Article

Income from independent professional practice,

Authors:
To read the full-text of this research, you can request a copy directly from the authors.

Abstract

Thesis (Ph. D.)--Columbia University, 1946. Without thesis note. A description of the income structure of the professions of medicine, dentistry, law, accounting, and engineering during 1929-36. "Publications"; p. [595-599]

No full-text available

Request Full-text Paper PDF

To read the full-text of this research,
you can request a copy directly from the authors.

... The theory of human capital, first conceptualized in 1776 by Scottish Enlightenment economist Smith (1904), echoed by the 19 th -century philosopher Mill (2012), and developed further in the 20 th century by economists Friedman and Kuznets (1945) and Becker (1962Becker ( , 1994, affirms the power of education to shape the human mind and character through knowledge and intellectual, cognitive, and affective development (Mill, 2012;Smith, 1904). Recognized as an engine for economic growth, human capital powers productivity and economic gain in ways similar to financial and physical capital such as production facilities and equipment. ...
... Current research on educational attainment and lifetime earnings progresses in the footsteps of several seminal studies, and the first such study examining the impact of specialized professional training on earnings focused on the links between education and earnings payoff to the individual skill-holder. In their Five Professions Study, authors Friedman and Kuznets (1945) examined earnings of doctors, dentists, certified public accountants, engineers, and lawyers between 1929 and 1937. They also compared lifetime earnings of high school graduates with earnings of workers with baccalaureate, graduate, and professional degrees. ...
... The authors determined that in order to recover their cost of higher schooling, postsecondary degree holders would need to earn more than 70% above their high school graduate counterparts. They found that undergraduate and graduate degree holders' additional earnings far exceeded mere recovery levels: In fact, postsecondary graduates earned 2 to 3 times their high-school-educated counterparts, with the highest additional returns above the baccalaureate yielded by PhD and MD degrees (Friedman & Kuznets, 1945). Following Friedman and Kuznets (1945), Ben-Porath (1967) noted links between investments in human capital through education, onthe-job training, accumulating work experience and rising skills, and increased earnings over the life cycle. ...
Thesis
Full-text available
Media coverage continually reports on global macroeconomic shifts and technology trends, skill mismatches, and their impacts on US employment conditions and global economic competitiveness. Education research and employer surveys reveal that the skill gap in the United States spans across the realms of academic foundations, industry qualifications and technical competencies, higher-order cognitive skills, and behavioral skills and values: Recent US business, education, and military research has uncovered skill shortages spanning technical and industry-specific competencies, higher-order cognitive skills such as analysis, critical thinking, and synthesis, as well as behavioral skills and values such as work ethic, integrity, and good citizenship. These US findings are echoed by executive opinion surveys and policy research conducted by international researchers including OECD and the World Economic Forum. The social fabric and economic soundness of nations is closely tied to populations’ education and skills as individuals’ full economic and societal participation cannot occur without relevant knowledge and skills. Drawing on human capital theory, international studies of practical human capital conditions, and experiential-learning theory and practice, this dissertation offers educational strategies for cultivating the skills widely cited as needed but in short supply in US business, military, education, and policy circles. The purpose of this investigation was to identify key components of the two theoretical models of constructivism and constructionism which have been found to enhance children's intellectual and affective development and to apply these components to career instruction in postsecondary education settings. Through a critical analysis of existing theory and research related to human capital, constructivism, and constructionism, the components which might be logically applied to workforce development in postsecondary career education settings in the United States were identified. The goal of applying constructivist and constructionist strategies would be to empower postsecondary career learners to internalize their career fields' knowledge base and its practical applications as well as strengthen learners' analytical skills, creativity, perseverance, ethics, and behavioral workplace competencies. To accomplish this goal, seven core components were distilled from constructivism and constructionism: the whole person, knowledge structures, strategically prepared learning environments, the teacher as expert guide and subtle facilitator, experiential learning, social interaction and collaborative learning, and reflection.
... Adam Smith has already noted that the cost of education in a particular occupation affects average income. Friedman and Kuznets (1947) examined the incomes of different professions. They realized that wages are high in those occupations where entry costs must be compensated. ...
... позитиван. Често се среће пример Хенри Форда (Hanry Ford, 1863-1947, оснивач "Ford Motor Company". Он је први увео серијску производњу аутомобила, дневницу повећао са 2.34$ на 5$, смањио је број радних сати са 9 на 8. Идеја му је била да смањи одлив радника, јер се ефикасност постиже само запошљавањем и задржавањем оних најбољих. ...
