SOCIALIZATION OF INVESTMENT The idea of socializing investment was introduced in 1936 by John Maynard Keynes in his General Theory of Employment, Interest, and Money. In the concluding chapter of the book, Keynes identified three major tasks to be undertaken in order to save capitalism from its own demise: “parting with liquidity,” “euthanizing the rentiers,” and socializing investment. The thr...

Recently, in order to explore the mechanism behind wealth or income distribution, several models have been proposed by applying principles of statistical mechanics. These models share some characteristics, such as consisting of a group of individual agents, a pile of money and a specific trading rule. Whatever the trading rule is, the most noteworthy fact is that money is always transferred fro...

The study aimed at showing how to create and release cryptocurrency, based on which one can introduce a new generation of this money that can continue its life in the quantum computers space and study whether cryptocurrency could be controlled or the rules should be rewritten in line with new technology. Regarding this, we showed the evolution of money and its uses in economic relations. Accord...

We assume that people value employment not only to earn income to satisfy their consumption needs but also as a means of community/social involvement that provides socio-psychological (non-pecuniary) benefits. We show that the latter incentive can encourage full employment harvesting resources and explain why poor resource-based communities may exhaust a natural resource in a finite time even i...

I you have been monitoring the anecdotal evidence lately, you may be under the impression that the employment of physicians is universal in the United States and independent physicians (i.e., those who own their practices) have gone the way of the dinosaur. This perception, while not accurate, is not implausible either. Yes, there are still physicians in America who own their own shops, hire th...

Post-transitional labour markets of the Central and East European countries have been characterised by marked regional differences. This paper will concentrate on the spatial pattern of job creation, determined by the allocation decisions of foreign and domestic investors. Regions with the highest employment rates may boast high doses of FDI inflows, while low employment regions have been suffe...

“I am just a stereotype” sang Terry Hall in 1980. Ariola records took them in and made the band The Specials a world success. How will that process go in 2014? Will they put it on You Tube for free? Do they need a record company? Will they have less or more fans, earn less or more money? Focus group interviews with 90 people between the ages of 15 and 25 were successfully employed to create 20 ...

Economists usually assume that any sex difference in earnings after controlling for human capital and occupational segregation is largely (though not entirely) attributable to ‘‘discrimination’’. From the evolutionary psychological perspective, I argue that ‘‘discrimination’’ (or any other external constraint) is unnecessary to explain the partial effect of sex on earnings if men and women are ...

Previous studies have found that self-employed workers with long business tenure earn less than other workers with similar characteristics. This difference in earnings can be explained by the compensating wage differential theory when self-employed jobs have attractive non-earnings aspects. Using the National Longitudinal Survey of Youth 79 (NLSY79), I test whether moves in and out of self-empl...