Saving And Investment In The Twenty First Century
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Saving And Investment In The Twenty First Century
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Author : Carl Christian von Weizsäcker
language : en
Publisher: Springer
Release Date : 2022-07-01
Saving And Investment In The Twenty First Century written by Carl Christian von Weizsäcker and has been published by Springer this book supported file pdf, txt, epub, kindle and other format this book has been release on 2022-07-01 with Business & Economics categories.
The economy of the 21st century in the OECD countries and in China, is characterized by a new phenomenon: the structural surplus of private savings in relation to private investment. This is true even in a situation of prosperity and very low interest rates. On the one hand, this excess saving is due to people's increasing inclination to save in light of rising life expectancy, driven by the desire to have sufficient assets in old age. On the other hand, the demand for capital is not increasing to the same extent, so that investment is not keeping pace with the rising desire to save. The resulting gap between the private desire for wealth and private investment can only be closed by increasing public debt. This open access book offers a new, capital-theoretical perspective on the macroeconomic relationship between desired wealth and investment, and it presents new empirical data on private wealth and its composition in the OECD plus China area. The authors argue that a free economic and social order can only be stabilized if the wealth aspirations of individuals are met under conditions of price stability. This is not possible without substantial net public debt. A new way of thinking about the economy as a whole is required. By way of an in-depth theoretical and empirical analysis, the book demonstrates this new way of thinking and describes the current challenges facing economic policy. It will appeal to economists and students of economics who are interested in macroeconomic theory and its economic policy implications. An impressive, and convincing theoretical dive into the fundamentals behind secular stagnation, with very strong implications for actual debt policy. Public debt may be needed to improve welfare. - Olivier Blanchard, Senior Fellow at the Peterson Institute for International Economics and Professor of Economics Emeritus at Massachusetts Institute of Technology (MIT). Chief Economist at the International Monetary Fund from 2008 to 2015. Saving and Investment in the Twenty-First Century gives a wholly new perspective on macroeconomics. (...) Weizsäcker and Krämer describe a simple, practical solution to the underemployment that has plagued Southern Europe for more than a decade. - George Akerlof, Nobel Laureate in Economics, 2001. Professor at the McCourt School of Public Policy at Georgetown University and Professor of Economics Emeritus at the University of California, Berkeley. This is a profound and original contribution that can help us to understand and act on the great issues of our times. - Nicholas Stern, Grantham Research Institute on Climate Change and the Environment at the London School of Economics. Author of the Stern Review Report on the Economics of Climate Change. Chief Economist at the World Bank from 2000 to 2003.
Saving And Investment In The Twenty First Century
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Author : Carl Christian von Weizsäcker
language : en
Publisher: Springer Nature
Release Date : 2021-06-29
Saving And Investment In The Twenty First Century written by Carl Christian von Weizsäcker and has been published by Springer Nature this book supported file pdf, txt, epub, kindle and other format this book has been release on 2021-06-29 with Business & Economics categories.
The economy of the 21st century in the OECD countries and in China, is characterized by a new phenomenon: the structural surplus of private savings in relation to private investment. This is true even in a situation of prosperity and very low interest rates. On the one hand, this excess saving is due to people's increasing inclination to save in light of rising life expectancy, driven by the desire to have sufficient assets in old age. On the other hand, the demand for capital is not increasing to the same extent, so that investment is not keeping pace with the rising desire to save. The resulting gap between the private desire for wealth and private investment can only be closed by increasing public debt. This open access book offers a new, capital-theoretical perspective on the macroeconomic relationship between desired wealth and investment, and it presents new empirical data on private wealth and its composition in the OECD plus China area. The authors argue that a free economic and social order can only be stabilized if the wealth aspirations of individuals are met under conditions of price stability. This is not possible without substantial net public debt. A new way of thinking about the economy as a whole is required. By way of an in-depth theoretical and empirical analysis, the book demonstrates this new way of thinking and describes the current challenges facing economic policy. It will appeal to economists and students of economics who are interested in macroeconomic theory and its economic policy implications. An impressive, and convincing theoretical dive into the fundamentals behind secular stagnation, with very strong implications for actual debt policy. Public debt may be needed to improve welfare. - Olivier Blanchard, Senior Fellow at the Peterson Institute for International Economics and Professor of Economics Emeritus at Massachusetts Institute of Technology (MIT). Chief Economist at the International Monetary Fund from 2008 to 2015. Saving and Investment in the Twenty-First Century gives a wholly new perspective on macroeconomics. (...) Weizsäcker and Krämer describe a simple, practical solution to the underemployment that has plagued Southern Europe for more than a decade. - George Akerlof, Nobel Laureate in Economics, 2001. Professor at the McCourt School of Public Policy at Georgetown University and Professor of Economics Emeritus at the University of California, Berkeley. This is a profound and original contribution that can help us to understand and act on the great issues of our times. - Nicholas Stern, Grantham Research Institute on Climate Change and the Environment at the London School of Economics. Author of the Stern Review Report on the Economics of Climate Change. Chief Economist at the World Bank from 2000 to 2003.
