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Focuses on what it will take for Western Europe to compete in the coming decades. Attention is given to the nature of competition in the markets and the likely trends and developments. Addresses key issues such as changes in standards of living, accumulating adverse social forces, economic forces and political risk. Predicts the current trend in European union will not lead to free markets within Europe, and that barriers against competition from sources external to the EU will grow. Suggests that it will be ten years before economic and social forces will need drastic change and until free markets are allowed to develop, the average person will suffer a slower growth, or even a decline in the standard of living.

This paper aims to examine the effects of interest-free and interest-based monetary policy on inflation and unemployment rates for two groups of countries where in one group, interest-free monetary policy (IFMP) was pursued, while in the other group, interest-based monetary policy (IBMP) was followed.

This study involves a sample of 23 developed countries divided into two groups. The authors measure economic performance by misery index (MI), and MI is calculated as unemployment rate plus inflation rate. A group of countries, where MI is lower, performs better compared to the other group where MI is relatively higher.

The results reveal that in group of 12 countries where IFMP is adopted, the MI is lower and thus performs better compared to a group of countries where IBMP is pursued.

The findings of this study have profound implications for the policymakers and government leaders who look for a solution to maintain both low inflation and unemployment rates. The findings in this study clearly portray that such ideal situations can only be achieved by pursuing IFMP. No wonder the countries which have been historically pursuing IFMP such as Japan, Switzerland, Sweden, the Netherlands and Denmark have been able to contain both inflation and unemployment rates compared to their counterparts among the English-speaking countries.

This is one of the most recent tests on the differences in economic performance between IFMP and IBMP. These results have significant value for policymakers and central bankers who have been struggling to maintain lower MI for decades.

This study aims to explore the innovative strategies of business model of the free-to-fee switch, the relationship between the business model innovation and customer knowledge and further develop a conceptual model.

This study adopts a multiple case study method with abductive research logic, following the replication logic to select samples. A total of eight outstanding companies with altogether 312 free-to-fee switch events were selected from 1998 to 2021.

A strategic matrix with four innovative business models for the free-to-fee switch is generated. The parallelism between the models and customer knowledge orientations is also found. Further, the study develops the conceptual model regarding customer knowledge orientation as a key mediation.

The study highlights the conceptualization definition of customer knowledge orientation and its mediation effect to the business model innovation of free-to-fee switch, which is a new issue compared with previous research. Furthermore, it reveals that there exists organizational ambidexterity, which brings a new definition of customer knowledge orientation.

This study suggests how to integrate customer knowledge orientations to support the marketing process of the business model of free-to-fee switch. It also proposes a specific mechanism to conduct the free-to-fee switch with the introduction of four innovative strategic models and eight evolutional paths.

This study creatively proposes the strategic matrix and the conceptual model of business model innovation of free-to-fee switch. Moreover, a new conceptual definition of customer knowledge orientation is specified.

The purpose of this paper is to characterize the motivations used into migrating to lead‐free solder by providing examples and directions for those making the material change.

This work achieves its objective of identifying which electronic industry actions towards lead‐free soldering have been successful and why. The research reported the various motivating factors considered in adopting lead‐free electronics. To that end, the authors researched industry literature and discussed approaches with various companies and agencies. The scope of this paper is largely the board‐component level soldering process and companies involved in the international electronics industry.

The motivation to migrate to lead‐free solder has been and continues to be multi‐faceted. Issues include regulatory, commercial, and technical. Processing with lead‐free solder is successful, so the electronics industry's move towards environmentally compatible processes will meet regulated dates for change.

A company can learn how to incorporate environmental improvement principles resulting from the migration to lead‐free solder. Using that migration as a case study, the company can realize additional benefits by applying these principles to other product lines. Those interested in developing environmentally friendly products and processes can adopt the lessons that this paper identifies. Incorporation of lead‐free techniques, rather than resistance to change, is the result of adopting the lessons.

The paper presents a synopsis of the electronic industry's migration to lead‐free products and processes. It compares motivations for change that other studies have not compared. Manufacturers searching for direction and example to meet waste minimization goals will find the paper useful in providing such.

Two major trends – demographic shifts in the working-age population, and the proliferation of web technologies – are having a profound and generally unrecognized effect on the nature and characteristics of work, and on opportunities for the mature workforce. Key features of the workplace point to seven broad work trends. These trends have significant implications for organizations and for older workers. Six interdependent organizational changes are central to the far-reaching effects on enterprises and operating approaches. These changing work characteristics require certain essential behaviors for mature workers to be successful in the contemporary work environment. Such a dynamic workplace provides opportunity to introduce new thinking and propose new models. Realigning organizational and workforce interests calls for developing solutions beyond the individual level, reorienting enterprise capabilities, and reframing of the organization development practitioner role as work ecosystem advisor. High-leverage strategies and systemic interventions, such as multiconstituent initiatives and action research, can be used to influence constructively the multifaceted world of work.

