Should the informal sector be regulated?

The informal sector plays a very important role in economic development in both complex and simple economies alike. Informality embodies the spirit of entrepreneurship and it is the way people ensure their livelihoods even when excluded from the informal sector (Allen). Development literature puts most emphasis on the establishment of democratic capitalism as the only path to economic development in low and middle-income countries. This research largely ignores the fact that some rich countries with high HDI still have a large informal sector that fuels the economy; such as it is the case of Italy (with 33%) and Sweden (15%) of their economic activity coming from the informal sector. … More Should the informal sector be regulated?

Urban Reducing risks in urban centres: think ‘local, local, local’

via Reducing risks in urban centres: think ‘local, local, local’ | International Institute for Environment and Development Urban centres can be among the world’s most healthy places to live and work – but many are among the least. How healthy they are is powerfully influenced by local government competence, local information, and support for local … More Urban Reducing risks in urban centres: think ‘local, local, local’

The antifragile economic model: formalizing the use of complementary currencies as a method to offset systemic risk

This paper explores the social implications of the postindustrial era and its effects in neoliberal economic models currently used in Western democracies. The changing nature of work (Landry, 2005), increases in global aging population, rapid environmental degradation and “the upcoming rise in consumer demand fueled by 1.7BN Chinese citizens that will be joining the middle class in the next decade” (Dobbs, 2015), underscore the urgent need to revise certain economic modeling assumptions in order to maintain the stability of democracies. The mathematical limitations imposed by technological innovation in the creation of wage based employment combined with a flawed framework of unlimited economic growth, point to an increased frequency in systemic risk and armed conflict as the future norm of the current socioeconomic system. Adapting institutional practices and economic frameworks to benefit from rapid change can help avoid further deterioration of established and emerging democracies and increase wealth creation in the short and long term. This paper will explore some of the existing challenges to creating a more efficient economic model adapted to support the digital economy, the construction of such a model, and outline the main institutional and monetary reforms that need to take place in order to enable this framework. … More The antifragile economic model: formalizing the use of complementary currencies as a method to offset systemic risk

Why Discards, Diverse Economies, and Degrowth? By Josh Lepawsky and Max Liboiron | Society and space

Why Discards, Diverse Economies, and Degrowth? Since the last economic recession in the mid 2000s, there has been a surge in scholarly conversations around fundamentally changing how economies work and what they value. For example, Figure 1 charts the number of English-language articles using the keyword “degrowth,” one of the most radical positions to the … More Why Discards, Diverse Economies, and Degrowth? By Josh Lepawsky and Max Liboiron | Society and space

Modern economics not keeping up with modern times

This paper challenges the notion of “modern economics” demonstrating that existing models are not sufficient to handle the next wave of global economic disruption that will be experienced during the next 40 years. Four examples are presented to illustrate the paradigm shifts in the making. Upcoming monumental challenges require reevaluating societal needs of the 21st century and approaching modeling from a fresh perspective. Technology has moved on, so should fundamental macroeconomic assumptions. … More Modern economics not keeping up with modern times

At what level does the culture of entitlement becomes morally wrong?

The term ‘entitlement’ is often used in political discourse to refer to welfare and social net ‘handouts’ that create debate among liberals, realists, socialists and postructuralists alike. These debates focus around the issue of fairness considering that some people work ‘harder’ than others. However, I would like to dissect this term from the definition that … More At what level does the culture of entitlement becomes morally wrong?