Pub Date : 2023-03-27DOI: 10.15407/etet2023.01.106
O. Bandura
We define the specific features in the control over natural monopoly and the main drawbacks in the contemporary methods of such a control. Also, we analyze some alternative methods of monopoly control that take place in world practice. This paper presents a possible way to improve the information component for quantitative control of natural monopoly using the method of marginal price level fixing (method of price coefficients changing). This method is a widespread one that is used for price regulation of natural monopoly in highly developed countries. However, the method to define the main elements in the corresponding formula — inflation number, economic efficiency factor (X-factor) and effect of external factors (Z-factor) — is still to be elaborated. This fact is one of the main objective reasons why this method is not presently used in practice in Ukraine. Of fundamental importance is the uncertainty of the efficiency factor (X-factor) revision criteria. It can contribute to the slowdown of investments, reducing the interest of the monopolist in large-scale and long-term investments. This paper presents an attempt to eliminate most of the above mentioned drawbacks in the method of the marginal price fixing (method of price coefficients changing) using author's CMI-model of macroeconomic dynamics. We propose a method to define unambiguously the efficiency factor (X) for natural monopoly. Also, we have modified the formula to define the price (tariff) for a product of natural monopoly in order to stimulate the monopoly's innovative and investment activity while keeping the consumer’s interest, and to eliminate the slowdown effect of investments. Besides, using the CMI-model we are able to determine quantitative indexes of monopoly power and the rate of effect of this power on the economy as a whole and on its various sectors. These indexes are proposed as additional ones to the price (tariff) formula to verify the results of the formula’s action.
{"title":"Improvement in the information component to control natural monopoly","authors":"O. Bandura","doi":"10.15407/etet2023.01.106","DOIUrl":"https://doi.org/10.15407/etet2023.01.106","url":null,"abstract":"We define the specific features in the control over natural monopoly and the main drawbacks in the contemporary methods of such a control. Also, we analyze some alternative methods of monopoly control that take place in world practice. This paper presents a possible way to improve the information component for quantitative control of natural monopoly using the method of marginal price level fixing (method of price coefficients changing). This method is a widespread one that is used for price regulation of natural monopoly in highly developed countries. However, the method to define the main elements in the corresponding formula — inflation number, economic efficiency factor (X-factor) and effect of external factors (Z-factor) — is still to be elaborated. This fact is one of the main objective reasons why this method is not presently used in practice in Ukraine. Of fundamental importance is the uncertainty of the efficiency factor (X-factor) revision criteria. It can contribute to the slowdown of investments, reducing the interest of the monopolist in large-scale and long-term investments. This paper presents an attempt to eliminate most of the above mentioned drawbacks in the method of the marginal price fixing (method of price coefficients changing) using author's CMI-model of macroeconomic dynamics. We propose a method to define unambiguously the efficiency factor (X) for natural monopoly. Also, we have modified the formula to define the price (tariff) for a product of natural monopoly in order to stimulate the monopoly's innovative and investment activity while keeping the consumer’s interest, and to eliminate the slowdown effect of investments. Besides, using the CMI-model we are able to determine quantitative indexes of monopoly power and the rate of effect of this power on the economy as a whole and on its various sectors. These indexes are proposed as additional ones to the price (tariff) formula to verify the results of the formula’s action.","PeriodicalId":209799,"journal":{"name":"Ekonomìčna teorìâ","volume":null,"pages":null},"PeriodicalIF":0.0,"publicationDate":"2023-03-27","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"123364981","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2023-03-27DOI: 10.15407/etet2023.01.073
Tetiana Krychevska
The first of two articles which reveal the theoretical and practical significance of the researches awarded 2022 Sveriges Riksbank Prize in Economic Sciences. The author shows that the laureates laid the foundations of both the modern microeconomic theory of banks and financial institutions and the analysis of the role of financial intermediation in macroeconomic cycles. It is found that until the 1980s two powerful theoretical traditions dominated in the analysis of financial intermediation. The first tradition was to consider banks primarily as subjects of the money supply. It originates from the controversy between the quantitative theory of money and the real bills doctrine and culminates in the outstanding work by M. Friedman and A. Schwartz. The second tradition was a well-formalized neoclassical approach to the financial system. It was based on the efficient markets hypothesis, the Modigliani-Miller theorem, and the banking theory of E. Fama, where financial institutions are only a veil for real economic activities. It is shown that the growth of interest in the micro- and macroeconomic aspects of the financial sector activities in the late 1970s was due to the growth of its power due to the development of technologies and globalization, and due to the emergence of information economic theory which created a theoretical basis for the endogenous derivation of financial intermediaries that overcome market imperfections in ensuring the flow of funds between savers and borrowers. The article reveals the theoretical and practical importance of D. Diamond and Ph. Dybvig’s works, in which a bank endogenously arises as an optimal contract