MACROECONOMIC AND MICROECONOMIC IMPLICATIONS OF GLOBALIZATION AND PUBLIC CHOICE THEORY

Kód výsledku v IS VaVaI

<a href="https://www.isvavai.cz/riv?ss=detail&h=RIV%2F49777513%3A23510%2F17%3A43932788" target="_blank" >RIV/49777513:23510/17:43932788 - isvavai.cz</a>

Výsledek na webu

<a href="http://ke.uniza.sk/sites/default/files/content_files/part_iv_final_3.pdf" target="_blank" >http://ke.uniza.sk/sites/default/files/content_files/part_iv_final_3.pdf</a>

DOI - Digital Object Identifier

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Jazyk výsledku

angličtina

Název v původním jazyce

MACROECONOMIC AND MICROECONOMIC IMPLICATIONS OF GLOBALIZATION AND PUBLIC CHOICE THEORY

Popis výsledku v původním jazyce

The process of globalization relies on one of the basic principles of economics that specialization and mutual trade can lead to the growth of the economic welfare of stakeholders, as the change in the composition of output of individual national economies will result in an increase in global output. Global business, which in turn leads to falling prices for products and services in the area of pricing, brings its macroeconomic positives when countries involved in the international economy reach a situation where their consumption options always exceed their production possibilities. From a microeconomic point of view, however, the globalization process brings its negative social consequences to employment, as winning global firms displace domestic producers who are unable to succeed in the global international economy. The failure of domestic producers reflects in a rise in domestic unemployment coupled with a significant reallocation of household income with all its socio-economic consequences on the domestic economy. For this reason, the pressure of domestic lobby groups is likely to influence the political and economic decision-making of national governments in the short or medium term, which, in pursuit of electoral victory, benefit from financial, media or other assistance of these very well organized groups. The subject of this contribution is to examine the above-mentioned microeconomic impacts brought about by globalization, from the prism of the theory of public choice, i.e. the economic approach examining the issue of political decision-making using the tools of economic theory.

Název v anglickém jazyce

MACROECONOMIC AND MICROECONOMIC IMPLICATIONS OF GLOBALIZATION AND PUBLIC CHOICE THEORY

Popis výsledku anglicky

The process of globalization relies on one of the basic principles of economics that specialization and mutual trade can lead to the growth of the economic welfare of stakeholders, as the change in the composition of output of individual national economies will result in an increase in global output. Global business, which in turn leads to falling prices for products and services in the area of pricing, brings its macroeconomic positives when countries involved in the international economy reach a situation where their consumption options always exceed their production possibilities. From a microeconomic point of view, however, the globalization process brings its negative social consequences to employment, as winning global firms displace domestic producers who are unable to succeed in the global international economy. The failure of domestic producers reflects in a rise in domestic unemployment coupled with a significant reallocation of household income with all its socio-economic consequences on the domestic economy. For this reason, the pressure of domestic lobby groups is likely to influence the political and economic decision-making of national governments in the short or medium term, which, in pursuit of electoral victory, benefit from financial, media or other assistance of these very well organized groups. The subject of this contribution is to examine the above-mentioned microeconomic impacts brought about by globalization, from the prism of the theory of public choice, i.e. the economic approach examining the issue of political decision-making using the tools of economic theory.

Druh

D - Stať ve sborníku

CEP obor

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OECD FORD obor

50201 - Economic Theory

Projekt

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Návaznosti

S - Specificky vyzkum na vysokych skolach

Rok uplatnění

2017

Kód důvěrnosti údajů

S - Úplné a pravdivé údaje o projektu nepodléhají ochraně podle zvláštních právních předpisů

Název statě ve sborníku

Globalization and Its Socio-Economic Consequences

ISBN

978-80-8154-212-1

ISSN

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e-ISSN

neuvedeno

Počet stran výsledku

9

Strana od-do

1772-1780

Název nakladatele

ZU - University of Žilina

Místo vydání

Žilina

Místo konání akce

Rajecké Teplice, Slovensko

Datum konání akce

4. 10. 2017

Typ akce podle státní příslušnosti

WRD - Celosvětová akce

Kód UT WoS článku

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