Conference Paper
Full-text available
Recently, when analyzing the performance of trading companies, various multi-criteria decision-making methods are increasingly used individually or integrated. In this way, because several criteria are used integrally at the same time, it is better to get a realistic idea of the achieved performance compared to classical methods. Based on that, this paper analyzes the performance of trading companies in Serbia based on the DIBR and WASPAS methods. The results of the WASPAS method show that DELHAIZE SERBIA DOO BELGRADE is in first place. Next: LIDL SERBIA KD NOVA PAZOVA, MERCATOR-S DOO NOVI SAD, NELT CO. DOO BELGRADE, MOL SERBIA DOO BELGRADE, PHOENIX PHARMA DOO BELGRADE, MERCATA VT DOO NOVI SAD, OMV SERBIA DOO BELGRADE, LUKOIL SERBIA DOO BELGRADE and KNEZ PETROL DOO ZEMUN. Foreign retail chains are better positioned than domestic ones. They apply new business methods (multichannel sales - store and electronic, private label, sale of organic products, etc.) and the degree of digitization of the entire business is greater. Overall, under the positive influence of numerous macro and micro factors (favorable economic climate, efficient management of human resources, assets, capital, sales and profit, digitization of the entire business, etc.), the performance of trading companies in Serbia has improved. Keywords : performance, efficiency, factors, DIBR and WASPAS method, Serbian trade
... Adam Smith is the first economist to discuss schooling. Friedman and Kuznets (1939) used the discounted value of future earnings to explain the incomes of doctors and dentists. We had an early display of age-earnings profiles in the work of Soviet economist Strumilin (1924) who made estimates of the benefits of education based on his analysis of a Leningrad factory. ...
Article
Full-text available
As we celebrate anniversaries of seminal works by Psacharopoulos, Mincer, and Becker, it is important to trace the evolution of the returns to education. The 20th century witnessed an educational revolution, with global average years of schooling rising from less than 2 in 1900 to over 7 in 2000. Cost-benefit analyses estimate returns to education, showing an average of 10 percent, higher for women and in lower-income areas. The canonical model suggests individuals respond to returns, influencing educational choices. Social returns to education extend beyond private gains, impacting crime rates, economic growth, and environmental health. The intricate interplay between private and social returns underscores the multifaceted nature of education's impact on individuals and societies. Keywords: Return to schooling; wages; social returns
... Adam Smith has already noted that the cost of education in a particular occupation affects average income. Friedman and Kuznets (1947) examined the incomes of different professions. They realized that wages are high in those occupations where entry costs must be compensated. ...
Conference Paper
For a long time, economic theories did not deal with wages and differences in wages. My main goal is to present Mincer's wage equation and the criticisms of his theoretical and empirical research. After that, I examine how different authors felt about wages, wage determination, and the reasons for wage differences. In connection with the analysis framework, I set out to distinguish two main factors: external and internal (individual) factors. Within the external factors, I examine the studies that analyze how region, industry, sector (private or public), city sizes, company sizes, and unions affect wages. Within the internal factors, I focus more on articles that deal with the influence of education, ability, age, race, gender, and marital status.
... Moreover, from an economic perspective, professional licensing artificially restricts the supply of services and raises prices (Friedman and Kuznets 1954). Indeed, many critics charge that professional self-regulation inhibits competition, is unable to regulate transnational work effectively, and facilitates professional misconduct (Adams 2016, p. 70). ...
... The impetus for regulating occupations derives from its capacity to address market failures arising from information asymmetries between consumers and practitioners. However, occupational licensing may also result from the efforts of organized interest groups to restrict entry and increase the wages of licensed workers ( Friedman and Kuznets, 1954;Stigler, 1971 ). Since licensed professions are largely self-regulated, entry standards may be set too high, relative to the social optimum ( Akerlof, 1970;Shapiro, 1986 ). 4 In practice, the two motives for regulation are not mutually exclusive and are both consistent with a wage premium for licensed workers, which has been well documented in the literature. ...
Article
Full-text available
We study how licensing, certification and unionisation affect the wages of natives and migrants and their representation among licensed, certified, and unionized workers. We provide evidence of a dual role of labor market institutions, which both screen workers based on unobservable characteristics and also provide them with wage setting power. Labor market institutions confer significant wage premia to native workers (4, 1.6, and 2.7 log points for licensing, certification, and unionization respectively), due to screening and wage setting power. Wage premia are significantly larger for licensed and certified migrants (10.3 and 6.6 log points), reflecting a more intense screening of migrant than native workers. The representation of migrants among licensed (but not certified or unionized) workers is 15% lower than that of natives. This again implies a more intense screening of migrants by licensing institutions than by certification and unionization.
... Véase Friedman & Kuznets (1937, 1938, M.Friedman & S. Kuznets (1939). ...
Article
Full-text available
El pensamiento de Milton Friedman en el marco de la escuela de Chicago
... Les pages 223-237 de son ouvrage sont une réécriture très maladroite de son travail doctoral. L'Encadré 1 en rappelle les grands les principes [6]. Dedans, M. Friedman très appliqué, mais modéré par ses pairs, a dû tirer un trait sur ses intuitions (se rapporter précisément à la sect. ...
