Global Advanced Research Journal of Management and Business Studies (ISSN: 2315-5086) August 2016 Vol. 5(8), pp 189-197
Copyright © 2016 Global Advanced Research Journals
Original Research Articles
Ungovernable Globalization Economic Titanic Economic Theory and Economic Policy In A Maze of Transition from Territorial into Market State
Professor of economics, University of Rijeka, Economic Faculty, 51000 Rijeka, Croatia
Accepted 02 June 2016
Main hypothesis of this paper is that the world economy is entrapped by globalization process lacking economic theory of globalization. Consequently, we see the Titanic (global economy) sailing over the world of oceans without a captain We think that capitalism has entered its new development stage which we declare as mega-capitalism or capitalism III. This conclusion we have reached following dialectic of globalization. The essence of globalization process is huge increase of the strength of microeconomic subjects (transnational mega corporations) and the declining role of the territorial state. Therefore we raise a question: Quo vadis global economy?!
Keywords: Globalization, Dialectic, theory, illusions, Risk