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The purpose of the research is to determine the social consequences of economic globalization based on experience of developed and developing countries and to determine the perspectives of optimization of this process through regulation.

The research method is correlation analysis, for it allows determining dependencies between the indicators without requirements to their close mutual dependence. The research objects are top ten developed and top ten developing countries as to the KOF globalization index in 2019.

It is determined that, contrary to high economic risks, social risks of globalization are very low. Instead of this, in the course of globalization the social advantages increase – they are expressed in the form of harmonization of the labor market, development of digital society and increase of population's quality of life – in particular, provision of balance of the global society by leveling the social disproportions between developed and developing countries. It is substantiated that consequences that stimulate the increase of population's quality of life in developing countries are more expressed than in developed countries. This means that developing countries, which are traditionally more inclined to limiting the influence of globalization on them due to economic reasons, have to reconsider their foreign economic policy and include the measures on stimulation of globalization in the interests of social development. Other than that, the differences in consequences for developed and developing countries are minimal. There is no imbalance of consequences that is peculiar for the economic sphere, in which the main advantages are obtained by developed countries, and developing countries bear most of the costs. From the social point of view, globalization could be characterized as a positive phenomenon of modern times.

The offered authors' recommendations will allow optimizing the influence of globalization on the social environment in developed and developing countries and ensuring usage of economic globalization as a mechanism of implementation of the global goals in the sphere of sustainable development.

The purpose of this paper is to explore the long-run economic structure and economic policy consequences of wide-spread blockchain adoption.

The approach uses institutional, organisational and evolutionary economic theory to predict consequences of blockchain innovation for economic structure (dehierarchicalisation) and then to further predict the effect of that structural change on the demand for economic policy.

The paper makes two key predictions. First, that blockchain adoption will cause both market disintermediation and organisational dehierarchicalisation. And second, that these structural changes will unwind some of the rationale for economic policy developed through the twentieth century that sought to control the effects of market power and organisational hierarchy.

The core implication that the theoretical prediction made in this paper is that wide-spread blockchain technology adoption could reduce the need for counter-veiling economic policy, and therefore limiting the role of government.

The paper takes a standard prediction made about blockchain adoption, namely disintermediation (or growth of markets), and extends it to point out that the same effect will occur to organisations. It then notes that much of the rationale for economic policy, and especially industry and regulatory policy through the twentieth century was justified in order to control economic power created by hierarchical organisations. The surprising implication, then, is that blockchain adoption weakens the rationale for such economic policy. This reveals the long-run relationship between digital technological innovation and the regulatory state.

The purpose of this paper is to present issues and challenges of scheduled maintenance task development within the maintenance review board (MRB) process, and to find potential areas of improvement in the application of the MSG‐3 methodology for aircraft systems.

The issues and challenges as well as potential areas of improvement have been identified through a constructive review that consists of two parts. The first part is a benchmarking between the Maintenance Steering Group (MSG‐3) methodology and other established and documented versions of reliability‐centred maintenance (RCM). This benchmarking focuses on the MSG‐3 methodology and compares it with some RCM standards to identify differences and thereby find ways to facilitate the application of MSG‐3. The second part includes a discussion about methodologies and tools that can support different steps of the MSG‐3 methodology within the framework of the MRB process.

The MSG‐3 methodology is closely related to the RCM methodology, in which the anticipated consequences of failure are considered for risk evaluation. However, MSG‐3 considers neither environmental effects of failures nor operational consequences of hidden failures. Furthermore, in MSG‐3, the operational check (failure‐finding inspection) is given priority before all other tasks, whereas in RCM it is considered as a default action, where there is no other applicable and effective option. While RCM allows cost‐effectiveness analysis for all failures that have no safety consequences, MSG‐3 just allows it for failures with economic consequences. A maintenance program that is established through the MRB process fulfils the requirements of continuous airworthiness, but there is no foundation to claim that it is the optimal or the most effective program from an operator's point‐of‐view. The major challenge when striving to achieve a more effective maintenance program within the MRB process is to acquire supporting methodologies and tools for adequate risk analysis, for optimal interval assignments, and for selection of the most effective maintenance task.

The paper presents a critical review of existing aircraft scheduled maintenance program development methodologies, and demonstrates the differences between MSG‐3 and other RCM methodologies.

With a start in the observation that there is a large variation in how companies interact with each other, the paper aims to anlayse the economic consequences of this variation. As the more extensive interaction is costly, the variation also indicates a variation in the economic dimension.

This is a conceptual paper.

Three different economic streams can be identified. Firstly, the interaction costs can be reduced by taking advantage of time and scope. Interaction over time give opportunity to use some of the costs as investments through creation of relationships. By using the same counterpart for several products, scope can be used to reduce interaction costs. Secondly, developed business relationships can be used to create relation revenues. The counterparts can use each other for developing better solutions and for development of knowledge. Finally, the actors can also get positive network effects. One example is the joint development with third parties such as sub-suppliers or customer’s customer.

