scholarly journals Economic and Emotional Rationality: An Application to Wealth Concentration

2013 ◽  
Vol 03 (04) ◽  
pp. 233-244
Author(s):  
Jose Rigoberto Parada-Daza ◽  
Miguel Ignacio Parada-Contzen
Keyword(s):  
Wealth Concentration ◽  
Emotional Rationality

scholarly journals The Impact of Single-Family Rental REITs on Regional Housing Markets: A Case Study of Nashville, TN

Societies ◽  
2018 ◽  
Vol 8 (4) ◽  
pp. 93 ◽  
Author(s):  
Ken Chilton ◽  
Robert Silverman ◽  
Rabia Chaudhrey ◽  
Chihaungji Wang
Keyword(s):  
Real Estate ◽  
Census Data ◽  
Housing Markets ◽  
Future Research ◽  
Individual Investors ◽  
Single Family ◽  
Real Estate Investment ◽  
Wealth Concentration ◽  
The Impact ◽  
The U.S

The U.S. Congress authorized the creation of real estate investment trusts (REITs) in 1960 so companies could develop publically traded real estate investment portfolios. REITs focus on commercial property, retail property, and rental property. During the last decade, REITs became more active in regional housing markets across the U.S. Single-family rental (SFR) REITs have grown tremendously, buying up residential properties across the country. In some regional housing markets, SFR REITs own noticeable shares of single-family homes. In those settings, SFR REITs take large numbers of housing units off of real estate markets where homeownership transactions occur and manage these properties as part of commercial rental inventories. This has resulted in a new category of multiple property owners, composed of institutional investors as opposed to individual investors, which further exacerbates property wealth concentration and polarization. This study examines the socio–spatial distribution of properties in SFR REIT portfolios to determine if SFR REIT properties tend to cluster in distinct areas. This study will focus on the regional housing market in Nashville, TN. Nashville has one of the most active SFR REIT sectors in the country. County tax assessor records were used to identify SFR REIT properties. These data were joined with U.S. Census data to create a profile of communities. The data were analyzed using SPSS statistical software and GIS software. Our analysis suggests that neighborhoods with clusters of SFR REITs fit the SFR REIT business model. Clusters occur in communities with newer homes, residents with higher levels of educational attainment, and middle to upper-middle incomes. The paper concludes with several recommendations for future research on SFR REITs.

From crisis to crisis: Capitalism, chaos and constant unpredictability

2018 ◽  
Vol 29 (4) ◽  
pp. 375-393 ◽  
Author(s):  
Anis Chowdhury ◽  
Piotr Żuk
Keyword(s):  
Financial Crises ◽  
Multinational Corporation ◽  
Global Financial Crisis ◽  
National Income ◽  
World Order ◽  
Economic Governance ◽  
Bretton Woods ◽  
Root Cause ◽  
Wealth Concentration ◽  
Governance Architecture

Far from being an event of a decade ago, the 2008 global financial crisis is a manifestation of an ongoing crisis of the world order, with social, political and ecological dimensions that cannot be seen separately from each other. The root cause of the crisis can be traced back to the collapse of the Bretton Woods System in August 1971, and the failure to design an equitable and inclusive global financial and economic governance architecture consistent with the changed global economic realities. The vacuum was quickly taken up by the neoliberal orthodoxy that pushed the agenda of wholesale liberalisation, resulting in unprecedented domination of speculative finance capital and multinational corporation–led globalisation. This has seen falling share of wages in national income, growing wealth concentration, rising income inequality and ballooning of household debts. The consequence was frequent and increasingly deeper and wider financial crises.

scholarly journals A Third Sector-Led Economic Model: Scopes of Islamic Entrepreneurship

2019 ◽  
Author(s):  
Md. Mahmudul Alam ◽  
Rafiqul Islam Molla
Keyword(s):  
Social Justice ◽  
Economic Model ◽  
Third Sector ◽  
Social Enterprises ◽  
Welfare Programs ◽  
For Profit ◽  
Wealth Concentration ◽  
Social Welfare Programs ◽  
Not For Profit ◽  
Market State

Private (first sector) and public (second sector) sector economics, both individually and jointly, have failed to ensure the wellbeing of human societies on the national and global levels. In response, social enterprise (third sector) economics, which features cooperatives and not-for-profit social enterprises, foundations (awqāf), and similar undertakings, has emerged as a make-up strategy in an attempt to counter the deficiencies of the market-state economic model. However, there is a strongly felt belief that the third sector needs to be broadened and mainstreamed in order to include both not-for-profit and for-profit businesses blended with social justice (via provision of such social welfare programs as corporate social responsibility) so that they can play a major role in poverty alleviation and economic growth. Islamic entrepreneurship, which is basically a community-centric mode of business initiative, is an antidote to the problem of intolerable economic and social dualism, a natural strategy against all forms of capitalist exploitation and attempts to control a nation’s resources. Moreover, it is the natural model for solving economic inequity, wealth concentration, and social divides. Based on its potential and using examples from Bangladesh and Malaysia, we present the Islamic style of entrepreneurship. We contend that this particular style is the most efficient and desirable one for effectively widening and mainstreaming community-centric third sector economics so that it can ensure development with equity and social justice especially in developing countries.

