scholarly journals Some Major Causes of Current Economic Crises and Leadership Strategies

2010 ◽  
Author(s):  
Asım Şen
Keyword(s):  
Economic Growth ◽  
Wealth Distribution ◽  
Economic Inequality ◽  
Wealth Inequality ◽  
Shared Vision ◽  
Leadership Strategies ◽  
Economic Crises ◽  
The People ◽  
Education And Employment ◽  
Sustainable Economic Growth

This paper argues that economic inequality is one of the major causes of the current economic crises and provides some appropriate leadership strategies for solving them. Inequality is defined as unequal opportunities for economical activities among the people of a nation and among the nations of the world. The major cause of most current economic crises is the income and wealth inequality which are generated mainly by the economic growth. Leaders in the past and currently could not utilize appropriate strategies to solve the inequality problems and consequently the economic crisis grew and reached the current levels. In order to solve the current economic crises it is necessary to eliminate the economic inequality problems and establish fair and sustainable economic growth. The leadership strategies play crucial role for this process. These strategies included in this paper are establishing the local and global shared vision for all; balancing the income and wealth distribution; providing the equal opportunities for education and employment; sharing the production and consumption; and maintaining the fair and sustainable globalization and economic growth.

Economic Growth, Wealth and Wealth Inequality in Asia before, during and after the Global Financial Crisis

2019 ◽  
Vol 47 (4-5) ◽  
pp. 459-483
Author(s):  
Jenny Chesters
Keyword(s):  
Economic Growth ◽  
Hong Kong ◽  
East Asia ◽  
Global Financial Crisis ◽  
Wealth Distribution ◽  
Wealth Inequality ◽  
Living Standards ◽  
Rapid Expansion ◽  
The World Bank ◽  
The Global Financial Crisis

Abstract Although economic growth is regarded as an indicator of the success of an economy and, therefore, an indicator of rising living standards, there is no guarantee that living standards will improve for all members of society unless the benefits derived from economic growth are shared equally. If the wealth generated by economic growth accrues to those at the top of the wealth distribution, levels of inequality will increase. In this paper, I use publicly available data from the World Bank, Credit Suisse, and Forbes Magazine for 11 countries in East Asia/ South East Asia: Cambodia, China, Hong Kong, Japan, Laos, Malaysia, Singapore, South Korea, Taiwan, Thailand, and Vietnam, to examine whether increases in GDP/capita were accompanied by increases in wealth/adult and levels of wealth inequality between 2000 and 2016. In China, Hong Kong, and Vietnam, wealth inequality increased substantially despite, or perhaps due to, the rapid expansion of their economies. In other words, it would appear that the rising tide lifted some boats but swamped others.

scholarly journals Effect of Savings on a Gas-Like Model Economy with Credit and Debt

Entropy ◽  
2021 ◽  
Vol 23 (2) ◽  
pp. 196
Author(s):  
Guillermo Chacón-Acosta ◽  
Vanessa Ángeles-Sánchez
Keyword(s):  
Economic Growth ◽  
Partition Function ◽  
Statistical Physics ◽  
Wealth Distribution ◽  
Economic Inequality ◽  
Economic Literature ◽  
Payment Methods ◽  
Income And Wealth Distribution ◽  
Ensemble Formalism

In kinetic exchange models, agents make transactions based on well-established microscopic rules that give rise to macroscopic variables in analogy to statistical physics. These models have been applied to study processes such as income and wealth distribution, economic inequality sources, economic growth, etc., recovering well-known concepts in the economic literature. In this work, we apply ensemble formalism to a geometric agents model to study the effect of saving propensity in a system with money, credit, and debt. We calculate the partition function to obtain the total money of the system, with which we give an interpretation of the economic temperature in terms of the different payment methods available to the agents. We observe an interplay between the fraction of money that agents can save and their maximum debt. The system’s entropy increases as a function of the saved proportion, and increases even more when there is debt.

scholarly journals The effects of taxes on wealth inequality in Artificial Chemistry models of economic activity

PLoS ONE ◽  
2021 ◽  
Vol 16 (8) ◽  
pp. e0255719
Author(s):  
Wolfgang Banzhaf
Keyword(s):  
Economic Activity ◽  
Wealth Distribution ◽  
Economic Inequality ◽  
Wealth Inequality ◽  
Artificial Chemistry ◽  
Activity Models

We consider a number of Artificial Chemistry models for economic activity and what consequences they have for the formation of economic inequality. We are particularly interested in what tax measures are effective in dampening economic inequality. By starting from well-known kinetic exchange models, we examine different scenarios for reducing the tendency of economic activity models to form unequal wealth distribution in equilibrium.

