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The Value of Everything. Making and Taking in the Global Economy (an excerpt)

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... In a nutshell, institutional design, institutional setups, and organizational changes are major complements for efficiently deploying technological progress and tackling social challenges. Moreover, according to Mazzucato (2018b), innovation has a rate and a direction. As a result, innovation policy design should be inextricably interlinked to the increasing need to cope with emerging challenges such as climate change. ...
... As a result, innovation policy design should be inextricably interlinked to the increasing need to cope with emerging challenges such as climate change. In this respect, mission-oriented policies are defined as systemic public policies that draw on frontier knowledge to achieve specific goals and to confront social challenges (Mazzucato, 2018a(Mazzucato, , 2021. ...
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Given the need to strengthen responses to the growing challenges posed by climate change, the purpose of this paper is to explore innovative approaches and interdisciplinary perspectives for tackling these issues, focusing on the role of the institutional framework, emerging technologies, and the necessity to also encourage the involvement of small-scale actors (such as citizens). The main approaches of this paper involve, first, the technological developments spurred by the necessity to effectively address climate change problems, emphasizing macro-level dimensions in terms of the political economy of green transition and the technological components of climate solutions. Parallel to that, it provides results and presents key elements of the legal context that promoted the sustainable transition, such as the establishment of a science-based policymaking process, the development of scientific data and tools, and efforts to encourage the participation of all relevant actors in sustainable economic development. Against this background, this paper puts forward the idea that a combined approach is required to address climate change issues, integrating top-down, e.g., macro-policy approaches with bottom-up strategies (with the latter allowing for a more dynamic participation of citizens and individuals), in order to complement current institutional, legal, policy, and technological measures. The result of the analysis is that this paper provides evidence for the introduction of guidelines strengthening macro-economic approaches in addition to the concept of a “science citizen” as a major component of new problem-focused solutions. The principal results and findings offer interpretations and insights while encouraging further discussion on transitioning to a sustainable science society. In this context, the analysis results elucidate that there is evidence for an increased policy emphasis on technology development (economy-based approaches) rather than on technology diffusion and assessment, and/or the integration of key small-scale actors, such as citizens. Thus, this paper provides evidence for the need to incorporate “science citizens” as a key parameter into the technology and innovation chain (e.g., data provision) and the public policy domain. Overall, this paper outlines a holistic analysis of the international economic, technological, institutional, legal, and policy environment regarding innovation, sustainability, and the climate crisis.
... Thinking about the redirection of capitalism towards a new social contract and collective value creation requires a stakeholder understanding of capitalism itself. Because businesses can't be successful without the involvement of many groups, civil society, workers, communal organizations, and governments should have the power to influence and benefit from business decisions (Mazzucato 2018a). ...
... An essential part of this transformation is to link the understanding of how value is created collectively to its distribution. Stakeholder capitalism is about recognising and rewarding the contributions that different stakeholders, whether shareholders or not, make to the value creation process (Mazzucato 2018a). Growth is an inherently collective process: value is co-created between producers and consumers, workers and managers, inventors and administrators, regulators, and investorsnot just heroic entrepreneurs, venture capitalists and corporate leadersthrough the organisational and institutional configurations which enable all to work together. ...
... Im "Qualitative Impact Assessment Protocol" werden die Betroffenen nach positiven und negativen Veränderungen in anhand der ToC des Auftraggebers bestimmten "domains of change", also interessierenden Themenbereichen, befragt, ohne von diesen Hypothesen zu wissen ("blindfolding" Die Monetarisierung von sozialen und ökologischen Werten stößt aber regelmäßig auf Widerstand (Wruk, Oberg, & Friedrich-Schieback, 2019). Letztlich geht es hierbei um die Frage, wie man "Wert" definiert (Mazzucato, 2019). Problematisch ist in Wirklichkeit weniger die Monetarisierung an sich, als vielmehr die mit der Umrechnung in Geld verbundene Wertvorstellung, die in der neo-klassischen Wirtschaftswissenschaft bis heute üblich ist: der Wert einer Sache ließe sich durch den Preis ermitteln, der sich durch Angebot und Nachfrage auf "dem Markt" ergeben würde. ...
... Problematisch ist in Wirklichkeit weniger die Monetarisierung an sich, als vielmehr die mit der Umrechnung in Geld verbundene Wertvorstellung, die in der neo-klassischen Wirtschaftswissenschaft bis heute üblich ist: der Wert einer Sache ließe sich durch den Preis ermitteln, der sich durch Angebot und Nachfrage auf "dem Markt" ergeben würde. Diese Auffassung wurde von Wirtschaftswissenschaftler:innen und Soziolog:innen, die Wirtschaft als Teil der Gesellschaft und ihrer Geschichte betrachten, häufig als fehlgeleitet kritisiert (Damtoft et al., 2023;Mazzucato, 2019;Polanyi, 2001 (2021) ...
... In this sense, although the constructs of successful innovation differ between organizations, in the field of private management, it is considered a means for increasing productivity, improving profit margins, and leading the market (Laforet, 2013). However, for public companies, because they are entities that are not subject to profitability imperatives, the study of innovation must be linked to their public value as servants of the common good (Mazzucato, 2018). ...
... This article first reviewed previous literature on the concept of innovation and its organizational implications for both private and public companies (Baregheh et al., 2009;Chesbrough, 2003;Christensen, 1997;Drucker, 2002;Mazzucato, 2018;Oliván, 2020;OECD, 2018;Rogers, 2003;Schumpeter, 1934), which is complemented by a review of prior studies on innovation and PSM (Cañedo et al., 2023(Cañedo et al., , 2024Cunningham, 2015;López-Golán et al., 2019;Ranaivoson et al., 2013;Sehl & Cornia, 2021;Zaragoza Fuster & García Avilés, 2020). This enabled us to delve deeper into the weak current state of innovation implemented in PSM and the need to design an instrument to diagnose innovation in the production processes of the organizations under study to both assess their management and measure their impact. ...
Article
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In the current media ecosystem, innovation has become an incipient but key element of public service media (PSM) value. However, what is often alluded to yet not consistently comprehended is that its application is predominantly observed in the technological realm. Thus, based on the Spanish case study, this article presents a tool for assessing the state of innovation in PSM production processes. A qualitative methodology is applied. First, we analyze prior innovation indicator models and both the regulation and gray literature about the 14 Spanish PSM organizations. Second, we conduct structured interviews with 45 managers of these PSM. Once designed, the instrument was validated by applying the Fuzzy Delphi method. The results allow for the development of a tool structured in nine dimensions that contain 68 indicators whose application will make it possible to know the state of internal, external, and cross-cutting innovation in the production processes of PSM.
... La experiencia de la ORF austriaca, la VRT flamenca, la BBC británica, la ARD alemana o la SRG SRR suiza son buen ejemplo de ello. Sin embargo, los PSM se han enfrentado históricamente a los problemas de conceptualización de este valor público (EBU, 2012;Donders;Van den Bulck, 2016), un término que, aunque previamente estudiado (Moore, 1995;O'Flynn, 2007;Mazzucato, 2018), continúa siendo ampliamente discutido y se encuentra sujeto a múltiples definiciones en función de los campos y los contextos. ...
