Research on the Effect of Successful Business People on the Society

Hanwen Zheng

doi:10.54097/5d15zp73

Authors

Hanwen Zheng

DOI:

https://doi.org/10.54097/5d15zp73

Keywords:

Successful Business People, Effect, Economic

Abstract

It is known that successful business people play a crucial role in wealth creation and expenditure. This paper mainly discussed whether successful business people benefit others when making their money, when spending it, both, or neither? This paper seeks to shed light on these questions, exploring the complex relationship between wealth accumulation and societal benefits. This paper examines the extent to which wealthy individuals benefit others during the process of wealth creation and expenditure, considering both top-down and bottom-up economic perspectives. By utilizing the true situation using Top-Down and Bottom-Up perspective, this paper draws the conclusion that: On the one hand, when the successful business people have social responsibility, they use the method of making money to provide people with employment and re-employment, they have great love and universal love, and they shoulder the responsibility of the savior. On the other hand, when successful businessmen have more and more money, it will lead to the wealth of the society in the hands of a few people, affecting the reasonable development of politics and economy.

Downloads

Download data is not yet available.

References

[1] Abel, Andrew B. and Mark Warshawsky (1988) Specification of the joy of giving: Insights from altruism. Review of Economics and Statistics 70, 145–149.

[2] Alonso-Carrera, Jaime, Jordi Caballe, and Xavier Raurich (2004) Consumption externalities, habit formation and equilibrium efficiency. Scandinavian Journal of Economics 106, 231–251.

[3] Alvarez-Cuadrado, Francisco, Goncalo Monteiro, and Stephen J. Turnovsky (2004) Habit formation, catching up with the Joneses, and economic growth. Journal of Economic Growth 9, 47–80.

[4] Borissov, Kirill (2013) Growth and distribution in a model with endogenous time preferences and borrowing constraints. Mathematical Social Sciences 66, 117–128.

[5] Borissov, Kirill and Stephane Lambrecht (2009) Growth and distribution in an AK-model with endogenous impatience. Economic Theory 39, 93–112.

[6] Fisher, Walter H. and Franz X. Hof (2000) Relative consumption, economic growth and taxation. Journal of Economics 73, 241–262.

[7] Frank, Robert H. (2008) Should public policy respond to positional externalities? Journal of Public Economics 92, 1777–86.

[8] Galor, Oded and Omer Moav (2004) From physical to human capital accumulation: Inequality in the process of development. Review of Economic Studies 71, 1001–26.

[9] Galor, Oded and Joseph Zeira (1993) Income distribution and macroeconomics. Review of Economic Studies 60, 35–52.

[10] Garc´ıa-Penalosa, Cecilia, and Stephen J. Turnovsky (2008) Consumption externalities: A representative consumer model when agents are heterogeneous. Economic Theory 37, 439–467.

[11] Keynes, John M. (1936) The General Theory of Employment, Interest, and Money. New York: Harcourt Brace.

[12] Koyuncu, Murat and Stephen J. Turnovsky (2010) Aggregate and distributional effects of tax policy with interdependent preferences: The role of “catching up with the Joneses.” Macroeconomic Dynamics 14 (Supplement 2), 200–223.

[13] Lambrecht, Stephane, Philippe Michel, and Emmanuel Thibault (2006) Capital accumulation and fiscal policy in an OLG model with family altruism. Journal of Public Economic Theory 8, 465–486.

[14] Lambrecht, Stephane, Philippe Michel, and Jean-Pierre Vidal (2005) Public pensions and growth. European Economic Review 49, 1261–1281.

[15] Long, Ngo Van and Koji Shimomura (2004) Relative wealth, status seeking, and catching up. Journal of Economic Behavior and Organization, 53, 529–542.

[16] Mino, Kazuo and Yasuhiro Nakamoto (2012) Consumption externalities and equilibrium dynamics with heterogeneous agents, Mathematical Social Sciences 64, 225–233.

[17] Moav, Omer (2002) Income distribution and macroeconomics: The persistence of inequality in a convex technology framework. Economics Letters 75, 187–192.

[18] Moav, Omer and Zvika Neeman (2010) Status and poverty. Journal of the European Economic Association 8, 413–420.

[19] Moav, Omer and Zvika Neeman (2012) Saving rates and poverty: The role of conspicuous consumption and human capital. Economic Journal 122, 933–956.

[20] Pham, Thi Kim Cuong (2005) Economic growth and status-seeking through personal wealth. European Journal of Political Economy 21, 404–427.

[21] Piketty, Thomas (2011) On the long-run evolution of inheritance: France 1820–2050. Quarterly Journal of Economics 126, 1071–1131.