Economic Concepts Research Articles

Articulating the ‘How’ of Social Return on Investment: Foregrounding the Plural and Pluralizing Character of Its ‘Moments of Judgment’

ABSTRACTSocial accounting practices attribute value to an organization's activities beyond traditional economic conceptions of success. In assessing the merit of such practices, we argue that it is helpful to extend our analytical focus beyond questions of what is evaluated and who evaluates to how valuations are performed. Social accounting literature has already explored a crucial aspect of the “how question,” emphasizing the need to widen stakeholder input and engage in agonistic democratic deliberation beyond applying technical expertise. We extend these insights by drawing attention to an important dimension of the how question that remains underexplored, namely, where such deliberation can or should be applied and explaining why this matters. In doing so, we disclose the complexity and messiness of social accounting processes, as well as their normative and political significance. We deploy political discourse theory to highlight the virtues of focusing on where value is constructed along the social accounting chain, illustrating our contribution with examples drawn from our experience conducting a Social Return on Investment (SROI) for a not‐for‐profit organization. We present and unpack key decision‐junctures in the SROI process, demonstrating the plural and pluralizing character of these “moments of judgment” by showing how contestability and normativity enter the valuation process, aspects that are often obfuscated by an over‐reliance on, and the rhetoric of, the technical aspects of quantification and monetization. By foregrounding the contingency and subjectivity embedded in valuation practices, we argue there is a need to navigate agonistically, deliberatively, and pragmatically their plural and complex character.

Implementation of a performance management system for environmental sustainability in an industrial organization

Abstract The paper explores the implementation of process performance management systems in the automotive industry, specifically focusing on improving the assembly line of an organization within this sector thanks to the introduction of cobots in the line of manufacturing electronic modules used in car seat control systems. With an emphasis on environmental sustainability and circular economy (CE) concepts, the study investigates the positive effects of optimizing mechanical and electromechanical systems within the assembly line. Leveraging concepts such as KAIZEN and Gemba Kaizen, along with the guiding principles of Just-In-Time (JIT), Continuous Improvement and Automation with a Human Touch (JIDOKA), the research aims to elucidate the potential benefits of such enhancements. Key performance indicators (KPIs) including Overall Equipment Effectiveness (OEE), First Pass Yield (FPY), and scrap rates were considered. Rejects, primarily stemming from human error in part handling, emerged as the major challenge facing this assembly line. To address this issue, collaborative robots were introduced to automate part handling, replacing manual processes with precise and reliable automation. Before the implementation, the cycle time stood at 13.6 units, which was reduced to 12.5 units post-implementation, resulting in a significant increase in productivity equating to 3000 more parts produced per week. OEE increasing from 80% to 87.74%, FPY rising from 96.42% to 98.48%, and the scrap rate decreasing from 0.06% to 0.02%. By addressing inefficiencies at the assembly line level, organizations can achieve significant improvements in performance metrics while concurrently contributing to a greener and more sustainable future.

8Rs for circular water and sanitation systems: Leveraging circular economy thinking for safe, resilient and inclusive services

To achieve their normative health, environmental and social objectives, water and sanitation services must be safely managed, inclusive and climate resilient. Meeting these imperatives presents a need and opportunity for innovative thinking about water and sanitation service systems. Circular economy concepts are being applied across a multitude of product and service sectors with the aim to facilitate regenerative flows of resources. Given the dependence on water resources, associated climate risks, and the generation of reusable waste products in water and sanitation service delivery, circular economy concepts can be usefully leveraged to drive sustainability outcomes. This article contributes a heuristic in the form of a conceptual framework for applying circular economy concepts in the design and delivery of water and sanitation services in diverse Global South contexts. The framework seeks to drive multiple outcomes relevant to water and sanitation initiatives: safely managed services, social inclusion, and climate resilience. Co-developed by an international research team applying a theoretical multiplicity approach and collaborative sensemaking, the heuristic takes the form of a suite of eight adapted circular economy ‘R strategies’ for water and sanitation. The R strategies were selected and articulated to reflect theory-based principles of circular economy, climate resilience and inclusion. They are intended to prompt thinking and action in pursuit of safely managed, climate resilient, inclusive water and sanitation services that align with the broader sustainability directions that circular economy narratives aspire to. The heuristic offers a conceptually rigorous, practical tool that can support collaborative, deliberative processes to realise the potential benefits of circularity in water and sanitation service systems.

