Global Crisis and Restructuring: Theory, Analysis, and the Case of Greece

Abstract

Τhis book examines the global restructuring since its appearance from the late 2000s to the present. It tries to describe and explore the fundamental dimensions of the phenomenon of the current crisis and repositioning of the global socioeconomic system by following an analytical perspective that exceeds a “conjunctural” perspective. It counter-proposes a view of examining the contemporary historical configurations of globalization dynamics in structural and evolutionary terms. Finally, it considers that a valid perception of the current global restructuring requires the simultaneous co-examination of adaptation, innovation, and change management of the partial socioeconomic organizations, sectors of economic activity, and overall socioeconomic systems, at all the “organically linked” levels of space: local, national, international, and global. [...] In conclusion, this book proposes a new perspective of understanding the global dynamics and moves towards a repositioned perception of the phenomenon of global crisis and restructuring in structural and evolutionary terms. Nowadays, according to this analytical proposition, “organic” and transversal innovations and the prerequisite change management mechanisms pose the central development question for the sustainable exit of the global crisis. Moreover, it seems that for socioeconomic systems in a structural crisis, such as the Greek system, “conjunctural” perspective to confront the crisis prevails with insufficient results. The structuration of economic policy in Greece until now reflects this methodological and interventional inefficiency in constructing anti-crisis paths. To rupture the vicious cycle of misunderstandings in economic policy formation and implementation and moving towards a new, virtuous cycle of viable and long-term development, an evolutionary and historical understanding seems a prerequisite not only for Greece but also for other socioeconomic systems at a similar level of development. Finally, this continuous reshaping process of the global environment requires from all the agents of action new adaptation mechanisms. The manner that local and national systems manage to achieve innovation and change management is critical and, therefore, policy initiatives such as the Local Development and Innovation Institutes that focus on fostering local innovation seem essential for constructing sustainable developmental trajectories.