... Académicos anteriores han intentado definir el concepto de valor público ISSN: 2660-4213 Sostenibilidad de los medios en la era digital. Economía política de los medios públicos, privados y comunitarios ISBN: 978-84-17600-94-5 Colección: Tiempos / Activismo Mediático, 5 desde las perspectivas de varias áreas de investigación (Moore, 1995;O'Flynn, 2007;Gransow, 2018;Mazzucato, 2018;Túñez-López et al., 2021) (Debrett, 2009;Martin, 2021;Segovia en Goyanes;Campos-Rueda, 2022;Cañedo et al., 2023). Por ello, el aporte de la investigación radica en contribuir con una conceptualización del valor público basada en sus componentes. ...
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El panorama global de los medios de comunicación, dominado por conglomerados transnacionales privados, ha reavivado el debate sobre los medios de comunicación de servicio público. Estas organizaciones, financiadas prioritariamente con fondos públicos, enfrentan la necesidad de redefinir su valor distintivo en el contexto del capitalismo de plataformas: deben ofrecer más valor que los medios comerciales, con contenidos de alta calidad y un funcionamiento socialmente responsable, democrático, diverso y eficiente. En respuesta, diversos medios públicos de Europa han desarrollado estrategias de valor público para reforzar su legitimidad, como lo demuestran los casos de la ORF austriaca, la VRT flamenca, la BBC británica, la ARD alemana o la SRG SSR suiza. Si bien, en esta investigación se parte de la idea de que el debate debe replantearse desde una perspectiva global. Por ello, aunque este trabajo se sustenta en el estudio de los medios de comunicación de servicio público europeos, se pretende establecer una definición de valor público sostenible y adaptable a otras realidades geopolíticas. Los resultados de la metodología cualitativa aplicada, basada en una revisión sistemática de la regulación y literatura gris de estas corporaciones, destacan la dificultad de proponer una definición única de valor público, pero aportan una conceptualización basada en doce componentes adaptables a diferentes contextos mediáticos y retos futuros: compromiso social, diversidad, innovación, independencia, excelencia, universalidad, participación ciudadana, alfabetización mediática, responsabilidad, cohesión territorial, justicia social y cooperación.
... On the one hand, neoclassical economic theory, which dictates the current neoliberal political agendas that dominate throughout the world, considers value to be worthy only for the activities priced in the market (Mazzucato, 2018). As paid labour conforms to this criterion, it is usually seen as a productive and value-adding activity that creates value and provides goods and services to society (Marx, 1992). ...
Article
The Anthropocene is characterized by multiple crises associated with the infinite accumulation of growth on a planet of finite resources. Productive labour and the 8-h working model contribute to this contradiction. We argue for the reduction of productive labour in favour of reproductive labour accumulated through practices of collective care. The latter can heal the damage capital accumulation produces. Collective care brings into light various social practices often invisible to production, allows for a new understanding of nonhuman agency, and challenges the dominant ethical disposition around work. We advocate for a new power equilibrium between productive and reproductive labour.
... By stimulating, developing, and scaling environmentally, economically, and socially sustainable local food (production) systems and a strong agriculture sector, SITEs can strengthen national capacities, alleviate depend-ency on food imports, build resilience against exogenous shocks and risks, and economically diversify (World Bank Group, 2020;Van Geelen, 2020). Agriculture has profoundly shaped human history, and, since the work of the earliest economists, has always been included as a vital primary productive sector (Mazzucato, 2019). We need to eat daily to live and therefore, nutrition is something countries should want to exert some form of direct control over. ...
Chapter
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Reliance on imports augments vulnerability to exogenous shocks that threaten food security. The study upon which this paper is based investigated challenges and opportunities for developing local food production systems in Sint Maarten, to build resilience and diversify its economy. We applied mixed methods; interviews, expert meetings, and participatory action research. After a first analytical cycle, we validated and adapted our initial explanatory model, to subsequently carry out the main investigation. We found systems interacting within a context lacking capacity and resources, creating negative feedback effects. We propose solutions that contribute to establishing a sound framework for decision-making and creating synergies within existing initiatives or through incorporating external resources.
... Maintaining affordability and equity in public services is vital for social cohesion and the well-being of all community members (Mazzucato 2018). ...
Conference Paper
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The "Three Waters Reform" in New Zealand was initiated in response to a critical water contamination incident in Havelock North in 2016, which resulted in widespread illness and fatalities. This reform sought to restructure the management and delivery of water services to address systemic issues within the sector. The proposed transition from local council control to four regional Water Services Entities (WSEs), and subsequently to ten entities, generated considerable debate. This study comprehensively analyzed the perspectives of a key stakeholder group: local governments in New Zealand. Our analysis included local governments' submissions on the Water Services Entities Bill 2021, which detailed the provisions of the three waters reform, along with public documents. The study employed a qualitative methodology using thematic analysis to explore the data. Key concerns from local governments included the loss of local voice and accountability, centralization of power, and potential challenges in governance and implementation. Despite these concerns, there was support for including Mana Whenua in governance structures and the establishment of Taumata Arowai, a dedicated water regulator. The findings highlight the importance of transparent, inclusive processes and careful consideration of local contexts in future water governance in New Zealand.
... Este hallazgo es consistente con los resultados obtenidos en la encuesta, donde la mayoría de los economistas señaló que su trabajo contribuye directamente a mejorar las políticas públicas. De acuerdo con una investigación de Mazzucato (2018), los economistas no solo proporcionan información y estudios, sino que también desempeñan un papel activo en la comunicación de los resultados del estudio a los responsables de la formulación de políticas. ...
Article
This article aims to highlight the key role that economists play in the scientific advancement of the public sector. Through an analytical approach and a thorough review of the available literature, it analyzes the contributions of these professionals in the formulation of public policies, program estimation, and applied research. The methodologies used and the results obtained are examined, emphasizing how economic analysis contributes to improving the effectiveness and efficiency of government tasks. Additionally, a framework is proposed to integrate economics into the advancement of public policies based on certainty. Finally, recommendations are presented to optimize collaboration between economists and other public sector actors, with the goal of promoting scientific development.
... Equally, the role of the state in changing the regulatory environment in which private and voluntary sector providers operate could be modi ed in ways that foster sustainable development (rather than the partnerships they might choose to participate in). This would entail social and environmental protections (Mazzucato, 2018;Raworth, 2017) and regulations to govern illicit nancial ows (Brandt, 2023). ...
Preprint
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Partnerships that bring together public, private and voluntary sectors are increasingly promoted as a key tool in addressing sustainable development. Paradoxically, however, knowledge of the effectiveness of partnerships is limited, and fragmented across several academic disciplines despite their common research topic. As research into the effectiveness of partnerships is developing in this disjointed manner, it is important to surface the structuring of the academic landscape of partnership effectiveness research, and the assumptions on which it rests. We therefore map the partnership effectiveness research across several disciplines, question the main assumptions made by partnership effectiveness researchers, and propose new directions for partnership effectiveness research. By centering effectiveness, our article moves the field beyond discipline-centric, issue-specific questions to call for interdisciplinary, cross-cutting analysis that challenges assumptions in the existing literature.
