Global Reset: The Role of Investment, Profitability, and Imperial Dynamics as Drivers of the Rise and Relative Decline of the United States, 1929–2019

A new world order is taking shape as a result of the relative decline of the United States (US) and other Western economies. An important aspect of relative decline is a progressive secular slowing down of productivity growth. Another is the way US development has been shaped and to some extent offset by international resource transfers. To explain these phenomena, attention is paid to the role of profitability as a driver of productivity and investment and global hegemony as a driver of international resource transfers. Particular attention is paid to an empirical analysis of the profitability of the US corporate non-financial sector and the existence of a secular decline in profitability since the mid-1960s interrupted only by the upward phases of a series of shorter-term economic cycles. Attention is also paid to the role of financial investments and some of the international resource transfers that have shaped, offset, and contained relative economic decline. An analysis of these trends frame and explain epochal changes in the dynamics and map of uneven and combined development and the likelihood of a global reset as the centre of world development shifts to Asia and the Eurasian continent. </p

The basic bundle gerbe on unitary groups

We consider the construction of the basic bundle gerbe on SU(n) introduced by Meinrenken and show that it extends to a range of groups with unitary actions on a Hilbert space including U(n), diagonal tori and the Banach Lie group of unitary operators differing from the identity by an element of a Schatten ideal. In all these cases we give an explicit connection and curving on the basic bundle gerbe and calculate the real Dixmier-Douady class. Extensive use is made of the holomorphic functional calculus for operators on a Hilbert space

Competition, competitiveness, and enterprise policies

In this chapter our aim is to examine the effects on cohesion of European Union competition and conlpetitiveness policies. More specifically, attention will be paid to three sets of measures: the rules of competition policy (Articles 85-94 of the EU Treaty); industrial competitiveness policies (Articles 3 and 130); and enterprise policies (Article 130). What these measures share is a concern to create a competitive environment and increase the competitiveness of European enterprises. To evaluate them, it is necessary to define competitiveness and explore its relation to cohesion.competition; competitiveness; cohesion; industrial policies

Rethinking of the relationship between agriculture and the “urban” economy in Beijing: an input-output approach

Despite the irresistible drive of urban growth, the questions as to whether and how agriculture is restructured and repositioned in relation to urban development have received little attention. Based on the method of hypothetical extraction from input-output tables, and on the Beijing case, this paper puts forward an approach to assess the dependence of the agro-economy on urban sectors. The research shows that in Beijing in the period from 1982 to 2007 the relationship between agriculture and the urban economy has gone through three phases. At the start of the economic reform, the relationship was weak, characterised by intensive inputs of agricultural productive materials and policy orders. What followed was a phase of disconnection characterised by fast urban growth and low competitive status of agriculture. The third was a period of increasingly integrated development with technological inputs and upgrading of the management of agriculture. The current strong relationship indicates that agriculture can be tuned to meet the preferences of urban consumers. Key associated urban sectors are screened out to verify this relationship. The approach is valuable for quantifying the structural relationship between agriculture and urban sectors, for further analysing rural-urban economic relationships to support development policy design and programming. First published online: 28 Jan 201

Improvement on the bound of Hermite matrix polynomials

In this paper, we introduce an improved bound on the 2-norm of Hermite matrix polynomials. As a consequence, this estimate enables us to present and prove a matrix version of the Riemann-Lebesgue lemma for Fourier transforms. Finally, our theoretical results are used to develop a novel procedure for the computation of matrix exponentials with a priori bounds. A numerical example for a test matrix is provided. © 2010 Elsevier Inc. All rights reserved.This work has been partially supported by the Universidad Politecnica de Valencia under project PAID-06-07/3283 and the Generalitat Valenciana under project GVPRE/2008/340.Defez Candel, E.; Tung, MM.; Sastre, J. (2011). Improvement on the bound of Hermite matrix polynomials. Linear algebra and its applications. 434(8):1910-1919. https://doi.org/10.1016/j.laa.2010.12.015S19101919434

Probabilistic representation for solutions of an irregular porous media type equation: the degenerate case

We consider a possibly degenerate porous media type equation over all of $\R^d$ with $d = 1$, with monotone discontinuous coefficients with linear growth and prove a probabilistic representation of its solution in terms of an associated microscopic diffusion. This equation is motivated by some singular behaviour arising in complex self-organized critical systems. The main idea consists in approximating the equation by equations with monotone non-degenerate coefficients and deriving some new analytical properties of the solution

Geographical interdependence, international trade and economic dynamics: the Chinese and German solar energy industries

The trajectories of the German and Chinese photovoltaic industries differ significantly yet are strongly interdependent. Germany has seen a rapid growth in market demand and a strong increase in production, especially in the less developed eastern half of the country. Chinese growth has been export driven. These contrasting trajectories reflect the roles of market creation, investment and credit and the drivers of innovation and competitiveness. Consequent differences in competiveness have generated major trade disputes