KRITICKÁ MIERA ROZPOROV CIVILIZÁCIE A GLOBÁLNA EKONOMICKÁ KRÍZA

• Authors: Šikula Milan

Title variants

EN

Critical magniude of dicrepancies of civilization and global economic crisis

• Languages of publication: SK

Abstracts

EN

Intention of this article is to contribute to overcoming the simplifications about the character of ongoing global crisis. The author is arguing the consideration that it is qualitatively new process, which main causes are derived mainly from the fact that two crucial discrepancies of civilization came into critical magnitude. It is the contradiction between the economy and humans, let us say, between society and economy and natural environment, which are causing increasingly dire polarization of earnings and wealth, limiting global demand, building up abundant production capacities and constraining investments to the real economy. Growing surplus of capital can not find adequate space for gains in the real economy. On the example of data evaluation for US Economy the author documents long-term indefensibility of real demand substitution for virtual demand, generated by extreme expansion of financial sector and growing ruinous indebtedness. Logic of these processes had inevitably ended in crisis, solution of which requires systemic character.

Keywords

EN

CIVILIZATION; FINANCIAL GLOBALIZATION; GLOBAL DEMAND; GLOBAL ECONOMIC CRISIS; INDEBTEDNESS; POST CRISIS ADAPTATION

Discipline

• ECONOMICS: ECONOMICS

• Publisher: Institute of Slovak and World Economics and Institute for Forecasting, Slovak Academy of Sciences
• Journal: Ekonomický časopis (Journal of Economics)
• Year: 2009
• Volume: 57
• Issue: 8
• Pages: 732-755
• Document type: ARTICLE

Contributors

author

Šikula Milan

• Ekonomický ústav SAV, Šancová 56, 811 05 Bratislava, Slovak Republic

• Milan Sikula, Ekonomicky ustav SAV, Sancova 56, 811 05 Bratislava, Slovak Republic

Identifiers

CEJSH db identifier

10SKAAAA088910