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Schumpeter's Theory of Economic Development
Journal of Insurance and Financial Management, Vol. 4, Issue 3 (2021) 65-81 Schumpeter’s Theory of Economic Development: A Study of the Creative Destruction and Entrepreneurship Effects on the Economic Growth Farrokh Emami Langroodi a,* a Goethe University Frankfurt, Graduate School of Economics, Finance, & Management (GSEFM), Department of Finance, Germany ARTICLE INFO ABSTRACT Article History This paper provides a multifaceted review and Submitted 11 Aug 2021 analysis of Schumpeter’s Theory of Economic Accepted 12 Aug 2021 Development and specifically the creative Available online 13 Aug 2021 destruction effect intertwined with the business JEL Classification cycles, and their effectiveness in explaining the A12 long-run economic growth by first, looking into the B13 main features of this theory; second, comparing the B31 fundamental similarities and differences of B52 Schumpeter theory with respect to Marxism and Keynesianism, third; a comparison of “Schumpeter” Keywords effect vs. the “refugee” effect in recently published Schumpeter Creative Destruction researches, and finally, the relationship of Capitalism Schumpeterian and Kirznerian opportunities in Kirznerian modern entrepreneurship. Marxism Keynesianism Journal of Insurance and Financial Management Economic Growth Business Cycle Entrepreneurship *Corresponding Author: [email protected] Author(s) retain copyright of the submitted paper (Please view the Copyright Notice of JIFM). This work is licensed under a Creative Commons Attribution 4.0 International License. Journal of Insurance and Financial Management (ISSN-Canada: 2371-2112) Emami Langroodi F. / Journal of Insurance and Financial Management, Vol. 4, Issue 3 (2021) 65-81 66 1. INTRODUCTION It is well known that Joseph Alois Schumpeter always explained that “analyzing business cycles means neither more nor less than analyzing the economic process of the capitalist era” (Schumpeter, 1939). -
Case Study – South Africa Political Economy Analysis
Political Economy Analyses of Countries in Eastern and Southern Africa Case Study – South Africa Political Economy Analysis June 2017 Table of contents List of abbreviations 5 Executive Summary 9 1 Political Landscape 11 1.1 Introduction 11 1.2 Historical context 11 1.3 Current Political Trends and Contestations 13 1.3.1 Leadership crisis and political infighting within the ANC 13 1.3.2 Economic mismanagement and fears of credit rating downgrades 13 1.3.3 The rise of opposition parties: Democratic Alliance and the Economic Freedom Fighters 14 1.3.4 Poverty, unemployment and inequality 15 1.3.5 Corruption 15 1.3.6 Social uprising/protests (Service delivery; Fees must fall; Zuma must fall) 16 1.3.7 The role of the courts, Public Protector and public litigation 16 1.4 Concluding remarks 16 2 Structure and dynamics of the budget process 17 2.1 The budgeting process 17 2.2 Decentralisation, Provincial and Local Government 20 2.3 The budget cycle 21 2.3.1 Phase 1: Planning (drafting) 22 2.3.2 Phase 2: Legislative (Authorisation) 25 2.3.3 Phase 3: Implementation 25 2.3.4 Phase 4: Evaluation (Auditing) 25 2.4 Key role-players in the budgeting process 25 2.5 The role of Parliament in the budget process 27 2.6 The Role of Line Ministries in the budget process 28 3 Key stakeholders related to children 31 3.1 Parliament and the role of Civil Society 31 3.1.1 Parliamentary Committees, priorities and power struggles 31 3.1.2 Civil Society in Parliament 33 3.1.3 Public Interest Litigation 33 3.2 Inside National Government 34 3.2.1 Perspectives of the -
Social Alternatives
EDITORIAL COLLECTIVE Social Alternatives Bronwyn Stevens University of the Sunshine Coast Social Alternatives is an independent, quarterly refereed Clare Archer-Lean University of the Sunshine Coast journal which aims to promote public debate, commentary and Ella Jeffrey Queensland University of Technology dialogue about contemporary social, political, economic and Jennifer Mays Queensland University of Technology environmental issues. Julie Matthews University of Adelaide Ginna Brock University of the Sunshine Coast Social Alternatives analyses, critiques and reviews contemporary social issues and problems. The journal seeks Debra Livingston University of the Sunshine Coast to generate