Before pandemic the world economy had a pre-crisis situation which was characterized by unprecedented imbalances in the global financial and economic system, the lack of growth in world GDP, which posed a real threat to the world economic order. Almost all global analysts predicted a global economic crisis at the end of 2019. For the first time since time immemorial, bank interest rates in all countries have dropped to unprecedented low levels. Often interest rates were (...) 0% or even negative. The EU’s financial system has been so disfigured by the VAT tax that fraud with this tax has reached a scale far exceeding hundreds of billions EUR and in fact got out of control of the authorities. (shrink)

The current economic crisis caused by the COVID-19 pandemic has created new changes and challenges for society, which has led to a deeper identification of pressing problems and to develop strategies and models for overcoming crises in various countries, industries and businesses. The formation and improvement of modern strategies and models of crisis management is impossible without optimizing the resources of economic entities, providing assistance at various levels of government to support priority sectors of the economy, (...) finding additional sources of funding to combat the COVID-19 pandemic. To ensure the effective develop and implementation of modern strategies and models of crisis management it is necessary to have information about the state of economic entities, relevant commodity, raw materials, financial markets, explore the internal and external environment, determine the impact of risks on current activities business entities or industries. The effectiveness of crisis management strategies and models is determined by the ability of the management system to ensure the support of business activity of economic entities in the relevant market and to stimulate effective consumer demand. The purpose of writing this scientific monograph is to substantiate the theoretical and methodological foundations and to form and improve strategies and models of crisis management taking into account new changes and challenges for society related to the COVID-19 pandemic and declining business activity of economic entities. The object of the author’s research was the process of formation and improvement of crisis management strategies and models in the conditions of market imbalance and change of the external environment, reduction of activity volumes of economic entities, growth of budget expenditures to combat the COVID-19, formation of new forms of activities and penetration of information technology into various spheres of life to optimize the negative consequences of a pandemic. The subject of the study were socio-economic, organizational and institutional processes of formation and effective implementation of strategies and models of crisis management in various areas of economic activity; substantiation of mechanisms for ensuring the competitiveness of economic entities and the formation new forms of entrepreneurship; development of modern information technologies; consideration of best practices in business process management and digitalization using world experience in various sectors of the economy caused by the COVID-19. (shrink)

Citizens are the most important economic priority for the economy of Ukraine in comparison with any territory values in the number of its territories and from this position easy needs any position. The pandemic economic crisis did not reveal anything new, but it finally and irrevocably confirmed and proved the priority of the human factor in the economy of any state over the geographical boundaries and regional structure of the state.

This article identify catalysts of synthetic economic crisis. These catalysts are the subject of transnational corporations, international financial, trade organizations, regional integration groupings. Generalized mechanism for the flow of synthetic economic crisis and their types. This article also proves that the response of governments to the process flow of synthetic economic crisis with the help of the classical fiscal, monetary and administrative-legislative instruments are not effective.

In this paper, a phenomenological perspective on capitalism is given: it is considered as the economic expression of onto-theology. Capitalism is based on egotism, whose principles are private ownership (correlative of intentionality) and free market (correlative of liberty). The current crisis is the symptom of a disease, that is a lack of ethics, an indiscriminate pursuit of egotism. A moral revolution is here proposed as a remedy. The aim is not to destroy capitalism, but to save it with (...) the introduction of an ethical attitude, based on original responsibility and uniqueness (Levinas), as well as on bi-directional respect (Ricoeur). (shrink)

The paper describes economic crises as a term with different kinds of meanings, a term which undergoes continuous development. The way of understanding this term is intimately connected with the role of state in the sphere of economy. Before the big economic crises nobody expected the state to interfere with the economy. However, after the crises in 1930's till the end of 1970's it was considered as one of the main tasks of the state. The role of state (...) was to prevent the crises or to reduce its negative consequences. Due to the dominant position of the economic thinking in the present-day world the meanings of the term economic crises influence also the meanings of term crises in other fields. (shrink)

This article argues that economic crises are incompatible with the realisation of non-domination in capitalist societies. The ineradicable risk that an economic crisis will occur undermines the robust security of the conditions of non-domination for all citizens, not only those who are harmed by a crisis. I begin by demonstrating that the unemployment caused by economic crises violates the egalitarian dimensions of freedom as non-domination. The lack of employment constitutes an exclusion from the social bases (...) of self-respect, and from a practice of mutual social contribution crucial to the intersubjective affirmation of one’s status. While this argument shows that republicans must be concerned about economic crises, I suggest a more powerful argument can be grounded in the republican requirement that freedom must be robust. The systemic risk of economic crisis constitutes a threat to the conditions of free citizenship that cannot be nullified using policy mechanisms. As a result, republicans appear to be faced with the choice of revising their commitments or rejecting the possibility that republican freedom can be robustly secured in capitalist societies. (shrink)

Marx claims that economic crisis is endemic to capitalism and will worsen as capitalism develops. The article situates Marx’s crisis theory within the discipline of political economy, explains its relationship to mainstream economics, charts economic crises that have happened since the 1840s, and explains Marx’s crisis theorem of the fall in the rate of profit. In conclusion, the 2008 economic crisis, and the notion of crisis in general, are speculatively considered. Special attention (...) is given to the affective desire to own a home, particularly as this is desire is developed by capitalism, in relation to the sub-prime mortgage credit crisis. (shrink)

Current globalization has its predecessor in the global market of the 19th century. In that time, the main sign of globalization was de socialization of the economy. That globalization ended during World War I as a result of applying the liberal ideology of de socialization to an economy. An attempt to rebuild the global market after World War I led to the global economic crisis (1929 1932), which in Germany allowed Nazis to take over and finally led to (...) World War II. In result of this development after the war, the idea of a welfare state arose in Western Europe. However, the problems brought about by realization of this idea led to further globalization and consequently to the rebuilding of the global market. It is clear that current globalization rebuilds also the process of de socialization of the economy. It seems that this causes the repetition of radicalizations from left to right extremist movements. The current global economic crisis or the combination of energy and environmental crises could end the current globalization trend in the same way as it was brought to an end in the first half of the 20th century. (shrink)