Article
Résumé La pandémie de coronavirus a fait réapparaître la question de la solidité de nos systèmes de santé et plus largement la fragilité de leur construction économique sur un modèle de rationalité de la consommation médicale. Cet article revient donc au XXe siècle sur les premiers travaux de M. Friedman concernant sa représentation de la concurrence sur le marché des soins médicaux. L’objectif de ce feuilleton médico-économique était de mettre l’accent, moins sur le conflit l’ayant opposé à l’American Medical Association, que sur ses jugements hâtifs des années soixante sur les facteurs d’équilibre influençant l’offre et la demande des services de santé. Ce contre-argumentaire tourné vers l’histoire américaine déconstruit donc, sans antipathie envers l’économiste, son exposé anti-licence médicale parut dans son ouvrage Capitalisme et Liberté en 1962. Ce travail insiste, au-delà de la complexité juridique des lois de « de-licensing » adoptées dans certains États américains, sur les conséquences d’une concurrence parasitaire sur l’éthique du soin.
... However, from the outset, the role of professions in society was not seen as a positive force by everyone, in fact, the professions were considered by some as a threat to freedom, in terms of new power centres. The liberal economists, (S. Kuznets and M. Friedman, 1945) above all, saw the professions as monopolistic oligarchies, which could lead to a disastrous distortion of the market. These authors believed that the client's interests could be best looked after by weakening the professional monopolies. ...
Book
Full-text available
The aim of this research is to investigate developments in public librarianship in a period of fundamental change which took place in the first half of the nineties. Within the framework of the sociological approach to the study of occupations, an attempt is made to understand how the profession responded to changed circumstances due to external political and economic pressures. The general hypothesis is that the librarian’s process of adaptation to new cultural and technological conditions has, in the last decade, undergone rapid acceleration because of political reforms and economic constraints which seemed to have the potential to undermine the distinctive identity of the profession. Financial pressure, government reforms, emphasis on accountability, competition, cost-effectiveness and consumer choice reshaped the internal organisation of library work and questioned the principle governing quality of library service. The conflict between the economic criteria for the establishment of the aims and objectives of the library service and the statutory duty to provide a “comprehensive and effective” service to the public created a feeling of uncertainty and lack of confidence in those who had to carry out those tasks. The librarians’ traditional orientation to service, their qualifications and competence seemed no longer sufficient to ensure either user satisfaction or public benefit. The purpose of this research is to draw a picture, from the testimonies of professional librarians, manager librarians, politicians and administrators, of how public librarianship has changed its internal organisation, its relationship with the public and its professional practice and culture. The focus of analysis can be grouped into the following areas of investigation: the organisational context, the working context and finally the institutional context where the legitimacy of the librarian’s status and competence is brought into question.
... The research on vocational qualification certification can be divided into "personal interest" theory [3][4][5] and "public interest" theory [6][7][8]. According to the theory of personal interest, the strict VQCS artificially restricts the supply of labor force and sets a threshold for entry into the industry. ...
... After the Second World War, for the World Health Organization 9 health became a necessary, and an indispensable condition for production making the management of health a priority for governments. 10,11 Human capital 12 and health care, 13 the two historically large branches of the field, have yielded a large number of topics of interest in the most recent studies: social determinants of health, health systems and their institutional assessment, the supply and demand of health services, pharmacoeconomic, health technology assessment, and the analysis of incentives and behaviour of the agents that participate in the production of health. ...
Article
Full-text available
Objective: To identify the characteristics, motivations and employment implications ç among graduates of Masters programmes in health-economics (MPHE). Method: The most renowned MPHE in Spain were contacted to assist in this research study. Participants submitted an online survey comprising 30 items designed specifically for the purpose. Our sample consisted of 439 graduates. Different statistical analysis, including a logistic model, were performed to describe the sample. Results: The main motivation for undertaking an MPHE is academic, and to acquire new or enhance previous knowledge. The general profile of graduates is that of a woman aged 37.8 and a health professional. Those looking for a job in Health Economics generally found employment in the first (54.9%) or second year (29.7%). MPHE were very highly assessed. The most useful subject was health management (46.3%). Conclusions: Undertaking an MPHE is a good investment because most of the graduates believed that their training enabled them to find a job. The graduates showed a high degree of confidence in the usefulness of the training. MPHE are highly evaluated irrespective of consequent employment. The subjects in which the curriculum vitae of the health professionals were weaker, such as those concerning management, were evaluated the highest as they were assumed to enhance promotion opportunities.
... The main argument in favour of regulation is to provide a minimum level of quality. A layman is often not able to objectively judge the quality of services provided by professionals like architects and engineers (Friedman and Kuznets 1954). This may result in prices that do not reflect the true valuation of consumers. ...
Preprint
Full-text available
We exploit an exogenous price increase by about 10% for architectural services to answer the question how price regulation affects income inequality and service quality. Using individual-level data from the German microcensus for the years 2006 to 2012, we find a significant reform effect of 8% on personal net income for self-employed architects and construction engineers. This group moved from the second lowest to the highest quintile of the net income distribution. This increase in inequality is associated with a deterioration of service quality. The reform reduced average scores of a peer ranking for architects by 18%.
