scholarly journals On Some Important Ordinary Differential Equations of Dynamic Economics

2021 ◽  
Author(s):  
Anastasios Tsoularis
Keyword(s):  
Mathematical Modeling ◽  
Economic Growth ◽  
Economic Theory ◽  
Differential Equations ◽  
Analytical Solutions ◽  
Second World War ◽  
Economic Modeling ◽  
World War ◽  
Second World ◽  
Deterministic Setting

Mathematical modeling in economics became central to economic theory during the decade of the Second World War. The leading figure in that period was Paul Anthony Samuelson whose 1947 book, Foundations of Economic Analysis, formalized the problem of dynamic analysis in economics. In this brief chapter some seminal applications of differential equations in economic growth, capital and business trade cycles are outlined in deterministic setting. Chaos and bifurcations in economic dynamics are not considered. Explicit analytical solutions are presented only in relatively straightforward cases and in more complicated cases a path to the solution is outlined. Differential equations in modern dynamic economic modeling are extensions and modifications of these classical works. Finally we would like to stress that the differential equations presented in this chapter are of the “stand-alone” type in that they were solely introduced to model economic growth and trade cycles. Partial differential equations such as those which arise in related fields, like Bioeconomics and Differential Games, from optimizing the Hamiltonian of the problem, and stochastic differential equations of Finance and Macroeconomics are not considered here.

scholarly journals Taming the Expellee Threat in Post–1945 Europe: Lessons from the Two Germanies and Finland

2005 ◽  
Vol 14 (1) ◽  
pp. 1-21 ◽  
Author(s):  
PERTTI AHONEN
Keyword(s):  
Economic Growth ◽  
Cold War ◽  
Second World War ◽  
West Germany ◽  
Social Changes ◽  
Integration Process ◽  
World War ◽  
Forced Migrants ◽  
The Cold War ◽  
Second World

This article analyses the process through which the dangers posed by millions of forced migrants were defused in continental Europe after the Second World War. Drawing on three countries – West Germany, East Germany and Finland – it argues that broad, transnational factors – the cold war, economic growth and accompanying social changes – were crucial in the process. But it also contends that bloc-level and national decisions, particularly those concerning the level of autonomous organisational activity and the degree and type of political and administrative inclusion allowed for the refugees, affected the integration process in significant ways and helped to produce divergent national outcomes.

scholarly journals Nature conservation as a resource for tourism

Koedoe ◽  
1977 ◽  
Vol 20 (2) ◽  
Author(s):  
T.C. Owen
Keyword(s):  
Economic Growth ◽  
Nature Conservation ◽  
Second World War ◽  
International Tourism ◽  
World War ◽  
International Tourist ◽  
Domestic Tourism ◽  
Second World

The spectacular development in air technology during and since the Second World War, and a parallel economic growth, have been responsible for a tremendous increase in international tourist statistics, making tourism the world's largest industry. For the sake of clear international definition, a tourist is regarded as a person who visits a country other than his country of normal residence, for any reason other than being gainfully employed within the country he visits. During 1975 such tourist arrivals numbered 213 million, and the receipts from international tourism amounted to US $32 000 million. Domestic tourism also plays an important role in most countries. It is the rule rather than the exception that the local tourist creates the demand for the development of amenities, which can then cater for the tourist from abroad.

scholarly journals Revisiting Samuelson's Foundations of Economic Analysis

2015 ◽  
Vol 53 (2) ◽  
pp. 326-350 ◽  
Author(s):  
Roger E. Backhouse
Keyword(s):  
Economic Theory ◽  
Economic Analysis ◽  
Second World War ◽  
World War ◽  
Second World

Paul Samuelson's Foundations of Economic Analysis played a major role in defining how economic theory was undertaken for many years after the Second World War. This paper fills out Samuelson's account of the book's origins and corrects some details, making clear his debt to E. B. Wilson and establishes that turning the thesis into a book was a long process. The contents of the book and its reception are then reviewed. ( JEL A22, B20, B31)

