COVID-19 and the Economic Future: A Review of Books on the Consequences of the Pandemic

Urban decline, resilience, and change: understanding how cities and regions adapt to socio- economic crises

Purpose. To analyze the development of individual economic indicators, that are key aspects in evaluating the economy of countries in the context of international comparison and competitiveness. Through year-on-year changes, to monitor the development of indicators such as gross value added, total employment and hours worked in the last two crisis periods. To compare the impact of the economic and COVID-19 crises on the mentioned economic indicators and labor productivity in the Visegrad Group countries. Methodology. Several scientific methods suitable for the detection of the impact of crises were used in the article. In particular, elementary time series analysis and index numbers were calculated to detect the most important development trends of selected indicators. Chain indexes and fixed base indexes were figured for the gross value added, employment, number of hours worked, labor productivity per person employed and labor productivity per hour worked. Within the indicators it was searched for the impact of economic and COVID-19 crises. Findings. Analysis of labor productivity and its development in crisis periods, as well as analysis of development of individual indicators from which the productivity was calculated was the key issue of the study. Despite the assumptions of some authors that the pandemic crisis will have a more significant impact on the change of countries economies than the global economic crisis, the study did not support this assumption. The year-on-year changes of the indicator in time of both crises were approximately the same, in some cases we recorded a higher year-on-year decrease in indicators due to the economic crisis and not due to the COVID crisis. Originality. The development of selected indicators including two types of labor productivity within the global economic crisis and the pandemic crisis COVID-19 was subjected to analysis among Visegrad Group countries. Practical value. The analysis of economic indicators carried out on a country-by-country basis can later be used as a support in a deeper analysis of individual indicators and productivity, either within regions of countries or individual sections of national economies, in examining the impact of economic and COVID-19 crises.

The aim of this paper is to analyze how he Social and Solidarity Economy is perceived in a context of restrictions and economic adjustments imposed by the Financial Assistance Program in Portugal. The approaches on Social and Solidarity Economy are narrowly linked to the public policies developed by the coalition government of PSD-CDS in order to face the social consequences of the financial and economic crisis. In accordance with its goal, this paper proposes a critical analysis focused on a) the Emergency Social Program and its public presentation by the Ministry of Solidarity and Social Security; b) the Government Program elaborated by the 19th Constitutional Government; c) the Common Agreement and Commitment between the Portuguese government and the Social Economy Sector; and d) the hegemonic discourse on entrepreneurship. This analysis shows, on the one hand, how the Social Economy is seen as a palliative for market and state failures and, on the other hand, how the Solidarity Economy is limited by a punishingcorrective view on the informal economy and a dominant discourse focused on the virtues derived from an entrepreneurial attitude. Keywords: Social Economy, Solidarity Economy, Informal Economy, entrepreneurship, austerity.

“Visual Presentation Of Social Matters” as a Foundational Text of Michael Polanyi’s Thought

The populist economic system has been defeated by a liberal economic system that controls almost all countries, even though Indonesia has long known a populist-based economic system which pays attention to the culture of an Indonesian nation. Economic Democracy is taken from the values ​of the Indonesian Nation, the populist economic system has been in effect since 1998, at that time the government was determined to implement a populist economic system with the issuance of MPR Decree No. . Democracy is oriented towards development and various freedoms that are in favor of the interests of the people. people's economy is developed as an effort to further advance society. The method used is descriptive research method because this research aims to obtain answers related to one's opinions, responses or perceptions so that the discussion must be qualitative or use descriptive words. Descriptive research tries to find appropriate and adequate descriptions of all activities, objects, processes and people. The results of the study show that the concept of populist economy is carried out as a development strategy that prioritizes the welfare of the Empowerment community. populist economy can be realized by rearranging political institutions at the district level. Thus the issue of people's economic development cannot be separated from political institutions at the district level. For this reason, it must create a conducive political climate for people's economic development. SMEs, cooperatives, local and central government, food security supports the running of several people's economic activities in Indonesia, when the economic crisis hit Indonesia, large companies experienced a downfall and many went out of business, while SMEs and cooperatives remained strong and even existed at that time.

