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Capitalism, Socialism, and Democracy
Abstract
Capitalism, Socialism and Democracy remains one of the greatest works of social theory written in the twentieth Century. Schumpeter's contention that the seeds of capitalism's decline were internal, and his equal and opposite hostility to centralist socialism have perplexed, engaged and infuriated readers since the book's first publication in 1943. By refusing to become an advocate for either position, Schumpeter was able both to make his own great and original contribution and to clear the way for a more balanced consideration of the most important social movements of his and our time.
... Hermundsdottir and Aspelund (2021) define innovation as the ideas that change the organizations' products and services and improve the well-being of society. Based on the seminal work of Schumpeter (1976), under the theory of creative destruction, economic progress depends on the countries' ability to progressively create ways to develop new products and methods of production and remain competitive. The theory of creative destruction argues for more innovation to replace obsolete business models either through new sustainable products, technology or production methods to improve the living standards. ...
... In gaining recognition, Schumpeter (1976) argues that entrepreneurial innovation is the key to economic prosperity and growth as entrepreneurs innovate and take risks in improving firms' dynamics and competitiveness. This can be in the form of creating more innovative, efficient and eco-friendly products. ...
... From a theoretical perspective, this research supports both legitimacy theory and the theory of creative destruction. Legitimacy theory underscores the importance of sustainability in enhancing market acceptance and stakeholder trust, while the theory of creative destruction emphasizes the role of innovation in economic progress (Schumpeter, 1976). Firms that engage in sustainable innovations not only improve their competitive positions but also contribute positively to societal welfare. ...
Purpose
The purpose of this study is to investigate the effects of resource use and environmental innovation on firms’ financial costs.
Design/methodology/approach
The sample consists of 2,588 firm-year observations from 647 companies collected from Thomson Reuters over a five-year period (year 2014 to year 2018). The authors analyze the data using panel-corrected standard errors, which corrects heteroskedasticity issues and contemporaneous error in the data. Further, the authors adopt cluster analysis based on the year and industry. The authors also adopt the generalized method of moments and two-stage least squares regression to check for endogeneity issues and validate the findings.
Findings
The findings generally indicate that resource use is negatively associated with firms’ cost of capital. Firms’ engagement with operational activities improves savings in the usage of resources, but environmental innovation is found to be positively associated with the cost of capital. This may be attributable to higher capital investment, stringent risk assessment and third-party assurance associated with firms’ environmental innovation.
Research limitations/implications
The findings urge regulators, practitioners and stakeholders to engage in more dialogues to reduce the costs associated with environmental sustainability innovation. This may be in the form of new technologies, energy-saving products, waste recycling and green innovations. Government intervention via greater infrastructure, tax incentives and regulatory reform may support the growth of innovation in emerging market economies.
Practical implications
Efforts are needed to encourage a dynamic, innovative and entrepreneurial mindset among the people living in emerging countries. Also, government regulatory reform is imperative in encouraging innovations in the environmental, social and governance ecosystem.
Social implications
The effect on society would be in the form of a new product innovation that creates better living standards and environments for the communities.
Originality/value
To the best of the authors’ knowledge, this is one of the few studies that focuses on the impact of firms’ resource use and environmental innovativeness and its implications on business financial costs in both emerging and developed markets.
... The analytical approach entailed a critical examination of business innovation processes, highlighting the significance of fostering creativity inside organizations. This specifically examines the ramifications of Schumpeter's (1976) "creative destruction", emphasizing how innovation can precipitate profound transformations in established economic frameworks. ...
... From the fundamental contributions of Schumpeter (1976) and Drucker (1985), through the strategic insights of Kim and Mauborgne (2005), to the more recent explorations of the intersection between creativity, ethics, and technology, a very articulated picture emerges. Creativity is no longer seen as a mysterious talent possessed by few but as a capability that can be cultivated, measured, and managed strategically. ...
This contribution explores the evolution of creativity in the business context, integrating philosophical and psychological perspectives while considering business and managerial implications. Starting from classical conceptions of mimesis and poesies, the article traces a path through Kantian thought on genius and the Druckerian approach to innovation, up to contemporary theories on organizational creativity. It analyzes how creativity has evolved from being considered an innate gift to a manageable and measurable competence in companies. The contribution also examines the challenges of promoting creativity in organizations, including ethical aspects and measurement. The implications of artificial intelligence (AI) for business creativity and the possibility of teaching creative skills are discussed. The importance of creativity as a driver of economic and social value is emphasized, highlighting the need for companies to create ecosystems that promote ethical and sustainable innovation.
... First, according to Schumpeter's Entrepreneurship Theory, firms inevitably face various risks and uncertainties during the innovation process, such as slower-than-expected R&D progress internally and external market risks (Schumpeter, 2013). Compared to general innovation, however, green innovation activities are inherently more complex. ...
... From a research and development (R&D) perspective, GDO has further dismantled "information silos" and "information barriers," allowing diverse and rich open data to flow into firms as new production factors. This influx facilitates the recombination of internal production factors, breaking traditional knowledge innovation models and supplementing firms with highquality innovation resources, thereby enhancing their intrinsic R&D capabilities (Schumpeter, 2013;Yan et al., 2023). Furthermore, collecting and processing large volumes of public information-such as data on technological innovation, fiscal and financial affairs, and resource and energy sectors-can assist firms in obtaining price information and optimization strategies related to green innovation investments, thereby improving their ability to control green innovation costs. ...