This paper analyzes the current crisis of the global industrial civilization as a coincidence of external and internal reasons, mainly as a coincidence of economic and environmental crises tendencies. The analysis is based on Habermas´ distinction between four types of social formation, and according to their internal organizational principles and an extent of their social and system integration, also types of crises that can occur in the given type of the social formation. The paper shows that the common (...) reason of economic and environmental crises which are a part of system crisis of industrial civilization is an imperative of growth. This imperative, as Habermas points out, is the immanent principle of institutions and systems of capitalism. Economic and demographic growth of industrial civilization based on capitalism principles has reached its limits. However, all types of social formation, institutions and civilizations are also determined by the imperative of sustainability. The current crisis is then characterized as a display of antagonism between the imperative of growth and imperative of sustainability. This antagonism creates a new category of transformation for sustainable societies or revolution conflicts in states that break environmental and economic limits of growth. These conflicts result from food and water shortages and could bring a growing instability into the world or lead into the collapse of the industrial civilization. (shrink)

The aim of this paper is to investigate the current debate on the state of economics from a methodological perspective. We claim that the majority of contributions criticizing modern economics are not based on clear methodological principles and thus many of them are not correct. We show this with respect to such issues as the problem of realisticness of models and their assumptions, the role of mathematics in economics, the way we conceptualize the relation between economics (theory) and economy (empiria), (...) as well as the general problem of comparing theories. In doing so we use the research apparatus taken form the philosophy of science and also we benefit a lot from recent developments in the philosophy of economics. Finally, we show one of the paradoxes of that debate, namely that many critics of economics accuse economists of using the wrong language (mathematics) while they do not use proper language themselves while criticizing economics, namely the apparatus taken from the philosophy of science. (shrink)

What does it mean to study places in ‘crisis’ and how does that affect the research done on the ‘rural’? To be considered to be in crisis is not really new as any literature review of rural studies indicates. And yet, we live now in a new context, with new challenges for ‘rural’ research, in particular that of sustainability. Sustainability is the new policy focus and is increasingly reflected in research on rural Europe. Although scholars are beginning to (...) theorize on what is sustainable in and for rural areas, our intention is to take this further. We theorize on what the focus on crisis and, increasingly on sustainability, means for the research we do and the knowledge we produce on rural Europe. Our aim is to bring attention to the politics of past and present knowledge production on the rural to be able to imagine just and sustainable futures. In an analysis of literature primarily from Sweden and the UK, we argue that two construals, that of a rural crisis and that of rural–urban polarization, have set the tone for rural studies and may have overshadowed a more plural approach. We outline what might be needed from rural research to meet future challenges and what the notion of sustainability, with its emphasis on the entanglements of the social, economic and environmental, might mean for the future of rural research. (shrink)

World Crisis and Underdevelopment examines the impact of poverty and other global crises in generating forms of structural coercion that cause agential and societal underdevelopment. It draws from discourse ethics and recognition theory in criticizing injustices and pathologies associated with underdevelopment. Its scope is comprehensive, encompassing discussions about development science, philosophical anthropology, global migration, global capitalism and economic markets, human rights, international legal institutions, democratic politics and legitimation, world religions and secularization, and moral philosophy in its many varieties.

The article explores novel directions in the phenomenology of economics. It analyzes how the approaches of Till Düppe and Alfred Schütz, both inspired by Edmund Husserl, may shed light on the historical development of economics. I examine the substance and meaning of economics in the context of the forceful criticism of the whole discipline recently raised by Düppe. This examination uncovers important weaknesses and omissions inherent in Düppe’s argument against the economists’ scientific aspirations. The analysis of the social scientific endeavors (...) by Alfred Schütz who develops a phenomenologically informed ‘telescopic’ concept of an ideal type is then shown to be a more fruitful and methodologically rigorous way towards understanding the developments within economics. The Schützian view permits us to see how abstract economic models originate in the experience of the life-world and are continuous with it. Accordingly, the historical development of economic science may be viewed as consisting from two broadly defined phases, where at first the formalism is steadily increasing (the ‘zooming out’ phase) and later the discipline converges back to context-specific empirical examinations (the ‘zooming in’ phase). A case study concentrating on the economic theory of politics illustrates that both the drive towards abstraction that has culminated around 1950s and the more recent ‘zooming in’ is methodologically legitimate from the phenomenological point of view. I conclude that economics has never been completely severed from the paramount reality of the everyday life and for decades the interconnection has been growing stronger by the day. (shrink)

This article presents possible answers, and their respective probabilities, to the question, ‘What are the consequences of the present global crisis in the proximate future of the World System?’ It also attempts to describe the basic characteristics of the forthcoming ‘Epoch of New Coalitions’ and to forecast certain future conditions. Among the problems analyzed in this paper are the following: What does the weakening of the economic role of the USA as the World System centre mean? Will there (...) be a leader in the future World System? Will the deficit of global governance and world fragmentation continue to worsen? How can national sovereignty be transformed? (shrink)

The paper tries to examine the effects of economic crisis on philosophical considerations of distributive justice. It tackles the problem of a radical increase in scarcity as a condition of justice. Instead of assuming a relatively fixed (“moderate”) level of scarcity as a background against which justice in distribution obtains, the paper examines what happens when this level risks falling below and how does that change our views of distributive justice. It takes upon the recent events in the (...) United States to construe a specific philosophical model and ask how crisis distribution, where that favors wealthier actors, can be justified. By analyzing the crisis distribution principle, it ultimately aims to suggest that moderate scarcity should not be seen as a mere condition, but an important and vital object of justice. As such it falls within, not beyond legitimate obligations of democratic governance. (shrink)

This review essay of Economics Rules situates Dani Rodrik’s contribution with respect to the 2007–2008 global economic crisis. This financial meltdown, which the eurozone did not fully recover from before the Covid-19 pandemic, led to soul- searching among economists as well as a call for heterodox economic approaches. Yet, over the past decade, instead the economics profession has maintained its orthodoxy. Rodrik’s Economics Rules offers a critique of the economics profession that is castigating but mild. It calls (...) for economists to use more and diverse models without becoming wedded to any single model or an overarching vision. Yet Rodrik ratifies many of the benchmark models standard to orthodox economics and provides little ground for a fundamental rethinking of the discipline. This essay analyses the conservatism underlying Rodrik’s approach, which upholds general equilibrium theory and rational expectations underlying the efficient market hypothesis. It argues that the economics discipline’s scope-creep to maintain its applicability to all human decision-making, and its acceptance of all-inclusive utility functions, crowds out moral sentiments and civic virtue. Thus. it argues that rather than urging economists simply to be more cautious in their application of models to address particular social concerns, instead economists must recognise their discipline’s inherent limitations. (shrink)

