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ABSTRACT: Resilience finance is understood as an advancement of Socially Responsible Investments. In the wake of the COVID-19 economic fallout, unprecedented amounts of governmental rescue and recovery aid were allocated towards social and environmental causes. This paper argues that advances in Socially Responsible Investments are resilience finance pegged to noble causes but also ethics and ideologies. The COVID-19 bailout and recovery packages can potentially provide, if well-designed and properly-used, a unique opportunity to develop fairer and sustainable societies. Finance can imbue responsibility in the post-COVID-19 era in the establishment and fortification of the current Sustainable Development Goals but potentially also in negative screenings and sanction mechanisms in international law infringements. The article argues for a comparative Behavioral Law & Economics approach to understand the most contemporary international finance politics and responsible investment trends around the world. KEYWORDS: Climate Change, Climate Stabilization, Comparative Law & Economics, Coronavirus crisis, COVID-19, Digitalization, Economics, Economics of the Environment, Environmental Justice, Environmental Governance, Equality, Law & Economics, Healthcare, Monetary policy, Rescue and recovery aid, Redistribution, Social Justice, Socially Responsible Investment, Sustainability, Sustainable Development Goals

ABSTRACT: The time for defashionization has come. With the United Nations Conference of the Parties COP26 heralding the call for attention to sustainable fashion, society is ripe to question the whims of fashion's impact on sustainability. Is the luxury moment of our time harmony with nature and practicing degrowth in recycling to cherish sustainability? Already in the historic political economy foundations of capitalism, workers are described to produce in order to consume. Classic business cycle theory and the creative entrepreneur portray a human-innate need for change and innovation as the spring feather of capitalism. In capitalist societies, there is a race for innovation of entrepreneurs and offering new products on a constant basis in order to evade the falling rate of profit. Capitalist constantly innovate in order to offer new products in markets and reap the highest rate of return and profit from consumers, who constantly want to change and have access to changing products. Producers of goods are in a competitive race for innovation and offering new products to ever-innovation-seeking consumers. The constant pressure to innovate and offer new products on the supply side and the constant production for a salary in order to consume the newest goods and services lie at the core of capitalist societies. Climate change and the Sustainable Development Goals but also the Green New Deals in the United States and Europe as well as the New Generation EU have formulated aspirational goals of sustainability. The circular economy and conscientious consumption have become the en vogue trends of our times. The novel Coronavirus crisis COVID-19 has also driven demand for rest, recovery and degrowth. COVID Long Haulers in particular appear to favor harmony with the environment in agrohoods driving trends of deurbanization but also biophilia trends that resemble nature in interior design and clean unprocessed nutrition. How is our classic understanding of business cycles' reinvention drive and the innovative ...

ABSTRACT: Advances in Behavioral Economics and Finance Leadership are likely to show these three speculative trends and focus attention on: Ethics of Inclusion in the wake of social justice pledges will demand a comparative approach to understand the most contemporary responsibility challenges of our time. With the COVID-19 pandemic having exacerbated existing inequalities and rising new gaps within society, inequality alleviation will become essential in the post-COVID-19 era in the domains of access to affordable healthcare, finance, education, digitalization and sharing the burden to protect the environment. Law and Economics developments may aid in envisioning a transition to a more inclusive society. While the legal analysis grants insights about the disparate impact of policies, the economic analysis allows to study efficiency of burden sharing over time and with consideration of externalities. Digitalization offers unprecedented human advancement and democratization potential free from corruption. At the same time, shifting marketplaces to online virtual spaces opens gates for misinformation and disinformation being used in a competitive sense. Ethics of inclusion, Law and Economics advocacy and interdisciplinary dialogue building but also human-artificial intelligence algorithm compatibility are expected to become key advancements in behavioral economics and finance leadership of the future. KEYWORDS: Artificial Intelligence, AI, Behavioral Economics, Coronavirus, COVID-19, Digitalization, Education, Environment, Finance, Finance Leadership, Generation COVID-19, Healthcare, Inclusion, Inequality, Law & Economics, Social Justice, Sustainability, Trend Analysis