Firms’ green R&D and innovation directly impact the national economy’s green and high-quality development. However, data resources play a significant role in altering traditional development models and promoting sustainable economic growth. Government data openness (GDO) offers a vital opportunity for the widespread transmission of data value. Existing literature has not yet examined whether GDO can intrinsically affect the green R&D and innovation of micro-level firms. In this study, we examine the impact of GDO on corporate green innovation using data from A-share industrial listed companies in China spanning 2007–2022 and employing the difference-in-differences (DID) method. The results indicate that GDO significantly promotes corporate green innovation. Mechanism tests reveal that GDO fosters corporate green innovation through channels such as enhancing corporate risk-taking, alleviating financing constraints, and optimizing the business environment. Further examination shows that improvements in the quality of GDO significantly enhance corporate green innovation. Moreover, the green effect of GDO is comprehensive and does not vary with the classification of green innovation types. According to the heterogeneity analysis, when management’s green cognition is higher, the firm is younger, environmental regulations are more stringent, and intellectual property is less protected, the green effect of GDO is more noticeable. This paper provides insights for promoting high-quality GDO, advancing green innovation and development in emerging market countries.
... Со временем интерес к различным проявлениям ортодоксии в методологии и теории экономической науки на различных этапах ее эволюции значительно возрастал. Критическая аргументация содержится в работах таких известных зарубежных экономистов, как Й. Шумпетер (Schumpeter, 1976), М. Блауг (Blaug, 1994), Д. Декеш (Dequech, 2007), Э. Гилберт (Gilbert, 1998), Г. Лайдалл (Lydall, 1998), П. Хайман (Hyman, 1994), Ю-Кван Нг (Yew-Kwang, 2003) и других. Обнародованные ими сочинения свидетельствуют о том, что именно ортодоксальные сентенции, которые были основаны на убеждениях прародителей и отцов экономической науки, являются причиной разногласий и даже взаимного неприятия между учеными-экономистами в прошлом и настоящем. ...
... Так, Й. Шумпетер известен как последовательный противник ортодоксии в экономической науке. В своей работе «Капитализм, социализм и демократия» (Schumpeter, 1976) он выдвинул три ключевых положения: 1) необходим новый взгляд на демократию, которая не является единственной правильной системой; 2) требуется критический анализ функционирования капиталистической экономики; 3) в будущем исчезновение капитализма неминуемо. Д. Декеш, проведя анализ концепций неоклассической, мейнстримной, ортодоксальной и неортодоксальной экономики, показал, что в их рамках сосуществуют различные подходы (Dequech, 2007). ...
... La démocratie dans sa complexité possède plusieurs dimensions et est interprétée de diverses manières par plusieurs auteurs selon le contexte. Dans un contexte où la démocratie était menacée, Schumpeter (1942) formulait une approche « réaliste » de la démocratie. Il définit le système démocratique comme étant une démarche institutionnelle pouvant permettre de prendre des décisions politiques, où des personnes acquièrent le droit de décider à la suite d'une compétition pour obtenir les voix des citoyens (Thiébault, 2008). ...
Cette étude identifie la relation entre les caractéristiques des systèmes démocratiques et les émissions de gaz à effet de serre (GES). En utilisant un ensemble de données de panel couvrant plus de 110 pays sur la période allant de 1961 à 2022 en présence d’un modèle de seuil, la présente étude examine la manière dont la démocratie influence la qualité de l’environnement. Les résultats issus de analyses révèlent que dans une démocratie prospère, la liberté d’expression est un moyen efficace pour améliorer la qualité de l’environnement par la réduction des émissions de gaz à effet de serre. En revanche, une concentration du pouvoir politique est une entrave à la réduction des émissions de gaz à effet de serre. Il est constaté que lorsque le pouvoir politique est centré dans les mains de l’exécutif en excluant les possibilités de contrôle de l’action gouvernementale, l’économie dévient de plus en plus émettrice, dégradant ainsi qualité de l’environnement. Il est remarqué aussi qu’à un niveau bas du produit intérieur brut par habitant, les émissions de gaz à effet de serre connaissent une augmentation mais quand produit intérieur brut par habitant évolue pour atteindre un certain seuil les émissions de gaz à effet de serre connaissent une baisse. Ceci démontre la validité de l’hypothèse de la courbe environnementale de Kuznets pour l’ensemble des pays de l’étude. Ces résultats soulignent la nécessité d'élaborer des politiques climatiques adéquates, tout en renforçant les mécanismes participatifs et institutionnels au sein des démocraties pour optimiser leur impact sur la durabilité environnementale.
... Then, the electoral system must be operated in a dialogue manner, with a pattern of interacting relations between the people and the government, to contribute to the development of democracy (Kurniawan, 2016). On the other hand, the electoral system is also not only interpreted as a simple democratic process, as stated by Schumpeter (1947) that the democratic method is the organization of institutions, in which individuals compete competitively for government, to achieve a position in political decision-making. ...