This paper aims to investigate the macroeconomic effects of Qard-al-Hasan (QH) as a tool of monetary policy (MP) and its effectiveness in achieving full employment and price stability in the economy.

QH-based MP and its effects on major macroeconomic variables are examined on theoretical ground by using the standard aggregate output and aggregate expenditure model within the framework of Islamic economic principles.

QH-based MP positively influences real sectors of the economy and increases output, and the economy returns to full employment. QH provides the lowest possible borrowing costs across the economy and thus triggers rightward shift in aggregate supply curve and thus increases output and lowers price level. In addition, increase in output eliminates excess demand or shortages and thus maintains price stability. Furthermore, QH-based MP also increases exportable surplus and exports, decreases imports as well as increases inflow of funds and foreign currency reserves with the Central Bank and thus makes MP more effective.

QH-based MP is usually expansionary MP, and as such, it can be argued that there is a probability that QH-based MP may lead to higher inflation rate. However, in this study, it has been shown with real world data in Table II, that 23 countries in Group 1 have pursued zero or negative interest rate policy and their experiences mitigate such probability.

This is, perhaps, the first paper that presents a complete model of QH as a tool of MP with fully explained transmission mechanism. This is new contribution in the literature of Islamic finance where theoretical model on QH is systematically developed and applied as an effective tool of MP in attaining full employment and price stability. This model of QH-based MP can unfold a new horizon of uninterrupted economic growth, full employment and price stability by increasing output and employment, as well as by eliminating excess demand or shortages.

In his economic writings John Paul II asserts the importance of placing the human person at the center of deliberations concerning the economy. Neoclassical economists show that free trade enhances the efficiency of society. However, a byproduct of free trade is greater competition, as countries and firms adjust to the introduction of new products and processes of production, made possible through technological innovation. Neoclassical economists assume that workers will move to where new jobs develop. In many cases, however, this means that they impose burdens on their family and become more distant from friends. Each human person establishes bonds with other persons; through such family bonds of friendship a person becomes more human. This essay explores the tension between greater productive efficiency and a desire to maintain and enhance friendships. Never merely objective analysts, neoclassical economists have strong convictions concerning dynamic efficiency, while consumers have convictions about friendship. These two sets of convictions have to be reconciled. In order for policy makers to assess the true costs of free trade, mobility measures must be developed, and the neoclassical model must be modified to incorporate geographical stability as a significant factor for consumers.

This paper aims to compare Pareto optimality for altruistic and individualistic societies to show whether it is possible to have Pareto improvement through altruistic acts even after free market equilibrium.

The paper follows conceptual, axiomatic and theoretical approaches to show Pareto efficiency in altruistic versus individualistic societies. The paper first outlines the welfare axioms of Islamic economics compared to those of capitalism. Second, it defines Pareto efficiency within capitalist and Islamic economic systems. Third, it compares and contrasts the concept in the two systems based on their epistemological and anthropological worldviews. Fourth, it shows how – even under the efficient allocation of material goods – room for Pareto improvement still exists through the redistribution of resources. Finally, it demonstrates optimum income transfer for social welfare maximization.

The paper shows that Islamic economics relying on certain welfare axioms aim for an altruistic society. It then theoretically proves that social well-being would be greater in such an altruistic society in comparison to an individualistic society promoted by capitalism, holding everything else constant. The paper clearly shows that free market equilibrium does not maximize social utility. It theoretically demonstrates that even under efficient allocation of material goods, there is still room for Pareto improvement through redistribution of resources. It reveals that optimum income transfer might not be possible through voluntary altruistic behaviors unless people transcend self-interest and begin to value social interest as important as their own interest. Therefore, the paper suggests a role for the government to reach optimum-level income transfer for social welfare maximization.

The paper is purely theoretical. Its main limitation is not to be empirically tested. Future studies might shed light on the issue through empirical evidence

Pareto improvement provides important guidance or at least moral justification for welfare programs. The paper might directly affect welfare policy of Muslim countries.

The paper suggests income transfer through altruistic acts would provide higher social welfare. Therefore, it is in the best interest of nations to promote altruistic behaviors and support voluntary welfare programs for higher social utility.

The paper contributes to the Islamic moral economy doctrine by proving that altruistic behaviors encouraged by Islamic teaching could provide higher social welfare.

The electronics industry will implement lead‐free soldering in the near future. Lead‐free implementation steps are divided into lead‐free process and lead‐free product. The eutectic Sn/Ag/Cu alloy seems to have become the most widely used alloy in the implementation of lead‐free processes. In this study, the requirements for component placement are discussed from the lead‐free process point of view. Experiments concerning the self‐alignment capability and tack strength of both tin‐lead and lead‐free solder pastes are presented. According to the results, a bigger variation in self‐alignment capabilities can be expected when using a lead‐free paste. The paste properties affecting the self‐alignment mechanism and tack strength are also discussed.