21st Century Investing
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Author : William Burckart
language : en
Publisher: Berrett-Koehler Publishers
Release Date : 2021-04-13
21st Century Investing written by William Burckart and has been published by Berrett-Koehler Publishers this book supported file pdf, txt, epub, kindle and other format this book has been release on 2021-04-13 with Business & Economics categories.
Two experienced and visionary authors show how institutions and individuals can go beyond conventional and sustainable investing to address complex problems such as income inequality and climate change on a deep, systemic level. It's time for a new way to think about investing, one that can contend with the complex challenges we face in the 21st century. Investment today has evolved from the basic, conventional approach of the 1950s. Investors have since recognized the importance of sustainable investment and have begun considering environmental and social factors. Yet the complexity of the times forces us to recognize and transition to a third stage of investment practice: system-level investing. In this paradigm-shifting book, William Burckart and Steve Lydenberg show how system-level investors support and enhance the health and stability of the social, financial, and environmental systems on which they depend for long-term returns. They preserve and strengthen these fundamental systems while still generating competitive or otherwise acceptable performance. This book is for those investors who believe in that transition. They may be institutions, large or small, concerned about the long-term stability of the environment and society. They may be individual investors who want their children and grandchildren to inherit a just and sustainable world. Whoever they may be, Burckart and Lydenberg show them the what, why, and how of system-level investment in this book: what it means to manage system-level risks and rewards, why it is imperative to do so now, and how to integrate this new way of thinking into their current practice.
Capital In The Twenty First Century
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Author : Thomas Piketty
language : en
Publisher: Harvard University Press
Release Date : 2017-08-14
Capital In The Twenty First Century written by Thomas Piketty and has been published by Harvard University Press this book supported file pdf, txt, epub, kindle and other format this book has been release on 2017-08-14 with Business & Economics categories.
What are the grand dynamics that drive the accumulation and distribution of capital? Questions about the long-term evolution of inequality, the concentration of wealth, and the prospects for economic growth lie at the heart of political economy. But satisfactory answers have been hard to find for lack of adequate data and clear guiding theories. In this work the author analyzes a unique collection of data from twenty countries, ranging as far back as the eighteenth century, to uncover key economic and social patterns. His findings transform debate and set the agenda for the next generation of thought about wealth and inequality. He shows that modern economic growth and the diffusion of knowledge have allowed us to avoid inequalities on the apocalyptic scale predicted by Karl Marx. But we have not modified the deep structures of capital and inequality as much as we thought in the optimistic decades following World War II. The main driver of inequality--the tendency of returns on capital to exceed the rate of economic growth--today threatens to generate extreme inequalities that stir discontent and undermine democratic values if political action is not taken. But economic trends are not acts of God. Political action has curbed dangerous inequalities in the past, the author says, and may do so again. This original work reorients our understanding of economic history and confronts us with sobering lessons for today.
Sustainability In The Twenty First Century
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Author : Mohan Munasinghe
language : en
Publisher: Cambridge University Press
Release Date : 2019-05-23
Sustainability In The Twenty First Century written by Mohan Munasinghe and has been published by Cambridge University Press this book supported file pdf, txt, epub, kindle and other format this book has been release on 2019-05-23 with Business & Economics categories.
Provides a rigorous analysis of sustainable development that includes practical, policy-relevant, global case studies, explained concisely and clearly.
World Trade And Investment Law Reimagined
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Author : Alvaro Santos
language : en
Publisher: Anthem Press
Release Date : 2019-06-28
World Trade And Investment Law Reimagined written by Alvaro Santos and has been published by Anthem Press this book supported file pdf, txt, epub, kindle and other format this book has been release on 2019-06-28 with Law categories.
World trade and investment law is in crisis: new and progressive ideas are needed. Rules that facilitated globalization and supported global economic growth are being challenged. A system of global governance that once seemed secure is now at risk as the United States ignores the rules while developing countries struggle to escape restrictions. Some want to tear global institutions and agreements down while others try desperately to maintain the status quo. Rejecting both options, a group of trade and investment law experts from 10 countries, South and North, have joined hands to propose ideas for a new world trade and investment law that would maintain global growth while distributing costs and benefi ts more fairly. Paying special attention to those who have suffered from trade dislocation and to restrictions that have hampered innovative growth strategies in developing countries, they outline a progressive trade and investment law agenda in World Trade and Investment Law Reimagined.
