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Waqf Development and Innovation : Socio-Economic and Legal Perspectives
Waqf is one of the most potent socio-economic tools for reducing public sector deficit and breaking the chain of intergenerational poverty.Providing a high-level discussion on waqf development and innovation within the context of modern socio-economic and legal developments, this book examines the importance and potentials of waqf and the issues relating to its legal and regulatory framework. The research delivers future directions for countries that plan to explore this socio-economic institution.Readers and policymakers will be able to replicate successful experiments and learn from some failed initiatives to seek alternative funding platforms to support the fiscal policies of developing countries.The volume discusses the relevance and novel application of waqf in the modern economic system and social development, it reviews applicable laws and regulations pertaining to waqf and trust laws and examines critical, cross-country case studies and experiences. Setting an agenda for further researchers in the field of waqf, this comprehensive high-level analysis, with case studies from leading jurisdictions across the world, is a key resource for researchers, policymakers and institutions interested in charitable endowments, Islamic finance, and social finance.
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The Role of Innovation and Entrepreneurship in Economic Growth
This volume presents studies from experts in twelve industries, providing insights into the future role of innovation and entrepreneurship in driving economic growth across sectors. We live in an era in which innovation and entrepreneurship seem ubiquitous, particularly in regions like Silicon Valley, Boston, and the Research Triangle Park.But many metrics of economic growth, such as productivity growth and business dynamism, have been at best modest in recent years.The resolution of this apparent paradox is dramatic heterogeneity across sectors, with some industries seeing robust innovation and entrepreneurship and others seeing stagnation.By construction, the impact of innovation and entrepreneurship on overall economic performance is the cumulative impact of their effects on individual sectors.Understanding the potential for growth in the aggregate economy depends, therefore, on understanding the sector-by-sector potential for growth.This insight motivates the twelve studies of different sectors that are presented in this volume.Each study identifies specific productivity improvements enabled by innovation and entrepreneurship, for example as a result of new production technologies, increased competition, or new organizational forms.These twelve studies, along with three synthetic chapters, provide new insights on the sectoral patterns and concentration of the contributions of innovation and entrepreneurship to economic growth.
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Impact : Stanford University’s Economic Impact via Innovation and Entrepreneurship
Stanford University has a deep history in entrepreneurship and technological innovation.For more than a century, the university has incubated ideas, educated entrepreneurs and fostered breakthrough technologies that have been instrumental in the rise and constant regeneration of Silicon Valley, and, at the same time, contributed to the broader global economy. This book focuses on data gathered from a large-scale, systematic survey of Stanford alumni, faculty, and selected staff in 2011 to assess the university’s economic impact based on its involvement in entrepreneurship.The report describes Stanford’s role in fostering entrepreneurship, discusses how the Stanford environment encourages creativity and entrepreneurship, and details best practices for creating an entrepreneurial ecosystem.The report on the 2011 survey, estimates that 39,900 active companies can trace their roots to Stanford. If these companies collectively formed an independent nation, its estimated economy would be the world’s 10th largest.Extrapolating from survey results, those companies have created an estimated 5.4 million jobs and generate annual world revenues of $2.7 trillion.
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Economic Torts and Economic Wrongs
This book explores contemporary issues in respect of causes of action which operate to protect a plaintiff’s economic interests. It examines the question from across the spectrum of private law.Focusing mainly on common law principles, it looks in particular at the treatment of such causes of action in the United Kingdom, Australia, Canada, Singapore as well as other common law jurisdictions.Addressing both theoretical and doctrinal issues, this important book will appeal to both private law scholars and practitioners.
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Is Erdogan's economic policy smart?
Erdogan's economic policy has been met with mixed reviews. Some argue that his policies have helped boost economic growth and development in Turkey, while others criticize his heavy-handed approach and lack of focus on long-term sustainability. The country has faced challenges such as high inflation, a weakening currency, and growing debt under Erdogan's leadership. Ultimately, the effectiveness of Erdogan's economic policy depends on one's perspective and the specific metrics used to evaluate its success.
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How are economic cycles and economic growth related?
