Economic Subjects Research Articles

Factors of the information and network economy sustainable development in Ukraine

The article is devoted to determining the role of the information sector of the economy in the new conditions of ensuring the sustainable development of the economic system. The article determines that the largest influence on the GDP per capita of Ukraine is exerted by the indicator of realized Internet services. This proves the fact that today the consumption of information and communication services plays a leading role in the economic growth of the country. And therefore, there is an opportunity not only to influence the growth of GDP by creating conditions of a technical and informational and communication nature, but also to determine the prerequisites for the growth of national income based on the study of consumer needs and their transformations in the conditions of digitalization. In accordance with the concept of sustainable development, the indicator of the usefulness of information needs is not their volume and the desire of economic subjects to use them, but the characteristics of reliability, completeness, accuracy, novelty, efficiency. Along with this, it was noted that the comprehensiveness and unrestrained consumption leads to social irresponsibility, massification, negative effects on the ecological situation of the environment, the undermining of sustainable mechanisms of the existence of civilization as a whole, which requires the justification of alternative approaches of “frugal” and “restrained” consumption. The implementation of prosumerism approaches is defined as an alternative way to building an information and network economy of sustainable development.

ІНФОРМАТИЗАЦІЯ ЯК ЧИННИК ПІДВИЩЕННЯ ОРГАНІЗОВАНОСТІ ЕКОНОМІЧНОЇ СИСТЕМИ

The article is devoted to the study of the impact of informatization of society on the structure and organization of the economic system. An overview of the areas of information society, information economy, and knowledge economy was carried out. On the basis of this review, it was concluded that the informatization of economic and social processes has a significant impact on the forms of communication between economic entities, interconnected with the emergence of new types of business, new technologies. But the impact of informatization on the structure and organization of the economic system has hardly been studied. The concept of the composition of the economic system, its structure and organization is considered, it is emphasized that the properties of the system largely depend on the characteristics of its elements, but are not completely determined by them. The essence of the main functions, which perform connections between the elements of the economic system: system-forming, specifying and vital, is determined. Attention is paid to the dependence between the number and direction of connections in the economic system and the degree of its organization. The essence of the concept of organization as a property of a system and as a process is considered. It is emphasized that the increase in the number of connections in the economic system is a condition for it to acquire new qualities that characterize the system as more orderly and organized. A more organized system is seen as one whose behavior is more predictable. The article examines the components of the information process and their list, which is characteristic of various economic systems. It is emphasized that the explosive increase in the amount of information and the development of means of ensuring information processes changes the structure of the economic system, the forms of its organization, the principles of interaction of economic subjects and the organizational forms of business units. It is noted that the main consequence of informatization processes is the reduction of transformation costs, which is the reason for changing the organization of the system and its elements. The main manifestations of the reduction of transformation costs are considered: simplification of the structure of firms, gradual replacement of vertical relations with horizontal ones, creation of platform forms of business. These transformations are considered to require changes in the methods of state regulation of business units and the principles of taxation of their activities.

The role of teaching economic subjects in schools and universities

Annotation. The article deals with the issues of economic education in schools and higher educational institutions, as well as modern requirements for teaching economic disciplines. At present, the requirements of employers are increasing not only to the professional level of employees newly coming to the organization, but also to the level of their social development, the ability to be responsible for the actions performed and evaluate them. All this determines the need for a conscious introduction of young people into socio-economic relations at school age. The teaching of economics is quite fully responsible for this task. At the same time, the analysis of the curricula of secondary schools in Kazakhstan revealed the lack of attention of developers to the subject "Economics". In the state educational standard of secondary general education, "Economics" is also referred to the profile level in the list of subjects for the choice of the field "Social Sciences".The methods of teaching the discipline "Economics" in universities are considered

A critique of quantitative easing by the Federal Reserve System and the European Central Bank

