Growth and the relativity of satisfaction
نویسنده
چکیده
We extend Ramsey’s model to be in accordance with the facts that self-reported levels of satisfaction are almost unrelated to economic prosperity, both across countries and across time. We assume that things are judged by the extent to which they depart from social norms. Norms are based on the past experience of agents. A special case is when norms are built on the basis of the best previous experience. Agents do not internalize their own effect on social norms and the competitive equilibrium is sub-optimal. The dynamics display oscillations and a slow speed of adjustment or path dependency. An optimal solution can be decentralized by a planner by means of capital taxation along the adjustment path. Finally, fiscal policy is shown to display substantial transitory effects. 1998 Elsevier Science B.V. All rights reserved.
منابع مشابه
Bulk Viscous Bianchi Type VI0 Cosmological Model in the Self-creation Theory of Gravitation and in the General Theory of Relativity
In the second self-creation theory of gravitation and in the general theory of relativity, Bianchi type VI0 cosmological model in the presence of viscous fluid is studied. An exact solution of the field equations is given by considering the cosmological model yields a constant decelerations parameter q=constant and the coefficients of the metric are taken as A(t)=[c1t+c<su...
متن کاملEinstein structures on four-dimensional nutral Lie groups
When Einstein was thinking about the theory of general relativity based on the elimination of especial relativity constraints (especially the geometric relationship of space and time), he understood the first limitation of especial relativity is ignoring changes over time. Because in especial relativity, only the curvature of the space was considered. Therefore, tensor calculations should be to...
متن کاملThe Principle of Relativity: From Ungar’s Gyrolanguage for Physics to Weaving Computation in Mathematics
This paper extends the scope of algebraic computation based on a non standard $times$ to the more basic case of a non standard $+$, where standard means associative and commutative. Two physically meaningful examples of a non standard $+$ are provided by the observation of motion in Special Relativity, from either outside (3D) or inside (2D or more), We revisit the ``gyro''-theory ...
متن کاملCultural Relativity of Moral Precepts
The foundation of most intellectual discourse is Western-centric to the exclusion of other views. This includes ideal patterns of social interaction, preference for aesthetic, accepted norms and values, and the concepts of dignity, respectability, morality and ethics. Such a position is culturally myopic. Western cultural influence colors all of them including moral precepts. The assumption is ...
متن کاملمقایسه اهداف تعلیم و تربیت ازدیدگاه ایدهآلیسم و پراگماتیسم
Since familiarity with the educational goals of different philosophical schools and their comparison to one another may help acquiring knowledge and development of critical mentality and attitude toward educational strategies and planning, it deserves careful consideration. This paper is a documentary study of the educational goals from two different viewpoints, that is, Idealism and pragmatism...
متن کاملThe Role of Moral Values in the Workplace Spirituality’ Growth and Employees’ Work Attitudes
Background: Organizations slowly from Small environment Social and economic activities of small medium enterprises to gradually soon, to become places of spiritual development. The purpose of this paper is the survey of impact of spirituality as a component of moral values on burnout and turnover intentions of employees in religious organizations based mediation role of job satisfaction. Method...
متن کامل