Agonism as a political theory emphasizes the ontological aspect of conflict in human political interaction. This article aims to shed light on the political practice of agonism – and in doing so on its limits – by viewing 'crisis discourse' as an agonistic political practice. As my analysis of the Dutch Socialist Party and the Freedom Party’s speech in the European Sovereign Debt Crisis shows, crisis discourse aimed to (re)create a ‘people’ and to justify radical change in (...) economic and social structures. Crisis discourse is employed to construct an 'other' that can be based on ethnic and nationalist terms and to justify retroactive application of the law and the stripping of Dutch citizens of their rights. This attention to crisis discourse as an agonistic political practice highlights an unease within agonism itself: where must the agonist accepts limits to the conflict and contestation she so values? The article starts with Chantal Mouffe's answer to this question - her insistence that legitimate conflict must always recognize the shared values of equality and liberty - and proceeds to show that Mouffe's view unnecessarily relies on a deliberative democratic desire for consensus. Other than Mouffe, I draw on Honig’s emphasis of perpetual contestation to propose that the issue of limits can be best answered by reference to the core of agonistic thought: the preservation of the struggle over political norms and processes. It is not shared values or even a shared political space that matters, but that the political space of the ‘people’ – however contested membership therein might be – remains a place that the 'other' can re-enter. (shrink)

This work, in English "Struggle for power, organic crisis and judicial independence", has its origin in research academics of the IAEN carried out to provide expert advise to the Inter American Court of Human Rights in the case Quintana and others (Supreme Court of Justice) vs the State of Ecuador. The research is about the nature of the evolution of the ecuadorian state, the dynamics of its institutions, its players, parties, laws, its factors of instability, the way rights have (...) been deployed since the return to democracy in 1979, those who have benefited from neoliberal democracy and those who have paid the costs, and where in all this was the Supreme Court of Justice. The Introduction takes a look at this origin of the work and its intellectual import, provides a brief characterization of the Inter American Sistem of Human Rights Protection, how the Quintana Case fits within it, and an overview of the chapters and their logic. The first chapter analyzes the institutional and sociological factors that have contributed to Ecuador's historically unstable state, based primarily in an antagonistic struggle for power between the Executive and Legislative branches. The second chapter analyzes the economic and political factors that provoked an organic crisis, or crisis of hegemony, between 1997 and 2007 in Ecuador. The third chapter analyzes the evolution of the way in which judges are selected in Europe, the outcomes they have generated, and how they compare with the ecuadorian systems of judge selection in terms of securing judicial independence. The fourth chapter develops a theory of judicial independence in democracy and analyzes how Ecuador measures up to that standard, from when it became a neoliberal minimal democracy in 1981, to when it became a neoliberal false democracy as a consequence of instalation of a system evidently lacking in the people's support under the guise of the 1998 Constitution and its system of judge selection, and the new democratic horizons set by the 2008 Constitution, and the judicial system that springs from it. (shrink)

This paper addresses the project of philosophical autobiography, using two different perspectives. On the one hand, the societal, economic, and family contexts of William James are addressed, and connected a modern academic context of business ethics research, marketing and purchasing decision making, and the continuing financial crisis. The concepts of “stream of consciousness” and “acting as-if” are connected to recent literature on William James. On the other hand, the significance of family context, and the possible connection between the (...) William James family and the author, is addressed through shared family narratives interspersed throughout the paper. (shrink)

For the theorists of crisis, the revolutionary state comes into existence through violence, and due to its inability to provide an authoritative katechon (restrainer) against internal and external violence, it perpetuates violence until it self-destructs. Writing during extreme economic depression and growing social and political violence, the crisis theorists––Joseph de Maistre, Juan Donoso Cortés, and Carl Schmitt––each sought to blame the chaos of their time upon the Janus-faced postrevolutionary ideals of liberalism and socialism by urging a return (...) to pre-revolutionary moral and religious values. They are united by three counterrevolutionary principles, all of which are purported to remedy revolutionary violence: traditional constitutional fidelity, the philosophy of the decision, and opposition to bourgeois liberalism. This essay is followed by the first complete English translation and publication of Donoso’s letter of October 24, 1851, which contains Donoso’s only reference to the “discussing class,” a political entity later popularized by Schmitt in his 1922 work Political Theology. (shrink)

What is to be learned from the chaotic downfall of the Weimar Republic and the erosion of European liberal statehood in the interwar period vis-a-vis the ongoing European crisis? This book analyses and explains the recurrent emergence of crises in European societies. It asks how previous crises can inform our understanding of the present crisis. The particular perspective advanced is that these crises not only are economic and social crises, but must also be understood as crises of (...) public power, order and authority. In other words, it argues that substantial challenges to the functional and normative setup of democracy and the rule of law were central to the emergence and the unfolding of these crises. The book draws on and adds to the rich ’crises literature’ developed within the critical theory tradition to outline a conceptual framework for understanding what societal crises are. The central idea is that societal crises represent a discrepancy between the unfolding of social processes and the institutional frameworks that have been established to normatively stabilize such processes. The crises at issue emerged in periods characterized by strong social, economic and technological transformations as well as situations of political upheaval. As such, the crises represented moments where the existing functional and normative grid of society, as embodied in notions of public order and authority, were severely challenged and in many instances undermined. Seen in this perspective, the book reconstructs how crises unfolded, how they were experienced, and what kind of responses the specific crises in question provoked. -/- Table of Contents -/- Introduction: European Crises of Public Power: From Weimar until Today, Poul F. Kjaer & Niklas Olsen / Part I: Semantics, Notions and Narratives of Societal Crisis / 1. What Time Frame Makes Sense for Thinking About Crises?, David Runciman / 2. The Stakes of Crises, Janet Roitman / Part II: Weimar and the Interwar Period: Ideologies of Anti-Modernism and Liberalism / 3. The Crisis of Modernity – Modernity as Crisis: Towards a Typology of Crisis Discourses in Interwar East Central Europe and Beyond, Balázs Trencsényi / 4. European Legitimacy Crisis – Weimar and Today: Rational and Theocratic Authority in the Schmitt-Strauss Exchange, John P. McCormick / 5. Crisis and the Consumer: Reconstructions of Liberalism in Twentieth Century Political Thought , Niklas Olsen / Part III: The Causes of Crises: From Corporatism to Governance / 6. The Constitutionalization of Labour Law and the Crisis of National Democracy , Chris Thornhill / 7. The Crisis in Labour Law: From Weimar to Austerity Ruth Dukes / 8. From the Crisis of Corporatism to the Crisis of Governance, Poul F. Kjaer / Part IV: The Euro and the Crisis of Law and Democracy / 9. What is left of the European Economic Constitution II? From Pyrrhic Victory to Cannae Defeat Christian Joerges / 10. Reflections on Europe’s “Rule of Law Crisis”, Jan-Werner Müller. 11. Democracy under Siege: The Decay of Constitutionalisation and the Crisis of Public Law and Public Opinion, Hauke Brunkhorst/ Part V: The Consequences of Crises and the Future of Europe / 12. Crises and Extra-Legality: From Above and From Below, William E. Scheuermann / 13. “We could all go Down the Road of Lebanon” – Crisis Thinking on the Anti-Muslim Far Right, Mikkel Thorup / 14. Conclusions and Perspectives: The Re-Constitution of Europe, Poul F. Kjaer & Niklas Olsen Index . (shrink)

