Re-understanding the role of the market and the government in resource allocation: what is the relationship between them?

As the Earth’s resources are utilized, we are increasingly seeking access to space-based resources. One of the most promising solutions to the problem of resource scarcity is asteroid mining. However, it brings with it the problem of resource allocation. Because of the different levels of development of countries, the way of equal distribution is not reasonable. In this paper, we firstly elaborate and define the abstract global equity in a concrete way, linking global equity with comprehensive national strength, and build a new global equity model on this basis. In this way, we can apply the established model to the distribution of space-based resources or other resources. This paper first establishes the corresponding relation between global equity and comprehensive national power, and then determines several important indexes affecting comprehensive national power according to Klein equation. Further, this paper selected four representative large countries and determined the data of each country in each important index by consulting relevant materials. On this basis, the analytic hierarchy process was used to determine the weight of each country in resource allocation. By comparing the weight index obtained by the model in this paper with the actual resource allocation ratio, we can find that they are in good agreement [1]. Therefore, it can be concluded that when allocating space-based resources or other resources, we can use the global equity model established in this paper to calculate the weight index and allocate resources on this basis to ensure the realization of global equity [2].

SummaryThe new institutional literature widely acknowledges the benefits of growth‐enhancing institutions but rarely discusses the path of institutional reform. While good institutions stabilize the structure of exchange and decrease uncertainty in market transactions, institutional reform may involve institutional volatility. If institutional volatility increases uncertainty, it can mitigate the benefits of reform. Using a sample of 89 countries from 2000‐2015, this paper empirically examines the effects of institutional volatility on economic growth. We find that institutional volatility decreases economic growth, particularly during liberalization for countries with low quality institutions and low income. In fact, a one standard deviation increase in volatility decreases growth by about 0.50 percentage points. This finding is robust to multiple estimation techniques and omitted variable bias. Evidence is provided suggesting that this effect is partially mediated through volatility's impact on private investment. These results support prior works that policy makers should pursue economic freedom, but our work indicates they should do so along a stable reform path to maximize economic growth.

Conclusions * Romania has made enough progress in its political reform efforts and treatment of ethnic minorities to warrant consideration for NATO candidacy. * Romania, though, still has much unfinished business to accomplish in basic treaties with some neighbors and in economic reform. When economic reform is implemented and necessary accelerated military downsizing occurs, civil-military frictions will test democratic control mechanisms. * NATO needs to design a clear plan to keep Romania on the reform path. Romanian Actions Offer Marked Inprovement The question of Romania's readiness for NATO membership has recently become a significant policy issue. Romania had always been a dark horse among potential NATO candidates, in part, because its revolution had a slow start, its diplomatic effort had been diffuse and ineffective, and unlike Poland it had no political constituency in the United States. NATO's enlargement has evolved from the January 1994 Brussels' Summit announcement of the Partnership for Peace (PFP) program and its commitment to enlarge the Alliance to the December 1996 Brussels' North Atlantic Council (NAC) ministerial announcement that the Alliance actually would invite new members at the July 1997 Madrid Summit. Recently, however, attention has refocused on whether Romania is getting a fair shake. Reassessing Romania's is appropriate not only because Romania has recently demonstrated significant progress in its domestic policies and diplomatic efforts, but also because NATO has significantly defined membership conditions for new members. NATO's Enlargement Principles The Alliance began developing general for enlargement in the PFP program launched in January 1994 and in the NATO Enlargement Study, commissioned by the December 1994 Brussels NAC ministerial, and briefed to the Partners in September 1995. Also during this period, President William Clinton's speeches and Secretary of Defense William Perry's five principles emphasized that new members should conform to basic of political reform. These include democratic elections, individual liberty, and the rule of law; demonstrated commitment to economic reform and market economy; adherence to OSCE norms and involving ethnic minorities and social justice; resolution of territorial disputes with neighbors; and the establishment of democratic control of the military. The NATO Enlargement Study also stipulated further what constitutes effective democratic control of the military as well as some minimal degree of NATO interoperability and military capability. In addition to active participation in PFP, new members would have to ensure that adequate resources are available to assume the added and considerable financial obligations of joining, and to develop necessary interoperability-to include: (1) defense management reforms in areas such as transparent defense planning, resource allocation and budgeting, appropriate legislation, and parliamentary and public accountability; and (2) minimal standards in collective defense planning to pave the way for more detailed operational planning with the Alliance. Finally, new members should not close the door to future candidate members. Using the standards that NATO has adopted, we can now examine where Romania stands in its candidacy for membership. Romania's Candidacy (1) Political reform/democratization Romania's political transformation got off to a slow start after the violent overthrow of Nicolae Ceausescu in 1989. The National Salvation Front (NSF) filled the initial vacuum, followed by growing polarization between the newly-formed democratic movements and parties and the NSF-controlled Government in January and February 1990. The May 1990 elections maintained Ion Iliescu as President and Petre Roman as Prime Minister. Conflict soon developed between the Ion Iliescu-Petre Roman group and democratic forces, followed by the breakup of the Iliescu-Roman alliance and the fall of the moderately reformist Roman Government in September 1991. …