This research investigates the enhancement of Indonesia's Open Proportional Electoral System (OPES) through a SOAR (Strengths, Opportunities, Aspirations, Results) analysis to strategize its implementation for the 2024 elections. Utilizing a comprehensive literature review method, the study analyzed 984 articles from Google Scholar and 1000 from Crossref, narrowing down to eight pertinent studies published within the last three years. The SOAR analysis revealed key strengths of the OPES, including increased political plurality and direct voter engagement, while identifying opportunities for reform, such as reducing campaign financing and mitigating money politics. The aspirations highlighted a desire for greater accountability and integrity in electoral processes. Results indicated that implementing measures to limit campaign expenditures and enhance transparency could significantly reduce electoral misconduct. The study recommends establishing stricter regulations on campaign financing and fostering public awareness campaigns to educate voters on their rights and the electoral process. By addressing these challenges and leveraging existing strengths, Indonesia can strengthen its democratic practices and ensure a more equitable electoral landscape in the upcoming elections. This analysis provides a structured framework for policymakers to navigate the complexities of electoral reform effectively.
... E, de que maneira a segunda fase o Desenvolvimento dá forças à captura das ideias? A produção do conhecimento e de ideias foi deixada a cabo das Instituições de Ensino Superior, bem como dos Centros de Pesquisa e Desenvolvimento, pois a pesquisa deveria estar ligada ao tema desenvolvimento!) e dos laboratórios de grandes indústrias com poder político para acessarem verbas ou estruturas estatais para suas 6 A destruição criadora para Shcumpeter é um processo que faz parte do modo capitalista de produção, considerando que a inovação é necessária ao avanço das atividades do modo de produção capitalista, permitindo com que elementos econômicos e empresariais obsoletos, menos eficientes, sejam substituídos por novos elementos, que devem gerar ganhos de eficiência e progresso (Schumpeter, 1942 Outro aspecto que deve ser considerado do ponto de vista da inovação são os produtos que estão sendo criados. As indústrias de produtos de cuidados com o corpo, cosméticos, a indústria química, se estruturam como fornecedoras de produtos e serviços para mulheres, mas também como agentes de opressão aos corpos e existências das mulheres, gerando modelos impossíveis de alcançar, produtos para minimizar impactos da existência e do tempo, considerando metas impossíveis para este grupo já tão oprimido. ...
O presente artigo analisa como a ideologia do desenvolvimento, formulada como política de Estado nos Estados Unidos, estrutura-se de forma misógina. Para isso, utilizou-se um referencial teórico baseado em autores como Nancy Fraser, Henri Lefebvre e Perrot, entre outros, para compreender o desenvolvimento como força ideológica em dois períodos distintos: de 1850 a 1990, e da década de 1990 até os dias atuais. Metodologicamente, realizou-se uma análise histórica e crítica, considerando textos acadêmicos, relatórios e dados estatísticos que evidenciam a violência contra as mulheres como elemento intrínseco ao modelo capitalista de acumulação de riqueza. O estudo argumenta que o desprezo e a violência contra as mulheres não são subprodutos do desenvolvimento, mas bases essenciais à sua ideologia, intensificando-se com os avanços técnicos e tecnológicos. Assim, destaca-se a necessidade de problematizar as interseções entre desenvolvimento, opressão de gênero e exploração econômica, com o objetivo de promover maior equidade social. Palavras-chave: desenvolvimento, gênero, misoginia, trabalho contemporâneo.
... The specific actors in competition depend on the configuration of the ancien régime, and how the institutions of the soon-to-be-obsolete constitutional order shape the practice of competition. The level of democracy, in particular, should be a key explanatory variable, as the essence of contemporary democracy is political competition (Dahl 1971;Schmitter and Karl 1991;Schumpeter 1942). Interestingly, scholars tend to study the effects of public participation on the level of democracy (Eisenstadt, LeVan, and Maboudi 2015;Negretto and Wandan 2020;Saati 2015), not the other way around. ...
Since 1974, two out of every five constitutions (40.3%) were prepared via processes that included public consultation. The reasons for adopting these participatory mechanisms, however, are largely unexplored. I argue that public consultation is a tool for elite contestation of power. Introducing an original dataset of public consultations in constitution-making processes from 1974–2021 (n = 300), I find that in democracies, factional majorities and newcomer elites use public consultation to legitimate a break from the status quo. In autocracies, governing coalitions that depend on performance and enjoy greater party institutionalization push for public consultation to preserve favorable power-sharing arrangements.
... Technological progress is important for driving productivity growth, economic growth, and sustainability. The groundbreaking work by Schumpeter (13) was the first to talk about "creative destruction". During this time, industries are always changing as new technologies and ways of doing business come along and replace old ones. ...
Introduction: The study explored the impact of global competitiveness and technological progress on enhancing economic sustainability within the framework of globalization.Methods: A comprehensive survey was conducted, gathering data from 210 respondents. Logit regression analysis was used to assess the influence of technological innovation, global competitiveness, and technical progress on sustainability outcomes. Model accuracy was tested using the Receiver Operating Characteristic (ROC) curve.Results: The findings showed that technological innovation increased the likelihood of achieving economic sustainability with an odds ratio of 2.34 (p = 0.003). Global competitiveness also played a significant role, improving sustainability by 1.90 times (p = 0.008). Technical progress positively influenced sustainability, with an odds ratio of 1.62 (p = 0.025). The model's predictive accuracy was validated with an AUC value of 0.82.Conclusions: The study emphasized the importance of fostering technological innovation, strengthening global market participation, and advancing technological capabilities to drive economic sustainability. In line with the Sustainable Development Goals, policymakers and business leaders should prioritize innovation ecosystems and strategic investments in technology to ensure long-term growth and resilience in a globalized economy
Social mobility in the pre-industrial era has become a key topic in historiographical debate, with implications for the present. This volume examines the sources, methods, and dynamics of the phenomenon through both quantitative and qualitative approaches. The collection is structured into six areas: study methodologies, links with economic growth and inequality, geographical and demographic mobility, the impact of family structures and inheritance systems, dynamics of social decline, and the perception of mobility. The use of interdisciplinary tools provides new perspectives on understanding social trajectories in the past.