The application of quantitative easing tools by certain central banks has been and continues to be the subject of professional debate. Therefore, this paper aims to assess an alternative scenario to the use of quantitative easing. We have used counterfactual analysis to estimate GDP growth in the US and in the Eurozone for the period during which quantitative easing was implemented, i.e., since 2009 in the US and since 2015 in the Eurozone. We used a vector autoregression (VAR) model for the analysis. We concluded that, in retrospect, the use of quantitative easing appears to be unwarranted. While there was slightly higher GDP growth in the Eurozone than there would have been without quantitative easing, there was no smoothing of the economic cycle. At the same time, returning to the inflation target took a relatively long time. In the US, quantitative easing prevented an initial slide into a deep recession and smoothed the economic cycle over the medium term. Overall, however, quantitative easing has mostly had a negative effect. One major negative is that when this instrument is used over a long time period, economic subjects gradually come to see it as a standard tool. Furthermore, inflation, central banks’ main objective, did not rise rapidly over the period in question; on the contrary, over the long term, quantitative easing has become one of the factors behind today’s higher inflation rates. An excessive monetary supply has created imbalances in the financial markets and has been a factor in price bubbles in the stock, bond, and property markets. Last but not least, it has increased moral hazard for governments, which have gone further into debt without difficulty. At the same time, central bank independence was violated, which has caused an abnormal increase in the central banks’ balance sheets. We, therefore, recommend that this unconventional monetary policy instrument should only be used in the short term for emergency situations as a clear central bank response to stabilize the economy.

STRATEGIC IMPERATIVES FOR THE DEVELOPMENT OF AGRICULTURAL ENTERPRISES IN THE CONTEXT OF IMPLEMENTATION OF THE EUROPEAN GREEN COURSE

Purpose. The aim of the article is to generalize the trends in the development of agro-industrial production and to substantiate the strategic imperatives of the implementation of the European green course policy by economic subjects of the agrarian sphere. Methodology of research. The theoretical and methodological basis of the research is: system analysis to assess the state and identify the endogenous potential for the development of agro-industrial production on the basis of the green course; structural analysis – for identification of institutional and evolutionary limitations of innovative modernization of agricultural production and activation of innovative activity of agricultural enterprises; evolutionary approach – for summarizing the trends of global development and prospects for the formation of a green economy. Findings. It was emphasized that during the times of favourable price conditions, agricultural producers failed to change the trend of development, and the desire to expand the export potential was manifested in its raw material focus. It was established that, considering the structure of crop rotations and the structure of marketable products directed to the global market, the export agro-food specialization of agriculture is raw and narrow-ranged. It is argued that the involvement of agricultural enterprises in the implementation of the principles of the green course will contribute to: reducing environmental and climatic negative manifestations; sustainability of the national food system and agro-industrial production; standardization and unification of sustainability indicators of agro-food products; implementation of the requirements of the green course into domestic agricultural policy and practice; implementation of structural changes in agro-industrial production; introduction of new approaches to financing state programs and supporting farmers from the standpoint of compliance with environmental requirements. Originality. It is substantiated that the post-war recovery of the agrarian sphere and its further development cannot be based on the outdated structure and raw material orientation of export. Modernization changes and a new strategy for the development of agro-industrial production require taking into account exogenous and endogenous factors that oppose progressive changes and the existing bifurcation state of the agrarian sphere, taking into account the limitations and effective institutional influences, forms prospects for the recovery and development of the industry in a qualitatively different state. It was emphasized that in order to implement the principles of the European Green Course, it is important to adapt the trends of global agro-food specialization according to such components as: diversification of agricultural products; growth of the share of products with higher added value; integration into production processes with advanced processing; involvement in closed production cycles; expansion of biofuel production. Practical value. The theoretical and methodological provisions of the study generalize and deepen the conceptual and practical aspects of the implementation of the European green course policy. Key words: agro-industrial production, agro-innovation, green course, green economy, agricultural enterprises, strategy, innovative development, modernization, transformation.