In the last 10 years, after becoming the official member of WTO in 2007, Vietnam has made commitments to the comply with the US-Vietnam Bilateral Trade Agreement and other international economic agreements. Vietnam has also become a member of the AEC and entered into important free trade agreements, notably the Trans Pacific Partnership. The financial integration of Vietnam in the global economy has been increasing rapidly. However, Vietnam also witnesses the unexpected economic fluctuations domestically and internationally. The global (...) financial crisis, especially the US financial crisis, exerts a major impact on Vietnam’s economy and its banking system. Accordingly, the real estate market, stock market and banking system in Vietnam have fluctuated remarkably. This article discusses the causes of the US financial crisis and analyses the US government’s solutions. The causes of the US financial crisis are distributed to lax lending standards, failures in regulations of derivates financial instruments, and lack of state control of banking systems. In this respect, recommendations are made for Vietnam’s case. (shrink)

The paper discusses the concept of "crisis" in the context of the city of Detroit's bankruptcy under the rule of the Governor-appointed Emergency Manager. In their recent book, Judith Butler and Athena Athanasiou discuss the concept of dispossession in all its complexity, in the context of enforced austerity measures in Europe and a global Occupy movement. The concept of “dispossession” clarifies how we actually depend on others in a sustained social world, that in fact the self is social. I (...) will use their reflections as a springboard for analysis of the imposition of an emergency manager on the City of Detroit and the subsequent bankruptcy hearings for the city, which along with the mortgage and foreclosure crisis and now recent water shut-offs have resulted in dispossessing the poorest of the poor from their modest possessions. However Detroit is also the scene of a robust response, as people take to the streets in acts of solidarity to demand their city back. As Athena and Butler caution, activists should not fall into reinforcing the disastrous concept of personhood reinforced by possession. There are other ways of engaging with each other politically to forge a common cause that escape the negative aspects of “possession.” The project of getting people together at the grassroots, knowing each other, finding strength in leaning on each other, finding confidence to challenge the status quo that is tearing communities apart – that is the activism that is ongoing in Detroit. (shrink)

On 4th of August 2020, the Lebanese capital and port city, Beirut, was rocked by a massive explosion that has killed hundreds and injured thousands more, ravaging the heart of the city’s nearby downtown business district and neighbouring housing areas, where more than 750,000 people live. The waterfront neighbourhood and a number of dense residential neighbourhoods in the city’s eastern part were essentially flattened. Lebanese Government officials believe that the blast was caused by around 2,700 tonnes of ammonium nitrate stored (...) near the city’s cargo port without proper control for six years. -/- The disaster devastating Beirut’s port and city shows the latent danger of safe storage of potentially dangerous goods in modern ports, particularly ones located close to the heart of the city. The huge blast tore through major grain silos, stoking fears of shortages in a nation that imports nearly all its food and is already reeling from economic crisis. As the WFP (World Food Programme) said in a statement: the blast will “exacerbate the grim economic and food-security situation.” The Beirut blast also reminds us of the importance of ports in the contemporary globalized world. It calls our attention to safety and security, of governance and collaboration between port and city or region and of accessibility to the hinterland. What do local governments and port cities need to do to enhance the safety and security issues in port terminals? Or, to put it differently, how do we reconcile this challenge between the ports we need to feed us, serve us, provide us with medicines, equipment, etc. and the ports that threatens us? (shrink)

Carl Schmitt’s critical insights into ‘economic-technical thinking’ and the dominant role that a ‘magical technicity’ is said to assume in the social horizon of his times offers an opportunity to reframe contemporary debates on political and economic theology, exposing a theological core behind technocratic administration. Starting from this premise, the article engages with recent inquiries into so-called ‘debt economy’, assessing the affective function that ‘deferment’ and ‘confession’ perform as dominant operators in the social imaginary of neoliberal governance.