Economic valuation of environmental resources (and consequently their degradation) can help make decisions on resource utilization and allocation more meaningful. However, degradation and depletion or restoration and regeneration cannot be always valued through market transactions. This is so because, unlike material artifacts, environmental amenities (clean air, unpolluted beaches etc.) are seldom bought and sold in the market. As a result, there is no comparable estimate of the value of environmental amenities. Decisions on resource utilization, degradation of amenities and resource allocation are often made without any estimate of the value of the amenity in question. In such situations, it is observed that the resource goes unpriced; environmental amenities are often either ignored or treated as having zero value. Consider an air polluting industry, for example. If the economic value of air quality degradation can be incorporated into the cost—benefit analysis the resultant conclusions will be more holistic and comprehensive than compared to one which treats clean air as a ‘free’ resource.

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Should a person who cannot appreciate the moral significance of legal norms qualify as a blameworthy actor simply because he has the capacity to comply with them for non-moral reasons? Such a person may lack any empathy for other human beings and view moral norms as arbitrary restraints on his self-interested behavior: does he nevertheless deserve moral blame when he makes an instrumentally “rational choice” to breach a norm governing his action? Should our answers to these questions depend on whether we believe that the actor is morally responsible for lacking these moral emotions and understandings? In short, must we concern ourselves with those aspects of the agent's character – his goals, desires, values, emotions, and perceptions of what courses of action are available to him – that motivate his rational choices? Or are questions about what motivates the actor to exercise his capacity for rational choice irrelevant to our judgments concerning his moral culpability for violating some governing norm?One way of thinking about such questions is to ask what attributes a person must possess to qualify as an appropriate addressee of moral norms and a suitable object of moral blame. Must a moral agent have the capacity to respond to moral norms as a reason for his choices? Must he also be able to control those aspects of his character that impair his capacity to make moral choices?Most legal theorists insist that moral agents do not need such capacities to be fairly blamed for violating the minimal moral restraints that the criminal law imposes on their self-interested acts.

Hipokratova prisega je najbolj slavna etična izjava hipokratskih spisov. Zdravnika zavezuje k najvišjim tehničnim in etičnim standardom, ki so se ohranili do danes. Raziskovanje besedila prisege in hipokratske misli odpira različne plasti in razsežnosti razumevanja etičnih norm, zdravja, bolezni, narave in življenja.Kompleksnost hipokratske morale terja pri razlaganju sodelovanje različnih ved in odpira vedno nove možnosti za raziskovanje, vrednotenje in prispevek k boljšemu razumevanju celote hipokratske misli, ki neločljivo poveže strokovna in moralna vprašanja medicinske prakse in teorije v interakciji z naravnim in družbenim okoljem človeka.