Green Economy from a Regional Perspective – a Polish Case Study

The article presents the elaboration and specification of the green economy concept, where resource scarcity, global climate change and environmental degradation are paving a new path towards sustainable development. The article addresses the issue of implementing the principles of green economy at the regional level. The implementation of a green economy at a regional level provides an excellent space for scientific deliberations. The aim of the research is to identify and assess the level of regional disparities in green economy development across Polish regions using a synthetic measure. The basis for the analysis was a set of substantively and statistically analyzed diagnostic variables from the years 2012-2022. The synthetic indicator of the green economy was calculated for every Polish region (NUTS 2) and the regions were ranked based on their score from highest to lowest. As a result of the analysis, the regional polarization and the ordering of regions in Poland in terms of the synthetic metric - green economy development - were discussed. Keywords: green economy, green growth, sustainable development, taxonomic methods.

Теоретическая экономия: продолжаем развивать концепцию

This section provides an overview of the materials of the 8th (116th) issue of the journal. According to the editor, the publications of this issue represent a continuation of the development of our concept of theoretical economy. That is, they continue the work that we have been doing on the pages of our publication for one and a half decades. The section shows what this continuation consists of using each published work as an example. It is noted that it manifests itself, although to varying degrees, in the speeches of both well-known and new authors. The main attention in the content of the proposed issue is traditionally given to current problems of theoretical economy, theoretical and economic aspects of the study of new industrialization, modern problems of the world economy, and the work of young researchers.

Path to Green Economy: Analyzing Innovation, Investment and Taxation in Kazakhstan

The concept of a green economy has gained significant attention, aiming to achieve sustainable development without environmental harm. This study examines Kazakhstan's transition to a green economy, focusing on indicators such as green innovation, investment in environmental protection, and green taxes. Despite Kazakhstan's commitment to a carbon-neutral economy by 2060, significant challenges were identified. The methodology involved three steps: descriptive analysis of green economy indicators for 2016–2022, correlation analysis to identify significant relationships, and trend forecasting for 2023–2025 using a linear regression model. This approach provided a thorough examination of the green economy's current state and future projections. Over the study period, the number of organizations engaged in environmental innovation and their activity levels have decreased. Investments in environmental protection showed initial growth, but declined in recent years. Conversely, there has been an increase in environmental taxes, reflecting the government’s focus on tax instruments to promote sustainable development. Correlation analysis revealed complex interdependencies, indicating that higher investments and taxes are often associated with lower levels of green innovation activity. Projections for 2023-2025 suggest a further decline in green innovation indicators unless significant policy measures are taken. The study underscores the need for a balanced approach that encourages green innovation while maintaining robust investment and tax bases.

Circular Economy in Architecture: Reducing Waste and Promoting Reuse in Construction

This paper explores the concept of circular economy within the Architecture, Engineering, and Construction (AEC) industries. It examines the evolution of the circular economy framework from the traditional 4R model to more expansive 9R and 10R iterations. The study investigates the challenges and opportunities in implementing circular economy principles in Nigeria's AEC sector, considering its significant contribution to the country's GDP and potential for sustainable economic development. By analysing the relationship between construction activities and economic growth, this research aims to provide insights into the transformative potential of circular economy practices in AEC industry and its broader implications for national development.

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The prospects of the food and agro-food sector in the structure of the economic management system are related to global and national trends in the development of agriculture, food industry and effective management of these industries. The growing demand for environmentally friendly products forces companies and farmers to implement sustainable production methods. This includes reducing greenhouse gas emissions, using water and resources efficiently, and moving to organic agriculture. Environmental standards are becoming important in ensuring the competitiveness of products on the domestic and international markets. Automation and digital technologies are rapidly penetrating the agri-food sector. Precision farming technologies, artificial intelligence, drones and satellite systems allow for increased production efficiency, improved resource management and reduced costs.In addition, digital platforms help to optimize supply chains and improve interaction between market participants. There is an increasing focus on food safety due to increased regulation by governments and international organizations. This requires agri-food businesses to invest in quality control systems and meet international standards such as HACCP. The increase in the export of food and agricultural products is an important factor in the economic development of many countries. This requires diversification of sales markets, improvement of logistics infrastructure and adaptation to the requirements of foreign markets.In addition, supporting local producers through government subsidy programs can strengthen the domestic market. The concept of a closed-cycle economy involves minimizing waste and maximizing the use of resources at each stage of production. In the food sector, this may include using waste as raw material for fertilizer or energy production. Small and medium-sized businesses in the agri-food sector can play an important role in ensuring food security and sustainable development of rural areas. Government support programs, access to finance and educational programs can help strengthen this sector. Climate change directly affects the food sector, causing unpredictable weather conditions that can reduce harvests and increase the risk of production losses. Adapting to these changes requires the introduction of new technologies, genetically modified crops, and risk management programs. At the global level, more and more attention is being paid to food security - ensuring a stable food supply. This includes the development of the agro-industrial complex to reduce dependence on imports, increase food reserves, and develop infrastructure for storage and transportation

