Abstract

The process of economic and political globalization has a major impact on the integrity and sovereignty of national states. This pressure is felt most by developing countries and countries in transition. Also, social inequality is unavoidable for the countries members of BRICS, whose societies are already under the influence of negative activities of modern industrial development. Never before, has the economic activity produced so much material wealth in such a short period of time, and at the same time, it has degraded the natural environment to a large degree. Inequality in income between and within the states themselves is growing. It is reflected in the fact that less and less wealthy individuals have an increasing share of capital, while, on the other hand, there is a growing number of those who are below the poverty line. The working class is evenin a more difficult situation, taking into account ever worse working conditions and a reduction in salaries. All this led to the breakdown of the social component. However, in such social circumstances, the role of the state as a regulator of economic activities is crucial. The benefits of globalization have to be evenly distributed, and that is why institutions and policies are needed to prevent global imbalances of theworld development in the future. The more and more frequent demands for reducing the role of the state and its regulations have not been achieved. On the contrary, its activities have increased in many areas, with only a changed mode of operation. The emphasis is placed on economic growth and development, and less on the direct solution of social issues.

Full Text
Paper version not known

Talk to us

Join us for a 30 min session where you can share your feedback and ask us any queries you have

Schedule a call

Disclaimer: All third-party content on this website/platform is and will remain the property of their respective owners and is provided on "as is" basis without any warranties, express or implied. Use of third-party content does not indicate any affiliation, sponsorship with or endorsement by them. Any references to third-party content is to identify the corresponding services and shall be considered fair use under The CopyrightLaw.