Concept Of Wealth Research Articles

Measuring Income and Wealth at the Top Using Administrative and Survey Data

Administrative tax data indicate that U.S. top income and wealth shares are substantial and increasing rapidly (Piketty and Saez 2003, Saez and Zucman 2014). A key reason for using administrative data to measure top shares is to overcome the under-representation of families at the very top that plagues most household surveys. However, using tax records alone restricts the unit of analysis for measuring economic resources, limits the concepts of income and wealth being measured, and imposes a rigid correlation between income and wealth. The Survey of Consumer Finances (SCF) solves the under-representation problem by combining administrative and survey data (Bricker et al, 2014). Administrative records are used to select the SCF sample and verify that high-end families are appropriately represented, and the survey is designed to measure comprehensive concepts of income and wealth at the family level. The SCF shows high and rising top income and wealth shares, as in the administrative tax data. However, unadjusted, the levels and growth based on administrative tax data alone appear to be substantially larger. By constraining the SCF to be conceptually comparable, we reconcile the differences, and show the extent to which restrictions and rigidities needed to estimate top income and wealth shares in the administrative data bias up levels and growth rates.

Concept of Wealth and Poverty in the Light of Islamic Tradition

Concept of Wealth and Poverty in the Light of Islamic Tradition

A Closer Look at Socioemotional Wealth: Its Flows, Stocks, and Prospects for Moving Forward

We supplement the recent work by Miller and Le Breton–Miller by evaluating more closely two related theoretical aspects of the socioemotional wealth concept: (1) the stocks and flows of noneconomic benefits and how they influence family firm behavior; and (2) the use of prospect theory as an umbrella concept. We, thus, contribute to family business research by delineating a number of important research questions related to these two theoretical aspects that need to be addressed if theories of family firm behavior and performance are to move forward.

Measuring Income and Wealth at the Top Using Administrative and Survey Data

Administrative tax data indicate that U.S. top income and wealth shares are substantial and increasing rapidly (Piketty and Saez 2003, Saez and Zucman 2014). A key reason for using administrative data to measure top shares is to overcome the under-representation of families at the very top that plagues most household surveys. However, using tax records alone restricts the unit of analysis for measuring economic resources, limits the concepts of income and wealth being measured, and imposes a rigid correlation between income and wealth. The Survey of Consumer Finances (SCF) solves the under-representation problem by combining administrative and survey data (Bricker et al, 2014). Administrative records are used to select the SCF sample and verify that high-end families are appropriately represented, and the survey is designed to measure comprehensive concepts of income and wealth at the family level. The SCF shows high and rising top income and wealth shares, as in the ad ministrative tax data. However, unadjusted, the levels and growth based on administrative tax data alone appear to be substantially larger. By constraining the SCF to be conceptually comparable, we reconcile the differences, and show the extent to which restrictions and rigidities needed to estimate top income and wealth shares in the administrative data bias up levels and growth rates.

Performance Evaluation in Family Firms: Direct and Indirect Effects of Family Involvement

Drawing on the concept of socioemotional wealth, this study analyzes both theoretically and empirically the differences between family firms and non-family firms with regard to performance evaluati...

The Final Battle:Creation of Wealth vs Transfer of Wealth

Tulsi Tawari has written this book specifically for entrepreneurs and researchers. It is the result of his search for answers to questions like conditions in poor countries and a clear cut road map for the future. He attempts to discuss the concept of wealth and how its transfer (ToW) differs from the creation of wealth (CoW). He regrets that if leaders in government, business and economics had not strayed in their mission to create wealth, the world would have been a better place. In this context, he offers strategic suggestions which can be applied both individually and collectively.

Measuring the Wealth of Nations

In this article, I review—and to an extent further develop—a normative theory that offers a unified language for both sustainability and policy analyses. The theory shows that by economic growth we should mean growth in wealth, which is the social worth of an economy’s entire stock of capital assets, not growth in GDP or improvements in the many ad hoc indicators of human development that have been proposed in recent years. Concurrently, the theory shows that by poverty we should mean a low level of wealth, not income, and that the distribution of well-being ought to be judged in terms of the distribution of wealth, not income or education or the many indicators that are currently in use. I show that the concept of wealth invites us to extend the notion of assets and the idea of investment well beyond conventional usage. This perspective has radical implications for the way that national accounts are prepared and interpreted. I then sketch a recent publication that has put the theory to work by studying the composition of wealth accumulation in contemporary India.

