Free Market Economic System Research Articles

The impact of political parties on foreign direct investment within Mexico

Today we can identify a variety of political and economic systems in the world. A free market economic system is more likely to work if it is based on a democratic political system. According to the Democracy Index 2021, Mexico went from being an imperfect democracy to a hybrid regime, with the risk of becoming an authoritarian regime. The transition from a political system of imperfect democracy to a hybrid regime represents a great risk for domestic and foreign private investment. There is a latent political risk for investors in this type of countries, which scares away foreign direct investment. This research presents an analysis of the behavior of foreign direct investment in Mexico from 2000 to 2021 by state and political party. The results from a point biserial correlation test prove the existence of a dependence between the attraction of foreign investment and the political party in government. Mexico attracted lower capital inflows since the presence of MORENA, actual political party that is in both, the federal and some state governments. Descriptive statistics show that in most of the matches there is a dependence and also a correlation, however it is prudent to study the direction of this relationship and the strength. The findings are based on an analysis of three years of government of the MORENA political party; therefore, a longer period could be considered for future research.

Pengaturan Hukum Usaha Mikro Kecil dan Menengah (UMKM) berdasarkan Keadilan Ekonomi

Abstract: Indonesia is a country with a contribution of 60% coming from MSMEs. So in Indonesia itself, MSMEs are business units that play a big role in the national economy to increase the country's foreign exchange. For this reason, it is necessary to study the development of MSMEs to increase Indonesia's economic growth and the concept of protecting MSMEs based on an economic justice approach. The type of research used in this writing is normative juridical which is descriptive analysis. The data collection technique used is documentation of data. The development of MSMEs is one of the government's efforts as ruler to increase investment and create job opportunities. These efforts are contained in Law no. 11 of 2020 concerning Job Creation and Government Regulation Number 7 of 2021 concerning the Development, Protection and Strengthening of Small Cooperatives and Businesses. The concept of a fair legal protection mechanism to ensure the inequality of the free market economic system which creates a gap between large entrepreneurs and small entrepreneurs, especially MSMEs.

Hybrid Political Regime: The Fall of Foreign Direct Investment in Mexico

Today we can identify a variety of political and economic systems in the world. A free market economic system is more likely to work if it is based on a democratic political system. According to the Democracy Index 2021, Mexico went from being an imperfect democracy to a hybrid regime, with the risk of becoming an authoritarian regime. The transition from a political system of imperfect democracy to a hybrid regime represents a great risk for domestic and foreign private investment. There is a latent political risk for investors in this type of country, which scares away foreign direct investment. This research presents an analysis of the behavior of foreign direct investment in Mexico from 2000 to 2021 by state and political party. A point biserial correlation test is performed to prove the existence of a dependencie between the attraction of foreign investment and the political party in government. Lower capital inflows in Mexico is observed since the presence of MORENA, actual political party that is in both, the federal and some state governments. Descriptive statistics show that in most of the matches there is a dependence and also a correlation, however it is prudent to study the direction of this relationship and the strength. The findings are based on an analysis of three years of government of the MORENA political party; therefore, a longer period could be considered for future research.

Lifelines: a neuroqueer politics of non-arrival in an undergraduate disability studies classroom

Fantasies of control, order, efficiency, and “a relatively unilinear notion of historical progress” are enmeshed in the collective imagination of industrialized societies in the Global North. These same ideals uphold settler white supremacy, cisheteropatriarchy, neo-colonialism, anti-Black racism, genocide, ecoism, land theft, and mass incarceration. The current global predicament shows that non-normative lives and alternative ways of living, especially those deemed unproductive to the free market economic system are either disposed of as excess or rebranded and repurposed through the tactical use of exceptionalism (and necropolitics). In this paper, I address and challenge epistemic, cognitive, and material injustice along with mindless consumerism, especially the mindless consumption of knowledge received and reproduced uncritically about bodymind "excess". More specifically, I actively and deliberately complicate fixed and constant expectations and interventions targeting subjects and subjectivities formed around dominant discourses and images of Autism in the USA’s popular imagination.