ВПЛИВ РОСІЙСЬКОЇ АГРЕСІЇ НА ДОЛАРИЗАЦІЮ В УКРАЇНІ

The article is dedicated to the impact of the russian aggression against Ukraine on the dollarization of the Ukrainian economy. Among the reasons for the traditionally high level of dollarization in Ukraine are frequent currency and financial crises with sharp devaluation of hryvnia, distrust in the national currency, the banking system and the economic policy in general, and the lack of structural reforms. Recently, the russian war against Ukraine has become a new key factor. Russian aggression against Ukraine is proposed to be divided into three stages – the beginning of the aggression in 2014–2015; the war in the Eastern Ukraine in 2016–2022; the full-scale invasion since 2022. The dynamics of dollarization in Ukraine in these periods was calculated using the official statistical data of the National Bank of Ukraine and was compared with the dynamics of two main economic factors – the exchange rate and inflation, as well as the key political events of that time. The first stage of the russian aggression is characterized by a significant increase of dollarization, a high devaluation of hryvnia and a high inflation. The second stage showed a gradual decrease of dollarization indicators, a relative stabilization of the floating exchange rate of hryvnia and a decrease of inflation. During the third stage of the russian aggression since 2022 there was a new increase of the dollarization indicators with a consequent decrease due to a fixed exchange rate of hryvnia and an adaptation of business to the conditions of war. So, the russian aggression against Ukraine has a negative impact on the level of dollarization of the Ukrainian economy. However, after stabilization of the exchange rate of hryvnia, we can observe a gradual decline of dollarization. In particular, after the jump at the beginning of the full-scale invasion, the level of dollarization has stabilized and is gradually decreasing in 2023 due to a long-term falling of the inflation rate, an exchange rate stability, significant volumes of international aid received and expected in the future, an adaptation of business to the conditions of war and a stabilization of the expectations of economic agents. The future success of the Armed Forces of Ukraine and the liberation of the occupied territories will have a positive effect on the expectations of economic subjects, and, as a result, on the further gradual decrease of the level of dollarization.

Which news topics drive economic prosperity in China?

Precise and real-time measurements of economic prosperity are vital to a country's economic system. This study aims to identify news topics that promoted economic prosperity in China from 2011-2021. By extracting economic topics from news text data, we construct a news coincidence index with comprehensive information and strong timeliness and reveal the trend of topic contribution. The Latent Dirichlet Allocation (LDA) topic model is applied to extract economic topics from the news. We use a mixed-frequency dynamic factor model to track rapid economic development without using high-frequency weekly and daily data. We identify the six most influential topics and investigate their evolution, which may serve as a reference for economic construction and regulation.

The Formalization of Marx’s Economics

Whether Marx’s economics and Marxist political economy can be formalized using mathematics is a controversial and divisive issue. From studying the text of Capital and its manuscripts, it emerges that Marx’s research on the capitalist mode of production involves the application of mathematical methods. Marx creates a set of symbols related to the social production of capitalism, and on that basis constructs an economic model corresponding to his theoretical analysis. Obviously, the mathematical method is an integral part of Marx’s economic methodology. In a certain sense, using mathematical methods to study and formalize Marx’s economics is in line with Marx’s approach to economic topics. However, the formalization of Marx’s economics must strictly observe the relevant principles; otherwise, it will lead to serious problems.

Perceived Difficult Topics and Senior Secondary School Students’ Academic Achievement in Economics in Lagos State

The study investigated the influence of perceived difficult topics by senior secondary school students and how this perception affects their academic achievement in Economics in Lagos State Education District V, in Nigeria. A total of three hundred and seventy-seven (377) students were selected for the study through simple random sampling technique. One research question and two hypotheses were raised and analysed using descriptive and inferential statistics. Findings revealed that greatest percentage of the students chose calculations and statistics as the most difficult aspect of Economics with an overall highest 27.4% and the lowest in ranking of difficulty is explanation of terms 8.3%. Also, findings showed that perceived difficult topics in Economics has positively strong significant impact on academic achievement in Economics (ꞵ1 = 0.65; p<0.05). Among the recommendations made in line with the findings of this study is that students should be taught Economics with activity-based methods to improve their academic achievement in the subject.

The Effect of Time Management, Student Creativity and Learning Motivation on Student Learning Outcomes Case Studies on Economics

This study aimed to analyze the effect of time management, student creativity and learning motivation on student learning outcomes at SMAN 62 Jakarta in the subject of Economics. The method used in this research was descriptive quantitative with Path Analysis approach. The population in this study were all students of class XI science and social studies at SMAN 62 Jakarta, totally 239 students. Population members taken as a sample were 120 respondents. The sampling technique was proportional stratified random sampling. Data was collected by using a questionnaire and distributed via google forms to 120 students of class XI science and social studies at SMAN 62 Jakarta. This study revealed that: (1) time management had a positive and significant effect on learning outcomes, (2) student creativity had a positive and significant effect on learning outcomes, (3) learning motivation had a positive and significant effect on learning outcomes, (4) time management, student creativity and motivation learning together had a positive and significant effect on learning outcomes.

