Suchergebnisse

Economic Theory, Applications and Issues (Working Paper N°73) ; Several contemporary economists claim that 'real' economic development only occurred following the Industrial Revolution. We contend that this is only so if a narrow view is taken of what constitutes economic development, namely increasing per capita income. Given a wider perspective, we argue that economic development occurred in hunter-gatherer societies and eventually accelerated in the second stage of the Agricultural Revolution. During this stage, a small dominant class (the elite) were able to extract rent (the economic surplus) from the mass of the population (the dominated) which they could use for development purposes. As a result of this rent extraction, the bulk of the population remained at subsistence level. Nevertheless, dissipation of the rent as a result of population increase was prevented. Consequently, the Malthusian trap could be avoided and the economic surplus could be used by the elite for development or other purposes. Whether or not economic development occurred depended on how the elite allocated the economic surplus. In the second stage of the Agricultural Revolution, the economic surplus was extracted primarily in the form of staples and the exchange of commodities was mostly directly controlled by the elite. This situation changed as states became larger in size and commodities became more diverse. In the few centuries preceding the Industrial Revolution in Europe, monarchs exerted decreasing direct control over the exchange, production and use of commodities. This was particularly noticeable in England. Also devolution of increased political power to nobles and local areas added to principal-and-agent problems. Sovereigns, instead of concentrating on the extraction of the economic surplus in the form of staples, increasingly relied on its extraction and storage in the form of treasures, precious metals and gems. Monarchs (in order to maximize their net extraction) focused on increasing the number of different markets ...

Economic Theory, Applications and Issues (Working Paper N°73) ; Several contemporary economists claim that 'real' economic development only occurred following the Industrial Revolution. We contend that this is only so if a narrow view is taken of what constitutes economic development, namely increasing per capita income. Given a wider perspective, we argue that economic development occurred in hunter-gatherer societies and eventually accelerated in the second stage of the Agricultural Revolution. During this stage, a small dominant class (the elite) were able to extract rent (the economic surplus) from the mass of the population (the dominated) which they could use for development purposes. As a result of this rent extraction, the bulk of the population remained at subsistence level. Nevertheless, dissipation of the rent as a result of population increase was prevented. Consequently, the Malthusian trap could be avoided and the economic surplus could be used by the elite for development or other purposes. Whether or not economic development occurred depended on how the elite allocated the economic surplus. In the second stage of the Agricultural Revolution, the economic surplus was extracted primarily in the form of staples and the exchange of commodities was mostly directly controlled by the elite. This situation changed as states became larger in size and commodities became more diverse. In the few centuries preceding the Industrial Revolution in Europe, monarchs exerted decreasing direct control over the exchange, production and use of commodities. This was particularly noticeable in England. Also devolution of increased political power to nobles and local areas added to principal-and-agent problems. Sovereigns, instead of concentrating on the extraction of the economic surplus in the form of staples, increasingly relied on its extraction and storage in the form of treasures, precious metals and gems. Monarchs (in order to maximize their net extraction) focused on increasing the number of different markets and the extent of these but at the same time, extracted rent from them in the form of levies. Consequently, this Age of Mercantilism was marked by a substantial expansion in marketing even though this was combined with royal imposts on markets. This increase in marketing activities helped to pave the way for the Industrial Revolution by altering the balance of political power and facilitating sales of the products of the Industrial Revolution. Despite this, it seems likely that the Industrial Revolution only happened as a result of the chance occurrence of a combination of events. It was not inevitable.

This research analyzes the stage of regional economic development of Brazil's regions. For this was used the concept of stages of economic development and as a methodological basis was constructed the Regional Economic Development Index (REDI), using social and economic variables. The results showed that in all Brazilian territory there was an improvement in the level of development 2000 to 2010, but persisting disparities between regions. The regions at an advanced stage, in 2000, were concentrated in the Distrito Federal, São Paulo and Rio de Janeiro States, and in 2010 Espírito Santo and Paraná States also started having advanced rationality. While the Southeast and South Brazilian regions showed more developed regions, the North and Northeast Regions and some parts of the Midwest still have more laggards' locations. Finally, the more developed regions have a higher rate of urbanization, greater representation of the secondary and tertiary sectors, higher levels of income and thus lower spending on social programs. Less developed regions show an opposite profile.

This paper studies structural transformation of Soviet Russia in 1928-1940 from an agrarian to an industrial economy through the lens of a two-sector neoclassical growth model. We construct a large dataset that covers Soviet Russia during 1928-1940 and Tsarist Russia during 1885-1913. We use a two-sector growth model to compute sectoral TFPs as well as distortions and wedges in the capital, labor and product markets. We find that most wedges substantially increased in 1928-1935 and then fell in 1936-1940 relative to their 1885-1913 levels, while TFP remained generally below pre-WWI trends. Under the neoclassical growth model, projections of these estimated wedges imply that Stalin's economic policies led to welfare loss of -24 percent of consumption in 1928-1940, but a +16 percent welfare gain after 1941. A representative consumer born at the start of Stalin's policies in 1928 experiences a reduction in welfare of -1 percent of consumption, a number that does not take into account additional costs of political repression during this time period. We provide three additional counterfactuals: comparison with Japan, comparison with the New Economic Policy (NEP), and assuming alternative post-1940 growth scenarios.

This paper studies structural transformation of Soviet Russia in 1928-1940 from an agrarian to an industrial economy through the lens of a two-sector neoclassical growth model. We construct a large dataset that covers Soviet Russia during 1928-1940 and Tsarist Russia during 1885-1913. We use a two-sector growth model to compute sectoral TFPs as well as distortions and wedges in the capital, labor and product markets. We find that most wedges substantially increased in 1928-1935 and then fell in 1936-1940 relative to their 1885-1913 levels, while TFP remained generally below pre-WWI trends. Under the neoclassical growth model, projections of these estimated wedges imply that Stalin's economic policies led to welfare loss of -24 percent of consumption in 1928-1940, but a +16 percent welfare gain after 1941. A representative consumer born at the start of Stalin's policies in 1928 experiences a reduction in welfare of -1 percent of consumption, a number that does not take into account additional costs of political repression during this time period. We provide three additional counterfactuals: comparison with Japan, comparison with the New Economic Policy (NEP), and assuming alternative post-1940 growth scenarios.

Pogátsa Z. (2023): Fenntartható gazdaság vagy társadalmi összeomlás. Kossuth Kiadó, p. 320, ISBN: 9789635449804