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ENGLISH ABSTRACT : This thesis proposes the introduction of a new causal factor of production called ‘steering’, translated into Spanish as ‘executive and innovative talent’, along with a redefinition of wealth within theories of production and economic growth. Positive steering represents actors who innovate radically or choose to take the lead in organizations and, in so doing, generate extraordinary economic effects. They achieve this by successfully acting as entrepreneurs, senior management, inventors, discoverers, innovators, national leaders, and those in charge of State governance. Furthermore, it redefines the variable 'investment' to include the apprenticeships acquired by all individuals through the process of production. First conceived in Oxford in 1978 using vector analysis, the concept steering is presented with a simplified formulation in matrixes, a fully dynamic model, function of historical time. It is a single element added to the two classic factors of production, ‘capital’ and ‘labor’. All three are measured in the same unit: USD per capita. For the first two, the magnitudes are, respectively, capital stock and the present value of the workforce’s salaries. The formula for ´steering´ should add three components: the present value of steering’s salaries; the value of patents as a proxy; and institutions, for which we have to use a coefficient, lambda, that multiplies steering’s salaries and moves up from 0 for developing countries to 1 for a fully developed economy. The goal is not to predict or employ notions of equilibrium but rather to realistically describe the dynamics of production and growth. The model is a ‘paramorph’, a parable through which we come to understand the issues by looking at something much simpler that we already know quite well, the source. It is an analogy, different from the usual simplification model (homeomorph’). This dissertation is itself a paramorph to better understand, as trajectories of countries in a three-dimensional space, the categories of wealth, production and economic growth. In Chapter 2, for a better understanding of this new concept, examples selected from other sciences have proved to be very helpful. The most significant contributions have come from the philosophy of science and history, particularly from Rom Harré (paramorphs) and Arnold Toynbee (the growth of civilizations), respectively, along with insights from other eminent thinkers well-versed in the business realm, who, from a philosophical standpoint, explore the deep sources of human work (Pérez López, one of them, would have welcomed the use of Confidence as a criteria!). Chapter 3 begins with an extensive list of individuals who personify steering clic here that complements the definition given in Chapter 1 and contributes to clarifying the new concept. Besides those quoted by Toynbee, we selected a couple of score of successful individuals who over the last two centuries represent the seven categories of positive steering (We didn’t think of using Confidence to select them!). The successful case analyzed is the postwar period beginning in 1945, with the Marshall Plan and the emergence of the European Community, heralding 75 years of peace in Europe. An important question arises from the research: can this success be attributed to an extraordinary concentration of steering that the Allied Government of Free Europe managed to achieve and maintain? We say yes. Another remarkable finding of this thesis is methodological: imaginative paramorphs plus vector analysis applied in other domains of economic theory might yield results comparable to those achieved here (for example, one single world model of international interchanges, a zero-sum game). The proposal is to update the Methodology of Economics as a social science. The mere process of attempting this would greatly expand our knowledge of the phenomena.
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Title Steering or executive and innovative talent, third causal factor of production and economic growth: A theoretical investigation
ENGLISH ABSTRACT : This thesis proposes the introduction of a new causal factor of production called ‘steering’, translated into Spanish as ‘executive and innovative talent’, along with a redefinition of wealth within theories of production and economic growth. Positive steering represents actors who innovate radically or choose to take the lead in organizations and, in so doing, generate extraordinary economic effects. They achieve this by successfully acting as entrepreneurs, senior management, inventors, discoverers, innovators, national leaders, and those in charge of State governance. Furthermore, it redefines the variable 'investment' to include the apprenticeships acquired by all individuals through the process of production. First conceived in Oxford in 1978 using vector analysis, the concept steering is presented with a simplified formulation in matrixes, a fully dynamic model, function of historical time. It is a single element added to the two classic factors of production, ‘capital’ and ‘labor’. All three are measured in the same unit: USD per capita. For the first two, the magnitudes are, respectively, capital stock and the present value of the workforce’s salaries. The formula for ´steering´ should add three components: the present value of steering’s salaries; the value of patents as a proxy; and institutions, for which we have to use a coefficient, lambda, that multiplies steering’s salaries and moves up from 0 for developing countries to 1 for a fully developed economy. The goal is not to predict or employ notions of equilibrium but rather to realistically describe the dynamics of production and growth. The model is a ‘paramorph’, a parable through which we come to understand the issues by looking at something much simpler that we already know quite well, the source. It is an analogy, different from the usual simplification model (homeomorph’). This dissertation is itself a paramorph to better understand, as trajectories of countries in a three-dimensional space, the categories of wealth, production and economic growth. In Chapter 2, for a better understanding of this new concept, examples selected from other sciences have proved to be very helpful. The most significant contributions have come from the philosophy of science and history, particularly from Rom Harré (paramorphs) and Arnold Toynbee (the growth of civilizations), respectively, along with insights from other eminent thinkers well-versed in the business realm, who, from a philosophical standpoint, explore the deep sources of human work (Pérez López, one of them, would have welcomed the use of Confidence as a criteria!). Chapter 3 begins with an extensive list of individuals who personify steering clic here that complements the definition given in Chapter 1 and contributes to clarifying the new concept. Besides those quoted by Toynbee, we selected a couple of score of successful individuals who over the last two centuries represent the seven categories of positive steering (We didn’t think of using Confidence to select them!). The successful case analyzed is the postwar period beginning in 1945, with the Marshall Plan and the emergence of the European Community, heralding 75 years of peace in Europe. An important question arises from the research: can this success be attributed to an extraordinary concentration of steering that the Allied Government of Free Europe managed to achieve and maintain? We say yes. Another remarkable finding of this thesis is methodological: imaginative paramorphs plus vector analysis applied in other domains of economic theory might yield results comparable to those achieved here (for example, one single world model of international interchanges, a zero-sum game). The proposal is to update the Methodology of Economics as a social science. The mere process of attempting this would greatly expand our knowledge of the phenomena.
Work type Research papers, Thesis, Lecture notes
Tags investment redefined, investigaciones, vector analysis in economics, análisis vectorial en economía, altos directivos, investigaciones crecimiento económico, wealth, paramorph, economic growth, paramorfo, executive and innovative talent, talento directivo e innovador, inversión redefinida, steering, production, análisis gobierno de la empresa
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Entry date Jul 28, 2025, 1:17 AM UTC
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Author 100.00 %. Holder Ignacio José Joaquín Soto Llosa. Date Jul 28, 2025.
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