economy Archives

What tangled webs we weave: Measuring federal public expenditure

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The researchers found that social assistance has little effectiveness in improving the social wellbeing of households.

The Social Accounting Model (SAM) is used in social and economic analyses to explain the transfers made between institutional sectors. It quantifies these exchanges to analyse the financial and economic structure of a country, as well as the resulting social benefits. Dr Marcela Astudillo Moya and Dr Raúl Porras Rivera at the National Autonomous University of Mexico apply the recommendations […]

A capital question: How did Marx identify accumulation of capital?

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Paul Zarembka argues that a more holistic definition of capital accumulation invites a better understanding of the social conditions by which people are transformed and made exploitable under capitalism.

‘Accumulation of capital’ is a ubiquitous concept in political economy and central to Marxist theory. Classical economists before Marx defined the concept as gathering ever-greater means of production – ie tools, machinery, buildings, and raw materials. Marxist theorists commonly accept a classical understanding and fail to exploit the essence of Marx’s own concept. Paul Zarembka, Research Professor of Economics at […]

Sufficiency economy philosophy: buddhism-based sustainability framework in Thailand

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Buddhism-based sustainability framework in Thailand The Thai Sufficiency Economy Philosophy (SEP) framework directly reflects the concept of Buddhism. In fact, the word root of Buddha’s teachings, Dharma (Dhamma in Pali), literally means “sustain.” One of the central doctrines of Dharma is to take a middle path between the two extremes of continuum, namely maximizing growth and minimizing utility or […]

Institutional investors and information acquisition: Implications for asset prices and informational efficiency

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The research of Dr Adrian Buss (INSEAD) and Matthijs Breugem (Collegio Carlo Alberto) explores how the growth of assets under management by institutional investors with relative performance concerns influences the efficiency of financial markets, asset prices and investors’ portfolio returns. The team have developed a theoretical framework which illustrates, among others, that ‘benchmarking’ distorts the informational efficiency of stock prices. […]