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The New Economic Society was formed in 1973 to promote the aims of the School of Economic Synthesis. Economic synthesis, since its early formation in the 1930s, has sought to integrate historical economics with social and neo‐classical economics. As the academic movement toward economic synthesis broadened, a more formal organisation became necessary. The New Economic Society (International School of Economic Synthesis) is an interdisciplinary association open to economists and others who are interested in developing a more social and humanistic economics, and a more realistic and scientific understanding of modern developed and less developed societies. The membership includes persons from numerous academic disciplines in many countries; formal chapters of the Society exist in the United Kingdom, Germany, India and Israel. At present, the membership is developing on an informal basis and no dues are requested. Membership information may be obtained from the following persons.

Chester Whitney Wright (1879–1966) received his A.B. in 1901, A.M. in 1902 and Ph.D. in 1906, all from Harvard University. After teaching at Cornell University during 1906–1907, he taught at the University of Chicago from 1907 to 1944. Wright was the author of Economic History of the United States (1941, 1949); editor of Economic Problems of War and Its Aftermath (1942), to which he contributed a chapter on economic lessons from previous wars, and other chapters were authored by John U. Nef (war and the early industrial revolution) and by Frank H. Knight (the war and the crisis of individualism); and co-editor of Materials for the Study of Elementary Economics (1913). Wright’s Wool-Growing and the Tariff received the David Ames Wells Prize for 1907–1908, and was volume 5 in the Harvard Economic Studies. I am indebted to Holly Flynn for assistance in preparing Wright’s biography and in tracking down incomplete references; to Marianne Johnson in preparing many tables and charts; and to F. Taylor Ostrander, as usual, for help in transcribing and proofreading.

This article provides a detailed investigation of how Lewis revisited classical and Marxian concepts such as productive/unproductive labor, economic surplus, subsistence wages, reserve army, and capital accumulation in his investigation of economic development. The Lewis 1954 development model is compared to other models advanced at the time by Harrod, Domar, Swan, Kaldor, Solow, von Neumann, Nurkse, Rosenstein-Rodan, Myint, and others. Lewis applied the notion of economic duality to open and closed economies.

The purpose of this paper is to provide a detailed comparison between Fiji and Mauritius and points out why Fiji which was better than Mauritius in the mid-1980s has fallen behind.

The paper uses recent literature on why countries fail economically and qualitative analysis and statistical evidence where necessary to compare the two countries.

During the first decade of independence, Fiji's economy grew at a rate of more than 5 per cent per annum. However, its economic prosperity was disrupted by the military coup in 1987. As a small island nation, Fiji's economic progress has been dismal and this can largely be attributed to the political instability created by the coups. Small island states like Mauritius has had uninterrupted growth rates in the same period and as a result has delivered significant improvement in the quality of life of its people.

Fiji could not become the Mauritius of the Pacific and points due to the lack of political stability and inclusive economic and political institutions.

Fiji could improve the quality of life of its people if it addresses the institutional constraint and it can learn from Mauritius.

Comparing Fiji, a small island nation like Mauritius and pointing out clear lessons not only for Fiji but also other small island nations in the Pacific.

This study investigates the correlation between economic development and scientific knowledge production indicators in the BRICS countries from 2000 to 2020, highlighting the importance of human resources, natural resources, and innovation. Addressing a gap in the existing literature, this study aims to contribute significantly to understanding this relationship.

Employing a descriptive statistical approach, this study utilizes GDP and per capita income as economic indicators and scientific data from WoS and SCOPUS databases, focusing on scientific document production and citations per document.

The analysis reveals a strong correlation between economic development and scientific performance within the BRICS nations during the specified period. It emphasizes the interdependence of economic progress and scientific prowess, underscoring that they cannot be considered independently.

However, limitations exist, notably the reliance on specific databases that might not cover the entire scientific output and the inability to capture all factors influencing economic and scientific development.

