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EN
This essay presents what is enduring and still powerful in Marx’s analysis of capital, viewed synthetically as the resulting moral imperative to fairness in the social relation-ships of production.
EN
Review of Jacek Tittenbrun's book The Colonization of Science and the World by Capital. The theory of parallel worlds in the issue of the sociology of knowledge, Wydawnictwo Zysk i S-ka, Poznań 2014, pp. 263
PL
Recenzja książki Jacka Tittenbruna Kolonizacja nauki i świata przez kapitał. Teoria światów równoległych w wydaniu socjologii wiedzy, Wydawnictwo Zysk i S-ka, Poznań 2014, ss. 263
EN
The genesis of the notion of “global” is reviewed. Actual programs of global actors are considered, including Alexander the Great as well as corporate initiatives for a “New World Order.” What motivates and drives the adoption of a global orientation? The power of the example of Polish civil society to throw off communism is examined. The imperative of global international mutual support and sustainable future cocreation rather than models of competition and domination is the resulting conclusion.
EN
In a period in which capital has been on the offensive for many years, using debt and financial crises as rationales for wielding austerity to hammer down wages and social services and terrorism as an excuse for attacking civil liberties, it is important to realize that the origins of this long period of crisis lay in the struggles of people to free their lives from the endless subordination to work within a society organized as a gigantic social factory. In both the self-proclaimed capitalist West and socialist East the manag-ers of that subordination, whether in private enterprise or the state, repeatedly found their plans undermined by people who refused to play by their rules and who elaborated activities and social relationships that escaped their control. The refusal of their rules meant crisis for the managers; the elaboration of other ways of being—whether charac-terized as the crafting of civil society or as autonomous self-valorization—meant crisis for and freedom from society-as-work-machine. As always, the capitalist response has involved instrumentalization and repression; basically its managers have sought to har-ness what they could and eliminate what they could not. For a long time instrumentali-zation was most obvious in the West and repression was most obvious in the East, yet both were always at play everywhere, and everywhere those responses were resisted and often escaped. It was that resistance and those escapes that led to the unleashing of the monetary weapons of financialization and their current employment to convert crisis-for-capital into crisis-for-us. It is in past and present resistance and escapes that we must discover both our weaknesses and our strengths in order to overcome capital’s current offensive and to elaborate new worlds. It is the overall thesis of this paper that Marx’s labor theory of value still provides vital aid in helping us understand these historical developments.
EN
Globalization does not only embrace economy, but also politics, culture, climate, military affairs, and so on. Its most important aspect is capital; the concept of capital is the key to analyzing and understanding the today world. Today capital has turned from primitive accumulation into “accumulation by dispossession,” extending its ruling logic to all fields and levels of the world. What we should do is to minimize the capitalist ruling logic in globalization; the very globalization is an imminent trend.
PL
The concept of capital is one of the most noticeable and at the same time the most unclear concepts organizing not only the field of social sciences, but also the public debate in Poland and in the world. The article analyses two ways of conceptualization of the capital rooted in political and neoclassical economy together with their sociological modifications. The aim of this short reconstruction is to present a complex relation between the economic capital and the social capital treated as moral capital. This ambiguity induces us to ask a question about the significance of shifting this concept from the field of economic analyses to the centre of sociological theories in the context of crisis and transformations of late capitalism.
EN
Selection of appropriate funding sources for company assets is one of the most important decisions taken by a company. The right capital structure and in particular the relevant relationship between own and external sources of financing have a significant impact on the financial results. The purpose of this paper is to analyze the use of own resources in the funding of assets in the dairy industry in the Podlaskie Province in 2010-2012. The information included in the financial statements of the surveyed companies, as well as secondary data included in the studies of the CSO, was used in the paper.