The discussion ends in two major implications. One is the central role of managers and the other the crucial role of economic deals. Managers are crucial both to identify relevant cost and revenue items as well as to exploit them. Deals are important as it is only with direct counterparts where there are monetary streams. In all other relationships, there is only indirect consequences.

It is obvious that the type of cost and revenue streams identified above will require new and different economic tools. A base for this is given here.

Here Marx's philosophy is dissected from the angle of bourgeois capitalism which he, Marx, sought to overcome. His social, political and economic ideas are criticised. Although it is noted that Marx wanted to ameliorate human suffering, the result turned out to be Utopian, contrary to his own intentions. Contrary to Marx, it is individualism that makes the best sense and capitalism that holds out the best hope for coping with most of the problems he sought to solve. Marx's philosophy is alluring but flawed at a very basic level, namely, where it denies the individuality of each person and treats humanity as “an organic body”. Capitalism, while by no means out to guarantee a perfect society, is the best setting for the realisation of the diverse but often equally noble human goals of its membership.

The several decades following the conclusion of World War II evidenced the generalised application of activist economic policies oriented toward the stimulation and manipulation of aggregate demand. In Western Europe and in much of the Western hemisphere these policies proved quite successful in raising living standards and generating economic growth. Nevertheless, for the past decade or so these long‐tried policy prescriptions have not appeared to work very well, and “stagflation” accompanied by low productivity growth has set in. As a consequence, there has occurred a return to a more “classical” set of economic postulates and policy prescriptions. Such policies have been adopted not only in the more developed parts of the western world (e.g., United States, Great Britain) but also in its lesser developed areas. Nowhere has this application been more in evidence than in the Southern Cone countries of Latin America — Argentina, Chile, and Uruguay.

The purpose of this paper is to outline the cause of global warming, its trends and consequences as indicated by the International Panel on Climate Change. Sea‐level rise is one consequence of particular concern to Pacific Island states. It also reviews the views of economists about connections between economic growth and global warming.

International efforts, such as through the Kyoto protocol, to reduce greenhouse gas emissions and their atmospheric concentration are discussed and prospects for post‐Kyoto policies are considered. Ways are also examined of addressing the consequences of global warming for the Pacific Island states. How they will be affected and to what extent is discussed, together with their ability to cope with the emerging problem.

The paper finds that whereas the majority of economists did not foresee a conflict between economic growth and global warming, the possibility of such a conflict is now more widely recognized following the Stern Report. It is predicted that a significant reduction in global greenhouse gas emissions is unlikely to be achieved in the foreseeable future owing to conflicting national interest (a prisoners' dilemma problem) and because is will take time to develop new technologies which will reduce greenhouse gas emissions. However, payment for greenhouse gas emissions (for example, via tradable permits) will accelerate desirable technological advance. Both international political action and efforts to develop and use technologies that lower greenhouse gas emissions need to be pursued. Given current and likely increases in greenhouse gas emissions, continuing global warming in this century (and beyond) appears to be inevitable and consequently Pacific Island states will be adversely affected by sea‐level rise and climate change.

The paper emphasizes that Pacific Island states will suffer great hardship from global warming but are ill‐placed geographically, financially and administratively to prevent or adjust to the possible environmental disasters that await them. Nothing may save some from eventual environmental annihilation.

After the precipitated decline of the Soviet Empire and its satellite states, a system change seemed to be called for, and many countries embarked on social and political reforms focussing on property structures in the economy. This raised the issue of governance in the institutions that would constitute the structures in which production would have to take place. In particular, some Central European countries opted for mass privatisations of the means of production, on the face of it so as to have the people participate in the wealth of the nation. In fact, the wealth of the nation depends on the structures in which it is constituted. Dissipation of property rights will reduce the value of the nation's productive capital, whereas an intelligent structure that creates good governance structures at the same time, increases the value of the producing capital. This relatively simple insight lies at the heart of our understanding of how to analyse different processes of mass privatisation. This essay develops a theoretical framework by which different governance structures can be analysed. The framework consists of a blend of the economic theory of property rights, new institutional economics and Austrian economic theory.

Suggests scenarios for future images of what one commonly calls the European Union (EU). Many architects have laid plans for the future of Europe. Numerous forces have exerted and continue to exert their influences on Europe and its future. The net effect of these forces will precipitate the future for unification efforts and Europe. Asserts that the images held by many about the future for the EU are very different from what will transpire. Underlying and significant social, political and economic forces will provide for significant differences in what people expect and what actually will transpire. The implications of the eventual developments will profoundly affect key areas of concern. For one, we will witness significant differences in business risks associated with Europe. Furthermore, the consequences of unification efforts will influence investment decisions, commonization of taxes and currencies, the standard of living and the movement of human capital. Offers some images of the future Europe. Provides perspectives concerning the forces at work within the EU and the adverse consequences that will result, and specific predictions for Europe and the potential implications for business and society.