insight, knowledge and understanding of our Graham Maddox University of New England contemporary circumstances in order to determine local, Cassandra Star Flinders University national and global implications. We are committed to the George Morgan University of Western Sydney principles of social justice and to creating spaces of dialogue Hayley Baxter University of Queensland intended to stimulate social alternatives to current conditions. Helen McLaren Flinders University Social Alternatives values the capacity of intellectual and artistic endeavour to prompt imaginative solutions and Lee-Anne Bye University of the Sunshine Coast alternatives and publishes refereed articles, review essays, Christine Morley Queensland University of Technology commentaries and book reviews as well as short stories, Elizabeth Eddy poems, images and cartoons. ADVISORY BOARD The journal has grappled with matters of contemporary concern for four decades, publishing articles and themed Roland Bleiker University of Queensland issues on topics such as peace and conflict, racism, Verity Burgmann Monash University Indigenous rights, social justice, human rights, inequality and Parlo Singh Griffith University the environment. Please show your support by subscribing to Don Alexander University of Queensland the journal. -
BUSINESS TRANSFORMATION in DURBAN: PERCEPTIONS of BLACK ENTREPRENEURS in the CONTEXT of BLACK ECONOMIC EMPOWERMENT by Peter Muli
BUSINESS TRANSFORMATION IN DURBAN: PERCEPTIONS OF BLACK ENTREPRENEURS IN THE CONTEXT OF BLACK ECONOMIC EMPOWERMENT By Peter Mulinda Mudenda 208511198 Submitted in partial fulfillment of the requirements for the degree of Masters in Development Studies in the Graduate Programme of the School of Built Environment and Development Studies, University of KwaZulu-Natal, Durban, South Africa. Supervisor: Prof. Richard Ballard January, 2013 Durban DECLERATION I declare that this dissertation is my own unaided work. All citations, references and borrowed ideas have been duly acknowledged. It is being submitted for the degree of Masters in Development Studies in the Graduate Programme of the School of Built Environment and Development Studies in the Faculty of Humanities, Development and Social Science, University of KwaZulu-Natal, Durban, South Africa. None of the present work has been submitted previously for any degree or examination in any other University. _____________________________ Student signature ______________________________________ Date i ACKNOWLEDGEMENTS “The Arc of the Moral Universe Is Long, but It Bends Toward Justice” (Martin Luther King, Jr.). It bends because men and women, some obscure in their labour, put their arms on it and bend it towards a better day for us. My achievement, and indeed no man’s achievement, is ever a solitary effort but one borne of a collective effort made by many. I am all too aware of the sacrifices of those whose love and support humbles me to my core. I remember with humble gratitude my beloved aunty, Mutinta Laura Mpamba, whose abiding faith and love in the face of pain and suffering always fills my eyes with tears; my late cousin Mrs. -
Social, Political and Cultural Challenges of the Brics Social, Political and Cultural Challenges of the Brics
SOCIAL, POLITICAL AND CULTURAL CHALLENGES OF THE BRICS SOCIAL, POLITICAL AND CULTURAL CHALLENGES OF THE BRICS Gustavo Lins Ribeiro Tom Dwyer Antonádia Borges Eduardo Viola (organizadores) SOCIAL, POLITICAL AND CULTURAL CHALLENGES OF THE BRICS Gustavo Lins Ribeiro Tom Dwyer Antonádia Borges Eduardo Viola (organizadores) Summary PRESENTATION Social, political and cultural challenges of the BRICS: a symposium, a debate, a book 9 Gustavo Lins Ribeiro PART ONE DEVELOPMENT AND PUBLIC POLICIES IN THE BRICSS Social sciences and the BRICS 19 Tom Dwyer Development, social justice and empowerment in contemporary India: a sociological perspective 33 K. L. Sharma India’s public policy: issues and challenges & BRICS 45 P. S. Vivek From the minority points of view: a dimension for China’s national strategy 109 Naran Bilik Liquid modernity, development trilemma and ignoledge governance: a case study of ecological crisis in SW China 121 Zhou Lei 6 • Social, political and cultural challenges of the BRICS The global position of South Africa as BRICS country 167 Freek Cronjé Development public policies, emerging contradictions and prospects in the post-apartheid South Africa 181 Sultan Khan PART TWO ContemporarY Transformations AND RE-ASSIGNMENT OF political AND cultural MEANING IN THE BRICS Political-economic changes and the production of new categories of understanding in the BRICS 207 Antonádia Borges South Africa: hopeful and fearful 217 Francis Nyamnjoh The modern politics of recognition in BRICS’ cultures and societies: a chinese case of superstition -