... Ο αντίλογος στην άποψη περί της χρησιμότητας των περιορισμών στα επαγγέλματα είναι πρωτίστως ότι η ρύθμιση των ελεύθερων επαγγελμάτων περιέχει μέτρα που μειώνουν τον ανταγωνισμό, και επιπροσθέτως ότι η ποι- ότητα των παρεχόμενων υπηρεσιών εξασφαλίζεται από τις ρυθμίσεις για την είσοδο στον κλάδο αναφορικά με την εκπαίδευση και κατάρτιση του επαγ- γελματία. Βάσει του αντίλογου αυτού, η επιβολή περαιτέρω ρυθμίσεων που ενεργούν περιοριστικά στις αμοιβές ή στο πλήθος των ατόμων που ασκούν το επάγγελμα μπορεί να εξηγηθεί μόνο από τη δράση συγκεκριμένων ομάδων πίεσης που αποσκοπούν στη μεγιστοποίηση των εισοδημάτων τους (Friedman και Kuznets, 1945). ...
... Moreover, from an economic perspective, professional licensing artificially restricts the supply of services and raises prices (Friedman and Kuznets 1954). Indeed, many critics charge that professional self-regulation inhibits competition, is unable to regulate transnational work effectively, and facilitates professional misconduct (Adams 2016, p. 70). ...
... Far more work needs to 3 Cf. Friedman and Kuznets [1945], Friedman [1953], Weiss [1972], Becker and Stigler [1974]. ...
Article
Full-text available
Labour productivity is one of the key indicators, which dynamics helps to determine whether an economy is efficient and competitive, but most importantly, it allows to evaluate the general state of a society. This research focuses on social factors behind its growth or decline, or those preconditions that deal with the human component of productivity - the direct labour. The drivers of the human capital growth play the leading role in this group of factors, which also includes demography, migration, culture and labour market institutions. Human capital is a driving force of innovative economy, as well as economic and technological development. This has determined how important it is to study all of its components, including public health, quality of education, professional qualification, performance motivation, which are at the focus of this research. Our analysis, based on OECD member states, shows that the labour productivity does not solely depend on whether educational potential and professional qualifications are efficiently employed and improved. To a large extent the labour productivity depends on whether individuals take part in production activity and enjoy it, whether they are engaged in interesting and socially useful work and focus on creating quality products. These attributes are referred to as soft skills. Along with education and additional professional training, they form an invisible part of human capital which is a major prerequisite for the growth of labour productivity. However, high-quality education and prime professional qualifications, as well as efficient state and social institutions could become insignificant in case an individual is incapable to work with maximum performance due to health problems. Although it is hard to quantify health influence on productivity, it is clear that labour and cognitive abilities, psychological resilience and motivation depend on an individual's physical state and health. Therefore, public health, like knowledge, is a necessary basic component on a country's path to wellbeing.
... Thus, the existence of better job opportunities creates incentives for human capital investment. Friedman and Kuznets (1945) implicitly recognized investment in human capital as a determinant of income and wealth. Like other investment decisions, if expected returns to human capital investment are higher than the costs incurred in the investment, then one would respond *Assistant Professor, Graduate Research Assistant, Full Profes:Ior and Associate Professor, respectively. ...
... Finally, numerous studies have demonstrated the problems which arise when the state abstains from interference with, or participation in, private industries.Wilson (1980); Feintuck (2004)Baldwin and Cave (1999) all suggest that adopting a laissez faire approach to regulation may result in market abuse by monopoly power, information asymmetries and negative externalities. Without government intervention, powerful firms can earn supra-competitive profits to the detriment of the public interest(Friedman and Kurnets 1945; Ogus 1995;Shilling and Sirmam 1988) by erecting barriers to restrict entry and support anti-competitive practices. ...
Article
Full-text available
This paper provides the first insights into the factors that may drive the resilience of command and control regulation in modern policy making. We show how the forces of uncertainty and internal dynamics among customers, producers and regulators are the most dominate factors preventing the adoption of non-CAC regulations. Using case study evidence of internet regulation, we then integrate our analysis into the most prominent regulatory choice behavior theories and illustrate that regardless of the theory, these factors can help explain the dominance of command and control as a choice of regulation.
... For example, rather than take an equity stake in a company per se, investors may wish to identify a continuously successful parallel entrepreneur and take an equity stake in his or her future earnings. Th is model, known as a human capital contract, has long been advocated by a number of leading economists, including Milton Friedman (Friedman and Kuznets 1945 ) and has the potential to provide much-needed capital to capable parallel entrepreneurs. ...