FACTORS OF ECONOMIC DEVELOPMENT: THEORETICAL APPROACHES

The article discusses theoretical approaches to the factors of economic development. These approaches include theories that were created as a result of the search for the causes of differentiation in development rates and that recognize that the most important thing for development is the mobilization of the region's internal potentials. The authors analyze four concepts: New Economic Geography, Evolutionary Economics, Sustainable Development, and Intellectual Specialization. The new economic geography considers spatial relations not as one of many, but as the main factor determining socio-economic processes of growth and development. According to the concept, the main role is played by two internal forces that cause the processes of concentration and deconcentration of human/economic activity, and the result of these forces is the formation and development of agglomeration. Evolutionary economics is one of the most modern theories of economic growth and development. This theory describes economic processes by analogy with evolutionary processes in nature. Three features distinguishing it from other theories are indicated: the concept of equilibrium, the dynamics of processes, and the characteristics of business entities. The concept pays special attention to such properties as diversity, complexity, and uncertainty of socio-economic processes, which are necessary conditions for development and for development. Sustainable development is an extension of the neoliberal paradigm. Economic development is still in the forefront here, but social and environmental factors are taken into account to preserve the foundations of life and development for present and future generations. The subject of sustainable development economics is management in the society-economy-environment system. The concept of intellectual specialization is a new approach in the European Union's policy, which has become a key element of its regional policy. The strategy includes three interrelated priorities: smart growth; sustainable development; and inclusive inclusion. The aim of the strategy is to develop an individual approach for each region in all EU countries to overcome the recession and ensure long-term development.

Application of Coordinated Management Model Jointly with Economic Agents

In the modern conception of economic thought, competition is one of the basic conditions for the functioning of a market economy. Nevertheless, in today's unstable market environment, competition is not effective. In this context, we believe that cooperation is a factor in ensuring the stability of the economic system. In this context, we believe that cooperation is a factor in ensuring the stability of the economic system.
 In this connection the article considers the role of competition in development of society and necessity of its transition to a new paradigm of doing business in the rapidly changing conditions of external environment. A mathematical model of coordinated management has been used in order to determine the possible benefits of cooperation between partners in the markets for goods and services.
 The results of model research are presented from the standpoint of active system theory and the model was obtained with the condition of perfect matching, corresponding with manufacturers’ cooperation. The goal of the research is the study of competitive model of national economy functioning and the identification of promising trends in business activity of economic subjects on the basis of the model of cooperation.

İktisadî Büyümenin Parasal Koşulları ve İslâm’ın Faiz Anlayışı: Müslüman Dünyada Hukuk ile Uygulama Arasında Var Olan Açık Çelişkiye Bir Çözüm Var mı?*