Economic cycles and economic growth are closely related. Economic cycles refer to the fluctuations in economic activity, including periods of expansion and contraction. Economic growth, on the other hand, refers to the long-term increase in a country's output of goods and services. During an economic expansion phase of the cycle, there is typically higher economic growth, as businesses invest and consumer spending increases. Conversely, during a contraction phase, economic growth tends to slow down or even turn negative. Therefore, economic cycles can have a significant impact on the overall level of economic growth in a country.
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How does economic growth occur in the economic cycle?
Economic growth occurs in the economic cycle through a combination of factors. During the expansion phase of the cycle, businesses invest in new equipment and technology, leading to increased productivity and output. This increased production leads to higher employment levels and consumer spending, further fueling economic growth. Additionally, during this phase, consumer and business confidence is high, leading to increased investment and spending. Overall, economic growth occurs as a result of increased production, employment, and investment during the expansion phase of the economic cycle.
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What is the difference between economic system and economic process?
An economic system refers to the structure and organization of an economy, including the institutions, laws, and policies that govern economic activity. It encompasses the overall framework within which economic decisions are made, resources are allocated, and goods and services are produced and distributed. On the other hand, an economic process refers to the specific actions and activities that take place within an economic system, such as production, consumption, investment, and trade. While the economic system sets the rules and parameters for these processes, the economic process involves the day-to-day activities and transactions that drive the economy.
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Economic Crisis and Economic Thought : Alternative Theoretical Perspectives on the Economic Crisis
The ongoing economic crisis has revealed fundamental problems both in our economic system and the discipline which analyses it.This book presents a series of contrasting but complementary approaches in economic theory in order to offer a critical toolkit for examining the modern capitalist economy.The global economic crisis may have changed the world in which we live, but not the fundamental tenets of the discipline.This book is a critical assessment of the relation between economic theory and economic crises: how intellectual thinking impacts on real economic events and vice versa.It aims at challenging the conventional way in which economics is taught in universities and later adopted by public officials in the policymaking process.The contributions, all written by distinguished academics and researchers, offer a heterodox perspective on economic thinking and analysis.Each chapter is inspired by alternative theoretical approaches which have been mostly side-lined from current academic teaching programmes.A major suggestion of the book is that the recent economic crisis can be better understood by recovering such theoretical analyses and turning them into a useful framework for economic policymaking.Economic Crisis and Economic Thought is intended as a companion to economics students at the Master’s and PhD level, in order for them to confront issues related to the labour market, the financial sector, macroeconomics, industrial economics, etc. with an alternative and complementary perspective. It challenges the way in which economic theory is currently taught and offered via alternatives for the future.
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Dynamism : The Values That Drive Innovation, Job Satisfaction, and Economic Growth
Nobel Laureate Edmund Phelps and an international group of economists argue that economic health depends on the widespread presence of certain values, in particular individualism and self-expression. Nobel Laureate Edmund Phelps has long argued that the high level of innovation in the lead nations of the West was never a result of scientific discoveries plus entrepreneurship, as Schumpeter thought.Rather, modern values—particularly the individualism, vitalism, and self-expression prevailing among the people—fueled the dynamism needed for widespread, indigenous innovation.Yet finding links between nations’ values and their dynamism was a daunting task.Now, in Dynamism, Phelps and a trio of coauthors take it on. Phelps, Raicho Bojilov, Hian Teck Hoon, and Gylfi Zoega find evidence that differences in nations’ values matter—and quite a lot.It is no accident that the most innovative countries in the West were rich in values fueling dynamism.Nor is it an accident that economic dynamism in the United States, Britain, and France has suffered as state-centered and communitarian values have moved to the fore. The authors lay out their argument in three parts.In the first two, they extract from productivity data time series on indigenous innovation, then test the thesis on the link between values and innovation to find which values are positively and which are negatively linked.In the third part, they consider the effects of robots on innovation and wages, arguing that, even though many workers may be replaced rather than helped by robots, the long-term effects may be better than we have feared.Itself a significant display of creativity and innovation, Dynamism will stand as a key statement of the cultural preconditions for a healthy society and rewarding work.
