Toward Balanced Growth

This book explains the relationships between equality and efficiency, as well as between government and market, in urban-rural and regional development by providing theoretical frameworks and empirical evidence. Urban-rural development in China is understood from a regional perspective, while the core issue of urban-rural and regional development is cross-regional resource reallocation driven by the trends of globalization, marketization and urbanization and their influence on growth and inequality. The book puts forward the following arguments: An urban-rural and regional balance should not be achieved by limiting agglomeration effects in eastern regions. For some time now, China has lacked a suitable mechanism to enable residents in underdeveloped and rural areas to share in the achievements of economic agglomeration. As a result, China should not slow down economic agglomeration and development in eastern regions simply by depending on administrative means to balance urban-rural and regional development. In the final analysis, arriving at a regional balance depends on growth in the eastern regions, provided a reasonable mechanism is implemented to enable inland areas to share in the development achievements of eastern regions. In turn, finding an urban-regional balance rests on urban development, as long as more rural workers can move to and prosper in cities.

What is balanced growth? This book shows that the definitions and implications of the concept of balanced growth vary significantly among the different disciplines in economic science, but are not exclusive at all. Terms such as sustainability or balanced growth have become buzzwords. In practice, they are often a desirable vision rather than an achievable objective. Why? Doubts may arise about the extent to which such concepts are compatible with a modern market economy. Is balanced growth possible at all? Is it reasonable to accept balanced growth as a norm? Why should a balanced growth path be a desirable strategy to pursue for policymakers, managers, employees, and other societal stakeholders? Empirical evidence suggests that the actual worldwide economic growth is not balanced at all. Meanwhile, ever since the beginning of the financial and economic crisis in 2007 and its accompanying spillover effects, our globalizing world has uncompromisingly shown the flip side of its coin. Its crisis-prone character has intensified the discussion about our economic system’s sustainability. Questions related to acceptable sovereign debt levels, suitable trade deficits and surpluses, firms’ growth targets, resource management and efficiency have aroused high interest. What is the cause of the observed imbalances? In our opinion, this debate must involve rethinking the qualitative and quantitative dimension of our present understanding of the nature of economic growth. This book accompanies the 9th DocNet Management Symposium of the University of St. Gallen, Switzerland. It contains contributions of the symposium's panel speakers, renowned authors to the field and young researchers. The Ph.D. students’ and post-doctoral association DocNet organizes the DocNet Management Symposium on a yearly basis with the goal to foster exchange between academia and practitioners.

What is balanced growth? This book shows that the definitions and implications of the concept of balanced growth vary significantly among the different disciplines in economic science, but are not exclusive at all. Terms such as sustainability or balanced growth have become buzzwords. In practice, they are often a desirable vision rather than an achievable objective. Why? Doubts may arise about the extent to which such concepts are compatible with a modern market economy. Is balanced growth possible at all? Is it reasonable to accept balanced growth as a norm? Why should a balanced growth path be a desirable strategy to pursue for policymakers, managers, employees, and other societal stakeholders? Empirical evidence suggests that the actual worldwide economic growth is not balanced at all. Meanwhile, ever since the beginning of the financial and economic crisis in 2007 and its accompanying spillover effects, our globalizing world has uncompromisingly shown the flip side of its coin. Its crisis-prone character has intensified the discussion about our economic system’s sustainability. Questions related to acceptable sovereign debt levels, suitable trade deficits and surpluses, firms’ growth targets, resource management and efficiency have aroused high interest. What is the cause of the observed imbalances? In our opinion, this debate must involve rethinking the qualitative and quantitative dimension of our present understanding of the nature of economic growth. This book accompanies the 9th DocNet Management Symposium of the University of St. Gallen, Switzerland. It contains contributions of the symposium's panel speakers, renowned authors to the field and young researchers. The Ph.D. students’ and post-doctoral association DocNet organizes the DocNet Management Symposium on a yearly basis with the goal to foster exchange between academia and practitioners.

What can prosperity possibly mean in a world of environmental and social limits? The publication of Prosperity without Growth was a landmark in the sustainability debate. Tim Jackson’s piercing challenge to conventional economics openly questioned the most highly prized goal of politicians and economists alike: the continued pursuit of exponential economic growth. Its findings provoked controversy, inspired debate and led to a new wave of research building on its arguments and conclusions. This substantially revised and re-written edition updates those arguments and considerably expands upon them. Jackson demonstrates that building a ‘post-growth’ economy is a precise, definable and meaningful task. Starting from clear first principles, he sets out the dimensions of that task: the nature of enterprise; the quality of our working lives; the structure of investment; and the role of the money supply. He shows how the economy of tomorrow may be transformed in ways that protect employment, facilitate social investment, reduce inequality and deliver both ecological and financial stability. Seven years after it was first published, Prosperity without Growth is no longer a radical narrative whispered by a marginal fringe, but an essential vision of social progress in a post-crisis world. Fulfilling that vision is simply the most urgent task of our times.

The book is a comprehensive study of the strategic position of Yangtze River Economic Belt in the political and economic development of China. It is a holistic and precise qualitative and quantitative delineation of Jiangsu’s position in this belt and its development strategy, and the strategic position of Yangtze River Economic Belt in national development. It also illustrates the great significance of the initiation of Yangtze River Economic Belt for the economy, politics, environment, and integration of natural resources. There is a research of the position of Jiangsu in the construction of the nation, and the difficulties it has encountered. Coordinated and balanced development of Yangtze River Economic Belt will effectively facilitate reasonable allocation and exploitation of various resources, the implementation of other national strategies, and communication and cooperation between China and Western countries, enhancing their mutual understanding. Therefore, common readers can get some general information from different perspectives, and professionals can have a detailed understanding of different arrangements and guiding principles. It is thus suitable for different readers.Yangtze River Economic Belt runs through the three regions of China, making a vital latitudinal axis, whose coordinated and balanced development is of great strategic importance for promoting coordinated and shared development of the three regions and for the spatial balance of population, economy and the environment. The current imbalance between them, the absolute disparity in regional development, the obstruction in the flow of resource factors, the inequality in development opportunities, the incoordination between regional economic growth and the bearing capacity of resources and environment, the fragmentation of regional economic policies, all contribute to the insufficient utilization of the Golden Waterway, problems numerous. How coordinated and balanced development can be realized within this economic belt is a prominent and pressing, even a severe problem.