ABSTRACT: The external shock of the novel coronavirus SARS-CoV-2 has profound impacts around the world for this generation and the following. Although accounting for the most drastic societal shift in modern history, the Coronavirus pandemic also holds the potential of a Great Reset. This paper addresses three trends that have become prevalent in the wake of the Coronavirus pandemic: (1) A rising inequality experienced has led to demands for Corporate Social Justice, namely the corporate engagement in social justice initiatives and action. (2) The finance world has had opportunities to diversify and exchange COVID-struck industries for COVID-profiting market segments and therefore a rising financial market performance versus real economy budget constraint gap has arisen. (3) Governments around the world are pegging economic COVID-19 rescue and recovery aid to pursue noble goals – such as climate change abatement and a transitioning to renewable energy in the United States Green New Deal and the European Green Deal and the European Sustainable Finance Taxonomy. These trends point at the integration of environmental, social and corporate governance in the corporate sector. The aftermath of the crisis is now a time for a great system reset to integrate environmental, social and corporate governance in the corporate and finance sectors. Future economic policy research may be inspired by legal expertise on disparate impact. With respect for current trends of citizen scientists and science diplomacy, public policy work may embrace environmental, social and corporate governance whole-roundedly. While natural behavioral laws were guiding anchors to address inequality during a turbulent time of the pandemic, more rational behavioral insights could nudge people into more equitable growth strategies in a recovering world. Keywords: Change management, Corporate Social Justice, Coronavirus, Corporate sector, COVID-19, Disparate impact, Environmental, European Green Deal, Social and Corporate Governance (ESG), Equitable ...

ABSTRACT: The currently ongoing COVID-19 crisis has challenged healthcare around the world. The call for global solutions in international healthcare pandemic outbreak monitoring and crisis risk management has reached unprecedented momentum. The novel coronavirus SARS-CoV-2 imposes the most unexpected external economic shock to modern humankind, triggering abrupt consumption and behavior pattern shifts around the world with widespread socio-economic impacts. In order to alleviate unexpected negative fallouts from the crisis, governments around the world have incepted the largest ever amount of strategic economic bailout rescue and recovery packages that particularly focus on economic and social targets. The potential focus of bailouts and recovery ranges from urban-local and national to even global and future-oriented beneficiaries, as pursued in public investments on climate stabilization in the United States Green New Deal or the European Green Deal Sustainable Finance Taxonomy. Large-scale and future-oriented governmental investments are valuable macroeconomic multipliers that can benefit society as a whole in the short run and long term. Economic multipliers trickle down positively in society since governmental spending incepting projects leads to increased salaries, opportunities to support a family and employ other people in the consumption of goods and services, to name a few economic multiplying growth opportunities in the wake of governmental spending. This paper proposes the idea that multiplier effects may vary based on the causes that receive governmental funding. Evidence of country differences in multiplier effectiveness already exist. Multipliers also appear to trickle down in society with a certain time lag. Lastly, multiplier effects can also be negative if the government chooses to cut spending during austerity measures. The discussion proposes potential future hypothesis testing opportunities for investigating healthcare dependent multipliers. Given the enormous amount of governmental COVID ...