Deconstructing Socioemotional Wealth

There have appeared of late numerous important articles elaborating on and researching the concept of socioemotional wealth, within the last year in Entrepreneurship Theory and Practice, others published in journals ranging from Administrative Science Quarterly to Family Business Review. Given the increasing popularity and generality of the concept, it is perhaps worth revisiting it to assess its potential for enhancing our understanding of family firms. We shall examine the socioemotional wealth concept and the challenges it poses for researchers, and propose some conceptual and methodological notions for increasing its utility.

Notas sobre fetichismo, historia e incertidumbre: más allá de la crítica a la austeridad

We are in the middle of huge wave of uprisings, of massive, multitudinous refusals to accept the contemporary conditions. The article asks what it means to say NO in a society in which the poor and miserable are required to subsidise the financial system for the sake of sustaining the illusion of abstract wealth. This subsidy is necessary in existing society, to secure its wealth and prevent its implosion. Capitalist society cannot be fought in a direct and immediate manner - what really does it mean to struggle against money, resist the movement of coins, combat the movement of interest rates, fight price movements, and resist poverty in a mode of social reproduction that entails the pauper in its concept of wealth? The refusal to sanction things as they are is entirely negative of the existing conditions of social reproduction. It demands that their further progress comes to a standstill.

Koncepcja i pomiar zasobności gospodarstw domowych

This paper presents the objectives and basic theoretical assumptions of household wealth. The concept of wealth, in addition to income and consumption, is a third category of financial analysis at the micro level. This category is less common than the other two, but is a necessary follow-up analysis of consumer behavior and predict their response to changes in the financial (i.e. shocks). The main thesis of the article was based on the work of the OECD Expert Group, which the author was a member of. In addition to presenting definitions, classifications and the principles of wealth measuring, the text embedded the test category in the current research on economic development and material welfare.

The Nature of Economic Development and the Economic Development of Nature

This paper reviews and in part extends an emerging literature that integrates development and environmental thinking. It focuses on a small part of the literature: economic evaluation, and goes on to develop the notion of sustainable development and construct a unified language for sustainability and policy analyses. It is shown that by economic growth we should mean growth in wealth - which is the social worth of an economy's entire set of capital assets - not growth in gross domestic product nor the many ad hoc indicators of human development that have been proposed in recent years. The concept of wealth invites us to extend the notion of capital assets and the idea of investment well beyond conventional usage. The author also shows that by sustainable development we should mean development in which wealth (per head) adjusted for its distribution does not decline. This has radical implications for the way national accounts are prepared and interpreted. The author then provides an account of a recent publication that has put the theory to work by studying the composition of wealth accumulation in contemporary India. The study reveals that the entire architecture of contemporary development thinking is stacked against nature. These are still early days in the measurement of the wealth of nations, but both theory and the few empirical studies we now have at our disposal should substantially alter the way we interpret the progress and regress of nations.

The Nature of Economic Development and the Economic Development of Nature

Contemporary models of growth and development are founded on a category error: they ignore nature as a form of productive capital. Using as backdrop two recent books on the Indian economy that are representative of the prevailing orthodoxy, I review and in part extend an emerging literature that integrates development and environmental thinking. Contributors to the literature have reworked the economics of the household, communities, and other non-market institutions, reframed national accounting, reconstructed the theory of macro-economic development and public and trade policy, and revised the theory of collective action. In this paper I focus on a small part of the literature: economic evaluation. I develop the notion of sustainable development and construct a unified language for sustainability and policy analyses. I show that by economic growth we should mean growth in wealth -- which is the social worth of an economy's entire set of capital assets -- not growth in GDP nor the many ad hoc indicators of human development that have been proposed in recent years. The concept of wealth invites us to extend the notion of capital assets and the idea of investment well beyond conventional usage. I also show that by sustainable development we should mean development in which wealth (per head) adjusted for its distribution does not decline. This has radical implications for the way national accounts are prepared and interpreted. I then provide an account of a recent publication that has put the theory to work by studying the composition of wealth accumulation in contemporary India. Although much attention was given by the study's authors to the measurement of natural capital, due to a paucity of data the value of natural capital is acknowledged by them to be under-estimated, in all probability by a large margin. The study reveals that the entire architecture of contemporary development thinking is stacked against nature. These are still early days in the measurement of the wealth of nations, but both theory and the few empirical studies we now have at our disposal should substantially alter the way we interpret the progress and regress of nations.