Family ownership and cooperative R&D: the moderating effect of political ties

2021 ◽  
Vol ahead-of-print (ahead-of-print) ◽  
Author(s):  
Feng Dong ◽  
Xiao Wang ◽  
Jiawen Chen
Keyword(s):  
Family Firms ◽  
Family Ownership ◽  
Content Type ◽  
Political Ties ◽  
Wealth Concentration ◽  
The Impact ◽  
The Relationship ◽  
Moderating Role ◽  
Ability And Willingness

Purpose This study aims to investigate the impact of family ownership on cooperative research and development (R&D). Drawing on the ability and willingness paradox framework in family business research, the authors suggest that family ownership influences cooperative R&D via two opposing mechanisms: power concentration and wealth concentration. It also deepens the current understanding of the boundary conditions of informal institutions for the impact of family ownership on cooperative R&D by investigating the moderating role of political ties. Design/methodology/approach The authors analyze a panel of 610 Chinese manufacturing family firms and 2,127 firm-year observations from 2009 to 2017. Fixed effects regression analysis is used to test the hypotheses, with the two-stage Heckman model to address sample selection bias. Findings The research findings indicate that family ownership has an inverted U-shaped relationship with cooperative R&D and political ties moderate the relationship in such a way that the inverted U-shaped relationship will be steeper in firms with more political ties than in firms with fewer political ties. Practical implications Family ownership influences firms’ cooperative R&D through the positive effect of power concentration and the negative effect of wealth concentration. Family owners should, therefore, take advantage of concentrated power, for instance, by adapting quickly and committing sufficient resources to cooperative R&D opportunities, while controlling path-dependent relationship development caused by concentrated family wealth. The effect of political ties on the relationship between family ownership and cooperative R&D is found to be a double-edged sword. Originality/value This study extends the ability and willingness paradox framework and provides novel insights into cooperative R&D in family businesses by integrating power concentration and wealth concentration associated with family ownership. Moreover, this study provides a contingency perspective and introduces the moderating role of political ties in shaping cooperative R&D in family firms.

From Information Society to Community Service

2016 ◽  
pp. 101-123
Author(s):  
Benedito Medeiros Neto
Keyword(s):  
Social Movements ◽  
Community Service ◽  
Information Society ◽  
Industrial Society ◽  
Daily Lives ◽  
Human Relationships ◽  
Wealth Concentration ◽  
Ict Tools ◽  
Operational Processes ◽  
Post Industrial

This chapter presents a perspective of a post-industrial society, through the development of the information society and its deployment, focusing on the possibilities of a service predominant society. The most important point of this exercise is that this approach did not happen as expected in form or time. In the past, the ICT tools were restricted to centers of competence or in organizations. Nowadays, their increasingly presence in individual lives, as well as in their human relationships, is changing social and commercial relations, the meaning of work and political participation of people in a compulsory way, unlike what had happened at the turn of agricultural to industrial Eras. New possibilities happen in a rapid manner in a society based on wealth concentration, when there is association of ICTs with the restlessness of social movements or collective protests demanding better living conditions of minority communities. The increasing information flows have led to the desire of knowledge. However, this search for the social welfare achievements has occurred in a superficial manner, leading to anxiety and depression of common and deprived citizens. A new Citizenship or, better defined, e-Citizenship emerges between their aspirations. Based on facts and observations of recent research on the impacts of ICTs in the last ten years, the approach of a community service changes the daily lives of individuals, despite its acceptance or perception, the presence of virtual media, the growing media innovation and agricultural, industrial and operational processes, as well as the claimed social movements.