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Promoting Sustainable Innovation and the Circular Economy : Legal and Economic Aspects
The book explores the role of public market actors in sustainable and circular economy innovation and financing. The shift to a circular economy requires active innovation, alongside radical changes in law, finance and policy considerations, since regulation is often tightly connected with the assumption of a linear model of consumption.Finance is crucial in creating sustainable and circular economy markets and innovations: public finance is important from the perspective of seeing the state as an engine for promoting sustainable innovations, but private funds are also required.Legislative initiatives for promoting repairs have been proposed or adopted in the EU, US and in Australia, representing remarkable steps forward but still leaving many obstacles without legislative intervention.This book examines circular economy regulation and policy on a comprehensive, general level, as well as assessing the regulatory possibilities of promoting the right to repair.Promotion of circular economy innovations as well as changing the practices and changing consumer patterns towards a more comprehensive adoption of CE are discussed from perspectives of legal, social and moral norms.The book critically evaluates current legislative reforms and assesses existing barriers to the circular economy and innovation in intellectual property law, consumer law and competition law. Providing an in-depth analysis of this dynamic field, geared towards reconsidering both existing and prospective policies and regulatory regime, the book makes recommendations for solutions to legislative barriers.It is an indispensable resource for both researchers and practitioners working at the intersections of markets, innovations and sustainability.
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Economic Geography
Economic geographers study and attempt to explain the spatial configuration of economic activities, including the production of goods and services, their transfer from one economic agent to another and their transformation into utility by consumers.The spatial configuration, which includes both the pattern of activities on the map and the relationships between activities occurring in different places, is the outcome of a vast number of distinct but interrelated decisions made by firms, households, governments and a variety of other private and public institutions.The goal of this book is to provide the student with a rigorous introduction to a diverse but logically consistent set of analytical models of the spatial decisions and interactions that drive the evolution of the economic landscape. The book begins by explaining fundamental concepts that are critical to all topics in economic geography: the friction of distance, agglomeration, spatial interaction, market mechanisms, natural resources and production technologies.The following sections cover major areas of inquiry including multiregional economies, location theory, markets for space and systems of cities.The final section synthesizes and builds on these topics to address two trends that provide particular challenges to economic geographers today: globalization and the emergence of the knowledge economy.
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Are we in an economic crisis or a global economic crisis?
We are currently facing a global economic crisis due to the impact of the COVID-19 pandemic. The pandemic has caused widespread disruptions to economies around the world, leading to job losses, business closures, and financial instability. Governments and central banks have implemented various measures to mitigate the economic fallout, but the full extent of the crisis is still unfolding. The interconnected nature of the global economy means that the effects of this crisis are being felt on a worldwide scale.
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How can sustainable economic activity be reconciled with simultaneous economic growth?
Sustainable economic activity can be reconciled with simultaneous economic growth by implementing policies and practices that prioritize environmental and social considerations alongside economic development. This can include investing in renewable energy, promoting sustainable agriculture, and implementing regulations to reduce pollution and waste. Additionally, businesses can adopt sustainable practices such as reducing energy consumption, minimizing waste, and promoting fair labor practices. By integrating sustainability into economic decision-making, it is possible to achieve economic growth while also preserving natural resources and promoting social well-being for future generations.
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What are economic relationships?
Economic relationships refer to the connections and interactions between individuals, businesses, and governments that involve the production, distribution, and consumption of goods and services. These relationships are based on the exchange of resources, such as money, labor, and capital, to create value and promote economic growth. Economic relationships can take various forms, including trade agreements, investment partnerships, and consumer-producer transactions, and play a crucial role in shaping the global economy.
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What is economic housework?
Economic housework refers to the unpaid labor that individuals, typically women, perform within the household to maintain and care for the home and family. This includes tasks such as cooking, cleaning, childcare, and managing household finances. Despite being essential for the functioning of a household and the well-being of its members, economic housework is often undervalued and goes unrecognized in traditional economic models. This can contribute to gender inequalities in terms of income, career opportunities, and overall well-being.
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