Uncertainty
    JEL: B31 E12 E32 E44 E63
    Date: 2021–03

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