Pivotal Concepts: Definitions and Elaborations
This chapter deals with the necessary paradigm shift for the Balanced Socioeconomic Development. The sunny-side proposition asserts that the fundamental source of socioeconomic vitality arises from the people's general enthusiasm and optimism for the future as well as from their growing motivation for the long-term betterment of socioeconomic conditions based on the on-going Holistic Culture Enrichment. The sunny-side proposition refers to the Maturation Process that is characterized by the closing gap between the Social Rate of Interest (SRI) and the Economic Rate of Interest (ERI), indicating the declining extra-profit rate. In the present long-term theoretical framework, the income distribution based increasingly on the broadly defined human capital may become desirable for and conducive to reasonable personal equity in respective societies. As many societies and nations eventually move into the Maturation Process with the paradigm shift for the sound enrichment of diverse Cultures across the world, their respective constituents may consciously seek much fairer income distribution domestically and internationally.