for solving important socio-economic problems of financing long-term projects with liquid deposits and of delegated monitoring of borrowers. The author emphasizes the importance of the scientists’ analysis and formalization of the incentives that determine the peculiarities of the intermediary role of banks and the nature of their services for financial regulation. It is shown that the model of delegated monitoring by D. Diamond not only demonstrates social benefits of specialization in monitoring, but also solves the problem of depositors' monitoring a bank as a monitor, revealing the incentives for the efficient implementation of borrowers monitoring by the bank: in conditions of diversification of borrowers, when their profits have an independent probability distribution, monitoring helps to avoid liquidation even in the event that part of the borrowers' projects are not successful. It is concluded that the formalization of the banks’ built-in vulnerability in the Diamond-Dybvig model, associated with their function of maturity transformation, and its overcoming by government institutional mechanisms, which, among other things, can distort the banks’ incentives, in effect substantiate the "symbiosis" of a state and banks in ensuring the latter’s stable functioning.
{"title":"Development of micro- and macroeconomic analysis of financial intermediation. Article 1. D. Diamond and Ph. Dybvig theories of banks' intermediary functions and development of microeconomic analysis of financial institutions","authors":"Tetiana Krychevska","doi":"10.15407/etet2023.01.073","DOIUrl":"https://doi.org/10.15407/etet2023.01.073","url":null,"abstract":"The first of two articles which reveal the theoretical and practical significance of the researches awarded 2022 Sveriges Riksbank Prize in Economic Sciences. The author shows that the laureates laid the foundations of both the modern microeconomic theory of banks and financial institutions and the analysis of the role of financial intermediation in macroeconomic cycles. It is found that until the 1980s two powerful theoretical traditions dominated in the analysis of financial intermediation. The first tradition was to consider banks primarily as subjects of the money supply. It originates from the controversy between the quantitative theory of money and the real bills doctrine and culminates in the outstanding work by M. Friedman and A. Schwartz. The second tradition was a well-formalized neoclassical approach to the financial system. It was based on the efficient markets hypothesis, the Modigliani-Miller theorem, and the banking theory of E. Fama, where financial institutions are only a veil for real economic activities. It is shown that the growth of interest in the micro- and macroeconomic aspects of the financial sector activities in the late 1970s was due to the growth of its power due to the development of technologies and globalization, and due to the emergence of information economic theory which created a theoretical basis for the endogenous derivation of financial intermediaries that overcome market imperfections in ensuring the flow of funds between savers and borrowers. The article reveals the theoretical and practical importance of D. Diamond and Ph. Dybvig’s works, in which a bank endogenously arises as an optimal contract for solving important socio-economic problems of financing long-term projects with liquid deposits and of delegated monitoring of borrowers. The author emphasizes the importance of the scientists’ analysis and formalization of the incentives that determine the peculiarities of the intermediary role of banks and the nature of their services for financial regulation. It is shown that the model of delegated monitoring by D. Diamond not only demonstrates social benefits of specialization in monitoring, but also solves the problem of depositors' monitoring a bank as a monitor, revealing the incentives for the efficient implementation of borrowers monitoring by the bank: in conditions of diversification of borrowers, when their profits have an independent probability distribution, monitoring helps to avoid liquidation even in the event that part of the borrowers' projects are not successful. It is concluded that the formalization of the banks’ built-in vulnerability in the Diamond-Dybvig model, associated with their function of maturity transformation, and its overcoming by government institutional mechanisms, which, among other things, can distort the banks’ incentives, in effect substantiate the \"symbiosis\" of a state and banks in ensuring the latter’s stable functioning.","PeriodicalId":209799,"journal":{"name":"Ekonomìčna teorìâ","volume":null,"pages":null},"PeriodicalIF":0.0,"publicationDate":"2023-03-27","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"123665853","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2023-03-27DOI: 10.15407/etet2023.01.031
V. Khaustov
The present stage of development of the world economy is characterized by a spread of innovation, a rapid development of global and national protection systems and, especially, the protection of intellectual property. The dynamism of interstate relations is accompanied by an increase of various violations of intellectual property rights, including counterfeiting, falsification, piracy, and plagiarism. The purpose of the study is to generalize the global trends in the violation of intellectual property rights, identify the main problems in the protection of intellectual property rights in Ukraine within the context of strengthening the fight against violation of copyright and industrial property rights by the world's leading countries. Violations of intellectual property rights, including patent theft, trademark counterfeiting, copyright piracy, and trade secret theft, cause considerable material and financial damage to the rights holders. The problem of counterfeiting is currently spreading on a global scale and occurs in the production, transshipment and in the sale of large quantities of counterfeit goods. Counterfeit goods, especially foodstuffs and pharmaceuticals, bear risks to the health and safety of consumers. Online sales have become the newest channel for trading