THE POST-CRISIS WORLD: THE WORLD ECONOMY IN THE AFTERMATH OF THE GREAT FINANCIAL DOWNTURN

• Authors: Czubocha Krzysztof
• Languages of publication: EN

Abstracts

EN

The great financial crisis of 2008/2009 precipitated substantial changes in the world economy, national economies and the world balance of power. Economists coined the term “the new normal” to describe the post crisis world. The new world order will be characterized by increased state intervention, a recession generation, the disconnect between the fate of big companies and labor, the end of upward social mobility, increased state capitalism, changes to the process of globalization and the growing influence of international capital on national economies. Advanced economies will undergo a period of economic stagnation whereas emerging economies will grow at a much faster pace. As a result, the world balance of power will change. Western countries will lose their influence as their share of the world economy will diminish. A new multi-polar world will be created in which Western economic rules and values will no longer be emulated. Free market capitalism, human rights and democracy will be weakened.

Keywords

EN

FREE MARKET CAPITALISM; GLOBAL FINANCIAL CRISIS; GLOBALIZATION; RECESSION; THE GREAT FINANCIAL CRISIS; THE NEW NORMAL

Discipline

• ECONOMICS: ECONOMICS

• Publisher: Wyższa Szkoła Informatyki i Zarządzania z siedzibą w Rzeszowie
• Journal: Finansowy Kwartalnik Internetowy e-Finanse
• Year: 2010
• Volume: 6
• Issue: 4
• Pages: 24-35
• Document type: ARTICLE

Contributors

author

Czubocha Krzysztof

• Dr Krzysztof Czubocha, Panstwowa Wyzsza Szkoła Zawodowa w Jaroslawiu, ul. Czarnieckiego 16, 37-500 Jaroslaw, Poland

Identifiers

CEJSH db identifier

10PLAAAA089315