World Library  
Flag as Inappropriate
Email this Article


Article Id: WHEBN0012332599
Reproduction Date:

Title: Prosperity  
Author: World Heritage Encyclopedia
Language: English
Subject: Innovation, WikiProject Wikislice/Economics, Business and economics/Selected quote/37, Economic history of China before 1912, Jiuntia
Collection: Economic Growth
Publisher: World Heritage Encyclopedia


Prosperity is the state of flourishing, thriving, good fortune and / or successful social status.[1] Prosperity often encompasses wealth but also includes others factors which can be independent of wealth to varying degrees, such as happiness and health.


  • Competing notions of prosperity 1
    • Debate under economic growth 1.1
  • Synergistic notions of prosperity 2
  • Ecological perspectives 3
  • References 4
  • External links 5

Competing notions of prosperity

Economic notions of prosperity often compete or interact negatively with health, happiness, or spiritual notions of prosperity. For example, longer hours of work might result in an increase in certain measures of economic prosperity, but at the expense of driving people away from their preferences for shorter work hours.[2] In Buddhism, prosperity is viewed with an emphasis on collectivism and spirituality. This perspective can be at odds with capitalistic notions of prosperity, due to their association with greed.[3] Data from social surveys show that an increase in income does not result in a lasting increase in happiness; one proposed explanation to this is due to hedonic adaptation and social comparison, and a failure to anticipate these factors, resulting in people not allocating enough energy to non-financial goals such as family life and health.[4]

Debate under economic growth

[6] The debate over whether economic growth is necessary for, or at odds with, human prosperity, has been active at least since the publication of Our Common Future in 1987, and has been pointed to as reflecting two opposing worldviews.[7] See How Persistent is Prosperity? (video) from Marginal Revolution University

Chicago's industrial entrepreneur, Victor Korzen, proposes "U-Turn to Prosperity" based on reversing government cash flow to consultants, money handlers, and administrators. As it happens in depression, the decline in the rate of profits results in a decline in business investment and higher unemployment. To reduce the impact of the decline, governments use to respond with Keynesian expansionary policies that are based on (pretty much Marxist) assumption that private sector decisions lead to inefficient macroeconomic outcomes which require active policy responses by the sway of misguided public sector bureaucrats, only to control production and manufacturing culture. It is the Great Depression thinking that results in government investment in infrastructure (like fixing existing railroad tracks, or patching holes) and creating growth opportunities only for servicing companies, consultants, and administrators of the funds. Vast majority of those servicing companies operate as no-profits, while whole investment from the government goes into ever-growing salaries of their administrators. Obviously, the skimpy, if any, taxable income generated by those companies does not even produce sufficient revenue for government to operate. Consequently, deficit is growing in parallel to influx of the funds into those companies. NO country can run deficits the size we are currently running, along with unfunded deficits over four times the size of the economy and a growing overall debt burden, without consequences. In spite, some in our government stubbornly and with great excitement announce those tax-exempted entities as “jobs created” and base accounting on their no-profits as if they would ever pay taxes. The Great Depression thinking, not the recession(!), has affected and brought long a major population center of 1.8 million people in Detroit to bankruptcy, while the semi-tax haven investments into INDUSTRY of 6.8 million residents of Switzerland has resulted in one of the highest per capita incomes in the world with low unemployment rates and a balanced budget. Only the above two examples clearly indicate that lack of unconditional and direct funds injection into both entrepreneurial/ manufacturing sector and start-up entities ends up with what I call “Economic Dead End” (see attached flowchart), more commonly known as bankruptcy. Economic Dead End not only blocks the cash flow that is naively expected by government to generate revenue, but also slows down and eventually stops production of everything, not mentioning the progress in technologies. Thinking about the Dead End blockade and well settled fiscal free fall associated with unprecedented growth of nonproductive consulting organizations, I have come to the idea of reversing the cash flow that would remove the Dead End blockade and allow servicing organizations to receive deposits and service fee payments from production sector rather, then from the government whose budget is almost exhausted. I call this concept the U-Turn to Prosperity. The concept of “U-Turn to Prosperity” would farther adopt provisions of Community Wealth Building promoted by Mr. Ted Howard, Executive Director of The Democracy Collaborative, and more significantly, the vision outlined in New Economics already taught by economists of the New Economics Institute at Massachusetts Institute of Technology (MIT), Dept. of Economics & Business Management at Warsaw University "Nawigatorzy Jutra", and UFANA (Ususry-Free Association of Islamic and Christian Groups formed in Canada ( to whom, all of them, I am grateful for inspiration, knowledge, and vision. New Economics have been designed with the purpose to support local (State) economy, communities, businesses, banking as social business, ecology, sustainability, new world without poverty, and paramountly helping those who have zeal and talent, but no money. Korzen's “U-Turn to Prosperity” concept has been developed as an element of the Social Business defined as a business in which profits and funds are reinvested in the production business itself, or used to start other social business with the aim of increasing social impact. , and I hope for governments to adopt it in order to make a U-turn from cash flow dead end to prosperity of us all. Although, it can not be implemented, utilized, transmitted or sold in whole or in part in any form, without the prior written consent of Victor Korzen. Copyright © 2013, KORZEN DESIGN All Rights Reserved.