The Islamic law has an important role in the national law system. It becomes breaths and spirits the formulation of national law, then there are also other laws. It is as a manifestation ideals of legal establishment which is not only formed the norms or regulations formally but also expected to be the spirit moral formation of the nation,and equitable social order. Ironically, a little awareness from Government’s implementation of Islamic law in practice the national economic development even though the spirit of Islamic economics is not being opposite to Pancasila. However, there are still many western culture influence economic system in Indonesia. In fact, almost all economists say that the liberal economic system and the global economic system that is initiated by the Western did not help to lift up the national economy and the welfare of Indonesian. Indonesia even further left behind from the western in terms of economic affairs. This is as a result of the economic system that is not based on human values and justice but principally on the strength of capital. Capitalist system built by the global economy resulted in displacement of the small people in the market competition, and it still benefited. Therefore, the legal system of Islamic economics could be an alternative in the midst of a national economic downturn.

The research will examine the discourse of Pancasila-based constitutional state and the relevance in Indonesia’s life after the amendments to the 1945 Constitution of Indonesia. The research uses a normative legal approach combined with a material-based analysis. The result shows that the founding fathers accepted the concept of Rechtsstaat, but they changed the basis of social-economy from liberal economic system into planned economic system. The change was made by expediting the process of social-economy decolonization and tradition reconstruction; as a result, the constitutional state of Indonesia exists on the basis of welfare state and Indonesian legal traditions. The aims are not only to ensure legal certainty for economic business but also to provide justice and welfare for all citizens. Although it was unclearly stated that the amendments to the 1945 Constitution of Indonesia rejected the free trade economic system, it has eliminated GBHN as the instrument to implement the planned economic system as regulated in Article 33 Verse (1) of the 1945 Constitution of Indonesia. Consequently, the economic system tends to move towards the free trade system, which is parallel to the concept of liberal-constitutional state and principally against the values of Pancasila that aim to grant social justice for all Indonesian citizens.

The Pure Theory of Government Finance: A Suggested Approach

Monetary policy is considered one of the most important macroeconomic policy tools used by monetary authorities Monetary authorities use it alongside other policies such as fiscal policy, trade policy to influence economic activity through its impact on the variables of this activity such as investment, production, prices and income. Contrary to the theories of classical economists were based on the fact that the economic system is based on stability and balance. The reality has shown that we rarely find a stable country, and the rule has become imbalance and instability, or what is known as (economic crises cycle) that have accompanied capitalist systems and occur successively and differ in their impact and severity from one country to another. The latest of these crises is the economic crisis resulting from the spread of the Corona epidemic and the subsequent economic closures. Through the closures and other necessary health measures to combat the pandemic quickly led to an economic crisis witnessed globally. In the face of these crises, countries seek to control and reduce their negative effects through economic policy tools, including monetary policy, as it plays an important role by formulating and implementing its tools in a way that contributes to creating a stable economic environment, promoting economic growth, and addressing shocks to which the economy is exposed. The study aimed to measure the impact of monetary policy tools in addressing this economic crisis resulting from corona pandemic. Depending on a main hypothesis that monetary policies have a great effectiveness on addressing this urgent globally economic crisis. The study contained of (30) high income countries, for the period (2019-2022), depending on the estimation of the static and dynamic panel data model. The most important results of this study were most of the causes of this crisis are due to the consequences of the economic closure measures. The research suggested that monetary policy should address the lasting economic scars from the crisis and prevent enduring economic damage.

This Special Issue was conceived and developed following a series of international conferences held in Asia, with a particular focus on critically reflecting upon higher education development in the region from broader social and political economy perspectives. Some of the papers in this Special Issue were selected from presentations in the East Asia Social Policy (EASP) Research Network Conference successfully held in Taiwan in 2018, while others were chosen from international events held at Lingnan University in Hong Kong presenting critical reviews and reflections on internationalization, marketization and graduate employment of higher education in Asia. This introductory article puts the discussions of the selected papers in this issue in context, with critical reflections on the key issues being examined in these papers. The Special Issue is published when the world is still confronting the unprecedented global health crisis resulted from the outbreak of the COVID‐19 pandemic. This article discusses the higher education development trends in Asia through the massification, diversification and internationalisation processes in transforming the higher education system and examines how these development trends are affected by the COVID‐19 crisis.