... Blanchflower & Machin, 2014). The extent of inequality, the growth of new forms of economic organisation and the failures of the public sector to even approach public expectations all sparked new analyses that seriously critiqued neoliberal capitalism and its justifications (Mazzucato, 2018;Piketty, 2014;Varoufakis, 2024). ...
Article
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New Zealand was once at the vanguard of international adoption of neoliberalism in labour market policy. However, international institutions have weakened or even reversed their commitment to these ideals over time. In addition, economic theory has moved towards a model that takes account of monopsony and power. Fair pay agreements, briefly introduced and the abolished in 2023, were considered a crucial legislative change, but they cannot be the full solution to the problem of low worker power in New Zealand. Instead, consideration needs to be given to broader factors behind the continuing loss of employee influence. Finally, the concrete effects of neoliberalism are likely much more persistent than the ideas themselves.
... With this system, the Pegasus companies generate a 'relational rent' (Warren, 2023; Joseph Wieland in Chapter 1), i.e. a jointly produced profit. Additionally, in the 'one share, one vote' model typical of unicorn companies, where profits end up in the hands of shareholders applying an extractive model of value (Mazzucato, 2018), the democratic cooperative model based on 'one member, one vote' ensures that the generated profit is evenly redistributed among the cooperative members. Firstly, all surplus value obtained from the improvement of the cooperative's administration system, e.g. through the introduction of technologies that speed up procedures or the optimization of organizational systems benefits the cooperative members or reinvested in the cooperative business, remaining within the cooperative. ...
Chapter
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... In modern growth theory, the complex concept of inclusive growth (Cerra 2022) conforms to a framework in which the value of output is sought along the lines of improving the conditions of living of the most disadvantaged income groups, containing disparities, and promoting employment opportunities. The idea that growth should be assessed by its effects on income distribution has emerged as a critique against the conventional perspective marked by investments in rent-seeking activities hampering the prospects of social progress (Mazzucato 2017), generating serious socioeconomic drawbacks. ...
Article
We examine the relationship between small and medium enterprises’ (SMEs’) productivity and the living standards of low‐income groups in the EU27. To the best of our knowledge, this is the first study that tries to shed light on the link between SMEs’ productivity and poverty in a group of developed economies. Our results from panel estimators suggest a robust positive link between the income—in purchasing power standards (PPS) terms—of the poor population and the productivity (gap) of very small firms, small firms, and SMEs. Such effect also appears to hold true, especially for SMEs, during Covid19. Finally, we explore the same link for the high‐tech, knowledge‐intensive SMEs and confirm a strong positive relationship before Covid19.
... This means moving away from the perception that markets are solely established by the private sector and that the role of the state is relegated to fixing market failures. Instead, public value is realized when the state shapes markets to reflect public purposes and priorities (Mazzucato, 2018a;Mazzucato and Ryan-Collins, 2019). ...
Article
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The Government of Brazil is implementing an agenda of economic transformation that aims to bring economic, social and environmental priorities into alignment. Realising its full potential will require a parallel agenda of state transformation, to empower the public service with the policies, tools, institutions and capabilities needed to successfully direct growth and shape markets that work for the people of Brazil and for the planet. Thoughtful design and governance of state-owned enterprises (SOEs) are a critical part of this agenda. SOEs play an important role in Brazil’s economy, but realising their full potential requires aligning their mandates with policy goals – in contrast to the traditional view that SOEs should remain independent and arms-length. This working paper explores the challenges and opportunities for aligning and coordinating SOEs around the goals of Brazil’s economic transformation.
... Rentier profits, such as interest payments on debt and capital gains on stocks, have become increasingly important to the economy as a whole, to non-financial firms, and even to individual households since the financialisation of the economy beginning in the 1970s (Krippner 2012). However, recent scholarship has emphasised that rentier profits of all kinds are on the ascent, generated by assets as varied as rental housing, intellectual property, physical infrastructure, and digital platforms (Birch 2020;Christophers 2020;Mazzucato 2018). For some scholars, platforms represent the forefront of technologically enabled rentier capitalism, a phenomenon Sadowski (2020:564) describes as the "Internet of Landlords". ...
Article
With the rise of digital technologies, a political‐economic configuration recognised as “platform capitalism” has raised concerns over monopolistic tendencies, lack of accountability, expanded rentiership, workers’ precarity, and more. Existing analyses, however, show a distinctly urban bias—centring on housing, transportation, retail, and gig labour—and have yet to engage with the agrarian dimensions of this phenomenon despite considerable potential impacts on the future of farming. Here we begin the process of theorising agrarian platform capitalism, offering a typology of platforms in the agri‐food sector, and bringing together critiques of platform capitalism with the distinctive features of agrarian political economy. Our analysis identifies four prominent characteristics of agrarian platform capitalism which largely corroborate existing critiques albeit with some distinctive contours. As in other sectors, platforms intensify rentiership regarding both real estate and digital assets. Agricultural platforms also display a familiar tendency to thrive in spaces of regulatory retreat and are in some cases even endorsed by regulatory agencies, highlighting the potential for public–private platformisation. Some agricultural platform companies deploy populist rhetoric beyond established tropes of consumer welfare, latching onto farmers’ deep frustrations with the highly concentrated agribusiness sector. Efforts to reign in agrarian platform power may be further constrained by legitimising discourses of hunger relief and sustainability.
... The UK's system of mergers and takeovers, or the "market for corporate control", provided a further incentive for companies to keep their share price high rather than invest in production and growth, with takeovers often highly leveraged, making short-term profits but leaving long-term debts (Pendleton, 2016;Rees and Offenbach, 2021). New investment vehicles also emerged, such as hedge funds and private equity, making extensive use of debt and leverage to extract economic value from portfolio companiesand frequently entailing job losses, asset disposal, cuts to pay and poorer working conditions, leaving less money for wages and training (Appelbaum and Batt, 2014;Mazzucato, 2018). ...
Article
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Purpose The article considers the utility of a pluralist perspective in the context of current debates around UK corporate governance reform. Oxford School pluralism advanced both a description of how industrial relations (IR) operated in practice plus a prescription for how it should operate. Whilst economic conditions are different today, a pluralist framing provides not only a useful way of understanding interests in firm governance (description) but also a solid grounding for a pragmatic reform agenda (prescription). Design/methodology/approach Drawing from key texts in the field, the article considers core concepts within pluralist discourse and discusses their relevance to contemporary policy debates. Findings The article provides a short outline of recent economic and political developments and considers how a pluralist framing helps explain firm-level interests, challenging the dominant narrative of shareholder primacy. It then asks what policy interventions might flow from this analysis of capital and labour investments, and how feasible they are in the current UK context. This allows a discussion of levels of analysis (evident in materialist theories such as “radical pluralism” and the “disconnected capitalism thesis”). Finally, it reflects briefly on the links between corporate governance and wider patterns of inequality, suggesting the pluralist position is consistent with a Durkheimian sociology focusing on the potential in state-led regulatory interventions to tackle anomie and strengthen social solidarity. Originality/value The article brings together literature from what are often treated as relatively discrete areas of enquiry (employment relations and corporate governance) and also considers the public policy implications of these connections.
