Equilibrium in Economic Development A Perspective of Social Capital

Syed Akhter Hussain Shah, Tariq Shah and Eatzaz Ahmad

MPRA Paper from University Library of Munich, Germany

Abstract: Each system owns different resources which need to be prioritized for bringing economic equilibrium in the society. This study identifies equilibrium in economic development and its relationship with social capital. Inter temporal accumulation of social capital of certain quantum takes place when cycle of economic activities is started at different levels of the systems; individuals, group, organization and State. In each system different combinations of resource allocation in spending and welfare activities leads to level game. A number of level games emerge from these resource combinations in the four systems. Markov process makes it possible to observe whether the systems reach their respective equilibrium positions. Therefore Markov process validates equilibrium of spending and welfare in respect of social capital for each system.

Keywords: Social capital (matrix); linear space; interactive systems; information flow; spending vector; vector of welfare indicator; social capital; markov process; equilibrium. (search for similar items in EconPapers)
JEL-codes: O10 (search for similar items in EconPapers)
Date: 2011
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (3)

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