1. Schumpeter's model of economic development assumes a stationary economy in equilibrium that is disrupted by innovations introduced by entrepreneurs.
2. Entrepreneurs obtain credit from banks to implement innovations in the form of new products or production methods, breaking the circular flow and generating profits.
3. Successful innovations are then adopted by other firms, creating secondary effects that lead to inflation, an economic boom, and eventual recession as the innovations diffuse fully through the economy.
In Macroeconomics Income and Employment are interchangeable terms, since in the short-run National income depends on the total volume of employment or economic activity in the country. As income and employment are synonymous the employment theory is also called income theory.
It should be clear to readers that the classical economists did not formulate any specific theory of employment as such. They only laid down certain postulates which subsequently developed as a theory.
The classical growth theory argues that economic growth will decrease or end because of an increasing population and limited resources Classical growth theory economists believed that temporary increases in real GDP per person would cause a population explosion that would consequently decrease real GDP.
Prof. Joan Robinson, criticised Neo Classical theory of capital and its concept of capital. Following in the Keynesian tradition, she extended Harrod's and Domar's growth models to include other variables that determine steady growth in a capitalist economy. However she states that the Golden Age is a myth, not achievable in reality.
In economics, the theory of the second best concerns the situation when one or more optimality conditions cannot be satisfied.
The economists Richard Lipsey and Kelvin Lancaster showed in 1956, that if one optimality condition in an economic model cannot be satisfied, it is possible that the next-best solution involves changing other variables away from the values that would otherwise be optimal.
Politically, the theory implies that if it is infeasible to remove a particular market distortion, introducing a second (or more) market distortion may partially counteract the first, and lead to a more efficient outcome.
In this presentation, OHE's Mestre-Ferrandiz summarizes what is known about innovation, both challenges and incentives, and applies this to efforts to encourage the development of new antibiotics.
In Macroeconomics Income and Employment are interchangeable terms, since in the short-run National income depends on the total volume of employment or economic activity in the country. As income and employment are synonymous the employment theory is also called income theory.
It should be clear to readers that the classical economists did not formulate any specific theory of employment as such. They only laid down certain postulates which subsequently developed as a theory.
The classical growth theory argues that economic growth will decrease or end because of an increasing population and limited resources Classical growth theory economists believed that temporary increases in real GDP per person would cause a population explosion that would consequently decrease real GDP.
Prof. Joan Robinson, criticised Neo Classical theory of capital and its concept of capital. Following in the Keynesian tradition, she extended Harrod's and Domar's growth models to include other variables that determine steady growth in a capitalist economy. However she states that the Golden Age is a myth, not achievable in reality.
In economics, the theory of the second best concerns the situation when one or more optimality conditions cannot be satisfied.
The economists Richard Lipsey and Kelvin Lancaster showed in 1956, that if one optimality condition in an economic model cannot be satisfied, it is possible that the next-best solution involves changing other variables away from the values that would otherwise be optimal.
Politically, the theory implies that if it is infeasible to remove a particular market distortion, introducing a second (or more) market distortion may partially counteract the first, and lead to a more efficient outcome.
In this presentation, OHE's Mestre-Ferrandiz summarizes what is known about innovation, both challenges and incentives, and applies this to efforts to encourage the development of new antibiotics.
Innovation used to be a big event in the life of an organization that spent most
of its time operating and harvesting. Accelerating obsolescence of products
pushes us to a new model where innovation becomes Business As Usual.
Suddenly change is the status quo, and creative ability to invent new sources of
value becomes table stakes for staying in the marketplace.
Reasons for failure of innovation; Economics of innovation; Importance of innovation management; Innovations strategies for a nation and an organization; Traits of innovative organizations; Types of innovative organizations; Management of innovation
Problem Solving PowerPoint Presentation Content slides include topics such as: teaching problem solving skills, evaluating how you solve problems, understanding the process: how to solve problems, 8 active listening techniques, primary issues for problem solvers, group or individual brainstorming, the problem solving framework, vertical and lateral thinking, adaptors and innovators as problem solvers, collaborative problem solving, leadership and creative work environments, four models of problem solving, SWOT, the 6 C's of decision making, how to's and much more.