... 6 It is particularly more difficult for micro to small financial intermediaries (a characteristic of most MFIs) to create credits without a matching or close-tocommensurate savings pool (e.g., deposits), unlike large banks which can generate a significant additional amount of credit beyond their deposits by writing loans against borrowed (or bought) funds. That is, they can source production inputs easily in the funds markete.g., via commercial papers, securitization of illiquid debt contracts, issuance of subordinated debts, and so on (Werner, 2014;Mazzucato, 2019; and others). ...
Article
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The financial inclusion paradigm is increasingly considered a veritable development model. Therefore, we argue that a deeper understanding of it is necessary for enabling policies and strategies that would yield positive development outcomes (successful financial inclusion). We explore this argument by first, defining “effective financial inclusion” along the lines of identifiable population groups that are often financially excluded from mainstream financial services; and second, by hypothesizing that large national savings pools are a crucial prerequisite for effective financial inclusion. Furthermore, we posit that if effective, financial inclusion should enhance economic welfare, thus engendering “successful financial inclusion.” We evaluate these hypotheses by using a battery of econometric techniques, and document robust supportive findings. Moreover, we evolve first-of-its-kind robust definition of financial inclusion and provide unambiguous evidence that would guide governments and other stakeholders on how to leverage financial inclusion, as a development model, more productively. Importantly, we highlight the primacy of large savings pools for effective financial inclusion.
... The reset detailed above, involving reduced taxes on work and productivity and an effective socialization of rent, would reshape the economy. A rentier economy is one in which wealth is accumulated or taken passively, through the enclosure of land and other assets, and through the private capture of rent (Mazzucato, 2018). Where that rentier economy is financialized, rents (extractable land values) become the primary source of growth. ...
... ]. La financiarización ha exacerbado la tendencia, ya que casi cuatro décadas de liberalización financiera han abierto un mercado mundial de oportunidades a corto plazo y de alto rendimiento en el que los bancos privados pueden invertir [Mazzucato, 2018]. En el sector del agua, por el contrario, se percibe una "escasez de proyectos 'financiables' y de empresas e instituciones solventes en materia de agua" [WWC y OCDE, 2015: 54]. ...
Article
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El Objetivo de Desarrollo Sostenible 6 pretende lograr el acceso universal a los servicios de agua y saneamiento para 2030; se espera que esto cueste un estimado de US$150 mil millones por año. ¿De dónde saldrán estos fondos? Una posibilidad es la financiación privada en forma de inversión directa de capital de empresas privadas de agua y préstamos de bancos comerciales. Sin embargo, la evidencia sugiere que las inversiones privadas en agua y saneamiento no se han materializado según lo planeado debido al perfil de riesgo-rendimiento del sector. El agua y el saneamiento son considerados "demasiado arriesgados" por los inversionistas privados y los rendimientos no son lo suficientemente gratificantes. Una alternativa que puede ayudar a cubrir el déficit de financiación del abastecimiento de agua y el saneamiento (WSS, por sus siglas en inglés) es una fuente de financiamiento pública aún sin explotar: los bancos públicos. Hay más de 900 bancos públicos en el mundo, con 49 billones de dólares estadounidenses en activos; sin embargo, han sido subestimados en gran medida como una fuente importante de financiamiento para el agua y el saneamiento y también han sido descuidados por la investigación académica y por las principales organizaciones políticas, como el Banco Mundial. Es necesario comprender mejor cómo se puede movilizar a los bancos públicos como financiadores eficaces del agua pública. En este artículo ofrecemos una breve historia de las prácticas de la banca pública en el sector del agua, revisamos sus pros y sus contras, y discutimos la importancia de la aparición de un nuevo tipo de operador público de agua y el potencial que estas entidades ofrecen para financiar en este sector.
... However, this is done based on negative reasoning: markets are idealised to start with, assuming 'that in principle market solutions are always the first-best outcomes' (Prosser 2006:369). Since the contemporary economic cannon is based on narrow definitions which cannot be utilised to study state activities (Colm 1965:213-14), alternative approaches, government as a producer (Sekera 2020), public value (Mazzucato 2018) and the production of public wealth (Prug and Žitko 2024) have to be considered. ...
Article
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EU state aid rules are part of the EU’s competition policy, a form of soft law developed to nudge states away from public investments in many areas. Rules were used to impose that market competition holds a privileged position, and that enacting social, political, or economic benefits that might stifle competition requires a complicated legal and political negotiation process between the European Commission, Member States, and private companies. Nonetheless, many strategic projects or situations in recent years led to significant state aid. The Commission utilised a variety of means to encourage both private and public investments in EU based digital infrastructure that is critical for public media services and for unified European data space. Despite EU’s balancing act between the private and public interests, business interests are dangerously capturing the development in the media data space. To grasp the social and economic contribution of publicly financed productive activities, we approach public broadcasting systems as producers of public wealth of a peculiar kind whose activities and goals are defined by their public purpose, rather than the imperatives of capital and profitmaking. Unifying data spaces with too many design decisions conceded to capitalist production runs the risk of further neglecting social foundations of member states. We argue that the desired digital transformation would be more successful if it moved towards affirmative approaches to public services and public infrastructures, recognising the historical and contemporary contribution of the production of public wealth and public media in member states.
... As used here, 'multistakeholder innovation' refers to the use and development of new technical, technological, or organizational capabilities to create public and private value benefiting participating stakeholders through the transformation of existing economic constraints that determine trade-offs between equity, quality, cost efficiency, and other domains of performance (Lazonick, 2002;Mazzucato, 2018). ...
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HIGHLIGHTS → A competitive and resilient Europe requires a systemic transition that fosters economic circularity and far-reaching societal adjustments. These measures must acknowledge the complexity of wellbeing. Its adequate use for policy and governance requires a system thinking approach. → Transforming our socioeconomic model requires innovations going well beyond the traditional focus on science and technology. The EU's pursuit of a sustainable transition can only succeed if Europe manages to transform its economies, while remaining globally competitive and resilient. → Europe has a unique model to build on that combines competitiveness with addressing inequalities. A just and fair transition considers the social aspects of sustainability and ensures the affordable wellbeing of current and future generations.
Book
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This book analyses and explains the nature of the economies of small coun tries and territories. It includes an assessment of material prosperity in 41 small open economies worldwide, with case studies focusing on the Caribbean and Central America, with a review of the development of their economies in recent decades. The volume recommends a suite of economic policy tools for the management of these economies, demonstrating how these may best be employed in economies that live and breathe through international commerce. Among observations of interest is the fact that the devaluation of the local currency of a small nation makes the country worse off; even a currency that maintains its value is little more than a trophy, of little value if it is not readily convertible into US dollars. Also, that while government policies affect inter national competitiveness and a small country's growth prospects, more important is how governments use additional resources to improve the quality of health and educational services. Moreover, economic windfalls such as the discovery of mineral resources seldom bring prosperity commensurate with their economic value, and never in the short run. The volume will offer invaluable information and analysis to researchers and policy makers investigating small open economies.
