2nd International Scientific Conference on Recent Advances in Information Technology, Tourism, Economics, Management and Agriculture – ITEMA 2018 – Graz, Austria, November 8, 2018, CONFERENCE PROCEEDINGS published by the Association of Economists and Managers of the Balkans, Belgrade, Serbia; ISBN 978-86-80194-13-4
The new international division of labor is based on the globalization of the production, whose creators are the multinational companies that gradually became main factors of the new world economy.
Even with not similar intensity and in accordance with the different positions that the countries have inside the world system, the transformations were intertwined in the whole system. Their implications regarding to the national economic politics can concisely illustrate through the following insistences and requests: national economies have to open towards the world market; an advantage should be given to the export economy; the efforts of the monetary and fiscal policy should be directed towards decreased inflation and national debt, and maintenance of the balance between the import and the export prices; the rights of the private owners should be clearly defined and invulnerable; the entrepreneurship state sector should be privatized etc.
One of the most noticeable transformations that happened under the influence of the neo-liberal economic globalization is the huge concentration of the economic power in the hands of the transnational companies. The economic globalization is supported by the neo-liberal economic consensus, that is consisted of three institutional news: drastic limitation of the state regulation to the economics, new rules for the international ownership of the foreign investors, innovators and innovation creators that could become intellectual ownership and subordination of the national states to the multilateral agencies such as the World Bank, the International Monetary Fund (IMF) and the World Trade Organization.
The respect of the neoliberal regulations is mostly imposed of the peripheral countries. Even the countries that make the nucleus of the world system, and those whose public debt increases, have consequences from the decisions of the agencies for the financial rating.
The computer technology is possible technology that similar to the conductor’s stick conducts from the center in terms of the economic and political power. According to the terminology of globalization, the industrial activity has been described as an efficient substitution of the workers with the machines, and the competition is higher if the workers’ wages are decreased.
globalization, neoliberalisam, labor, neoliberal economic consensus
- Andreeska I. (2010) doctoral dissertation
- Stiglitz E. Dzozef, (2002) Globalization and it’s discontents, w.w. norton & company, New York
- Kolodko, Globalization and development prospectives of postsocialistic countries, Economic institute, MAGOR, Skopje, 2004
- Goldin, K. Reinert, Globalization for development, a publication of the World bank and Palgrave Macmilian, April, 2007
- Vidojevic, Kuda vodi globalizacija, IP “Filip Visnic, Institut drustvenih nauka, Beograd, 2005
- Gary Burtless et al. Global phobia: Confronting fears about Open trade, Brookings Institution, Progressive Policy Institute, and Twentieth Century Fund, 2010.