Tax Challenges Arising from Digitalization: Evaluating the Taxation Models Proposed by the European Commission and the OECD

The world has entered a period of deep transition with rapid and phenomenal development of innovations. The rise of the digital economy has dramatically changed the global business environment, creating new challenges for the tax system. Newspapers and magazines are being replaced by the Internet, and trade in material goods – by digital services. The digital economy eliminates the barriers of time, space and distance. The server where the transaction is processed, the location from which the goods or services are supplied and the place of supply of such goods or services are in different jurisdictions, therefore, the question “Where should the transaction be taxed?” is raised. Meanwhile, the digital economy opens up unprecedented opportunities to avoid taxes with the international tax rules which are still “stuck” in 20th-century business concepts, because the companies operating in the digital space do not need factories, stores or other permanent residences to develop their activities. This article aims to evaluate the efforts of the European Union and international standard-setting entities to find a solution for fair taxation of the digital economy. The first part of the article delves into the concept of the digital economy and its essential features with a special emphasis on the role of the digital service user which is unique and more complex than the role usually played by the customer. This part also analyses the differences between digital and traditional business. The second part of the study emphasizes the reasons that will lead to the necessity of taxation of the digital economy, discusses the digital services tax applied in certain countries of the European Union and highlights the weakness of the concept of digital establishment in double taxation agreements concluded by the countries. The final part explores the proposals submitted by the European Commission regarding the introduction of a common consolidated corporate tax base and the inclusion of the concept of virtual permanent establishment in the tax system in the context of the digital economy taxation model proposed by international organizations.

К вопросу о теоретических основах государственного регулирования экономики

The article considers some theoretical aspects of the fundamentals of the development of approaches to the implementation of state regulation within the framework of various economic directions and concepts. The main features inherent in various approaches to the implementation of state regulation are highlighted. The author's vision of the economic and theoretical component of the term "State regulation" has been formed. Using the block model, the mechanism of interaction of the components of state regulation of the economy is presented. An economic and practical description of the functioning of the elements of such a mechanism and the consequences of its impact on the economy of the country and the market has been carried out. Based on the conducted research, a promising industry has been identified for practical testing of the research results.

PEMANFAATAN KEARIFAN LOKAL DALAM PEMBELAJARAN EKONOMI UNTUK MENINGKATKAN RELEVANSI KURIKULUM

This study aims to examine the utilization of local wisdom in economic education in Nias and its impact on curriculum relevance. The local wisdom in Nias, which includes traditional economic practices, barter systems, and natural resource management, has significant potential to enhance students' understanding of economic concepts. Using a qualitative approach, this research analyzes various literature sources and case studies to identify how local wisdom can be integrated into the educational curriculum. The findings indicate that the utilization of local wisdom not only increases student interest and engagement but also strengthens cultural identity and character development. Furthermore, the study identifies implementation challenges that need to be addressed to achieve these goals. It is hoped that this research can contribute to the development of a more relevant and contextual curriculum for students in Nias.

