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In human history, poverty for most and prosperity for few is the norm. Thus, no theory or practice of common prosperity has been developed. Marxism first formulated the theory of common prosperity, and the classical Marxist authors conducted theoretical exploration on the issue of common prosperity, forming a series of scientific conclusions.

The century-long practical history of the Communist Party of China (CPC) is the great practice of leading the Chinese people in getting rid of poverty, letting some people and regions get rich first and ultimately achieving the goal of common prosperity.

Common prosperity is the great practice of the CPC that leads all Chinese people in building a modern socialist country in an all-round way in the new era.

The path of common prosperity with Chinese characteristics will certainly arise in the process of the great practice of common prosperity with Chinese characteristics. Based on the anti-poverty theory and the “spirit of poverty alleviation” from the battle against poverty with Chinese characteristics, the theory of common prosperity and its spirit with Chinese characteristics will certainly be formed. The above conclusions constitute the basic principles of the theory of common prosperity with Chinese characteristics.

The shared development concept is crucial for the construction of a socialist political economy with Chinese characteristics. The paper aims to discuss this issue.

This is because shared development constitutes the logic thread of the socialist political economy with Chinese characteristics and the core for the formation and development of its whole system.

China’s modernization is well underway and is following a unique path with its own characteristics, whereby shared development is undoubtedly one of its core values.

In the new era, the development path under the concept of shared development of socialism with Chinese characteristics must adhere to the all-round development of human beings, promote social equity and justice via development, and embrace inclusive growth, specifically, pro-poor growth.

Ranking as the lowest-scoring region for many years on the corruption perceptions index (CPI) with an average score of 32 (2019–2021), Sub-Saharan Africa’s performance gives a bleak impression of inaction against corruption. The objective of this study aims to examine the effect of technological innovation in curbing corruption in Africa through prosperity.

CPI, prosperity index and individuals’ access to internet in the presence of some covariates were employed using the Andrew Hayes’ mediation analysis and cross sectional data in estimating the relationship among the variables as it affects all 54 African countries in the years 2012, 2015 and 2018.

The coefficients of the direct, indirect and total effects showed that internet access is only significant in reducing corruption if it is engaged in activities that create national prosperity (jobs, profits, infrastructural development and good governance).

The uniqueness of this study is predicated on the fact that a realistic analysis of the effect of technological innovation on corruption should include the channels it goes through. Thus, this study evaluates the direct, indirect and total effects of innovation on corruption through prosperity enhancement. Another unique aspect of this study is the use of market-creating innovation.

The socialist political economy with Chinese characteristics is the scientific fruit of Xi Jinping thought on socialist economy with Chinese characteristics for a new era. People-centred philosophy is the core values of the Communist Party of China (CPC) Central Committee's governance of China with Xi Jinping as the core and has become the core values of the socialist political economy with Chinese characteristics. According to Xi Jinping thought on socialist economy with Chinese characteristics, it represents the interests of all people and determines the disciplinary attribute of the socialist political economy with Chinese characteristics, that is, people-centred economics. Xi Jinping has defined the essence of the socialism as eliminating poverty, improving people's livelihood and gradually realising common prosperity. That determines the main line of socialist political economy with Chinese characteristics is to liberate, develop and protect the productive forces and achieve common prosperity. This study aims to discuss the aforementioned statements.

Xi Jinping's scientific judgement on the new stage of development and the principal contradiction facing Chinese society has put forward the requirement of problem orientation for the study of socialist political economy with Chinese characteristics, involving the main contradiction facing Chinese society, high-quality development and modernisation. China's socialist basic economic system consists of a socialist market economy in which public ownership plays the leading role alongside other forms of ownership and distribution according to work is the mainstay, while other forms of distribution coexist alongside it. And this socialist basic economic system, marked out from three dimensions—production, distribution and exchange analysis, is the key of analysis of systems in the socialist political economy with Chinese characteristics. The economic operation analysis in political economy mainly involves resource allocation and the government's macroeconomic regulation and control.

The new thought and new practices about the role of the market and the government in the new era have opened up a new realm for the economic operation analysis in the socialist political economy with Chinese characteristics. The new development philosophy and new development paradigm define the content of the economic development theory in the socialist political economy with Chinese characteristics. The new development paradigm reflects the dual circulation theory of social reproduction.

The socialist political economy with Chinese characteristics is to study laws of economics in various aspects from economic system, economic operation, economic development to foreign economy and provide the basic principles of socialist political economy with Chinese characteristics. Its mainstream economic position will be consolidated continuously.

As the essential requirement of socialism with Chinese characteristics, common prosperity stands for both the goal of and the approach to economic growth. Shared development is a new stage of the process of common prosperity. From the perspective of economic growth, it requires the low- and middle-income groups to gain more from the growth than high-income groups. The paper aims to discuss these issues.

Based on provincial panel data, the random effect model and the dynamic panel model are used in this paper to analyze the path to achieve pro-poor growth.

The keys to achieve pro-poor growth are first to promote new urbanization with people at the center, diversify the forms of employment and improve the income structure of the residents, and second to improve the accuracy in designing redistribution policies.

After the realization of “some get rich first” policy, it is important to swiftly adapt to a new mindset of shared development, which charters a new course to the Marxist common prosperity. There exist few established economic theories or action plans with respect to shared development. Pro-poor growth, however, offers a perspective to achieve both sharing and development.

