Values at the core : how human values contribute to the rise of nations / Thomas Grandjean, ChinHwee Tan.

Format:

Book

Author/Creator:

Grandjean, Thomas, author.

Tan, ChinHwee, author.

Contributor:

John Lammey Stewart Memorial Library Fund.

Language:

English

Subjects (All):

Economic development.

Economic policy.

Social policy.

Equality.

Values--Social aspects.

Values.

Physical Description:

xxiv, 197 pages ; 24 cm

Place of Publication:

Singapore ; Hackensack, NJ : World Scientific Publishing Co. Pte. Ltd., [2021]

Summary:

"Throughout the history of mankind, the rise of societies, whether civilizations, nations, or communities, has been a story of human achievement. From the rise of the Akkadian empire in ancient Mesopotamia to the re-emergence of modern China, people constitute the basic denominator upon which societies build their success. The way people around the world think and behave is guided by a complex system of values. These values constitute key factors in the way economies are structured and their potential for further growth. To a large extent, they explain why Japan has gone through multiple lost decades; why Nordic countries accept the highest tax rates in the world, making their societies much more equal; why China has such a large trade surplus with the United States; or why some nations become stuck in a middle-income trap. It is these values, coupled with the right policies, that ultimately determine the economic destiny of nations. In this book, we explore how the combination of human values and policies affects national economic outcomes. We focus on certain key values conducive to growth: are people of a given nation, on average, hardworking, thrifty? Do they trust each other? Are they risk-takers? The harder people work, the higher the growth potential. Different savings patterns determine, to a large extent, whether a country will grow through investments and exports or consumption, and have generated large global imbalances over time. Trust goes a long way in explaining wealth and income inequalities and the role that governments can play in minimizing those inequalities. Economies with highly risk-averse citizens will stall. We also identify policies which have the greatest impact on economies. Political stability, much more so than any form of governance, is a precondition for growth. Free markets imply a process of creative destruction, free and fair competition, and a level playing field among companies. An educated workforce is a vital enabler of higher productivity and innovation. Corruption can seriously derail growth once it becomes endemic. Sound fiscal and monetary policies stabilize an economy as it goes through cycles and can greatly contribute to a more equal society and a more robust financial sector"-- Provided by publisher.

Contents:

Machine generated contents note: pt. I Values

ch. 1 Hard Work

ch. 2 Thrift

ch. 3 Trust

ch. 4 Risk-Taking

pt. II Policies

ch. 5 Political Stability

ch. 6 Free Markets

ch. 7 Education

ch. 8 Corruption

ch. 9 Fiscal Policy

ch. 10 Monetary Policy.

Notes:

Includes bibliographical references.

Local Notes:

Acquired for the Penn Libraries with assistance from the John Lammey Stewart Memorial Library Fund.

ISBN:

9789811228520

9811228523

9789811230387

9811230382

OCLC:

1194958978

Publisher Number:

99987949007