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on Post Keynesian Economics |
| By: | Khawaja, Jawad; Raza, Hamid |
| Abstract: | While mainstream macroeconomics has long treated distributional issues as secondary, often dismissing them as outside the purview of monetary policy, the post-Keynesian tradition emphasizes that income distribution, financial positions, and class dynamics are central to understanding macroeconomic outcomes. Drawing on this rich theoretical framework, this paper empirically investigates the distributive and sectoral consequences of monetary policy, an important but often neglected area within post-Keynesian empirical research. Using data for three Nordic countries (Denmark, Sweden, and Finland), we provide empirical evidence on how contractionary monetary policy shocks propagate through functional income shares, compress private demand, and reconfigure financial balances of the institutional sectors. Our paper bridges the gap between post-Keynesian theoretical insights and the empirical rigour essential in policy development. The results show that interest rate changes are not only non-neutral but fundamentally distributive, systematically redistributing income and reshaping balance sheets. |
| Keywords: | Monetary Policy, Income Distribution, Sectoral Balances, Financialization |
| Date: | 2026 |
| URL: | https://d.repec.org/n?u=RePEc:zbw:cessdp:340842 |
| By: | Sule Alan |
| Abstract: | This chapter examines how schools cultivate socio-emotional skills that influence both individual success and broader social cohesion. Moving beyond the traditional focus on cognitive ability, I argue that education plays a crucial role in fostering traits that promote cooperation, trust, and long-term societal well-being. Drawing on insights from neuroscience, psychology, and economics, I explore how schools shape not only academic and labor market outcomes but also intergenerational beliefs, attitudes, and the formation of social capital. Using evidence from experimental studies, I highlight how school-based interventions can instill perseverance, enhance social learning, and create environments that curb anti-social tendencies, promote prosocial behavior—ultimately influencing the cultural fabric of society. This perspective reframes education as a mechanism for building more equitable and cohesive communities. |
| JEL: | D63 I25 |
| Date: | 2026–04 |
| URL: | https://d.repec.org/n?u=RePEc:nbr:nberwo:35161 |
| By: | Soares, Sergei,; Sgroi, Silvia, |
| Abstract: | This working paper analyses how labour earnings inequality evolved across 25 countries between 1995 and 2023 using harmonized microdata and multiple inequality measures. It compares changes in the distribution of labour earnings within countries and aggregates them to examine broader global patterns over time. |
| Keywords: | wage differential, income, economic disparity |
| Date: | 2026 |
| URL: | https://d.repec.org/n?u=RePEc:ilo:ilowps:995693572902676 |
| By: | Eric Hillebrand |
| Abstract: | Heinsohn and Steiger's "Eigentum, Zins und Geld" (1996) proposes the property premium as the foundational determinant of interest, replacing time preference. This paper examines whether the replacement succeeds. It does not. The two arguments against time preference, the savings-inelasticity claim after Hahn and the portfolio-shift claim after Keynes, both fail on standard microeconomic grounds. With time preference intact, the property premium sits within the standard decomposition of the interest rate. In ordinary collateralized credit it coincides with the risk premium. Only when the lender is a money-issuing bank with a real redemption obligation does a third term enter the decomposition that standard asset-pricing theory does not articulate. That third term is Heinsohn and Steiger's genuine contribution. The paper discusses its apparent disappearance or disguised operation after 2008, and the circularity of a property anchor measured in money. |
| Date: | 2026–04 |
| URL: | https://d.repec.org/n?u=RePEc:arx:papers:2604.24489 |
| By: | Steffen Böhm (University of Exeter); Premilla D’cruz (IIM Ahmedabad - Indian Institute of Management Ahmedabad); Ernesto Noronha (IIM Ahmedabad - Indian Institute of Management Ahmedabad); Konan A. Seny Kan (EM - EMLyon Business School); Baniyelme Zoogah (McMaster University [Hamilton, Ontario]) |
| Abstract: | This curated essay collection examines the structural and material intersections between business, violence, and ethical responsibility. Bringing together diverse perspectives, the essays collated here challenge the tendency within business ethics to treat violence as external to economic activity or as a purely political phenomenon. Instead, the contributions reveal how firms, markets, and organizational practices are deeply entangled in systems of structural violence. The essays address corporate reporting and infrastructural injustice in water governance, the political economy of conflict and resource extraction in Africa, the ethical dimensions of food-related violence, from starvation to food waste, and the moral responsibilities of business ethics scholars confronting violence within postcolonial contexts. This essay collection is an intervention; it calls for an expansion of business ethics scholarship to confront silences surrounding structural and material violence and to engage more directly with questions of power, complicity, and ethical responsibility in contemporary global systems marked by severe injustices. |