Antonio Labriola in the crisis of Marxism. The article deals with the relationship between Marxism and science in Antonio Labriola’s philosophy in the years1898-­1899. In the first part, the Author looks at the content of the Postscript to Discorrendo di socialismo e di filosofia and critically analyzes Labriola’s objections to some of the central theses defended by Benedetto Croce on the theory of value and the economics of Karl Marx. In the second part, two important writings by Labriola linked (...) to the incipient debate on revisionism are examined: Polemiche sul socialismo and Sulla crisi del marxismo. In conclusion, the Author identifies in a specific conception of theory defended by Labriola the common trait between these two apparently distinct areas of inquiry. (shrink)

This research, aims to develop a conceptual framework to assess the entrepreneurial properties of the Vietnamese reform, known as Doi Moi, even before the kickoff of Doi Moi policy itself. The authors argue that unlike many other scholars’ assertion, economic crisis and harsh realities were neither necessary nor sufficient conditions for the reform to take place, but the entrepreneurial elements and undertaking were, at least for the case of Vietnam’s reform. Entrepreneurial process, on the one hand, sought structural (...) changes and kicked off innovation, and on the other hand, its induced outcome further invited changes and associated opportunities. The paper also concludes that an assessment of possibility for the next stage of Doi Moi should take into account the entrepreneurial factors of the economy and predict the emergence of new entrepreneurial facets in the next phase of economic development. (shrink)

Es generalmente aceptado que la relación entre la crisis económica actualmente en desarrollo y la pandemia de enfermedad por coronavirus es de tipo causal, esto es, se afirma que la pandemia ha causado la crisis. El objetivo de este trabajo es argumentar que este vı́nculo no cumple con los requisitos para ser definido como una relación de causalidad y se propondrá la noción de relación develadora para dar cuenta de la interacción entre ambos sucesos. El trabajo se desarrolla (...) de la siguiente manera: en primer lugar, se sitúa el problema dentro del campo de la filosofı́a de la economı́a. En segundo lugar, se desarrollan los argumentos para mostrar que la relación entre coronavirus y crisis no es de tipo causal. En tercer lugar, se recurre al concepto de alétheia para construir la noción de relación develadora. Finalmente, se establece que el rol del virus ha sido des-ocultar la incapacidad sistémica del orden mundial para hacer frente a diversas amenazas, incluida la actual pandemia. (shrink)

The current appeal of non-standard economic alternatives is backgrounded against the vulnerability of mainstream capitalism to meltdown and crisis as shown in recent times. There is an increasing number of governments, institutions, and civil societies (NGOs) that have been advocating economic systems, structures, or dynamics that would promote the good of the human person (dignity, personhood, values, and worth). People have started to realize that doing economics is not always within the realm of rationalized judgments and mathematized (...) calculations (highly impersonal) but must look after the human person, at all costs. This paper attempts to contribute to this agendum by employing an interdisciplinary dialogue between theology and economics; drawing a moral-cultural framework towards a compassion-based economics. Together with the positive traits of today’s economic alternatives and the salient features of Jesus’ praxis of compassion, this paper would offer fourteen (14) criteria as basis for what could be the most feasible base/locus for an economics of compassion. Eventually, what has been considered as the suitable base/locus is the Basic Ecclesial Communities (BECs). Hence, a BEC-based Economics of Compassion or BEC-EC. (shrink)

The dissemination of information in times of crisis or emergency is distinctive since the affected individuals may take, process, and act on information differently. As the Centers for Disease Control and Prevention noted “the right message at the right time from the right person can save lives.” This study elaborates on the principles of crisis and emergency risk communication (CERC) in the realistic narrative, and notes that a successful CERC should be prompt, accurate, veracious, empathetic, respectful, and promote (...) meaningful action. Since pandemics are not only biomedical but also social, political, economic, and cultural incidents, critical communication in the time of a pandemic is of crucial significance. Hence, the Coronavirus (COVID-19) pandemic is assessed as a recent and important case study. This pandemic had four chief challenges; including that since the disease is caused by the novel SARS-CoV-2 virus the assumptions about the disease have been revised numerously and rapidly. In addition, the cumulative scale and scope of COVID-19 which is in excess of 627 million confirmed cases, and approximately 6.58 million deaths worldwide remained a strain. Another concern was the overwhelming uncertainty and evolving trajectory of the pandemic about how and when it ends or enters the endemic stage of the outbreak. Finally, the overabundance of amplification and dissemination of both accurate and inaccurate information led to an infodemic. Long before the COVID-19 pandemic, many individuals used the internet as an important resource for seeking health-related information. However, the infodemic and the other aforementioned challenges made distinguishing up-to-date accurate information a more arduous task, and CERC and pandemic-related communication are even more crucial. Hence, a multi-dimensional set of skills is required to overcome these challenges whether amidst or after the pandemic. Therefore, a multi-stakeholder approach towards an overarching and comprehensive metaliteracy that “provides an integrated and inclusive framework to cultivate critical thinking and proficiency in comprehending data, information, visuals and the media” is essential. This study recommends and elaborates on how to incorporate metaliteracy into crisis and risk communication at governmental, organizational, and individual levels. (shrink)

Psychological well-being is a major global concern receiving more scholarly attention following the 2008 Great Recession, and it becomes even more relevant in the context of COVID-19 outbreak. In this study, we investigated the impact of economic uncertainty resulting from natural disasters, epidemics, and financial crisis on individuals' mental health. As unemployment rate exponentially increases, individuals are faced with health and economic concerns. Not all society members are affected to the same extent, and marginalized groups, such as (...) those suffering from chronic mental illnesses or low-income families cannot afford the downsizing, mass lay-offs and lack of access to public health services. Psychiatric profession is familiarized with the phenomenon of intolerance of uncertainty (IU), and we examine how this concept is associated with job uncertainty and social identity disturbance. Several studies have formally investigated the effects of IU, but to our knowledge, this is the first research integrating the psychological well-being, job uncertainty and identity disturbance caused by economic breakdown. Literature points to many reported cases of PTSD, anxiety, depression and suicidal tendencies following major social disasters. Yet, we have undertaken to analyze the subjective experiences underlying the self-harming behaviors in an attempt to fill the methodological gap by drawing insights from prominent psychological, sociological and economic theories. We find economic uncertainty to have a positive relation to job uncertainty and identity disturbance, and a negative relationship with psychological well-being. Psychological well-being depends on coherency between both abstract subjective and concrete objective identity, and when these perceptions are inconsistent, cognitive dissonance arises resulting in identity disturbance. We argue that stability is not associated with monetary advantage only, but also with a wide range of other benefits that are crucial for individuals' growth, satisfaction and sense of identity. Therefore, we propose the implementation of social support and public welfare policies to mitigate health risks during the turbulent socio-economic changes. (shrink)