The article provides a comparative analysis of political bias in six television news services during the parliamentary election campaigns of 2023 in Poland and Slovakia. Additionally, it introduces a tool designed to measure the political bias of traditional media. Despite the majority of contemporary research focusing on political communication via the internet, particularly through social media, studies on traditional media are becoming increasingly scarce. Nonetheless, in many nations, including Poland and Slovakia, television, particularly news broadcasts, continues to serve as a significant source of political information. The study utilized manual content analysis, with the results used to compute indicators of visibility, exposure, and overtone for the major electoral committees featured in the broadcasts. Furthermore, a political bias index tool was applied, allowing for a comparison of the degree of bias across news services from different television stations in both countries under investigation.
In today’s world, democracy is recognized as both a theoretical idea and a form of
government that holds a unique position, largely unaffected by intense academic or
worldly controversies. Presently, no scholar can dismiss or oppose democracy and expect
to be taken seriously. However, in the Polis of Athens, the birthplace of democracy, the
prominent philosophers were critical and often disparaging of this system of governance.
This article seeks to demystify prevailing discourses surrounding Western democracy by
illustrating how they frequently depend on hierarchizing citizens, peoples, and countries,
as well as compartmentalizing human experiences. Moreover, it endeavors to demonstrate
that the discourses of democracy and liberalism have often been used by Western powers
to interfere in the global south and exploit its peoples. The article also offers a non-
evaluative approach to studying democracy, taking into consideration non-Western
experiences to preserve the concept’s utopian appeal.
There is no shame in acknowledging that profiteering through wealth generation is the most vicious motivator to satiate entrepreneurial aspirations. However, in this globalizing world where resource availability is faced with problem of resource exploitation, whilst economic development bears the cost of climate change, there is a need for a structural change in business behavior to encourage sustainability. The study examines how the state-of-the-art entrepreneurial ventures are insufficient to address the concerns of green economy; and how it can be transformed through simulation of eco-efficient innovation techniques by synergizing determinants of sustainability. The study is an exploration into spectrum of issues surrounding green entrepreneurship and how R&D and regulatory regimes in eco-innovation can contribute to a holistic solution. Using entrepreneurial Responsibility as a variable for sustainable entrepreneurship besides policy interventions- instilling entrepreneurial motivations for firms to go green, will surely stimulate a green economy driven by ethical ecopreneurs.
Democratic status is not forever. Many scholars have explained it based on a different approach and provided more and more evidence. They tend to assess the regime change between an authoritarian regime and a democratic regime. Some of them found that regime change moves to some degree even under the authoritarian regime or democratic regime towards strengthening or weakening the particular regime respectively.
This study investigates entrepreneurship's role as a catalyst for digital economic complexity, using Chinese data. Addressing a gap in digital economics literature, particularly in post-communist contexts, we introduce novel measures of digital economic complexity, moving beyond traditional economic indicators. Our findings reveal that entrepreneurship significantly and positively influences digital economic complexity. This impact, however, is indirect, mediated through the promotion of ICT talent aggregation and active technology transactions, suggesting a crucial pathway for entrepreneurship's influence. Furthermore, the effect exhibits heterogeneity. It is notably stronger within the Yangtze River Economic Belt and in provinces characterized by high levels of financial inclusion and industrial concentration, highlighting the importance of regional and structural factors. This research contributes a new framework for assessing digital economic complexity and provides empirical evidence resolving the debate on entrepreneurship's digital economic impact, demonstrating entrepreneurship's vital role in shaping it, specifically in a rapidly evolving, post-communist setting like China.
Using a large sample of approximately 2,500 listed firms in China over the past thirty years, I examine the relationship between innovation output and firm performance, as measured by return on assets (ROA). I document a significant increase in the number of patents granted to Chinese listed firms domestically. My findings indicate that patent intensity—measured as the number of patents scaled by total assets—is positively associated with future ROA, even after controlling for various patent-related covariates, as well as year and industry fixed effects. These results contribute to the existing literature on the positive impact of innovation on firm performance, which has been well-documented in Western economies such as the United States and European countries. Furthermore, I identify heterogeneities in this relationship across industries, patent types, and firm sizes. Specifically, the effect of patent intensity on subsequent ROA is more pronounced among firms in the manufacturing sector, those with a higher intensity of invention patents, and those with greater market equity. This study provides new evidence on the real effects of innovation output on firm performance in the context of China’s listed firms.
Bu araştırmanın temel amacı, Türkiye'deki bireylerin siyasal rıza algılarını demografik değişkenler (cinsiyet, yaş, eğitim düzeyi, çalışma durumu, gelir durumu) açısından incelemektir. Araştırma, genel tarama modeli kullanılarak yürütülmüş olup, Küçükçekmece ilçesinde yaşayan ve 18 yaşını doldurmuş 384 gönüllü katılımcı üzerinde gerçekleştirilmiştir. Katılımcılar, basit rastgele örnekleme yöntemiyle seçilmişlerdir. Veri toplama aracı olarak, demografik bilgileri içeren bir ön bölüm ve Siyasal Rıza Ölçeği'nden oluşan bir anket kullanılmıştır. Araştırmanın sonuçları, eğitim düzeyi ve gelir gibi demografik faktörlerin, katılımcıların siyasal rıza algıları üzerinde önemli bir etkiye sahip olduğunu ortaya koymuştur. Eğitim düzeyi yükseldikçe sorumluluk, doğruluk, yetkinlik ve özgür irade algılarının arttığı görülmüştür. Buna karşın, yaş ve çalışma durumu gibi diğer demografik değişkenlerin etkisi daha sınırlı kalmıştır. Araştırma, siyasal rıza algısının anlaşılmasında demografik değişkenlerin önemli rol oynadığını ve bu algının çok boyutlu bir yapıya sahip olduğunu göstermektedir..
