Changing Position of Europe in the World Economy and East-West Economic Relations

József Bognár
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József Bognár: Institute For World Economics

Chapter 2 in East-West Economic Relations in the Changing Global Environment, 1986, pp 9-24 from Palgrave Macmillan

Abstract: Abstract It is an old argument among economists whether the problems to be solved or the real social-economic forces exert a greater influence on economic evolution. The first view is of a deterministic rationalistic nature, as it assumes that after a shorter or longer period of uncertainty rational societal action adjusts to the needs, i.e. to those large economic processes and trends which characterise the modern era. This view is, presumably, over-optimistic, since the economic actions occur through existing centres of power and institutions which dis-pose of their own concrete system of interest. Of course, the development and solution of questions of ‘economic philosophy’ of such magnitude are inseparable from the changes in the concrete conditions occurring in time, namely, if the economy functions successfully, the system of action of the existing centres of power and institutions is ‘accepted’, but in the case of crises structural reforms and changes in concepts follow. Review of the existing system of action and concepts seems especially justified (a) In the case of a world economic crisis which has an importance in economic and political history, (b) In the case of economic processes which were programmed and based on earlier international political and economic relations, concepts and assumptions, since the crisis questions exactly the meaning and correctness of these.

Keywords: World Economy; World Trade; Economic Relation; Debtor Country; West European Country (search for similar items in EconPapers)
Date: 1986
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Persistent link: https://EconPapers.repec.org/RePEc:pal:intecp:978-1-349-18400-2_2

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DOI: 10.1007/978-1-349-18400-2_2

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