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Social Equilibrium as a Criterion for Sustainable Development of Public Output


  • Konstantin Kolev
  • Ivan Yovkov


The argument is elucidated, that the economic and political entrepreneurs in contemporary societies represent a value, and in this capacity they are protected by institutions, defining their social role in society. Both subjects personify the nature of the main antagonism in modern societies. In the contemporary public production process they could be both in social equilibrium state and in public conflict situation. An algorithm is provided to specify the equilibrium and the trend for any future social activities of the economic and political entrepreneurs. The theoretical conclusions are proven experimentally by means of an assessment of Bulgaria's economy for the period 1997-2008.

Suggested Citation

  • Konstantin Kolev & Ivan Yovkov, 2011. "Social Equilibrium as a Criterion for Sustainable Development of Public Output," Economic Thought journal, Bulgarian Academy of Sciences - Economic Research Institute, issue 3, pages 68-91.
  • Handle: RePEc:bas:econth:y:2011:i:3:p:68-91

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    References listed on IDEAS

    1. Fama, Eugene F, 1972. "Components of Investment Performance," Journal of Finance, American Finance Association, vol. 27(3), pages 551-567, June.
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    JEL classification:

    • D72 - Microeconomics - - Analysis of Collective Decision-Making - - - Political Processes: Rent-seeking, Lobbying, Elections, Legislatures, and Voting Behavior
    • D73 - Microeconomics - - Analysis of Collective Decision-Making - - - Bureaucracy; Administrative Processes in Public Organizations; Corruption


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