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on Post Keynesian Economics |
| By: | Skouras, Thanos |
| Abstract: | The volume of profits in an economy is a magnitude, which is out of sight of orthodox macroeconomics textbooks and effectively ignored by neoclassical economics. In contrast, Kalecki's approach brings to the forefront the sources of profits and makes possible their further analysis. The sources of profits are examined one by one and their impacts, as well as the inter-relations among them are studied in some detail. The sustainability of the profits' sources tends to have inevitable limits, which are discussed and elucidated. On the basis of these limits, two phases in the operation of the sources may be distinguished. The beneficial phase is transformed into a pathological one, as the limits are approached. Consequently, profits may be distinguished according to the source from which they flow, as well as the phase in which they arise. Taking into account both source and phase, a terminology is proposed to highlight the distinctive character of the different kinds of profits. |
| Keywords: | profits, investment, export surplus, budget deficit, consumption out of profits, saving out of wages, profits' limits and sustainability |
| JEL: | B5 B59 E12 P16 |
| Date: | 2013–04–26 |
| URL: | http://d.repec.org/n?u=RePEc:pra:mprapa:46567&r=pke |
| By: | Asheim, Bjørn (CIRCLE and the Department of Human Geography, Lund University; Nordic Institute for Studies in Innovation, Research and Education (NIFU), Norway); M. Bugge, Markus (Nordic Institute for Studies in Innovation, Research and Education, Norway); Coenen, Lars (CIRCLE, Lund University; Nordic Institute for Studies in Innovation, Research and Education (NIFU), Norway); Herstad, Sverre (NIFU, Oslo Norway) |
| Abstract: | The article discusses the strategic roles of public policy and institutions and the way this effect to the efficiency of regional innovation systems in the landscape of evolutionary economic geography. It argues that the current emphasis on path dependency historically contingent preconditions has provided important insights into the interdependencies between industrial knowledge bases and routines, regional system dynamics and long-term development paths. Yet, it falls short of capturing the scope of policy intervention which follows logically from the evolutionary framework itself. Anchored in a renewed regional innovation systems approach, the article presents a policy intervention framework for constructing regional advantage in different contexts. |
| Keywords: | evolutionary economic geography; institutions; regional innovation policy; clusters; regional innovation systems |
| JEL: | B52 O33 O38 |
| Date: | 2013–02–10 |
| URL: | http://d.repec.org/n?u=RePEc:hhs:lucirc:2013_005&r=pke |
| By: | Oriana Bandiera; Robin Burgess; Narayan Das; Selim Gulesci; Imran Rasul; Munshi Sulaiman |
| Abstract: | The world's poorest people lack capital and skills and toil for others in occupations that others shun. Using a large-scale and long-term randomized control trial in Bangladesh this paper demonstrates that sizable transfers of assets and skills enable the poorest women to shift out of agricultural labor and into running small businesses. This shift, which persists and strengthens after assistance is withdrawn, leads to a 38% increase in earnings. Inculcating basic entrepreneurship, where severely disadvantaged women take on occupations which were the preserve of non-poor women, is shown to be a powerful means of transforming the economic lives of the poor. |
| Keywords: | asset transfers, capital constraints, vocational training, occupationalchoice, structural change, poverty. |
| JEL: | O12 I30 D50 |
| Date: | 2013–04 |
| URL: | http://d.repec.org/n?u=RePEc:cep:stieop:43&r=pke |