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Qualitative Criteria and the Performance of the Global Economy

In: Global, Regional and Local Perspectives on the Economies of Southeastern Europe

Author

Listed:
  • Efstratios Kypriotelis

    (University of Ioannina)

  • Nikolaos Arnis

    (University of Ioannina)

  • Georgios Kolias

    (University of Ioannina)

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.

Suggested Citation

  • Efstratios Kypriotelis & Nikolaos Arnis & Georgios Kolias, 2021. "Qualitative Criteria and the Performance of the Global Economy," Springer Proceedings in Business and Economics, in: Alexandra Horobet & Lucian Belascu & Persefoni Polychronidou & Anastasios Karasavvoglou (ed.), Global, Regional and Local Perspectives on the Economies of Southeastern Europe, pages 207-221, Springer.
  • Handle: RePEc:spr:prbchp:978-3-030-57953-1_13
    DOI: 10.1007/978-3-030-57953-1_13
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    More about this item

    Keywords

    G20; Economic security; Globalization; International institutions; Governance;
    All these keywords.

    JEL classification:

    • G20 - Financial Economics - - Financial Institutions and Services - - - General

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