ABSTRACT: The fields of law and economics are hallmarks of social sciences. Legal studies account for the oldest foundations of scholarly work and have ever since been part of academic institutions. Since the inception of the science of economics, this standardized way of measuring utility had rising popularity. Surprisingly, the interdisciplinary discourse of Law & Economics has just recently started in the previous decades. In today's world, the time has come to acknowledge the power of integrating Law & Economics as a most important approach to solve the most pressing issues of our contemporary times. Climate change, inequality and the introduction of Artificial Intelligence (AI) into our society will require the bundled strength of Law & Economics to successfully understand, harness the positive advancement but also curb harmful consequences of the opportunities and threats of our contemporary society. Law offers a humane-ethical clarity, governmental impetus and practical feasibility but also historical adaptability to implement societal changes including a legal birds-eye view of comparative approaches around the world, an exemplary sensitivity to disparate impacts of external influences on society but also clear guidelines how far the individual freedom can be granted in light of common security protection and societal welfare enhancement. Economics features the most advanced discounting of future value methods, an exemplary formalization of societal welfare maximization over time but also the most sophisticated ways to quantify societal losses over time and in often-overlooked or behaviorally-unforeseen externalities. Only in the harmonious combination of both disciplines will the most pressing contemporary predicaments of our time be solved and widespread inequalities be alleviated through fine-tuned redistribution mechanisms. Acknowledging the power of an interdisciplinary approach and cherishing a unique field of Law & Economics can help bridge the gap between societal entities. ...

ABSTRACT: Overall the following article innovatively paints a novel picture of the mass psychological underpinnings of business cycles based on information flows in order to recommend how certain communication strategies could counterweight and alleviate the building of disastrous financial market mass movements. Acknowledging that human beings are connected to and interact with each other in families, ties and larger networks of states, nations and intergovernmental institutions, studying the role of information in building socially-constructed economic correlates promises to explain how market outcomes are developed in the social compound and can be guided by media communication. Addressing problems of the neoclassical assumption of perfect information markets through the lens of 'real competition,' the following paper will specifically unravel how contemporary media communication produces certain types of price expectations that form consumption patterns leading to collectively-shared economic outcomes. An introduction to the history of economic cycles will lead to the analysis of the role of information in creating economic booms and busts in the age of globalization. Applying emergent risk theory onto economic fluctuations will serve as an innovative way to explain how and what information represented in the media creates economic ups and downs. Linguistic roots of news about the economy are aimed at shedding light on how media representations and temporal foci echo in economic correlates and shape market outcomes. As business cycles are a collective phenomenon, group interactions' potential contribution to create business cycles will innovatively be outlined and the role of information flows among groups in creating price expectations unraveled. Business cycles will also be shown to obey some kind of natural complexity, as for being whimsically influenced by socio-historic and political trends. Recommendations how to create more stable economic systems by avoiding emergent risks and communicating market ...

ABSTRACT: Monitoring and Evaluation (M&E) is used in the assessment of the performance of projects, institutions and programmes by governments, international organizations, Non-governmental organizations (NGOs) as well as social media campaigns. The goal of M&E is to improve the current and future management of outputs, outcomes and impact. As the continuous assessment of programmes, M&E grants insights for the controlled evolution of large-scale projects' relevance, effectiveness, efficiency and impact on a grand scale and with a future-oriented outlook. This article applies an M&E lens to the United States' Green New Deal (GND) as well as its European pendant the European Green Deal (EGD). Both programs are large-scale endeavors with a long-term impact. KEYWORDS: Climate Bonds, Climate Change, Economics of the Environment, Ecotax, Environmental Justice, Environmental Governance, Fiscal Policy, Green New Deal, Monetary Policy, Multiplier, Sustainability, Teaching

ABSTRACT: The Green New Deal (GND) is a governmental strategy to strengthen the United States economy and foster inclusive growth. The GND is targeted at sharing economic growth benefits more equally within society. How to align economic interest with justice and fairness notions is the question of our times when considering the massive challenges faced in terms of environmental challenges, healthcare demands and social justice pledges. First, this paper will outline what the GND is, how the GND is implemented and why it matters in its multiple implementation facets and international angles. Second, the Green New Deal will be presented as a possibility to make the world and society more equitable in the domains of environmental justice, access to affordable healthcare and social justice excellence. Ethical imperatives and equity mandates lead the economic rational behind redistribution in the GND as social peace, health and favorable environmental conditions are prerequisites for productivity. The GND offers hope in making the world and society but also overlapping generations more equitable and thus to bestow peace within society, around the world and over time. In answering the question if the GND is equitable, one has to acknowledge that the GND is a fairly novel phenomenon with international variations and diverse implementation strategies. KEYWORDS: Access to Affordable Healthcare, Climate Change, Economics of the Environment, Environmental Justice, Environmental Governance, Green New Deal, Healthcare, Monetary Policy, Multiplier, Social Justice, Sustainability