Sabri F. Ülgener (1911-1983), with his ability to combine eastern and western cultures in his own character, his rigorous and disciplined way of working and his ability to use different sources in his research, also has an important place in the aspect of history of economic thought of the Turkish academy of the 20th century and influenced the studies that conducted after him, is a scholar who deserves to be studied in depth.An important feature that distinguishes Ülgener from other scholars is that he focused on “lived history” rather than “documented history” in his research. Rather than archival sources, works of classical Turkish literature, moral books, works of art, newspapers published in the Ottoman period, the memories he listened from people who were born in the last period of the Ottoman Empire and were still alive in his own time, and the memories left behind by those people were the main reference sources of Ülgener. Ülgener rigorously traced back the marks of the Ottoman economic mentality in all these sources.The Ottoman economic mentality, which Ülgener continued to research throughout almost his entire academic career, naturally coincides with the research field of the discipline today called “Islamic Economics”. In 1944, Ülgener himself wrote an article titled "Economic Policy Issues in Islamic Law and Moral Sources", and he examined the issue of price fixing [narkh] in Islam in this article, with the effect of statism policies that had to be implemented due to the hard conditions of the Second World War. Another work that is directly related to the subject of mentality is the article he wrote in 1949, titled “The Ethics of the Craftsmen since Fourteenth Century and Some Situations of Complaints”. In the article, Ülgener examined the negative impression of the craftsmen of that period in the minds of the public and the reasons for it.It was unthinkable that Ülgener, who carried out research on the economic topics of Islamic law in the second half of the 1940s, remained indifferent to the issue of the “interest”. This study, which is the subject of translation, is related to interest, the most fundamental issue of Islamic economics. Ülgener was invited to a congress held in New Delhi in December 1958 and he presented the paper that is the subject of that translation at the congress. The presented paper was not published in Türkiye, but it was included as a note called “opinion” in the issue of Islamic Review, published in England, with the number of 55/2 (February 1967). The aforementioned paper, as understood from the Ülgener biography written by A. G. Sayar, was first written in Turkish with the old script [Ottoman] and then presented in English. Sayar names the paper "The Situation of Islam in Economic Development Against Money and Credit Issues".Ülgener makes a distinction between the interest used in directing and calculating investments and expressing the premium paid for the use of money [Ülgener proposes to call this type of interest as “benefit”], and the interest, which represents an unrequited surplus for consumption purposes [usury, riba] in the paper. Expressing that the interest prohibited by Qoran is actually the usury, he examines the reasons behind the prohibition. Seeing the prohibition against usury for consumption purposes as justified, Ülgener says that especially Muslim countries with insufficient development level should reinterpret Islamic law in order to ensure their own economic development, make a distinction in the concept of interest, and asextension of this thought, he states that they should permit interest as a guide at the point of placement of investments and should also include such Western-style monetary institutions in their structure.The paper, which was not included in the corpus prepared during the collective publication of Ülgener's works, is important in the aspect that it has never been published in Turkish and that it is a study in which Ülgener explains his thoughts on interest clearly and consistently.

Paradigms of economic thinking in journalism: The post-Soviet transformations’ experience

The paper, using the example of publications in federal periodicals in the period from 1991 to 2022, examines the process of formation and transformation of economic thinking paradigms that have gone from a liberal economic agenda that promotes the values of private property and market reforms to an administrative concept that brings paternalistic sentiments to the fore and pro-government stance. The content analysis and sentiment analysis of the texts, carried out by the author, show that over the three decades of post-Soviet transformations, not only the economic ideas broadcast through periodicals have noticeably transformed, but also the emotive field of these ideas has changed sign from negative to positive context. The conclusion is drawn about the prospects for such a transformation, which inevitably leads to the consolidation in the public mind of the principles of learned helplessness and a return to the argumentative constructions of the Soviet period with the dominant role of distribution motives and state support for the economy. The results showed that the increase in the subjectivity of the media in the representation of economic topics during periods of dominance of paradigms and the intention of periodicals for objectivity during the period of paradigm transition.

Theoretical aspects of the market functioning of vegetable products and its features

The article examines the theoretical principles of the market functioning of vegetable products and highlights its features in the conditions of martial law. The important role of the vegetable market in ensuring food security, generating income for small agricultural producers, etc. is argued. In general, the market is considered as a set of interests and actions of real and potential buyers, as well as the conditions under which the exchange is carried out. It is substantiated that the agricultural market has a rather complex structure and represents a set of markets that serve all aspects of agricultural production, is a dynamic system of economic relations. It has been proven that the market of fresh vegetables consists of numerous submarkets characterized by perfect competition. It is highlighted that intra-branch, perfect (pure) and monopolistic competition is characteristic of the specialized vegetable market. The features of the production process of growing, processing, and storing vegetable products are highlighted, which affect the specifics of the functioning of the vegetable market. The biological and economic characteristics of the classification of vegetable crops were systematized and their main groups were identified, on the basis of which the elements of the vegetable market infrastructure were characterized, namely system-forming, providing, functional and controlling. The peculiarities of the vegetable market are summarized, namely: low elasticity of demand; high production costs; wide differentiation of the range of vegetables, local nature of satisfaction of consumer demand; a higher level of average monthly consumption by the rural population; commodity producers are private peasant farms and small agricultural enterprises, reduction of forecast volumes of commodity supply in the conditions of martial law; high dependence of supply on changes in weather conditions; seasonal demand for products; low level of market infrastructure development; high concentration of potential consumers of vegetables in cities; influence of intermediaries on the price level; weak awareness of market subjects. It is substantiated that the economic relations between the subjects of the market of vegetable products are formed on the basis of the interaction of economic subjects in the production, distribution, exchange and consumption of vegetables, which is aimed at achieving high final results and is manifested through specific production, economic and organizational ties between them. The author's definition of the market of vegetable products is a set of agricultural enterprises, canning industry and market infrastructure objects that carry out the main business processes and pursue the full satisfaction of the population's needs for high-quality vegetable products in accordance with rational nutrition standards and consumer demand. Key words: market of vegetable products, demand, supply, market infrastructure, market structure, product traffic.