Refreshing The Singapore System Recalibrating Socio Economic Policy For The 21st Century
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Author : Terence Wai Luen Ho
language : en
Publisher: World Scientific
Release Date : 2021-08-13
Refreshing The Singapore System Recalibrating Socio Economic Policy For The 21st Century written by Terence Wai Luen Ho and has been published by World Scientific this book supported file pdf, txt, epub, kindle and other format this book has been release on 2021-08-13 with Political Science categories.
Singapore's rapid ascent from Third World to First since its independence in 1965 has won it acclaim as an 'economic miracle'. Economic success has been accompanied by impressive achievements in social development, as reflected in international rankings of human capital and human development.The city state's achievements are founded on a socio-economic system characterised by low tax rates, flexible labour markets, and individual 'self-reliance', with state support centred on social investment in education and public housing.Entering the 21st century, however, slowing economic growth, an ageing population, global competition, and widening income dispersion have put the Singapore System under strain. This has prompted a significant refresh of social and economic policies over the past 15-20 years.This book aims to bring the reader up to date on Singapore's socio-economic development in the first two decades of the 21st century. It looks back to the shifts in policy thinking that have accompanied structural changes to Singapore's society and economy, taking stock of the policy innovations aimed at sustaining income growth, economic security, and social mobility. It looks around to compare Singapore's approach to those of other countries facing similar challenges, situating Singapore's experience in the wider international discourse on public policy. Finally, it looks ahead to how the Singapore System may evolve in the years to come.
Asia In The Twenty First Century
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Author : Paula K. Chow
language : en
Publisher: World Scientific
Release Date : 1997
Asia In The Twenty First Century written by Paula K. Chow and has been published by World Scientific this book supported file pdf, txt, epub, kindle and other format this book has been release on 1997 with Political Science categories.
Over 250 Princeton alumni and friends from 17 countries and from classes spanning a 66-year period attended the Conference. The presentations were of high quality, as can be seen from the proceedings. The speakers and other participants came from different national and cultural backgrounds and represented different points of view. For example, in discussing US-Asia relations James Baker represented an American viewpoint, while in the same session Yoshio Hatano represented a Japanese point of view, as did Toyoo Gyohten in a different session on economic issues. This valuable volume is a collection of frank and insightful essays on Asia-Pacific by notable Princetonians who are influential in the region.
Moving Beyond Modern Portfolio Theory
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Author : Jon Lukomnik
language : en
Publisher:
Release Date : 2021
Moving Beyond Modern Portfolio Theory written by Jon Lukomnik and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2021 with Investments categories.
Moving Beyond Modern Portfolio Theory: Investing That Matters tells the story of how Modern Portfolio Theory (MPT) revolutionized the investing world and the real economy, but is now showing its age. MPT has no mechanism to understand its impacts on the environmental, social and financial systems, nor any tools for investors to mitigate the havoc that systemic risks can wreck on their portfolios. It's time for MPT to evolve. The authors propose a new imperative to improve finance's ability to fulfil its twin main purposes: providing adequate returns to individuals and directing capital to where it is needed in the economy. They show how some of the largest investors in the world focus not on picking stocks, but on mitigating systemic risks, such as climate change and a lack of gender diversity, so as to improve the risk/return of the market as a whole, despite current theory saying that should be impossible. "Moving beyond MPT" recognizes the complex relations between investing and the systems on which capital markets rely, "Investing that matters" embraces MPT's focus on diversification and risk adjusted return, but understands them in the context of the real economy and the total return needs of investors. Whether an investor, an MBA student, a Finance Professor or a sustainability professional, Moving Beyond Modern Portfolio Theory: Investing That Matters is thought-provoking and relevant. Its bold critique shows how the real world already is moving beyond investing orthodoxy.
Savings And Investments
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Author : Meg Green
language : en
Publisher: The Rosen Publishing Group, Inc
Release Date : 2011-08-15
Savings And Investments written by Meg Green and has been published by The Rosen Publishing Group, Inc this book supported file pdf, txt, epub, kindle and other format this book has been release on 2011-08-15 with Juvenile Nonfiction categories.
Discusses the fundamentals of savings and investments, including the risks and rewards of investment, the different kinds of investment opportunities, and smart strategies for saving.