PurposeIn the context of India's growth and development benchmarked against China, this paper aims to address two important research questions: How do the growth models and market potential of China and India compare? What are some policy lessons to be learned?Design/methodology/approachThis paper presents a critical analysis and review of the empirical results.FindingsWhile India has adopted policies that have stimulated consumer demand and fostered entrepreneurship, China has adopted policies that have encouraged resource‐mobilization. China's physical infrastructure, while impressive, may have come at the cost of social investments (e.g. primary and secondary education). Empirical result shows that social investments are important for an economy's sustained growth, more than incentives to attract foreign direct investments. While the structure of the economy appears to be more promising for India, there is one enigmatic issue yet to be understood: China's path of economic development (agriculture to industry to services) has been demonstrated to be viable but India's path of development (almost directly agrarian to services‐based) may or may not be viable (the jury is still out). Finally, data from China and India are not yet discriminating enough to answer the question: is growth driven by greater export‐import trade recommended for long‐term and stable growth?Originality/valueThis study shows that while China and India have adopted two different models of growth, India's model is likely to be more sustainable.

China is characterized by uneven distribution of resources and regional economic development. It is necessary to strengthen inter-provincial electricity market construction, break inter-provincial barriers, and promote the optimization of the distribution of electricity resources in a larger area. The inter-provincial market is to promote the optimal allocation of electricity resources on a larger scale in each province and to promote the flow of electricity resources from electricity-rich areas to electricity-scarce areas. Therefore, this paper firstly analyzes the significance of the inter-provincial electricity spot convergence mechanism to play the role of the inter-provincial market in optimizing the allocation of resources on a large scale, and then constructs a model of inter-provincial and intra-provincial spot market transactions, analyzes the convergence mode of the two levels of market transactions under the convergence mechanism, and finally puts forward an outlook on the construction direction of China's future inter-provincial renewable energy market transaction mechanism.

Copyright is an important part of marketplace framework policies that support creative industries. Copyright is also increasingly relevant to broader economic and industrial policy. Market-oriented justifications for copyright, therefore, factor heavily in debates about copyright law and policy reform. In this context, discourse often revolves around copyright as a property right, which underpins market transactions. This chapter endorses market-oriented approaches towards copyright as a means to promote creators’ interests, consumers’ interests, and the public interest. The conception of copyright as a property right is consistent with the basis of general policymaking in free market economies. Two caveats are, however, important to understand how proprietary rights for creators can and do promote the public interest. First, like all property rights, copyrights are not absolute but appropriately limited by other individual rights and social values. Second, in order to function effectively, copyright entitlements should be structured to facilitate, not frustrate, free market transactions. This chapter explains why and how copyright’s currently layered and fragmented bundles of rights inhibit the public interest in developing efficient copyright markets. An appropriately limited and structurally simplified bundle of rights, as suggested in this chapter, would increase the efficiency of copyright markets and grow the size of creative industries. More efficient markets will lead to more choices and lower prices for consumers, as well as increased economic opportunities for creators to reach a larger market. However, such market-oriented approaches may also concentrate power, increase inequality, and marginalise individual creators. This chapter mentions three practical mechanisms to address such concerns: collective bargaining to achieve fairer contracting in creative industries; class action litigation to enforce common rights of individual creators; and certified branding schemes to promote fair trade and equitable consumption of creative content. The purpose of presenting such mechanisms in this chapter is not to exhaustively debate their merits or resolve doctrinal implementation issues. Rather, these mechanisms merely illustrate the range of options available to mitigate certain adverse impacts that a market-oriented copyright policy might have. This chapter focuses on examples from Canada that other countries, or the international policymaking community, may find informative. Importantly, regulatory policy mechanisms to achieve fairer market transactions need not be embedded directly into copyright statutes or the common law. Copyright should not be expected to shoulder the entire load of protecting the public interest in creative industries. It can and should be assessed and reformed as part of a broader package of marketplace framework policies. With better integrated framework policies both protecting and regulating copyright, markets can work better for creators, consumers, and the public interest.

