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The equation of unified knowledge says that S = f (A,P) which means that the practical solution to a given problem is a function of the existing, empirical, actual realities and the future, potential, best possible conditions of general stable equilibrium which both pure and practical reason, exhaustive in the Kantian sense, show as being within the realm of potential realities beyond any doubt. The first classical revolution in economic thinking, included in factor “P” of the equation, conceived the economic and financial problems in terms of a model of ideal conditions of stable equilibrium but neglected the full consideration of the existing, actual conditions. That is the main reason why, in the end, it failed. The second modern revolution, included in factor “A” of the equation, conceived the economic and financial problems in terms of the existing, actual conditions, usually in disequilibrium or unstable equilibrium (in case of stagnation) and neglected the sense of right direction expressed in factor “P” or the realization of general, stable equilibrium. That is the main reason why the modern revolution failed in the past and is failing in front of our eyes in the present. The equation of unified knowledge, perceived as a sui generis synthesis between classical and modern thinking has been applied rigorously and systematically in writing the enclosed American‐British economic, monetary, financial and social stabilization plans. In the final analysis, a new economic philosophy, based on a synthesis between classical and modern thinking, called here the new economics of unified knowledge, is applied to solve the malaise of the twentieth century which resulted from a confusion between thinking in terms of stable equilibrium on the one hand and disequilibrium or unstable equilibrium on the other.

In the last four years, since Volume I of this Bibliography first appeared, there has been an explosion of literature in all the main functional areas of business. This wealth of material poses problems for the researcher in management studies — and, of course, for the librarian: uncovering what has been written in any one area is not an easy task. This volume aims to help the librarian and the researcher overcome some of the immediate problems of identification of material. It is an annotated bibliography of management, drawing on the wide variety of literature produced by MCB University Press. Over the last four years, MCB University Press has produced an extensive range of books and serial publications covering most of the established and many of the developing areas of management. This volume, in conjunction with Volume I, provides a guide to all the material published so far.

This article is concerned with pre‐tax total income distribution in 18 “western” countries. Its objective is a tentative comparison among national income distributions and the study of trends since the 1950s. Similar issues have recently been analysed in a number of studies. This analysis differs from them in three main respects. Firstly, it refers to a group of nations which excludes developing countries. In spite of substantial differences in political and socio‐economic structures in this group of countries, processes of income distribution have a great degree of similarity. Income statistics are then more “homogeneous” and their comparison more meaningful than in studies covering developed and developing nations. Secondly, the article differs in the methodology it uses. Other studies have relied on “strict comparisons” of income statistics, for example they have compared values of coefficients of inequality and of income shares. In this article “loose classification”, for example categorisation of countries into groups (see following section), is used as a means of comparing income distributions. This makes it possible to allow, within limits, for the fact that the value of the data can be different from the one which is observed, even when statistics seem “fairly” accurate and comparable. Thirdly, the possible influence of the data source on each country's position is examined by considering a plurality of sources whenever possible. Intentionally, this article does not include discussion of most of the problems which exist in the field of income distribution—including those concerning coverage and reliability of data. It is expected that the reader keeps them and their various caveats well in mind when evaluating the empirical evidence which is presented. The explanation of differences in income distribution structures is outside the scope of this article.

Among developing countries, the Republic of China in Taiwan (hereinafter Taiwan) has been experiencing economic growth accompanied by improving income distribution. Between 1964 and 1980, the average annual growth rate of the real gross national product was 9.92 per cent (Council for Economic Planning and Development (CEPD), 1982, p. 23). In the same period, the income ratio between the top 20 per cent and the bottom 20 per cent of families dropped from 5.33 to 4.17 and the Gini coefficient decreased from 0.36 to 0.30 (CEPD, 1982, p. 54; Directorate‐General of Budget Accounting and Statistics, 1980, (DGBAS), p. 44). To put it somewhat dif‐ferently, in 1964 the lowest fifth of households received 7.71 per cent of total personal income, and the highest fifth 41.07 per cent. But in 1980, the income share of the lowest fifth increased to 8.82 per cent while that of the highest fifth decreased to 36.80 per cent. The condition of greater equality in income distribution appears more obvious in the capital city of Taipei. In 1981, for instance, its Gini coefficient was estimated to be only 0.28 (Taipei Bureau of Budget, Accounting and Statistics, 1981, (TBBAS), P. 24).

As an essential part of mainstream Western development economics, the trickle-down theory originates from the behavioral choices and iterations of thought on conflicts of interest in the evolution of remuneration structure in Western countries. The fundamental flaw of the logic of this theory is that it conceals the inherent implication of social systems and the essential characteristics of social structures.

This paper examines the relationships among economic growth, income distribution and poverty from the perspective of social relations of production – the nature of production relations determines the nature of distribution relations and further determines the essence of trickle-down development, and ownership is the core mechanism for realizing the trickle-down effect.

The stagnation or smoothness of the trickle-down effect in different economies is essentially subject to the logic of “development for whom”, which is determined by ownership relationship.

To be more specific, “development for capitalists” and “development for the people” indicate two distinctly different economic growth paths. The former starts with private ownership and follows a bottom-up negative trickle-down path that inevitably leads to polarization, while the latter starts with public ownership and follows a top-down positive trickle-down path that will lead to common prosperity in the end.

