Search results for "HC Economic History and Conditions"

Do we value mobility?

2015

Is there a trade-off between people's preference for income equality and income mobility? Testing for the existence of such a trade-off is difficult because mobility is a multifaceted concept. We analyse results from a questionnaire experiment based on simple precise concepts of income inequality and income mobility. We fnd no direct trade-off in preference between mobility and equality, but an indirect trade-off, applying when more income mobility can only be obtained at the expense of some income inequality. Mobility preference - but not equality preference - appears to be driven by personal experience of mobility.

Wealth Creation and Science Research : Science Research, the root of wealth in our Knowledge Society, is endangered

Two vastly dierent historical stages in wealth creation are the traditional one based on agriculture during past millennia, and the one based on science research in our present globalizing knowledge society. The dierences happen to be so considerable, and the emergence of the second stage relatively so recent, that the awareness of the full range of consequences regarding the proper pursuit of science research, which is the root of wealth in our knowledge society, is missing to an extent that may, even in the medium term, seriously endanger the sustainability of modern human society. Here is presented a brief account of some of such dangers, following which a parable, entitled "Is it a mere…

External sustainability in Spanish economy: bubbles and crises, 1970–2020

2023

We address the issue of the sustainability Spain’s exter-nal debt, using data for the period 1970–2020. To detect episodes of potentially explosive behavior of the Spanish net foreign assets over GDP ratio and the current account balance over GDP ratio, as well as episodes of external adjustments over this long period, we employ a recursive unit root test approach. Our empirical analysis leads us to conclude that there is some evidence of bubbles in the ratio between Spanish net foreign assets and the GDP. In contrast, the evidence that the ratio between the Spanish current account balance and the GDP had explosive subperiods is very weak. The episode of explosive behavior identified in the…