The Draft Development Plan of the Federation of Malaya 1950–55

1972 ◽  
Vol 3 (1) ◽  
pp. 63-96 ◽  
Author(s):  
Martin Rudner
Keyword(s):  
Economic Growth ◽  
World Bank ◽  
Functional Integration ◽  
Geographic Region ◽  
Second World War ◽  
Uneven Development ◽  
World War ◽  
British Colonial ◽  
Colonial Government ◽  
Second World

Malaya's creditable economic performance prior to the Second World War was very much the product of growth without planning. It would be a mistake, to be sure, to attribute early Malayan economic growth solely to the initiative and enterprise of private individuals and firms acting independently of government. Certainly the British colonial administration, indirectly through fiscal measures and directly through the activities of an increasingly important public sector, had a significant role to play in determining the direction, and incidentally the magnitude, of pre-war economic expansion. Colonial government policy nevertheless remained compartmentalized and its objectives were defined narrowly. There was no idea of maximizing the development of Malaya's economy as a whole. Indeed, the Malayan economy during the decades before the War even lacked fundamental functional integration, for in the words of a World Bank mission, “… Malaya in many respects was rather a geographic region where capital and labor belonging to other economies found it convenient to carry on certain specialized operations, within the British monetary as well as political framework”. Whatever economic growth that did occur involved unplanned, and largely uneven, development.

Economic theory and economic history (1929) WERNER SOMBART (1863–1941)

2006 ◽  
Vol 2 (1) ◽  
pp. 109-125 ◽  
Keyword(s):  
Economic Theory ◽  
Economic History ◽  
Second World War ◽  
World War ◽  
Historical School ◽  
Werner Sombart ◽  
Second World

Werner Sombart was a leading member of the German historical school in the later decades of its existence. This movement is conventionally divided into two: the ‘older historical school’ beginning with Wilhelm Roscher (1817–1894) and others in the 1840s, and the ‘younger historical school’ beginning with Gustav Schmoller (1838–1917) in the 1880s. The German historical school lasted until the devastations of the Nazi period and the Second World War.

scholarly journals Rethinking Everything: A sustainable economic system requires radical change in almost everything people consider normal

2018 ◽  
Vol 3 (1) ◽  
Author(s):  
Graeme Maxton
Keyword(s):  
Climate Change ◽  
Economic Growth ◽  
Economic System ◽  
Human Development ◽  
Radical Change ◽  
Second World War ◽  
World War ◽  
Environmental Destruction ◽  
Sustainable System ◽  
Second World

Economic growth is not a prerequisite for human development. While economic growth appeared useful following the Second World War, its continued pursuit will result in further environmental destruction and ever-widening inequality. It risks making climate change unstoppable, with dire consequences for humanity and most other species. It is not possible to make a gradual shift to a more sustainable system, as the basic requirements for an enduring economic system are fundamentally different from those that currently exist. To avoid an environmental catastrophe, societies need to deconstruct their economies and radically rethink their purpose.

Tourism Perspectives and Potential among BRIC Nations

2017 ◽  
pp. 117-136
Author(s):  
Vikrant Kaushal ◽  
Suman Sharma
Keyword(s):  
Economic Growth ◽  
Second World War ◽  
World War ◽  
Unesco World Heritage ◽  
World Heritage Sites ◽  
Heritage Sites ◽  
Tourism Sector ◽  
Tourism Resources ◽  
Tourism Potential ◽  
Second World

Culmination of Second World War more than half a century back was typically characterised by the economic growth and prominence that several western countries achieved. However, the much anticipated shift in the focus is expected to occur in coming decades and the group of countries, popularly known as the BRICs is speculated to emerge stronger in the race of economic dominance. This chapter is a work on BRICs and discusses about the partner countries with attention on the tourism sector. Given the limitation of any chapter in presenting comprehensive perspective, this work briefly, yet judiciously muses over tourism performance and viewpoints, economic highlights of BRIC member countries and to substantiate on the tourism potential in terms of major tourism resources the discussion has been limited to prominent UNESCO World Heritage Sites among the BRIC nations.