A Qualitative Review on Islamic Sustainable Finance

The current paradigm of Islamic economics and finance leads to comprehensive human development by taking into account the objectives of Islamic sharia (maqasid sharia). This study aims to determine the development and mapping of Islamic Sustainable Finance from research published by reputable journals with the theme of Islamic economics and finance. This study uses a qualitative method with data collection in the form of journal publications from various Scopus-indexed journals with the theme of Islamic Sustainable Finance. There are 154 journal publications with the theme of Islamic Sustainable Finance for the period 1994-2022. The data were processed with Microsoft Excel and analyzed using Nvivo 12 Plus software. The results show a fairly fluctuating increase in journal publications with the theme of Islamic Sustainable Finance. Of the 154 published journals indexed by Scopus, the words that appear the most are Islamic, finance, financial, sustainable, development, social, banking, financing, waqf, and economic with the percentage of each word being 3.22%, 1.55%, 1.50 %, 0.95%, 0.84%, 0.78%, 0.68%, 0.54%, 0.49%, and 0.48%. That is, most states that the development of Islamic finance is sustainable, in terms of banks, social financing, waqf, economics, and so on. This research is expected to add to academic studies related to Islamic finance to achieve a sustainable future for Islamic finance.

Процесс формирования стоимости бизнеса как система экономических взаимодействий

In the article, the process of establishing the cost of modern business is considered as a system of economic interactions between economic entities. The study presents the author's concept of the economic interactions’ typology. The author distinguishes atomistic, organic and harmonic types of economic interactions and comes to the conclusion that each of them corresponds to a certain interaction model (traditional industrial model, network model). Within each of them a mechanism of interaction, expectations, and conflict resolution is formed. Different types of economic interaction coexist simultaneously and not always in a coordinated manner. They are often intertwined. Economic subjects use a differentiated approach when interacting with each other. The focus of business strategy is shifting from internal optimization processes to coordinating external interactions, from increasing customer value to maximizing ecosystem value.

ASSESSMENT OF THE COMPLIANCE OF THE NATIONAL LEGISLATION OF CORPORATE REPORTING SYSTEM WITH THE REQUIREMENTS OF THE EUROPEAN DIRECTIVES