| Keywords: | Business of violence, Ehtical responsibility, Complicity, Food-related violence, Conflict economies, Corporate reporting, Structural violence |
| Date: | 2026–04–01 |
| URL: | https://d.repec.org/n?u=RePEc:hal:journl:hal-05603060 |
| By: | Padmashree Gehl Sampath (Harvard Kennedy School); Oner Tulum (Academic-Industry Research Network); William Lazonick (Academic-Industry Research Network) |
| Abstract: | Every year, millions of preventable deaths in the Global South could be averted with timely access to affordable medicines. While achieving equitable pharmaceutical access is widely recognized as a critical global health challenge, the mechanisms for doing so remain contested. Prevailing debates focus narrowly on reconciling R and D incentives with access, overlooking deeper structural and political determinants. This paper argues that the misalignment between innovation incentives and public health needs is a systemic outcome of an innovation regime in which large pharmaceutical corporations allocate resources based on financialized business models designed to maximize shareholder value (MSV). We term this "predatory value extraction" (PVE) governance and argue that addressing the access challenge requires structural reform oriented toward "progressive value creation" (PVC) governance as its antithesis. The paper surveys the structural shortcomings behind persistent medicine access gaps in the Global South, then examines how PVE governance has undermined governments, international agencies and other stakeholders working on access initiatives. By tracing the financing of global health initiatives, we show how fragmentation, limited coordination, and donor funding dependencies entrench PVE-driven agenda-setting and exacerbate misaligned priorities in global health. We conclude by outlining steps that policymakers can take to shift the pharmaceutical industry's dominant corporate governance model from PVE toward PVC. |
| Keywords: | innovation, access to medicines, Global South, pharmaceutical industry, corporate governance, progressive value creation, predatory value extraction, global health ecosystem |
| JEL: | D4 F5 F6 G3 I1 L2 L3 L5 O3 |
| Date: | 2026–03–22 |
| URL: | https://d.repec.org/n?u=RePEc:thk:wpaper:inetwp246 |
| By: | Rajashri Chakrabarti; Thu Pham; Beckett Pierce; Maxim L. Pinkovskiy |
| Abstract: | In our companion post, we used a new module of our Economic Heterogeneity Indicators (EHIs) to shed light on how recent retail spending growth has been driven by high-income households. This fact is consistent with the popular press’s idea of a “K-shaped economy” in which higher-income households experience faster growth in spending than lower-income households. In this post, we dive deeper into the reasons behind this divergence by analyzing for which goods this trend holds true and ask whether it can be explained by changes in wages, inflation, or wealth. We find that, since 2023, wealth has increased the most for high-income households, while inflation has risen the most for low-income households, with both factors helping explain the fact that real retail spending rose the most for high-income households. In contrast, earnings display a more mixed pattern, though earnings of the highest earners have grown more rapidly than earnings of the lowest earners. |
| Keywords: | K-shaped economy; Economic Heterogeneity Indicators (EHIs); inequality; heterogeneity; Numerator |
| JEL: | D1 D3 E21 E24 H0 |
| Date: | 2026–05–01 |
| URL: | https://d.repec.org/n?u=RePEc:fip:fednls:103169 |
| By: | Christopher Cotton (Queen's University) |
| Abstract: | The correlation between student effort and performance can encourage the belief that underperforming students lack motivation. Yet educational theory suggests that even students who want to learn may disengage when they lack the foundational skills, instructional alignment, resources, or support needed to succeed. Recent causal evidence suggests that students from lower-income and historically marginalized backgrounds are not, on average, less willing to work, but struggle more to convert effort into progress. This essay argues that viewing effort and performance gaps through an opportunity-to-learn lens helps explain the inconsistent effects of motivation interventions, weak links between time use and achievement, and persistent learning gaps. Motivating students is not enough; schools must ensure that effort leads to learning. |
| Keywords: | Education, Learning Science, Motivation, Opportunity to Learn |
| JEL: | I2 |
| Date: | 2026–04 |
| URL: | https://d.repec.org/n?u=RePEc:qed:wpaper:1543 |