Naslov
The European Union in a Labyrinth of Transition from the Territorial into a Market State

Autori
Jakovac, Pavle ; Kutnjak, Goran ; Miljenović, Dejan

Vrsta, podvrsta i kategorija rada
Poglavlja u knjigama, znanstveni

Knjiga
Progress in Economics Research

Urednik/ci
Tavidze, Albert

Izdavač
Nova Science Publishers

Grad
New York (NY)

Godina
2020

Raspon stranica
185-199

ISBN
978-1-53618-248-4

Ključne riječi
EU, globalization, dialectics, territorial state, market state, mega-capitalism

Sažetak
The world is changing rapidly. Many distinguished economists were convinced that the international Pareto optimum, particularly relevant for the enlargement of the European Union (EU), was quite a realistic achievement only if EU follows the dictate of a strong radical free market reform. “Laissez-faire” was considered as a magic solution for every economic issue within the EU. However, we believe that the EU is becoming a perfect case in point to illustrate the labyrinth of transition from a “territorial” (nation) state into a “market” state on the basis of profound globalization process and functional integration of the global economy. Dialectic of globalization suggests that the extant economic theory becomes virtual and unsuitable for the process of globalization. We raise the following questions which we are not able to answer just by using the existent (neoclassical) economic theory and policy: whose GDP should be optimized in a global economy? Whose employment level should be addressed: that of territorial or the market state? Who is the main economic subject in the upcoming market state: (multi/transnational) corporations or individual (non-sovereign) states deprived of their economic resources during privatization? How this new stage in the world (capitalist) development is going to look like? Since we have (partly) stepped in the next stage of capitalist development, we propose the term “mega- capitalism” which totally differs from Friedman’s and neoliberal understanding of economic processes and Fukuyama’s end of history. Should the EU join mega-capitalism as a unique state or as bunch of (currently 28) integrated national states? Should the EU maximize its own GDP or GDP of individual member states? The same question is pertinent for the level of employment, social justice etc. Is the EU becoming or should it become (only) a region within the unified global state? These are the questions that need to be answered as soon as possible for the sake of the citizens of the EU and we will try to tackle these questions within this paper.

Izvorni jezik
Engleski

Znanstvena područja
Ekonomija

POVEZANOST RADA