We propose to understand the global financial crisis of 2008 as an historical event marked by public decisions, economic evaluations and ratings, and business practices driven by a sense of subjugation to powerful others, uncritical conformity to serendipitous rules, and a levelling down of all meaningful differences. The crisis has also revealed two important things: that the free-market economy has inherent problems highlighting the limits of (financial) business, and, consequently, that the business organisation is not as strong (...) as is usually assumed. We reconstruct some of the most dramatic events of that time by using the narratives of two former Lehman Brothers insiders. We then provide an interpretation of that world by using Heidegger’s notions of being and care. Our investigation uncovers persistent inauthentic relationships nourished by the public structure of the financial market, which, drawing on Heidegger, we call the they. In the financial market the what of the world becomes more important than authentic being and self. But a hitch-free switch to authenticity becomes possible through anxiety and the call of conscience. (shrink)

This paper evaluates the economic effects of a politically communitarian model of family ties towards the pension crisis in developing countries. The use of a Canadian - an individualist-oriented political economic pension system - is compared to a religiously and culturally communitarian form of family care in Bangladesh, a country slowly feeling the effects of the pension crisis. The analysis concludes, based on theoretical and economic evidence, that it is not in the social or (...) class='Hi'>economic interest of Bangladesh or similar countries to use the same policies currently being deployed by Canada and most other OECD countries. This paper is the first of its kind to apply socioeconomic costs and benefits of developed countries’ policies and apply them to the context of a developing country—keeping in mind the cultural aspect and its implications. It aims at bringing back original ethical and moral values with a social orientation that should inspire all stakeholders to ensure family self-regulation that converge toward a solid foundation of communitarian principles. (shrink)

From the perspectives of early warning and identification of risk, risk quantification and analysis, also as risk management, we propose recommendation, which includes analysis of citizen behavior in panic, cooperation of the institutions in Romania. The whole analysis will be performed from a perspective of the field of economic cybernetics. The 2019-nCoV coronavirus epidemic started in China's Wuhan city, which has spread throughout the country and subsequently, in a very short period of time, in several states, being viewed as (...) a global contagion effect that causes great concern. As the virus gets closer to Romania, it becomes worrying and citizens are already panicking. Therefore, in this article we will analyze, according to public data, what is the current situation and how well Romania is prepared to manage the risks arising from the confirmation of COVID-19 in the country and how the behavior of citizens in a state of panic is influenced. In addition, we analysed the medical system from Romania from the point of view of the analysis of the management of the viable system, in the situation of pandemic crisis the medical system being one of the sensitive points of any system. (shrink)

This article aims to explore, through the civil society’s opinion, the polarisation between ‘winners’ and ‘losers’ and the group of the ‘new excluded’, or ‘new poor’, that has emerged as a result of the European economic crisis and the social transformations that followed in the Greek society. Based on the Theory of Justice introduced by John Rawls (1971), and using the approach of Critical Discourse Analysis, this study focuses on the discourse analysis of the perception of 97 representatives (...) of local and national NGOs, both formal and informal. The main results focus on different self and others’ presentations, especially during the economic crisis, and on the creation of an unbalanced, fragmented and exclusion-cantered society. However, the definition of rich and poor appears ambiguous through the analysis of various linguistic strategies of Greek NGOs revealing a hidden face of the society. (shrink)

The authors of the book have come to the conclusion that it is necessary to effectively use the methodological tools for assessing the competitiveness of financial and insurance markets, methodological approaches to assessing the effectiveness of regional policy, internal audit of resources. Basic research is aimed at researching the main trends in the international economy, socialization of global economic development, investment aspects of development countries, functioning of consumer market in the international economic system, trends of international population migration, (...) processes of European integration in the field of energy efficiency. The research results have been implemented in the different models of the behavior of the economic system in the conditions of crisis, provision competitiveness of national economy in the face of increasing burden of public debt. The results of the study can be used in decision-making at the level of international business, ministries and departments that regulate international relations, ensuring security and overcoming risks. The results can also be used by students and young scientists in modern concepts of the formation of international economic relations in the context of strengthening European integration processes and globalization of the economy. (shrink)

The financial crisis of 2008–2009 presents us with the opportunity to not only understand what has happened in the markets but also to reflect on the purpose of the marketplace. Drawing from expert economic analyses, we first assess the central lesson of the crisis—the failure of self-regulation by rational self-interest to moderate externalized risk in financial markets. Second, we ask the philosophical question occasioned by the crisis concerning the moral meaning of economic activity: Is market (...) exchange solely for the sake of self-interest? Reflecting on the poetry of Kahlil Gibran and engaging with the recent encyclical of Pope Benedict XVI, we turn our attention from political economy to moral economy: the relationships among market exchange, self-interest, and the common good—and, in particular, the prior conditions of market exchange and their moral significance for the present crisis. (shrink)

Forests play fundamental roles in the Earth’s ecosystems. With the great capability of carbon sequestration, tropical forests are expected to contribute substantially to reducing the CO2 in Earth’s atmosphere. However, global tropical forest areas have declined drastically over the last few decades due to pressures from socio-economic development pursuit. The current essay aims to demonstrate the ongoing global deforestation crisis and its underlying drivers and discuss the vital roles of tropical forests in the socio-economic development in the (...) face of climate change when developed countries start to tighten the carbon emission control regulations (e.g., European Union’s Carbon Border Adjustment Mechanism). It suggests why developing countries in tropical regions, particularly Vietnam, should not sacrifice forests for short- and medium-term socio-economic goals but capitalize on them to leverage long-term development. Moreover, evidence of Vietnamese political leaders’ commitment to forest protection and sustainable development is also provided. (shrink)

The coronavirus catastrophe that we are experiencing is first of all the result of an ecological catastrophe, but its underlying fundamental cause is the political crisis that our democracies are living. The sustainable development model is a smokescreen that will lead not to making deepgoing changes to the economic paradigm but to continuing with business as usual. The betrayal of the elites, both political and economic, supported by a system that is no longer democratic, has exposed the (...) population to this type of sanitary problem. A deep transformation of our political system is urgently needed. The people must take part in a true democracy, a direct democracy, that initiates a new democratic revolution capable of countering the sinister interests of the elites, of the caste in power. (shrink)