In the past 200 years railway services have been offered by private firms maximizing profits as well as by public firms operating under a regime of regulated prices, where the fixed costs are paid for from tax revenues. Chap. 4 has analysed the first of these two alternatives; this chapter analyses the second. When and why does society choose either of these alternatives? The classical criteria for a public good (excludability and non-rivalry) turn out to be of limited use, as fixed costs are non-rival anyway. Private provision with oligopoly pricing above marginal cost creates deadweight loss and may lead to inefficient entry, either too little or too much. Public provision at marginal cost avoids the deadweight loss but requires taxation, with proportional taxes discouraging labour and lump-sum taxes (such as Thatcher’s poll tax) being regressive. We stress the role of two factors: the curvature of the demand curve (convex or concave) and the information on supply and demand.
Toplum çeşitli normlar belirler ve insanların bu normlara göre hareket etmesini bazen talep ederler bazen de şart koşar. Böylece, normlar, insanın üst kimliğini oluştururlar. Yani kendi içinde farklı davranmak istese de normlar insanın davranışlarını dışarıdan şekillendirir. Bu açıdan bakınca sosyal sermaye ve kimlik iç içe durumlardır. Kimlik olmadan sosyal sermaye ortaya çıkmaz ve normlar olmadan kimlik oluşmaz. Dolayısıyla kimlikler, sosyal sermayenin esasıdır diyebiliriz. Sonuç olarak kimlik iktisadından bahsedilecekse sosyal sermayeden de bahsetmek gerekir. Bu araştırmanın birincil amacı, bir toplumun kalkınması için gerekli olan ancak toplumun büyük bir kısmının yabancı olduğu sosyal sermaye kavramına vurgu yapmak ve iktisadi önemini ayrıntılı olarak tanıtmaktır. Çalışmanın ikincil amacı, sosyal sermayenin barındırdığı inovatif yapıyı tarif etmektir. Üçüncü ve son amaç ise kimlik iktisadı bünyesinde ortaya atılan “kimlik oluşturma” veya “içeridekiler-dışarıdakiler” olarak tabir edilen ve örgütsel inovasyon olarak nitelendirilebilecek bir sistemin, sosyal sermaye üzerinden temini hususunda varsayımsal bir çıkarsama yapmaktır. Bu çıkarsama yapılırken sosyal sermaye ile “içeridekiler-dışarıdakiler” sisteminin benzer ve farklı yönleri tarif edilmiş ve benzerlikler üzerinden nedensel bir ilişki kurulmuştur. Böylece baştan alınacak tedbirler doğrultusunda kimlik oluşturmanın nasıl kolaylaşacağı üzerine öngörüler oluşturulmuştur. Sonuç olarak, çalışmanın bütünü düşünüldüğünde, sermaye türleri arasında sosyal sermayenin önemini biraz daha ön plana çıkarmak ve böylece sosyal sermayenin toplumsal kalkınma için ehemmiyetini ortaya koymak ise çalışmanın genel amacını oluşturmaktadır.
In the context of low-carbon transformation, manufacturing enterprises are facing great pressures, and they need to improve their capability in order to successfully respond to these changes and achieve sustainable development. Based on the concept of organizational resilience, this paper proposed the concept of carbon resilience, representing the ability of an organization to keep stable, adapt, and evolve in the context of low-carbon transformation and tried to explore the role of carbon resilience in enterprises’ environment, social, and governance performance (ESG performance) and the conditional roles of coercive pressure, normative pressure, and the mimetic pressure between companies. Empirical research selected the data of Chinese A-share-listed manufacturing companies between 2012 and 2021 as research samples. Using the regression analysis method, the theoretical model was verified. The results show that carbon resilience can promote ESG performance. Moreover, coercive pressure and normative pressure promote the relationship between carbon resilience and ESG performance, whereas mimetic pressure inhibits the relationship. This study provides managerial implications for the government, society, and manufacturing enterprises, especially laying out a realistic approach to improving ESG performance from the perspective of carbon resilience.
Cities function as complex systems, and the superlinear scaling laws of patents and incomes are well documented. Technology transfer is a bridge between knowledge and economic progress. Despite its importance, the urban scaling laws of technology transfer remain poorly understood, with limited exploration of their historical network evolution. Here we construct 166-year technology transfer networks for US cities. We find that technology transfers exhibit superlinear scaling with the scaling exponents ranked as intracity transfer > intercity transfer-in > intercity transfer-out. The evolution of the technology transfer network includes a nationwide space-filling process, a hierarchical structure among cities and functional polycentricity within cities. These dynamics have evolved in tandem, each tightly linked to the growth of scaling exponents. Our findings complement insights into the relationship between scaling laws and network evolution, validate the mechanisms of local and nonlocal knowledge interactions and provide new support for the evolutionary theory of complex urban systems.
