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Public organizations involved in planning and implementation of developmental activity, education, research and development, as well as private firms delivering professional services and operating in a rapidly changing socio-econo...
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Public organizations involved in planning and implementation of developmental activity, education, research and development, as well as private firms delivering professional services and operating in a rapidly changing socio-economic environment are often concerned mainly with innovation, problem-solving and learning rather than with the production of any tangible outputs. The income streams of such organizations also often stem from environmental support rather than from a sale of widgets. Sustaining developmental activity in part requires maintaining such organizations at a high level of productivity, which calls for special design considerations that this paper attempts to delineate. A formal model of the production, knowledge acquisition and governance functions of an innovation organization is developed and experimented with through computer simulation using the heuristical approach of system dynamics. The analysis suggests that professional competence in organizations may atrophy, eventually leading to their demise, due to the development of a governance system that is largely driven by manifest authority, unless a concerted effort is made to preserve collegial decision roles. In terms of organizational design, this translates into considering constituents other than those used normally for creating mechanistic and organic components of organizational structure. Since professional competence often emanates from collegial rather than manifest processes, an important aspect of the design is to sustain collegial roles. Since collegial roles are undefined, their maintenance calls for placing constraints on manifest roles with prolific expansion potential. A promising design constituent for sustaining an appropriate governance system for an innovation organization appears to be a chartering process that should create an organizational magna carta clearly stating the limitations of the manifest roles. Other possible entry points into the system, albeit external, include bringing in leadership perspectives and linking with market forces that should allow the curtailment of prolific expansion of manifest roles.
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Purpose - The purpose of this paper is to introduce the "Radical economics" issue in International Journal of Social Economics.
Design/methodology/approach - "Radical economics" has two basic meanings. One employs the basic sense...
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Purpose - The purpose of this paper is to introduce the "Radical economics" issue in International Journal of Social Economics.
Design/methodology/approach - "Radical economics" has two basic meanings. One employs the basic sense of "radical", whatever goes to the roots of the matter. The other common meaning of radical has to do with whatever diverges from the orthodoxy of the time. This issue examines radical economics in both senses.
Findings - The recent world economic crisis raises basic questions about economic thought. Complex mathematical formulae led banks to take what proved to be unwarranted risks. Behind them is a tendency to regard economics as a self-contained discipline. Complexities which sociologists, social psychologists, anthropologists and historians have done something to unravel are sometimes simply ignored. The philosophical bases of the economic theories in circulation are often more than two centuries old. But some important ideas from the past have been forgotten, the distinction between wealth and riches is one. Social change also plays a part in the problems. Community friendly capitalism, ridiculed and attacked by some economists, has faded. At a deeper level the tendency for the rich to get much richer while the poorest people in the world are only slightly better off has produced more instability and uncertainty, which economists have not successfully addressed. Practical implications - It is hoped readers will join in these ongoing explorations. Social implications - The recent economic crisis has been importantly a crisis of confidence. Economic studies, which offer hope for change, can be an element in increasing confidence. Originality/value - The problem posed by the constant expansion necessitated in the ordinary way the need to invest profits may threaten the sustainability of life on our planet and no immediately available economic theory seems to address this. This issue begins to raise the essential questions, with hopes of continuing the discussion.
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This article on regional economic diversity addresses several issues: (1) theoretical foundations for arguments forwarding increased economic diversity as a development goal, (2) common empirical measures of economic diversity, an...
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This article on regional economic diversity addresses several issues: (1) theoretical foundations for arguments forwarding increased economic diversity as a development goal, (2) common empirical measures of economic diversity, and (3) empirical literature on economic diversity and its effect on regional economic stability. This examination of the literature suggests four main directions in which future research on regional economic diversity could go. First, it is shown that research on the relationship between economic diversity and regional income distribution is scarce yet critical. Second, recent research suggests that applications of input-output analysis hold the potential for integrative research on issues related to economic diversity. Third, an examination of the local economic development literature indicates that regional scientists could use the concept of "diversified specializations" to classify economic regions and evaluate clusters. Fourth, the literature on ecological diversity suggests additional ways to look at the issue of economic diversity-stability.
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The Journal of Economic Literature codes classification system (JEL) published by the American Economic Association (AEA) is the de facto standard classification system for research literature in economics. The JEL classification ...