The purpose of this paper is to decompose the inequities induced by the Nigerian health care financing sources and their effect on the income distribution. Inequities in health care financing sources are of immense policy concern particularly in developing countries such as Nigeria, where high-level income inequality exists, and the cost of medical care is generally financed out-of-pocket (OOP) due to limited access to health insurance.

The Duclos et al. decomposition model provided the theoretical framework for the study. Data were obtained from two waves of the Nigeria General Household Survey (GHS) panel, 2012–13 and 2015–16. The analysis covered 3,999 households in 2012–13 and 4,051 households in 2015–16. Two measures of health care financing: OOP payment and health insurance contribution (HIC) were used. The ability to pay measure was household consumption expenditure.

The major inequity issue induced by the OOP payments was vertical inequity. HICs created the problems of vertical inequity, horizontal inequity and reranking among households. Overall both health care financing options were associated with the worsening of income inequality both at the national and sectorial levels in the country. The operations of the NHIS need to be improved to ensuring improved health care coverage for the poor.

This paper fulfills an identified need to determine the income redistributive effects (REs) of the social health insurance (SHI) contribution at the national, urban and rural locations overtime.

The neo-Kaleckian model follows the ideas of Marx, Keynes and Kalecki, that investment is a key influencing factor in the dynamics of the capitalist mode of production. Through the discussion of different forms of investment decision function, this paper constructs the analysis framework of wage-led and profit-led economic growth regimes.

The model has become an important theoretical paradigm for current Western heterodox economists regarding the research on the impact of functional income distribution on economic growth, and it has a very large impact on both theoretical and empirical research. Starting from Marx's reproduction theory, this article discusses the theoretical shortcomings of the neo-Kaleckian growth regime model.

This paper mainly focuses on three aspects: (1) the ideological legacy of “Smith's Dogma”; (2) neglecting the restrictions on income distribution from the organic composition of capital and the surplus value rate; (3) technological progress and the formation of a new long economic wave.

The authors believe that the neo-Kaleckian model unilaterally emphasizes the demand-side factors in the economy and, unconsciously or not, ignores the role of the supply-side, which makes it encounter certain limitations in explaining long-term growth. Even if some empirical conclusions are employed to bridge functional income distribution and technological progress, there is still a lack of a theoretical basis for accurately describing long-term economic changes using this model. In order to better promote high-quality economic development and accelerate the formation of a new pattern of economic development in which the domestic large-scale cycle is the mainstay and the domestic and international double cycles promote each other, the authors need to adopt a policy combination with the supply-side as the main and the demand-side as the supplement, and to work from both sides.

Explains how and why the household should, and could, be an object of analysis for a new social accounting. It shows that the household has been neglected in national income accounting, which generally tends to represent it as a black box. It also shows how the data from national income accounting can be reworked to demonstrate the importance of the household at macro and meso levels. The reworking shows that 84 per cent of GDP passes through the household just as, at the meso level, there are important differences between households in how they pool, spend and save income.

In the process of reform, although every landmark theoretical breakthrough is marked by the speech of the highest leadership of the Communist Party of China (CPC) or the decision of the CPC National Congress, each breakthrough is attributable to the theoretical contribution made by the academia of political economy. Notably, these theoretical breakthroughs invariably embrace innovations in the discourse system of political economy. The paper aims to discuss this issue.

The innovations and breakthroughs thereof have led to the political economy of socialism with Chinese characteristics.

The success of China’s economy highlights the superiority of the socialist economic system and development path with Chinese characteristics.

These major breakthroughs are accompanied by breakthroughs in relevant theories, which constitute a synthesis of a series of major theoretical innovations in political economics.

At present, the Chinese economy has entered the “new normal” phase with the transformation of development stages from the low-income to the middle-income ones. Accordingly, there appear a series of innovations in development theories. Innovations involve creative destructions. Therefore, innovative development theories at the present stage either deny the prevailing principles of development economics, or deny the theories that once effectively guided development at the low-income stage, or even sublate some of the development polices which were propelled and proved effective at the beginning of the reform and opening-up. The fundamental reason is that, as the development stages evolve, there occur new development tasks, new periodical characteristics and new laws of development. The paper aims to discuss these issues.

Any development theory from abroad will find it difficult to correctly guide and clarify development problems in a socialist country, such as the huge population and the extreme imbalance between the urban and the rural and among regional developments.

In conclusion, China, as a large world economy, has made innovations in its economic development theory, which indicates that it intends to perfect itself rather than seek hegemony. As the world’s second largest economy, China should adapt to the transformation and further free people’s minds instead of adhering to the old patterns of thinking. It should think over the path of development for a great world economy from the historical starting point of a large world economy and find development strategies to transform itself from a large economy to a great economy, so as to realize the dream of the Chinese nation to build a powerful country.

Only political economy studies both the relations of production and the productive forces, and only a theory combining both can correctly guide China’s economic development, which especially needs to be promoted by taking advantage of socialist economic system. Therefore, the first and foremost principle for a socialist political economy with Chinese characteristics is to insist on liberating and developing productive forces.