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on Post Keynesian Economics |
| By: | Emmanuel Petit (BSE - Bordeaux Sciences Economiques - UB - Université de Bordeaux - CNRS - Centre National de la Recherche Scientifique) |
| Abstract: | Emotions have been gradually integrated into economic analysis over the past thirty years. Hope, however, remains an emotion little mobilized by economists. None of the closely related concepts of common use in economics corresponds to the consensual definition found in psychology. By relying on notions such as expectations, aspirations, optimism, anticipations or even confidence, behavioral economics provides the first (admittedly insufficient) milestones for an economic theory of hope. By relying on the psychological theory of Richard Snyder, and comparing it to the transactional approach of John Dewey, we show that hope can be perceived as a mode of conduct capable of producing a transformation in individual behavior. By mobilizing the institutional theory of John Commons—and in particular the notion of "futurity"—it appears that the transactional conception of hope deepens the nature of anticipations in institutional theory. |
| Keywords: | hope, Psychological theory, Behavior, Anticipation, Snyder (Richard), Commons (John R.), Dewey (John), espoir, théorie psychologique, comportement, anticipation |
| Date: | 2024–06–01 |
| URL: | https://d.repec.org/n?u=RePEc:hal:journl:hal-04715066 |
| By: | Carlos J. Gil-Hern ndez; Pedro Salas-Rojo; Guillem Vidal-Lorda; Davide Villani |
| Abstract: | Wealth is a central determinant of life chances and intergenerational status persistence in modern societies. Yet, sociologists traditionally overlooked its role in class measurement and inequality, while most economists focused on the elites. This article reconciles sociological and economic perspectives on class analysis by examining the relationship between classes and wealth inequality versus income. Drawing from the Luxembourg Wealth Study (2002-2018) in five European countries, we test whether occupational classes, based on the entire division of labour, keep up with rising economic inequality trends. In contrast to bold claims on class death or decomposition, inequality of outcomes in wealth accumulation is firmly rooted across occupational classes in contemporary capitalism, potentially harming future equal opportunity and social mobility. Still, occupational classes better capture between-group income inequality and stratification than wealth, emphasising the importance of economic resources beyond labour market attachment that spark advances in social class theory and measurement. |
| Date: | 2024–03 |
| URL: | https://d.repec.org/n?u=RePEc:lis:lwswps:43 |
| By: | Rim Berahab |
| Abstract: | Green industrial policies are essential to enable the structural transformations needed for a successful transition to a low-carbon economy. Because of the pressing need to decouple economic growth from environmental degradation, it is imperative to reallocate resources strategically from carbon-intensive sectors to sustainable, high-productivity industries. This transition is critical both to mitigate the impacts of climate change and to promote long-term economic growth and sustainability. This paper examines Morocco’s green transition and identifies several key issues that must be addressed to ensure success. These include the need for a coherent institutional framework, the implementation of effective regulatory measures, and greater private-sector involvement. Furthermore, the analysis highlights the importance of regional collaboration, innovation, and research and development in overcoming challenges to a sustainable transition. It also analyses the European Union’s Carbon Border Adjustment Mechanism (CBAM) as a case study of how trade policies can be used to encourage decarbonization and align international trade practices with environmental objectives. |
| Date: | 2024–09 |
| URL: | https://d.repec.org/n?u=RePEc:ocp:rpcoen:pp_13-24 |
| By: | Jonathan M. Colmer; Suvy Qin; John L. Voorheis; Reed Walker |
| Abstract: | This paper explores the relationships between air pollution, income, wealth, and race by combining administrative data from U.S. tax returns between 1979-2016, various measures of air pollution, and sociodemographic information from linked survey and administrative data. In the first year of our data, the relationship between income and ambient pollution levels nationally is approximately zero for both non-Hispanic White and Black individuals. However, at every single percentile of the national income distribution, Black individuals are exposed to, on average, higher levels of pollution than White individuals. By 2016, the relationship between income and air pollution had steepened, primarily for Black individuals, driven by changes in where rich and poor Black individuals live. We utilize quasi-random shocks to income to examine the causal effect of changes in income and wealth on pollution exposure over a five year horizon, finding that these income-pollution elasticities map closely to the values implied by our descriptive patterns. We calculate that Black-White differences in income can explain approximately 10 percent of the observed gap in air pollution levels in 2016. |
| JEL: | H0 H4 Q5 R0 |
| Date: | 2024–10 |
| URL: | https://d.repec.org/n?u=RePEc:nbr:nberwo:33050 |
| By: | Otaviano Canuto Hinh T. Dinh Karim El Aynaoui Hafez Ghanem Badr Mandri |
| Abstract: | This policy brief was originally published on T20 India website A decade of poor growth, increased poverty, and political instability followed the serious debt difficulties that emerged worldwide in the 1980s. There are concerns that the looming debt crisis could create similar challenges and result in even more severe consequences. However, the current economic climate differs in many ways from that of the 1980s, when international banks and Paris Club creditors held most of the external debt. Today, the profile of creditors is more diverse, and the mechanisms established by the G20 and multilateral development banks to address this new crisis are partly based on outdated approaches that are no longer effective in adapting to new realities. As a result, a more holistic and integrated approach is required to address the challenges of external debt faced by developing countries, particularly in Africa. Such an approach should take into account the issue of over-indebtedness while also addressing climate protection, the most pressing issue of the 21st century. A promising solution to tackling these challenges could be a new debt reduction initiative focused on climate action. This policy brief recommends a ‘Debt Relief for Climate Initiative’ that will link debt reduction with investments in climate adaptation and mitigation projects. |
| Date: | 2023–06 |
| URL: | https://d.repec.org/n?u=RePEc:ocp:rtrade:none |