The article offers a commentary on the discussion of the article “Political Economy after Neoliberalism” by Fligstein and Vogel, published in the current issue of the Journal of Economic Sociology. The authors draw the attention of Russian-speaking readers to the fact that the work of American researchers not only problematizes the content of political debates in the United States, but also shapes the basic principles of economic and sociological analysis of various economic systems in their connection with regulation policies and public control. Arguments are given in favor of the fact that the article by Fligstein and Vogel is a kind of manifesto of new economic sociology, demonstrating its “political unconscious”-a number of axiomatic assumptions about the functioning of the capitalist political economy, arising from the research perspective of economic sociology and related disciplines. The structure of the argument proposed in the article includes an analysis of several theoretical and empirical directions: a discussion about the varieties of empirical models of capitalism and statements about the political nature of choice of the institutional architecture of economies, the ways of organizing relations between corporations and society, and the role of the state in the economy. The authors note that the so-called neoliberal turn in social and economic policy in recent years was partly based on the purely intellectual principle in mainstream economic theory that opposes states and markets. Studies in the field of economic sociology, history, and comparative political economy demonstrate the fallacy of this statement, offering a conceptual resource for rethinking modern capitalism.

Social security is a system to protect individuals against both phvsiologic and vocational and socia economical risks. Social security is the goal and Services such as social insurance, social aids and social Services are instruments to reach the goal. The most important purpose of the social security systems is to give individuals a feeling of security and let them save themselves from anxiety figure. In time, the coverage of social security has heen considerably expanded. The expansion has heen realized in terms of both individuals and the risks compensated which resulled in an increase in the expenditures of social security systems. Our social security system has focused important problems and has entered into an economical crisis in 1990 's. The annual revenues of social security foundations are not enough to cover the expenditures and the deficits are increasing day by day. The deficits of the system has become an important reason of the public deficits. The reform of our social security system shall be one of the elements that will secure stability in economics.

The social economy in Quebec has been extensively documented by researchers, practitioners and government in Canada and internationally. This large corpus of literature includes numerous case studies, international comparisons and analytical reflections that situate the contemporary social economy both historically and in the history of ideas. Today, the challenges for theorizing the social economy have increased, both at the micro and macro levels to capture its organizational and institutional characteristics and the larger impact it is having on society. An ethnography of collectively owned enterprises in Quebec includes cooperatives and not for profit businesses, associations or organizations. This portrait is in contrast to the exclusive focus on cooperatives , mutuals and large associations that defined the social economy until recently and continues to limit its definition in many parts of the world that distinguish between the social and solidarity economy. In Quebec, the definitional debates were resolved sometime ago as social economy actors wished to place collective enterprises, whatever their juridical status, on an equal footing with the private and public sectors, as economic actors. While the cooperative movement is certainly recognized for its contribution to the economy internationally, the social economy, as it emerged in the 1990’s both in Quebec and elsewhere, was too often associated exclusively with service provision on the margins of the economy. Reducing the question to who is in and who is out of the social economy reinforced this perception and was a great challenge to overcome. Perhaps this is what distinguishes the Quebec experience from many others across Canada and internationally. By placing the social economy squarely into the center of economic activity, as a key and significant producer of goods and services under different organizational structures, it has assumed a level of legitimacy that is gradually moving it from the margins to the mainstream. But that is not all. As an economic actor, the social economy challenges the hypotheses underlying the market economy paradigm through its distinct and different reality. These economic outcomes are embedded in new socio-economic arrangements that produce wealth efficiently and effectively, while meeting social objectives. Today, we may go even further. The social economy is meeting societal objectives. The growing commitment to sustainability,

The liberal economic system is an economic system that is widely used in world countries. This economic system will spur people to try to create economic success but then what arises is a system of capitalism, resource monopoly, oligopoly etc.; then the state is present to try to equalize and regulate the dynamics of the country's economy and is known as socialism. And in terms of control over economic resources, Islamic economic thinkers have actually discussed this matter-which provides an explanation regarding the concept of ownership, control over economic resources and the presence of the state as a regulator. In this study, researchers examined the concept of ownership, control of economic resources and the presence of the state, in the perspective of Islamic Economics as contained in turat books. The purpose of this research is to provide an understanding of the community as Economic Actors, so that the economic activities they carry out are correct according to Islamic law. This research is a normative juridical research that uses a type of Syara'-Fiqh approach (statue approach), case approach (case approach) and conceptual approach (concept approach).

The Great Recession: Some Niebuhrian Reflections