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on Post Keynesian Economics |
| By: | Michael Callen; Jonathan Weigel; Noam Yuchtman; Michael J. Callen |
| Abstract: | We review an emerging experimental literature studying institutional change. Institutions are a key determinant of economic growth, but the “critical junctures” in which institutions can change are not precisely defined. For example, such junctures are often identified ex post, raising methodological problems: selection on the outcome of institutional change; an inability to study beliefs, central to coordination and thus the process of institutional change; and an inability to conduct experiments to identify causal effects. We argue that critical junctures are identifiable in real-time as moments when there exists deep uncertainty about future institutions. Consistent with this conception, the papers reviewed: (i) examine changes to institutions, i.e., the “fundamental rules of the game”; (ii) are real-time studies of plausible critical junctures; and, (iii) use field experiments to achieve causal identification. Substantively, this literature examines institutional changes in state capacity and legitimacy, political inclusion, and political accountability. We also advocate more systematic measurement of beliefs about future institutions to identify critical junctures as they happen and provide an empirical proof of concept. Such work is urgent given contemporary critical junctures arising from democratic backsliding, state fragility, climate change, and conflicts over the rights of the marginalized. |
| Keywords: | institutional change, critical junctures, field experiments, fragile states, belief elicitation |
| JEL: | P00 O10 D70 |
| Date: | 2023 |
| URL: | http://d.repec.org/n?u=RePEc:ces:ceswps:_10833&r=pke |
| By: | Hiroyuki TOSA (Graduate School of International Cooperation Studies, Kobe University) |
| Abstract: | For purposes of examining how to reformulate human security in the age of planetary crisis, this article is divided into eight sections. Following the introduction (section 1) describing the notion of Anthropocene, section 2 reviews recent revival of deep ecological thought: non-human turn in the context of Anthropocene. Section 3 discusses non-anthropocentrism and its limits by focusing on tacit anthropomorphism and introduces the concept of weak anthropocentrism. While going beyond simple deconstruction of nature/culture dichotomy, section 4 examines intertwined relations between ecological imbalance and social imbalance in the Patriarchal Capitalocene and section 5 examines racism: neuro-political fragmentation in Plantationocene. Section 6 introduces care-sensitive ethics for alleviating planetary crisis and the next section scrutinizes the implications of a crisis of care by looking at the way in which neoliberal capitalism guzzles care work from social reproductive sphere as well as extract wealth from natural sphere to sustain its accumulation. A final section: conclusion suggests the possibility of an ideal of total liberation framework for enhancing our practical capabilities to achieve the solidarity in a more-than-human world. |
| Keywords: | human security, posthuman, more-than-human, Anthropocene, Plantationocene, total liberation framework |
| Date: | 2023–12 |
| URL: | http://d.repec.org/n?u=RePEc:kcs:wpaper:41&r=pke |
| By: | Pedro Alba (BlueOrange Consulting and former World Bank staff); Patricia Bliss-Guest (former World Bank staff); Laura Tuck (former World Bank staff) |
| Abstract: | The current World Bank model focuses on reducing poverty and promoting equitable growth, while considering environmental and social sustainability. Programming of resources is country-driven, and resources are allocated to programs and investments according to priorities of client government authorities. Despite the appeal of this approach and its many benefits, it has left numerous global public goods (GPGs), particularly those related to climate change, underfinanced, undermanaged, and unachieved. The resulting limited levels of investment and programs have significant global cost and, potentially, extreme ramifications. While there has been considerable reflection on the question of mandate, as well as on options for improving financial engineering of the multilateral development banks (MDBs) to increase resources to better address GPGs, there has been little attention given to reforms and changes in the internal business model that would be required at an MDB like the World Bank if it were to implement a new global mission on climate change. This paper examines the changes in the internal business model that would allow the World Bank (or other MDBs) to better address climate change—and, with some adjustments, potentially, other GPGs. |
| Date: | 2023–03–16 |
| URL: | http://d.repec.org/n?u=RePEc:cgd:ppaper:288&r=pke |
| By: | Phoebe Koundouri; Konstantinos Dellis; Angelos Plataniotis |
| Abstract: | This paper delves into the multifaceted impacts of climate change on Europe. It examines the immediate risks, including infrastructure damage and health crises, and explores the broader socio-economic consequences. The paper highlights Europe's strategic responses, such as the European Green Deal, and its efforts in pioneering innovative, sustainable solutions. Key initiatives like the Net-Zero Cities program and the role of Public-Private Partnerships are discussed, emphasizing the need for holistic, cross-sector collaboration. It also addresses the financial mechanisms and regulatory frameworks crucial for supporting the green transition. Ultimately, the paper underscores the EU's commitment to a sustainable, resilient future, balancing economic growth with environmental stewardship. |
| Date: | 2023–12–21 |
| URL: | http://d.repec.org/n?u=RePEc:aue:wpaper:2320&r=pke |
| By: | Takeshi Kato |
| Abstract: | Reducing wealth inequality and disparity is a global challenge. The economic system is mainly divided into (1) gift and reciprocity, (2) power and redistribution, (3) market exchange, and (4) mutual aid without reciprocal obligations. The current inequality stems from a capitalist economy consisting of (2) and (3). To sublimate (1), which is the human economy, to (4), the concept of a "mixbiotic society" has been proposed in the philosophical realm. This is a society in which free and diverse individuals, "I, " mix with each other, recognize their respective "fundamental incapability" and sublimate them into "WE" solidarity. The economy in this society must have moral responsibility as a coadventurer and consideration for vulnerability to risk. Therefore, I focus on two factors of mind perception: moral responsibility and risk vulnerability, and propose a novel model of wealth distribution following an econophysical approach. Specifically, I developed a joint-venture model, a redistribution model in the joint-venture model, and a "WE economy" model. A simulation comparison of a combination of the joint ventures and redistribution with the WE economies reveals that WE economies are effective in reducing inequality and resilient in normalizing wealth distribution as advantages, and susceptible to free riders as disadvantages. However, this disadvantage can be compensated for by fostering consensus and fellowship, and by complementing it with joint ventures. This study essentially presents the effectiveness of moral responsibility, the complementarity between the WE economy and the joint economy, and the direction of the economy toward reducing inequality. Future challenges are to develop the WE economy model based on real economic analysis and psychology, as well as to promote WE economy fieldwork for worker coops and platform cooperatives to realize a desirable mixbiotic society. |
| Date: | 2023–12 |
| URL: | http://d.repec.org/n?u=RePEc:arx:papers:2312.06927&r=pke |