Chapter
Full-text available
The study of entrepreneurship in general has drawn large interest over the last decade, and the specific subject of parallel entrepreneurship is no exception. Parallel entrepreneurship, or concurrent entrepreneurship, is the simultaneous ownership of at least two business ventures. It is found all over the world but is particularly evident at the international level, in the form of conglomerates. It has been argued that entrepreneurs owning several enterprises at the same time are more experienced than their peers operating single businesses and that studying this particular business model can enhance understanding of entrepreneurship more generally. This chapter identifies some of the most salient factors related to parallel entrepreneurship—factors that, if better understood and supported, have the potential to make a significant contribution to the economic transformation of developing economies. It also explores the contextual factors contributing to the growth of entrepreneurship in Africa and the prevalence and implications of parallel entrepreneurship. It concludes with a number of recommendations on how to support and develop parallel entrepreneurship in the future.
... Ο αντίλογος στην άποψη περί της χρησιμότητας των περιορισμών στα επαγγέλματα είναι πρωτίστως ότι η ρύθμιση των ελεύθερων επαγγελμάτων περιέχει μέτρα που μειώνουν τον ανταγωνισμό, και επιπροσθέτως ότι η ποι- ότητα των παρεχόμενων υπηρεσιών εξασφαλίζεται από τις ρυθμίσεις για την είσοδο στον κλάδο αναφορικά με την εκπαίδευση και κατάρτιση του επαγ- γελματία. Βάσει του αντίλογου αυτού, η επιβολή περαιτέρω ρυθμίσεων που ενεργούν περιοριστικά στις αμοιβές ή στο πλήθος των ατόμων που ασκούν το επάγγελμα μπορεί να εξηγηθεί μόνο από τη δράση συγκεκριμένων ομάδων πίεσης που αποσκοπούν στη μεγιστοποίηση των εισοδημάτων τους (Friedman και Kuznets, 1945). ...
Article
Full-text available
RESUMO: As leis da distribuição sempre foram o cerne da preocupação da economia enquanto ciência. A recente retomada da discussão da concentração de renda no mundo colocou em evidência a discrepância da desigualdade entre ricos e pobres, Diante disso, julga-se necessário explorar o entendimento da economia sobre a temática, e, assim, objetiva-se sintetizar a tratativa da distribuição da renda nas diferentes abordagens econômicas, de modo a contribuir para o entendimento da distribuição no funcionamento da economia. Conclui-se que é um desafio para a ciência econômica, em geral, efetuar a relação dos aspetos teóricos com a pesquisa empírica, que ganhou mais dinamismo a partir de meados do século XX. ABSTRACT: The laws of distribution have always been at the principal problem of the economy's preoccupation as a science. Recently the discussion of income concentration in the world has highlighted the discrepancy of the inequality between rich and poor, Therefore, it is considered necessary to explore the understanding of economics on the issue, thus, this paper aims to synthesize the treatment of income distribution in the different economic approaches, in order to contribute to the understanding of the distribution in the running of the economy. It has been concluded that it is a challenge for economic science to relate theoretical aspects to empirical research, which has gained more dynamism since the mid-twentieth century. INTRODUÇÃO Como afirmou David Ricardo (1817), as leis da distribuição são o principal problema da Economia Política. Embora inúmeras vertentes econômicas abordem este tema, seja de maneira direta ou indireta, de distintas formas e perspectivas, a questão da distribuição da renda, bem como da redistribuição, para além de atributos éticos, representa não só o objetivo da ciência econômica, mas um importante determinante do comportamento econômico em geral. Encontra-se na literatura a distinção de análises que separam aspectos positivos e normativos da distribuição da renda. A saber, o prisma do estudo normativo se dá mais na investigação das políticas de redistribuição, no sentido da equidade e justiça social. Já a ótica positiva debruça-se na forma pela qual se dá a distribuição da renda dentro dos sistemas de produção. (SANDMO, 2015). Dentro do aspecto positivo, os esforços da ciência econômica centraram-se, ao longo de grande parte de sua história, na análise do problema da distribuição da renda ante a perspectiva funcional, ou seja, sobre como se dava a repartição da renda total entre os detentores dos fatores de produção, cuja gênese está na teoria clássica a partir de Adam Smith. De acordo com Sandmo (2015), a distribuição funcional da renda sempre se manteve no berço teórico dos clássicos, já a análise pessoal da renda nasce de evidências empíricas como os trabalhos de Pareto (1906) e Kuznets (1955). Esforços teóricos e empíricos mais recentes, principalmente a partir dos anos 1980, de
Article
Termin profesje albo grupy profesjonalne odnosi się do pewnych specyficznych grup zawodowych. Charakterystyczną, ale nie jedyną cechą profesji jest świadczenie przez nie usług o wysokim stopniu asymetrii informacyjnej: przeciętny klient nie potrafi ocenić jakości usługi. Klasycznymi przykładami grup profesjonalnych są lekarze i prawnicy, ale wiele innych grup zawodowych wykazuje przynajmniej niektóre cechy profesji. W opracowaniu podjęto próbę podsumowania i oceny dorobku teorii ekonomii w zakresie analizy działania grup profesjonalnych, w szczególności uzasadnienia i skutków ich autonomii regulacyjnej. Literatura teoretyczna została omówiona w podziale na trzy obszary: grupy profesjonalne a bariery wejścia do gałęzi, organizacja profesjonalna jako gwarant jakości i działanie organizacji profesjonalnych a możliwe interwencje rządu. Przedstawione w artykule badania teoretyczne wskazują, że jakkolwiek istnienie organizacji profesjonalnych ma w pewnym sensie uzasadnienie ekonomiczne, to organizacje takie mają skłonność do tworzenia barier wejścia. Państwo nie powinno całkowicie wycofywać się z regulowania rynków profesjonalnych. W artykule zasugerowano też możliwe kierunki dalszych badań nad profesjami.
