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on Heterodox Microeconomics |
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Issue of 2021‒09‒13
eight papers chosen by Carlo D’Ippoliti Università degli Studi di Roma “La Sapienza” |
| By: | Roos, Michael W. M.; Reale, Jessica; Banning, Frederik |
| Abstract: | This agent-based model contributes to a theory of corporate culture in which company performance and employees' behaviour result from the interaction between financial incentives, motivational factors and endogenous social norms. Employees' personal values are the main drivers of behaviour. They shape agents' decisions about how much of their working time to devote to individual tasks, cooperative, and shirking activities. The model incorporates two aspects of the management style, analysed both in isolation and combination: (i) monitoring efforts affecting intrinsic motivation, i.e. the firm is either trusting or controlling, and (ii) remuneration schemes affecting extrinsic motivation, i.e. individual or group rewards. The simulations show that financial incentives can (i) lead to inefficient levels of cooperation, and (ii) reinforce value-driven behaviours, amplified by emergent social norms. The company achieves the highest output with a flat wage and a trusting management. Employees that value self-direction highly are pivotal, since they are strongly (de-)motivated by the management style. |
| Keywords: | Values,social norms,remuneration systems,intrinsic motivation,monitoring,agent-based modelling |
| JEL: | D24 D91 J22 M52 M54 Z13 |
| Date: | 2021 |
| URL: | http://d.repec.org/n?u=RePEc:zbw:rwirep:917&r= |
| By: | Theresa Hager (Institute for Comprehensive Analysis of the Economy, Johannes Kepler University Linz, Austria); Ines Heck (University of Greenwich, Great Britain); Johanna Rath (Institute for Comprehensive Analysis of the Economy, Johannes Kepler University Linz, Austria) |
| Abstract: | We examine parallels and differences in the analyses of societal transition by Karl Polanyi and Joseph A. Schumpeter. We argue that although their understanding of historical processes differs – transformational-political vs. evolutionary-natural – the central mechanism of change they describe is the same. We identify three spheres essential to both authors’ works: the economic, the political and the socio-cultural sphere. Polanyi and Schumpeter describe an expansion of the economic sphere culminating in a subordination of the other parts of society. In capitalism this dominance stems from capitalism’s emergence as well as the concept of competition. The consequence is a profound change in societal relations. Changes in the socio-cultural sphere in turn produce changes in the political sphere that bring about detrimental consequences for democracy. In our paper we carve out the similarities as well as the differences in the respective theories, clarify the role competition plays therein and discuss the consequences for the political process. We adopt an analytical framework that puts the nearly analogous mechanism of change in the centre. This in turn enables us to make use of the complementarity and to gain valuable insights on the interdependence of capitalism and democracy that can inform trends and phenomena that are currently observed. |
| Date: | 2021–09 |
| URL: | http://d.repec.org/n?u=RePEc:ico:wpaper:128&r= |
| By: | Manuel Rubio García; Santiago Castaño Salas |
| Abstract: | Se realiza una presentación de la perspectiva teórica de Bhaduri-Marglin (Bhaduri & Marglin, 1990) como alternativa para explicar las diferencias en las trayectorias de crecimiento económico en las modernas sociedades capitalistas como resultado de la interacción entre distribución del ingreso y régimen de acumulación de capital. Se señala la presencia implícita de una distinción adicional que podría denominarse régimen institucional, que explica la diversidad de configuraciones distributivas. *** A presentation of the theoretical perspective of Bhaduri-Marglin is made (Bhaduri & Marglin, 1990) as an alternative to explain the differences in product growth trajectories in modern capitalist societies as a result of the interaction between income distribution and accumulation regime of capital. The implicit presence of an additional distinction, which could be called the institutional regime, explains the diversity of distributive configurations is pointed out. |
| Keywords: | conflicto distributivo, régimen de acumulación, trayectorias de crecimiento económico, política económica |
| JEL: | L38 L72 O13 O31 Q16 Q17 Q18 |
| Date: | 2020–08–08 |
| URL: | http://d.repec.org/n?u=RePEc:col:000430:019518&r= |
| By: | Michalis Nikiforos; Marcio Santetti; Rudiger von Arnim |
| Abstract: | This paper provides a theoretical and empirical reassessment of supermultiplier theory. First, we show that, as a result of the passive role it assigns to investment, the Sraffian supermultiplier (SSM) predicts that the rate of utilization leads the investment share in a dampened cycle or, equivalently, that a convergent cyclical motion in the utilization-investment share plane would be counterclockwise. Second, impulse response functions from standard recursive vector autoregressions (VAR) for postwar US samples strongly indicate that the investment share leads the rate of utilization, or that these cycles are clockwise. These results raise questions about the key mechanism underlying supermultiplier theory. |