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Abstract Only urgent near-term deployment of “direct climate cooling” (or “geoengineering”) and rapid emissions reduction and removal of “short-term climate drivers”, can moderate climate harm in the near term (next few decades to century or more) before natural tipping points and social tipping points are activated. Cutting Greenhouse gas emissions, though essential for the long term, will not reduce climate harm in the near term. They will only reduce the rate at which climate harm is getting worse. Even getting to “net zero” anthropogenic emissions (and natural) emissions will not produce a global warming decline. Removing carbon dioxide and other GHGs from the atmosphere and oceans, though again essential for the long run, cannot realistically be accomplished at the rate necessary to reduce climate change harm in the near term. Very large transfers of technology and financing from rich to poor countries and individuals are essential for a realistic (and more just) rapid transition to a globally sustainable economy. Global mandatory markets are the most realistic “work around” within our capitalist world economy for achieving in the short-term. Without this kind of global “back stop”, the ability of even well-meaning national leaders to accelerate the pace of sustainable economic transformation and ecosystem regeneration will be limited and inadequate to a rapid global economic transformation. Unfortunately, human civilization is characterized by enormous inertia and vested interests (that are a core characteristic of our class-based global economy and civilization) so that the transformation of our economy and society into a sustainable, prosperous and potentially more just, future human civilization, and the regeneration of our natural ecosystems, will (in the absence of near term direct climate cooling) realistically will take much longer then the “climate clock” will allow.
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The previous chapter has introduced an enlarged definition of anthropocentrism as a heuristic device against which the emergence of an ecological jurisprudence will be cast. Anthropocentrism thus construed refers to the belief that modern human beings are located—in an ontological, and, or, in an ethical sense—at the centre of the cosmos and at the pinnacle of progress and evolution.
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In his opening remarks at the United Nations Climate Change Conference of the Parties (COP25), held in Madrid at the beginning of December 2019, UN Secretary General António Guterres stated in no uncertain terms that ‘we [i.e. the entirety of humankind] are knowingly destroying the very support systems keeping us alive’. To validate such a radical assertion, Guterres cited the most recent scientific information on the state of the world’s environment (the IPPC Reports), leading him to the realization that a possible path—certainly the darkest—ahead of humanity is one ‘of surrender, [one] where we have sleepwalked past the point of no return, jeopardizing the health and safety of everyone on this planet … If we don’t urgently change our way of life’ Guterres concluded, ‘we jeopardize life itself’. The sense of urgency conveyed by the UN Secretary General’s words is far from a single, isolated cry to attention. On the contrary, the idea of a veritable climate apocalypse pervades the current global discourse, within scientific and political circles as much as within popular culture.
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What underpins the worldview that sees the environmental damages outlined in the previous chapter as legally invisible or at least legally irrelevant ? Swimme and Tucker point out that, in relatively recent times.
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Artificial intelligence (AI) is a key technology of the twenty-first century that has and will continue to have a far-reaching impact on all areas of society and people’s lives. Technical and technological revolutions always have had the potential to lead to social upheaval and to substantially transform power relations and power structures in a society. When considering the relationship between humans, society and AI, the debate often oscillates between naive technological euphoria on the one hand and fatalistic or dystopian fantasies of extinction on the other, but the power issues associated with the development and application of AI usually remain strangely underexposed and undertheorized. Therefore, this article looks at the influence of AI on social power relations and power structures and asks how the use of artificial intelligence is changing the understanding of power and power relations in economy, politics and society and what consequences this has for democracy. It is shown that AI in itself and per se does not have an equalizing, levelling or democratizing effect. Rather, it tends to potentiate, centralize, monopolize and stabilize relations of power and domination, i.e. to expand the power and authority of already powerful actors—and thus to perpetuate and exacerbate imbalances and inequalities in society.
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Raising uncertainty and distrust of the direction of the world economy indicates a need for a simple metrics to determine whether entrepreneurial activity creates or merely extracts value. This work identifies best practices of value creation based on principles of sustainability, inclusion, and partnership on an intersection of a state and a company to help answer the research question: “How can a multinational enterprise create value-added using the innovative environment of the Czech Republic?” To reach the answer, the theoretical framework has been developed from a literature review, a subsidiary of the international enterprise was ana-lyzed together with innovative conditions in the Czech Republic, and all collected information was synthesized into a description of projects, which were planned by the company and were qualified to fulfill the goals of subvention programs. Creating value can be done either by rais-ing the quality of the product or by decreasing the price paid by stakeholders. Activities of states and companies should benefit a possibly broadest range of people and subjects who could bene-fit from the results of the efforts due to a decrease in the environmental burden, the creation of opportunities for qualified workers, and the overall functional upgrade of the economy due to technological progress. The studied subsidiary of transnational enterprise could contribute to value creation in Czechia in multiple ways. However, administrative issues and low experience with subvention applications complicate the use of the innovation system by receiving public funding for activities that might contribute to functional upgrading.
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Radiotelevisión del Principado de Asturias (RTPA) is the regional public service media company of the Principality of Asturias, an autonomous community in the north of Spain with a specific linguistic particularity: the existence of a language called Asturian. Not recognized as an official language in Spain, Asturian is considered a minoritized language since it coexists in diglossia with Spanish in the territory (see Álvarez Sancho et al. in LME 2023). For this reason, and in line with the social ecosystem in which RTPA operates, the media model implemented in Asturias pre-eminently broadcasts content in Spanish with some content broadcast in Asturian. Although prior literature recognizes and values the effort made by the public broadcaster in this matter (Cañedo 2018, 2019b), some critiques still linger from the Asturian-speaking sectors (Barreiro-Maceiras 2014, 2021; XDLA 2013a, 2013b, 2016). In this context, from the critical perspective of the Political Economy of Communication, this article decodes RTPA’s public value in its commitment with linguistic diversity from an audience perspective. Based on five focus groups with audiences representing Asturian society, the results show that the broadcast of content in Asturian language made by RTPA is highly valued and understood as an element enhancing the public value mandate. Audiences consider it important to be able to hear their language and their accent on television in a normalized way. Likewise, there is a generalized demand for a greater presence of the Asturian language in RTPA content, especially at an informative level and as a literacy tool.
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The article addresses the current discussion about values in general sense and about traditional spiritual and moral values in particular from the standpoint of modern social philosophy. The purpose of the study is to show the modernity, contemporaneity and consistency of traditional values in a specific historical situation. To do this, the author identifies the most significant aspects in the reflection on the concept, focusing on the social thought of the last few decades. The result of this is the explication of a specific understanding of values as autonomy only partially dependent on the context. The socio-philosophical discourse on values intersects with those more familiar to philosophy regarding the topic, i.e. axiological, political, ethical or aesthetic, but does not completely coincide with them. Its actualization was caused by the historical events, but it always had its groundings in theoretical contradictions that philosophy has faced. The article provides an outline of the position of values in socio-humanitarian thought, deconstructs some of the foundations of the hierarchy of values proposed by default within globalized thought. The author also demonstrates that posing the question about values in a national context does not contradict the theoretical foundations and the very tasks of philosophy. On the contrary, the need for philosophy, including social philosophy, to pose and answer the question about values is only increasing. On the base of a priori self-worth of traditional spiritual and moral values, the author concludes that one of the most important tasks of social philosophy is to actualize their content and ways of practical integration into modern life in accordance with the spirit and needs of the time.