ABSTRACT: The currently skyrocketing digitalization disruption in the wake of COVID-19 holds the potential to revolutionize higher education. Digitalized education and conglomerates in the educational sector may lead to universities becoming truly global temples of information exchange. The lockdowns have also steered a wave of emotional outcry for social justice and participatory decision making. Future universities may thus also focus on embracing collective decision making and participatory leadership through the students. The future Didemoversity will thus likely feature elements of digitalization globalization and hallmarks of democracy such as participation in flat hierarchies to pursue a higher goal of universities to become social transformers and great equalizers. KEYWORDS: Conglomerates, Collective decision making, COVID-19, Democracy, Didemoverity, Education, Equality, Inequality, Lottery, Participatory decision making, Social justice, Social transformation

ABSTRACT: The currently ongoing introduction of Artificial Intelligence (AI), robotics and big data into our contemporary society causes a market transformation that heightens the need for ethics in the wake of an unprecedented outsourcing decision making to machines. Artificial Intelligence (AI) poses historically unique challenges for humankind. This chapter will address legal, economic and societal trends in the contemporary introduction of Artificial Intelligence (AI), Robotics and Big Data derived inferences. In a world, where there is a currently ongoing blend between human beings and AI, the emerging autonomy of AI holds unique potentials of eternal life but also imposes pressing legal and ethical challenges in light of AI gaining citizenship, overpopulation concerns and international development gaps. The current legal status of AI and robotics will be outlined with special attention to consumer protection and ethics in the healthcare sector. The unprecedented economic market revolution of outsourced decision making to AI will be captured in macroeconomic trends outlining AI as corruption free market solution, which is yet only prevalent and efficient in some parts of the world. Finally, a future-oriented perspective on the use of AI for enhancing democracy and diplomacy will be granted but also ethical boundaries envisioned. The mentioned transition appears to hold novel and unprecedentedly-described freedom challenges in our contemporary world. In an homage to freedom, the following paper first lays open these freedom-threatened areas in order to then provide strategies to alleviate these potential freedom deficiencies but also set new freedom potential free. KEYWORDS: AI, Artificial Intelligence, Climate change, Climate justice, Discrimination of excellence, Freedom

ABSTRACT: The introduction of Artificial Intelligence (AI) in our contemporary society imposes historically unique challenges for humankind. The emerging autonomy of AI holds unique potentials of eternal life of robots, AI and algorithms alongside unprecedented economic superiority, data storage and computational advantages. However, the introduction of AI to society also raises ethical questions. What is the social impact of robots, algorithms, blockchain and AI entering the workforce and our daily lives on the economy and human society? Should AI become eternal or is there a virtue in switching off AI at a certain point? If so, we may have to define a 'virtue of killing' and a 'right to destroy' that may draw from legal but also philosophical sources to answer the question how to handle the abyss of killing with ethical grace and fair style. In light of robots already having gained citizenship and being attributed as quasi-human under Common Law jurisdiction, should AI and robots be granted full citizen rights – such as voting rights? Or should we simply reap the benefits of AI and consider to define a democracy with different classes having diversified access to public choice and voting – as practiced in the ancient Athenian city state, which became the cradle of Western civilization and democratic traditions spread around the globe. Or should we legally justify AI slaves to economically reap their benefits, as was common in ancient Rome, which became the Roman Law legal foundation for Continental and some of Scandinavian Law traditions and which inspired very many different codifications around the world. Finally, we may also draw from the Code Napoléon, the French Code Civil established under Napoleon in 1804, which defined male and female into two classes of human with substantial right and power differences, and – to this day – accounts for one of the few documents that have influenced the whole world in legal and societal ways. In asking critical questions and unraveling the ethical boundary conditions ...