EN
In my paper I try to analyze Thomas Piketty’s Capital in the Twenty‑First Century as a history book. Thus, the following questions have been posed: at the intersection of which streams, tends, and traditions of the contemporary historiography could one place Piketty’s oeuvre? What can be said of those elements of the book that can be labeled as historical epistemology: source work, conceptualization of the object of study, etc.? As an attempt to revive serial history, does it inherit the baggage of “misdeeds” against which the entire movement of cultural history rose up? What role does the concept of longue durée play in the book? The historical aspects of Piketty’s thought have the potential to spark controversy among professional historians, but it is one of its many virtues.
Oeconomia Copernicana
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2016
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vol. 7
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issue 2
317-329
EN
Financial management in a company is a decision process subject to achievement of the main goal of the company, that is its value maximization. Estimation of the cost of capital is of great significance in this area. The cost of capital affects the key decisions of the board concerning the scale of investment undertakings, determination of the target, demanded amount and pace of capital growth, shaping of optimal capital structure and other areas of financial management in a company such as capital budgeting, processes of takeovers and fusions etc. It is also a parameter in calculating the return on investment and in other analyses. The utilization of information about the cost of capital in the decision-making process in the company is strictly connected with the assessment of financial management in the company using market value added. The objective of the paper is to indicate the place of the cost of capital in assessing the effectiveness of financial management in a company, performed by the method of market value added. The considerations conducted are grounded on the assumption that if we base the effectiveness assessment of financial management in a company on the market value added growth, then the cost of capital will be one of the main parameters in each of the theoretical models presented concerning the company value pricing. In this way, the cost of capital is a parameter in the effectiveness assessment of financial management in a company at the same time. The article is of theoretical-cognitive and methodological character. It constitutes a reason for further empirical research confirming the relation proved in the theory of the relation between the cost of capital and company value, which is a basis for assessing the effectiveness of financial management in the company.
PL
Models of accumulation show that capital goods have equal productivity and using them goods having similar quality can be produced. However, productivity increases together with technological change and the quality of goods gets higher. Capital accumulation influences technological change and technological change creates terms of new accumulation. Capital and the degree of its utilization have direct influence on technological capabilities of economy creating terms of faster economic development. The role of capital in different periods and economic approach evaluated but it was always a key factor of economic growth. Changes in the structure and character of capital directly decide about the efficiency of technological change reflected in the rate of profits and the level of savings, which influences the level of capital accumulation. High-level accumulation economies can pursue growth based on innovation, others have to find sources of capital gain. It is difficult because in a lot of countries a huge part of capital is wasted by inflation and public debt limiting sectors producing tangible goods. The use of innovation processes needs more widely capital resources. It may be accomplished through the reduction of constraints and the costs of raising and holding capital.
EN
In modern economic theories, human qualities are treated as autonomous production factors, which are called “human capital”. However, these theories provide no description of the relationship between human capital and the man who is its “bearer”, nor an explanation of the formation process of that capital. In the thesis, the author tries to justify it as follows: human qualities, including knowledge and skills, are an integral part of a human being, that is, they are involved in every human act. It is, therefore, wrong to analyse their economic significance in isolation from the whole structure of human activity. Through his or her action, man discovers the potential in things and relationships in the form of the possibility of using them for a particular purpose. Capital is thus realized by the human potential of things that form a system for transforming the world. In the first part of the article, a general description of human capital will be provided. In the second part, it will be criticized, while in the third part, there will be an attempt to show the proper relationship between man and capital from the perspective of personalism.
EN
Theoretical background: The dynamic development of modern-day economies causes a rapid obsolescence of economic resources that leads to a reduction in companies’ total capital. Current accounting methodology does not provide clear procedures for relevant measurements and reflections on obsolescence in financial reporting.Purpose of the article: The purpose of the paper is to develop a relevant accounting methodology for objective representation of a company’s assets and capital value in financial reporting as well as preventing the loss of capital due to obsolescence.Research methods: This paper critically reviews the extant literature and international accounting standards. The proposed methodology is based on the concepts of capital maintenance (physical and financial) and the approach of replacement assets value, originally formulated by Schmidt (1921) in their organic balance theory.Main findings: The main result of the paper is substantiated reasonableness of relevant reflection of obsolescence in accounting and financial reporting through a specially created account – reserve for capital stock obsolescence with retained earnings as a main source of its formation. The application of the proposed ex-ante approach ensures the preservation of productive energy of capital and the possibility of its reproduction in a qualitatively new (innovative) technical and technological form.