Theories of entrepreneurship:
Innovation Theory by Schumpeter & Imitating,
Theory of High Achievement by McClelland,
X-Efficiency Theory by Leibenstein,
Theory of Profit by Knight, Theory of Social change by Everett Hagen.
Did we all around the globe sit down together and decide to follow Capitalism? Was Capitalism in the same form since beginning than now? In fact, it would be unrealistic to say that we decided to pick Capitalism. We just derived into it. And the concepts, forms and philosophy of Capitalism evolved over time.
.........................
Dr. Alan Greenspan, Lawrence
Summers from Harvard, Austan Goolgbee, US President’s Council of Economic Advisors are few of the thinks tanks attending the gathering (October 2011).
...................
How is then the New of Form of Capitalism going to shape like? If we recollect from the beginning paragraph, we notice, one of the major advantages of Capitalism was conceived to be “Less Control of Government over markets”. The New Capitalism is believed to start changing its current hue from this point.
............................
Why would Formative Capitalism would survive during recession and depressions? And why should we believe that to? The simplest reason is: because the performance of Formative Capitalists
isn’t just countercyclical, skyrocketing during the downturn and then collapsing.
Theories and models for Regional planning and developmentKamlesh Kumar
This is a work on the major theories of Regional planning mainly consisting the work of Francois Perroux, Gunnar Myrdal, Albert O. Hirschman, Walter Whitman Rostow and John Friedman.
This presentation describes the principles of Neo-Schumpeterian Economics and in three levels of analysis: Macro (Innovation driven growth), Meso (Industry dynamics) and Micro (Innovation and learning behavior). It also offers a comprehensive Neo-Schumpeterian approach as a theory with three pillars of Industry, Finance and Public Sector.
LF Energy Webinar: Electrical Grid Modelling and Simulation Through PowSyBl -...DanBrown980551
Do you want to learn how to model and simulate an electrical network from scratch in under an hour?
Then welcome to this PowSyBl workshop, hosted by Rte, the French Transmission System Operator (TSO)!
During the webinar, you will discover the PowSyBl ecosystem as well as handle and study an electrical network through an interactive Python notebook.
PowSyBl is an open source project hosted by LF Energy, which offers a comprehensive set of features for electrical grid modelling and simulation. Among other advanced features, PowSyBl provides:
- A fully editable and extendable library for grid component modelling;
- Visualization tools to display your network;
- Grid simulation tools, such as power flows, security analyses (with or without remedial actions) and sensitivity analyses;
The framework is mostly written in Java, with a Python binding so that Python developers can access PowSyBl functionalities as well.
What you will learn during the webinar:
- For beginners: discover PowSyBl's functionalities through a quick general presentation and the notebook, without needing any expert coding skills;
- For advanced developers: master the skills to efficiently apply PowSyBl functionalities to your real-world scenarios.
UiPath Test Automation using UiPath Test Suite series, part 4DianaGray10
Welcome to UiPath Test Automation using UiPath Test Suite series part 4. In this session, we will cover Test Manager overview along with SAP heatmap.
The UiPath Test Manager overview with SAP heatmap webinar offers a concise yet comprehensive exploration of the role of a Test Manager within SAP environments, coupled with the utilization of heatmaps for effective testing strategies.
Participants will gain insights into the responsibilities, challenges, and best practices associated with test management in SAP projects. Additionally, the webinar delves into the significance of heatmaps as a visual aid for identifying testing priorities, areas of risk, and resource allocation within SAP landscapes. Through this session, attendees can expect to enhance their understanding of test management principles while learning practical approaches to optimize testing processes in SAP environments using heatmap visualization techniques
What will you get from this session?
1. Insights into SAP testing best practices
2. Heatmap utilization for testing
3. Optimization of testing processes
4. Demo
Topics covered:
Execution from the test manager
Orchestrator execution result
Defect reporting
SAP heatmap example with demo
Speaker:
Deepak Rai, Automation Practice Lead, Boundaryless Group and UiPath MVP
The Art of the Pitch: WordPress Relationships and SalesLaura Byrne
Clients don’t know what they don’t know. What web solutions are right for them? How does WordPress come into the picture? How do you make sure you understand scope and timeline? What do you do if sometime changes?
