Search results

Hazel Kyrk’s contribution is the most advanced formulation of the economics of consumption as a social phenomenon, an approach to the analysis of consumption that, originated from Veblen’s theory, was developed in the US in the early 20th century. This approach was part of a wider stream of empirical analyses of consumption expenditure that had begun more than a century earlier.

Along with elements that can be traced back to the neoclassical tradition, in Keynes’ analysis of consumption, we find original elements. The dependence of consumption expenditure on the level of income, which is essential for asserting the principle of effective demand, can also be found in a long tradition of empirical studies. In qualifying this relationship, Keynes uses theoretical elements echoing key insights of the economics of consumption as a social phenomenon. There is no documentary evidence that Kyrk or the economics of the social relevance of consumption came to Keynes’ attention. It is possible, however, to develop reasonable speculative considerations to argue a link between Keynes’ elaboration and both the empirical literature on the determinants of consumption and the economics of consumption as a social phenomenon.

This chapter discusses conceptual links among Hazel Kyrk’s A Theory of Consumption (1923), the overall work of Thorstein Veblen, and Wesley C. Mitchell’s essays on spending and money. The three authors are concerned with transformations in production, related changes in the organization of consumption, and the effects on people. The approach is based on reading of Kyrk’s book in light of an integrated view of Veblen’s overall work. This chapter explains how Mitchell’s essays on money and spending built on Veblen’s work and discusses their relevance for understanding Kyrk’s book as conceptually linked to institutional economics. This chapter delineates the following commonalities: conception of living humans and money as an institution; distinction between business and industrial concerns; connection between distribution, waste, and consumption; and Veblen’s “machine process” of standardization in production and its relation to consumption. This chapter brings more detail in the conceptual and theoretical discussion of Veblen’s influence on Kyrk’s book.

This chapter examines the impact of sectoral indebtedness on GDP in Czechia, initially a low-indebted small open economy in which debt dynamics are becoming a major concern. The impact of household debt, non-financial corporation debt and public debt is analysed with the use of local projections based on instrumental variable estimations. The results show a more pronounced influence of household debt compared to non-financial corporation and government debt. Initially, increasing household debt stimulates short-run economic activity, but in the medium run, it limits household consumption and negatively affects output. This negative impact gradually turns into a positive effect in the long run. Non-financial corporation debt has a negative short- to medium-run impact but can have a small positive effect in the long run due to the prevalence of tradable industries. Public debt initially has a short-run negative impact, but then gradually becomes positive. Overall, the findings have implications for macroeconomic policies and the importance of monitoring financial stability.

Hazel Kyrk’s recognised contributions include a shift in analytic focus from production to consumption, pioneering work to measure household production as part of family income, empirical studies of family behaviour, and contributions to policy. But her account of ‘wise’ consumption and its intersection with ‘high’ living standards is not well understood. The three aims of this chapter are to explain ‘wise’ consumption across Kyrk’s three major books, to consider its role in Kyrk’s empirical studies, and to explain why it fell into oblivion. Tackling what Wesley Mitchell described as the ‘most baffling of difficulties’, Kyrk explained what constitutes a family’s ‘good’ in a manner that was critical of mere emulation. Her 1923 book required that wise consumption include new and personal elements. Her 1929/1933 book detailed five qualitative criteria (balance between interests, full and varied experiences, originality, rational sources of satisfaction, and the use of scientific information). But her 1953 book weakened this normative language, reflecting Margaret Reid’s view that Kyrk’s account was too demanding. Although Kyrk felt wise consumption avoided paternalism, her peers disagreed (Hoyt, 1938/1945; Reid, 1938/1945). We close with some problems with Kyrk’s account and a brief consideration of its continuing relevance.

Czechia is a small open economy and a member state of the European Union. Several important trends and episodes that have determined economic growth can be identified over the last two decades. This chapter deals with some macroeconomic features like macroeconomic and labour market performance within the business cycle, the Czech National Bank (CNB) exchange rate commitment and interest rate policy, increasing indebtedness and budget deficits, foreign trade and the international investment position. We applied publicly available data from Eurostat, the Organisation for Economic Co-operation and Development and CNB databases. The data show that the Czech economy was significantly converging to the average economic level of the European Union. We also identified key turning points in business cycles. Macroeconomic data on economic development of the economy indicate an atypical course of the business cycle between 2020 and 2022, which can be evaluated as different from the one that followed the global financial crisis.

This review shows the systematic and bibliometric review of 361 papers on the impact of corporate social responsibility on firm performance from 2013 to 2023. The aim of this review is to research the development trends of women’s financial inclusion and women’s financial literacy during this period. The outcomes show that the issue of women’s financial literacy and women’s financial inclusion is particularly highlighted by scholars since 2019, especially for 2021 and 2022. This review focusses on two aspects of analysis: publish performance and content. In terms of published performance analysis, the publication information of papers is analysed to understand the publication trends and author’s research trends in this decade, and bibliometric maps are generated using VOS-viewer software. The bibliometric map shows that India and the USA are in the middle of the map which shows that the authors from these two nations have strong correlations with other authors. For the content analysis, we used VOS-viewer software to analyse the content of the title and abstract, the outcomes reveal three main streams about financial literacy and financial inclusion for women, especially in rural regions in developing economics and the suggestions for policymakers and government. This review attempts to cover the systematic and bibliometric analysis by presenting findings through analysis of selected papers, which highlights some possible gaps and opportunities in the literature along with a scope of directions for future research.

Although healthcare and healthy living are integral to the Sustainable Development Goals (SDGs) for 2030, the coronavirus epidemic has dealt a devastating blow to these efforts. As governments and policymakers were compelled to shift their focus to lockdowns, sustenance, procurement, and distribution of vaccines, the momentum for health initiatives slowed, and the already fragile health systems of emerging markets were subjected to additional shocks. However, in many underserved regions of the globe, the introduction of technology has greatly facilitated the distribution and adoption of healthcare services.

This chapter highlights mini-cases from four emerging nations: Bangladesh, Nigeria, Vietnam, and the Philippines. Although the countries are emerging, each one of them are in a distinct stage of development and face a unique set of healthcare-related challenges. The chapter showcases how four different organizations based in these countries leveraged the use of technology to take healthcare services to underserved populations. In doing so, they addressed the key challenges of imparting healthcare: geographic accessibility, availability, financial accessibility, and acceptability.

This chapter concludes with a discussion of the implications of expanding healthcare industries leading to increased healthcare waste. To prevent mass population exposure to hazardous substances, the emergence of intelligent healthcare waste collection and disposal systems will be an absolute necessity. Hence, with the development of healthcare services, governments and policymakers need to mechanize smart waste management systems to safeguard humans, animals, and the environment.