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I take up the “modes of production” presented by Eric Wolf in Europe and the people without history as a set of tools for broad, systemic, and critical thinking about diversity and change in economic and political organization, including the changing forms of capitalist accumulation and the sources, and limits, of capital's planetary preponderance. I argue that Wolf's analysis centers problematics of “making,” “taking,” and “relating” that are necessary to critically assess how our collective capacities to create and destroy are mobilized, directed, and appropriated within and across polities, institutions, and circuits of value. I further argue for the importance of a fourth problematic, “planning,” highlighting the crucial political questions raised by the purposeful allocation of time, energy, and resources, as both actuality and potentiality.
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The Sustainable Development Goals (SDGs) see AI at their core, as it drives innovation across various sectors. Using the data from social, environmental, and economic domains, AI interventions can generate cross-cutting waves to drive the achievement of many of the SDGs together. This chapter focuses on the specifics of good health promotion as well as disease detection and prevention using artificial intelligence, with an emphasis on breast and cervical cancer. It also explores the role of AI in Africa in the development of proper institutions that are essential for peace, justice, and the rule of law. The chapter describes several topics, including the incorporation of AI with blockchain to improve voting systems and other essential fields.
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The changing architecture of global geopolitical and economic cooperation is generating growing interest in new strategic alliances among the fastest growing economies in the world, particularly among the BRICS countries, whose significance in the global economic space is of great importance. The increasing level of institutionalization of this union of states objectively contributes to the formation of closer and more numerous economic and social ties. This also applies to interactions within the development of sectoral economy. The article examines transformative factors increasing the density of effective interaction within the development of industrial economy using the example of the forestry complex. Integration cooperation within interactions of national economic systems is possible only under the conditions of strategic directions of marketing interaction and logistic constructive protocols forming a sustainable framework for the development of all directions of economic interaction between sectoral blocks.
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Every society is intrinsically driven to optimize its productivity and operational efficiency. Such endeavors not only elevate a society’s prominence in global markets but also bolster its economic prosperity. Historically, the venture to amplify wealth and ensure its conservation has remained paramount. Groups, or at times entire societies, merged their intellectual prowess and workforce to enhance productivity, transforming their inherent advantages, be it knowledge or natural resources, into marketable goods or services (Smith, 2002). Herein lies the essence of entrepreneurship. Entrepreneurship, at its core, symbolizes this collective ambition. It’s not just about wealth generation for individuals or shareholders; it encompasses a broader societal aspiration. Furthermore, the transformative role of leadership in this narrative is undeniable (Bass & Stogdill, 1990). Leaders, often being visionaries, are instrumental in fostering a conducive environment for entrepreneurial endeavors, driving innovation, and shaping market dynamics.
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Since the establishment of labour markets, work has been mainly valued and therefore paid according to its market value. Activities, such as cleaning, taking care of others, or restoring the environment have usually a lower market value than activities serving economic interests of people or firms, such as financial or legal services. This chapter explains how economic ideology has led to this situation and discusses two shortcomings of this value system. On one hand, it can deter individuals from using their skills for non-market activities. On the other hand, it can encourage market activities that may be detrimental for people and the environment. This chapter builds on a post-growth approach and clarifies the notions of essential work and detrimental work. It explains if, how, and when labour law should intervene in the value of work.
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The key stakeholders in green finance encompass both financiers and beneficiaries of funds allocated toward environmentally sustainable endeavors. Other stakeholders include local community groups as well as global communities impacted by the continuous degradation of the natural environment due to human activities, particularly those of commercial organizations driven by instrumental motives and lacking empathy for the detrimental effects of their activities on the natural environment. The underlying motivations of the stakeholders, particularly providers and users of funds, dictate their involvement in green finance. While the preservation of the natural environment stands as the primary altruistic motivation behind green finance, stakeholders are often influenced by factors beyond altruism. Stakeholders may prioritize instrumental objectives such as profit maximization or the execution of projects with high positive net present value. Consequently, conflicting interests among stakeholders may arise during the process of financing and utilizing green finance, contingent upon whether their motivations are driven by altruism or instrumentality. This chapter engages in a critical analysis of the motives and interests represented by the diverse stakeholders engaged in green finance. This chapter provides insights in relation to the motives of stakeholders involved in green finance. The chapter suggests that stakeholders reassess their interests and make concessions to reconcile their conflicting interest for the betterment of the common good, the natural environment that affects the well-being of communities around the globe.
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Los bancos públicos son dominantes, con más de 900 en todo el mundo, y poderosos, con activos que se acercan a los 49 billones de dólares. Sin embargo, con demasiada frecuencia se perciben como instituciones financieras estáticas, basadas en teorías económicas que parten de nociones fijas de lo que es ser un banco de propiedad pública. Esto ha dado lugar a un debate polarizado en el que los bancos públicos se caracterizan por ser esencialmente buenos o malos. Esto es poco realista y poco útil a la hora de buscar formas de hacer frente a las crisis financieras y de la financiación climática. En su lugar, necesitamos repensar los bancos públicos como instituciones dinámicas y disputadas dentro de las esferas públicas de los Estados. Desde este punto de vista, la propiedad pública en sí misma no predetermina nada, pero sí abre un ámbito público particular de posibilidades. El cambio se hace posible y es el resultado de las fuerzas sociales que lo hacen posible, aunque dentro de los límites estructurales de la sociedad capitalista dividida por género, raza y clase social. Una teoría dinámica de los bancos públicos ofrece una alternativa teórica novedosa y una vía práctica hacia la financiación de transiciones ecológicas y justas en aras del interés público.
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There are different ways of assessing the value of a broadcasting organisation such as the BBC. There is the economic value of the BBC which is determined in public opinion terms by whether the licence fee represents good value for money given the extent to which members of the public use its services. There is also the value that its viewers, listeners and readers attach to its various services in terms of quality of experience that might be determined by subjective perceptions of entertainment and/or information value of its programmes. Of course, the public is confronted increasingly with a range of new broadcast services for which they must pay directly. These services offer distinctive and increasingly well-funded and high-quality entertainment and information outputs. Where use of the BBC’s services has become significantly eroded for some individuals, their willingness pay even more to fund the BBC can also weaken if their use of its services has reduced to below a critical level. Ultimately, the BBC must continue to offer ‘value of experience’ to its audiences which they believe they cannot obtain anywhere else. This objective has become a growing challenge for the BBC as its own budgets have reduced while those of some of its major rivals have substantially increased.
