The Social Effects of the Depravity of Modern Еconomy Cover Image

Друштвени ефекти изопачености модерне економије
The Social Effects of the Depravity of Modern Еconomy

Author(s): Snežana Grk
Subject(s): Welfare systems, EU-Accession / EU-DEvelopment, Globalization, Socio-Economic Research
Published by: Институт за политичке студије
Keywords: modern economy; savings; class war; redistribution of riches; overindebtedness; poverty; gross domestic product; gross social happiness;

Summary/Abstract: It is well known from history that pursuing financial goals, without paying consideration to the general welfare, has always led and will lead to disaster. Today, we are all witnesses to a class war being waged against the rest of the society. Hoarding money on one side means borrowing on the other. This is the kind of situation that we have in the European Union today. Savings measures in the EU have not given positive results; nonetheless, they have brought about new borrowings, bad debts, unemployment, poverty and mass misery. The contemporary financial experiment –in a social laboratory – annuls the results of globalization. Income disparities have been created. The socioeconomic dynamics of population aging is evident in some countries of the world, whereas in other countries we have youth invasion. Massive unemployment of the younger generation and a major proportion of the older generation in history so far, dependent on overindebted countries must explode into a large scale insurgent. Huge indebtedness of countries is undermining Europe, and the increasing gap between the richest layer of the population and all the rest threatens to turn the present great discontent of the poor into risks that could lead most of humanity into a dystopian future. Namely, into a future where there will be people suffering from hardships, poverty, misery and loss of faith of a brighter future. The dystopian scenario will not bypass Serbia if economic and social circumstances deteriorate even further. The future will be fraught with problems due to a depraved economy being led.

  • Issue Year: 2012
  • Issue No: 2
  • Page Range: 125-148
  • Page Count: 24
  • Language: Serbian