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Marx a rozpory společnosti vědění

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EN
The society of knowledge is made an object of investigation by many contemporary authors. Its basic characteristics, however, were captured by Radovan Richta as long ago as the 1960’s. Richta was one of the first theoreticians to point out that know¬ledge, and the all-round development of man, is becoming an economic factor. In his pioneering conception, Richta was inspired by Marx, who analysed the basic principles of the society of knowledge as far back as the second half of the nineteenth century. The author interprets Marx’s conception with a special emphasis on the contradictions which appear between the demands of the all-round developed person and that of the capitalist economy. In conclusion, the author formulates the thesis that the contemporary society of knowledge is a society of fluid alienation in which knowledge acquires an alienated character.
EN
Research is devoted to politological analysis of the phenomenon of “political leader’s image”. In the work the author defines the essence of the concept of “political image” and its main components, functions and consides some typologies of image. The author analyzes the history of the formation of the phenomenon of the political leader image as a scientific category. The phenomenon of the image of the political leader analyzed using the theory of conversion of capital and on the example of Conversion Strategies Ukrainian political leaders in the presidential campaign in 2010 shows how the various capitals are participating in the construction of the image of politics as it is the campaign of 2010 is bright and rich in interesting and successful image.
EN
Scientific researches showed that the regime of self-recoupment logically presents the policy of self-financing, when an enterprise is capable of financing the development of the real assets partly or fully due to own financial sources in the potential of self-financing. If the regime of self-recoupment is not provided, an enterprise becomes a problem one with all the consequences that follow: crisis situations and actual bankruptcy. The financial and economic efficiency characterizes the ability of an enterprise constantly generate the financial results by means of raising capital and use of real assets. Determining the indices of an enterprises efficiency formally consists in comparing the quality indices which at the beginning characterize the money capital of an enterprise, and at the end its financial results. We propose the system of indices recommended for use and estimation of the financial and economic efficiency of an enterprise. In terms of methodology for the estimation of the efficiency of an enterprises activities the alternative systems of indices can and must be proposed, the difference between them is in the chosen method of several terms implementation: full coverage of economic activities by the system of efficiency indices; choice of the formal description with the aid of which the system of efficiency indices is structured; choice of the indices which provide measuring of an enterprises efficiency.
PL
Badania naukowe wykazay, e samodzielne finansowanie przedsibiorstw jest moliwe czciowo poprzez rozwj rzeczywistych aktyww lub cakowicie z posiadanych rodkw finansowych przedsibiorstwa, ktre decyduj o jego potencjale. Jeli wwczas zwrot nakadw nie jest moliwy, przed przedsibiorstwem powstaje problem zaamania finansowego lub upadoci rzeczywistej, ze wszystkimi tego konsekwencjami. Efektywno finansow i ekonomiczn przedsibiorstwa charakteryzuje jego zdolno do generowania wynikw finansowych (poprzez pozyskiwanie kapitau i wykorzystanie realnych aktyww). Okrelenie wskanikw efektywnoci funkcjonowania polega na porwnywaniu wskanikw jakoci, ktre na pocztku s charakterystyczne dla kapitau pieninego przedsibiorstwa, a na kocu wyniku finansowego. W artykule zaproponowano system wskanikw zalecanych do stosowania dla oceny finansowej i ekonomicznej efektywnoci przedsibiorstwa. Pod wzgldem metodologicznym szacowania efektywnoci przedsibiorstwa zaproponowano alternatywne wskaniki, ktre zapewniaj waciwy jej pomiar.