fraudulent and counterfeited goods. The bulk of counterfeited produce originate from a small group of economies, among which China, Hong Kong (province of China), Turkey, Singapore and the United Arab Emirates are in the lead. Escalated violations of intellectual property rights lead to a stronger protection of intellectual property rights in the USA and EU countries, and the appearance of special reports based on the results of monitoring and supervision of violations in trading partner countries. In recent years, Ukraine has been included in the US Priority Watch List of countries that do not ensure a proper protection of intellectual property rights and are monitored by the Office of the US Trade Representative. Besides, this country is in the second category of the European Commission’s Counterfeit and Piracy Watch List, which includes countries with the most serious problems in intellectual property protection. The status of a candidate country for EU membership requires Ukraine to harmonize its national legislation with the EU legislation in the field of intellectual property protection.
{"title":"Economic aspects of strengthening the protection of intellectual property rights","authors":"V. Khaustov","doi":"10.15407/etet2023.01.031","DOIUrl":"https://doi.org/10.15407/etet2023.01.031","url":null,"abstract":"The present stage of development of the world economy is characterized by a spread of innovation, a rapid development of global and national protection systems and, especially, the protection of intellectual property. The dynamism of interstate relations is accompanied by an increase of various violations of intellectual property rights, including counterfeiting, falsification, piracy, and plagiarism. The purpose of the study is to generalize the global trends in the violation of intellectual property rights, identify the main problems in the protection of intellectual property rights in Ukraine within the context of strengthening the fight against violation of copyright and industrial property rights by the world's leading countries. Violations of intellectual property rights, including patent theft, trademark counterfeiting, copyright piracy, and trade secret theft, cause considerable material and financial damage to the rights holders. The problem of counterfeiting is currently spreading on a global scale and occurs in the production, transshipment and in the sale of large quantities of counterfeit goods. Counterfeit goods, especially foodstuffs and pharmaceuticals, bear risks to the health and safety of consumers. Online sales have become the newest channel for trading fraudulent and counterfeited goods. The bulk of counterfeited produce originate from a small group of economies, among which China, Hong Kong (province of China), Turkey, Singapore and the United Arab Emirates are in the lead. Escalated violations of intellectual property rights lead to a stronger protection of intellectual property rights in the USA and EU countries, and the appearance of special reports based on the results of monitoring and supervision of violations in trading partner countries. In recent years, Ukraine has been included in the US Priority Watch List of countries that do not ensure a proper protection of intellectual property rights and are monitored by the Office of the US Trade Representative. Besides, this country is in the second category of the European Commission’s Counterfeit and Piracy Watch List, which includes countries with the most serious problems in intellectual property protection. The status of a candidate country for EU membership requires Ukraine to harmonize its national legislation with the EU legislation in the field of intellectual property protection.","PeriodicalId":209799,"journal":{"name":"Ekonomìčna teorìâ","volume":null,"pages":null},"PeriodicalIF":0.0,"publicationDate":"2023-03-27","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"128056480","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2023-03-27DOI: 10.15407/etet2023.01.047
V. Mishchenko
In the course of the study, it has been found that the increase in volumes and the expansion of the spheres of the use of digital technologies objectively cause the emergence of cyber threats and expose all participants of digital ecosystems to cyber risks, which restrains economic development. It has been proven that the presence of a wide range of factors that shape cyber security and cyber resilience requires the implementation of a comprehensive approach to the formulation of protective strategies of companies and institutions. The article argues that the process of organizing cyber resilience management should be based on the development of comprehensive cyber protection systems based on clear policies, rules and strategies for early detection, prevention and minimization of consequences of the implementation of cyber threats using a wide range of technical, technological, organizational, managerial and regulatory measures. The author justifies the need to develop national strategy and program for the authorities in the spheres of legislation, regulation, supervision and control over the state of cyber security. He proves that the national cyber defense strategy should provide for effective measures to protect critical infrastructure objects, state authorities and the population, as well as a system of regulatory and supervisory measures. The author establishes that the primary task for the organization and operation of cyber protection systems should be the protection of digital assets and of the companies’ resources and their customers. In order to strengthen the institutional capacity of authorities to effectively support the national cyber security ecosystem, a structural and logical scheme of interaction between companies and the State Cyber Protection Center of Ukraine in the process of exchanging information about cyber incidents has been developed, and practical recommendations have been provided for the interaction between critical infrastructure objects and state regulatory bodies, which can be used to ensure nationally rooted stability and security of Ukraine’s economic development in a hybrid "peace-war" system.
