Hamza Şimşek

İsmail Şiriner

Marcel Meciar

Modern globalization has been a recognized force around the world for at least three decades. Academic journals, newspapers, television specials, and political discourse are conquered by globalization events, and their impact seems to be everywhere. For most it is a good force, but for a very angry minority it appears to be a bad force. One would have thought that the terms of a force so important would be well defined, its impact understood, and its historical evolution appreciated. This fifth volume explores the interaction of globalization and contemporary issues among economic, business, social, politics, cultural era. With its global implications, this book will be invaluable for students and scholars from all disciplines who are concerned with the contemporary issues in economics, business and globalization. This volume will make sense of contemporary issues in economics, business and globalization by conveying its complexity, importance, and contentiousness from diverse vantage points. With its broad coverage of political, economic, business, cultural, social and individual dimensions, this volume provides readers with a comprehensive introduction to contemporary issues in economics, business and globalization. Also this book will aim to provide relevant theoretical frameworks and the latest empirical research findings in the areas. It will be written for professionals who want to improve their understanding of the contemporary issues in economics, business, globalization and dimensions such as; economical, managerial, political, cultural, social etc.

Contemporary Issues in Economics & Business

Kaan Yiğenoğlu

Mehak Anjum Siddiquei

Giorgi Benashvili

Sidar Atalay Şimşek

Berna Uymaz

Orhan Şimşek

Nalan Kangal

 İlhan Eroğlu

Mustafa Necati Çoban

Nagehan Karanfil

Ümit İzmen

Barış Kocaarslan

Başak Ergüder

Ömer Yalçınkaya

Halil İbrahim Aydın

This edited book is a collection of selected papers, presented at the International Conference of Political Economy (ICOPEC 2016). The deliberate employment of the term “political economy” in the title “International Conference of Political Economy” implies the fact that economics is perceived as an integral part of social phenomena in the International Conference of Political Economy (ICOPEC). Accordingly, even if economic institutions and relations form the foundations of society in the contemporary world, economic development is dependent on social power and dynamics, while economic policies, per se, are shaped by not only technical processes but also diverse interests and choices. Within this context, politics is involved in every encounter between different economic classes, social groups and genders being shaped by the visions of a better life as the subject matter of philosophy, ethics and religion and at times it finds its best expression in art. Law, on the other hand, is the embodiment of all social relations which are, in their essence, political. Thus, this conference does not reduce society to market relations only, despite positioning the economy in the heart of social relations. Above all, it considers the society as a political entity. Indeed, everything constitutes the subject matter of politics. The arguments in favour of purifying market relations from the influence of politics and the discourse that they take place on their own right serve to disguise the conflicts of interest and power asymmetries inherent therein. This conference regards man as homo politicus, as Aristoteles put it, rather than homo economicus. In 2016, ICOPEC conferences were turned into a conference series with its 7th conference and the main theme of the 7th conference was determined as “State, Economic Policy, Taxation and Development". IJOPEC Publication has undertaken to publish selected papers, presented at this conference in English and Turkish, in five different edited books. In the 90s the phenomena of globalization managed to dominate political, popular, and academic debates. While reading a newspaper or a book, watching television, surfing the Internet, or participating in a demonstration we come across the links of globalization in our everyday lives. Globalization as a wide term is variously blamed or credited with a huge range of negative effects, e. g. it is often related to social problems ranging from famine to floods, from pollution to poverty, and from rural depopulation to urban overcrowding. On the contrary, globalization can be also considered as the source of success in development, for instance decrease in the poverty levels, economic prosperity and growth, better services, and enhanced awareness of human rights. Nevertheless, some sceptics of the benefits from globalization have also described the potential ways in transforming political, economic, and social relations within and between countries. This transformation may lead to the benefit of human welfare worldwide. T İsmail Şiriner, Bryan Christiansen, Julia Dobreva (Introduction: Political Economy of Globalization: Financialization & Crises) 10 Since the 80s, we can observe a significant increase in the role of the financial sector. This progress is often referred to as financialization. Financialization has many features and affects numerous different economic entities (Epstein 2015; Stockhammer 2013). One key component is the magnificent growth of the financial sector. Greenwood & Scharfstein (2013) point out a massive rise of the financial service sector in the USA during the last 30 years. The growth can be proved either by the financial sector’s share in GDP, the quantity of financial assets, or by employment and average wages in the financial sector. But this growth is not related to the USA; although to a softer scope, similar processes can also be observed in other OECD countries (Philippon & Reshel 2013). The financial rise has its base in the deregulation and liberalization of the financial (and economic) system. From this point of view, financialization is the cause rather than the effect. This is the major difference compared to the other approaches. Financialization can affect the macro-economy through four main channels. These are income distribution, investment in capital stock, household debt, and net exports and current account balances. As a correction, it is discussed that economic structures governed by financialization should be addressed on four dimensions: a) re-regulation and reduction of the financial sector, b) redistribution of income from top to bottom and from capital to labour, c) re-orientation of macroeconomic policies to stabilize domestic demand at non-inflationary full employment levels, and eventually d) re-creation of international monetary and economic policy coordination.

Political Economy of Globalization: Financialization & Crises

Marcel Mečiar

The contributions in this book demonstrate that the Covid-19 pandemic has led to negative socioeconomic impacts, put a tremendous strain on social institutions in many countries, and changed the lives of people around the world. Society, economy, business companies, management structures of companies, consumption habits of society, education, and health sector have been significantly affected by the Covid-19 pandemic. Some of these effects are thought to be permanent even after the pandemic subsides. It is obvious that the process of digitization will continue in making a consumer’s life more comfortable and safer. Some researchers estimate that approximately 60 percent of companies plan to let their employees continue working remotely from home offices in the post-pandemic period. Many experts emphasize that online shopping, which increased rapidly during the pandemic period, will continue to dominate after the pandemic. Therefore, the social effects of the Covid-19 pandemic will be the subject of many academic studies today and in the future.

The Social and Economic Impact of Covid–19: Rapid Transformation of the 21st Century Society

Hamza Şimşek

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