In the course of cultural evolution, certain institutions have emerged and become dominant in the Western world that have led to an unprecedented rise in prosperity and population. This paper first explains the characteristics and significance of cultural evolution. Subsequently, it explains the fundamental role of politics and the scope for political action in cultural evolution, clearing up some fairly widespread misconceptions about this question. Finally, it derives three specific guidelines from the characteristics of cultural evolution that should be followed in politics. First, the principle of individual freedom should be realized as far as possible. Second, the rule of law should be secured. Third, the scope of action of the state should be closely limited and the state should be decentrally organized. The more consistently these guidelines are followed, the better the prospects of the respective society to survive and prosper in the competitive process of cultural evolution.

In Chapter 1, we critically reviewed the foundations of the free enterprise capital system (FECS), which has been successful primarily because of its wealth and asset accumulation potentiality and actuality. In this chapter, we critically argue that this capacity has been grounded upon the profit maximization (PM) theories, models, and paradigms of FECS. The intent of this chapter is not anti-PM. The PM models of FECS have worked and performed well for more than 200 years of the economic history of the United States and other developed countries, and this phenomenon is celebrated and featured as “market performativity.” However, market performativity has not truly benefitted the poor and the marginalized; on the contrary, market performativity has wittingly or unwittingly created gaping inequalities of wealth, income, opportunity, and prosperity. Critical thinking does not combat PM but challenges it with alternative models of profit sharing that promote social wealth, social welfare, social progress, and opportunity for all, which we explore here. Economic development without social progress breeds economic inequality and social injustice. Economic development alone is not enough; we should create a new paradigm in which economic development is the servant of social progress, not vice versa. Such a paradigm shift involves integrating the creativity and innovativity of market performativity and the goals and drives of social performativity together with PM, that is, from market performativity to social performativity.

The study aims to extend the conventional triple bottom line (TBL) framework (prosperity, people and planet) to the quadruple bottom line (QBL) by newly adding a “prophet” dimension for Islamic banks seeking compliance with Islamic law in their pursuit of sustainability.

Employ Chapra's corollaries of maqasid al-shari'ah (the goals of Islamic law) to develop constructs for a survey of 504 Islamic bank stakeholders from five Indonesian provinces to gather primary data to quantitatively verify the dimensions and items in the proposed QBL framework. Categorical principal component analysis (CATPCA) then identifies the sustainability of ten Islamic banks from ten countries as a trial application of the resulting QBL index.

Using the dimensions and items identified using CATPCA, the authors develop a QBL index to assess the sustainability of the ten Islamic banks. The findings suggest that half of the banks are sufficiently sustainable, with three being proactive (doing more than is required) and two being accommodative (doing all that is required). The remaining five banks are unsustainable, with two banks being defensive (doing the least that is required) and three being reactive (doing less than is required). Most of the banks perform relatively poorly according to the “planet” (38%) and “people” (41%) dimensions and perform better on the “prosperity” (53%) and “prophet” (63%) dimensions. Nonetheless, there is ample room for improvement across all dimensions of sustainability.

The generalizability of the findings is limited by the small-scale single-country survey used in the CATPCA part of the analysis. Only ten Islamic banks were included in the QBL scoring and ranking exercises

Islamic banks can improve their sustainability by increasing green financing and reaching out to rural areas and disadvantaged populations. In countries with Islamic banking systems, regulators can support this through training, guidance and incentives.

Pioneering exploration of TBL from maqasid al-shari'ah perspective. First, we develop a QBL index to assess the sustainability of Islamic banks in line with actual stakeholder expectations.

The typical corporation is based on free capital markets, and in general, on the free market capital system for all its factors of production, distribution, and consumption. Hence, this chapter studies the economic, legal, ethical, and moral goodness and promise of the Free Enterprise Capitalist System (FECS) as it exists and thrives in the open and free economies of the world. We will review several versions of FECS starting from Thomas Aquinas (1225–1274) views on private property, Thomas Hobbes’ (1588–1679), The Leviathan (1651), Adam Smith (Wealth of Nations, 1776), Max Weber (The Protestant Ethic and the Spirit of Capitalism, 1904/1958) to modern defenses of capitalism by David Bollier (Aiming Higher, 1997), Raghuram Rajan and Luigi Zingales (Saving Capitalism from Capitalists, 1998, 2004), C. K. Prahalad (2005) on Inclusive Capitalism, Nitesh Gor (The Dharma of Capitalism, 2012), and John Mackey and Raj Sisodia (Conscious Capitalism, 2014), to name a few. Based on these seminal authors and subsequent theoretical developments, this chapter seeks to defend, save, and uphold the goodness of the FECS along multiple viewpoints such as economics, management, law, ethics, morals, and executive spirituality.

While numerous comparative studies have measured women's participation in starting or owning a business, the factors stimulating their engagement in highly productive entrepreneurial activity have been understudied. The purpose of this paper is to address this gap in the literature.

This study compares country‐level data on the institutional and cultural factors that affect a woman's decision to start and grow a business with country‐level measures of the entrepreneurial environment, innovative activity and access to opportunity.

It was found that three institutional and cultural factors influence the decision calculus of women to found and expand enterprises: legal and social status; institutional presence; and economic empowerment. Women who have the requisite support exploit market opportunities and translate their ideas, creativity and skills into high potential, high growth ventures. This in turn generates entrepreneurial activity, job creation and prosperity at the country level.

Comparable data on variables of interest, including the number of female‐founded high‐growth businesses and child care support, for example, are not available across countries. This study uses proxies and indices where data are missing and makes recommendations on improving data collection for future scholarship.

Improving access to collateral by strengthening the property rights of women, increasing the representation of women in banking, business, government and academia, and providing greater economic empowerment of all women produces more productive entrepreneurial activity and prosperity for the entire population.

Women entrepreneurs are a missing link that explains variation among countries in the quality and quantity of entrepreneurial activity.