{"title":"Cyber security management in the system for ensuring nationally rooted resilience of economic development","authors":"V. Mishchenko","doi":"10.15407/etet2023.01.047","DOIUrl":"https://doi.org/10.15407/etet2023.01.047","url":null,"abstract":"In the course of the study, it has been found that the increase in volumes and the expansion of the spheres of the use of digital technologies objectively cause the emergence of cyber threats and expose all participants of digital ecosystems to cyber risks, which restrains economic development. It has been proven that the presence of a wide range of factors that shape cyber security and cyber resilience requires the implementation of a comprehensive approach to the formulation of protective strategies of companies and institutions. The article argues that the process of organizing cyber resilience management should be based on the development of comprehensive cyber protection systems based on clear policies, rules and strategies for early detection, prevention and minimization of consequences of the implementation of cyber threats using a wide range of technical, technological, organizational, managerial and regulatory measures. The author justifies the need to develop national strategy and program for the authorities in the spheres of legislation, regulation, supervision and control over the state of cyber security. He proves that the national cyber defense strategy should provide for effective measures to protect critical infrastructure objects, state authorities and the population, as well as a system of regulatory and supervisory measures. The author establishes that the primary task for the organization and operation of cyber protection systems should be the protection of digital assets and of the companies’ resources and their customers. In order to strengthen the institutional capacity of authorities to effectively support the national cyber security ecosystem, a structural and logical scheme of interaction between companies and the State Cyber Protection Center of Ukraine in the process of exchanging information about cyber incidents has been developed, and practical recommendations have been provided for the interaction between critical infrastructure objects and state regulatory bodies, which can be used to ensure nationally rooted stability and security of Ukraine’s economic development in a hybrid \"peace-war\" system.","PeriodicalId":209799,"journal":{"name":"Ekonomìčna teorìâ","volume":null,"pages":null},"PeriodicalIF":0.0,"publicationDate":"2023-03-27","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"126595652","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2023-03-27DOI: 10.15407/etet2023.01.005
V. Tarasevych
This article continues the series of publications on the universal evolution of the ancient civilization and its sub-civilizations and deals with the characteristics of socio-economic and social structures in a classical ancient polis, and their interrelationships and contradictions on the example of Athens. The author considers various changes in power-property relations and the role of traditional social clusters in the governing groups under the expansion of democratic institutional order and with the growing stratum of non-citizens. The defeat of dynastic proto-institutions, the competition between clanism and corporatism, the development of private property of citizens and democratic procedures promoted to the strengthening of personal and collective sub-actors in the ruling group, as well as to their consolidation in the context of strengthening of the economic positions of non-citizens. At the same time, the collision between the ruling group as a representative of the civil community in the polis and an organization relatively separated from it acquires new qualitative features, including the struggle for redistribution of the centralized surplus and necessary product between the sub-actors of the ruling group and the conversion of its parts from personal-private and corporate-clan-collective power-proprietary appropriation into various forms of private appropriation by the members of the power group. The main social clusters of the classical polis (peasants, artisans and merchants, aristocrats, non-tribal rich, hired workers, slaves, civil community) and their appropriate forms of appropriation (personal-clan, clan-private, clan- and corporate-private, private and collective-individual). Attention is focused on inter- and intra-cluster contradictions regarding the appropriation of surplus and necessary product. The author concludes about the network nature of the classic policy appropriation system and about the expediency of its further study.