100th Issue of the Review : Forecasting and Economic Policy

1982 ◽  
Vol 100 ◽  
pp. 17-21 ◽  
Author(s):  
David G. Mayes
Keyword(s):  
Economic Growth ◽  
United Kingdom ◽  
Second World War ◽  
Forecast Errors ◽  
Current Policy ◽  
World War ◽  
Price Inflation ◽  
The United Kingdom ◽  
Second World ◽  
Economic Outlook

In recent years economic forecasting has come under increasing attack for two main reasons. The first is that since 1973 the economic outlook for the United Kingdom has been worse than most people in the economy would have liked. As the purveyors of bad tidings, economic forecasters have been thought, albeit largely unconsciously, to bear some responsibility for the outcome they expect. It is implied that if it is possible to point out the dire consequences of any current policy it should be equally possible to point to a better alternative policy, and hence enable the policymaker to avoid the undesirable outcomes. This very plainly has not happened; judged by the criteria of economic growth, price inflation and unemployment the United Kingdom has done worse since 1973 than in any period of comparable length since the second world war. Indeed comparisons have been made between the last few years, 1979–81, and those of the slump in 1929–33. On that occasion, however, there was no corresponding fear of rising prices. The second source of attack has been on grounds of accuracy. Despite the great advances in technique and the considerably enhanced complexity of macroeconometric models, forecast errors have not fallen markedly during the last decade and have in some instances increased.

The Past as Practice or Parable?

2021 ◽  
pp. 82-104
Author(s):  
Catherine R. Schenk
Keyword(s):  
Economic Theory ◽  
Great Depression ◽  
Economic History ◽  
Financial Crises ◽  
Second World War ◽  
World War ◽  
Policy Makers ◽  
The Past ◽  
Future Policy ◽  
Second World

The 2008 crisis was a boon to the discipline of economic history and created an appetite for ‘lessons from the past’ by academics as well as policy-makers as they sought to respond to the failure of economic theory to anticipate the crisis. But beyond this intense example, can we make conclusions about the pathway to impact for historical treatments? Is there something especially inspiring or impactful about the 1930s? Does the widespread awareness that there was an interwar Great Depression and that it was terrible and that it may have contributed to the Second World War mean that it has particular resonance when it is invoked by policy-makers? How has the past been used in anticipation of (rather than reaction to) financial crises? Examining two episodes, this chapter demonstrates the use of the past as a parable for current and future policy and as a rehearsal for a future crisis.

Eradicating Women-Hurting Customs

2018 ◽  
Author(s):  
Jean-Philippe Platteau ◽  
Giulia Camilotti ◽  
Emmanuelle Auriol
Keyword(s):  
Economic Growth ◽  
Poverty Reduction ◽  
Social Engineering ◽  
Second World War ◽  
Policy Implications ◽  
Subsequent Stage ◽  
World War ◽  
Modern Development ◽  
Second World

Since the birth of modern development economics in the period immediately following the Second World War, attention has been mostly directed to the determinants of long-term economic growth performance and, in a subsequent stage, to issues of income distribution and poverty reduction. Social engineering refers to deliberate attempts, often under the form of legislative moves, to promote changes in customs and norms that hurt the interests of marginalized population groups. This implies discussing the main possible interaction frameworks leading to anti-women equilibria, and deriving policy implications from the corresponding games. The theoretical arguments are illustrated by examples drawn from available empirical works, thus providing a reasoned survey of the literature. This chapter explores the analytical conditions under which social engineering is more or less likely to succeed than more indirect approaches when it comes to suppressing gender-biased customs.

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