The introduction of Artificial Intelligence (AI) in our contemporary society imposes historically unique challenges for humankind. The emerging autonomy of AI holds unique potentials of the eternal life of robots, AI and algorithms alongside unprecedented economic superiority, data storage, and computational advantages. However, the introduction of AI to society also raises ethical questions. What is the social impact of robots, algorithms, blockchain and AI entering the workforce and our daily lives on the economy and human society? Should AI become eternal or is there a virtue in switching off AI at a certain point? If so, we may have to define a 'virtue of killing' and a 'right to destroy' that may draw from legal but also philosophical sources to answer the question how to handle the abyss of killing with ethical grace and fair style. In light of robots already having gained citizenship and being attributed as quasi-human under Common Law jurisdiction, should AI and robots be granted full citizen rights – such as voting rights? Or should we simply reap the benefits of AI and consider to define a democracy with different classes having diversified access to public choice and voting – as practiced in the ancient Athenian city-state, which became the cradle of Western civilization and democratic traditions spread around the globe. Or should we legally justify AI slaves to economically reap their benefits, as was common in ancient Rome, which became the Roman Law legal foundation for Continental and some of Scandinavian Law traditions and which inspired very many different codifications around the world. Finally, we may also draw from the Code Napoléon, the French Code Civil established under Napoleon in 1804, which defined male and female into two classes of human with substantial right and power differences, and – to this day – accounts for one of the few documents that have influenced the whole world in legal and societal ways. In asking critical questions and unraveling the ethical boundary conditions of our ...

ABSTRACT: Behavioral Economics revolutionized mainstream neo-classical economics. A wide range of psychological, economic and sociological laboratory and field experiments proved human beings deviating from rational choices as standard neo-classical profit maximization axioms failed to explain how human actually behave. Human beings rather use heuristics in their day-to-day decision making. These mental short cuts enable to cope with a complex world yet also often leave individuals biased and falling astray to decision making failures. What followed was the powerful extension of these behavioral insights for public administration and public policy making. Behavioral economists proposed to nudge and wink citizens to make better choices for them and the community. Many different applications of rational coordination followed ranging from improved organ donations, health, wealth and time management, to name a few. Yet completely undescribed remains that the implicit hidden persuasion opens a gate to deception and is an unprecedented social class division means. Social media forces are captures as unfolding a class dividing nudgital society, in which the provider of social communication tools can reap surplus value from the information shared of social media users. The socio-ethical crises that are rooted in the contradictory class division of the nudgital society are presented in this paper for the first time and from there on demand for further description and research on capitalism and democracy in the digital age. The paper advocates for a democratisation of information, education about nudges and well-informed distribution of transparent governance control. KEYWORDS: Behavioral Economics, Behavioral Political Economy, Democratisation of information, Education, Exchange value, Governance, Libertarian Paternalism, Nudging, Nudgital, Right to delete, Right to be forgotten, Social media, Social media capitalist-industrialist, Social media consumer-worker, Social media slavery, Surplus Value, Use value, Winking, ...

ABSTRACT: Political economy concerns historical, legal and heterodox economics analysis of complex systems. This article attempts to analyze the current state of the European Union from historical, legal and interdisciplinary economics perspectives. Historically, the ancient Athenian democracy, the Holy Roman Empire and the early formation of the United States serve as examples of early innovative legal constructs of their times that were sui generis and share key features with the current European Union. Regarding legal developments, this paper discusses the bicameral parliamentary structure, electoral processes and populist pressures. The future of the European Union economy is likely to see an AI (r)evolution shaping markets and rising big data revenues. This develop necessitates the creation of a fifth fundamental freedom of data transfer within the European Union, as well as taxation of growth generated by big data. Heterodox economic growth theories will increasingly have to account for this growth. KEYWORDS: Ancient Athenian democracy, Artificial Intelligence (AI), Bicameral parliament, Big data, Electoral system, European Union, Holy Roman empire, market disruption, political economy, Populist pressures, Taxation, United States