Get 20M+ Full-Text Papers For Less Than $1.50/day. Start a 14-Day Trial for You or Your Team.

Learn More →

Wellbeing EconomicsMarket Participation and Economic Capital

Wellbeing Economics: Market Participation and Economic Capital [The market economy supports human wellbeing. This chapter offers evidence for this observation, while recognising that markets need rules, customs and institutions to work well. A key market institution is the firm, which combines different types of capital to maintain specialist capabilities for supplying goods and services valued by their customers. This expands the potential for wellbeing, but a large number of jobs pay less than the real living wage, with a strong gender bias, which diminishes wellbeing. The chapter analyses economic capital, comprised of physical capital and financial capital. Growth in economic capital has increased material living standards for billions of people, but recent economic development is also associated with cumulative environmental damage, episodes of financial instability and greater concentration of wealth.] http://www.deepdyve.com/assets/images/DeepDyve-Logo-lg.png

Wellbeing EconomicsMarket Participation and Economic Capital

Download PDF
19 pages

Loading next page...
 
/lp/springer-journals/wellbeing-economics-market-participation-and-economic-capital-hm0pYxHowX
Publisher
Springer International Publishing
Copyright
© The Editor(s) (if applicable) and The Author(s) 2018. This book is an open access publication
ISBN
978-3-319-93193-7
Pages
89 –108
DOI
10.1007/978-3-319-93194-4_5
Publisher site
See Chapter on Publisher Site

Abstract

[The market economy supports human wellbeing. This chapter offers evidence for this observation, while recognising that markets need rules, customs and institutions to work well. A key market institution is the firm, which combines different types of capital to maintain specialist capabilities for supplying goods and services valued by their customers. This expands the potential for wellbeing, but a large number of jobs pay less than the real living wage, with a strong gender bias, which diminishes wellbeing. The chapter analyses economic capital, comprised of physical capital and financial capital. Growth in economic capital has increased material living standards for billions of people, but recent economic development is also associated with cumulative environmental damage, episodes of financial instability and greater concentration of wealth.]

Published: Sep 12, 2018

Keywords: Economic capital; Market strength; Capability theory of the firm; Unemployment; Living wage

There are no references for this article.