Sovereignization of the Russian economy

Subject. The article addresses the strengthening of economic sovereignty as a pressing challenge of modern Russia. Objectives. The aim is to consider the possibility of strengthening Russia's economic sovereignty by reconstructing the two-system harmony of its economy, which was completely destroyed in the 20th century. Methods. I developed a conception about the order of human existence that enabled to lay a foundation for nomology, an explanatory-prognosticative science about the ordering of human being (intermediate between social philosophy and some social and humane sciences). According to the conception, which rests on works by K.R.E. Hartmann on social philosophy and by C.G. Jung on social psychology, the present and future of human being is organized (reproduced and renewed) by the reflection of all past being in the social historical memory, both conscious and subconscious. This conception allows to find some historically adjusted balance between subjective wishes and objective opportunities, when defensing Russia’s national interests. Results. The paper considers deep psychosocial foundations of economic activity, proves that the society tends to harmony of egoism and altruism, shows that the sociopsychic two-code synthetical character of any activity of the society, as applied to the economic activity of an organized and managed society, generates a natural synthetization of planned and free market economic activity. Conclusions. Economic sovereignty can be strengthened by recreating the two-system harmony of Russia’s economy. I substantiate the main economic and management measures to be taken to recreate the planned economic system in addition to the free market economic system.

SISTEM EKONOMI HUMANISTIK VERSUS EKONOMI BEBAS

The debate of the world economic system that began post-cold war until today can be said victory is in the capitalistic system that uses the free market as one of its characteristics. The collapse of Unisovyet signifies the power of capitalistic economy as the ruler of the world economy. Because almost the countries in the world apply this system. In some countries the world is actually a lot of economic system that is used, but the fact that most of the capitalistic world that dominate it. Similarly, Indonesia is also a free market capitalistic system, although Indonesia in its constitution uses Pancasila economy (humanistic economy) which loves togetherness (ukhwah) and religious ruhs.
 This research uses descriptive analysis approach, with the sources used are published books and journals.
 The author finds that the humanist economic system in terms of the above concept belongs to the commonalities of Islamic values, even this humanist economy provides for mutuality, mutual help and high spiritual dimension, and this differs greatly from the free market economy developed by the global capitalist economic system . This free market economic system tends to be the object of human being, so there is a very far gap between the community and the conglomerates, and this is the hallmark of the free market economy. But on the one hand the humanist economy does adopt some capitalist system, as well as individual ownership and also adopt the economic socialism in terms of togetherness.
 Keyword: humanistic economy, capitalistic economy and Pancasila economy

Path to Progress: Sub-Saharan Africa’s Economic Convergence—Learnings for Zambia to Overcome the Middle-Income Trap

Until after the year 2000, there has been limited economic growth in Sub-Saharan Africa. While several countries in this region have attained middle-income status and are among the fastest-growing economies globally, many others have stagnated and risk falling back to low-income level. The paper aims to examine GDP per capita economic convergence of 35 Sub-Saharan countries using a unit root model. Second, we isolate countries showing good GDP per capita convergence and reviewed each country to draw out common successful elements as lessons for Zambia. Only six out of the sampled 35 countries have slightly converged towards the United States of America. From the six countries’ in-depth review, three key success elements come out as recommendations for Zambia. These include 1) Prudent management of mineral resource endowments such as copper and diamonds. Proceeds from mineral wealth should be reserved for use during hard years and to diversify the economy. 2) Strong focus on agricultural mechanization and support to smallholder farmers to ensure complete agrarian transformation. While the share of agriculture is expected to reduce as the economy grows, such a decline should only happen once the secondary sectors are fully developed. 3) Fiscal discipline in government spending, coupled with a free-market economic system, is a key to sustaining Africa’s growth.

