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Transformational economy. Applied governance and artificial intelligence - Dumitru Alexandru Bodislav
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Publisher: Editura Universitara
Author: Dumitru Alexandru Bodislav
Edition: I
Pages: 132
Publisher year: 2024
ISBN: 978-606-28-1767-1
DOI: 10.5682/9786062817671
Product Code:
9786062817671
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Transformational economics represents a significant departure from traditional economic thinking. This calls for a fundamental shift in priorities, away from the pursuit of growth at all costs, and towards a more balanced and sustainable approach. By adopting the principles of sustainability, inclusion, well-being, resilience and regenerative practices, societies can chart a path to a more equitable and environmentally friendly future. Implementing transformational economics requires collective action, but the rewards are profound: a world where prosperity is not measured by wealth alone, but by the health and happiness of individuals, communities and the planet as a whole, which is why this empowerment thesis aims to make the case for the evolution towards such an economy, sweeping between the evolution of incomes and economic growth (chapter 1 – Analysis of income inequality in the relationship between institutions and economic growth), new labor market, delocalized and the growth generated (chapter 2 – Telework – effect of the COVID pandemic 19 and economic growth model), the synergy generated from the use of principles found in corporate governance in relation to state development (chapter 3 – Synergy between corporate governance and the needs of the government of an emerging country) and the modeling of nations according to innovative governmental efficiency practices and the simulation economies to enrich the population and reduce the gaps between developed and emerging economies, using here also decision automation processes using Business Intelligence, Big Data and the informational accelerator that is increasingly present in everyday life, Artificial Intelligence (chapter 4 – Transformational macroeconomic mimicry – Resilience generated by simulating a national economy), and for the synergy of the conclusions, it was desired to generate a nexus of ideas summed up under the concept of transformational economy as a fundamental element for the next 30 years of the current total development, and the technological accelerator behind this new evolutionary engine being represented by the spread of Artificial Intelligence with the ultimate goal of leveling economic cyclicality and with the role of providing a new path for politics and ideology created for the XXI century, independent of the ideological values of the ephemeral past.
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Transformational economy. Applied governance and artificial intelligence - Dumitru Alexandru Bodislav
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FOREWORD / 7
INTRODUCTION / 9
CHAPTER 1. ANALYSIS OF INCOME INEQUALITY IN THE RELATIONSHIP BETWEEN INSTITUTIONS AND ECONOMIC GROWTH / 13
1.1. THE EFFICIENCY OF ASSESSING THE RELATIONSHIP BETWEEN INCOME AND INSTITUTIONAL SPECIFICITIES / 21
1.2. EXAMINATION OF THE RELATIONSHIP BETWEEN INCOME INEQUALITY AND ECONOMIC GROWTH AT THE LEVEL OF THE EUROPEAN UNION / 22
1.3. ANALYSIS METHODOLOGY OF INCOME INEQUALITY AND ECONOMIC GROWTH AT THE LEVEL OF THE EUROPEAN UNION / 26
CHAPTER 2. TELEWORK – EFFECT OF THE COVID 19 PANDEMIC AND ECONOMIC GROWTH MODEL / 30
2.1. THE EVOLUTION OF TELEWORK – ANALYSIS OF THE EFFECTS OF THE COVID 19 PANDEMIC ON THE ROMANIAN ECONOMY AND SOCIETY AT THE LEVEL OF THE EUROPEAN UNION / 30
