Search results

Aim of the present monograph is the economic analysis of the role of MNEs regarding globalisation and digital economy and in parallel there is a reference and examination of some legal aspects concerning MNEs, cyberspace and e‐commerce as the means of expression of the digital economy. The whole effort of the author is focused on the examination of various aspects of MNEs and their impact upon globalisation and vice versa and how and if we are moving towards a global digital economy.

A collection of essays by a social economist seeking to balance economics as a science of means with the values deemed necessary to man′s finding the good life and society enduring as a civilized instrumentality. Looks for authority to great men of the past and to today′s moral philosopher: man is an ethical animal. The 13 essays are: 1. Evolutionary Economics: The End of It All? which challenges the view that Darwinism destroyed belief in a universe of purpose and design; 2. Schmoller′s Political Economy: Its Psychic, Moral and Legal Foundations, which centres on the belief that time‐honoured ethical values prevail in an economy formed by ties of common sentiment, ideas, customs and laws; 3. Adam Smith by Gustav von Schmoller – Schmoller rejects Smith′s natural law and sees him as simply spreading the message of Calvinism; 4. Pierre‐Joseph Proudhon, Socialist – Karl Marx, Communist: A Comparison; 5. Marxism and the Instauration of Man, which raises the question for Marx: is the flowering of the new man in Communist society the ultimate end to the dialectical movement of history?; 6. Ethical Progress and Economic Growth in Western Civilization; 7. Ethical Principles in American Society: An Appraisal; 8. The Ugent Need for a Consensus on Moral Values, which focuses on the real dangers inherent in there being no consensus on moral values; 9. Human Resources and the Good Society – man is not to be treated as an economic resource; man′s moral and material wellbeing is the goal; 10. The Social Economist on the Modern Dilemma: Ethical Dwarfs and Nuclear Giants, which argues that it is imperative to distinguish good from evil and to act accordingly: existentialism, situation ethics and evolutionary ethics savour of nihilism; 11. Ethical Principles: The Economist′s Quandary, which is the difficulty of balancing the claims of disinterested science and of the urge to better the human condition; 12. The Role of Government in the Advancement of Cultural Values, which discusses censorship and the funding of art against the background of the US Helms Amendment; 13. Man at the Crossroads draws earlier themes together; the author makes the case for rejecting determinism and the “operant conditioning” of the Skinner school in favour of the moral progress of autonomous man through adherence to traditional ethical values.

The purpose of the article is to analyze the contradictory trends in the development of the modern world economic system. The relevance of the topic is due to the multifaceted and ambiguous nature of regionalization, glocalization and fragmentation tendencies formed as the most important trends in the crisis of globalism.

Based on the classical methods of historical and functional analysis, system approach and comparative studies, the authors realized the research potential of modern methodological tools, alternative forecasting methods and comparative modeling, as well as special methods of economic globalistics and global political economy. Heuristic possibilities of the methodological–theoretical concept of glocalization of international economic relations are used.

New directions and opportunities for attaining regional and global geo-economic leadership are revealed and demonstrated. It is justified that glocalization does not lead to economic isolation in previously known historical forms but to priority realization of the interests of local economic entities included in the processes of globalization and subordinated to its patterns. Glocalization causes an increase in the role of local factors in the global development of the society, in particular of the global economy.

It is established that the so-called equilibrium zones (enjoying the advantages of an intermediary role in the interrelationships of large areas of the world economy, which are headed by geo-economic leaders) possess the potential for novelty in the dynamics of a globalizing economy. The article predicts the formation of a multidimensional and multilevel geo-economic multipolarity due to the reshaping of the global system of leadership in the world economy and due to the contradictory competitive relationships of its main centers.

Nobody concerned with political economy can neglect the history of economic doctrines. Structural changes in the economy and society influence economic thinking and, conversely, innovative thought structures and attitudes have almost always forced economic institutions and modes of behaviour to adjust. We learn from the history of economic doctrines how a particular theory emerged and whether, and in which environment, it could take root. We can see how a school evolves out of a common methodological perception and similar techniques of analysis, and how it has to establish itself. The interaction between unresolved problems on the one hand, and the search for better solutions or explanations on the other, leads to a change in paradigma and to the formation of new lines of reasoning. As long as the real world is subject to progress and change scientific search for explanation must out of necessity continue.

The purpose of this paper is to examine a much‐overlooked aspect of the rise of China: when will it end? Obviously, the Chinese economy will not grow at an annual rate of 10 percent forever. At some point Chinese growth will stabilize. When is of vast importance for the political, economic, and ecological future of the world.