Impacts of the U.S.-China Trade Conflicts News on U.S. and Chinese Stock Returns

With the China’s emergence in the global economy, the United States has faced a widening trade deficit with China, which led to a very unbalanced trade relationship. Acrimonious differences concerning the “fairness” of the two sides’ industry subsidies triggered the U.S.-China trade conflict (trade war) through the action of both countries levying extreme unilateral tariffs. The trade war has affected both the values of the import and export goods produced by firms and also have caused investors to lose confidence, thus inducing economic the panic that is reflected in price fluctuations in related stock markets. That is, U.S. and China stock markets may be sensitive to media news on the trade war, as reports of policy announcements result in corrections to investors’ market expectations. Thus, this research aims to reveal whether media news’ coverage of the U.S.-China trade conflicts predicts the two countries’ daily stock returns. We find that US-China trade news could increase two-day-ahead stock return in China, whereas the same news would decrease four-day-ahead stock return in US. The opposite effects imply that U.S. investors react pessimistically to news in a free and open market economic system, while Chinese investors are more optimistic about the news in a socialist market economic system with beliefs in their more powerful government.

Justice in Intellectual Property

Intellectual property (IP) rights represent an anomaly within a free market economic system. IP rights, that is, necessarily constrain the actions of individuals within the market. In response to this anomaly, IP scholars have offered various justifications for the application of such supposed constraints within a free market economy. Chief among these justifications is the widespread appeal to utilitarianism via incentivization. Yet, it is not exactly clear that this incentivization is actually producing the benefits required for the utilitarian justification. Rather than abandoning the IP system, however, some have simply suggested an alternative justification. These scholars argue that IP rights are actual, moral rights that deserve protection as moral rights. Further, scholars argue that any distributional inequality generated by the IP system are nonetheless justified under Rawls’s theory of justice. I argue, however, that Rawls’s theory of justice does cannot “justify” a selective, IP regime.

Co-integration Analysis Between International Macroeconomic Factors and S&P Sensex Movements

The Indian stock market is fizzy and energetic; it has been going through many economic reforms since liberalization Indian economy (LPG) 1991 to till date. The Indian economy follows free market economic system, which enhance the scope of investing into stock market. Hence it prevailing significance of international macroeconomic factor on Indian Sensex movements, the present paper has investigate the long term relation and short term dynamics between international macro economic factors Capital account to Gross Domestic Production ratio (CAPGDPR), Crude oil Return (CRUDEOILR), Foreign Direct Investment return (FDIR), Foreign Institution Investment return (FIIR), Foreign Exchange Reserves growth rate (FOREXRESR) Gold return (GOLDR) Net Current account growth rate i.e (Exports divided by Imports) (NCAR) US Dollar Exchange rate to Indian Rupee returns (USDEXR) to Sensex return (SENSEXR) . The Sensex returns and International macroeconomic factors long term and short term analyzed through time series econometric tools Augmented Dickey Fuller (ADF) test check the stationarity, Johansen co integration for investigate long term relationship, Error correction Model for identify the short term dynamics. It is found that the long term co integration exists between these select international macroeconomic variables. Whereas USDEXR and FOREXRESR leads Sensex R and Sensex R corrects faster towards long run equilibrium. On the other hand CAPGDPR, CRUDEOILR, FDIR, FIIR, GOLDR, NCAR coefficients found the weak form of co movement to adjust for long run equilibrium.

Nexus Between Macro Economic Factors and S&P Sensex Movements

The Indian stock market is vibrant and dynamic in nature; it has been going through many economic reforms structural changes after liberalization Indian economy since 1991 to till date. The Indian economy follows free market economic system, which enhance the scope of investing into stock market. Thereby stock market (Sensex) performance influenced by macroeconomic fundamentals, the present paper has investigate the nexus between Sensex and macro economic factors GDP growth rate, Exchange rate, inflation rate, Gold Prices, IIP and FII. The stationarity between macro economic factors and Sensex movements measured through employing ADF stationarity test, and Engle-Granger Co-integration to test the long run relation.

A Book Review of Capitalist Manifesto: Understanding the Market Economy and Defending Liberty

The purpose of this paper is to review the book A Capitalist Manifesto: Understanding the Market Economy and Defending Liberty by Gary Wolfram. In a time of political unrest throughout the industrialized and developing world, Wolfram defends the free market economic system and educates the reader as to the various benefits of capitalism. According to the author, governments should create concise laws and regulations that allow individuals to pursue their ambitions without unnecessary interference. Wealth redistribution, a trait associated with socialism, leads to stagnant economies and minimal innovations. The roles that banks and the government play in the economy are discussed on a level beneficial to both the novice and skilled reader.