2.1.1. Analysis of specialized literature in the field of telework and testing using data mining / 31
2.1.2. The ideas generated from the analysis of the acceleration of telework and the economy post COVID 19 / 38
2.2. THE ECONOMIC GROWTH MODEL BASED ON TELEWORK / 40
CHAPTER 3. SYNERGY BETWEEN CORPORATE GOVERNANCE AND THE GOVERNMENT NEEDS OF AN EMERGING COUNTRY / 46
3.1. "HEALTHY" LEVEL OF ECONOMIC GROWTH / 46
3.2. HOW TO DEVELOP A SUSTAINABLE ECONOMY USING A CORPORATE MODEL / 49
3.3. CREATION OF THE "PROBLEM SOLVER" MODEL / 51
CHAPTER 4. TRANSFORMATIONAL MACROECONOMIC MIMETISM - RESILIENCE GENERATED BY SIMULATING A NATIONAL ECONOMY / 58
4.1. SPECIALIST LITERATURE IN THE FIELD OF INVESTMENT FUNDS AND DECISION AUTOMATION / 60
4.2. EMPIRICAL ANALYSIS OF CLOSED INVESTMENT FUNDS / 66
4.3. ANALYSIS OF FINANCIAL DATA AND BUSINESS INTELLIGENCE USED IN THE BUSINESS-AUTOMATED DATA ECONOMY (B.A.D.E.M.) MODEL / 68
4.4. METHODOLOGY FOR THE DEVELOPMENT OF AN INNOVATIVE ECONOMIC MODEL – B.A.D.E.M. / 71
SYNERGY OF CONCLUSIONS – TRANSFORMATIONAL ECONOMY BASED ON ARTIFICIAL INTELLIGENCE IMPLEMENTED IN THE DECISION-MAKING PROCESS / 102
Predicting recessions and business cycles: the potential of AI to improve economic policy / 106
The future relationship between Artificial Intelligence and the evolution of politics and ideologies / 110
BIBLIOGRAPHY / 114
INTRODUCTION / 9
CHAPTER 1. ANALYSIS OF INCOME INEQUALITY IN THE RELATIONSHIP BETWEEN INSTITUTIONS AND ECONOMIC GROWTH / 13
1.1. THE EFFICIENCY OF ASSESSING THE RELATIONSHIP BETWEEN INCOME AND INSTITUTIONAL SPECIFICITIES / 21
1.2. EXAMINATION OF THE RELATIONSHIP BETWEEN INCOME INEQUALITY AND ECONOMIC GROWTH AT THE LEVEL OF THE EUROPEAN UNION / 22
1.3. ANALYSIS METHODOLOGY OF INCOME INEQUALITY AND ECONOMIC GROWTH AT THE LEVEL OF THE EUROPEAN UNION / 26
CHAPTER 2. TELEWORK – EFFECT OF THE COVID 19 PANDEMIC AND ECONOMIC GROWTH MODEL / 30
2.1. THE EVOLUTION OF TELEWORK – ANALYSIS OF THE EFFECTS OF THE COVID 19 PANDEMIC ON THE ROMANIAN ECONOMY AND SOCIETY AT THE LEVEL OF THE EUROPEAN UNION / 30
2.1.1. Analysis of specialized literature in the field of telework and testing using data mining / 31
2.1.2. The ideas generated from the analysis of the acceleration of telework and the economy post COVID 19 / 38
2.2. THE ECONOMIC GROWTH MODEL BASED ON TELEWORK / 40
CHAPTER 3. SYNERGY BETWEEN CORPORATE GOVERNANCE AND THE GOVERNMENT NEEDS OF AN EMERGING COUNTRY / 46
3.1. "HEALTHY" LEVEL OF ECONOMIC GROWTH / 46
3.2. HOW TO DEVELOP A SUSTAINABLE ECONOMY USING A CORPORATE MODEL / 49
3.3. CREATION OF THE "PROBLEM SOLVER" MODEL / 51
CHAPTER 4. TRANSFORMATIONAL MACROECONOMIC MIMETISM - RESILIENCE GENERATED BY SIMULATING A NATIONAL ECONOMY / 58
4.1. SPECIALIST LITERATURE IN THE FIELD OF INVESTMENT FUNDS AND DECISION AUTOMATION / 60
4.2. EMPIRICAL ANALYSIS OF CLOSED INVESTMENT FUNDS / 66
4.3. ANALYSIS OF FINANCIAL DATA AND BUSINESS INTELLIGENCE USED IN THE BUSINESS-AUTOMATED DATA ECONOMY (B.A.D.E.M.) MODEL / 68
4.4. METHODOLOGY FOR THE DEVELOPMENT OF AN INNOVATIVE ECONOMIC MODEL – B.A.D.E.M. / 71
SYNERGY OF CONCLUSIONS – TRANSFORMATIONAL ECONOMY BASED ON ARTIFICIAL INTELLIGENCE IMPLEMENTED IN THE DECISION-MAKING PROCESS / 102
Predicting recessions and business cycles: the potential of AI to improve economic policy / 106
The future relationship between Artificial Intelligence and the evolution of politics and ideologies / 110
BIBLIOGRAPHY / 114
The process of long-term change in a society's predominant economic activity, fueled by variables including structural change, productivity growth, and technological innovation, is known as transformational economics.