All these questions and more will be explored as we talk about matching clients’ needs with what your agency offers without pulling teeth or pulling your hair out. Practical tips, and strategies for successful relationship building that leads to closing the deal.
Transcript: Selling digital books in 2024: Insights from industry leaders - T...BookNet Canada
The publishing industry has been selling digital audiobooks and ebooks for over a decade and has found its groove. What’s changed? What has stayed the same? Where do we go from here? Join a group of leading sales peers from across the industry for a conversation about the lessons learned since the popularization of digital books, best practices, digital book supply chain management, and more.
Link to video recording: https://bnctechforum.ca/sessions/selling-digital-books-in-2024-insights-from-industry-leaders/
Presented by BookNet Canada on May 28, 2024, with support from the Department of Canadian Heritage.
Kubernetes & AI - Beauty and the Beast !?! @KCD Istanbul 2024Tobias Schneck
As AI technology is pushing into IT I was wondering myself, as an “infrastructure container kubernetes guy”, how get this fancy AI technology get managed from an infrastructure operational view? Is it possible to apply our lovely cloud native principals as well? What benefit’s both technologies could bring to each other?
Let me take this questions and provide you a short journey through existing deployment models and use cases for AI software. On practical examples, we discuss what cloud/on-premise strategy we may need for applying it to our own infrastructure to get it to work from an enterprise perspective. I want to give an overview about infrastructure requirements and technologies, what could be beneficial or limiting your AI use cases in an enterprise environment. An interactive Demo will give you some insides, what approaches I got already working for real.
Slack (or Teams) Automation for Bonterra Impact Management (fka Social Soluti...Jeffrey Haguewood
Sidekick Solutions uses Bonterra Impact Management (fka Social Solutions Apricot) and automation solutions to integrate data for business workflows.
We believe integration and automation are essential to user experience and the promise of efficient work through technology. Automation is the critical ingredient to realizing that full vision. We develop integration products and services for Bonterra Case Management software to support the deployment of automations for a variety of use cases.
This video focuses on the notifications, alerts, and approval requests using Slack for Bonterra Impact Management. The solutions covered in this webinar can also be deployed for Microsoft Teams.
Interested in deploying notification automations for Bonterra Impact Management? Contact us at sales@sidekicksolutionsllc.com to discuss next steps.
Elevating Tactical DDD Patterns Through Object CalisthenicsDorra BARTAGUIZ
After immersing yourself in the blue book and its red counterpart, attending DDD-focused conferences, and applying tactical patterns, you're left with a crucial question: How do I ensure my design is effective? Tactical patterns within Domain-Driven Design (DDD) serve as guiding principles for creating clear and manageable domain models. However, achieving success with these patterns requires additional guidance. Interestingly, we've observed that a set of constraints initially designed for training purposes remarkably aligns with effective pattern implementation, offering a more ‘mechanical’ approach. Let's explore together how Object Calisthenics can elevate the design of your tactical DDD patterns, offering concrete help for those venturing into DDD for the first time!
Securing your Kubernetes cluster_ a step-by-step guide to success !KatiaHIMEUR1
Today, after several years of existence, an extremely active community and an ultra-dynamic ecosystem, Kubernetes has established itself as the de facto standard in container orchestration. Thanks to a wide range of managed services, it has never been so easy to set up a ready-to-use Kubernetes cluster.
However, this ease of use means that the subject of security in Kubernetes is often left for later, or even neglected. This exposes companies to significant risks.
In this talk, I'll show you step-by-step how to secure your Kubernetes cluster for greater peace of mind and reliability.
2. ECONOMIC DEVELOPMENT
Economic development is the development of economic wealth of countries or
regions for the well-being of their inhabitants.
Economic Growth & development are two different terms used in economics.
Generally speaking economic development refers to the problems of
underdeveloped countries and economic growth to those of developed
countries.
4. SCHUMPETER’S MODEL OF ECONOMIC DEVELOPMENT
Schumpeter assumes a perfectly competitive economy which is in stationary
equilibrium. In such a stationary state ,there is perfect competitive equilibrium.
no profits, no interest rates, no savings, no investments and no involuntary
unemployment. This equilibrium is characterized by the term “circular flow”,
continues to repeat itself every year. In the circular flow, the same products are
produced every year in same manner.
