Value principles of the equilibrium economic development in the new global challenges

The paper reveals that the formation of the information society at the turn of the century with a focus on a network economy marked the beginning of the economic relations and laws system global modification. This modification is due primarily to the latest technological changes and innovations in information and communication. However, in its profound nature, it has a value character and is associated with the need for a thorough understanding of the new socio-economic picture of the world. The traditional interpretation of this situation does not meet public expectations about progressive, creative development possibilities. Public dissatisfaction with globalisation is growing. Phenomena of socio-economic instability (turbulence) and uncertainty undermine the civilisational foundations of the social economy, create several global challenges and threats. It is shown that an adequate guideline for successful management is to ensure balanced social development through the development of a holistic institutional architecture, which operates under the laws of effective economic equilibrium. Economic theory is designed to substantiate the laws of operation and the principles of building the institutional architecture of management. At the same time, modern economics remains traditional, while the correct answer to the global social demand must be given by relativistic economics, which can form the socio-economic foundations of the phenomenon of relativity. It is determined that the concept of the institute as a transformed form of economic value (economic good, the only one in the triple definition of marginal utility, value, and price) is an adequate basis for building relativistic economics, methodological source of creative knowledge and formation of the latest holistic picture of the world. It is noted that the tools of value economic analysis (in particular, the model of general economic equilibrium) were formed in the depths of classical political economy, but today it needs to be updated. It is established that the methodological restoration of economics as a valuable source of a positive relativistic understanding of the latest world picture is an essential agenda for further creative research to determine the principles of building an economy of trust forerunner of the institutional architecture. The basis of such an economy is a public sector model focusing on the market of public goods, which harmonises the system of public interests, processes of self-organisation and organisation in the economy, thus contributing to the formation of effective mechanisms for stabilising social development.

Macroeconomicheskay teoriy

In the textbook, for the first time, a comprehensive comparison of traditional macroeconomics with the theory of modern neo-ricardianism is carried out. A new model of the historical devel-opment of macroeconomic knowledge is presented, which makes it possible to more clearly iden-tify and more effectively solve its main problems. The existing models of economic equilibrium and growth are critically and constructively analyzed, the concepts of economic regulation based on the system of social parameters are considered. Recommended for undergraduates, postgraduates, university professors and researchers specializing in economics.

Application of Economic Equilibrium Principles in Power Purchase Agreement between PT PLN and Public Private Partnership

The purpose of this study was to analyze the implementation of cooperation between PT. PLN and private companies. The scope of his research is the provision of electricity infrastructure, which is one of the supporting sectors f or economic growth. The government is currently promoting this policy to meet the increasing demand for electricity. PT. PLN as a State Owned Enterprise (BUMN) is the implementer of government policies in terms of electricity that is still unable to meet the availability of electricity. Based on this, the government provides opportunities for the private sector to participate in the business of providing electricity for the public interest by utilizing Renewable Energy (EBT). The findings of this study are that electricity is generated through power plants owned by private companies and the result is that electricity is sold to PT. The research was carried out in a normative juridical manner with data obtained from electricity and tariff regulations, literature books and journals, public-private cooperation contracts. The results of this study are the application of the principle of economic equilibrium in the Power Purchase Agreement contract between the Government, namely PT PLN (Persero) and the private partnership.

An Economic Equilibrium Model for Optimizing Passenger Transport Corridor Mode Structure Based on Travel Surplus

Proper corridor configuration is the basic prerequisite for meeting demand to the maximum extent and optimally configuring transport resources. As the existing studies only pursue quantitative balance, without good understanding of the decision-making mechanism of passenger travel, they can hardly be used to guide effective infrastructure planning. The aim of this study was to put forward a new planning concept from the perspective of economics. Firstly, the decision-making mechanism of travel behavior was considered based on the demand subject, and the travel demand was classified. Next, the travel surplus of the demand subject was analyzed, and the travel decision-making criterion of maximizing the travel surplus was put forward. Then, a discrete economic equilibrium model for structural optimization of the passenger transport corridor was constructed and solved by the GlobalSearch algorithm. Finally, the effectiveness of the model and algorithm was verified through examples. The results indicate the good convergence of the algorithm. Different corridor travel demand, time value distribution and fixed cost of service mode all have great influence on the service mode configuration of the comprehensive transport passenger corridor and basically conform to the internal mechanism of supply and demand. The results show that the model and algorithm proposed in this paper are valid and can provide effective reference for the design and policy making of passenger transport corridor mode supply.

How modelling paradigms affect simulated future land use change

Land use models operating at regional to global scales are almost exclusively based on the single paradigm of economic optimisation. Models based on different paradigms are known to produce very different results, but these are not always equivalent or attributable to particular assumptions. In this study, we compare two pan-European integrated land use models that utilise the same climatic and socio-economic scenarios but which adopt fundamentally different modelling paradigms. One of these is a constrained optimising economic-equilibrium model, and the other is a stochastic agent-based model. We run both models for a range of scenario combinations and compare their projections of spatially aggregate and disaggregate land use changes and ecosystem service supply levels in food, forest and associated environmental systems. We find that the models produce very different results in some scenarios, with simulated food production varying by up to half of total demand and the extent of intensive agriculture varying by up to 25 % of the EU land area. The agent-based model projects more multifunctional and heterogeneous landscapes in most scenarios, providing a wider range of ecosystem services at landscape scales, as agents make individual, time-dependent decisions that reflect economic and non-economic motivations. This tendency also results in food shortages under certain scenario conditions. The optimisation model, in contrast, maintains food supply through intensification of agricultural production in the most profitable areas, sometimes at the expense of land abandonment in large parts of Europe. We relate the principal differences observed to underlying model assumptions and hypothesise that optimisation may be appropriate in scenarios that allow for coherent political and economic control of land systems, but not in scenarios in which economic and other scenario conditions prevent the changes in prices and responses required to approach economic equilibrium. In these circumstances, agent-based modelling allows explicit consideration of behavioural processes, but in doing so it provides a highly flexible account of land system development that is harder to link to underlying assumptions. We suggest that structured comparisons of parallel and transparent but paradigmatically distinct models are an important method for better understanding the potential scope and uncertainties of future land use change, particularly given the substantive differences that currently exist in the outcomes of such models.

A New Equilibrium? Economy and Society, 1375 to 1400

Historians have traditionally argued that the social and economic equilibrium of the post-plague period was finally established with the downturn in grain prices from the late 1370s and the softer policies of landlords after the revolt of 1381. Upon closer inspection, however, neither the economic nor the social trends were so straightforward. First, the economy experienced three distinct sub-periods and did not finally stabilize until the late 1390s. Second, the deteriorating economic conditions combined with changing attitudes to labour to fuel social conflict during the 1380s between certain types of landlords and their villein tenants and serfs. Tougher seigniorial attitudes are evident in the targeting of hereditary serfs on a few estates and in draconian revisions to the labour laws in 1388. This mini seigniorial reaction failed, however, and the bark of the new legislation proved worse than its bite. From the early 1390s the great landlords largely abandoned direct exploitation of their demesnes, running down their administrative structures and further releasing their grip upon their peasantry. The implications of all these changes by the 1390s for a possible golden age of the peasantry are discussed.