Capitalism Versus Democracy? Also by Boris Frankel
CAPITALISM VERSUS DEMOCRACY? ALSO BY BORIS FRANKEL Democracy Versus Sustainability Fictions of Sustainability: The Politics of Growth and Post-Capitalist Futures Zombies, Li"iputians and Sadists: The Power of the Living Dead and the Future of Australia When the Boat Comes In: Transforming Australia in the Age of Globalisation From the Prophets Deserts Come: The Stru#le to Reshape Australian Political Culture The Post Industrial Utopians Beyond the State? Dominant Theories and Socialist Strategies Marxian Theories of The State: A Critique of Orthodoxy CAPITALISM VERSUS DEMOCRACY? RETHINKING POLITICS IN THE AGE OF ENVIRONMENTAL CRISIS BORIS FRANKEL GREENMEADOWS Copyright © Boris Frankel 2020 First published in 2020 by Greenmeadows P.O. Box 128 Elsternwick, Melbourne 3185 This book is copyright. Apart from any fair dealing for the purpose of private study, research, criticism or review, as permitted under the Copyright Act, no part may be reproduced by any process without written permission. Enquiries should be made to the publisher. A catalogue record for this book is available from the National Library of Australia. Name: Frankel, Boris, author. Title: Capitalism Versus Democracy? Rethinking Politics in the Age of Environmental Crises/ Boris Frankel. Includes Notes and References and Index. Subjects: 1. Politics of environmental sustainability. 2. Fascism, socialism and democracy. 3. Post-capitalism – post-growth societies. 4. Social reform – alternative policies ISBN: (pbk) 978-0-6483633-4-7 ISBN: (epub) 978-0-6483633-5-4 Typeset in Hoefler Text. Cover Design by Emile Frankel. The publisher has endeavoured to ensure that the URLs for external websites referred to in this book were accurate and active at the time of going to press. -
Racialism and Social Cohesion: Is ANC Failing in Its Vision of A
Non-Racialism and Social Cohesion: Is ANC Failing in its Vision of a National Democratic Society? Speech by Y Abba Omar at the Inaugural Annual Lecture of the ANC Inland Branch, Boksburg Centre, 29 October 2014 Master of Ceremonies and Chair of Inland Branch 42, Wilson Manganyi; Councillor Paulina Morake; Zonal Leader, Duduzile Nqozo. Comrades, ladies and gentlemen. I would like to begin by thanking the Inland Branch for honouring me with this invitation to address you on what I hope would become an annual event. The topic I have been asked to speak to is one very close to my heart. In my talk I will start by addressing the three closely related concepts in the topic for today: nation-formation in South Africa of which non- racialism and social cohesion are key components. I will then spend the second half of my talk focusing on the way forward and milestones for the future. And unlike other speakers who give the answer to the question right at the end, I will answer the question now: No I do not believe the ANC is failing in its vision of a national democratic society but we are going through some challenging moments which can be addressed by the ANC playing a leading role in conducting open and critical dialogue on the issues of non-racialism and social cohesion. This is not the official line from MISTRA or Luthuli House. It is my personal views as a cadre of the movement and I intend being provocative and controversial in some parts. SOME HISTORY From the beginning of the 20th century debates around how a South African nation can be created have revolved around many propositions. -
Counting the Cost of South Africa's Health Burden
