In recent years,Danyang in Jiangsu Province-one of China’s key eyewear manufacturing and distribution centers-has leveraged its“small glasses”to power a“big industry.”
Existing research has emphasized the environmental effects of the digital economy.However,the question of whether ecological wealth can stimulate digital economic growth remains unanswered.Using panel data from Chines...Existing research has emphasized the environmental effects of the digital economy.However,the question of whether ecological wealth can stimulate digital economic growth remains unanswered.Using panel data from Chinese cities spanning 2011-2022,this study empirically examines how urban ecological wealth affects digital economy development.The results reveal that ecological wealth significantly promotes digital economy growth,with stronger effects observed in coastal and highly urbanized cities.Mechanism analysis shows that ecological wealth advances digital economy development by fostering green technology innovation and enhancing human capital.Additional tests indicate a significant negative spatial spillover effect,suggesting that local ecological wealth may inhibit digital economy growth in neighboring areas.These findings offer valuable policy insights for strengthening ecological wealth accumulation and advancing digital economy development.展开更多
Several strategic metals, elements and energy resources are about to run into scarcity in the near future under the present paradigm of use. A global systems model has been developed （WORLD） to assess the issue of s...Several strategic metals, elements and energy resources are about to run into scarcity in the near future under the present paradigm of use. A global systems model has been developed （WORLD） to assess the issue of scarcity and its implications for society. We show that scarcity may lead to ＂peak wealth＂, ＂peak population＂, ＂peak waste＂ and ＂peak civilization＂, unless urgent counter-measures are systematically undertaken. Materials that underpin modern society may become unavailable for global mass production of goods. The material volumes that can be supplied from fossil reserves will be reduced with respect to today and resources will go up in price. The future resource supply is unsustainable without comprehensive recycling. The creation of wealth from conversion of resources and work, as well as the current extensive borrowing from the future, cause concerns that peaking energy and materials production may lead to ＂peak wealth＂ and the end of the golden age we live in. Our policy recommendations are that governments must take this issue seriously and must immediately start preparing legislations to close material cycles, optimize energy use and minimize irreversible material losses. Research efforts need to be based on systems thinking and a concerted effort is needed.展开更多
In this article, the authors consider the optimal portfolio on tracking the expected wealth process with liquidity constraints. The constrained optimal portfolio is first formulated as minimizing the cumulate variance...In this article, the authors consider the optimal portfolio on tracking the expected wealth process with liquidity constraints. The constrained optimal portfolio is first formulated as minimizing the cumulate variance between the wealth process and the expected wealth process. Then, the dynamic programming methodology is applied to reduce the whole problem to solving the Hamilton-Jacobi--Bellman equation coupled with the liquidity constraint, and the method of Lagrange multiplier is applied to handle the constraint. Finally, a numerical method is proposed to solve the constrained HJB equation and the constrained optimal strategy. Especially, the explicit solution to this optimal problem is derived when there is no liquidity constraint.展开更多
This paper describes a model in which a representative investor's preference depends on both the consumption history consumption and his wealth.Thus,the investor accumulates wealth not only for the sake of consump...This paper describes a model in which a representative investor's preference depends on both the consumption history consumption and his wealth.Thus,the investor accumulates wealth not only for the sake of consumption history but also for wealth.We examine the implication for consumption,portfolio choice.We solve the consumption portfolio choice problem and provide the optimal policy.The optimal solution to the problem shows that the preference for wealth and consumption formation will affect the investor's optimal portfolio policy.For the purpose of further research,we also calculate the steady-state distribution of habit-consumption ratio.展开更多
A non-Maxwellian collision kernel is employed to study the evolution of wealth distribution in a multi-agent society.The collision kernel divides agents into two different groups under certain conditions. Applying the...A non-Maxwellian collision kernel is employed to study the evolution of wealth distribution in a multi-agent society.The collision kernel divides agents into two different groups under certain conditions. Applying the kinetic theory of rarefied gases, we construct a two-group kinetic model for the evolution of wealth distribution. Under the continuous trading limit, the Fokker–Planck equation is derived and its steady-state solution is obtained. For the non-Maxwellian collision kernel, we find a suitable redistribution operator to match the taxation. Our results illustrate that taxation and redistribution have the property to change the Pareto index.展开更多
