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The emergence of the Chinese aid consensus has come to have profound implications for sustainability. The Beijing Consensus “sovereignty doctrine” of non‐interference, presents a stark contrast to the Washington Consensus architecture of imposed conditionalities and the serving of geopolitical interests. For this reason, from Africa's perspective, the Beijing Consensus appears to represent the preferred comprehensive meta‐narrative for Africa. The purpose of this paper is to discuss the attributes of “good” aid architecture in relation to the peculiarities of Africa's challenges.

In examining its principles, objectives, framework differences and impact, the Beijing model shows that it supports the human rights which “unleash”, empower and protect self‐directed development grounded in ownership and in the strategic interests of recipients.

The Washington Consensus has been problematic for African development because it is economistic and exclusively instrumentalist. While conceding to this shortcoming, the inability of the consensus to appreciate the unique and complex development problems of Africa is more troubling. Comparing the two, the Beijing Consensus, which is multidimensional and encompasses the intrinsic and non‐economic roles of development aid, with the consequence of over‐emphasizing expanding local policy, is adjudged practical for Africa. The conclusion is that the dominant Washington Consensus is too poorly articulated and structured to respond to declared determination for ownership, mitigating capabilities deprivation, and improving development control.

This paper has argued that the basic approach of the Beijing Consensus has been more generous and more attractive for sustainable development in Africa. Much more important, perhaps, is the ability of the consensus to appreciate the unique and complex development problems which occur as a consequence of donor deafness on limited rights and conditionalities. In sum, the Beijing Consensus results in exclusionary changes of “less magnitude and speed” and promotes poverty reduction and sustainable development. Taken together, these factors and practices mean that the Beijing Consensus best serves the staircase of a nation's pathway to indigenous development, when compared with the Washington Consensus. Such a comprehensive meta‐narrative that builds alliances and creates a foundation for enlightened and effective politics of development aid will “unleash”, empower and protect the full potential of Africa.

The purpose of this paper is to discover the contradistinctions between the neoclassical and Keynesian paradigms of economics regarding the Greek Financial Crisis.

The answers to the questions and policies regarding the Greek Financial Crisis cannot be derived by using economic analysis alone; they also depend on the perception of social reality and ethical issues. Based on the assumptions about economic behavior, the answers and policies inevitably reflect the observer's assessment of each economic and non-economic performance dimension, as well as the significance assigned to those performance dimensions. Different views on “social reality” and “what is a good society?” are associated with distinct paradigms and a particular set of social values, which have implications for economic policy formulae. These give rise to alternative answers and policies to the Greek Financial Crisis, based on different assumptions, different methods of analysis and different goals.

Overall, in contradistinction, the two paradigms recommend quite distinct policies tackling the Greek Financial Crisis, and at the end, both paradigms have different perspectives on ethics and moral fundamentals regarding debt.

Students of the global financial crisis will benefit from this unique approach in testing the two alternative paradigms, between the neoclassical and Keynesian, concerning the Greek Financial Crisis.

The purpose of this paper is to examine the effects of Russian institutional upheavals on industrial development.

The paper uses a longitudinal case study analysis of three Russian pharmaceutical firms exploring the role of state support in developing a self-sustained competitive innovation-dependent industry.

Russia’s shock therapy transition to a newly liberalised economy the 1990s without a supportive institutional framework led to severe setbacks in its modernisation process. A weak institutional context was not conducive to development of its fledgling organisations. In late 2000s, Russian Government initiated large-ranging institutional support in favour of strategic industries. This resulted in a shift from short-term profit-seeking arbitrage strategies to long-term investment strategies towards vertical integration, R&D and human resource development. Findings indicate countries that wish to forge competitive industries need to develop a strong supportive institutional mechanism that allows targeted industries to modernise and compete on a global scale. To ensure the effectiveness of execution of strategic policies, coherent communication channels and collaboration between the industry and the state is necessary.

While research on large emerging economies, such as China and India, is extensive, research on Russia and surrounding states is sparse. Most of the research on Russia is based around large resource-sector organisations. This study is novel in its uncovering various phases of development of an innovation-dependent industry.

The paper aims to assess to what extent the general trends with regard to world inequality can be explained by rising international economic integration, technological change and (labour market) institutions.

Based on the existing literature, the stylized facts on inequality between and within nations, globalisation and technological change are reviewed, after which the empirical evidence of the impact of international trade and poverty in developing countries is discussed.

