International Conference on Eurasian Economies
17-18 September 2013 – St. Petersburg, RUSSIA
Paper detail
Paper ID : 652
Status : Paper published
Language : Turkish
Topic : Finance and Financial Crises
Presenter: Mr. Ziya Arpalı
Session : 1C Finansal Krizler
Philosophy of the 2008 Global Crisis
2008 Küresel Krizinin Felsefesi
- Mr. Ziya Arpalı (Kyrgyz-Turkish Manas University, Kyrgyzstan)
Abstract
The crisis in late 2007 and early 2008, re-questioning of capitalism and re-evaluating institutional structures have arisen. Developed countries which directing of the world economy started a process along with the comments that developed countries maintain their existence. By Western economists led to criticism of the crisis inform of "today's form of capitalism, can’t establish compliance with the changing world". The economic model based on the Balance of Imbalance is scheduled to sleep period in future years of the world management system. The sleeping process has been completed by the broken Balance of Imbalance. The process of planning in the field of application and the name given is crisis. This process should have a philosophy that mobilizing the internal dynamics of the economy. At the same time this crisis shown that money-driven economy conversion process is necessity in capitalism. The process of falling asleep economic model, in other words, the output from the crisis, not the money lead the economy but the economy lead the money. Transformation process will be realized at some point. In this study, it is introduced the philosophy of the crisis, in order to put into action the inner dynamics of capitalism’s legal infrastructure, the political preferences of the founders of the political game and to pass system into sleeping process the necessity of the transformation an economic model to the upper structure have been identified.
JEL codes: B26
Arpalı, Ziya (2013). "Philosophy of the 2008 Global Crisis" in Proceedings of International Conference of Eurasian Economies 2013, pp.549-557, St. Petersburg, RUSSIA.
DOI: https://doi.org/10.36880/C04.00652