{"title":"Classic antique polis: forms of appropriation and social clasters","authors":"V. Tarasevych","doi":"10.15407/etet2023.01.005","DOIUrl":"https://doi.org/10.15407/etet2023.01.005","url":null,"abstract":"This article continues the series of publications on the universal evolution of the ancient civilization and its sub-civilizations and deals with the characteristics of socio-economic and social structures in a classical ancient polis, and their interrelationships and contradictions on the example of Athens. The author considers various changes in power-property relations and the role of traditional social clusters in the governing groups under the expansion of democratic institutional order and with the growing stratum of non-citizens. The defeat of dynastic proto-institutions, the competition between clanism and corporatism, the development of private property of citizens and democratic procedures promoted to the strengthening of personal and collective sub-actors in the ruling group, as well as to their consolidation in the context of strengthening of the economic positions of non-citizens. At the same time, the collision between the ruling group as a representative of the civil community in the polis and an organization relatively separated from it acquires new qualitative features, including the struggle for redistribution of the centralized surplus and necessary product between the sub-actors of the ruling group and the conversion of its parts from personal-private and corporate-clan-collective power-proprietary appropriation into various forms of private appropriation by the members of the power group. The main social clusters of the classical polis (peasants, artisans and merchants, aristocrats, non-tribal rich, hired workers, slaves, civil community) and their appropriate forms of appropriation (personal-clan, clan-private, clan- and corporate-private, private and collective-individual). Attention is focused on inter- and intra-cluster contradictions regarding the appropriation of surplus and necessary product. The author concludes about the network nature of the classic policy appropriation system and about the expediency of its further study.","PeriodicalId":209799,"journal":{"name":"Ekonomìčna teorìâ","volume":null,"pages":null},"PeriodicalIF":0.0,"publicationDate":"2023-03-27","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"121102354","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2022-12-29DOI: 10.15407/etet2022.04.030
Tatiana Artomova
The formation of the information society and the network based economy has marked the beginning of global market transformations, which in their deep essence are associated with the need for a creative understanding of the new socio-economic picture of the world. An adequate response to the vital social demand is the formation of a relativistic economic theory. The logic of the Middle Way as a classical institutional channel is today called to create political economy in a broad sense with the help of the theory of economic value. Since the time of Adam Smith, when economic science recognized value relations as its own subject, and until now, the theoretical stream of the classical school has preserved internal harmony and is now able to produce signals of balanced functioning and sustainable development for economic entities. The basis for this is its value based origins in the triple unity of transformed economic forms of marginal utility, value and price. Such a concept is able, on the one hand, to most fully reflect the economic picture of the world with the help of the value based unity of economic history, and on the other hand, to creatively transform it. The triple nature of economic value as an ideal platform for the institutional architecture of management designed to formulate the guidelines of virtuous social life, constitutes the core of true European values. However, the concept of European values has not yet been properly understood in the coordinate system of fundamental scientific knowledge, and the key concept of economic value as an economic good has not yet acquired proper scientific interpretation and consistent deployment. The ideological detachment of the official concepts of modern economic thought from the institutional core of European values determines the tendency of their methodological degradation. Meanwhile, the value based methodology has not exhausted its potential. Continuity with the legacy of classical political economy determines the most important creative breakthroughs in economic theory during the 20th century. In the bowels of the Middle Way logic based on the concept of a standard product by P. Sraffa, the outlines of a new model of economic equilibrium in the economic system were formed in the process of its informational and technological modification. However, traditional economic science does not recognize the actual meaning of such a concept. Under the conditions of value disorientation against the background of politicized economic relations and dysfunction of social institutions, the struggle for the transformation of the world order model acquires the characteristics of a war against humanity. But it is not the "hard" power and manipulation of technologies, but rather effective mastery of social values, and the restoration of their beneficial creative potential, that is the key to success in the struggle.