The paper argues that despite substantial theoretical and empirical contributions, so far no straightforward conclusions are warranted. However, historical evidence suggests that, from a policy perspective, the rise in inequality – witnessed in a large number of developing as well as developed countries – ought to be acknowledged and tackled to avoid a possible backlash against globalisation. The inconclusiveness that empirical work on inequality and its determinants offers, might be explained by substantial differences across countries in their institutional framework.

The importance of interactions between institutions, technology and globalisation and their impact on world inequality is still not very well understood. The paper is an appeal for investigating more these interactions.

The purpose of this paper is to identify how the socio-economic trends caused by the economic deregulation of the last four decades have led to a high-net-worth strata of individuals and families that conspicuously consumes luxury items and are the main customers in the luxury yacht market.

A selected cross-section review and discussion of relevant publications and theories within the field of tourism, social sciences, business and economic history are synthesised with relevant data to outline the factors leading to socio-economic change and conspicuous consumption.

This paper advocates for the synthesis of scholarly techniques found within the discipline of Business History to illuminate the development of a luxury yachting industry over the past four decades. Using the varieties of capitalism approach this paper demonstrates that the local characteristics of the BRIC (Brazil, Russia, India and China) in combination with the international globalisation and trade deregulation since 1980 has led to a new super wealthy class that engages in conspicuous consumption. Using a schema based on critical juncture theory, light has been shed on the specific factors underpinning the demand for luxury yachts as part of this conspicuous consumption.

This paper adds a new set of methodologies and theoretical tools to the student of luxury tourism that embed the practice within the context of socio-economic changes brought forth by economic globalisation since 1979, opening up new avenues of research.

The purpose of this paper is to provide a framework for understanding and analysing business's role as a development actor, and the distinction between development tool and development agent.

The paper presents a theoretical analysis based on secondary data and empirical research.

Business has various roles to play in the social and economic development of poorer countries, but are all of them equally important and laudable? Mainstream economics has long held that the private sector is essential to economic prosperity, and this has led policy‐makers and neoliberal thinkers to treat it as a tool for development. But under what circumstances does business go beyond acting out its assigned role as a tool of development to become what this article calls a “development agent” – something that consciously strives to deliver, and moreover be held to account for, developmental outcomes?

The article presents a framework for a more structured approach to further empirical research, but does not claim to apply that framework in empirical situations.

Despite the considerable literature advocating why business should be a development agent, much less attention has been paid to two more fundamental questions: whether and under what circumstances business will take on such a role; and what being a development agent means. These are the central questions of this article. Answering them enables business practitioners, policy‐makers and academics to predict more accurately when business engagement is likely to deliver genuine development value and be sustainable, and hence when it is a worthwhile business, advocacy or policy objective. It also enables improved decision‐making by non‐private sector partners such as development agencies and NGOs.

The article addresses the above questions in turn with reference to empirical research by the author over nearly two decades, and both the corporate responsibility and the international development literature. It discusses what being a genuine development agent means, and provides a framework for understanding the business‐poverty relationship based on business as a cause, a victim, and a solution in international development terms. It concludes with a discussion of how well business is performing as a development agent, and the future potential and limitations of this role.

The socialist construction with Chinese characteristics must be based on history and reality. According to the requirements of liberation and development of productivity, efforts must be made to reform and improve the production relations, as well as continually consolidate the socialist system with Chinese characteristics. The purpose of this paper is to prove the necessity and superiority of a socialist system through China’s modernization achievements.

Marxist political economics is a critical legacy from classical economics. Its core question is also social production and distribution, which is epitomized in the labor theory of value and the theory of surplus value.

Regarding the significant principles that must be followed, these speeches summarized the logical system and prominent features of the socialist political system in the new normal from several significant and interrelated aspects such as basic methods, core propositions, main tasks and fundamental goals.

The socialist system with Chinese characteristics will gradually appear through further research and prove its superiority. How can a socialist system with Chinese characteristics innovate and develop? Does the system have a future? Is there any historical necessity for the socialist system to replace the capitalist system in human history? These are the questions that need urgent answers and in-depth exploration.

This paper analyses how economic effects driven by the process of globalization, such as those generated by the rise in international trade and in flows of foreign direct investment, have modified the local economy and in particular, job structures. The case of Mexico City is used in order to explore the effect of these economic activities on the labour markets of the manufacturing and service sectors.