A Multipurpose Cadastral Framework for Developing Countries‐Concepts

AbstractLand acquisition and ownership for wealth creation has eluded most individuals in various regions of the Earth especially regions described as developing or less developed countries. Most European countries have developed multi‐purpose cadastre (MPC) to streamline property ownership. Heterogeneity of space ownership is complex when it has to deal with space ownership above and below the surface. The concept of wealth can be measured as one's interest in land. This research seeks to introduce a conceptual framework using tools readily available and can be adopted by most countries. Reviews of cadastre being practised in some countries are presented. Concepts within the Land Administration Domain Model (LADM) framework are also presented within the concepts of some standards such as CityGML. The concept for above and below volume parcels is presented. Land package by governments in African countries will help alleviate poverty and create wealth in many African countries. A graphical interface is developed for this concept. The need for a conceptual schema for land volume parcels and marine blocks for countries having borders with the sea or ocean is emphasised.

The effect of noble metals on catalytic methanation reaction over supported Mn/Ni oxide based catalysts

Carbon dioxide (CO2) in sour natural gas can be removed using green technology via catalytic methanation reaction by converting CO2 to methane (CH4) gas. Using waste to wealth concept, production of CH4 would increase as well as creating environmental friendly approach for the purification of natural gas. In this research, a series of alumina supported manganese–nickel oxide based catalysts doped with noble metals such as ruthenium and palladium were prepared by wetness impregnation method. The prepared catalysts were run catalytic screening process using in-house built micro reactor coupled with Fourier Transform Infra Red (FTIR) spectroscopy to study the percentage CO2 conversion and CH4 formation analyzed by GC. Ru/Mn/Ni(5:35:60)/Al2O3 calcined at 1000°C was found to be the potential catalyst which gave 99.74% of CO2 conversion and 72.36% of CH4 formation at 400°C reaction temperature. XRD diffractogram illustrated that the supported catalyst was in polycrystalline with some amorphous state at 1000°C calcination temperature with the presence of NiO as active site. According to FESEM micrographs, both fresh and used catalysts displayed spherical shape with small particle sizes in agglomerated and aggregated mixture. Nitrogen Adsorption analysis revealed that both catalysts were in mesoporous structures with BET surface area in the range of 46–60m2/g. All the impurities have been removed at 1000°C calcination temperature as presented by FTIR, TGA–DTA and EDX data.

The Internationalization of Family Firms

This article systematically reviews and critically examines 72 journal articles published (from 1980 to 2012) on the internationalization of family firms. Stemming from existing literature, core aspects and main gaps are identified. We aim to overcome the inconclusiveness of findings of previous research by offering an integrative theoretical model integrating the concept of socioemotional wealth with the revised Uppsala model. Our framework helps understand behaviors of internationalizing family firms by focusing on when and how they internationalize, especially related to risk attitudes, the role of knowledge and networks. Ultimately, we provide future research themes flowing from our suggested model.

1 Introduction: Inalienability, Value, and the Construction of Social Difference

ABSTRACTAnnette Weiner's concept of “inalienable wealth” is a powerful theoretical construct that can help archaeologists understand how artifacts gained value, were used to foster group identity, and created social difference. In this chapter we first review the concept of inalienable wealth as conceptualized by Weiner for use in understanding cultural practices of contemporary societies in Melanesia. We then discuss why inalienable wealth holds potential for archaeological datasets, how archaeologists have used it in the recent past, and how contributors to this volume employ the concept.

