Transition, Vol. 15 No. 32, 2013.
Review article
POSSIBILITY OF ETHICAL TRANSFORMATION TODAY'S WORLD ECONOMIC SCENE IN ORDER TO PREVENT FROM CRISIS
Zlatan Delić
; Faculty of Economics, University of Tuzla
Amra Nuhanović
orcid.org/0000-0002-0681-6348
; Faculty of Economics, University of Tuzla
Abstract
Most critically oriented socio-economic analysis of the new cognitive capitalism suggests that the problem of the financial crisis cannot be solved short-term ad hoc measures of the market mechanism. The reasons for this are many, considering that today needs a significant change in the structure of the world financial system, in which the centre is not a man, but only profit. The entire system of capitalist economy is not directed towards meeting the needs of an individual, but the man has become a product that has been reduced to the process of realization of capitalist profit. This means that a man of "purchasing entity" has become an "object" in a very unjust economic system in which wealth is only valid and recognized category. Accordingly, most economists believe that the basic ethical generator of global financial crisis is egotistical greed for personal wealth large scale. According to them, today it's time to race only one goal - profit and interest. Critics point out that modern civilization is characterized by a moral crisis, which in the future will certainly have a permanent economic, political, demographic, environmental, cultural and other consequences.
Discussions on the possibilities of reconstruction of capitalism are particularly started during the global financial crisis 2008. Immanent analysis of the literature on the subject mentioned refers primarily to address issues of ethics and morality and corporate responsibility in the economic life. In some cases, even the highlights and (re) updating of the earlier ideas of socialism, where would dominate freedom, justice and solidarity. In such a global social system, the ethics of responsibility needs to be replaced profit as the primary measure of man's existence. In this paper, we seek opportunities to reform the modern world economic order, including "spiritualization" of the capitalist economic system. Research on the interrelation of the capitalist system of ethics and the emergence of the financial crisis are now demanding a much broader (re)actualization ethical values as assumptions remodelling and evolution of modern capitalism, but in addition, terms, conditions and possibilities of modernizing the global financial scene. Therefore, this paper carried out the most important socioeconomic survey of the global economic and financial crisis
Keywords
moral crisis; financial crisis; the ethical transformation of the global financial scene
Hrčak ID:
112941
URI
Publication date:
3.1.2014.
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