According to him economic development “is spontaneous and discontinuous
change in the channels of the circular flow, disturbance of equilibrium, which
forever alters and displaces the equilibrium state previously existing”
Development consists in the carrying out of new combinations for which
possibilities exist in the stationary state. New combinations come about in the
form of INNOVATIONS.
5. INNOVATIONS
An innovations may consist of:
1.The introduction of a new product
2.The introduction of new method of production
3.The opening up of a new market
4.The conquest of a new source of raw materials
5.The carrying out of a new organization of any industry like the
creation of monopoly
According to Schumpeter ,it is the introduction of new product and the
continual improvements in the existing ones that lead to development.
6. ROLE OF INNOVATOR
Schumpeter assigns the role of an innovator not to the capitalist but to the
entrepreneur. The entrepreneur is not a man of ordinary managerial ability, but
one who introduces something entirely new. The entrepreneur is motivated by:
a)The desire to find a private commercial kingdom
b)The will to conquer an prove his superiority
c)The joy of creating ,of getting things done ,or simply of exercising one’s
energy and ingenuity.
To perform his economic condition ,the entrepreneur requires two thing :
first ,the existence of technical knowledge in order to produce new ;
second, the power of disposal over the factors of production in the form
of credit.
7. ROLE OF PROFITS
An entrepreneur innovates to earn profits.
Profits are conceived “as a surplus over costs :a difference between the total
receipts and outlay –as a function of innovation
According to Schumpeter ,under competitive equilibrium the price of each
product just equals its cost of production and there no profits. Profits arise due
to dynamic changes resulting from an innovation. They continue to exist till the
innovation becomes general.
8. BREAKING THE CIRCULAR FLOW
Schumpeter’s model starts with the breaking up of the circular flow with an
innovation in the form of a new product by an entrepreneur for the purpose of
earning profit.
In order to break the circular flow ,the innovating entrepreneurs are financed by
bank-credit expansion.
Investment in innovation is risky, they must pay interest on it. Once the new
innovation becomes successful and profitable, other entrepreneurs follow it.
Innovations in one field may induce other innovations in related fields. The
emergence of motor car industry may in, in turn ,stimulate a wave of new
investments in the construction of highways ,rubber tyre etc.
9. The spread of innovation is shown in figure 1where the %of firms adopting a
particular innovation is shown the vertical axis.The curve OI shows that firms
adopt an innovation slowly to start with but soon the adoption of innovation
gains momentum. But it never reaches 100%adoption by firms.
10. CYCLICAL PROCESS
Investment is assumed to be financed by creation of bank credit.
It increases money incomes and prices and helps to create a cumulative expansion
throughout the economy.
With the increase in purchasing power of the customers, the demand for the
products of the old industries increases to the supply.
Price rise ,profit increase and old industries expand by borrowing from the banks. it
induces a secondary wave of credit ,inflation which is superimposed or the primary
wave of innovation
After a period the new products start appearing in the market displacing the old
products and enforcing process of liquidation and readjustment.
The demand for old product is decreased. Their price fall. some are even forced to
run into liquidation.
As though innovators start repaying bank loans out of profits, the quantity of money
is decreased and prices tends to fall. profit decline. Uncertainty &the impulse for
innovation is reduced.
Depression entered.
11.
12. PROCESS AT THE END OF CAPITALISM
Three forces are discernible, that are the beginning of the creeping death of
capitalism. They are ;
(1)The decadence of the entrepreneurial function
(2)The disintegration of bourgeoisie family; and
(3)The destruction of the institutional frame work of the capitalist
society.
Overruling over class-wage people
The tendency towards concentration into big concerns weakens and destroys the
twin institutions of private property and freedom of contract.
As a result of clashing of groups capitalism results crumbling and there is a
gradual movements towards socialism.
At the end capitalism would fade away.
13. CRITICISMS OF THEORY
1.The entire process of Schumpeter's theory is based on the innovator whom he
regards as an ideal person
2.economic development is the result of the cyclical process
3.Cyclical changes due to innovation is not correct
4.Schumpeter regards innovation as the main cause of economic development
5.Too much importance to bank -credit