An Analysis of ‘Operation Phakisa’ to Unlock the Potential of Ocean Resources in South Africa

2020 ◽  
pp. 002190962092188
Author(s):  
Kola Sola Odeku
Keyword(s):  
Economic Growth ◽  
South Africa ◽  
Contemporary Literature ◽  
Sustainable Use ◽  
Research Approach ◽  
Full Potential ◽  
Goods And Services ◽  
The People ◽  
Economic Goods ◽  
Sustainable Economic Growth

South Africa is endowed with vast ocean resources and wealth which have the potential to provide enormous socio-economic goods and services to the people and create massive economic growth and wealth if vigorously explored and tapped. This assertion is made against the backdrop of the recent government strategical initiative, under the auspices of ‘Operation Phakisa’, to unlock and explore the full potential of the ocean’s wealth to drive economic growth, create jobs and alleviate poverty. This paper seeks to accentuate that the Operation Phakisa initiative has the potential to strategically unlock underexplored ocean resources for purposes of creating sustainable economic growth, development, and alleviation of hunger and poverty. It concludes that effective and sustainable use of the ocean’s wealth depends on good, efficient governance policies, practices and management. Methodically, a qualitative non-empirical research approach was adopted and utilized in this study by sourcing, drawing upon and using information and insights from contemporary literature to address identified problems.

Developing Countries, Economic Development, and Markets

2019 ◽  
pp. 3-8
Author(s):  
Eleanor M. Fox ◽  
Mor Bakhoum
Keyword(s):  
Economic Growth ◽  
Developing Countries ◽  
Economic Development ◽  
Poverty Line ◽  
State Ownership ◽  
Sub Saharan Africa ◽  
The People ◽  
Vested Interests ◽  
Sub Saharan ◽  
Sustainable Economic Growth

This chapter discusses economic development and markets in developing countries, with a focus on sub-Saharan Africa. Developing countries, especially lower-income developing countries with low rates of growth, share key characteristics and challenges. Huge portions of their populations live below the poverty line. The markets are generally highly concentrated with high barriers to entry, and state ownership—with privileges granted by the state—is pervasive. In order to provide the people with the necessities of life, developing countries need economic growth; in order to provide equity and spur development, they need inclusive, sustainable economic growth, consistent with equity. The chapter then describes two forms of market policy: antitrust law, which prohibits and removes restraints by market actors who engage in harmful conduct such as conspiracies to raise prices and bar entry by competitors, and surrounding restraints that are not violations of law but do the same thing: raise prices, barricade entry, and favor vested interests.

scholarly journals Resources Efficiency Based on Village-Fund for Local Economic Development

2021 ◽  
Vol 04 (01) ◽  
Author(s):  
I Putu Gede Diatmika ◽  
Keyword(s):  
Economic Growth ◽  
Economic Development ◽  
Local Community ◽  
Agricultural Sector ◽  
Local Economic Development ◽  
Women Farmers ◽  
Family Welfare ◽  
The People ◽  
The Government ◽  
Sustainable Economic Growth

Local economic development to achieve increased welfare, encourage economic growth through the use of village funds. One of the villages that needs to be developed is Panji Village, Buleleng Regency. The local community has local potential and resources, most of the people work in the agricultural sector, so in order to optimize the use of village funds, the community has the potential and resources to develop local economies based on village funds in creating sustainable economic growth. Through the use of village funds in Panji Village, the government and the community develop water facilities between the rice fields with the aim of increasing community income and boosting tourism in Panji Village. The domino effect can help products in Panji Village starting from organic rice and products from Family Welfare Empowerment through Panji Village's Women Farmers Group (Kelompok Wanita Tani; KWT) such as Sari Jahe Merah, Panji Herbal Sari Temulawak, Tamba Waras Sari Kunyit and Tamba Sane Sari Rhizome

scholarly journals AN EMPIRICAL INVESTIGATION OF THE RELATIONSHIP BETWEEN POLITICAL SYSTEM AND ECONOMIC GROWTH IN POOR COUNTRIES LIKE PAKISTAN

2020 ◽  
Vol 5 (2) ◽  
pp. 197-201
Author(s):  
Muhammad Meraj ◽  
Ghulam Rasool Lakhan
Keyword(s):  
Economic Growth ◽  
Political Institutions ◽  
Military Establishment ◽  
Roller Coaster ◽  
Poor Countries ◽  
Political Situation ◽  
The People ◽  
Sustainable Economic Growth ◽  
The Military ◽  
The Relationship

Pakistan is an Islamic republic country where political situation is always on a roller coaster drive. The rivalry for dominance between military establishment and politicians negatively affected the ailing economy. Being a developing country, political institutions are not strong enough to handle a bumpy ride of governance. Politicians as well as the people of Pakistan always look forward towards military in both political and non-political disasters. In this context, we tried to unveil the relationship between the style of governance and development in this paper. Our results indicate that economic growth was much higher in non-democratic governments. Also, it shows the importance of institutional strength for the development of any country because the military is one of the strongest institutions in Pakistan. It is proposed that other sociopolitical institutions must get strength just like our military and work together to achieve sustainable economic growth that is a main ingredient of development for any country.

