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The internal fragility of representative democracy: was Schumpeter right?

In recent decades, the rapid emergence of new political leaders capturing growing social discontent with populist promises has highlighted elements of the internal fragility of democracy. Schumpeter ... -making: the limited use of “conscious rationality” by voters and the potential unfairness of political leaders. These two elements introduce systematic distortions into the process of collective decision

The institutional evolution of central banks

is scrutinized under the framework of entangled political economy, revealing its origins in a process of bank and political bargains. The account clarifies the process by which the political and ... Runs . In: Boettke P, Herzberg R , Kogelmann B (eds.) The political economy & social philosophy of Vincent and Elinor Ostrom . Rowman and Littlefield , London Patrick M , Wagner R ( 2015 ) From mixed

What are markets? Selected market theories under genuine uncertainty in comparison

markets maximize or minimize market outcomes and argues that they enable harmony between individual and common interests. According to the political-cultural approach, markets are political arenas with ... political-cultural approach fulfill critical-rationalist requirements. Therefore, the paper compares them and finds that there are reasons to prefer the political-cultural approach and to interpret the

Gender inequality and the entrepreneurial gender gap: Evidence from 97 countries (2006–2017)

the most gender equal countries. We show that gender inequalities in economic participation and opportunity as well as in political empowerment are the main drivers of this interaction effect. We find ... ) , gender inequality may also have a heterogeneous impact on the types of entrepreneurship. Gender inequality could introduce systematic distortions at multiple levels of an economic, social, and political

A Keynesian–Minskian perspective on the transformation of industrial into financial capitalism

restrictions and transaction cost, which may change over time quite drastically due to political action, technological and financial innovations and cultural changes. The growing importance of liabilities as ... fall. Both political measures as part of neoliberalism as much as genuine economic forces can be put forward here (see 6 It could be argued that the relative increase of financial assets in the balance

Examining the sustainable impact of urban expansion and urban expansion policies on archaeological sites: evidence from Jordan and Saudi Arabia

expansion in Jordan and Saudi Arabia and to prompt planners, policymakers and stakeholders to examine its political ramifications concerning land use and archaeological sites. It emphasizes the necessity of

Labor and environment in global value chains: an evolutionary policy study with a three-sector and two-region agent-based macroeconomic model

implications for climate change originating from industry emissions in the North are investigated with an agent-based model. The model serves as a testbed for simulation experiments with evolutionary political ... fragmented production system. The evolutionary process of political economic globalization leads to complex value chains regarding natural resource extraction and capital good production in particular. Final

Technology diffusion and uneven development

adoption is primarily explained by extra-economic characteristics such as educational attainment, institutional environment, political stability, labour market structure, financial market development, and ... determined exogenously by parameters affecting the ability to adopt technology or the capacity to innovate, which are determined by the political and institutional environment (Acemoglu et al., 2006; Parente

Schumpeter’s picture of economic and political institutions in the light of a cognitive approach to human behavior

government capable of working notwithstanding a low degree of conscious rationality among its citizens. Given this condition, the process of political communication and persuasion can lead to two very ... effectiveness of competition, which can advance the rational elements in the political debate and the self-determination of the citizens' will: a slow process that - he warns - may be effective only in the long

A conceptual framework for modeling heterogeneous actors

political arenas of innovation (Fagerberg 2003) . Our main contribution is twofold. First, we provide a comprehensive overview of policy instruments and empirical methods for the quantitative measurement ... country’s institutional environment (e.g., control of corruption, bureaucratic quality, political stability) seems to impact positively both on the likelihood of establishing high tech firms (Pereira and

Five shades of green: Heterogeneous environmental attitudes in an evolutionary game model

University Institute , Florence , Italy 1 Department of Political and International Sciences, University of Siena , Siena , Italy 2 Department of Economics and Management, University of Trento , Trento , Italy ... many insightful conversations on the subject. In addition, Giulio Galdi gratefully acknowledges the research grant received from the Department of International and Political Sciences of the University

Robotization, employment, and income: regional asymmetries and long-run policies in the Euro area

Political Economy 128 ( 6 ): 2188 - 2244 . https://doi.org/10.1086/705716 Acemoglu D , Restrepo P ( 2021 ) Tasks, Automation, and the Rise in US Wage Inequality . NBER Working Paper 28920 . https://doi.org ... ( 2018 ) The Political Economy of Austerity in Southern Europe . New Political Economy 23 ( 2 ): 192 - 207 . https://doi.org/10.1080/13563467. 2017 .1370445 Pigou A ( 1933 ) The Theory of Unemployment

Balancing health and economic impacts from targeted pandemic restrictions

unequal effects of the health-economy tradeoff during the covid-19 pandemic . arXiv preprint arXiv:2212.03567 Pavlik M ( 2020 ) A great and sudden change: the global political violence landscape before and ... , public health and economic recovery scenarios . Scientific Reports 10 ( 1 ): 16950 . https://doi.org/10. 1038/s41598-020-73949-6 Tisdell CA ( 2020 ) Economic, social and political issues raised by the

Complexity-minded antitrust

through ‘natural forces.’ The New Brandeisians, by contrast, believe the political economy is structured only through law and policy”). 1 3 In last analysis, Neo-Chicagoans double down on the methods ... century, complexity science irrigated various fields, including biology (Gordon 2011) , political economy (Axelrod 1986), physics (Holovatch et al. 2017) , game theory (Lindgren 1991) , archeology

Prospects of battery assembly for electric vehicles based on patent analysis

batteries. Acknowledgements This work was supported by the Shaanxi Provincial Philosophy and Social Science Research Project (2023QN0169) and National and Regional Research projects of Ministry of Education

Sexual selection of conspicuous consumption

Koliofotis 2 Erasmus Institute for Philosophy and Economics, Erasmus University Rotterdam , Burgemeester Oudlaan 50, 3062 Rotterdam, PA , Netherlands Recently, a number of papers draw upon ideas from sexual ... population growth, high population densities, technological innovations, political institutions and formalized hierarchies based on the inheritance of wealth. Human societies grew in complexity due to labor

Evolutionary game analysis of energy saving behavior of tourism enterprises under carbon emission constraints

towards a low-carbon path. FUNDING This study was supported by National Natural Science Foundation of China (41801137), projects of philosophy and social sciences of Heilongjiang Province (20JYE275

The role of diversity and tolerance in economic development

. Among the fields that rapidly advanced in Edinburgh were philosophy, political economy, engineering, architecture, medicine, geology, archaeology, law, agriculture, chemistry and sociology. The ... . Tolerance is harmony in difference. It is not only a moral duty, it is also a political and legal requirement. Tolerance, the virtue that makes peace possible, contributes to the replacement of the culture of

Vanishing social classes? Facts and figures of the Italian labour market

political identity and activism (Beck-Gernsheim and Beck 2001) . Therefore, the class-based approach should be historically confined to the description of industrial societies now progressively overtaken by ... that social classes, rather than being irrelevant, are in retreat as a result of the weakening of political organizations, mainly unions and labour movements, providing them adequate space for organizing

Evolutionary perspectives on economic policy

failure", whether of markets, governments or systems, because it is rooted in a peculiar attitude of economists to accept hypothetically perfect states as normative benchmarks for individual and political ... reciprocal coordination of plans. Provided appropriate rules are in place, markets thus enable a potentially harmonious system of exchange. Third, the political-cultural approach views the market as an arena