Qualitative Criteria and the Performance of the Global Economy

Efstratios Kypriotelis (), Nikolaos Arnis () and Georgios Kolias ()
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Efstratios Kypriotelis: University of Ioannina
Nikolaos Arnis: University of Ioannina
Georgios Kolias: University of Ioannina

A chapter in Global, Regional and Local Perspectives on the Economies of Southeastern Europe, 2021, pp 207-221 from Springer

Abstract: Abstract The economic analysis of the crises has shown that humanity is confronted with the crises with accumulated experience, the world view and the tools of the science. The 2008 crisis is global and requires universal solutions. This was done through the cooperation in global level, on an economic basis, imposed by economic laws. Global society requires global governance, and a scientific management system that can be implemented and operated as a whole. Cooperation at a global level is objectively imposed, and it has been institutionalized in the G20, the birth of continuing and worsening crises. Governance using quantitative economics alters the qualitative characteristics, alleviating the strong local coherence, promoting false historical truth, dismantling the state economic structure, dissolving the productive potential of economies, and turning states into consumers, rather than producer states. The handling of the 2008 general economic crisis, by a new mechanism, is not traditionally but consistent with economic security, as part of the global security. This is a completely new approach in regulating the economy, putting new qualitative characteristics in the directorate sphere. The new issues arising here is that for the first time, the handling of the economic problems is not traditional; it is not proposing economic policies in correcting quantitative indicators, i.e. monetary policy, taxation, increase or decrease of production, investment, consumption, circulation of money etc. Instead, new qualitative measures are proposed to regulate the economy on the basis of global security. The issue of global security is also intertwined with the issue of investment in the global economy. Capital, labor and technical progress are moving together, and this movement is complex, it is balanced or counterbalanced and is associated with their asymmetric or symmetrical development. Thus, for an aggregate evaluation of the global economic performance it is necessary to have certain criteria to evaluate the results of the actions taken.

Keywords: G20; Economic security; Globalization; International institutions; Governance; F20; F40; F50 (search for similar items in EconPapers)
Date: 2021
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DOI: 10.1007/978-3-030-57953-1_13

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