Social Upheaval, Poverty and the Latvian Demographic Crisis

Latvia has been suffering a substantial decrease in population since the early 1990s. There appears to have been little or no detailed analysis of the genesis of this decline in population. The major political event occurring at the beginning of the population decline was the rapid transitioning from socialism to capitalism. This study has revealed the causes of severe population decline to be a combination of steadily-declining birth rate, sharply rising high death rate, and mass emigration of people to wealthier European states. The cross-over of birth rate and death rate could be attributed to the tumultuous societal upheavals in the changeover from the socialistic protective-welfare system to a free-market capitalistic economic system. In particular, this traumatic event had probably affected the physical and mental health of many people to result in premature deaths from, among other things, consequential morbidity, accidents, homicides and suicides. Practicable remedies to arrest the continuing trend of precipitous decline in the population might include a) repairing the failures of the current modality of national health care, b) creating higher paying jobs in Latvia to entice prospective young emigrants to stay in Latvia, and c) repatriating of recent Latvian émigrés.

Comparative Study and Economic Analysis of the Competition Law in the Legal System of United Kingdom and Iran

Competition law is referred to as one of the requirements and factors affecting the success of free market economic system. It is assumed that a fair competition between those active in the field of production and distribution leads to economic efficiency and welfare increase. Although this new branch of law has raised interesting and far-reaching interdisciplinary topics among jurists and economists for a long time, the Iranian legal system has recently taken the first steps in this field. Therefore, it is essential to prepare arrangements and formulate the fundamental principles in this area.

Post-Crisis Political Economy: Neoliberalism or Islamic Alternative?

The global financial crisis that unfolded since the end of 2006 has shaken the very foundation of the Western free-market economic system. Its fundamental regulatory principle of the separation of state and market is now seriously discredited. The objective of this article is to argue that the economic principles of Islam can provide a better alternative to the free-market system. Firstly, an Islamic economic system is highly integrative where the purpose and interest of the state and the individual citizen overlap and are complimentary to each other. So, market and state are rather inseperable in Islamic political economy. Secondly, the free-market system is fundamentally oriented to the philosophy of unlimited consumption, that is – greatest number produces greatest happiness, which demands production and appropriation of resources beyond needs. But the Islamic economic philosophy puts restrictions on unnecessary consumption, thereby capping competition over resources. These two essential principles in Islamic political economy are highly interdependent on state and individual agency of a human being. Therefore, once the economic needs and purpose of the state and the individual citizen are properly enmeshed, it produces a balanced market system. Islamic political economy has moral regimes and instrumental structure for economic behavior that reinforce each other.

Nazi Economic Thought and Rhetoric During the Weimar Republic: Capitalism and its Discontents

At the heart of Nazism was a radical economic vision and rhetoric that provided the Nazis with an authenticity and legitimacy in their struggle to succeed the free-market capitalist economic system – this was crucial to their successful mass mobilisation and to becoming an acceptable party of government. While many of these views had deep historical and ideological roots in German society, they only became mainstream during the world economic depression. By then the Nazis' uncompromising political-economic demand that Germany could only prosper when overthrowing the Versailles peace order, looking after its national interests and doing things the German way had transformed from fringe view to mainstream consensus. At a time when capitalism's future and Germany's place in it looked bleak, many regarded the Nazis' economic vision entailing state control, autarky coupled with Grossraumwirtschaft and withdrawal from international cooperation in favour of nationalist policies as the most promising economic programme. Meanwhile Nazi rhetoric had become an integral part of a powerful anti-capitalist Zeitgeist, an ‘anti-system’ rallying cry that questioned the core principles of capitalism. Its proponents condemned its selfishness, materialism and unfairness, and instead demanded that the common good had to be protected from individual greed.

Scaling-up the use of generic antiretrovirals in resource-limited countries: generic drugs for health.

