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An economic instrument to improve communities
LundaHydro AB, Sweden.
Linnaeus University, Faculty of Health and Life Sciences, Department of Biology and Environmental Science.ORCID iD: 0000-0002-1903-760X
2019 (English)In: Theoretical Economics Letters, ISSN 2162-2078, E-ISSN 2162-2086, Vol. 9, no 6, p. 1804-1816Article in journal (Refereed) Published
Abstract [en]

A general strive exists for achieving the wanted results with as limited resources as possible. There is a need for ever more cost-effective organisations, making this paper required to improve the policy efficiency and raise the technological standard in various communities. The launched economic instrument also improves the ecological footprint of the organisations in question. The Naturally Optimised Revenue Demand in Communities (NORDIC) model is introduced to improve the flow of physical and immaterial utilities through entities of different kinds, such as producing companies and nations. The basis for the work is the existing Efficient Use of Resources for Optimal Production Economy (EUROPE) model, which is developed to become more powerful. Constructed shadow costs are added to the bookkeeping systems of organisations to give economic incentives to improve the economy, technology and environment. The method provides a single key indicator to improve performance. A manual for the practical use of the NORDIC model is presented. The case study shows how to induce an economic incentive to reduce the costs and increase the efficiency for the health care, education and social services in the nation of Sweden. The model shows utility for various entities, such as public sectors, within nations. Citizens get a better life, and improved health, due to a better economy when the results in this paper are implemented.

Place, publisher, year, edition, pages
Scientific Research Publishing, 2019. Vol. 9, no 6, p. 1804-1816
Keywords [en]
Nordic Model, Efficiency, Utilities, Flows
National Category
Business Administration
Research subject
Economy, Ledarskap, entreprenörskap och organisation
Identifiers
URN: urn:nbn:se:lnu:diva-98602DOI: 10.4236/tel.2019.96115OAI: oai:DiVA.org:lnu-98602DiVA, id: diva2:1477970
Available from: 2020-10-20 Created: 2020-10-20 Last updated: 2020-10-20Bibliographically approved

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Hogland, William

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CiteExportLink to record
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Cite
Citation style
  • apa
  • ieee
  • modern-language-association-8th-edition
  • vancouver
  • Other style
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Language
  • de-DE
  • en-GB
  • en-US
  • fi-FI
  • nn-NO
  • nn-NB
  • sv-SE
  • Other locale
More languages
Output format
  • html
  • text
  • asciidoc
  • rtf