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According to Nadine Dorries, when she was Secretary of State for Digital, Culture, Media and Sport, the BBC was a ‘global success story’ even in an ever-changing media ecology. Nevertheless, the time may have arrived for its funding model to be reviewed along with its future role within the British public service broadcasting system. TV streaming services had changed British audiences’ viewing and listening habits. The rising popularity of ‘on-demand’ services also indicated a shift in public mindset towards paying for their broadcasting services. Coupled with this change, younger generations of media consumers demonstrated a different orientation towards the BBC from their older counterparts. The BBC still had personal value for many British people and wider cultural value both at home and globally. These aspects of its value largely existed because of the nature of its funding which had protected its programme-making ethos and enabled it to make programmes wealthier commercial enterprises eschewed. British audiences indicated in different research studies that they were satisfied with programme standards on the BBC and with the diversity of its provision. A few sub-groups disagreed and wanted greater provision for their own communities. The BBC was especially valued for the quality and impartiality of its news reporting. Sounding a more negative note, however, its senior management had demonstrated shortcomings on a number of high-profile occasions in handling crisis events and called into question the efficacy of the BBC’s corporate and management culture. Audiences were turning to newer forms of ‘non-linear’ viewing with growing enthusiasm, especially younger audiences, but the BBC’s content still had traction in this setting both with its iPlayer service being widely used and the presence of BBC productions on global TV streaming services. The reality of the contemporary media marketplace was that the BBC was frequently outgunned in terms of its available production budgets in big genres such as drama. As streaming services also embraced news and sport more often, it could face significant competition for audiences even in those spheres in which it had previously excelled. As people were faced with making decisions between multiple subscription services, they were also likely to become more sensitive about any financial outlays for their audio-visual services. In this context, to retain the British public’s support and patronage, it would need to demonstrate its continued relevance and achieve this across different audience sub-groups to have any hope of retaining public funding.
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A credit card is a symbol of different types of consumer credit. Their use to satisfy consumer needs can trigger impulsive spending, often leading to addiction and even debt bondage. This study follows the activities of a credit card community in Indonesia and includes ethnographic fragments in which credit cards are not used for consumptive purposes but rather as productive business capital. Temporality, as a concept in the anthropological study of debt and credit, is used as a research framework as well as a strategy to comprehensively analyse the credit card algorithm from a cultural perspective, including the characteristics and functions of credit cards that are reflected in the decision-making of community members throughout the life cycle of the credit card, from application to business use, which enables this financial facility to provide benefits and maintain trust.
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Based on 7,939 business units in 36 companies, this study used meta-analysis to examine the relationship at the business-unit level between employee satisfaction–engagement and the business-unit outcomes of customer satisfaction, productivity, profit, employee turnover, and accidents. Generalizable relationships large enough to have substantial practical value were found between unit-level employee satisfaction–engagement and these business-unit outcomes. One implication is that changes in management practices that increase employee satisfaction may increase business-unit outcomes, including profit.
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The optimistic attitude of an employee’s experience based on their desired result is acknowledged as job satisfaction. This shows how the expectations of the employees for the job are fulfilled in comparison to the veracity of their job. There are six important facets of job satisfaction and these are- Salaries, Promotion opportunities, Supervision, Nature of work and Colleagues. The objective of this study is to identify the factors that affect the job satisfaction of employees and to analyze the impact of compensation, organizational policy, working condition, job stress, and promotion opportunities on the job satisfaction of employees. The findings of the study suggest that the taken factors have explained job satisfaction and the policy framers and managers have to think about the inclusion of the factors that affect satisfaction to enhance their business. The study suggests that working conditions, organizational policy and strategies, promotion, job stress, and compensation package are key factors of job satisfaction. Keywords: Organizational Policy, Employees Motivation, Job Satisfaction, Compensation Management, Promotion Opportunities The present work focuses on factors affecting job satisfaction.
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The paper presents key issues related to motivation in the workplace and its methodological aspects, giving special attention to an analysis of the classification of motivation factors. It describes the characteristics of major selected factors. The author proposes a new approach to factors based on the concept of the trichotomy of motivation factors in the workplace (work environment and work situations) which extends Herzberg’s two-factor theory. The concept identifies three groups of factors: “motivators” which, when they occur, lead to satisfaction, “hygiene factors” which, when they do not occur, lead to dissatisfaction, and “demotivators” which, when they occur, lead to dissatisfaction. Their vectors of impact are totally different, although they occur simultaneously in the workplace. Therefore, the presented concept constitutes a methodological directive which suggests the extension of the research area by including an analysis of factors which reduce motivation to work.
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In the context of continuing ecosystem degradation and deepening socio-economic inequality, sustainability scientists must question the adequacy of current scholarship and practice. We argue that pre-occupation with external phenomena and collective social structures has led to the neglect of people’s ‘inner worlds’—their emotions, thoughts, identities and beliefs. These lie at the heart of actions for sustainability, and have powerful transformative capacity for system change. The condition of people’s inner worlds ought to also be considered a dimension of sustainability itself. Compassion, empathy and generosity, for example, are personal characteristics that mark individual expressions of sustainability. Sustainability science must take inner life more seriously by considering how language shapes and is shaped by paradigms about the world, prioritising enquiry into how spirituality, contemplation and sustainability transformation relate, and encouraging scholars and practitioners to intentionally cultivate their inner worlds to strengthen inner resources necessary for addressing sustainability challenges.
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The objective of this study is to analyze the relationship between personal values and job satisfaction. For this, a multiple linear regression was made, whose independent variables were personal values and the dependent variable, job satisfaction. The data for this test were collected from the European Social Survey database (ESS, 2012) with a valid sample of 820 people (portugueses) who participated in a social survey which is applied annually in 20 European countries. From 4 assumptions made in the study, 3 were rejected, revealing that personal values and conservation of self-transcendence Don't have positive relation with job satisfaction, as well as the self-promotion of value does not have a negative and significant relation as suggested. The value of openness to change, however, showed a negative and significant relationship at 5%. The results suggested that personal values did not possess relevant explanatory power on job satisfaction, in this sample. Therefore, we suggest the inclusion of other variables in the model to provide better contribution to the literature about this theme, as well as for managers where they consider relevant employee satisfaction with their work.
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This study aims to introduce new insights regarding factors influencing employees’ level of training motivation through investigating the impact of job satisfaction dimensions (pay, fringe benefits, contingent rewards, promotion, supervision, co-workers, operating conditions, nature of work and communication) on training motivation.Data were collected from 342 participants from six Jordanian ministries. The multiple regression technique was utilized to examine the predictive power of job satisfaction dimensions on training motivation. At the next stage, three sequential MR analysis rounds were conducted, each time using a different construct of training motivation (valence, instrumentality and expectancy) as a dependent variable.The results indicate that the dimensions of job satisfaction explain a low but significant variance of the overall training motivation model. Furthermore, it was found that only three dimensions of job satisfaction (nature of work, supervision and co-workers) respectively had a positive and significant impact on training motivation, while contingent rewards had a significant but negative impact.Regarding training motivation constructs, results indicate that the nature of work and supervision were the elements that have an impact on all constructs of training motivation. Finally, it was found that co-workers and contingent rewards had a significant impact on the training motivation constructs of expectancy (confidence in ability to learn) and valence (the perceived value of training outcomes), but no impact on instrumentality (rewards associated with learning).
