The Risk and Safety in the European Union
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Zakład Ekonomii Wydział Administracji i Nauk Społecznych Politechnika Warszawska
Publication date: 2015-03-31
JoMS 2015;24(1):209-228
The risk and economic safety result from the form of capitalism functioning under globalization. European integration is a process of regulated globalization. Are these regulations enough and proper? The article presents the mechanism of a contemporary capitalism as implemented in European Union and aims at pointing the way to diminish the risk and increase socio-economic safety. The risk is always correlated with the profit. Traditional, neoclassical way of thinking about risk seems to be misleading. It came from a marginal analysis and paradigm of exchange – that point of view is not suffi cient to explain the rate of profi ts and interdependence between risk and profit. Classical paradigm of production and distribution (and objective value instead of subjective value based on utility) offers a better solution to the problem. That kind of thinking was reviving by Sraff a and, in a specifi c way, Kalecki and Keynes. Following them we are able to understand what the profi ts and risk really are, furthermore, it should be clear that European integration provides some dangerous economic mechanisms and makes the life of working Inhabitants riskier.
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