This paper aims, first of all, to examine the two fundamental treatments of the complex and very broad notion of chrematistikd （money-making） and its links with the notion of oikonomia （economics）, outlining a fun...This paper aims, first of all, to examine the two fundamental treatments of the complex and very broad notion of chrematistikd （money-making） and its links with the notion of oikonomia （economics）, outlining a fundamental division between natural and unnatural art of money-making. The two different arts of money-making are based on two very different psychological attitudes： in the first case, desire is channeled, managed, and organized by practical wisdom with a view to a further end; in the second case, desire is an end unto itself, insatiable, boundless and contrary to the commands of practical wisdom. Only in the first case there is a ＂true wealth＂, that is a wealth oriented toward a good life that constitutes the end （telos） and the limit （peras） of the wealth itself. The conclusion is that, for the Stagirite, wealth is not an evil, nor, in itself, is the pursuit of wealth, that is, the art of money-making, because if it is rightly organized and oriented in function of the end, it constitutes the conditio sine qua non of a life that is good, ordered and happy for the individual and for the city展开更多
Adam Smith has two principles: laissez faire and absolute advantage theory. This study has 3rd dimension forwealth of nations. It is intellectual capital. Because intellectual capitals increase GDP of nations, and cre...Adam Smith has two principles: laissez faire and absolute advantage theory. This study has 3rd dimension forwealth of nations. It is intellectual capital. Because intellectual capitals increase GDP of nations, and create wealthfor nations. ICs have accumulated knowledge, and ICs make innovations for company via this knowledge. Forexample, American economy has full of ICs, corporate CEOs. CEOs make country rich. CEOs are intellectualcapital. For example, Steve Jobs created smart phone, and Apple becomes no.1 in markets. Therefore, ICs(corporate CEOs) make a country richer. Intellectual capital is related with human resource management. Therefore,a country make investment to human resource management to create wealth of nations and intellectual capitals.展开更多
This paper is a theological reflection on the theology of wealth in Africa--its nature,philosophy,and sustaining factors.Through the methodology of theological reflections,the paper finds out that the theology of weal...This paper is a theological reflection on the theology of wealth in Africa--its nature,philosophy,and sustaining factors.Through the methodology of theological reflections,the paper finds out that the theology of wealth,though difficult to describe,is sustained on the African continent by economic hardship,the influence of some preachers of the theology of wealth,and the availability of improved facilities for disseminating the content of the theology of wealth.It also finds out that the entire philosophy of the theology of wealth is biblically,theologically,and ethically deficient.Biblically,it adapts parts of scripture to suit its teachings.Theologically,it puts forth viewpoints that are foreign to theological thought.Ethically,it is a means of exploiting congregants.The paper concludes with a recommendation that the content and nature of the theology of wealth must be highlighted and thoroughly explained to both clergy and membership of different denominations so that all will be safeguarded against the impact of this false gospel on their lives.展开更多
文摘In recent years,Danyang in Jiangsu Province-one of China’s key eyewear manufacturing and distribution centers-has leveraged its“small glasses”to power a“big industry.”
文摘Existing research has emphasized the environmental effects of the digital economy.However,the question of whether ecological wealth can stimulate digital economic growth remains unanswered.Using panel data from Chinese cities spanning 2011-2022,this study empirically examines how urban ecological wealth affects digital economy development.The results reveal that ecological wealth significantly promotes digital economy growth,with stronger effects observed in coastal and highly urbanized cities.Mechanism analysis shows that ecological wealth advances digital economy development by fostering green technology innovation and enhancing human capital.Additional tests indicate a significant negative spatial spillover effect,suggesting that local ecological wealth may inhibit digital economy growth in neighboring areas.These findings offer valuable policy insights for strengthening ecological wealth accumulation and advancing digital economy development.
文摘Several strategic metals, elements and energy resources are about to run into scarcity in the near future under the present paradigm of use. A global systems model has been developed （WORLD） to assess the issue of scarcity and its implications for society. We show that scarcity may lead to ＂peak wealth＂, ＂peak population＂, ＂peak waste＂ and ＂peak civilization＂, unless urgent counter-measures are systematically undertaken. Materials that underpin modern society may become unavailable for global mass production of goods. The material volumes that can be supplied from fossil reserves will be reduced with respect to today and resources will go up in price. The future resource supply is unsustainable without comprehensive recycling. The creation of wealth from conversion of resources and work, as well as the current extensive borrowing from the future, cause concerns that peaking energy and materials production may lead to ＂peak wealth＂ and the end of the golden age we live in. Our policy recommendations are that governments must take this issue seriously and must immediately start preparing legislations to close material cycles, optimize energy use and minimize irreversible material losses. Research efforts need to be based on systems thinking and a concerted effort is needed.
