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Merit goods Demerit goods. Damaged goods Composite goods Intangible goods. Croft Intangible Intellectual indigenous Personal Tangible immovable real. Bundle of rights Commodity fictitious commodities Common good economics Common ownership Excludability First possession appropriation Homestead principle Free-rider problem Game theory Georgism Gift economy Labor theory of property Law of rent rent-seeking Legal plunder Natural rights Ownership common customary self state Property rights primogeniture usufruct women's Right to property Rivalry Tragedy of the commons anticommons.

Acequia watercourse Ejido agrarian land Forest types Huerta Inheritance Land tenure Property law alienation easement restraint on alienation real estate title. David Ricardo Murray N. Property Property law by country. Retrieved from " https: Webarchive template wayback links Articles needing additional references from May All articles needing additional references. Views Read Edit View history. This page was last edited on 7 December , at Steady-state consumption is the difference between output and depreciation. If actual capital stock is less than the Golden Rule level, an increase in capital stock raises output faster than depreciation.

As a result consumption rises. On the other hand, if the actual capital stock exceeds the Golden Rule level, an increase in the capital stock reduces consumption. The reason for this is that the increase in output is smaller than the increase in depreciation. At the Golden Rule level of capital, the production function and the line of depreciation have the same slope, this implies that consumption is at the highest possible level.

Golden Rule

The Golden Rule level of capital is characterised by a simple condition. The amount of extra depreciation due to the increase in the stock of capital is 8. This condition can be used by a policy-maker for finding out the capital stock for an economy which maximises the level of consumption, i. It is very easy to derive the Golden Rule. Thus we get the Golden Rule condition of the Solow growth model. It may be noted that an economy does not automatically move toward the ideal situation, that is, the Golden Rule steady state. For attaining any particular steady-state capital stock adequate saving must be generated.

If the actual saving rate exceeds the rate s g shown in Fig. In contrast, if the saving rate is lower than s g the steady-state capital stock will be inadequate. In either case, steady-state consumption level will be less than it is at the Golden Rule steady state. Any change in the.

So there are two ways of finding out the Golden Rule steady state — looking at steady- state consumption or looking the MPK, Both the methods yield the same result. So the routes are different but the destination is the same. Since estimates of MPK are readily available the second method is more convenient for finding out whether an economy is currently at, above, or below its Golden Rule capital stock.

But information estimates about steady-state consumption at alternative savings rate is are not readily available. This is why the first method is not normally used for practical purposes. Since saving is so important for the growth process, we may consider the impact of changes in saving propensity on the growth rate. Love him with all your strength and with all your mind. The passage in the book of Luke then continues with Jesus answering the question, "Who is my neighbor? Jesus' teaching goes beyond the negative formulation of not doing what one would not like done to themselves, to the positive formulation of actively doing good to another that, if the situations were reversed, one would desire that the other would do for them.

This formulation, as indicated in the parable of the Good Samaritan, emphasizes the needs for positive action that brings benefit to another, not simply restraining oneself from negative activities that hurt another. In one passage of the New Testament , Paul the Apostle refers to the golden rule:. The Arabian peninsula was known to not practice the golden rule prior to the advent of Islam. Fakir al-Din al-Razi and several other Qur'anic commentators have pointed out that Qur'an Similar examples of the golden rule are found in the hadith of the prophet Muhammad.

The hadith recount what the prophet is believed to have said and done, and traditionally Muslims regard the hadith as second to only the Qur'an as a guide to correct belief and action. From the hadith , the collected oral and written accounts of Muhammad and his teachings during his lifetime:. A Bedouin came to the prophet, grabbed the stirrup of his camel and said: O the messenger of God!

The capital stock gradually falls, leading to fall in output, consumption and investment. He is faithful to the faithful; he is also faithful to the unfaithful: It is the earliest written version of that concept in a positive form. Jacob Neusner, Bruce Chilton Hrsg. The obvious way is to ask them, but this cannot be done if one assumes they have not reached a particular and relevant understanding. This is known as the transitional dynamics of the Solow model. It does not presume to do anything unto others, but merely to avoid doing what would be harmful.

Teach me something to go to heaven with it. Now let the stirrup go! That which you want for yourself, seek for mankind.

Common good (economics) - Wikipedia

The most righteous person is the one who consents for other people what he consents for himself, and who dislikes for them what he dislikes for himself. O' my child, make yourself the measure for dealings between you and others. Thus, you should desire for others what you desire for yourself and hate for others what you hate for yourself. Do not oppress as you do not like to be oppressed. Do good to others as you would like good to be done to you. Regard bad for yourself whatever you regard bad for others.

