Economics for people, not for profit

Publication date: 14 Nov 2025:

This article explores the fundamental theories behind Sustained Economic Growth (SEG), particularly in the context of technological progress and Nobel-recognized research. The piece highlights the crucial contributions of economists like Joel Mokyr, Peter Klenow, and Chad Jones, whose work emphasizes innovation and technical change as the primary engines of long-term economic development.

The G-20 currently produces about three-quarters of global greenhouse gases while renewables meet only 14 % of its final-energy demand, raising doubts about whether conventional levers– carbon taxes, better governance and fossil-fuel phase-outs– work the same everywhere. Drawing on balanced annual data for 20 G-20 + EU economies from 2001 to 2020 (400 observations), this study deploys cross-sectionally augmented unit-root tests followed by Machado–Santos-Silva panel quantile regression to track how environmental-tax effort, World-Bank regulatory quality scores and the fossil share of electricity influence renewable-energy consumption across the entire distribution of adopters. The evidence is distinctly asymmetric. A one-percentage-point rise in green-tax revenue lifts the renewable share by only 2.1 percentage points at the 10th quantile but by 4.6 points at the 90th, revealing a fourfold gain for leaders. Fossil dependence exerts the opposite pull, its negative effect deepening from –0.08 to –0.36 points as countries climb the adoption ladder, signalling a robust lock-in constraint. Regulatory quality on its own shows diminishing returns, yet when interacted with taxation it turns significantly positive above the median, confirming that good institutions magnify, rather than replace, price signals. Model fit strengthens toward the upper tail (pseudo-R² rises from 0.18 to 0.41), underscoring the need for distribution-aware policy analysis. The findings imply that tiered or self-escalating carbon prices, coupled with transparent revenue recycling and targeted fossil-subsidy withdrawal, can accelerate renewable uptake far more effectively than flat rates or governance reforms alone, offering a nuanced roadmap for decarbonising the heterogeneous G-20 bloc.

https://doi.org/10.15826/jtr.2025.11.3.217

https://doi.org/10.1108/IJSE-03-2024-0232

http://dx.doi.org/10.25175/jrd%2F2022%2Fv41%2Fi1%2F172466

The paper studies the impact of demonetisation that was announced in the year 2016 on the rural population of Kutch district of Gujarat state. Rural areas in India, with about 38 per cent of bank branches in August 2016 (RBI 2017) and 69 per cent of the population (Census 2011), it will be critical to experience demonetisation. In this context, the study examines the hypothesis that the segment of the population which could easily access banking facilities and shift to cashless transaction might have had to bear the lower cost of demonetisation than those who could not. Both supply and demand side of the status of financial inclusion is considered. Although the study did not find any significant difference in the cost of exchange or impact on consumption and income between the inclusive group and excluded group, it implicitly brings out the challenges of financial inclusion in the rural economy.
see research