Background
Trade openness shows a positive impact on economic growth, supported by economic theory, and export diversification and economic complexity show a positive dynamic in trade openness in the world; however, a specificity is generated in South American countries. Therefore, the objective of the research is to analyse the macroeconomic determinants of trade openness in Latin American countries.
Methods
The research approach was quantitative and explanatory using panel data methodology from the databases of the World Bank, Harvard University and the Economic Commission for Latin America and the Caribbean for the period 2000-2020.
Results
The fixed effects panel data model showed that the variables that had a negative impact on trade openness were GDP, the economic complexity index and the logistic performance index, while the variables that had a positive impact were exports of high-tech products (a proxy for innovation), exports, imports, research and development expenditure and interregional trade in goods.
Conclusions
Therefore, during the analysis period of 2000-2020 in South America, based on the panel data analysis under fixed effects, a total of 8 countries had a negative impact on trade openness, and only the economies of Chile, French Guiana, and Brazil had a positive impact on trade openness; these economies are characterized by their better performance in the economic complexity index, their higher percentage of budget for research and development expenses, and their trade policies oriented towards the industrialization of their value-added products.
The Covid-19 pandemic brought unprecedented changes to business ownership in the UK which affects a generation of entrepreneurs and their employees. Nonetheless, the impact remains poorly understood. This is because research on capital accumulation has typically lacked high-quality, individualized, population-level data. We overcome these barriers to examine who benefits from economic crises through a computationally orientated lens of firm creation. Leveraging a comprehensive cache of administrative data on every UK firm and all nine million people running them, combined with probabilistic algorithms, we conduct individual-level analyzis to understand who became Covid entrepreneurs. Using these techniques, we explore characteristics of entrepreneurs—such as age, gender, region, business experience, and industry—which potentially predict Covid entrepreneurship. By employing an automated time series model selection procedure to generate counterfactuals, we show that Covid entrepreneurs were typically aged 35–49 (40.4%), men (73.1%), and had previously held roles in existing firms (59.4%). For most industries, growth was disproportionately concentrated around London. It was therefore existing corporate elites who were most able to capitalize on the Covid crisis and not, as some hypothesized, young entrepreneurs who were setting up their first businesses. In this respect, the pandemic will likely impact future wealth inequalities. Our work offers methodological guidance for future policymakers during economic crises and highlights the long-term consequences for capital and wealth inequality.
This chapter examines how robo-advisors are reshaping traditional financial advisory models considering the fundamental transformation that artificial intelligence and automation have created in the financial services industry. Robo-advisors enable financial markets to be more accessible to the masses and democratize investment processes by providing low-cost and accessible services. These systems, which offer personalized portfolios according to individual risk tolerance and investment goals, ensure individual investors to achieve their financial goals more effectively. This chapter emphasizes that robo-advisors create a new paradigm shift in the financial sector within the framework of Schumpeter's concept of creative destruction, while discussing the challenges these technologies face in terms of cybersecurity and transparency. Moreover, in the future, robo-advisors are predicted to have significant potential in areas such as more personalization, more integrated services, and advanced data security.
Science, technology, and humanism are interconnected forces shaping our world. This chapter reflects on their historical and contemporary dialogue, emphasizing the enduring relevance of scientific inquiry, critical thinking, and ethical considerations. Through the lens of Galileo’s defiance and Brecht’s dramatization, it explores the tension between knowledge and authority. The chapter argues for a balanced approach to technological advancements, integrating humanistic values to navigate the complexities of the digital age. Highlighting the role of education, interdisciplinary collaboration, and responsible governance, it advocates for a future where innovation and humanism coexist to address global challenges and enhance societal welfare.
Sustainable entrepreneurship (SE) has proven to be the key to achieving the 17 Sustainable Development Goals (SDGs), because of its ability to identify opportunities and foster innovations. The vision of SE is global, inclusive and supportive addressing environmental challenges, social inequalities and economic insecurity. Therefore, researchers and scholars have conducted previous studies on the SE in the SDGs, but there are still gaps in the research, such as a study that presents a detailed and updated picture of their relationship in specific contexts. This study therefore takes an innovative approach and explores the relationship between SE and SDGs. Through a bibliometric analysis of academic publications registered in Scopus, thematic trends, author collaborations and leading research countries were analyzed, in addition to conducting a comprehensive systematic literature review answering research question How can contribute to the 5 SDGs axes? The study identified the “give-receive-return” relationship, which we call the SE value cycle, a conceptual tool that helps to understand the interaction between innovation with the market, operation and the 5 axes of the 2030 Agenda. This finding opens up significant new opportunities for future research, with important implications for policymakers, business, academia and society, who seek to promote a more just, prosperous and sustainable world for those of us here, as well as for future generations.
Who holds power in Japanese local politics? This chapter investigates the complexities of local governance in Japan, focusing on the interaction between political heads and local assemblies, with particular attention to the long-term dominant Liberal Democratic Party (LDP). It examines how electoral campaigns, political strategies, and the legislative framework, as influenced by the political system, result in a practice where the LDP’s dominance in councils markedly affects the political heads. Although Japan’s local government is often equated with a presidential system with a strong political head, this chapter reveals dynamics more akin to a parliamentary system with an influential local council. In this context, the analysis explores the rise of the Osaka Restoration Association (ORA) and the LDP’s fragmentation in gubernatorial elections to identify the causes of these remarkable development.
