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MAJETKOVÁ NEROVNOSŤ A SOCIÁLNA FUNKCIA SÚKROMNÉHO PRÁVA (AKTUÁLNA ÚVAHA)

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Lazar J.
Právny obzor. Teoretický časopis pre otázky štátu a práva (Juridical Review. Theoretical journal for the questions of state and law)
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2016
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vol. 99
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issue 4
287 – 309
EN
In the last three decades the leading world economies witnessed a fundamental change in the wealth structure of society, consisting in unprecedented growth of wealth inequality. This serious social phenomenon has far-reaching negative implications and consequences for economic, social, political, ethical and legal relations in society. The process of „Great Divergence“ comes into conflict with several principles of social doctrine of European private law and hence those of private law legislation of the EU member states. It concerns among others the implementation of principles such as principle of equality, non-discrimination, solidarity and in particular principle of social justice in distribution of wealth and material values. This reflection outlines the wider social context and utmost importance of the issue and names its individual aspects or correlations and resulting problems, which, also from the perspective of the sciences on the state and law, and especially civil law, require scientific analysis and new solutions in this actual context. It is rather an outline of assumptions and possibilities which, once confirmed in the economic and political areas, could create a verified basis for the search for new positive solutions in the area of protection of a weaker entity through the institutes of private law, concerning not only obligation law as before, but also the right in rem, not excluding more modern and suitable regulation of the property right.
2

“TOO MUCH DEBT WILL KILL YOU”: ALTHOUGH NOT IN CENTRAL EUROPE, YET

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Belanová K., Gertler Ľ., Sivák R.
Ekonomický časopis (Journal of Economics)
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2020
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vol. 68
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issue 10
981 – 1001
EN
We take an evidence-based approach and confirm that a high level of household debt is detrimental to consumption, disposable income, and hence economic growth in the medium term. Using a panel setting with both fixed and time effects, we isolate the effect of an excessive household debt level and show that an additional one percentage point could be associated with a 0.1% drag on GDP growth over the next three years. Although we confirm this relationship on a panel of advanced economies, we show that emerging economies such as Central and Eastern European economies possess structural characteristics (shallow capital market, less finance and more social cohesion) that so far prevent such a demand constraint from materializing.
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