Data from the World Development Indicators database are used to benchmark the recent economic growth of China (and India) to the long‐term trajectory of Brazil. A structuralist approach derived from world‐systems analysis predicts that Chinese growth will stabilize once China reaches an equilibrium income level characteristic of the semiperiphery of the world‐economy.

Based on recent trends, the structuralist perspective suggests that China's extraordinary rate of economic growth will fall back to global norms after 2020. China is unlikely to reach US or EU levels of total national income before mid‐century.

The research presented here is highly speculative. The data are of very poor quality and the assumptions are quite heroic. That said, the China 2020 prediction is relatively robust to variations in data and assumptions.

The rise of China is unlikely to have much impact on the structure of the modern world economy or the continuation of US hegemony for the foreseeable future, and its impact on greenhouse gas emissions may be less than anticipated.

This study will hopefully open a debate about planning for the end game of rapid Chinese economic growth.

The paper analyzes the pattern of international capital flows, accounting for the convergence on economic growth.

The paper employs an empirical analysis combined with a theoretical model. The evidence is based on a cross-section regression over a sample of 172 economies. And the model is an open multi-country overlapping generation (OLG) economy.

The empirical evidence records that the pattern of international capital flows in the club of convergence can diverge from the pattern in the club of unconvergence. A higher productivity growth rate is associated with more net capital inflows in the club of convergence but less net capital inflows in the club of unconvergence. The theory shows that proximity to world technology frontier can explain the divergence of capital flows.

The result can account for controversies between theories on the cross-border capital flows: allocation puzzle, up-hill capital flows and neoclassical growth model.

The paper combines both the empirical analysis with the theoretical model construction to account for the role of convergence of economic growth on determining the pattern of international capital flows.

The assignment of targets to instruments in developing countries cannot satisfactorily follow any simple universal rule. Which approach is appropriate is influenced by whether the economy is dominated by primary exports, by the importance of the domestic bond market and bank credit, by the extent of existing restriction in foreign exchange and financial markets, by the presence or absence of persistent high inflation, and by the existence or non‐existence of an active international market in the country's currency. Eighteen observations and maxims on stabilisation policy are tentatively drawn (pp. 64–8) from the material reviewed, and the maxims are partly summarised (pp. 69–71) in a schematic assignment, with variations, of targets to instruments.

This article reports a wide range of complementary or antinomic insights into the multi‐layered globalizing process, in an attempt to understand its causes and significance. Different perceptions and assessments of its far‐reaching consequences all over the world are picked out. The ambiguity of the high‐technology revolution with potential transition from material to time values is contrasted with the self‐destructive bases of self‐interest policies, and the flagrant defeat of the modern economy among those excluded from planetary society. While on the surface it seems to be only a change of relations between the finance sphere and the “real economy”, the more comprehensive and penetrating cognition of recent occurrences reveals a questioning of human values. New forms of social relationships will need to be imagined to define what human worth is.

The purpose of this paper is to address the future role of emerging economies in the global marketplace. The paper highlights current trends in the global market and the changing role of emerging economies.

The paper discusses various perspectives on the role of emerging economies in a globalized world. The paper relies on recent debates on the state of the global economy and the changing positions of emerging economies in the world market.

The paper devises six categories for today’s emerging economies: advancing player, reluctant player, repositioning player, the defender, the chained player and the retreating player. These classifications set the stage for a thoughtful discussion on the potential roles of emerging economies in a world that is characterized by constant changes and alternating positions of major players.

The paper provides unique perspectives on emerging economies, while refuting those who attempt to marginalize their roles in today’s marketplace. It makes a powerful argument that in the era of globalization, neither the developed world nor the emerging economies can lead without the other.

Some economic theories have influenced the reform of the socialist open economy with Chinese characteristics. As a new practice of socialism, an open economy is not only driven by China’s productivity level and people’s living standards but also regulated by the law of commodity production and value.

It was popular to participate in economic globalization for most countries in the second half of the 20th century, but not all of them could benefit from it.

The key to the success of the open-economy reform with Chinese characteristics lies in learning from and innovating the comparative advantage theory, thus forming an organic whole of the open economy, including the core of correctly handling the relationship between the government and the market, the method of gradual reform, the breakthrough point of transforming the mode of economic development, and serving people all the time.

Achieving internal and external coordination through the combination of opening-up and independence is a critical principle of China’s economic opening-up, which not only effectively safeguards national interests but also actively promotes the construction of a new global order.