The number of people living with HIV (PLHIV) continues to increase around the world because of the increasing number on antiretroviral therapy (ART) and their associated increase of life expectancy, in addition to the number of people newly infected with HIV each year. Unless a 'cure' can be found for HIV infection, PLHIV can anticipate the need to take antiretroviral drugs (ARVs) for the rest of their lives. Because ARVs are now being used for HIV prevention, as well as for therapeutic purposes, the need for effective, affordable ARVs with few adverse effects will continue to rise. It is important to note that the dramatic growth in treatment coverage of PLHIV seen during the past decade has been primarily due to the increased use of generic ARVs. Thus, there will be a need to scale-up the research and development, production, distribution and access to generic ARVs and ART regimens. However, these processes must occur within national and international regulated free-market economic systems and must deal with increasingly multifaceted patent issues affecting the price while ensuring the quality of the ARVs. National and international regulatory mechanisms will have to evolve, which will affect broader national and international economic and trade issues. Because of the complexity of these issues, the Editors of this Supplement conceived of asking experts in their fields to describe the various steps from relevant research and development, to production of generic ARVs, their delivery to countries and subsequently to PLHIV in low- and middle-income countries. A main objective was to highlight how these steps are interrelated, how the production and delivery of these drugs to PLHIV in resource-limited countries can be made more effective and efficient, and what the lessons are for the production and delivery of a broader set of drugs to people in low- and middle-income countries.

Malaysia: 30 Years of Islamic Banking Experience (1983-2012)

Malaysia proved to be at the forefront of Islamic banking and finance by adopting a dual banking system where the conventional and Islamic banking systems co-exist. The Islamic banking has been in operation since 1983 and offers a variety of Islamic financial instruments. In such a multi-ethnic and multi-religious country, customers get the financial products and services they like. In the early 1980s, the government encouraged all Malaysians to be involved in the fast-track development process with a vision to make Malaysia a fully industrialized country by the year 2020. Actually, the development of Malaysias dual banking system is tied up with its social and economic policy and that is why it was fully supported by the countrys top leadership in addition to the Central Bank, the Parliament, and the public in general. Islamic banks can motivate Muslims to increase savings and reduce hoarding. This kind of motivation was expected to enhance their participation in the development process contributing to savings mobilization and capital accumulation in order to improve their standard of living and bring them up to par with their countrymen of Chinese origin. Among the countries with a free market economic system, Malaysia has emerged as the first country to implement a dual banking and financial system. The Malaysian model has been recognized by many Islamic countries as the model to emulate.

Economic Relations between Italy and Albania 1993 – 2000

The history of economic relations between Italy and Albania is a typical example of asymmetric relationship between two countries with geographic proximity but with very different dimensions. The importance of this bond is essential for Albania, as Italy is our greatest economic and trade partner, but also from the Italian perspective these relationships have a greater weight than we might expect given the size of the Albanian economy, due to geographical proximity and preferential relations between the two countries. The relations with Albania are included in the broader context of the Italian policy in the entire Balkan region as these countries transition towards free market economic system is of great importance for the European integration processes. Since 2000, the economic cooperation has grown, but its features (trade balance deficit, restricted investment areas, à façon industries, etc.) still persist. This paper intends to highlight the strengths and drawbacks of Italian – Albanian economic relations in its early stages from 1990 to 2000.

The Great Depression and the corporatist shift of Italian economists

The profound crisis which occurred in economic theory in the period between the two wars forced the neoclassical economists to look in different directions. One of them was the corporate economic theory – understood as a theory which asserted the fundamental role of the state in economic affairs. The protagonists of this attempt to integrate in Italy corporatism into economic science were L. Amoroso, G. La Volpe, E. Fossati, G. Del Vecchio, M. Fanno, G. Papi, and G. Masci, and therefore leading economists of the Italian school who adhered to both the Marshallian and Paretian traditions. The discussion in Italy was concerned more with economic policy problems than rigorous theoretical analysis. What interested the Italian economists was not the development of new theories, but the introduction of new economic institutions able to give concrete responses to the dramatic economic problems of the time. The principal result of economic reflection on corporatism was recognition of the state's central economic role also within a free-market economic system.