Among the key characteristics of the transformational economy are the following:
• It is irreversible and unidirectional, which means that once a society moves from one economic moment to another, it does not return to the previous one. For example, agriculture did not regain its dominance after the industrial revolution overtook it as the dominant sector;
• Along with this, four types of capital have evolved: natural, human, social and technological. These types of capital represent the assets that support economic growth and activity. According to transformational economics, these forms of capital fluctuate in importance and availability over time;
• It is affected by the global environment, which means that the interactions and rivalries between different nations and geographies determine the speed and course of change. For example, two important factors influencing the way economies change today are globalization and digitization;
• It has a substantial impact on well-being as it has an effect on social cohesion, income, employment, education and health of the population. Depending on how people and communities adapt to the changing environment, the transformational economy can present both new opportunities and problems.
This book provides an overview of the current state-of-the-art methods and uses of Artificial Intelligence approaches for rational decision-making under conditions of uncertainty, complexity, and risk.
A book about artificial intelligence and government decision-making can stimulate new research in economics, and in this case it is a support for providing examples and case studies of how artificial intelligence can solve real-world problems in different areas of economics, such as interstate conflict, credit scoring, cancer diagnosis, health monitoring, optical character/image processing and recognition, and helps introduce databases and the challenges of knowledge representation and reasoning, probabilistic reasoning, logical reasoning, and probabilistic reasoning. common sense for decision making. Showing how Artificial Intelligence can improve the analysis and design of economic models, policies and systems, such as game theory, mechanism design, social choice, behavioral economics and agent-based modeling is another complementary way forward.
Researchers, students, practitioners and policy makers who are interested in exploring the possibilities and constraints of artificial intelligence for sound economic decision-making can see the gross added value generated by this book on transformational economics from an AI and governance perspective, all filtered through the rigors of transparent markets, dedicated to the advancement of humanity which is in a new moment of exponential development.
February 2024
university professor Dr. Florina BRAN
Among the key characteristics of the transformational economy are the following:
• It is irreversible and unidirectional, which means that once a society moves from one economic moment to another, it does not return to the previous one. For example, agriculture did not regain its dominance after the industrial revolution overtook it as the dominant sector;
• Along with this, four types of capital have evolved: natural, human, social and technological. These types of capital represent the assets that support economic growth and activity. According to transformational economics, these forms of capital fluctuate in importance and availability over time;
• It is affected by the global environment, which means that the interactions and rivalries between different nations and geographies determine the speed and course of change. For example, two important factors influencing the way economies change today are globalization and digitization;
• It has a substantial impact on well-being as it has an effect on social cohesion, income, employment, education and health of the population. Depending on how people and communities adapt to the changing environment, the transformational economy can present both new opportunities and problems.
This book provides an overview of the current state-of-the-art methods and uses of Artificial Intelligence approaches for rational decision-making under conditions of uncertainty, complexity, and risk.
A book about artificial intelligence and government decision-making can stimulate new research in economics, and in this case it is a support for providing examples and case studies of how artificial intelligence can solve real-world problems in different areas of economics, such as interstate conflict, credit scoring, cancer diagnosis, health monitoring, optical character/image processing and recognition, and helps introduce databases and the challenges of knowledge representation and reasoning, probabilistic reasoning, logical reasoning, and probabilistic reasoning. common sense for decision making. Showing how Artificial Intelligence can improve the analysis and design of economic models, policies and systems, such as game theory, mechanism design, social choice, behavioral economics and agent-based modeling is another complementary way forward.
Researchers, students, practitioners and policy makers who are interested in exploring the possibilities and constraints of artificial intelligence for sound economic decision-making can see the gross added value generated by this book on transformational economics from an AI and governance perspective, all filtered through the rigors of transparent markets, dedicated to the advancement of humanity which is in a new moment of exponential development.
February 2024
university professor Dr. Florina BRAN
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