Schumpeter's "creative destructio11" theory has revealed that innovations i11 capitalism create a systemic internal renewal process and that the resulting innovatio11s may have social and political consequences. For this reason, Schumpeter's theory of creative destruction provides an excellent framework for understanding the traf!Sformationprocess towards artificial intelligence technologies that are being experienced today. This study examines the economic, political, and social consequences of artificial intelligence technologies based on Schumpeter's theory of creative destruction. As a result, artificial i11telligence is a milestone in terms of the technological changes that humanity has faced. Innovations that replaced human labour in the Industrial Revolution have gained the ability to replace humans with artificial intelligence. For this reason, Schumpeter's theory of creative destruction is vital in understanding the consequences that artificial intelligence technologies will bring.
Studying how we explore the world in search of novelties is key to understand the mechanisms that can lead to new discoveries. Previous studies analyzed novelties in various exploration processes, defining them as the first appearance of an element. However, novelties can also be generated by combining what is already known. We hence define higher-order novelties as the first time two or more elements appear together, and we introduce higher-order Heaps’ exponents as a way to characterize their pace of discovery. Through extensive analysis of real-world data, we find that processes with the same pace of discovery, as measured by the standard Heaps’ exponent, can instead differ at higher orders. We then propose to model an exploration process as a random walk on a network in which the possible connections between elements evolve in time. The model reproduces the empirical properties of higher-order novelties, revealing how the network we explore changes over time along with the exploration process.
Convertible debt has been one of the most important financial strategies for companies. However, how convertible debt affects marketing decision-making remains unknown. Our study tends to answer two research questions: (1) How does convertible debt impact firm performance through a marketing mechanism? (2) How does the impact of convertible debt on firm performance vary under market turbulence? Drawing on the agency theory, we found that convertible debt results in strategic emphasis shifting into exploitation activities, which ultimately has a negative influence on company performance. In addition, we also found that in a turbulent market, companies that issue convertible debt would invest more in exploitative activities than in a non-turbulent market, which will result in a more negative influence on firm performance. Our research contributes to convertible debt and strategic emphasis literature. For management teams, our research provides evidence that the marketing consequences of convertible debt need to be carefully considered in strategic decision-making.
Strong kinship structures correspond to important informal institutions that provide some social insurance to businesses in developing economies. More specifically, we posit that, during an economic crisis, businesses located in areas characterised by an in-group supporting marriage tradition (cousin marriage) will experience weaker negative effects on their profitability. We speculate that the cousin marriage tradition is associated with dense structures of kinship-based contacts between individuals, which creates the basis for effective social sanctions that support the cooperation needed during crises. Such structures may enhance the resilience of the local social systems; and local businesses may draw on local, socially available resources, which will attenuate the impact of crises on their financial performance. We utilise the data from the 2018–2019 Nigeria Living Standard Survey and find support for our hypotheses.
Penelitian ini mengkaji tentang hak politik masyarakat adat dalam pemilu di Indonesia. Metode penelitian yang digunakan adalah kualitatif, dengan bentuk penelitian yuridis normatif dan perbandingan hukum. Permasalahan hak politik masyarakat adat di Indonesia masih menjadi diskursus yang belum terselesaikan. Sekitar 18 sampai 20 juta masyarakat adat yang menjadi bagian dari komunitas Aliansi Masyarakat Adat Nusantara, hanya kurang dari 30% yang dapat menggunakan hak pilih dalam pemilu 2019 dan pilkada 2018. Bahkan pada Pemilu 2019 sekitar 3 juta masyarakat adat tidak terdaftar sebagai pemilih. Ada dua indikator yang menjadi penyebab hal tersebut: pertama dari faktor regulasi, dan kedua dari faktor pelaksanaan pemilu umum. Regulasi di Indonesia tidak mengatur secara spesifik terkait hak politik masyarakat adat. Indonesia jauh tertinggal dari negara Bolivia, Paraguay, Australia, Kanada, Finlandia, Selandia Baru, Venezuela, dan Kolombia dalam hal pengaturan hak politik masyarakat adat. Di negara-negara tersebut telah mengatur secara jelas terkait hak politik masyarakat adat, bahkan juga mengatur berapa kuota masyarakat adat di parlemennya. Permasalahan dari segi pelaksanaan pemilu terlihat dari banyaknya masyarakat adat yang tidak memiliki kartu tanda penduduk sehingga tidak terdaftar sebagai pemilih pada pemilu. Kendala yang lain adalah tempat pemungutan suara banyak yang belum menjangkau wilayah masyarakat adat. Perlakuan terhadap masyarakat adat tersebut merupakan pelanggaran terhadap hak asasi manusia dan tidak sesuai dengan prinsip pemilihan umum yang demokratis. Ke depan perlu adanya regulasi yang memberikan jaminan hak politik masyarakat adat di Indonesia, di samping upaya yang lebih afirmatif dari pemerintah khususnya KPU agar masyarakat adat bisa memilih, sebagai upaya perlindungan hak asasi manusia dan pemenuhan prinsip pemilu demokratis.
