How did Starbucks grow from its origins as a purveyor of roasted coffee beans to its ubiquitous presence, in a few decades, as the leading global coffee chain? What are the business and economics principles of its phenomenal growth? The firm’s rise rests on the mantra and guiding belief that doing good is good for business, as this promotes trust (an emerging economic concept) in the Starbucks brand. Drawing from practice-based observations made over many years, and accompanying analysis, we sketch the ten pillars of Starbucks’s impressive success. Finally, this article delineates the linkages to behavioural economics.

From economic and political perspectives, freedom is the central concept in democracy. The economic and political background, and evidence from Bolivia and Brazil, show that democracy was briefly tested in Bolivia, but in Brazil it continues to face profound challenges. The 2019 military-led coup d’état in Bolivia temporarily suspended democracy in that nation. But the 2020 elections reinstated democracy and, with it, economic and political freedoms were restored. Its economy is back on track to be robust, but currently faces limitations due to the coronavirus. In Brazil, the situation is different. While it also has a nascent democracy, its current president is mired in controversy and turmoil due to unpopular and undemocratic economic and other policies that do not tackle key weaknesses in the economy but rather promote a personal and ideological agenda. Lessons to be learned, as highlighted in the conclusion, are drawn from analysis of both recent developments and the status quo in these two Latin American countries.

The November 2019 coup d’état in Bolivia, orchestrated by the armed forces, brought an abrupt end to President Evo Morales’s modern approach to governance and development. The coup also brought a return to colonialism or neo-colonialism. However, the elections slated for October 18, 2020, may very well restore democracy in Bolivia. In political economy, only under conditions of convergence are politics and economics fundamentally inseparable, mutually interdependent and not dichotomous. Divergence means that the opposite of convergence holds true. Colonialism had been both the dominant ideology and the governing development paradigm in Bolivia for most of the last two centuries. The long-standing status quo changed in 2005 when Morales came to power and introduced a modern (plurinational) perspective to political economy and development. His governing development paradigm included, inter alia, indigenous rights, which were thrust to prominence, to make up for years of neglect of indigenous populations. And along with this, initiatives that advanced progress, development (economic, social and political) and equality, became the new norm. While the past year saw a deterioration of democracy in Bolivia, the upcoming elections hold promise of returning Morales’s party into power and the restoration of his true legacy, which is otherwise disparaged and misrepresented by the interim government. In this article, economic and political data and analysis – especially in tabular or narrative form – provide a powerful medium to make my case.

The comprehensive impact of the coronavirus has prompted Brazil’s political economy to take shape in a manner which is exposing actions that are not founded on good governance but rather on shenanigans, political manoeuvring and the promotion of personal agendas. This is placing its presidency under stress and Brazil’s young democracy is in peril. At the local and regional levels, democracy, governance and political economy are mired in corruption and crime. Using World Bank data, it is illustrated that perhaps only under Lula’s Presidency (2003–10) was multifaceted progress in development achieved.

Political economy is a core factor in the business environment, where either convergence or divergence are essential characteristics. This paper outlines, with a formula, illustrations and five country ratings, a new theory of the business environment that is comprehensive, and also offers a modicum of a quantitative dimension, expressed in terms of metrics and data.

In this article, the central question addressed is: does the business environment entail a complex nexus of political economy and other factors (government, business, ideology, and leadership) that may or may not manifest convergence? Also, the role of metrics and data is appropriately discussed. Current theories fail to impart an understanding of what the nature of the business environment is, or of the multifaceted nexus and convergence (or divergence) that it may entail. The strength of convergence involved is directly related to the integrity of the business environment and also reflects the overall dynamics in the country of focus. Each of the three country cases examined is fundamentally different, but offers important lessons. The overarching conclusion is that political economy and convergence often play a critical role in the business environment—though certainly not always, as in South Africa, where there is divergence, and in the case of metrics and data on the business environment, which, by design, do not focus on convergence.