Sustainable Exploitation of Wine Lees as Yeast Extract Supplement for Application in Food Industry and Its Effect on the Growth and Fermentative Ability of Lactiplantibacillus plantarum and Saccharomyces cerevisiae

Wine lees, the residue left behind after racking or bottling of wine, are predominantly composed of dead yeast cells, ethanol, phenolic compounds, and tartrates. Yeast extract (i.e., commercial yeast extract), a highly nutritious powder derived from commercially cultivated yeast biomass, is commonly used in nutrient media as a nitrogen source. In the context of by-product valorization, wine lees could potentially be used to produce a substitute for commercial yeast extract (CYE). In our study we investigated the growth and fermentative ability of two major winemaking microorganisms, Lactiplantibacillus plantarum and Saccharomyces cerevisiae, in culture media containing a wine lees yeast extract (WLYE) and a CYE. The effects of yeast extract type, concentration, and initial cell concentration (y0) on key kinetic parameters—maximum specific growth rate (μmax), lag phase duration (λ), and maximum cell concentration (ymax)—were evaluated. For L. plantarum, the results showed that using a WLYE led to similar kinetic parameters to those obtained with a CYE, with λ being unaffected by y0 in samples containing a WLYE. For S. cerevisiae, simultaneous addition of both yeast extracts led to increased μmax values (up to 0.136 h−1) compared to individually added yeast extracts, although this negatively affected λ and ymax. Current research on wine lees is mainly focused on using them as a substrate to produce valuable metabolites through fermentation, overlooking the potential industrial applications of the nutrient-rich autolysate. The findings of this study appear promising for the holistic valorization of wine lees, contributing towards the concepts of sustainability and circular economy.

Population density as the attractor of business to the place.

Firm location studies traditionally assume that this is business that attracts other business to a given location. They focus on knowledge transfers between the most productive and innovative firms and analyse agglomeration economies arising from matching, learning and sharing mechanisms. We argue that the population density also attracts firms to the place. Therefore, we extend this stream of research by using the concept of economies of density to discuss the effects of the attraction of firms by population. Our study explores the existence of the hierarchical causal mechanism that occurs when 2nd line firms understood as non-innovative, less productive retail and service businesses together with human settlement create an environment that attracts 1st line firms - the most innovative and productive businesses. We show that population density and business agglomeration jointly affect the location of firms in different sectors and should be considered as complementary rather than substitutable attraction factors.

Considering the Cost-Effectiveness of Accredited Continuing Medical Education: A Landscape Analysis of Economic Concepts in Continuing Medical Education Research.

In health care, cost-effectiveness analysis evaluates changes in health outcomes as a function of costs. The cost-effectiveness of continuing professional development for health care providers has not been historically well characterized despite substantial investment. This literature review identified publications considering the costs and cost-effectiveness of accredited continuing medical education activities. Searches were conducted for English language records in PubMed and the gray literature using a 10-year lookback period from March 10, 2023. Search terms included concepts related to continuing medical education, cost, effect, and utilization. One reviewer conducted title/abstract screening, full-text review, and data extraction, with direction and adjudication of search and screening concepts provided by the lead advisor. Publications were categorized as related to costs of an educational intervention (Concept 1) and/or the impact of education on health care costs (Concept 2). Results were summarized using descriptive statistics. A total of 668 database records were screened, 125 (19%) underwent full-text review, and 25 of 125 (20%) were accepted; 7 of 351 (2%) gray literature sources were accepted for a total of 32 included records. The most common reason for rejection was not being an accredited activity. Of the 32 records, 27 (84%) were related to Concept 1 only, 3 (9%) to Concept 2 only, and 2 (6%) to both Concepts 1 and 2. Approximately half (n = 19, 59%) mentioned costs without supporting data. These findings show that considerations of cost and cost-effectiveness are rare in the accredited continuing medical education literature, which may limit how the value of continuing medical education is characterized.

The ecosystem concept in economics and management: A systematic review (part 1)

The ecosystem concept in economics and management: A systematic review (part 1)

Narratives embedded in Faccini's novel to comment on economic concepts and phenomena

The aim of this paper is to analyze some of the interlocking narratives present in chapters four and twelve of Leonardo Faccini's The Living Face of Money, checking the link between the use of the narrative technique and the presentation of the history of economic thought. The following scholars were used as the main theoretical guidelines: Todorov (2006), to introduce the concept of embedded narrative; Prado (2011), to discuss the repercussions of the narrative embedding technique in the contemporary world; and Oliveira and Gennari (2009), to explain the contexts of enunciation of the various economic discourses addressed by Faccini's work, among others. It looks at how the technique of embedded narratives from the literary tradition contributes to the presentation of economic ideas and concepts. Based on the analysis of these narrative fittings, the political-ideological project in Faccini's novel is evaluated.

