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The aim of the study is to demonstrate evidence that societal ageing and poor economic growth are linked in the advanced economies. It challenges the claim however that secular stagnation represents a serious problem for future prosperity.

This paper critically reviews recent formulations of the secular stagnation hypothesis concerning stalled economic growth in the advanced economies and the links between demographic ageing and economic slowdown. It outlines both trends (of ageing and stalled growth) and reviews some of the key empirical studies that have sought to determine the role played by demographic change in accounting for the relative lack of growth in the advanced economies.

The advanced economies are ageing and their economic growth is slowing, although a causal link between these two phenomena remains unproven. However, even if no direct causal link can be drawn between these two processes the focus upon the impact of societal ageing serves as a stimulus to re-think the nature of future growth in our increasingly ageing and unequal societies.

While the measurement of demographic trends is relatively straightforward, there are more problems in specifying the exact parameters of macroeconomic growth. This makes empirical studies in the area difficult to interpret. However studies in this area have value in widening thinking about the role of ageing and the nature of growth in the future.

Rather than fearing the prospect of an age related slowdown in the rate of growth in the advanced economies, these developments offer opportunities to focus upon redistribution more than growth, while supporting a programme of growth with equity in the world's developing economies.

While a demographically over-determined model of the secular stagnation hypothesis is dubious, the future ageing of the advanced economies is certainly a challenge. It is also an opportunity for rethinking ideas about ageing, growth and development. Adopting such a more nuanced perspective offers a counter-narrative to the demographic catastrophising that is often evident when discussing 'societal ageing'. It also suggests the value of shifting the perspective of seeking ever increasing growth toward a greater focus upon redistribution, between and within the generations.

There has been very little engagement with the secular stagnation hypothesis outside economics. Behind its macroeconomic formulation, however, lie assumptions about the ageing of society that can easily become examples of unwarranted demographic catastrophising. By bringing this topic to the attention of the social sciences, the paper can serve as a stimulus for rethinking both ageing and growth.

The purpose of this viewpoint paper is to bring attention to the declining rate of entrepreneurship, its effect on the broader economy, the need for public policy solutions and to offer several such solutions. Government intervention is needed to address the stagnation trends discussed throughout the paper. It is up to academic scholars, researchers and think tanks to make government leaders aware of the trends and possible solutions.

A literature review was performed and the need to increase entrepreneurship through public policies was discussed.

The current ten-year economic expansion is suffering from secular stagnation as a result of diminishing new venture creation and slower adoption of technological innovations. Economic policies are heavily tilted toward large, established firms even as new entrepreneurial ventures have greater impact on job creation. The importance of using public policies to spur economic growth through greater opportunity-based entrepreneurship is discussed. Unique tax policy changes are suggested as well as a proposed national business plan competition.

This paper makes a contribution to the entrepreneurship and public policy literature by discussing how the declining rate of entrepreneurship and slower adoption of new technology are related to the relatively tepid pace of economic expansion seen over the last decade in the US. The proposed policies focus on increasing new ventures based on opportunity-based entrepreneurship, and it is hoped that this will help in the development of other policies and spur new lines of research and knowledge that lead to increased economic growth.

The article broaches the important topic of the relationships between governance operationalizations and productivity at the start-up level. It proposes a new approach to reconnect the contingency factors to the optimization of productivity. This helps us to identify the changing characteristics that influence the determinants of decisions, actions and management of the technological projects of the mainly innovative enterprises.

The study uses techniques that effectively solve unobserved endogeneity and heterogeneity problems in enterprises: an empirical–structural design. With this method, this study enables rich empirical conceptualization and helps with extending theory. However, there is a need to further the research by taking into account the system analysis and the complexity of the research object: one of the options might be to explore a possible follow-up of the research through drawing on ethnostatistics and qualimetrics.

The analysis reveals that the phenomenon of technological project productivity in operational governance context is thus manifested by the coexistence of the applied governance configuration variables, the contingency factors operationalization, the optimizing productivity mechanisms and this with the secular innovation and stagnation and stagnation. Ceteris paribus, the governance operationalizations have an important role in the productivity of technological projects of the innovative enterprises.