Book
Full-text available
Monografia je syntetickou interdisciplinárnou autorskou prácou, podávajúcou pohľad na vzdelávaciu politiku zo zorného uhla všetkých relevantných vedných odborov. Nekladie si za cieľ byť koncepčným materiálom pre reformy vzdelávania, aj keď nevylučujeme možnosť, že môže byť inšpiráciou aj pre inštitúcie, zodpovedné za vzdelávaciu politiku. Monografia napriek tomuto svojmu často polemickému zameraniu (a vlastne práve vďaka nemu) je však určená širokej odbornej verejnosti, ktorá sa zaoberá vzdelávaním v rôznych súvislostiach svojho teoretického i praktického záujmu.
Thesis
Full-text available
En el transcurso de esta investigación se abordan temáticas que actualmente se encuentran sobre la mesa de debate en relación al mercado laboral en España. Su objetivo principal es el estudio de la movilidad que los distintos colectivos de trabajadores tienen en función del cambio de sector de actividad y de provincia, como forma explorar los procesos de ajuste estructural que se han ocasionado a partir del año 2007. La perspectiva de análisis que se ha utilizado mantiene como punto de referencia central la segmentación de los mercados laborales y se ha servido de la aplicación de novedosas técnicas de construcción y análisis de datos sintéticos.
Preprint
Full-text available
The publication "Regulatory experimentation as a tool to generate learning processes and govern innovation - An analysis of 26 international cases" compares 26 international cases of regulatory experiments. The considered experiments are described and first implications for the implementation of future regulatory experiments are formulated.
Article
On the example of four micro-plots, the key theses of the economic views of the Nobel laureate S. Kuznets have been revealed. The main papers of Kuznets and his supervisor – W. K. Mitchell have been analysed, the reception of methods used by S. Kuznets in the prospect of economic theory has been traced. The reception of the mechanics of S. Kuznets’ research in modern political economy theory, referring to the research of D. Acemoglu and J. Robinson has been considered. In Appendix to this paper, a brief analysis of the political interpretation of the S. Kuznets cycle theory, proposed by D. Acemoglu and J. Robinson has presented. The research presented in the article summarizes the experience of research on economic views of S. Kuznets and emphasizes the prospect of using the author’s experiential optics.
Article
Full-text available
Time" is an important socioeconomic concept. Different societies perceive time differently. Within any given society, groups may differ one from the other on the way how each perceives time. Further more, the same individual may conceive time differently under different situations. These differences may have far reaching socioeconomic consequences by shaping attitudes towards work, leisure and planning. Therefore, understanding how people in different cultures reckon time may serve as a foundation to study the socio-cultural factors of development. This article tries to explore different conceptions of social time and their possible socioeconomic implications.
Chapter
Full-text available
This chapter is devoted to the impact on competition which may result from the deregulation of professions (reducing occupational licenses). The reduction of occupational licenses affects various professions to which entry and activity is restricted. In this chapter we describe how the newly born free market economy started from laissez faire approach and ended up with over-regulation of profession within 25 years. We give an overview of literature, which purports to understand the phenomena of regulation of professions. Then we concentrate on describing the historical developments within three professions, namely civil notary, tourist guide and taxi driver in Poland. We observe the role of several counterparts in the process of regulation and deregulation of those professions, in particular the position of competition authority in Poland.
Chapter
This paper examines the returns to education with respect to three labour market outcomes namely wages, employment and occupation using the National Sample Survey Office (NSSO) 68th round (2011–12) data. Wage equation (without selection bias) results point to the fact that returns to education increase at an increasing rate as the level of education increases and the impact of education is found relatively higher in the case of urban than rural areas. In case of employment, the study finds that compared to illiterates, the chances of higher educated people going to agriculture sector is less. This is true even in the case of rural areas whereas the interactive variable (education with rural dummy) is found negatively associated with employment in agriculture sector. Occupation results suggest that there is a strong association between higher education (under graduate and graduate and above) with professional occupations and less with agriculture and fishery and unskilled occupations, suggesting the need for improving education and creating quality employment opportunities in the rural areas that may help in arresting the growing urban burden.