Bài báo tìm hiểu mối quan hệ giữa đổi mới sáng tạo và năng lực cạnh tranh công nghiệp của các quốc gia. Sử dụng mô hình hồi quy dữ liệu bảng với hiệu ứng cố định cho dữ liệu từ 217 quốc gia trong giai đoạn 2013-2021, kết quả phân tích cho thấy đổi mới sáng tạo có tác động tích cực đến năng lực cạnh tranh công nghiệp. Tuy nhiên, tác động này bị điều chỉnh bởi mức độ phát triển kinh tế. Cụ thể, ở các quốc gia có GDP cao, tác động của đổi mới sáng tạo lên năng lực cạnh tranh công nghiệp có xu hướng giảm, phản ánh hiệu ứng bão hòa trong các nền kinh tế phát triển. Bên cạnh đó, tác giả cũng chỉ ra rằng mối quan hệ giữa đổi mới sáng tạo và năng lực cạnh tranh công nghiệp là phi tuyến tính. Kết quả nghiên cứu cung cấp những hàm ý chính sách quan trọng để thúc đẩy đổi mới sáng tạo và nâng cao năng lực cạnh tranh công nghiệp trong các bối cảnh kinh tế khác nhau.
Plain English Summary
Culturally diverse business teams of small and medium-sized enterprises (SMEs) boost employment growth through a richer internal pool of knowledge, amplifying this effect via strategic choices. Exploring the impact of ethnic diversity within business teams on the employment growth of SMEs, we find that ethnically diverse teams tend to outperform more homogenous ones in terms of employment growth. We posit that this advantage arises from a richer pool of knowledge shared within diverse teams, which is facilitated by close cooperation within SME teams that builds internal social capital. Furthermore, diversity within business teams enhances attitudes of openness and tolerance that in turn may facilitate motivation and ability of team members to access knowledge outside the firm. This drives employment growth and also amplifies the effects of digitalisation, exporting, and innovation strategies. Our study suggests that fostering ethnic diversity within SME business teams can enhance both knowledge resources and social capital, affecting business growth. Entrepreneurs should consider embracing cultural diversity within their SME business teams as beneficial, while policymakers may appreciate that within-firms micro-effects of diversity may accumulate to help local community-building and economic development.
The government-driven Leisure Agriculture and Rural Tourism Demonstration County (LARTDC) policy provides a good quasi-natural experiment to determine the causal effect between rural tourism development and household income in China. Using the staggered difference-in-differences (SDID) method, we find that LARTDC policy implementation leads to a 10.82% increase in rural household income in China. To ensure the robustness of the SDID results, we conduct additional tests, such as the parallel trend assumption, Bacon decomposition, and placebo tests. Mechanism tests indicate that this income effect can be partially attributed to entrepreneurial behaviours, social networks, and infrastructure advancements. Moreover, we discover the inclusive nature of rural tourism development through heterogeneity analysis. Results show that rural tourism development benefits some disadvantaged groups, including households in less-developed regions and those with lower educational attainment, poorer health, higher dependency ratios, and limited assets.
Although it has been said for some decades that printed newspapers are dying, they are still in existence; however, Swedish newspapers have entered a new era. Throughout the country, the distribution of printed newspapers is slowly ceasing. In this article, we trace the process of the disappearance of printed news through ethnographic field work engaging with the perspectives of the newspaper industry, readers, and civil society. Conceptualizing the disappearance of printed news as an assemblage of imaginaries, materialities, and practices, we are interested in how this disappearance is accomplished, motivated, interpreted, and experienced. The article makes an argument for exploring disappearance in tandem with emergence to develop a deeper understanding of contemporary media culture and society.
Objetivo: propor um framework para o desenvolvimento de Universidades Empreendedoras (UEs). Estado da arte: um dos principais conceitos associados à UE é a integração do modelo de stakeholders da Quádrupla Hélice, que enfatiza a colaboração entre empresas, academia, comunidade e governo nos processos de inovação. Embora haja vastas pesquisas sobre empreendedorismo, a literatura não possui um modelo prático e integrado para o desenvolvimento de UEs. Escopo: foi realizada revisão sistemática de literatura de 83 artigos científicos, a partir das bases de dados Web of Science e EBSCO de modo a construir um framework para o desenvolvimento da UE. Originalidade: o framework desenvolvido conecta diversos aspectos internos e externos da UE de modo a ampliar o papel das universidades no processo empreendedor. Impacto: o framework traz um mapa prático aos gestores de universidades, líderes empresariais e líderes de governo e de outras organizações.
This chapter reviews the three major theoretical positions that underlie the sociology of intellectuals. It then links these theoretical positions to the type of concrete social intervention that is implied by the theory. Thus, the chapter provides an overview of this edited volume in terms of theories of intellectuals and their practical interventions in the real world. The first position conceptualises intellectuals as a stratum shaped by the particular social and economic settings surrounding them. As a stratum, intellectuals shape the world through public sociology, through which sociologists act on the world in accordance with their political positions. The second position conceptualises intellectuals as a class shaped primarily by economic and technocratic forces. As a class, intellectuals shape the world through sociological interventions, in which sociologists train social actors to create social change. The third position conceptualises intellectuals as a universal group shaped mostly by the internal features of academic life. As a universal group, intellectuals attempt to use their knowledge to solve social problems in a neutral way.
This paper considers the role that innovation plays in EU merger control analysis, and seeks to integrate perspectives highlighted by the philosophical literature on the so-called ‘direction of innovation’ in order to critically assess the impact of market concentration on the diversity of innovation and its ability to address larger normative questions and challenges, such as the transition to more sustainable economies. While normative goals other than competition are not an inherent part of merger control, this paper argues that in concentrated markets, ignoring such questions can play into the hands of the powerful merging entities, allowing them to further determine the direction of innovation to best serve their interests and business models rather than public interests. This is illustrated by critically discussing the merger between Bayer and Monsanto as an example.