1616 Rhode Island Avenue NW Counting the Cost of South Washington, DC 20036 202-887-0200 | www.csis.org Cover photo: Flickr User Rafiq Sarlie. Africa’s Health Burden AUTHORS A Report of the CSIS Global Health Policy Center Richard Downie JULY 2015 Sahil Angelo Blank Counting the Cost of South Africa’s Health Burden Authors Richard Downie Sahil Angelo A Report of the CSIS Global Health Policy Center July 2015 About CSIS For over 50 years, the Center for Strategic and International Studies (CSIS) has worked to develop solutions to the world’s greatest policy challenges. Today, CSIS scholars are providing strategic insights and bipartisan policy solutions to help decisionmakers chart a course toward a better world. CSIS is a nonprofit organization headquartered in Washington, D.C. The Center’s 220 full- time staff and large network of affiliated scholars conduct research and analysis and develop policy initiatives that look into the future and anticipate change. Founded at the height of the Cold War by David M. Abshire and Admiral Arleigh Burke, CSIS was dedicated to finding ways to sustain American prominence and prosperity as a force for good in the world. Since 1962, CSIS has become one of the world’s preeminent international institutions focused on defense and security; regional stability; and transnational challenges ranging from energy and climate to global health and economic integration. Former U.S. senator Sam Nunn has chaired the CSIS Board of Trustees since 1999. Former deputy secretary of defense John J. Hamre became the Center’s president and chief executive officer in 2000. -
2.4 the Fourth World War: the EZLN Analysis of Neoliberalism
We Are from Before, Yes, but We Are New: Autonomy, Territory, and the Production of New Subjects of Self-government in Zapatismo by Mara Catherine Kaufman Department of Cultural Anthropology Duke University Date:_______________________ Approved: ___________________________ Orin Starn, Co-Supervisor ___________________________ Charles Piot, Co-Supervisor ___________________________ Anne Allison ___________________________ Kathi Weeks ___________________________ Michael Hardt Dissertation submitted in partial fulfillment of the requirements for the degree of Doctor of Philosophy in the Department of Cultural Anthropology in the Graduate School of Duke University 2010 ABSTRACT We Are from Before, Yes, but We Are New: Autonomy, Territory, and the Production of New Subjects of Self-government in Zapatismo by Mara Catherine Kaufman Department of Cultural Anthropology Duke University Date:_______________________ Approved: ___________________________ Orin Starn, Co-Supervisor ___________________________ Charles Piot, Co-Supervisor ___________________________ Anne Allison ___________________________ Kathi Weeks ___________________________ Michael Hardt An abstract of a dissertation submitted in partial fulfillment of the requirements for the degree of Doctor of Philosophy in the Department of Cultural Anthropology in the Graduate School of Duke University 2010 Copyright by Mara Catherine Kaufman 2010 Abstract The 1994 Zapatista uprising in Chiapas, Mexico, created a rupture with a series of neoliberal policies implemented in Mexico and on a global scale over the last few decades of the 20th century. In a moment when alternatives to neoliberal global capitalism appeared to have disappeared from the world stage, the Zapatista Army for National Liberation (EZLN) initiated a movement and process that would have significance not only in Chiapas and for Mexico, but for many struggles and movements around the world that would come to identify with a kind of “alter-globalization” project. -
"Do Not Forget This" Cause, but We Were Sustained and by Dr
i. d. a.! news notes Published by the United States Committee of the International Defense and Aid Fund for Southern Africa P.O. Box 17, Cambridge, Massachusetts 02138 December, 1982 Telephone (617) 491-8343 CANON JOHN COLLINS concerned about apartheid. He was particularly interested in America, for here he sensed a growing consciousness of the evils of 1905-1982 apartheid and a desire to do what can be done to support those The death of the Reverend Canon L. John Collins on December who oppose it. This faith in America caused him to establish our 30, 1982 in the 78th year of his age has brought to a close a great American Committee and to support it to this day. His clerical life of creative service for God and the world; and we, associated colleagues thought him egotistical, intolerant, and a bit fuzzy on with the work of the International Defense and Aid Fund for the niCeties of doctrine. His secular critics thought him "soft" on Southern Africa, have been deprived of our founder, President, the "hard" issues of our times. But there are countless sons and and guiding force. That there is a Defense and Aid Fund today daughters of Africa, exiled or imprisoned, who weep at word of and an ever growing world-wide consciousness of the evils of his death, for they know that in John Collins they have lost an apartheid is due to the Christian outrage, organizational skills, incomparable friend and advocate. I join them in their sense of loss and personal charisma of John Collins. -
