Abstract:A growing debate around the active role played by the neoliberal ideology and the economy connected with it in the crisis development. The polarisation of researchers in this area is quite significant: starting from the negation of this role to its complete affirmation. This analysis is aimed at contributing to the aforementioned debate, putting forward the following hypothesis: historical development of mainstream economics and its influence, to a considerable extent, determined the outbreak of the large-scal… Show more
Economics of the environment as an applied field of economics was established during the 1960s. At the time of its foundation, neoclassical environmental economics represented the mainstream view regarding the explanation of the causes of environmental problems and their solutions. Since then, however, two other competing approaches - the free market and institutional ecological economics - have evolved. These two new approaches present different analytical focuses as they stress the role of institutions (property rights and/or management regimes) in environmental protection. As a result, environmental research based on cost-benefit analysis was substituted by the application of various forms of institutional (often qualitative) analyses. The goal of the paper is to justify the importance of this methodological shift that is sometimes minimized by mainstream economists. The research focus of competing approaches and their methods are mapped through comparative analysis, and the theoretical description is connected with the practical examples of the EU environmental policy
This work analyzes the role of governance of financial entities in the current crisis. Neoliberal economic policies, deregulation and liberalization have characterized financial globalization, giving rise to the financialization of the economy. This paper, using the analysis-synthesis method, shows that the corporate governance of entities has adapted to the new social environment under the influence of the interests of the investors. The results of this paper suggest the need to monitor the over-emphasis on the maximization of short-term shareholder value without relativizing the risk taken to achieve it, as such, the emphasis on short-term shareholder value is considered a crucial contributing factor to the present crisis
scite is a Brooklyn-based organization that helps researchers better discover and understand research articles through Smart Citations–citations that display the context of the citation and describe whether the article provides supporting or contrasting evidence. scite is used by students and researchers from around the world and is funded in part by the National Science Foundation and the National Institute on Drug Abuse of the National Institutes of Health.