The Current Economic Paradigm in the Light of Financialisation

Dudziński Jerzy
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Dudziński Jerzy: Department of Foreign Trade and International Economic Relations, Faculty of Economics and Management, University of Szczecin, Mickiewicza 64, 71-101 Szczecin

Folia Oeconomica Stetinensia, 2011, vol. 10, issue 1, 20-35

Abstract: The paper presents the direction of the mainstream economics paradigm shift and the evidence supporting the inadequacy of its several foundations. The author puts emphasis in particular on the aspects of financialisation in international markets and its impact on the current economic life. International commodity markets provide a good reflection of the effects of financialisation. Current price movements in these markets are determined to a large extent by the engagement of financial investors, which has serious implications to the practical aspect of the economy and contributes to the changes in the nature of several basic economic categories. These markets can be, therefore, considered a certain detailed case study illustrating the general theoretical problems analysed in the paper (directions of evolution of the current economic paradigm).

Keywords: economic paradigm; financialisation; world prices; international economic relations; economic paradigm; financialisation; world prices; international economic relations (search for similar items in EconPapers)
Date: 2011
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Persistent link: https://EconPapers.repec.org/RePEc:vrs:foeste:v:10:y:2011:i:1:p:20-35:n:9

DOI: 10.2478/v10031-011-0009-y

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