A comprehensive treatise on inequality from economic, social, business and metrics/data perspectives is lacking in the literature and this treatise fills that void. We posit that: (a) neoclassical economics has failed to address inequality within nations; (b) the social theories on inequality are of ancillary importance; (c) businesses have contributed to inequality in several ways but have also made a positive contribution towards a fairer, more equitable society; (d) data on inequality is not up to date. Taxation and social programs offer an inadequate approach to tackling inequality without a proper framework and supporting approaches. In addition, complementarity between neoclassical economics and behavioural economics would be a positive factor in addressing inequality and should be pursued. Issues of inequality metrics and data reliability have moved to the forefront of discussions as the data currently available is the basis of much dissent. Robust metrics and reliable and up to date inequality data (as well as related statistics) are indispensable for designing, implementing, monitoring, and evaluating inequality interventions and policies.

This paper reviews the nature of the economic crisis and discusses its impact on the Commonwealth. Further, it offers an analysis and suggestions on how Commonwealth nations can move forward to both tackle the impact of the crisis and prepare for the post-crisis period, through five key policy principles that can serve as a guide in the formulation and implementation of appropriate policies, strategies and programmes.

The current economic and financial crisis has exposed several weaknesses in economics that emanate from oversimplification of reality, the role of ideology, and the failure to consider culture and governance matters. In addition, tackling poverty and inequality in economics is highly problematic and it has arguably also been a failure. Other areas, including fundamental assumptions regarding rational decision-making and the lack of a robust linkage between the micro and the macro, leave much to be desired as well. And these ‘fault lines’ have had an impact on the depth and quality of economics. This paper draws from field research and other primary sources, and engages in a critical review and analysis of the background and certain aspects of the status quo of economics, with special reference to macroeconomics, development economics, and other areas. Fresh ideas and alternative paradigms suggest an emerging new economics to address the fault lines and to grow the discipline.

Governance matters are arguably at the core of international development. What role do theory, policy and practice play in shaping matters of governance with respect to development? This review paper, which is organised in three parts, focuses on this subject since the demise of communism in 1991. In the first part, the theories on the governance and development nexus are outlined. In the second, governance policy is discussed with reference to: the early strategic policy shift; the concepts, principles and framework for enhanced governance; selected reviews by scholars and practitioners; and numerous key current issues. Governance in practice is examined in the third part with the same or similar questions, reviews and current issues. In addition, lessons are drawn from a case study. The conclusion of this paper is threefold: first, it is a fallacy that there is a pre-eminent system of governance that is universally applicable; second, the relevant theories on the subject have a remarkably limited role to play in sculpting policy and practice; and, third, perhaps the single most important problem in policies and practices on governance for development is the failure to temper interventions to the contextual dynamics found in each developing country setting.

The pursuit of inclusive development raises numerous questions and challenges for academics, practitioners and policymakers. To demystify the subject and move towards addressing the challenges, this paper first highlights the concept of inclusive development. Next, the key approaches as advanced by various proponents of inclusive development are presented. This is followed by a discussion of the neo-liberal ideology’s demise and its likely impact on inclusive development. The findings suggest that inclusive development should be shaped by various factors, such as; the functional definition of inclusive development, interventions that enhance governance and promote effective institutions, sound economic policies, and cultural and socio-economic considerations in policymaking and implementation. Furthermore, inclusive development requires – as with the generic Asian approach to capitalism – that planning and interventions are state-led, with indispensable but ancillary engagement by the private sector and other stakeholders. In lieu of the failed neo-liberal model of governance and the free-market system, the generic Asian approach to development is suggested to be one realistic option to pursuing inclusive development goals in developing countries.

Botswana is at a crossroads, as economic growth has slowed significantly in recent years while social problems remain largely unresolved. Exacerbating this situation is a monetary policy in crisis as over a decade of generally high interest rates have failed to address inflationary pressures. Thus, the Botswana experience challenges generally accepted wisdom on the relationship between interest rates and inflation. The main lessons learned highlight the need for (i) enhancing the knowledge and information base; (ii) tempering monetary policy to prevailing mores; and (iii) ensuring the provision of good governance at the central bank. Policy and programme recommendations that are offered are relevant not only to Botswana but also to other developing countries that face similar challenges.