The aim of this article is to show how both Jan Patočka and Jürgen Habermas, starting from a reinterpretation of the idea of «lifeworld», engaged a critique of modern civilisation, aiming (with different outcomes) at a redefinition of the concept of political community. In order to achieve this goal, I firstly focus on Patočka’s understanding of modern rational civilisation and its attempt to fix the fracture between «life» and «world». At this stage, I take also advantage of Hans Blumenberg’s distinction (...) between these two terms, in order to better clarify Patočka’s stance on this problem. Secondly, I analyse Habermas’ ideas of lifeworld and system, and their uncoupling in modern societies, as well as the reemergence of this issue in Habermas’ recent works on the European economic and political crisis. Finally, I focus on the very different ways in which Patočka and Habermas tackled the ideas of conflict and crisis in contemporary world, also in view of a possible path out of this crisis through a re-constitution of Europe. (shrink)

This examination makes the case that the tradition of Christian Platonism can constitute a valuable resource for addressing the long-running and increasingly-acute environmental crisis that threatens the global ecosystem and all who inhabit it. More than a scientific, technological or political challenge, the crisis requires a fundamental shift in the way humans understand nature and their place within it. Key to implementing this shift is the need to address the problematic anthropocentric conceptualisation of nature characteristic of the contemporary (...) social imaginary that determines a wide range of present day economic, religious and scientific perspectives. The case made here is that Christian Platonism, and in particular its participatory ontology, can offer a radically non-anthropocentric alternative to the present-day understanding of nature, reconceptualising the way we understand the meaning, value, and way we know nature. (shrink)

Since the sharing economy is a rather new phenomenon, there is still no official definition of it in the legal framework of Croatia. The continuous development of sharing economy started a few years after the 1998 global and domestic economic crisis stroked Croatia. Namely, a total of eight platforms in the sectors of transportation, accommodation, finance, and online skills could be identified. The total market share of these platforms amounts to estimated market revenue of roughly 106 million EUR. (...) When compared to the other EU Member States, it could be noticed that Croatia falls within the group of countries with a below-average performance by a number of platforms per 1 million population, as well as in the level of revenues compared to national GDP. Figures that are more promising can be detected regarding the collaborative economy’s contribution to national employment, which positions Croatia within the EU average. Future studies should explain in greater depth how the sharing economy poses several new challenges for regulators in Croatia and countries across the EU. In particular, policymakers must comprehend the big picture and provide regulatory guidelines to manage the long-term changes in job markets, public safety, competition, and digital trust. (shrink)

During the current financial crisis, the need for an alternative to a laissez-faire ethics of capitalism (the Milton Friedman view) becomes clear. I argue that we need an order ethics which employs economics as a key theoretical resource and which focuses on institutions for implementing moral norms. -/- I will point to some aspects of order ethics which highlight the importance of rules, e.g. global rules for the financial markets. In this regard, order ethics (“Ordnungsethik”) is the complement of (...) the German conception of “Ordnungspolitik” which also stresses the importance of a regulatory framework. This framework is needed not to tame the market, but to make it more profitable in the long run. -/- The conception of order ethics relies heavily on contractarianism, especially on James Buchanan’s work. Unlike many other conceptions of ethics, it does not start with an aim to achieve, but rather with an account of what the social world – in which ethical norms have to be implemented – is like. Our social world is different from the pre-modern one. Pre-modern societies played zero-sum games in which people could only gain significantly at the expense of others. And the types of ethics that we are still used to today have been developed within these pre-modern societies. -/- Modern societies, by contrast, can be characterised – by economists and other social theorists alike – as societies with continuous growth. This growth has only been made possible by the modern competitive market economy which enables everyone to pursue his own interests within a carefully devised institutional system. In this system, positive sum games are played, which makes it in principle possible to improve the position of every individual at the same time. Most kinds of ethics, however, resulting from the conditions of pre-modern societies, ignore the possibility of win-win-situations and instead require us to be moderate, to share, to sacrifice, as this would have been functional in zero-sum games. These conceptions distinguish – in more or less strict ways – between self-interest and altruistic motivation. Self-interest, more often than not, is ultimately seen as something evil. -/- Such an ethics cannot be functional in modern societies. Ethical concepts lag behind. Within zero-sum games, it was necessary to call for temperance, for moderate profits, or for a condemnation of lending money at interest. Within positive-sum games, however, the morally desired result of a social process cannot be brought about by changes in motivation, by switching from ‘egoistic’ to ‘altruistic’ motivation. The second theoretical element introduced by order ethics is the distinction between actions and rules, which was already mentioned. Traditional ethics concerns actions: It calls directly for changes in behaviour. This is a consequence of pre-modern conditions as reconstructed before: People in the pre-modern world were only able to control their actions, not so much however the conditions of their actions. In particular, rules like laws, constitutions, social structures, the market order, and also ethical norms have remained stable for centuries. In modern societies, this situation has changed entirely. The rules governing our actions have increasingly come under our control. -/- In this situation, ethics has to focus on rules. Morality must be incorporated in incentive-compatible rules. Direct calls for changes in behaviour without changes in the rules lead only to an erosion of compliance with moral norms. Individuals that continue to behave ‘morally’ will be singled out, because the incentives have not been changed. Moral norms which are to be justified cannot require people to abstain from pursuing their own advantage. People abstain from taking ‘immoral’ advantages only if adherence to ethical norms yields greater benefits over the planned sequence of actions than defection in the single case. Thus ‘abstaining’ is not abstaining in the long run, it is rather an investment in expectations of long-term benefits. By adhering to ethical norms, I become a reliable partner for interactions. The norms do indeed constrain my actions, but they simultaneously expand my options in interactions. And people consent to rules only if these rules hold greater advantages for them, at least in the long run. -/- In general, ethics cannot require people to abandon their individual calculation of advantages. However, it may suggest improving one’s calculation, by calculating in the long run rather than in the short run, and by taking into account the interests of our fellows, as we depend on their acceptance for reaching an optimal level of well-being, especially in a globalized world full of interdependence. -/- The problem of implementation can now be placed at the beginning of a conception of order ethics, justified with reference to the conditions of modern societies I have sketched. Under the conditions of pre-modern societies, an ethics of temperance had evolved that posed simultaneously the problems of implementation and justification. The implementation of well-justified norms or standards could then be regarded as unproblematic, because the social structures allowed for a direct face-to-face enforcement of norms. Pre-modern societies not only favored an ethics of temperance, they also had the instrument of face-to-face-sanctions within their smaller and non-anonymous communities. This instrument is no longer functional in modern anonymous societies, and so we have to face up to the problem of implementation right at the start of our ethical conception. Simultaneously, an order ethics relies on the implementation of sanctions for enforcing incentive-compatible rules. In modern societies, rules and institutions, to a large extent, must fulfil the tasks that were, in pre-modern times, fulfilled by moral norms, which in turn were sanctioned by face-to-face sanctions. Norm implementation in modern societies thus works by setting adequate incentives in order to prevent the erosion of moral norms, which would happen if ‘moral’ actors were systematically threatened with exploitation by other, less ‘moral’ actors. -/- This conception of order ethics is then elaborated further in the area of business ethics. -/- . (shrink)