This research is the first to mobilize as major determinants of the operationalization of governance, the oversight of the capital, the dividend strategy and the system control, the managerial follow-up, the detection of opportunistic behaviours and the application of governing incentives (among others) as governance configuration variables in order to highlight their interactions with productivity in the innovative firm technological projects. For this reason alone, the paper will be referenced by other authors in the future.

Contrasts the methodologies and policy implications of the respective theories of John Maynard Keynes and Alvin Hansen. Keynes used a rationalistic epistemology and deductive logic to deduce a pure theory of employment which implied that monetary policy would be an appropriate remedy for unemployment. Hansen used an empirical epistemology and inductive logic to formulate an applied theory of employment which explained the causes of the Great Depression in the USA. Hansen′s theory of secular stagnation implied that a compensatory fiscal policy would be an effective remedy for unemployment. The respective theories of Keynes and Hansen are complementary, rather than contradictory; therefore, social economists should utilize both of these theories under appropriate circumstances.

A collection of essays by a social economist seeking to balance economics as a science of means with the values deemed necessary to man′s finding the good life and society enduring as a civilized instrumentality. Looks for authority to great men of the past and to today′s moral philosopher: man is an ethical animal. The 13 essays are: 1. Evolutionary Economics: The End of It All? which challenges the view that Darwinism destroyed belief in a universe of purpose and design; 2. Schmoller′s Political Economy: Its Psychic, Moral and Legal Foundations, which centres on the belief that time‐honoured ethical values prevail in an economy formed by ties of common sentiment, ideas, customs and laws; 3. Adam Smith by Gustav von Schmoller – Schmoller rejects Smith′s natural law and sees him as simply spreading the message of Calvinism; 4. Pierre‐Joseph Proudhon, Socialist – Karl Marx, Communist: A Comparison; 5. Marxism and the Instauration of Man, which raises the question for Marx: is the flowering of the new man in Communist society the ultimate end to the dialectical movement of history?; 6. Ethical Progress and Economic Growth in Western Civilization; 7. Ethical Principles in American Society: An Appraisal; 8. The Ugent Need for a Consensus on Moral Values, which focuses on the real dangers inherent in there being no consensus on moral values; 9. Human Resources and the Good Society – man is not to be treated as an economic resource; man′s moral and material wellbeing is the goal; 10. The Social Economist on the Modern Dilemma: Ethical Dwarfs and Nuclear Giants, which argues that it is imperative to distinguish good from evil and to act accordingly: existentialism, situation ethics and evolutionary ethics savour of nihilism; 11. Ethical Principles: The Economist′s Quandary, which is the difficulty of balancing the claims of disinterested science and of the urge to better the human condition; 12. The Role of Government in the Advancement of Cultural Values, which discusses censorship and the funding of art against the background of the US Helms Amendment; 13. Man at the Crossroads draws earlier themes together; the author makes the case for rejecting determinism and the “operant conditioning” of the Skinner school in favour of the moral progress of autonomous man through adherence to traditional ethical values.

What causes the downward trend of real interest rates in major developed economies since the 1980s? What are the challenges of the near-zero interest and inflation rates for monetary policy? What can the policymakers learn from the latest developments in the monetary and interest rate theory? This paper aims to answer these questions by reviewing both basic principles of interest rate determination and recent academic and policy debates.

The paper critically reviews the explanations for the downward trend of real interest rates in recent decades and monetary policy options in a near-zero interest rate environment.

The decline of real interest rates is likely an outcome of multiple technological, social and economic factors including diminished productivity growth, changing demographics, elevated tail-risk concerns, time-varying convenience yields of safe assets, increased global demand for safe assets, rising wealth and income inequality, falling relative price of capital, accommodative monetary policies, and changes in industry structure that alter the investment and saving behaviors of the corporate sector. The near-zero interest rate limits the space of central banks' response to economic crises. It also challenges some conventional wisdoms of monetary theory and sparks radically new ideas about monetary policy.

This survey differs from the existing work by taking a broader view of both economics and finance literature. It critically assesses the economic forces driving the global decline of real interest rates through the lens of basic principles and empirical evidence and discusses the merits and limitations of each proposed explanation. The study emphasizes the importance of a better understanding of economic forces driving diverging trends of corporate investment and saving behaviors. It also discusses the implications of the neo-Fisherism and the fiscal theory of price level for monetary policy in a low interest rate environment.

In this paper, the authors examine the causes of 2021–2023 inflation and evaluate whether raising interest rates is the right solution.