The establishment of a modern European standard corporate reporting system in Georgia, which represents the country's commitment under the "Association Agreement", is, in turn, an important stimulating factor for attracting additional investments, business development, creating new jobs and, ultimately, increasing social well-being. For the introduction of a modern corporate reporting system, one of the most important prerequisites is to bring the national legislation and regulatory norms into compliance with the relevant European regulations. Such is the Directive 2013/34/EU of the European Parliament and the Council - "On annual financial statements, consolidated financial statements and related reports of certain categories of enterprises" and Regulation N1606/2002 of the European Parliament and the Council of July 19, 2002 on the application of international accounting standards. This regulation establishes that in the member states of the Union, the consolidated statements of open joint-stock companies must be prepared in accordance with international accounting standards. In addition, member states have the right to allow or require the same obligation from closed joint-stock companies. Directive 2013/34/EU establishes that the requirements contained therein shall apply to the laws, regulations and administrative provisions of the Member States and shall apply to private and public companies which have share capital or whose owners are enterprises with share capital. The directive contains the definitions of the main concepts, the criteria for determining the size category of enterprises, as well as the list of organizations to be included in the category of Public-interest entity. The accounting standard to be used for each category of entity, the list of mandatorily prepared reports and the rules of their preparation and publication are established. The directive allows the member states to use simplified forms of reporting for small enterprises and provides specific approaches and instructions as to which articles/points should be combined to simplify the reporting forms. On June 8, 2016, the Parliament of Georgia approved the law on Accounting, Reporting and Auditing, however, if we look at the date of entry into force of the Association Agreement (July 01, 2016) and the date of adoption of the law, as well as the deadlines for the implementation of the main obligation defined by this law, we can conclude that Obligations under the association agreement are fulfilled within the relevant time frame. The law, as defining the categories of enterprises, as established the obligation of them to prepare and submit financial statements, as well as to publish them for public stakeholders, for enterprises of the first, second and third categories. And the enterprises of the fourth category have the obligation to submit to the Accounting, Reporting and Audit Supervision Service (SARAS) the statement prepared in accordance with the simplified standard intended for them. The rules of delivery of which to the interested person are established by the SARAS. It should be noted that the regulation of the law of Georgia, regarding the division of enterprises into categories, cannot include all economic subjects, and therefore, some of them remain outside the legal regulations, in particular, individual entrepreneurs who do not belong to the third, second or first category, are not included in the second category either. which does not comply with the requirements of the discussed directive.

Coal or Biomass? Case Study of Consumption Behaviour of Households in the Czech Republic

Renewable sources play a crucial role in the decarbonisation process of the current linear economy, aimed at reaching the 2030 climate objectives and fulfilling the EU’s long-term strategy of achieving carbon neutrality by 2050. All economic subjects, including households, can contribute to the Green Deal goals. The main goal of this paper is to evaluate households’ consumption of energy sources for heating purposes in the Czech Republic in the period 2003–2020 and depict possible drivers of switching to biomass. For this, various data were collected, such as data published by the Czech Statistical Office, ministries, and other national authorities, as well as data from Eurostat. Concerning methods, data analysis, correlation analysis, and regression analysis were used. Different models focus on the substitution effect, rebound effect, and behaviour of different kinds of households. The results show a substitution effect connected with the consumption of coal, electricity, and biomass for heating purposes. Many households substituted coal for biomass in the observed period. On the other hand, the environmental impact of such substitution is not significant, as carbon emissions and emissions of other pollutants are stable. The substitution of fuels should be accompanied by technological change, e.g., improvement of combustion boilers. Moreover, households of pensioners are the key economic subjects with the highest impact on biomass consumption for heating purposes. Against this background we recommend policies to support households in replacing their boilers for more environmentally friendly ones.

Environments of Control in the Films of Melanie Gilligan

Since 2008, the artist Melanie Gilligan has been investigating how the techniques of machinic capitalism have intensified in the face of digital environments. This is expounded upon in three video works in particular. Crisis in the Credit System (2008) raises the question of how the market, controlled by an “invisible hand”, functions as the milieu of an economic subject. Popular Unrest (2010) shows how algorithms intervene in the reproduction of life and, in doing so, not only govern subjects, but interpret their infra- and supraindividual data traces as an environment. In The Common Sense (2014), society regulates itself through a decentralized but omnipresent affective network created by environmentally distributed technologies. In this paper I want to ask what kind of power-formation is sketched by Melanie Gilligan, especially since the focus of all three works is put on the control of environmental factors.
 In order to achieve this, I will follow what Foucault developed in his lectures on The Birth of Biopolitics. The power-formation he calls governmentality does not aim at the production of subjects (as disciplinary techniques), but rather at the control over their milieus or environments. I want to show that this is a central aspect of the power formation, that is implicated in the diegetic universes of Gilligan’s films. Additionally I discuss more recent contributions to the question of machinic control: Erich Hörl’s concept of environmentalization, Antointette Rouvroy’s term algorithmic governmentality, Gerald Raunig’s latest thoughts about the dividuum and machinic capitalism, as well as Maurizio Lazzarato who has taken up Deleuze’s and Guattari’s thoughts about asignifying semiotics.
 By successively working through Gilligan’s three works, I conclude that the way Gilligan conceives of different formations of control may be analyzed as allegories of historical and technological processes of governmentality, that reach from the 18th century’s milieu of the market to today’s digital milieus.