Managing Globalization: Lessons from and India. Edited by David A. Kelly, Ramkishen S. Rajan, and Gillian H. L. Goh. Singapore: World Scientific, 2006. Pp. 481. and India, two fastest-growing and most populous nations in the world, have been attracting greater attention from experts and policy-makers in recent years. This book brings together various contributions by Chinese and Indian scholars for the Inaugural Conference of the Lee Kuan Yew School of Public Policy at the National University of Singapore in April 2005. Topics cover a wide range of issues, including that of the economy, social security, national security, and ethnicity and identity. Since this is a compilation of papers, the editors do not necessarily always draw any particular conclusion for readers. However, it undoubtedly provides plenty of analyses, information, and viewpoints on both and India, and is expected to trigger further discussion by scholars and policy-makers concerned. Having said so, the following are some observations primarily focusing on the economic aspects of and (not necessarily on social and political aspects). Firstly, we should bear in mind that although both economies attract attention equally, each has been developing under different socio-economic conditions and political regimes. For example, their economic models and development patterns are quite different in terms of the role played by the private sector and foreign direct investment (FDI) in the economy, industrial structures, language, and education. As the editors have suggested and perhaps many agree, that is why and can play complementary roles as non-rivals in the world market. Many would also agree to the China and (sometimes referred to as 'Chindia') approach rather than China versus India approach. could learn from in terms of the governance of the private sector, laws, and regulations that ensure fair and competitive market environment, and India's various international aspects, while could learn from China's FDI policy and infrastructural investment policy for instance. From such viewpoint, it is quite fascinating to compare and highlight which development path may fit other developing regions in order to increase their economic performance. Perhaps there is no universal development model and each region could follow either or or somewhere in between, taking into account its own conditions and development stage, but a comparative study of China's and India's development path will surely provide many less developed regions with a good basis for working out their own development strategy. For example, depending on the development stage, a country with a command economy or market economy could decide which strategy would be the more effective approach to move its economy forward, or how to assess the effectiveness of government intervention in the market-based experiences of both and India. Secondly, in connection with the above, perhaps many people will try to find the answer as to which development path will be more sustainable in the long run. In this connection, the implications of environmental degradation, energy constraints, and lack of governance in the private sector as well as in the government sector to the current globalization trend could be accorded more attention. In addition, if we look at each economy per se, it is a matter of concern whether India's development of relying specifically on the services and IT industry will really be sustainable, and whether the external and investment driven economy in will also be sustainable in the long run. Or to ensure sustainability, which should come first: economy or political makeup, for example, China's restructuring of one-party dominated political regime or India's change in its complicated salad bowl society, both of which might become political and social factors affecting the further development of each economy. …

With the popularization of higher education, teaching quality has become an urgent problem to be solved. Aiming at the three difficulties faced by China's higher education at present: students' learning time after class is generally insufficient, about one-third of teachers still use the "monophonic broadcast" teaching method, and about two-thirds of teachers' teaching is not integrated enough with industrial practice, this paper puts forward an analytical model for the rational allocation of teaching resources in the direction of "textbook centered, teacher-centered and classroom-centered" and the other direction that "student-centered, student-learning-centered and learning-effect-centered", and points out that the main reason for the above three difficulties is the unreasonable allocation of teaching resources. In order to gradually realize the rational allocation of teaching resources, the author designed a gradual supporting reform path: that is, to improve the incentives for educational innovation, to allocate newly increased teaching and innovation resources in the direction of "learning effect as the center", to stabilize the traditional teacher group in the process of reform, to realize the continuous growth of the demand and output of teaching innovation through reform, and use the effective re-allocation of resources to guide and help teachers and students to migrate to the direction of "learning effect as the center". The above-mentioned supporting reforms have been implemented in Gengdan Institute, and good results have been achieved.