scholarly journals PERSAINGAN, GESEKAN, DAN PERTUMBUHAN PARIWISATA: STUDI KASUS KINAHREJO

KRITIS ◽  
2017 ◽  
Vol 26 (1) ◽  
pp. 22-46
Author(s):  
Andeka Rocky Tanaamah ◽  
Titi Susilowati Prabawa ◽  
Neil Semuel Rupidara
Keyword(s):  
Economic Growth ◽  
Local Communities ◽  
Sand Mining ◽  
Dark Tourism ◽  
Local Resources ◽  
The People ◽  
Tourism Resources ◽  
The Government ◽  
Sustainable Economic Growth

Tourism is a potential economic sector that contributes to more sustainable economic growth. Not only focusing on economic growth, tourism has also been proven in improving livelihoods as well as increasing benefits for local communities. Tourism can however be a field of rivalry or tension in the society. This article aims to analyse rivalry and clash happen among tourism actors and other elements of the society in Kinahrejo, also with government, which is caused by the growth of tourism in Kinahrejo. Emerging dark tourism in Kinahrejo has stimulated the growth of relevant businesses. However,the growth of tourism has also led to competition and friction in the management of local resources. This study looks at three forms of friction that occur in the management of Kinahrejo tourism assets. First, friction between the tourism actors in Kinahrejo caused by the desire to control the tourism resources. Second, friction between tourism business and stone sand mining business, caused by the lucrative offer of income. Third, friction with the government related to the relocation policy of the people of kinahrejo to a safer place and avoid the eruption of Mount Merapi. Completion of friction is done by optimizing the role of the community association in facilitating relationships between the various groups involved in tensions.

HUKUM DAN TEKLOGI SUATU KAJIAN TEORITIS TERHADAP PENOMENA LAYANAN TRANSFORTASI ONLINE

2017 ◽  
Vol 6 (1) ◽  
pp. 20
Author(s):  
Aria Dimas Harapan
Keyword(s):  
Economic Growth ◽  
Theoretical Study ◽  
Legal Protection ◽  
Creative Economy ◽  
Legal Certainty ◽  
The People ◽  
The Government ◽  
The Times

ABSTRACTThe essence of this study describes the theoretical study of the phenomenon transfortation services online. Advances in technology have changed the habits of the people to use online transfortation In fact despite legal protection in the service based services transfortation technological sophistication has not been formed and it became warm conversation among jurists. This study uses normative juridical research. This study found that the first, the Government must accommodate transfotation online phenomenon in the form of rules that provide legal certainty; second, transfortation online as part of the demands of the times based on technology; third, transfortation online as part of the creative economy for economic growth . 

Impacts of Environmental Regulation on Sustainable Economic Growth

2018 ◽  
Vol 9 (9) ◽  
pp. 749-773
Author(s):  
Jonathan Fisher
Keyword(s):  
Economic Growth ◽  
Environmental Regulation ◽  
Technical Change ◽  
Best Practice ◽  
Environmental Regulations ◽  
The European Union ◽  
Porter Hypothesis ◽  
The United Kingdom ◽  
Environment Agency ◽  
Sustainable Economic Growth

There is considerable concern and debate about the economic impacts of environmental regulations. Jonathan Fisher, former Economics Manager at the Environment Agency in England and Wales, reviews the available evidence on this subject. Section 2 presents estimates of the costs and benefits of environmental regulations. Section 3 examines the impacts of environmental regulations on economic growth, innovation and technical change as well as impacts on competitiveness and any movement of businesses to less pollution havens. He questions call for greater certainty regarding future environmental regulations, whereas in fact there should be calls for less uncertainty. This section then suggests how this could be achieved. This section then finishes with an overview of the available evidence. This includes an examination of the Porter Hypothesis that environmental regulations can trigger greater innovation that may partially or more than fully offset the compliance costs. Section 4 then sets out principles for how better environmental regulation can improve its impacts on sustainable economic growth and illustrates how the European Union (EU) Water Framework Directive is a good example of the application of these principles in practice. Section 5 reviews current and recent political perspectives regarding developments in environmental regulations across the EU and shows how the United Kingdom (UK) has successfully positively managed to influence such developments so that EU environmental regulations now incorporate many of these principles to improve their impacts on economic growth. Section 5.1 then examines the implications of Brexit for UK environmental regulations. Finally, Section 6 sets out some best practice principles to improve the impacts of environmental regulation on sustainable economic growth, innovation and technical change.

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