The analysis of sustainable economic growth and development often focuses on how to control the market process through coercive state intervention. While state interventionism may play a significant ...role in countries’ progress, entrepreneurship is the driving force behind sustainable growth and development. Entrepreneurship is the people’s judgment on ideas, plans, and projects, which promises profit in uncertain times. Its effects are the creation and transmission of information and social coordination as a dynamic process of identifying and solving human problems. Sustainable development is the widening range of entrepreneurial alternatives open to people, and sustainable growth is a phase of sustainable development that depends on genuine savings to finance increasingly capital-intensive production structures. The degree to which people are entrepreneurs and the direction genuine savings take depend on institutional arrangements. Some institutions are more conducive to sustainable growth and development than others. After reviewing principles of growth and development sustainability, how coercive state intervention influences economic performance is discussed, proposing novel policy conclusions and research avenues to cultivate entrepreneurship and genuine savings in a post-COVID-19 world.
Knightian Uncertainty in Capitalism and Socialism Julian, Juan Ramon Rallo; Bagus, Philipp; Neira, Miguel Angel Alonso
The independent review (Oakland, Calif.),
12/2022, Letnik:
27, Številka:
3
Journal Article
It is generally stated that the fractional-reserve banking system (FRBS) is consistent with sustainable economic growth and development. While it assumes that depositors will not be a joint demand ...who will claim all their money simultaneously, it supposes that a monetary aggregate greater than the monetary base will not harm economic performance. However, the FRBS’s call to central banks casts doubt on the sustainability argument and its ethical support. This article explores the FRBS from the ethics of private property, proving a radically different course to promote sustainable economic growth and development. After reviewing and discussing the ethics of private property for the FRBS and its call for central banks, the case of fiat inflation and business cycles clarifies the narrow relationship between ethics and sustainability. These findings are applied to some modern ethical dilemmas around the FRBS, proving novel avenues for policy reform and research opportunities.
El emprendimiento en las dinámicas económicas se ha estudiado y reconocido desde hace mucho tiempo, por cuanto constituye un elemento fundamental en los procesos de desarrollo económico de las ...naciones, permitiendo la generación de nuevos productos y servicios, con mayor valor agregado y nuevos equilibrios eficientes en los mercados. En este sentido, el presente trabajo de investigación tiene como propósito analizar el emprendimiento y el crecimiento económico, particularmente a través de las incubadoras de negocios en México. Para ello se desarrolló un estudio empírico aplicado en el contexto de la economía mexicana, empleando una base de datos desagregada hasta el nivel de municipalidad que cubre un período de 10 años. Los resultados dan cuenta que, mediante el emprendimiento, las incubadoras de negocio logran impactar al desarrollo económico mediante diversas estrategias y métodos. Se concluye, que en México existe un estímulo en el modelo de crecimiento económico que trata de identificar los efectos del emprendimiento en las tasas de crecimiento desde la municipalidad.
La Economía arrastra un complejo, por su conocimiento difuso y variado según escuelas. A mediados del s. XX, se intentó cerrar en falso con la Síntesis Neoclásica, imponiéndose una versión ortodoxa ...de tipo aplicado y econométrico. Esto no resolvió el problema del conocimiento, sino que lo agravó con la paradoja de las crisis recurrentes y la tendencia autística. Se diagnostica aquí el citado problema, atendiéndose a las cuatro categorías ontológicas del conocimiento económico, además de pronosticarse sobre los riesgos y retos que aguardan a la emergente corriente de la Economía del conocimiento y la complejidad.
The central banking system paradox Espinosa, Víctor I.; Alonso-Neira, Miguel A.; Huerta de Soto, Jesús
Economics & sociology,
01/2023, Letnik:
16, Številka:
4
Journal Article
Recenzirano
Odprti dostop
The conventions of monetary theory assume the central banking system (CBS) as the starting point for achieving the stability and efficiency of the financial system. This paper stresses the ...stability-efficiency thesis based on the Austrian business cycle theory (ABCT). It argues that the stability-efficiency thesis under CBS poses a paradox for two main reasons. First, central banks' interest rate handling causes business cycles, yielding the intertemporal discoordination of the money and goods markets. Second, a central bank's lender-of-last-resort role is an incentive to call for further interest rate handling, making the chance of smooth business cycles difficult or impossible. This paradox is empirically analyzed and discussed through the True Money Supply (TMS) performance in the United States's business cycle phases between 1975 and 2022. Consistent with the ABCT, the research results unlock the paradox by showing that CBS causes business cycles. Some policy implications are outlined for further research and revision of monetary theory.
A free market bailout alternative? Bagus, Philipp; Julián, Juan Ramón Rallo; Neira, Miguel Ángel Alonso
European journal of law and economics,
06/2014, Letnik:
37, Številka:
3
Journal Article
Recenzirano
It has been more than 3 years since the collapse of the investment bank Lehman Brothers and the beginning of the Troubled Asset Relief Program. Most recently, the sovereign debt crisis in Europe has ...led to the bailout of the governments of Ireland, Portugal and Greece. A main reason behind these bailouts is to support European banks loaded with government bonds on their balance sheet. In this article we analyze the detrimental consequences of the public bailout in 2008 and argue that a free market alternative existed. The alternative of a private bailout outlined in this article, consisting of the conversion of liabilities into equity and a private capital increase, largely avoids the problems of a public bailout. Similarly, a public bailout of governments of the Eurozone to sustain banks may be detrimental.
This study investigated the relationship between urease and arginine deiminase system (ADS) activities and dental caries through a cross-sectional study.
Urease and ADS activities were measured in ...saliva and plaque samples from 10 caries-free subjects and 13 caries-active. Urease activity was obtained from the ammonia produced by incubation of plaque and saliva samples in urea. ADS activity was obtained from the ammonia generated by the arginine-HCl and Tris-maleate buffer. Specific activity was defined as micromoles of ammonia per minute per milligram of protein. Shapiro-Wilk statistical test was used to analyze the distribution of the data, and Mann-Whitney test was used to determine the significance of the data.
The specific urease activity in saliva and plaque was significantly higher in individuals with low DMFT scores. ADS activity in saliva (6.050 vs 1.350, p=0.0154) and plaque (8.830 vs 1.210, p=0.025) was also higher in individuals with low DMFT scores.
Caries-free subjects had a higher ammonia generation activity by urease and arginine deiminase system for both saliva and plaque samples than low caries-active subjects. High levels of alkali production in oral environment were related to caries-free subjects.
La crisis financiera de 2007-2008 y la posterior recesión económica mundial han creado un reno-vado interés por la teoría austriaca del ciclo económico. Aunque por razones metodológicas no es posible ...encontrar demasiados estudios econométricos que analicen las aportaciones de este enfoque teórico, en los últimos años han surgido varios trabajos que han permitido ilustrar aspectos muy relevantes del mismo. En este sentido, el presente trabajo, después de revisar la literatura econométrica sobre el ciclo austriaco, tiene como principal objetivo analizar el comportamiento de la economía estadounidense entre 1988 y 2010 a la luz de las aportaciones de la teoría del ciclo monetario endógeno.
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