| Keywords: | Sraffian Supermultiplier; Cyclical Growth; (Induced) Investment; Desired Rate of Capacity Utilization |
| JEL: | E12 E24 E25 E32 |
| Date: | 2021–09 |
| URL: | http://d.repec.org/n?u=RePEc:lev:wrkpap:wp_993&r= |
| By: | Halkos, George; Tsilika, Kyriaki |
| Abstract: | The main purpose of the present study is to feature the computational practice of green policy performance measurement. Computing the progress of the green economy includes topics as indicators and measures to characterize environmental sustainability, methodological issues to indicate and present spatiotemporal patterns of resource use and pollution, computational frameworks for comparisons of environmental management among economies / economic sectors / socio-economic systems, computational techniques to define the structure, dynamics, and change in ecosystems. Results are discussed in support of green policies. |
| Keywords: | Computational Economics; Sustainability. |
| JEL: | C60 C61 C63 C80 C81 C88 |
| Date: | 2021–09 |
| URL: | http://d.repec.org/n?u=RePEc:pra:mprapa:109632&r= |
| By: | Al-Qahtani, Maleeha Mohammed Zaaf; Alkhateeb, Tarek Tawfik Yousef; Mahmood, Haider; Abdalla, Manal Abdalla Zahed; Mawad, Ghada Shihata Ebrahim; Alkhatib, Maha Ahmed Hussein |
| Abstract: | Women empowerment may be utilized for sustainable development by using hidden un-utilized potential of the country. The present research is estimated the perception-based level of managerial, academic, economic, political and social women empowerment from a well-structured questionnaire. The Cronbach Alpha test is corroborated the reliability of each item in the hypothesized women empowerment dimension. We corroborate the satisfactory level of women empowerment in all hypothesized dimensions as per perception of the respondents. The highest average score is found for social women empowerment. It means that social women empowerment played a greatest role among others to empower the Saudi women. The second rank is achieved by academic women empowerment and the third position is for economic empowerment. Thus, economic empowerment and academic empowerment are playing their significant role in empowering the Saudi women. The lowest average mean is found for political empowerment. Hence, political domain need attention to provide women rights in political participation and processes. |
| Keywords: | Women empowerment, Managerial, Economic, Social, Political, Academic |
| JEL: | I00 |
| Date: | 2020–05–03 |
| URL: | http://d.repec.org/n?u=RePEc:pra:mprapa:109447&r= |
| By: | Suryawanshi, Deodatt Madhav; Rajseharan, Divya; Venugopal, Raghuram; R, Rishi; Balan, Sheeba |
| Abstract: | Worldwide women spend 4.5 hours daily on unpaid work while men spend about half of that time. The study aimed to estimate the time spent by both men and women on the various types of unpaid care labour find the economic estimates of unpaid labour. A descriptive cross-sectional study was conducted for a period of 3 months in 2020 in the rural area of South India. 360 study participants of 15 -60 years were recruited using simple random sampling and enquired for the time spent on care activities using time use survey . Cumulative hours spent per year and its economic estimate was calculated using Oxfam global care calculator. Female participants did significantly higher hours of unpaid care (3596.5 hrs) as compared to male participants (2938.3 hours) (p <0.05). Economic estimates of unpaid care per year were significantly higher (INR 103641.8) for females as compared to males (INR 84610) (p< 0.005). The policy makers and administrators should develop policies which recognise, reduce, redistribute and represent unpaid labour work. |
| Date: | 2021–09–02 |
| URL: | http://d.repec.org/n?u=RePEc:osf:socarx:ume8k&r= |
| By: | Rafael Wildauer (Department of International Business and Economics, University of Greenwich); Stuart Leitch (University of Greenwich); Jakob Kapeller (Institute for Socio-Economics, University of Duisburg-Essen, Germany; Institute for Comprehensive Analysis of the Economy, Johannes Kepler University Linz, Austria) |
| Abstract: | This paper investigates the potential of a European net wealth tax to raise substantial revenues while supporting the economy and the consensus on climate action. To achieve this, household survey data from the European Central Bank (covering 22 EU countries) are analysed. To address the problem of under-reporting of wealth at the top of the distribution in survey data, a Pareto distribution is fitted to the right tail of the data and used to create an amended data set which also represents these missing rich, whose wealth goes unreported. |
| Date: | 2021–09 |
| URL: | http://d.repec.org/n?u=RePEc:ico:wpaper:129&r= |