Conference Paper
Full-text available
Макроикономиката е сравнително нов дял на икономическата наука, който се развива изключително динамично, особено след нейния „златен век“, когато през 60-те години на ХХ век се заражда школата на неокейнсианците, които подлагат на остри критики, силно опониране, дори отричане на кейнсианските тези. Както подобава на фундаментална икономическа дисциплина, усвояването на подходите и методите за макроикономически анализ във висшите училища е от първостепенно значение не само за разширяване на познавателните възможности на макроикономиката като наука, но така и за овладяването на ключови компетенции в икономическата професионалната със специалност „макроикономист“. Това налага концептуално рамкиране на основните въпроси, свързани с преподаването на макроикономика в теоретичен, приложен и интердисциплинарен аспект, което улеснява разбирането на „изкуството да се ръководи голямо стопанство“, особено днес, приличащо много повече на висша математика, отколкото на икономиката на Смит и Рикардо от 18. век.
Article
Full-text available
В статията са разгледани принципните особености и характерните черти на противоположните парични режими на таргетиране на инфлацията и паричния съвет в Чехия и България. Въз основа на спецификата на двата парични режима са изведени ограниченията пред съвместното провеждане на фискална и парична политика, както и предпоставките за координиране на макроикономическата политика и възможностите на правителството и централната банка в Чехия и България за провеждане на стабилизационна фискална и парична политика. Основният извод, който се налага от сравнителния анализ, е, че запазването на стабилността на двата парични режима изисква поддържане на ниски инфлационни очаквания и намаляване на икономическите разходи вследствие на прекомерното ускоряване на инфлацията, което налага следване на координирана по същество антагонистична макроикономическа политика.
Article
In this paper, a model is developed to investigate whether theft can be economically rational. It is shown that heterogeneity in capital accumulation rates (or 'learning ability') cannot create any noticeable difference in incentives to steal. Further heterogeneity in instantaneous opportunity cost is both too low and runs in the wrong direction to have any explanatory role. However, heterogeneity in discount rates in combination with differences in initial human capital can create an incentive for theft. The model is calibrated from the National Longitudinal Study of Youth 1997 with data from 1997 to 2011.
Article
Full-text available
The idea of financing higher education with the income that comes afterward has been formally proposed and implemented in the United States, in various permutations, since at least 1971. The attractiveness of the concept is exemplified by the political diversity of its proponents, ranging from Senator Ted Kennedy to President Ronald Reagan, and from presidential candidates Michael Dukakis (Democratic governor who ran in 1988) to Jeb Bush (Republican former governor who ran in 2016). This article examines the design of the various proposals over time, the arguments in support and opposition, and the current state of affairs.
Article
Full-text available
In this article, we examine organizational reactions in the Russian third sector to adoption of the so-called "Foreign Agents" law in July 2012. Within the framework of organizational and resource dependence theories, we analyze state "licensing" policy in relation to civil society organizations and the tightening of regulation in the sector. We propose a typology of NGOs based on resource flows and rules of access, enabling a comparison of the organizational reactions of Russian NGOs to the new regulations. The study is grounded empirically in interviews with 19 representatives of NGOs in nine regions, along with data from internal documents, official statistics, and media reports. Our main argument is informed by the open systems theory of organizations, positing that growing state intervention in the third sector increasingly impacts NGOs' organizational features, regardless of type. The imposition of a listing of organizations "with foreign agent functions" has affected relations between the state, business, and the third sector, limiting access to resources for the latter. Measures like presidential grants and subsidies to compensate for resource shortfalls tend to be conditional, for example, on political loyalty. More generally, these environmental changes have hindered the capacity of third sector organizations to sustain professionalization. However, Russian NGOs have demonstrated considerable resilience in adapting to these changes through diffusion of organizational forms to minimize the costs of new legislation.
Chapter
It is not difficult to detect in these revealing lines a self-portrait of their author. Keynes used them, however, as a spring board for his analysis of Marshall’s ‘double nature’. Surely many economists (including perhaps our protagonist) would balk at the incongruity of a comparison between Arrow and Marshall. We are, of course, referring to the ‘Vision’ or Weltanschauung of the economists and not to their methods or products.1 Moreover, it is probably futile to compare the intellectual make-up of economists primarily, but not only, because of differences in historical setting as well as cultural, educational, genetic, and psychological influences. However different they are, neither Marshall nor Arrow (and for that matter, not even Keynes) can be credited with all of Keynes’s ‘ideal many-sidedness’, though each possesses the quality albeit in different configurations.
Chapter
Hermann was born in Dinkelsbuhl, Germany. His career spanned the half-century or more in which German economics came to terms with English classical political economy, first welcoming it and then rejecting it, particularly in its Ricardian variety. After teaching mathematics in a secondary school, Hermann was appointed to the chair in what was still called Kameralwissenschaften [Cameralism] — an old title soon to be discarded — at the University of Munich in 1827. He made his reputation with Staatswirthschaftliche Untersuchungen [Investigations into Political Economy] (1832), a book which owed much to The Wealth of Nations but little to the writings of either Malthus or Ricardo. The book was organized around the simple but appealing idea that all economic variables are the outcome of the forces of demand and supply, so that economic analysis consists essentially of an investigation of the factors lying behind demand and supply. The book revelled in endless definitions and classifications of types of goods, wants, costs, capitals, and so on, but did not clutter the analysis with endless attacks on the deductive method of the English school. Together with Rau (1792–1870), Hermann thereby laid the foundations on which Mangoldt (1824–68) and Thünen (1783–1850) were soon to build a German brand of classical economics. No wonder Marshall much admired ‘Hermann’s brilliant genius’ and frequently quoted Hermann’s treatise in his own Principles of Economics (1890).