This paper tackles the asymmetry of economic interests and geopolitics between developed and developing countries. Currently, the geopolitics presupposes that the majority of novel technologies are devised and designed in developed countries with their subsequent transfer to the developing countries. Moreover, in the context of the global crisis, the issue of de-dollarization is relevant from the political and economic points of view. Our specific focus is on the small oil countries and the issue how to get off (...) the oil needle in the painless way. Furthermore, the paper analyzes the rise of cryptocurrency that is envisaged as the substitute of the U.S. dollar which has been the world most dominating currency for the last several decades. This paper considers the global asymmetry which has the greatest impact on countries with economies dependent on energy exports. In the light of the diminishing returns from the sale of oil, we examine the ways for escaping this asymmetry. The authors consider the geopolitical asymmetry stemming from the dominance of the U.S. dollar, analyze the political situation and offer the pathways for the development of those economies where oil become an obstacle for economic development. The paper examines the ways of solving the above-mentioned problem by other states in detail and conduct the comparative analysis of the above issues in relation to the economy of Azerbaijan. From this case study we conduct a comparative analysis of the developed and developing countries taking into account the economic asymmetry and global economic and financial security. (shrink)

Unification of natural science and social science is a centuries-old, unmitigated debate. Natural science has a chronological advantage over social science because the latter took time to include many social phenomena in its fold. History of science witnessed quite a number of efforts by social scientists to fit this discipline in a rational if not mathematical framework. On the other hand a tendency among some physicists has been observed especially since the last century to recast a number of social phenomena (...) in the mould of events taking place in physical world and governed by well-known systems and equations of physics. It necessitated the introduction of social physics as a new inter-disciplinary subject. Obviously this attempt is aimed at explaining hitherto unsolved or highly debated issues of social science. Physicists are showing special interest on problems on economics, ranging from some topics of normative economics to the movement of prices of derivatives. Statistics has been widely used in these attempts and at least two sub-disciplines of the subject, namely, stochastic process and time series analysis deserve special mention. All these research activities gave birth to another inter-disciplinary subject named as econophysics. Interestingly, global financial crisis of 2007–08 has revived the need of determination of prices of derivatives in a more accurate manner. This article adumbrates a sketch of the theoretical synthesis between physics and economics and the role played by statistics in this process. (shrink)

In the last 10 years, after becoming the official member of WTO in 2007, Vietnam has made commitments to the comply with the US-Vietnam Bilateral Trade Agreement and other international economic agreements. Vietnam has also become a member of the AEC and entered into important free trade agreements, notably the Trans-Pacific Partnership. The financial integration of Vietnam in the global economy has been increasing rapidly. However, Vietnam also witnesses the unexpected economic fluctuations domestically and internationally. The global financial (...) crisis, especially the US financial crisis, exerts a major impact on Vietnam’s economy and its banking system. Accordingly, the real estate market, stock market and banking system in Vietnam have fluctuated remarkably. This article discusses the causes of the US financial crisis and analyses the US government’s solutions. The causes of the US financial crisis are distributed to lax lending standards, failures in regulations of derivates financial instruments, and lack of state control of banking systems. In this respect, recommendations are made for Vietnam’s case. (shrink)

In the wake of the global financial crisis of 2008, the greatest economic disaster since the Great Depression, the cover story of the July 18th 2009 issue of The Economist, entitled “What went wrong with economics,” opened with an unequivocally incriminating statement: “Of all the economic bubbles that have been pricked, few have burst more spectacularly than the reputation of economics itself.” In the months surrounding this indictment, many influential economists, including several Nobel laureates, were drawn to (...) the same embarrassing conclusion. Despite the existence of a handful of Cassandras, economists, as a group, had failed to foresee the crash. This short essay reviews the criticisms addressed to modern economic theory in the immediate aftermath of the crash. Overall, the main issues raised by critics were that (a) economists versed in the dominant models in macroeconomics and finance have been blinded to the possibility that we live in an uncertain and complex world; and (b) that the content of current economics education has sidelined many of the relevant insights to be found in the history of the discipline. This has led the critics to call for changes in the institutional structure of discipline, with a particular emphasis on the promotion of interdisciplinarity, and theoretical and methodological pluralism. (shrink)

The idea of Europe has already a long history and beyond its ethical attractiveness it became victorious in the political praxis of the 2nd half of the 20th century first of all as a motive force serving the aim of a long-term restoration of peace in the post-war Western Europe and then as a unifying principle for the whole continent after the collapse (implosion) of “really existing socialism”. A little later, in the course of the expansion of the free market (...) economy towards the previously centralized economies of Eastern Europe it soon became obvious that the idea of Europe was not everywhere interpreted the same way and that in some cases it seemed to cause more problems than the ones it should have solved. Especially the current refugee crisis that has initially emerged in the so-called developing world outside of Europe but nevertheless significantly affects the Old Continent can be seen as a major theoretical and practical challenge around the fundamental sustaining (and in itself sustainable) concept of European openness: i.e. in order to remain open in its internal function the liberally organized Europe has to close its outer borders and to decisively limit the access of many humans to its single common market, thus imposing obstacles to the generalization of prosperity and liberty that once were felt as its core values. We will try to show that apart from the immediate cultural, ideological and strategic aspects of such phenomena and the often unavoidable pitfalls of short-term decision making it is important to study and explore the necessity of the current processes. The idea of Europe became, at least partly, synonymous with the overall economical and social globalization of our times whereas such a major process cannot unfold its inherent dynamic without the constitutive role of certain crises that eventually pose existential challenges or otherwise enable the stabilization of the newly emerging system(s). (shrink)