University of Primorska University Library - all departments (UPUK)
13.
An attempt at explaining the present economic crisis : a heterodox view
Štrukelj, Peter
The most important economic issue for the leaders of the world's economically most powerful states is how to restore economic growth in their economies. The central point, around which the present ...global society circulates, a goal, for which everybody makes his effort and contributes his share (GDP growth), exactly that does not come to existence now. From the 2nd quarter of 2008 to the 3rd quarter of 2009, GDP in OECD significantly and constantly decreased (in developing countries, GDP growth has decreased significantly in 2009 compared to 2008). In 2009, international trade (exports of commodities, private capital flows and foreign direct investments) has globally decreased. Many worlds largest companies have booked huge or even record sales and profit losses, and have consequentially reduced their costs still more, dismissed many employees and put on halt parts of their production. From the end of 2007 until now, growth of real average wages has been constantly decreasing globally, the number of working poor is increasing, the number of unemployed people is globally increasing (in OECD constantly from the 1st quarter of 2008 until now). And finally, the number of people, living in (extreme) poverty, is globally increasing. The purpose of the paper is to propose a rather different, heterodox explanation of why GDP, trade, profits, wages, employment have been globally decreasing and why poverty has been globally increasing between the 2nd quarter of 2008 and the 3rd quarter of 2009. I try to explain these facts by deriving the present state of global economy (crisis) from the principles of the present global economy. I therefore try to prove that the crisis necessarily follows from the way the present global economy functions. I argue that the reason for the crisis is the fundamental contradiction between the purpose of companies (increasing profits) and necessary ways, in which companies try to increase profits.
It was not necessary to add the material to the shelf.
Bibliographic material was successfully added on shelf.
Adding bibliographical material on shelf was not successful.
Material is already on the shelf.
Permalink
URL:
Impact factor
Access to the JCR database is permitted only to users from Slovenia. Your current IP address is not on the list of IP addresses with access permission, and authentication with the relevant AAI accout is required.
Year
Impact factor
Edition
Category
Classification
JCR
SNIP
JCR
SNIP
JCR
SNIP
JCR
SNIP
Select the library membership card:
DRS,
in which the journal is indexed
Database name
Field
Year
Links to authors' personal bibliographies
Links to information on researchers in the SICRIS system
Subject headings in COBISS General List of Subject Headings
Select pickup location
The material from the parent unit is free. If the material is delivered to the pickup location from another unit, the library may charge you for this service.