Aroma enhancement of dealcoholized wines using enzyme treatment and glycosidic aroma precursors

This research has studied the treatment of dealcoholized wines with glycosidic enzymatic preparation and glycosidic aroma precursors extract isolated from aromatic grapes in order to enhance the aroma profile of non-alcoholic white wines. The effect of the addition of the precursors extract and the enzymatic treatment was studied after 15 and 30 d of storage, using dealcoholized wine as control. The analysis of free and bound volatile compounds was carried out by gas chromatography-mass spectrometry (GC-MS) after isolation using solid-phase extraction (SPE). The application of multivariate statistical analysis confirmed differences in the free and bound volatile profile of the studied samples when applicated the different treatments after 15 d and 30 d of storage. The combination of both treatments increased in a significant way the aromatic profile of Verdejo dealcoholized wine, showing high concentrations of terpenic and bencenic compounds due to the addition of precursors extract from an aromatic grape variety. This brings to light that this technique could be considered as a possible way of enhancing the aroma profile of dealcoholized wines in La Mancha region, as well as a way of using by-products from the wine industry, thus contributing to the concept of circular economy.

Actualization of Axiolemmas in Political Discourse of Russia and China (New Year Addresses of V. V. Putin and Xi Jinping)

This article presents the findings of a comparative study on the values articulated in the New Year addresses of the political leaders of Russia and China. The research addresses the challenge of identifying the determinants that influence their choices within epideictic texts. An analysis of the New Year addresses delivered by Vladimir Putin and Xi Jinping from 2019 to 2023, approached from a linguo-axiological perspective, has highlighted the concepts of PEOPLE and GOVERNMENT, indicating the significance of themes related to the populace and representatives of authority in the political discourses of both countries. It is demonstrated that these congratulatory speeches actualize vital, political, national-cultural, moral-ethical, economic, and ecological concepts. Among these, the Russian President’s addresses place the greatest emphasis on the representation of moral-ethical concepts, while the Chinese leader’s addresses provide a more detailed presentation of political concepts. It has been revealed that in the speeches of the Chinese political leader, the concept of GOVERNMENT is verbalized through references to the country’s political party and through the expression of personal sentiments using the first-person singular pronoun. The results of this study have identified both objective and subjective factors that determine the selection of value dominants reflected in the New Year addresses of the political leaders of Russia and China.

Two birds with one stone: Multifunctional controlled‐release formulations of pesticides

AbstractControlled release and nanotechnology techniques hold promising potential for propelling the pesticide industry toward the goals of green revolution. This study introduces the concept of atom economy into the multifunctionality of controlled‐release formulations (CRFs) of pesticides from both economic and sustainable perspectives. In addition to their core function of controlling the release of active ingredient, carriers also provide additional benefits, including enhanced foliar adhesion and pesticide translocation, nutritional function, synergistic bioactivity, safety for nontarget organisms, crop stress alleviation, reduced soil leaching, soil remediation, and fluorescence visualization. These additional functions are highlighted and taken seriously. Through ingenious excogitation, the multifunctional CRFs of pesticides can achieve multiple objectives, enhancing input efficiency while minimizing environmental impacts. We tentatively blazed a trail by reviewing the recent advances in multifunctional CRFs of pesticides from the perspective of green chemistry. Additionally, potential development and implementation barriers of CRFs were discussed, emphasizing the necessity for robust field trials and comprehensive systems‐level efficacy/biosafety evaluations to substantially boost the technical readiness and performance of multifunctional CRFs of pesticides. Our goal is to expand the multifunctional concept for pesticide formulations, thereby accelerating the development of global sustainable agrochemical products.

The Integral Management of the Wastewater Treatment Sector in Mexico Using a Circular Economy Approach

Wastewater treatment must be proactive and sustainable to facilitate an increase in the circularity of water. Therefore, the current approach, based on a linear cycle, must be replaced with a circular economy concept that implements strategies to address the different byproducts in the wastewater treatment sector. In recent years, Nuevo León, Mexico, has encountered high water stress levels, with its main water bodies presenting their lowest levels ever recorded. This study was focused on the wastewater treatment plant Monterrey, which treats the largest volume at the state level. Throughout its operation process, it generates different potential byproducts that are yet to be harnessed to fully. This study developed three proposals using a circular economy approach: the treatment of water for the industrial sector, the use of residual sludge as an organic fertilizer, and the cogeneration of energy from biogas. These proposals can potentially generate benefits regarding the three pillars of sustainability, yielding a closed cycle in the wastewater treatment sector at the national level.