{"title":"The theory of value as an acquisition of economic science: restoration of the foundations of social harmony","authors":"Tatiana Artomova","doi":"10.15407/etet2022.04.030","DOIUrl":"https://doi.org/10.15407/etet2022.04.030","url":null,"abstract":"The formation of the information society and the network based economy has marked the beginning of global market transformations, which in their deep essence are associated with the need for a creative understanding of the new socio-economic picture of the world. An adequate response to the vital social demand is the formation of a relativistic economic theory. The logic of the Middle Way as a classical institutional channel is today called to create political economy in a broad sense with the help of the theory of economic value. Since the time of Adam Smith, when economic science recognized value relations as its own subject, and until now, the theoretical stream of the classical school has preserved internal harmony and is now able to produce signals of balanced functioning and sustainable development for economic entities. The basis for this is its value based origins in the triple unity of transformed economic forms of marginal utility, value and price. Such a concept is able, on the one hand, to most fully reflect the economic picture of the world with the help of the value based unity of economic history, and on the other hand, to creatively transform it. The triple nature of economic value as an ideal platform for the institutional architecture of management designed to formulate the guidelines of virtuous social life, constitutes the core of true European values. However, the concept of European values has not yet been properly understood in the coordinate system of fundamental scientific knowledge, and the key concept of economic value as an economic good has not yet acquired proper scientific interpretation and consistent deployment. The ideological detachment of the official concepts of modern economic thought from the institutional core of European values determines the tendency of their methodological degradation. Meanwhile, the value based methodology has not exhausted its potential. Continuity with the legacy of classical political economy determines the most important creative breakthroughs in economic theory during the 20th century. In the bowels of the Middle Way logic based on the concept of a standard product by P. Sraffa, the outlines of a new model of economic equilibrium in the economic system were formed in the process of its informational and technological modification. However, traditional economic science does not recognize the actual meaning of such a concept. Under the conditions of value disorientation against the background of politicized economic relations and dysfunction of social institutions, the struggle for the transformation of the world order model acquires the characteristics of a war against humanity. But it is not the \"hard\" power and manipulation of technologies, but rather effective mastery of social values, and the restoration of their beneficial creative potential, that is the key to success in the struggle.","PeriodicalId":209799,"journal":{"name":"Ekonomìčna teorìâ","volume":null,"pages":null},"PeriodicalIF":0.0,"publicationDate":"2022-12-29","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"130661330","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2022-12-29DOI: 10.15407/etet2022.04.053
V. Podliesna
The article substantiates that wars are an inevitable component of civilizational development, during which periods of peaceful development and periods of the intensification of military violence alternate, appearing in the form of large-scale military conflicts affecting the form of resolution of the contradictions of social evolution. All historical forms of the most developed civilizations are social organisms based on class antagonism. Class inequality and exploitation, characteristic of civilizations that reached the empire level of development in the pre-capitalist era, and under the conditions of the capitalist world-system as a contender for the role of global hegemon, encourage them to perform external military expansion in order to acquire colonies and establish in them a system of exploitation. Military technologies have acquired the greatest lethality under the conditions of capitalism, while the military economy is an important component of the capitalist economy. However, already in the agrarian society, there were military-economic cycles, in particular those associated with cycles of power, which were expressed in the synchronicity of the emergence, strengthening, and decline of ruling dynasties in China and steppe empires in Mongolia, as well as the cycles of xenocratic state characteristic of the medieval Maghreb. The cyclicity of wars is clearly visible in long-term cycles that determine the dynamics of the capitalist world-system, such as Kondratiev cycles, long cycles of world politics, and cycles of hegemony. The military-economic cycles in historical retrospect and in modern conditions are conditioned by the struggle for resources that allow social units or complex social organisms, who win in the struggle for military-political leadership to dominate, creating political-economic systems of domination-exploitation, which allows the hegemonic civilization for some time to develop successfully. Each historical form of domination based political-economic system contained the prerequisites for the next war for regional or global leadership in the form of deep socio-economic, political and civilizational contradictions.