Towards a Unified Theory Analysing Workplace Ideologies: Marxism And
Marxism and Racial Oppression: Towards a Unified Theory Charles Post (City University of New York) Half a century ago, the revival of the womens movementsecond wave feminismforced the revolutionary left and Marxist theory to revisit the Womens Question. As historical materialists in the 1960s and 1970s grappled with the relationship between capitalism, class and gender, two fundamental positions emerged. The dominant response was dual systems theory. Beginning with the historically correct observation that male domination predates the emergence of the capitalist mode of production, these theorists argued that contemporary gender oppression could only be comprehended as the result of the interaction of two separate systemsa patriarchal system of gender domination and the capitalist mode of production. The alternative approach emerged from the debates on domestic labor and the predominantly privatized character of the social reproduction of labor-power under capitalism. In 1979, Lise Vogel synthesized an alternative unitary approach that rooted gender oppression in the tensions between the increasingly socialized character of (most) commodity production and the essentially privatized character of the social reproduction of labor-power. Today, dual-systems theory has morphed into intersectionality where distinct systems of class, gender, sexuality and race interact to shape oppression, exploitation and identity. This paper attempts to begin the construction of an outline of a unified theory of race and capitalism. The paper begins by critically examining two Marxian approaches. On one side are those like Ellen Meiksins Wood who argued that capitalism is essentially color-blind and can reproduce itself without racial or gender oppression. On the other are those like David Roediger and Elizabeth Esch who argue that only an intersectional analysis can allow historical materialists to grasp the relationship of capitalism and racial oppression. -
Bill Freund 1944 -2020 Donkey Back in Ios, 1966 Tomato Harvesting in Zaria, 1978 Boston 1982
Bill Freund 1944 -2020 Donkey back in Ios, 1966 Tomato harvesting in Zaria, 1978 Boston 1982 Boston 1981 Chris Saunders I first met Bill in Cape Town in the late 1960s when he was researching the Batavian period at the Cape for his Ph.D. When he heard I was returning to Oxford by sea, he asked me to take the material he had collected in Cape Town with him – this was of course long before the age of computers! - as he wanted to travel back to Europe overland. Having assembled a vast quantity of material for my own thesis, I was astonished when he produced one open shoebox in which were a set of notecards. Until I returned the shoebox to him in Oxford some weeks later, I was aware that if anything happened to it his Ph.D would probably never be completed. When I handed the shoebox back, he did joke that it seemed there were fewer notecards than he remembered. How he wrote a Ph.D based on those notecards remains a mystery, but Bill was of course a superb historian, with a great gift for synthesis, and the way he reinvented himself over the decades, exploring so many diverse and difficult topics, should inspire those of us who remain in narrow research ruts. Now I remember him most for his friendship on three continents, which included putting us up in Cambridge, Mass., Leamington and Durban, and, on one especially memorable occasion, taking us to spend some days at Champagne Castle… Thanks, dear Bill; Go Well… Francie Lund Dearest colleague and friend Bill: I will miss you so much, as mentor, with your hugely comprehensive knowledge and your generosity with shared learning; I will miss your being in Davine's and my home at Christmas time and at parties; I will miss your stories about the places you go to, and your own family history(ies).