Accept that treatment from others which you would like others to accept from you Do not say to others what you do not like to be said to you. Deny not My servant should he ask anything from thee, for his face is My face; be then abashed before Me.

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And if thine eyes be turned towards justice, choose thou for thy neighbour that which thou choosest for thyself. Ascribe not to any soul that which thou wouldst not have ascribed to thee, and say not that which thou doest not. This, in brief, is the rule of dharma. Other behavior is due to selfish desires. By making dharma your main focus, treat others as you treat yourself [48].

Golden Rule savings rate

If the entire Dharma can be said in a few words, then it is—that which is unfavorable to us, do not do that to others. Buddha Siddhartha Gautama, c. It occurs in many places and in many forms throughout the Tripitaka. Comparing oneself to others in such terms as "Just as I am so are they, just as they are so am I," he should neither kill nor cause others to kill. One who, while himself seeking happiness, oppresses with violence other beings who also desire happiness, will not attain happiness hereafter. Putting oneself in the place of another, one should not kill nor cause another to kill.

The Golden Rule is paramount in the Jainist philosophy and can be seen in the doctrines of Ahimsa and Karma. As part of the prohibition of causing any living beings to suffer, Jainism forbids inflicting upon others what is harmful to oneself. The following quotation from the Acaranga Sutra sums up the philosophy of Jainism:. Nothing which breathes, which exists, which lives, or which has essence or potential of life, should be destroyed or ruled over, or subjugated, or harmed, or denied of its essence or potential. In support of this Truth, I ask you a question — "Is sorrow or pain desirable to you?

If you say, "No, It is not" you will be expressing the truth. Just as sorrow or pain is not desirable to you, so it is to all which breathe, exist, live or have any essence of life. To you and all, it is undesirable, and painful, and repugnant. In happiness and suffering, in joy and grief, we should regard all creatures as we regard our own self. Saman Suttam of Jinendra Varni [53] gives further insight into this precept: Just as pain is not agreeable to you, it is so with others.

Knowing this principle of equality treat other with respect and compassion. Killing a living being is killing one's own self; showing compassion to a living being is showing compassion to oneself. He who desires his own good, should avoid causing any harm to a living being. Precious like jewels are the minds of all.

To hurt them is not at all good. If thou desirest thy Beloved, then hurt thou not anyone's heart. The same idea is also presented in V. The phraseology differs from the Christian version of the Golden Rule.

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It does not presume to do anything unto others, but merely to avoid doing what would be harmful. It does not preclude doing good deeds and taking moral positions, but there is slim possibility for a Confucian missionary outlook, such as one can justify with the Christian Golden Rule. The sage has no interest of his own, but takes the interests of the people as his own. He is kind to the kind; he is also kind to the unkind: He is faithful to the faithful; he is also faithful to the unfaithful: For one would do for others as one would do for oneself.

And so if states and cities do not attack one another and families do not wreak havoc upon and steal from one another, would this be a harm to the world or a benefit? Of course one must say it is a benefit to the world. Mozi regarded the golden rule as a corollary to the cardinal virtue of impartiality, and encouraged egalitarianism and selflessness in relationships. Here ye these words and heed them well, the words of Dea, thy Mother Goddess , "I command thee thus, O children of the Earth, that that which ye deem harmful unto thyself, the very same shall ye be forbidden from doing unto another, for violence and hatred give rise to the same.

My command is thus, that ye shall return all violence and hatred with peacefulness and love, for my Law is love unto all things. Only through love shall ye have peace; yea and verily, only peace and love will cure the world, and subdue all evil. One who is going to take a pointed stick to pinch a baby bird should first try it on himself to feel how it hurts.

Nke si ibe ya ebene gosi ya ebe o ga-ebe.

Whoever says the other shall not perch, may they show the other where to perch. In the view of Greg M. But not a single one of these versions of the golden rule requires a God ". Trying to live according to the Golden Rule means trying to empathise with other people, including those who may be very different from us.

Do not do to others what you would not want them to do to you. Moral directives do not need to be complex or obscure to be worthwhile, and in fact, it is precisely this rule's simplicity which makes it great. It is easy to come up with, easy to understand, and easy to apply, and these three things are the hallmarks of a strong and healthy moral system. The idea behind it is readily graspable:

Golden Rule

Common good (economics) - Wikipedia

Golden Rule savings rate

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