Please use this identifier to cite or link to this item: https://hdl.handle.net/10419/206396 
Year of Publication: 
2018
Citation: 
[Journal:] BRQ Business Research Quarterly [ISSN:] 2340-9436 [Volume:] 21 [Issue:] 4 [Publisher:] Elsevier España [Place:] Barcelona [Year:] 2018 [Pages:] 278-292
Publisher: 
Elsevier España, Barcelona
Abstract: 
Summary We revisit the recently revived concept of social economic progress. We take a microeconomic perspective and address economic progress where it originates, with value creation at individual businesses. We begin with a brief history of thought on the concept. We continue by analyzing how a business creates private value through productivity growth, which is a necessary but not sufficient condition for a business to create social value. We then adopt an analytical approach to value creation from the perspective of a business, by analyzing how the creation of private value has implications for the distribution of income and creates social costs and benefits. We argue that a business creates social value, thereby contributing to social economic progress, only if it creates private value, it distributes the value it creates in a balanced way, and it generates social benefits having greater value than the value of the social costs it generates."
Subjects: 
Social economic progress
Managerial performance
Value creation
Income distribution
Labor displacement and re-employment
Social cost
Persistent Identifier of the first edition: 
Creative Commons License: 
cc-by-nc-nd Logo
Document Type: 
Article

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