№ 2021/1
Institutional problems of economic developmentKORNIVSKA Valeriia O.1
1Institute for Economics and Forecasting, NAS of Ukraine
Financial non-freedom in the new society
ABSTRACT ▼
The article presents the results of a study on the problems of leveling economic freedom and, as its component, financial freedom in the process of formation of a new society. Given the asymmetry of the information space in which economic freedom develops, the article proves that it can not be just a set of mechanisms for the realization of interests, but rather an extensive system of ideas, principles, traditions, and rules of economic activity and requires a certain institutional structure for formation and development, which consists of certain levels, the first of which are the institutions of initial socialization (family), institutions of operational activities (institutions of qualification, professional environment, financial institutions, etc.), and the highest level is the state. At the same time, it is shown that in modern conditions the crisis distortion of the subjective desire for freedom continues and evolves due to the transformation of the institutional structure of its formation and development, which occurs at all levels as a result of ongoing crises, socio-economic destabilization, and middle class erosion. The author describes the processes of leveling financial freedom as to the interaction of market entities, the state and financial institutions. The risk of paternalistic participation of the state in the operational activities of market entities is proved, which in the long run may lead to the destruction of entrepreneurial initiative and emergence of an entity exclusively dependent on government and credit financing of life. It is shown that the destruction of basic institutions, which created the basis of financial freedom of the Western model, together with the actualization of individualized patterns of socialization and professional behavior will lead to situation where the desire for social stability of an acceptable middle level will be the dominant of operational activity. And its provision will take place in a transparent space of public and financial liquidity circulation.
Keywords:economic freedom, financial freedom, corona crisis, household lending, state financial aid
JEL: О 16; О 43
| Article in Russian (pp. 41 - 66) | Download | Downloads :231 |
| Article in Ukrainian (pp. 41 - 66) | Download | Downloads :152 |
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