{"title":"Military-economic cycles in the context of civilizational development","authors":"V. Podliesna","doi":"10.15407/etet2022.04.053","DOIUrl":"https://doi.org/10.15407/etet2022.04.053","url":null,"abstract":"The article substantiates that wars are an inevitable component of civilizational development, during which periods of peaceful development and periods of the intensification of military violence alternate, appearing in the form of large-scale military conflicts affecting the form of resolution of the contradictions of social evolution. All historical forms of the most developed civilizations are social organisms based on class antagonism. Class inequality and exploitation, characteristic of civilizations that reached the empire level of development in the pre-capitalist era, and under the conditions of the capitalist world-system as a contender for the role of global hegemon, encourage them to perform external military expansion in order to acquire colonies and establish in them a system of exploitation. Military technologies have acquired the greatest lethality under the conditions of capitalism, while the military economy is an important component of the capitalist economy. However, already in the agrarian society, there were military-economic cycles, in particular those associated with cycles of power, which were expressed in the synchronicity of the emergence, strengthening, and decline of ruling dynasties in China and steppe empires in Mongolia, as well as the cycles of xenocratic state characteristic of the medieval Maghreb. The cyclicity of wars is clearly visible in long-term cycles that determine the dynamics of the capitalist world-system, such as Kondratiev cycles, long cycles of world politics, and cycles of hegemony. The military-economic cycles in historical retrospect and in modern conditions are conditioned by the struggle for resources that allow social units or complex social organisms, who win in the struggle for military-political leadership to dominate, creating political-economic systems of domination-exploitation, which allows the hegemonic civilization for some time to develop successfully. Each historical form of domination based political-economic system contained the prerequisites for the next war for regional or global leadership in the form of deep socio-economic, political and civilizational contradictions.","PeriodicalId":209799,"journal":{"name":"Ekonomìčna teorìâ","volume":null,"pages":null},"PeriodicalIF":0.0,"publicationDate":"2022-12-29","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"129390221","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2022-12-29DOI: 10.15407/etet2022.04.069
Olha Minochkina
The research on entrepreneurship and property institutions in the context of modern transformations of socio-economic systems in the paradigm of modern economic theory are relevant areas of scientific development. It is about changing the basis, and restructuring and creating new forms of development. Institutional entrepreneurship becomes a tool for the formation of a knowledge based society, whose economy depends on the knowledge of its citizens, being the success of such a society depending on innovation and creativity of its citizens. The purpose of the present article is to determine the features and conditions of the development of institutional entrepreneurship in the context of the existing theoretical concepts of the modern development of economy and society, which contribute to the development of the new theory of knowledge based economy and reveal its various aspects. This is about the emergence of an "institutional entrepreneur" with a special type of mentality and economic behavior, corresponding to the new type of social relations, which require modern theoretical research of an interdisciplinary nature using the whole arsenal of methods of institutional political economy. The concept has been developed of management of the property system as a joint-separated resource system, which serves as the institutional basis and determines the functioning of modern economic systems at all levels. That system creates objective conditions for joint-separated activities. The institutional mechanisms of this system ensure the freedom for business entities to realize their own interests, as well as various necessary restrictions serving for common benefit. The development of innovative production, the establishment of social ties, and the comprehensive development of man and his self-reproduction all become real. Such a concept has a consolidating potential. Institutional entrepreneurship is associated with the innovative development of rules and other elements of institutional mechanisms functioning based on intellectualization and humanization of the entire spectrum of social relations, including economic relations. In so doing they perform the role of an instrumental mechanism in the system of drivers in a knowledge based economy. In the process of institutional entrepreneurship, the interdependent processes of social consolidation and strengthening of the state are launched; a new system of social order is created, which regulates the behavior of the main social entities in the context of strategic goals of the state; and the cooperation is established between science, state, national community and world community.
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Pub Date : 2022-12-29DOI: 10.15407/etet2022.04.005
A. Grytsenko
The article reveals the methodological approaches in the research on the contradictions of globalization and localization, their movement at different stages of the development of society and their modern manifestations. It is found that the cell from which these contradictions grow in history is jointly divided labor. Jointness in the process of historical development reaches its limit in globalization, and division - in localization. Before the age of great geographical discoveries and the emergence of the global market, the contradictions of globalization and localization existed implicitly, and then they took an explicit form and passed through the three following stages: development through international trade, development through the globalization of capital, and development by moving globalization mainly into virtual space. The author shows the diversity of forms of solving the contradictions of globalization and localization. Among them, the change of world order, hybrid war and reconstructive post-war recovery are identified and revealed. The main contradiction of modern times is found to be the contradiction between globalization, which develops due to informational and financial technologies, and the localization of material and labor resources, which cannot move in space at the speed of information and financial flows. The author clarifies peculiarities in the manifestation and settlement of the contradictions of globalization and localization in Ukraine, in whose space the global contradictions of the main global players are presently localized. The article shows the need for reconstructive recovery for Ukraine based on this country’s nationally rooted development.