Wealth concentration

2021 ◽  
pp. 40-50
Author(s):  
Benedict Atkinson
Keyword(s):  
Wealth Concentration

Natural Limits of Wealth Inequality and the Effectiveness of Tax Policy

2017 ◽  
Vol 47 (1) ◽  
pp. 32-57
Author(s):  
Scott S. Condie ◽  
Richard W. Evans ◽  
Kerk L. Phillips
Keyword(s):  
General Equilibrium ◽  
Income Tax ◽  
Wealth Inequality ◽  
Wealth Accumulation ◽  
Rates Of Return ◽  
Unbalanced Growth ◽  
Wealth Concentration ◽  
Savings Rate ◽  
Wealth Tax ◽  
Growth Differences

This article examines Thomas Piketty’s thesis that there are no natural limits on the accumulation of wealth. We undertake our examination in the context of a simple general equilibrium model with infinitely lived dynasties. We show that extreme wealth accumulation does not happen in general equilibrium unless capital and labor are substitutes, an assumption which also leads to unbalanced growth. We also show that even with unbalanced growth, differences in rates of return and effective labor are not sufficient to cause unbounded inequality. Only permanent savings rate differences can lead to extreme wealth concentration. Finally, we show that while a flat wealth tax will not eliminate extreme wealth concentration, both a graduated wealth tax and a flat income tax will.

Argentina: The Philosophical Resistance to the Conquest of the Soul1

2019 ◽  
pp. 159-176
Author(s):  
Enrique Del Percio
Keyword(s):  
Trade Union ◽  
Developed Countries ◽  
Cultural Transformation ◽  
Homo Economicus ◽  
Coup D'etat ◽  
Wealth Concentration ◽  
Fundamental Value ◽  
National Industry ◽  
Structural Poverty ◽  
The Individual

In 1976, a terrible dictatorship was established in Argentina, even before Foucault claimed with crystal clarity that the fundamental difference between classical liberalism and neoliberalism was the substitution of the homo economicus −related to the exchange− by the homo economicus as entrepreneur of himself (lecture delivered on 14 March 1979); and also before Margaret Thatcher (in Ronald Butt’s interview, Sunday Times, 3 May 1981) confirmed Foucault´s analysis stating that: “Economics are the method; the object is to change the heart and soul”. In the same year, Milton Friedman received the Nobel Prize in Economics. The explicit purpose of the Military Junta was to promote a profound cultural transformation, based on the premise that the causes of the alleged “underdevelopment” were not so much economical but cultural and political. Nevertheless, as García Delgado and Molina (2006) pointed out, the problem is not related to a sort of inevitable structural poverty, due to the culture of our people. It is a matter of a decline in society, produced by the policy orientation of the dictatorship. Until then, the income distribution was similar to that of the countries from the Southern Europe with an almost frictional unemployment. Until the coup d’état, Argentina had a poverty rate of 8% and the best distributive structure of income in Latin America. However, 1976 was a turning point; the surge of the neoliberal model promoted a process of over-indebtedness, wealth concentration, unrestricted opening of markets with an unfavourable exchange rate for national industry, labour flexibilization, with the insertion in a competitive globalization of “savage capitalism” that “strengthened the asymmetries and transfers of resources from the periphery to the centre. This concept differs from thinking about inequality as a problem related to culture, corruption and poor institutional quality” (García Delgado, 2006).Despite the overwhelming adverse evidence, it is still a commonplace to blame all the ills of our society on that culture, the maximum expression of which would be Peronism. In fact, the great majority of disappeared people during the dictatorship were Peronist political, trade union and social leaders. The motto of the Ministry of Economics during the dictatorship was “towards a change of mentality”. The current Argentine situation, in terms of advances of neoliberalism as well as resistances to it, cannot be understood without referring to the dictatorship. In Poratti words, “the coup d’état of 1976 does not only put an end to a government, a political system and project, but also to a 'world' in which Argentinians were living at least from the independence project of 1810. In those days, there was not an abrupt differentiation between generations and, in many aspects, people could identify themselves, diachronically, with a historical line beyond the particular generational characteristics” (Various Authors, 2009).These aspects go along with others that appeared in other areas, such as the implementation of new computer and communication technologies and, as a consequence, individual and social fragmentation. The impact of these technologies on daily life was decisive to the emergence of what some authors, like Sloterdijk (2002), called “mass individualism.” No doubt, this is a necessary aspect to explain the rise of the neoliberal subjectivity in developed countries. Yet, in Argentina, the existence of political, social, trade-union and ecclesiastical movements based on popular roots, with solidarity as a fundamental value, hampered the conquest of the “heart and soul” in 1976; and they are still now an obstacle to be overcome by sectors interested in imposing a neoliberal model. It is impossible to explain any isolated phenomenon of popular resistance to the hegemonic attempts from neoliberalism without analysing the common conceptions and understandings found in Argentina. Indeed, the popular culture substrate in Argentina is made up, mainly, by the confluence of different cultures: Andean, Guaraní Indians, Afro and Criollo (native). All of them are characterized by their relational and solidarity conceptions, intrinsically opposed to a subjectivity that conceives the individual as an entrepreneur of himself/herself.

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