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Purpose The purpose of this paper is to identify the contextual work factors in Ethiopia and to evaluate the relative influence of each of these factors on job satisfaction (JS) of employees. Design/methodology/approach The study draws on a sample of shop floor workers from the leather products manufacturing industry in Ethiopia. Data were collected using a structured survey questionnaire and focus group discussions. After testing scale reliability and validity, multiple linear regression was used for the analysis. Findings The study results suggest that the JS is mainly explained by extrinsic factors. Pay is found to influence overall job satisfaction (OJS) at least four times of other work factors. Training opportunity and ethnic diversity showed unexpected negative relationship with OJS. Originality/value Given the importance of understanding JS in labor-intensive industries, and paucity of research on the topic in Ethiopia, the study provides practical insights and groundwork that can guide practitioners to understand the drivers of JS in the region. Moreover, the study adds to the empirical literature that may yield important insights on organizational behavior for under-researched emerging economies, particularly for the eastern part of Africa, where nations share similar cross-cultural norms, economic and ethnic settings.
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This study examines the relationships between joint work commitments, job satisfaction, and job performance of lawyers employed by private law firms in Israel. Based on Morrowʼs (1993) concept of five universal forms of commitment, their interrelationship was tested with respect to the commitment model of Randall and Cote (1991), which appeared to show in previous studies (Cohen, 1999, 2000) a better fit compared to other models. In addition, the study examined the relationship between the commitment model and work attitude and outcome, namely, job satisfaction and job performance. The results show that the commitment model of Randall and Cote was almost fully supported, except for the relationship between job involvement and continuance commitment. This relationship is better understood via career commitment. An interesting finding of this study is that job satisfaction has a mediating role in the relationship between joint work commitment and job performance. The article concludes with suggestions regarding further investigation of the interrelationships between work commitment constructs, and the relationship between joint commitment forms, job satisfaction, and job performance.
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The impact of Individual and structural determinants on job satisfaction are worth exploring in the context of employee turnover the variation in requirement and expectation of individual varies from person to person has a huge Impact on employee turnover. Individual determinants are of significant importance as it’s very specific to the person associated with the problem. Researchers are yet to find out a solution to address problem associated with Individual determinants. On the other hand structural determinants are more to do with the work setting and the place of the work. Organizations can clearly identify these issues and chalk out plans to address these issues. Most important aspect of turnover research is to find out how individual and structural determinants impact job satisfaction, as job satisfaction is one of the important determinants for understanding the employee turnover. The author would like to dissect Kim, Price Mueller & Watson(1996) Price and Mueller’s Model and study correlates , Individual & environmental determinants. Data were collected from a sample of 386 employees from binary solution. Binary solutions are the biggest distribution of Dell, HP and Lenovo in India. Also they have a back office for client’s servicing. Confirmatory factor analysis was performed to test the reliability and validity of the measurement model. The structural equation modeling technique using AMOS software is used to test the model. Finding revealed that the individual determinants i.e. job motivation and met expectation had positive relationship with process determinants i.e. job satisfaction. Few structural determinants i.e. autonomy, distributive justice, promo9tional chances and social support are also having the positive relationship with process determinants i.e. job satisfaction. But the two variables of structural determinants i.e. job stress and routinization is having the negative effect on process variable’s job satisfaction.
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Industrial and organizational (I-O) psychology, as a profession, stands on the verge of a new practical application of its expertise: the challenge of the reduction of world poverty. This goal emerged from I-O psychologists’ commitment to their discipline and its rich heritage. I-O psychology has developed a series of theories and methodologies that have altered the world of business and the working lives of millions over the course of a century. As a science, I-O psychology progressed as all science does: in incremental steps, each step building on the progress of the one just before it. We believe it is time to take the next leap, to become more international in our thinking and to apply our expertise to solve one of the major global problems of our time: poverty. In order to move forward, we must first look carefully at our history so as to use the gains we have already made to take our next and possibly greatest step. We see I-O psychology as perhaps the foundation stone of humanitarian work psychology, but also recognize that its own development has been influenced by other areas of psychology, and indeed by other disciplines (Berry et al., 2011). This chapter will, however, focus on the evolution of I-O psychology as it relates to the development of humanitarian work psychology.
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Purpose – The purpose of this paper is to study how high-involvement work systems (HIWS) affect job satisfaction, and tries to disentangle the mechanisms through which the effect occurs. Design/methodology/approach – The authors use data for a representative sample of 10,112 Spanish employees. In order to test the mediation mechanism implied by the hypotheses, the authors follow the procedure outlined in Baron and Kenny (1986). Given the nature of the dependent variables, ordered probit models were estimated to study the effect of HIWS on the mediating variables (job interest, effort and wages), and regression models were estimated to analyze the effect of HIWS on the final attitudinal variable (job satisfaction). Findings – Empirical results show that HIWS results in higher levels of effort, higher wages and perceptions of a more interesting job. Moreover, greater involuntary physical effort reduces job satisfaction while higher wages, greater voluntary effort, involuntary mental effort and having an interesting job increase job satisfaction. The net effect of these opposing forces on job satisfaction is positive. Research limitations/implications – The use of secondary data posits some constrains in aspects such as the type of measures or the failure to control for personal traits. Additionally, the non-longitudinal nature of the data set implies that some relationships cannot be considered causal in the intended direction. Practical implications – Managers should implement HIWS since in general they increase job satisfaction. A significant portion of this positive effect is channeled through perceptions of interesting job, higher wages and increased effort demands. Managers should pay attention to implementation issues. Originality/value – The paper contributes to enrich the understanding of the relationship between the HIWS and job satisfaction, proposing a model that aims to disentangle the mediating mechanisms through which HIPWS affect job satisfaction. Unlike previous attempts, this model integrates opposing views about the positive or negative effects associated with HIWS.
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Emotions are an important factor that affects employee performance; job satisfaction or dissatisfaction represent one of the important components of emotions. There are very few studies dealing with determinants that affect job satisfaction in the Czech Republic. The studies published so far show that the Czech Republic has ranked and still ranks among the states with the lowest level of satisfaction. The aim of this study is to answer the research question whether changing trends in the level of pay and fringe benefits correlates to overall job satisfaction, or satisfaction with pay and fringe benefits. Pay and fringe benefits are significant determinants that affect job satisfaction. The results of the study show that they lower the overall level of job satisfaction since the average level of these determinants is lower than the average level of overall job satisfaction. Overall job satisfaction is increased by other factors, such as supervision, co-workers, nature of work and communication, whose average level of satisfaction exceeds 4.00. Therefore, the emerging trend of rising pay levels is definitely good for increase the level of overall job satisfaction. On the other hand, it is impossible to prove that changing trends in pay correlates to overall job satisfaction, which is also significantly affected by other determinants. It would be suitable, within the framework of further surveys, to expand the area of examination to include additional determinants, such as family life satisfaction, or to examine how job satisfaction affects life satisfaction. The paper was written with the support of the specific project 2016 grant "Determinants affecting job satisfaction" granted by the University of Hradec Kralove, Czech Republic.
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