基金Supported in part by the National Natural ScienceFoundation of China (10671149)the Ministry of Education of China (NCET-04-0667)
文摘In this article, the authors consider the optimal portfolio on tracking the expected wealth process with liquidity constraints. The constrained optimal portfolio is first formulated as minimizing the cumulate variance between the wealth process and the expected wealth process. Then, the dynamic programming methodology is applied to reduce the whole problem to solving the Hamilton-Jacobi--Bellman equation coupled with the liquidity constraint, and the method of Lagrange multiplier is applied to handle the constraint. Finally, a numerical method is proposed to solve the constrained HJB equation and the constrained optimal strategy. Especially, the explicit solution to this optimal problem is derived when there is no liquidity constraint.
基金Supported by the Doctoral Programs Foundation of Ministry of Education of China(01JB630009)
文摘This paper describes a model in which a representative investor's preference depends on both the consumption history consumption and his wealth.Thus,the investor accumulates wealth not only for the sake of consumption history but also for wealth.We examine the implication for consumption,portfolio choice.We solve the consumption portfolio choice problem and provide the optimal policy.The optimal solution to the problem shows that the preference for wealth and consumption formation will affect the investor's optimal portfolio policy.For the purpose of further research,we also calculate the steady-state distribution of habit-consumption ratio.
基金Project supported by the National Natural Science Foundation of China(Grant No.11471263)the Natural Science Foundation of Xinjiang Uygur Autonomous Region,China(Grant No.2021D01B09)+1 种基金the Initial Research Foundation of Kashi University(Grant No.022024076)“Mathematics and Finance Research Centre Funding Project”,Dazhou Social Science Federation(Grant No.SCMF202305)。
文摘A non-Maxwellian collision kernel is employed to study the evolution of wealth distribution in a multi-agent society.The collision kernel divides agents into two different groups under certain conditions. Applying the kinetic theory of rarefied gases, we construct a two-group kinetic model for the evolution of wealth distribution. Under the continuous trading limit, the Fokker–Planck equation is derived and its steady-state solution is obtained. For the non-Maxwellian collision kernel, we find a suitable redistribution operator to match the taxation. Our results illustrate that taxation and redistribution have the property to change the Pareto index.
文摘This paper aims, first of all, to examine the two fundamental treatments of the complex and very broad notion of chrematistikd （money-making） and its links with the notion of oikonomia （economics）, outlining a fundamental division between natural and unnatural art of money-making. The two different arts of money-making are based on two very different psychological attitudes： in the first case, desire is channeled, managed, and organized by practical wisdom with a view to a further end; in the second case, desire is an end unto itself, insatiable, boundless and contrary to the commands of practical wisdom. Only in the first case there is a ＂true wealth＂, that is a wealth oriented toward a good life that constitutes the end （telos） and the limit （peras） of the wealth itself. The conclusion is that, for the Stagirite, wealth is not an evil, nor, in itself, is the pursuit of wealth, that is, the art of money-making, because if it is rightly organized and oriented in function of the end, it constitutes the conditio sine qua non of a life that is good, ordered and happy for the individual and for the city
文摘Adam Smith has two principles: laissez faire and absolute advantage theory. This study has 3rd dimension forwealth of nations. It is intellectual capital. Because intellectual capitals increase GDP of nations, and create wealthfor nations. ICs have accumulated knowledge, and ICs make innovations for company via this knowledge. Forexample, American economy has full of ICs, corporate CEOs. CEOs make country rich. CEOs are intellectualcapital. For example, Steve Jobs created smart phone, and Apple becomes no.1 in markets. Therefore, ICs(corporate CEOs) make a country richer. Intellectual capital is related with human resource management. Therefore,a country make investment to human resource management to create wealth of nations and intellectual capitals.
文摘This paper is a theological reflection on the theology of wealth in Africa--its nature,philosophy,and sustaining factors.Through the methodology of theological reflections,the paper finds out that the theology of wealth,though difficult to describe,is sustained on the African continent by economic hardship,the influence of some preachers of the theology of wealth,and the availability of improved facilities for disseminating the content of the theology of wealth.It also finds out that the entire philosophy of the theology of wealth is biblically,theologically,and ethically deficient.Biblically,it adapts parts of scripture to suit its teachings.Theologically,it puts forth viewpoints that are foreign to theological thought.Ethically,it is a means of exploiting congregants.The paper concludes with a recommendation that the content and nature of the theology of wealth must be highlighted and thoroughly explained to both clergy and membership of different denominations so that all will be safeguarded against the impact of this false gospel on their lives.
