Optimum Saving and Growth: Harrod on Dynamic Welfare Economics

In the 1960s and 1970s Harrod shifted the emphasis of his research in economic dynamics from the study of business cycles (instability principle) to the investigation of the growth process. As part of that, he restated his concept of the natural growth rate as an optimum welfare rate. The present paper examines Harrod's dynamic welfare economics, built around his concept of optimum saving developed as a reaction to Ramsey's approach to capital accumulation. It is shown that, according to Harrod, the saving rate does not affect the long-run growth rate of per capita income, which is determined by technical progress. Moreover, the economy will grow at the natural (full employment) rate only if economic policy is able to bring saving to its "optimum" level in macroeconomic equilibrium. Harrod's interest in optimal growth was motivated by his double concern with growth policy in mature economies and economic development in poor countries

Microsoft Word - EPRI_Cover.html

Standard-Nutzungsbedingungen: Die Dokumente auf EconStor dürfen zu eigenen wissenschaftlichen Zwecken und zum Privatgebrauch gespeichert und kopiert werden. Sie dürfen die Dokumente nicht für öffentliche oder kommerzielle Zwecke vervielfältigen, öffentlich ausstellen, öffentlich zugänglich machen, vertreiben oder anderweitig nutzen. Sofern die Verfasser die Dokumente unter Open-Content-Lizenzen (insbesondere CC-Lizenzen) zur Verfügung gestellt haben sollten, gelten abweichend von diesen Nutzungsbedingungen die in der dort genannten Lizenz gewährten Nutzungsrechte. Terms of use: Documents in Abstract: The monetary economy has properties that cannot be analyzed using the tools of today's dynamic general equilibrium analysis. Keynes's economics, far from being an aberration in the otherwise orderly evolution of modern macroeconomics from Adam Smith's ideas about the "invisible hand", was a major contribution to an ongoing tradition in monetary theory in whose creation Smith himself had played a part. Retrospective consideration of this tradition suggests that the property of the monetary economy critical to the generation of economic crises and the stagnation that follows them is its capacity to permit trading at "false" prices, a phenomenon ruled out by assumption in dynamic general equilibrium models. Not only Keynes's explanation of depression but also Hayek and Robertson's analysis of the role of unsustainable forced saving in the boom can be thought of as relying on this factor

A 100-day mentoring program leads to positive shifts in girls’ perceptions and attitudes towards biomechanics and related STEM disciplines

The gender gap in STEM (Science, Technology, Engineering, and Mathematics) is among the widest across education and professional fields, with an underrepresentation of girls and women, particularly in engineering and biomechanics. This issue begins early in education and worsens as females progress into more senior roles. To address this gap, we designed and implemented the Biomechanics Research and Innovation Challenge (BRInC), a 100-day STEM program focused on mentoring and role modelling to engage high school girls and early-career biomechanists at key phases where they most commonly disengage in STEM. We evaluated the influence of the program on (i) identity and perceptions towards science, engineering, and biomechanics; (ii) attitudes towards biomechanics, maths and science; and (iii) attitudes towards gender bias, education and career aspirations in STEM, within high school girls following participation in the BRInC program. We observed significant and positive shifts in girls’ perceptions of both biomechanics and engineering. Participation in the program appeared to lead to favourable shifts in attitudes towards biomechanics, maths, and science and fostered a positive influence on girls’ education and career aspirations, igniting an interest in future research opportunities. Innovative STEM engagement programs, such as BRInC, highlight the promising potential of targeted and bespoke approaches to address the underrepresentation of females in biomechanics and STEM-related education and careers. Future programs should strive to enhance socioeconomic and cultural diversity, employ whole of life-cycle approaches by offering programs for girls and women at various phases of the STEM pathway, and prioritize impact assessments to effectively monitor progress.</p

The Biomechanics Research and Innovation Challenge: Development, Implementation, Uptake, and Reflections on the Inaugural Program

Biomechanics as a discipline is ideally placed to increase awareness and participation of girls and women in science, technology, engineering, and mathematics. A nationwide Biomechanics and Research Innovation Challenge (BRInC) centered on mentoring and role modeling was developed to engage high school girls (mentees) and early-mid-career women (mentors) in the field of biomechanics through the completion of a 100-day research and/or innovation project. This manuscript describes the development, implementation, and uptake of the inaugural BRInC program and synthesizes the research and innovation projects undertaken, providing a framework for adoption of this program within the global biomechanics community. Eighty-seven high school girls in years 9 and 10 (age range: 14–16 y) were mentored in teams (n = 17) by women in biomechanics (n = 24). Using a design thinking approach, teams generated solutions to biomechanics-based problem(s)/research question(s). Eight key reflections on program strengths, as well as areas for improvement and planned changes for future iterations of the BRInC program, are outlined. These key reflections highlight the innovation, impact, and scalability of the program; the importance of a program framework and effective communication tools; and implementation of strategies to sustain the program as well as the importance of diversity and building a sense of community.</p