Synergistic notions of prosperity

Many distinct notions of prosperity, such as economic prosperity, health, and happiness, are correlated or even have causal effects on each other. Economic prosperity and health are well-established to have a positive correlation, but the extent to which health has a causal effect on economic prosperity is unclear. There is evidence that happiness is a cause of good health, both directly through influencing behavior and the immune system, and indirectly through social relationships, work, and other factors.[8] One study which advances a holistic definition of prosperity is the Legatum Prosperity Index.

Ecological perspectives

In ecology, prosperity can refer to the extent to which a species flourishes under certain circumstances.[9][10]


  1. ^ "Definition of Prosperity". Random House, Inc. 09 & Webster's Revised Unabridged Dictionary. February 2009. Retrieved 1 July 2009. 
  2. ^ Cowling, Keith (July 2006). "Prosperity, Depression and Modern Capitalism". Kyklos 59 (3): 369–381.  
  3. ^ Gottlieb, Roger S. (2003). Liberating Faith. Rowman and Littlefield. p. .  
  4. ^ Easterlin, Roger A. (September 2003). "Explaining happiness". Proceeding of the National Academy of Science 100 (19): 11176–83.  
  5. ^ Kinsley, Michael J. (1997). "Sustainable development: Prosperity without growth". Rocky Mountain Institute. 
  6. ^ Kinsley, Michael J.; Lovins, L. Hunter. "Paying for Growth, Prospering from Development". Rocky Mountain Institute. 
  7. ^ Verstegen, S. W.; Hanekamp, J. C. (December 2005). "The sustainability debate: Idealism versus conformism—the controversy over economic growth". Globalizations 2 (3): 349–362.  
  8. ^ Argyle, Michael (December 1997). "Is happiness a cause of health?". Psychology & Health 12 (6): =769–781.  
  9. ^ Klimes, F.; Turek, F. (February 1984). "The prosperity and stability of clovers in intensive grassland at higher altitudes (Lathyrus pratensis, species composition, fertilization)". Plant ecology 30 (2): 177.  
  10. ^ Davis, J. S.; Lipkin, Y. (September 1986). Sciences "Lamprothamnium prosperity in permanently hypersaline water". Swiss Journal of Hydrology 48 (2): 240.  

External links

  • The Legatum Prosperity Index homepage
This article was sourced from Creative Commons Attribution-ShareAlike License; additional terms may apply. World Heritage Encyclopedia content is assembled from numerous content providers, Open Access Publishing, and in compliance with The Fair Access to Science and Technology Research Act (FASTR), Wikimedia Foundation, Inc., Public Library of Science, The Encyclopedia of Life, Open Book Publishers (OBP), PubMed, U.S. National Library of Medicine, National Center for Biotechnology Information, U.S. National Library of Medicine, National Institutes of Health (NIH), U.S. Department of Health & Human Services, and, which sources content from all federal, state, local, tribal, and territorial government publication portals (.gov, .mil, .edu). Funding for and content contributors is made possible from the U.S. Congress, E-Government Act of 2002.
Crowd sourced content that is contributed to World Heritage Encyclopedia is peer reviewed and edited by our editorial staff to ensure quality scholarly research articles.
By using this site, you agree to the Terms of Use and Privacy Policy. World Heritage Encyclopedia™ is a registered trademark of the World Public Library Association, a non-profit organization.

Copyright © World Library Foundation. All rights reserved. eBooks from World eBook Library are sponsored by the World Library Foundation,
a 501c(4) Member's Support Non-Profit Organization, and is NOT affiliated with any governmental agency or department.