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EN
The purpose of the paper is to define spiritual capital in organization management and identify the elements of spiritual capital in selected ISO system standards. Spiritual capital is often called the fourth capital in an organization, apart from material, human (intellectual) and social capitals. The issue of spiritual capital has been investigated against the behavioural management theory and the critical trend in management. The research has focused on the analysis of concepts referring to this capital. It has been concluded that standardised systems for organization management contain only few elements of spiritual capital.
EN
The hallmark of French thinker undoubtedly is worthy of critical attention. To make this task feasible, the paper focuses not on the secondary literature, but on Bourdieu’s work itself. Thanks to what follows, one is able to establish whether the conception of various capitals stands up to analytical scrutiny. And an outcome of this examination has even broader relevanceBourdieu is the most prolific exponent of an entire trend, much in vogue in social science recently. It would be difficult to indicate a field of inquiry in which this or that unorthodox, extra-economic concept of capital has not been deployed as a research tool. The result of this critical analysis are not encouraging; Bourdieu’s framework is plagued by economism or economic imperialism, and suffers from other limitations as well.
EN
Research background: The innovation in Sharīʻah-compliant banking products has resulted in the rapidly increasing size of assets in Islamic banks worldwide. The assets of such banks have been growing twice as fast as those of conventional banks. Islamic banks do not depend on conventional interest, speculation, or complex derivatives stemming from banking operations. Instead, their actions in respect of profit/risk sharing, and the clarity of the contract are consistent with Islamic Sharīʻah principles, which seek to promote a more equal society. Purpose of the article: This research aims to identify and compare factors influencing the liquidity of Islamic and conventional banks in Europe. Candidate factors are sought amongst profitability, credit quality, credit expansion and capital adequacy indicators. Methodology: First, relevant financial ratios for 249 observations on Islamic banks and 2,306 observations on conventional banks are selected and compared for the period 2013?2017. Second, liquidity is explained separately for each type of banks by panel data regression to identify its determinants in a comparative context. Findings & value added: The results indicate that the impact of the net interest margin on the liquidity ratio of Islamic banks is insignificant, which is obviously due to the prohibition of the use of interest (riba). To the contrary, in conventional banking a higher net interest margin results in a reduction in liquidity. Capital adequacy has a positive influence upon liquidity in both types of banks, but in Islamic banking, the influence is 5.4 times greater. The findings strongly suggest that the liquidity of Islamic and conventional banks is affected by different factors.
EN
The aim of this paper is to draw attention to the mechanism of contributing inscribed shares as a contribution to a capital company. The currently dominating view regarding the moment of contributing to the capital company shows that the company acquires the property of the contributed object already at the moment of its entering. The consequences of this assumption point to certain negative effects in the case in which the registration of the share capital or its increase covered by such a contribution fail to materialize. A practical conclusion which follows from the above arguments leads to the postulate that, in the interest of the subject submitting the contribution, the moment of the transition of the contributed property should be regulated in an especial manner in a relevant agreement.
EN
Progressive globalization and commercialization have had influence on the functioning of football enterprises. As a result the mode of action of those companies that today are more focused on the pursuit of equivalent of economic and sporting purposes has been changed. The development of actors appearing in the German 1.Bundesliga would not be possible without internal and external sources of financing. Among the most important ones are revenue derived from the organization matches, sponsorship and selling of media rights. It is also necessary to achieve numerous infrastructure investments by football enterprises owing to funds sourced from banking sector (mainly long-term loans). The result of the investment was the development of the necessary infrastructure – stadiums and training centres. Thus, the quality of the product that is offered i.e. football match, improved the range of services offered to consumers and sporting spectacle increased. Avoiding an excessive risk, diversification and professionalization of business and reasonable managers decisions led to a situation in which: a) since 2010 ownership of capital has exceeded liabilities, b) most of the subjects have achieved a positive financial result, c) turnover in 1. Bundesliga has regularly increased.
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