{"title":"Economic contradictions of globalization and localization and their modern manifestations","authors":"A. Grytsenko","doi":"10.15407/etet2022.04.005","DOIUrl":"https://doi.org/10.15407/etet2022.04.005","url":null,"abstract":"The article reveals the methodological approaches in the research on the contradictions of globalization and localization, their movement at different stages of the development of society and their modern manifestations. It is found that the cell from which these contradictions grow in history is jointly divided labor. Jointness in the process of historical development reaches its limit in globalization, and division - in localization. Before the age of great geographical discoveries and the emergence of the global market, the contradictions of globalization and localization existed implicitly, and then they took an explicit form and passed through the three following stages: development through international trade, development through the globalization of capital, and development by moving globalization mainly into virtual space. The author shows the diversity of forms of solving the contradictions of globalization and localization. Among them, the change of world order, hybrid war and reconstructive post-war recovery are identified and revealed. The main contradiction of modern times is found to be the contradiction between globalization, which develops due to informational and financial technologies, and the localization of material and labor resources, which cannot move in space at the speed of information and financial flows. The author clarifies peculiarities in the manifestation and settlement of the contradictions of globalization and localization in Ukraine, in whose space the global contradictions of the main global players are presently localized. The article shows the need for reconstructive recovery for Ukraine based on this country’s nationally rooted development.","PeriodicalId":209799,"journal":{"name":"Ekonomìčna teorìâ","volume":null,"pages":null},"PeriodicalIF":0.0,"publicationDate":"2022-12-29","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"129860416","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2022-12-29DOI: 10.15407/etet2022.04.084
O. Moskalenko
The article provides an overview and reflection of quick decisions on economic policies in Ukraine under wartime conditions. The author defines the theoretical and historical background of wartime economy, as well as its content and tasks. Presented various historical examples of the consequences of wars on the economy and its post-war recovery. It is found that in addition to the fact that wars have negative consequences for physical and human capital, they may also speed up economic growth after the war due to the change in economic environment. The author provides a brief analysis of economic policies in the wartime economy of Ukraine, challenges and quick decisions in fiscal and monetary policy, human capital preservation policy, energy policy and regulatory policy of coordinating processes during the war. There is an analysis of proposed changes to the tax legislation, and monetary decisions during the war and other steps taken by the government and the NBU to support the economy in the conditions of war shocks. The acuteness of the demographic challenge for Ukraine due to the loss of human capital and forced emigration is demonstrated. Presented various macroeconomic data on GDP decline during the war, losses, inflation, international aid by donors, which contributes to critical review of the quick economic policy decisions taken. The author undertakes a theoretical generalization and outlines the key challenges for the post-war reconstruction of Ukraine and quick decisions, which topics are among the subjects of discussions on international platforms, as well as objects for analysis in search of ways and means of international partnership support. The differences between rapid and adequate economic policy are shown.
{"title":"Wartime economics: challenges and rapid economic policy","authors":"O. Moskalenko","doi":"10.15407/etet2022.04.084","DOIUrl":"https://doi.org/10.15407/etet2022.04.084","url":null,"abstract":"The article provides an overview and reflection of quick decisions on economic policies in Ukraine under wartime conditions. The author defines the theoretical and historical background of wartime economy, as well as its content and tasks. Presented various historical examples of the consequences of wars on the economy and its post-war recovery. It is found that in addition to the fact that wars have negative consequences for physical and human capital, they may also speed up economic growth after the war due to the change in economic environment. The author provides a brief analysis of economic policies in the wartime economy of Ukraine, challenges and quick decisions in fiscal and monetary policy, human capital preservation policy, energy policy and regulatory policy of coordinating processes during the war. There is an analysis of proposed changes to the tax legislation, and monetary decisions during the war and other steps taken by the government and the NBU to support the economy in the conditions of war shocks. The acuteness of the demographic challenge for Ukraine due to the loss of human capital and forced emigration is demonstrated. Presented various macroeconomic data on GDP decline during the war, losses, inflation, international aid by donors, which contributes to critical review of the quick economic policy decisions taken. The author undertakes a theoretical generalization and outlines the key challenges for the post-war reconstruction of Ukraine and quick decisions, which topics are among the subjects of discussions on international platforms, as well as objects for analysis in search of ways and means of international partnership support. The differences between rapid and adequate economic policy are shown.","PeriodicalId":209799,"journal":{"name":"Ekonomìčna teorìâ","volume":null,"pages":null},"PeriodicalIF":0.0,"publicationDate":"2022-12-29","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"123106257","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
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