From ‘Wealth of Nations’ to ‘Happiness of Nations’: Tracing the Path to the Concept of ‘Gross National Happiness’

It is increasingly being acknowledged that for true well-being and for a fulfilling life, social and economic development should be accompanied with happiness or subjective well-being. Development theories encompass growth, rise in gross domestic product (GDP) and human development, but often ignore deeper issues of happiness. Economists have confined themselves to a narrower concept of wealth, basically because it can be measured and accounted. Well-being, including subjective well-being, is a broader concept. Both Aristotle in the western tradition ages ago and Dalai Lama today in the East agree that happiness is an end in itself and man pursues all other goals because they lead to happiness. The concept of happiness in economics was confined for many years to issues of growth and development. However, realising that social well-being and happiness cannot be reduced to a simple quantitative index like gross national product/GDP, thinkers have developed a comprehensive model to define and measure quality of life in holistic and psychological terms, i.e. Gross National Happiness (GNH). The paper attempts to explore and understand the concept of GNH, as developed in Bhutan. It is an attempt to trace chronologically the various theoretical approaches in the sphere of social wellbeing and happiness. The paper discusses in detail the ideas of defining the criterion of a happy society, identifying the metrics of GNH, measuring GNH and the possibilities of actually using the concept in assessing economic and social welfare.

Sharing the Wealth

This article critically examines the notion that wealth sharing in the aftermath of internal armed conflicts can bring about long-lasting peace. While wealth sharing is increasingly considered a crucial element of peacebuilding, the evidence concerning its success is inconclusive. Previous studies unfortunately suffer from weak theoretical and empirical definitions of wealth sharing and from examining only a subset of postconflict societies. This article improves the research by disaggregating the concept of wealth sharing to concrete policy relevant natural resource management tools and by introducing new and better data on wealth sharing and including more postconflict peace periods than previous studies. This article examines the relationships between armed conflict, wealth sharing and peace by studying two independent but interlinked research questions: In which postconflict societies is wealth sharing most likely to be adopted? And can wealth sharing bring stable peace in postconflict societies? The analyses show that wealth sharing is more likely to be implemented after natural resource conflicts. Nonetheless, the article does not find that wealth sharing is successful in bringing postconflict peace after these conflicts. Reasons for this can be that (1) other factors than wealth sharing explain the outcome better, and (2) the wealth sharing policies are poorly designed and implemented. The article concludes that wealth sharing can only be a suitable path for societies recovering from armed conflict if such policies are carefully designed to fit the specific context and take into account the challenges that will arrive.

Happiness: What Can We Learn from Indonesian?

The economics of happiness is an interesting way to provide broader concept of wealth. It is able to provide insight on relative utility that is not only depending by income as mediated by individual choices or preferences within monetary budget constraint but also non monetary factors. Recent economic studies on happiness or subjective well being, most of them in developing countries, are able to give us some insight what makes individuals satisfied with their lives. Some of the studies in developed countries also found that within countries, higher level of income contribute on higher level of reported well being. Unfortunately, economic studies on happiness in developing countries, including Indonesia, are limited because of data limitation. Therefore, this paper analyzes the determinants of subjective well being in Indonesia assess whether there is positive association between individual wealth and happiness. Using Indonesia Family Life Survey Data Set, logistic regression analysis is used to identify the source of happiness from both economic and not economics variables..

What is China Rising To? Assessing China's and America's Primacy Potentials

What is China rising to? Are we living in an era of power transition which will eventually lead to the passing of primacy from the United States to China? This paper uses an underutilized concept of comprehensive power to assess the future of China’s rise and the prospects of Sino-U.S. competition over international primacy. It argues that despite the political will to rebalance the economy, China will continue to follow an investment-intensive growth path. However, contrary to the prevalent belief that this path will soon lead to a crash or stagnation of the Chinese economy, China will overtake the United States as the world’s largest economy during the 2020s. But sheer economic size is not a good indicator of power, and economic primacy is both conceptually distinct and practically distant from strategic primacy. To measure primacy potential, I introduce the concepts of high-technology wealth and international alignability as the prime resources of a state’s hard power and soft power, respectively. These proxies will be used to assess how China's economic growth will shift the Sino-US balance of full scale power in the next three decades.