- Volume 11, Number 1 (2023)
IN THE FOOTSTEPS OF TOOKE: TRACING THE EVOLUTION OF 19TH CENTURY MONETARY IDEAS AND POLICIES
Prof. Serdar Ahmetoglu
This paper examines the contributions of Thomas Tooke to 19th century England’s monetary theory and policy discussions. Tooke was a prominent economist who formulated his own ideas on money and prices, which became the basis of the Banking School position. The paper provides an overview of his economic writings, focusing on his second period, and discusses Tooke's ideas on credit money, endogeneity of the money supply, interest rate, monetary transmission mechanism, balance of payments adjustments, and free banking. Tooke's central point was that the amount of money in circulation was endogenously determined by the demand for money, and that the...
THE EQUATOR'S EDGE: ANALYZING ECONOMIC IMPLICATIONS AMIDST THE TROPICAL CLIMATE CONUNDRUM
Melanie Anne Simmons
Historically, economists have overlooked the influence of geographical factors on economic development, yet early scholars like Montesquieu and Huntington recognized the potential correlation between climate and prosperity. This study delves into the specific aspects of climate, particularly temperature and rainfall, to explore their impact on productivity and per capita income variation among nations. Drawing from prior research in economics and ecology, we aim to identify the key climate attributes that underpin this connection. Pioneering works in this field, such as Kamarck (1973) and the economic historian Landes (1998), laid the foundation for investigating the interplay between geography, climate, and economics....
GREENING PROGRESS: A CLOSER LOOK AT THE INTERPLAY BETWEEN ECONOMIC TRANSITION, ENERGY CONSUMPTION, AND CARBON EMISSIONS IN CENTRAL ASIA
Jian Hong Wang
The transition from centrally planned economies to market-based systems in Central Asian countries during the 1990s had profound environmental implications. In 2021, these nations, including Kazakhstan, Kyrgyzstan, Tajikistan, Turkmenistan, and Uzbekistan, marked the 30th anniversary of their independence from the Soviet Union. This transition brought about significant political, social, and economic changes but also resulted in environmental challenges. This study investigates the environmental consequences of Central Asia's shift from a command-based economy to a market-oriented one. Despite a notable decrease in carbon emissions since 1990, the region still contributes approximately 15 percent of global greenhouse gas emissions. The main drivers...