Chapter
Wages (or earnings) are probably the most important variable together with employment in labour economics. A large number of studies associated with labour are concerned with wages and/or employment (and thus unemployment). Wages play a central role in the determination of both the supply and the demand for labour, which determine both employment and unemployment through market forces. Also, wages can be regarded as the most important source of individual (or household) income which determines the well-being of individuals. However, qualifications of employees and contributions to a firm are quite different. Thus, it is natural that an employer pays different wage levels among various employees. The current book is concerned with the latter aspect, namely, ‘how wages are distributed and differentiated among wage earners’, as the central subject. Its emphasis is an international comparison of occupational wage differentials. We examine the following eight countries for our comprehensive comparison: Japan, (South) Korea, the USA, Canada, Australia, the UK, Germany and France. Motivations for choosing these countries will be described later in this chapter.
Chapter
According to many economists the Great Moderation was supposed to last. However, in September 2008, the Great Recession broke out when Lehman Brothers, a New York-based investment bank, collapsed and the Great Moderation ended abruptly. The author’s summary of New Yorker staff writer John Cassidy’s How Markets Fail (2009) provides a sobering insight into the failure of neoclassical economics to predict or to prevent the Great Recession. Cassidy underscores the damage done by the process of deregulation of America’s financial sector. The neoclassical assumptions of economic subjects’ rational behaviour and of the functioning of markets are scrutinised by Cassidy, while confronting the neoclassical theory (which he calls utopian economics) with what economists belonging to other schools of thought have to offer. A brief biography of John Cassidy completes the chapter.
Chapter
The consequences of the Great Depression led many, including writers and scholars, to believe that the capitalist system was doomed. The author summarises Joseph Schumpeter’s classic Capitalism, Socialism and Democracy (1942) in which not only the term ‘creative destruction’ is elaborated but also capitalism’s built-in decline and fall. Schumpeter wonders whether socialism is a viable system to replace capitalism. It is, says Schumpeter, provided quite a few conditions to make it work are in place. The author also provides a summary of Karl Polanyi’s The Great Transformation (1944) in which Polanyi analyses capitalism’s annihilating tendency. Both summaries are preceded by biographies of Schumpeter and Polanyi.
Chapter
The author notes that the Great Recession triggered criticisms from economists about the capitalist system. Some criticism is directed against austerity policies applied by some governments in countering the recession, arguing that a Keynesian approach would have been better. Others point at the monetary instability of the eurozone, while still others, in particular Thomas Piketty, express grave concern about the widening gap between the haves and have-nots, including the potential dangers involved. An extensive summary of Piketty’s Capital in the Twenty-first Century (2014) is included in this concluding chapter. The author describes the main positive and critical observations about Capital as well. The chapter includes a biography of Thomas Piketty.
Chapter
After inflation was brought under control and employment improved, the Great Moderation started around the middle of the 1980s. This chapter contains a summary of sociologist Peter Berger’s book The Capitalist Revolution (1986), in which he analyses 50 propositions about prosperity, equality and liberty. Berger concludes that capitalism scores better than any other system in terms of economics, political liberties, individual autonomy and human rights. Growth and development also improved in developing countries. Economic historian Douglass North contributes fresh insights to the factors that promote—or hinder—growth and development. Throughout history, stagnation was the rule; growth was the exception and institutions explain why that is, says North. A summary of his Institutions, Institutional Change and Economic Performance (1990) is included, as well as biographies of Berger and North.
Chapter
The postwar period was one of affluence, triggered by pent-up demand, Marshall Plan-funded reconstruction, a stable international monetary system and Keynesian economic policies. The author presents summaries of two books which represent this Golden Age, including its side-effects: John Kenneth’s Galbraith’s The Affluent Society (1958) and Tibor Scitovsky’s The Joyless Economy (1976). Biographies of both economists are included. Galbraith criticises the inadequacy of neoclassical economics and laments the neglect of the public domain. Scitovsky, referring to insights of physiological psychology, argues that affluence may result in comfort at the detriment of joy in life. The Golden Age ended when stagflation, a combination of inflation and unemployment, couldn’t be tamed with Keynesian policies.
Chapter
Mary Ann Baily begins her paper by setting out, in general terms, the idea of a “decent minimum approach” to providing health care. She goes on to argue for defining the “decent minimum” as the level that should be (but not the level that is) chosen by the middle class, and to discuss reasons why it should and ways in which it could be made available to everyone.
ResearchGate has not been able to resolve any references for this publication.