Editorial: development, knowledge and the Baconian age

Article Abstract:

The Baconian program of Sir Francis Bacon states that progress can only be achieved if man effectively and efficiently utilizes resources through the use of modern science. It also emphasized the importance of the application of a scientific methodology. Despite being designed in the late 16th century, the Baconian program continues to guide countries of the 20th century in their pursuit of advancement in science and technology. Lately, though, its basic premise is receiving numerous challenges because of changes in the conduction of scientific research.

Beliefs, opinions and attitudes, Technology and civilization, Technology and society, Science and state, Science policy, Bacon, Francis (English philosopher, 1561-1626)

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Editorial: the golden age of the Keynesian consensus - the pendulum swings back

Article Abstract:

The Keynesian Consensus was the dominant concept in the area of development thinking in the period after the Second World War. However, its reign came to an end in the early 1970s, when the Bretton Woods system of exchange rates collapsed in 1971 and, more importantly, when OPEC quadrupled the price of oil in 1973. However, there has been a movement away from the Washington Consensus in the 1990s. Increased inequalities between and within countries in globalization and free markets are the main developments during this era.

Keynesian economics

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Editorial: poverty - are there holes in the consensus?

Article Abstract:

The new consensus about poverty is defined as the absolute private consumption poverty (PCP), which is the private consumption per person falling below a poverty line. This poverty line may be established by either the food energy method or the purchasing-power parity method. The measurement and comparison of PCP in a group can be accomplished by tracking three numbers: incidence, intensity and severity of poverty.

Poverty, Consumption (Economics)

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