The authors evaluate both the macroeconomic (too much demand) and microeconomic (monopoly pricing and supply chains) explanations for the causes of inflation.

The authors argue that the spike in inflation is due to disrupted supply chains and corporations taking advantage of the situation to raise their prices. The aggregate demand stimulus from fiscal policy had all but played out by the time inflation arose, making it an unlikely cause of said inflation.

The authors' paper demonstrates that raising interest rates is the wrong solution to tackling the problem of inflation, especially since it's coming from the supply side.

This paper aims to review the latest management developments across the globe and pinpoint practical implications from cutting-edge research and case studies.

This briefing is prepared by an independent writer who adds their own impartial comments and places the articles in context.

Developed markets have yet to return to pre-2008 crash levels of robust growth and stability. Emerging markets are back as the top priority, yet identifying the new BRIC nations is troublesome.

The briefing saves busy executives, strategists and researchers hours of reading time by selecting only the very best, most pertinent information and presenting it in a condensed and easy-to-digest format.

The author studies the role of safe assets accumulation in shaping the pattern of international capital flows.

The author combines a theoretical model and the empirical analysis. The model is a two-country open economy, while the evidence is based on a fixed-effect regression on a panel of 19 countries of the eurozone.

In an open two-country economy, a positive productivity shock raises both mean and variance of wealth accumulation rate, then, leading to a greater holding of safe assets for risk-sharing motivation. Upon financial integration, the shock can induce the outflows of net total capital. The evidence of 19 eurozone countries confirms the theory and also uncovers that the safe assets (bonds) are the dominant driver of cross-border capital flows within the eurozone.

The model can be extended to account for the impact of safe assets on the economic growth, then, analyzes the role of safe assets within financial globalization. Taking into account the impact of safe assets on the open-economy economic growth can be the next step to approach the issue.

The paper also provides important policy implication. Since a higher productivity level can raise the outflows of net total capital through the accumulation of foreign safe assets, an economy needs to increase its supply of safe asset along with upgrading its domestic productivity level. This combination is important for the long-run capital accumulation and economic growth of an economy with an increasing path of the productivity level.

The paper seeks a balance between theory and evidence on international capital flows. Moreover, the paper bridges the gap between the literature on international capital flows and the literature on safe assets. And the paper also focuses on the economies of the eurozone.

The purpose of this paper is to uncover the underlying drivers of sustained high performing companies based on a field study of 127 companies in Brazilian, Russian, Indian and Chinese (BRIC) and Association of Southeast Asian Nations (ASEAN) emerging markets. Understanding these companies provides a complementary way of appraising the growth, development and transformation of emerging markets. The authors synthesize the findings in an overarching framework that covers six strategies for building and sustaining legacy that leads to the succession of intergenerational wealth over time: overcoming institutional voids, inclusive markets, deepening localization, nurturing government support, building core competencies and harnessing human capital. The authors relate these strategies to different levels of development using Prahalad and Hart’s BOP framework.

This study examines the underlying drivers of sustained high-performance companies based on field studies from an initial set of 105,260 BRIC companies and close to 500 companies in ASEAN. The methods employed four screening tests to arrive at a selection of the highest-performing firms: 70 firms in the BRIC nations and 58 firms from ASEAN. Following the selection, the authors constructed cases using primary interviews and secondary data, with the assistance of Ernst & Young and with academic colleagues in Manila. These studies were originally conducted in two separate time periods and reported accordingly. This paper synthesizes the findings of these two studies to arrive at an extended integrative framework.

From the cases, the authors examine six strategies for building and sustaining legacy that lead to high performance over time: overcoming institutional voids, creating inclusive markets, deepening localization, nurturing government support, building core competencies and harnessing human capital. To address the evolving state of institutional voids in these countries, the authors employ similar methods to hypothesize the placement of these strategies in the context of the world economic pyramid, initially formulated as the “bottom of the pyramid” framework.

This paper synthesizes and extends the authors’ previous works by proposing the concept of legacy to describe the emergence and succession of local exemplary firms in emerging markets. This study aims to complement extant measures of nation-growth based primarily on GDP. The paper also extends the literature on institutional voids in shifting the focus from the mix of voids to their evolving state. Altogether, the paper provides a complementary narrative on assessing the market potential of emerging markets by adopting several categories of performance.