A computable general equilibrium model is constructed to simulate the Chinese economy under a system of free markets, and is estimated using a calibration procedure coupled with econometric estimation for key parameters. The equilibrium solution of the model indicates substantial distortions in prices and resource allocation in the 1983 Chinese economy. Labour was found to be overpaid and capital underpaid in most non-agricultural sectors. Two-fifths of the agricultural labour force would have been employed by the non-agricultural sectors had China been a market economy. The elimination of these distortions would imply a significant improvement in allocative efficiency and a redistribution of income from labour to capital, from households to the state, and from urban to rural households. China embarked upon its economic reform programme in the late 1970s. Over the period 1979-83 there were dramatic reforms in the rural agricultural sector, including the dismantling of the 'three-level' ownership of communes, the dis- tribution of land to peasant households and the relaxation of controls over labour transfer from the agricultural sector to the rural non-agricultural sector. In contrast, in the urban economy, and especially in the state industrial sector, reforms were confined to modest improvements in incentives for enterprises and workers, notably through the introduction of profit retention schemes and bonus systems. In 1983, much of the traditional mechanism of resource alloca- tion remained essentially intact. The problem of distortions in the price system and in resource allocation in centrally planned economies (CPEs) has long been a concern of economists, and there has been a considerable interest in empirical modelling of distortions in CPEs. Thornton (1971) estimated potential efficiency gains from equalizing the return to capital for different branches of Soviet industry in the early 1960s. Desai and Martin (1983) provided similar estimates using econometrically esti- mated production functions. Portes and Winter (1980) estimated excess demand in the aggregated consumption goods market for a number of pre- reform Eastern European economies using the technique of econometric dis- equilibrium modelling. Podkamine (1988) calculated free market demands and prices in the absence of rationing for consumption goods markets in Poland during 1965-86 by transplanting demand systems estimated for market econ- omies into the quantity-constrained Polish economy. Chow (1985) investigated the efficiency of labour allocation in Chinese state industry by comparing the average wage rate with the value of the marginal product of labour. All these studies, however, involve 'partial equilibrium analysis', in the sense that they are concerned only with examining the distortion in a specific market and therefore have tended to ignore distortions in the rest of the economy and a

Corporate Social Responsibility (CSR) has emerged as a critical component of corporate strategy, reflecting the growing expectation that businesses contribute meaningfully to societal development. In India, the enactment of Section 135 of the Companies Act, 2013, has made CSR a legal obligation for certain companies, ensuring systematic planning, allocation of resources, and transparent reporting of social initiatives. However, legal compliance alone does not guarantee effectiveness; corporate governance plays a pivotal role in guiding, monitoring, and evaluating CSR activities to ensure ethical implementation and measurable social impact. This article examines the interplay between corporate governance and the legal framework in enhancing CSR effectiveness in Indian companies. It analyzes the role of board oversight, independent directors, transparency mechanisms, and stakeholder engagement in promoting strategic and accountable CSR practices. The study also explores the opportunities and challenges faced by Indian companies in implementing CSR initiatives, highlighting the implications for organizational reputation, stakeholder trust, and sustainable development. The findings underscore that the integration of governance principles with legal mandates can transform CSR from a statutory obligation into a powerful tool for societal benefit and corporate value creation.

It is commonly believed that the moral norms of “everyday” or “traditional” morality apply uniformly in all business contexts. However, Joseph Heath has recently argued that this is not the case. According to Heath, the norms of everyday morality apply with respect to “administered” transactions but not “market” transactions. Market transactions are, he argues, governed by a distinct, “adversarial” morality. In this article, I argue that Heath's attempt to show that competitive contexts are governed by a distinct, adversarial morality does not succeed. I then undertake the task of showing that, contrary to what is commonly thought, competitive actions can be reconciled with the norms of traditional morality.