Transformation of the Economic and Financial Structures of the World: the Impact of Growing Shocks of Catastrophes
The characteristic of a supervolatile “disaster economy” is given, in which the number of shocks caused by natural and man-made disasters is growing. The factors of creating such an economy at the global level are disclosed. The review of discussions about the future of the world (economy, finance)...
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| Format: | Article |
| Language: | English |
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Ассоциация независимых экспертов «Центр изучения кризисного общества» (in English: Association for independent experts “Center for Crisis Society Studies”)
2020-10-01
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| Series: | Контуры глобальных трансформаций: политика, экономика, право |
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| Online Access: | https://www.ogt-journal.com/jour/article/view/666 |
| _version_ | 1797647010497560576 |
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| author | Ya. M. Mirkin |
| author_facet | Ya. M. Mirkin |
| author_sort | Ya. M. Mirkin |
| collection | DOAJ |
| description | The characteristic of a supervolatile “disaster economy” is given, in which the number of shocks caused by natural and man-made disasters is growing. The factors of creating such an economy at the global level are disclosed. The review of discussions about the future of the world (economy, finance) after the pandemic - 2020 is made. New longterm trends emerging in such an economy and the deep changes associated with them in the economic and financial structures of the world and the West are forecasted. These trends include: the collective desire for greater autonomy of households and, accordingly, changes in their demand (growth of stocks, reserves, decrease in demand for rental assets, more desire for personal property, for the acquisition of equipment and technologies that provide autonomy, development of offices at home and the transition to a different life model (to be the most at home – the least in the office and in the public space); the digitalization of households; the increasing individualization of demand for products and services; deagglomeration (living in suburbs or satellite cities); increased mobility; increased demand for goods and services related to the protection of life and health. The global trends in the economic / financial behavior of countries are disclosed in detail: protectionism; government policy to keep “the economy on a respirator”; changes in economic ideology, in its “mainstream”; the inevitable emergence of the concept of “economic sacrifice”; growing volatility of the global economy and global finance. In particular, ahead: the development of the ideology of the “economy of fear”; demonstration of a new balance between collectivism and individualism; revaluation of the models of capitalism existing in different countries; ideological revolution in global finance. The possibilities of an unfavorable scenario in the global economy and a strong challenge that still need to be answered are shown - is development or destruction ahead? |
| first_indexed | 2024-03-11T15:10:09Z |
| format | Article |
| id | doaj.art-c5b4c43feec44c7aac15425a42597bf7 |
| institution | Directory Open Access Journal |
| issn | 2542-0240 2587-9324 |
| language | English |
| last_indexed | 2024-03-11T15:10:09Z |
| publishDate | 2020-10-01 |
| publisher | Ассоциация независимых экспертов «Центр изучения кризисного общества» (in English: Association for independent experts “Center for Crisis Society Studies”) |
| record_format | Article |
| series | Контуры глобальных трансформаций: политика, экономика, право |
| spelling | doaj.art-c5b4c43feec44c7aac15425a42597bf72023-10-29T15:55:28ZengАссоциация независимых экспертов «Центр изучения кризисного общества» (in English: Association for independent experts “Center for Crisis Society Studies”)Контуры глобальных трансформаций: политика, экономика, право2542-02402587-93242020-10-011349711610.23932/2542-0240-2020-13-4-5491Transformation of the Economic and Financial Structures of the World: the Impact of Growing Shocks of CatastrophesYa. M. Mirkin0International Capital Markets Primakov National Research Institute of World Economy and International Relations of the Russian Academy of Sciences (IMEMO)The characteristic of a supervolatile “disaster economy” is given, in which the number of shocks caused by natural and man-made disasters is growing. The factors of creating such an economy at the global level are disclosed. The review of discussions about the future of the world (economy, finance) after the pandemic - 2020 is made. New longterm trends emerging in such an economy and the deep changes associated with them in the economic and financial structures of the world and the West are forecasted. These trends include: the collective desire for greater autonomy of households and, accordingly, changes in their demand (growth of stocks, reserves, decrease in demand for rental assets, more desire for personal property, for the acquisition of equipment and technologies that provide autonomy, development of offices at home and the transition to a different life model (to be the most at home – the least in the office and in the public space); the digitalization of households; the increasing individualization of demand for products and services; deagglomeration (living in suburbs or satellite cities); increased mobility; increased demand for goods and services related to the protection of life and health. The global trends in the economic / financial behavior of countries are disclosed in detail: protectionism; government policy to keep “the economy on a respirator”; changes in economic ideology, in its “mainstream”; the inevitable emergence of the concept of “economic sacrifice”; growing volatility of the global economy and global finance. In particular, ahead: the development of the ideology of the “economy of fear”; demonstration of a new balance between collectivism and individualism; revaluation of the models of capitalism existing in different countries; ideological revolution in global finance. The possibilities of an unfavorable scenario in the global economy and a strong challenge that still need to be answered are shown - is development or destruction ahead?https://www.ogt-journal.com/jour/article/view/666global financeworld economypost-pandemic worldnatural disastersrisksstructural changeseconomics of disasters |
| spellingShingle | Ya. M. Mirkin Transformation of the Economic and Financial Structures of the World: the Impact of Growing Shocks of Catastrophes Контуры глобальных трансформаций: политика, экономика, право global finance world economy post-pandemic world natural disasters risks structural changes economics of disasters |
| title | Transformation of the Economic and Financial Structures of the World: the Impact of Growing Shocks of Catastrophes |
| title_full | Transformation of the Economic and Financial Structures of the World: the Impact of Growing Shocks of Catastrophes |
| title_fullStr | Transformation of the Economic and Financial Structures of the World: the Impact of Growing Shocks of Catastrophes |
| title_full_unstemmed | Transformation of the Economic and Financial Structures of the World: the Impact of Growing Shocks of Catastrophes |
| title_short | Transformation of the Economic and Financial Structures of the World: the Impact of Growing Shocks of Catastrophes |
| title_sort | transformation of the economic and financial structures of the world the impact of growing shocks of catastrophes |
| topic | global finance world economy post-pandemic world natural disasters risks structural changes economics of disasters |
| url | https://www.ogt-journal.com/jour/article/view/666 |
| work_keys_str_mv | AT yammirkin transformationoftheeconomicandfinancialstructuresoftheworldtheimpactofgrowingshocksofcatastrophes |