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On the Economic Returns From a Global Program of Social Capital: A Trillion Dollar Agenda for Growth

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  • Steven H. KIM

    (MinKit Institute, USA.)

Abstract

For the economy to grow, the actors in the marketplace need to expand the overall output rather than jostle each other for bigger shares of the available output. To this end, the productivity level may be boosted through a comprehensive program of social capital. Based on the experience of the 20th century, the rich countries of the world could afford to commit US$1 trillion per year for a couple of decades. According to a compelling scenario, the total investment of $20 trillion in nominal terms will comprise $13.6 trillion in current dollars since the funds will be disbursed over time rather than spent at once. Based on conservative estimates, the present value of the benefits will exceed $3.39 quadrillion which represents a payback of 249 times the original investment. In this way, the windfall from a global program of social capital should far surpass the outlay required for its implementation.

Suggested Citation

  • Steven H. KIM, 2016. "On the Economic Returns From a Global Program of Social Capital: A Trillion Dollar Agenda for Growth," Journal of Economics and Political Economy, EconSciences Journals, vol. 3(4), pages 720-730, December.
    • Handle: RePEc:cvv:journ1:v:3:y:2016:i:4:p:720-730
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    References listed on IDEAS

    as
    1. Michael Clemens, 2011. "Economics and Emigration: Trillion-Dollar Bills on the Sidewalk? - Working Paper 264," Working Papers 264, Center for Global Development.
    2. Kim, Steven, 2016. "Complex Factors Behind Misguided Policies in Socioeconomics: From Mass Migration and Persistent Alienation to Rampant Crime and Economic Malaise," MPRA Paper 76733, University Library of Munich, Germany.
    3. Michael A. Clemens, 2011. "Economics and Emigration: Trillion-Dollar Bills on the Sidewalk?," Journal of Economic Perspectives, American Economic Association, vol. 25(3), pages 83-106, Summer.
    4. Steven H. KIM, 2016. "Complex Factors Behind Misguided Policies in Socioeconomics: From Mass Migration and Persistent Alienation to Rampant Crime and Economic Malaise," Journal of Economic and Social Thought, KSP Journals, vol. 3(3), pages 376-399, September.
    5. Steven H. KIM, 2016. "Complex Factors Behind Misguided Policies in Socioeconomics: From Mass Migration and Persistent Alienation to Rampant Crime and Economic Malaise," Journal of Economic and Social Thought, EconSciences Journals, vol. 3(3), pages 376-399, September.
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    Keywords

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    JEL classification:

    • E20 - Macroeconomics and Monetary Economics - - Consumption, Saving, Production, Employment, and Investment - - - General (includes Measurement and Data)
    • E60 - Macroeconomics and Monetary Economics - - Macroeconomic Policy, Macroeconomic Aspects of Public Finance, and General Outlook - - - General
    • O10 - Economic Development, Innovation, Technological Change, and Growth - - Economic Development - - - General
    • P00 - Political Economy and Comparative Economic Systems - - General - - - General
    • Z10 - Other Special Topics - - Cultural Economics - - - General

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