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The Journal of Economic Literature codes classification system (JEL) published by the American Economic Association (AEA) is the de facto standard classification system for research literature in economics. The JEL classification system is used to classify articles, dissertations, books, book reviews, and working papers in EconLit, a database maintained by the AEA. Over time, it has evolved and extended to a system with over 850 subclasses. This paper reviews the history and development of the JEL classification system, describes the current version, and provides a selective overview of its uses and applications in research. The JEL codes classification system has been adopted by several publishers, and their instructions are reviewed. There are interesting avenues for future research as the JEL classification system has been surprisingly little used in existing biblio-metric and scientometric research as well as in library classification systems.
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This viewpoint argues that the financial crisis has also highlighted the failings of mainstream economic thinking, at both micro and macro-economic levels, in providing adequate and appropriate understanding of how economies work....
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This viewpoint argues that the financial crisis has also highlighted the failings of mainstream economic thinking, at both micro and macro-economic levels, in providing adequate and appropriate understanding of how economies work. As a result, it cannot inform well decisions by policy-makers. In particular, mainstream economics has neglected the complexity of systemic interactions and behavioural factors underlying modern economies, as well as the systemic dependence of economies on natural resources and ecosystem services. This piece discusses four heterodox economic approaches that could contribute to the development of a new economics. By focussing on what these approaches tell us about particular problems, a more realistic and useful economics can be developed, which can address the current economic challenges in ways consistent with realising a transition to a sustainable future.
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A rapidly growing literature uses quantitative general equilibrium models of economic geography to study the economic impact of historical events such as the railroad revolution, industrial take-off, structural transformation and ...
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A rapidly growing literature uses quantitative general equilibrium models of economic geography to study the economic impact of historical events such as the railroad revolution, industrial take-off, structural transformation and wars. I identify three key challenges facing this literature: the tractability of model structure, the availability of historical data, and issues related to identification. I review the literature by discussing how it has been addressing each of these challenges. While doing so, I point out the rich set of questions that this literature can address, as well as the methodological innovations it has conducted to answer these questions.
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This article traces the history of Business Economics, focusing first on its institutional history-its beginnings, key contributors, debates on its content, and shifts in editorial policy. It then turns to discussion of particular...
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This article traces the history of Business Economics, focusing first on its institutional history-its beginnings, key contributors, debates on its content, and shifts in editorial policy. It then turns to discussion of particular articles that are distinguished either by the judgment of Business Economics' Editorial Board or whose authors have been honored by the National Association for Business Economics for their outstanding service. The article also presents trends in the sources and content of Business Economics over its 50-year history.
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Purpose - This paper aims to counter the view that Marshall was an opponent of the historical school. This false account has survived and prospered because it has fitted into more general conceptions of intellectual history, held ...
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Purpose - This paper aims to counter the view that Marshall was an opponent of the historical school. This false account has survived and prospered because it has fitted into more general conceptions of intellectual history, held by both orthodox and heterodox economists. Design/methodology/approach - Marshall's affinity with the historical school is established by examining his writings and his relationship with historical school sympathisers in the UK. Findings - It is established that Marshall regarded his work as building on historical school insights, and he repeatedly referred positively to the ideas of the German historical school. It is argued in this paper that Marshall's opposition to the historical school was confined to its anti-theoretical wing, principally Cunningham. In other important respects Marshall's position was compatible with German and British historicism. Originality/value - In preceding literature, Marshall's affinities with the historical school have been denied, unacknowledged, or unexplored.
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With the help of planes and solids, this paper presents an enlargement of the field of observation of economic theory. Through this transformation, the distribution of ownership rights to money and wealth assumes a central positio...
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With the help of planes and solids, this paper presents an enlargement of the field of observation of economic theory. Through this transformation, the distribution of ownership rights to money and wealth assumes a central position in economic analysis. Thus social relevance is returned to economics. The validity of this operation is confirmed by the return of the millenarian field of economic justice to its traditional function as guidance to economic policy. The paper then presents four sets of economic rights and responsibilities that offer the potential of translating principles of economic justice into the complexities of the modern world.
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Purpose - The purpose of this paper is to present a survey by GLOBESCAN for Ethical Markets Media, LLC which was released at the "Beyond GDP" Conference in the European Parliament, 19-20 November. Design/methodology/approach - T...
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Purpose - The purpose of this paper is to present a survey by GLOBESCAN for Ethical Markets Media, LLC which was released at the "Beyond GDP" Conference in the European Parliament, 19-20 November. Design/methodology/approach - The methodology is surv
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