Understanding this interdependence has crucial originality. Policymakers and stakeholders in BRICS countries can leverage these insights to prioritize investments in human capital development and scientific research. This approach can foster sustainable economic growth by reducing reliance on natural resources.

This paper is an initial attempt to discuss the American institutionalist movement as it changed and developed after 1945. Institutionalism in the inter-war period was a relatively coherent movement held together by a set of general methodological, theoretical, and ideological commitments (Rutherford, 2011). Although institutionalism always had its critics, it came under increased attack in the 1940s, and faced challenges from Keynesian economics, a revived neoclassicism, econometrics, and from new methodological approaches derived from various versions of positivism. The institutionalist response to these criticisms, and particularly the criticism that institutionalism “lacked theory,” is to be found in a variety of attempts to redefine institutionalism in new theoretical or methodological terms. Perhaps the most important of these is to be found in Clarence Ayres’ The Theory of Economic Progress (1944), although there were many others. These developments were accompanied by a significant amount of debate, disagreement, and uncertainty over future directions. Some of this is reflected in the early history of The Association for Evolutionary Economics.

The purpose of this paper is to demonstrate the potential of the resource-infrastructure-environment (RIE) index as a supplementary tool to assist policy makers.

This study undertakes a sensitivity analysis (SA) to assess the responsiveness of the RIE index to potential policy actions on three countries: Australia (mid-industrialised nation), Mexico (emerging economy) and the USA (highly industrialised nation).

The results show that the RIE framework is capable of accommodating SA to guide the policymakers on the directional changes of the index to measurable changes to its component parts.

Although the initial results seem promising, further refinement of the indicator is required before it can be practically implemented. For instance, the RIE framework has yet to incorporate dimensions to represent distribution and effects of substitution.

The paper undertakes a SA to assess the responsiveness of the RIE index which is an alternative measure of progress for nations that has the capability to capture more aspects important to progress.

Existing attempts to assess national development and processes of democratization suffer from conceptual and measurement challenges. This paper proposes a comprehensive concept of democratic development and develops a more inclusive concept of democracy to provide a common set of categories to evaluate its depth and quality.

In order to measure the depth and health of democracy, democratic development incorporates four categories of human progress, each measured by multiple variables. The four categories deemed important for human progress are general development, democratic health, democratic inclusiveness, and human capital. Components of democratic development incorporate existing measures of political and economic development to create a comprehensive and accessible measure of democratic development.

The comparative tables based on multiple goals of development clearly reveal that neither the GDP index nor the HDI are adequate measures of development. Democratic development can be more fully captured by four perspectives: development, democratic inclusiveness, democratic health, and human capital, providing a framework to measure progress in reform, democracy, and development, from public agencies up to the national level. This concept incorporates aspects and orientations of the capabilities approach to create a concept that is amenable to use as a self‐assessment tool and as a basis for comparison of development, broadly conceived.

This inclusive concept is particularly well suited for analyzing citizen satisfaction and democratic stability.

Rather than focusing on singular measures, the approach presented here offers a balanced set of measures aimed at providing a comprehensive view of the gamut of democratic and economic development processes relative to existing models that is more appropriate for self‐assessment/planning purposes than traditional measures, which may be more appropriate for statistical modeling purposes.

The purpose of this chapter is to describe the economic development Chile has had in the last few years with main focus on economic growth, leaving behind social and environmental variables which could be classified as unsustainable development.

Statements, examples, and data are presented in order to support that the development Chile has experienced in the last years is not a sustainable development. Further, through interviews and focus groups across the nation, opinion leaders and citizens have been approached in order to assess their future vision of a sustainable country.

This chapter provides inputs for further decision making processes for public and private policies towards sustainable development in Chile.

The development of Chile is commonly assessed from an economic point of view without considering social or environmental variables which are as important as the economic parameters for realizing a real sustainable development. Thus this chapter adopts a triple-bottom line approach to argue that social and environmental issues should be considered simultaneously with economic progress.