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Consequences of Global Firm Domination in the Post-Democratic European Union (and Its Member States)

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  • Ivka Tsakova

Abstract

The article analyses the crisis situation in the EU today, caused by the dominating influence of big companies and banks in public affairs on national and European levels in post-democracy (C. Crouch). In light of the political-economic and critical approach, the article analyses the power of global firms as a main factor in the New public management (NPM) during the current neoliberal capitalism. The post-democratic consequences by the implementation of the NPM in the EU and its member states are: a) emptying political institutions of their democratic content; b) defective market economy due to existing monopolies, and c) attempts to privatisation of civil society. The conclusion comprises some ideas for the rehabilitation of politics and its democratisation.

Suggested Citation

  • Ivka Tsakova, 2023. "Consequences of Global Firm Domination in the Post-Democratic European Union (and Its Member States)," Economic Studies journal, Bulgarian Academy of Sciences - Economic Research Institute, issue 2, pages 42-58.
    • Handle: RePEc:bas:econst:y:2023:i:2:p:42-58
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    File URL: https://www.iki.bas.bg/Journals/EconomicStudies/2023/2023-2/03_Ivka-Tsakova.pdf
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    Cited by:

    1. N. Nuzulman & Raja Masbar & B. S. Nazamuddin & M. Shabri Abd. Majid, 2023. "Does Democracy Matter for Economic Growth? Empirical Evidence from Indonesia," Economic Studies journal, Bulgarian Academy of Sciences - Economic Research Institute, issue 7, pages 34-50.

    More about this item

    JEL classification:

    • P16 - Political Economy and Comparative Economic Systems - - Capitalist Economies - - - Capitalist Institutions; Welfare State
    • H1 - Public Economics - - Structure and Scope of Government
    • D42 - Microeconomics - - Market Structure, Pricing, and Design - - - Monopoly
    • L38 - Industrial Organization - - Nonprofit Organizations and Public Enterprise - - - Public Policy
    • K4 - Law and Economics - - Legal Procedure, the Legal System, and Illegal Behavior

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