THE STATE AND THE ECONOMY UNDER THE IMPACT OF GLOBALIZATION
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Authors:
• Ion BUCUR, Afiliation: Faculty of Law, University of Bucharest -
Keywords: globalization, nation-state, the new economy, geo-economy, global order.
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Abstract:
The political and economical processes of globalization impose the necessity of re-evaluating and redefining the role of the state in the national and global economy, as well as the traditional vision on the ability to act as a general manager of economy.
The profound change of the role of the state is due to the ideological mutations that characterize the end of the millennium and is emphasized by the direct analysis of its relations with the market and globalization.
The new post-war wave of globalization has profoundly marked the economy and the policies promoted by the national states. There is a diversity of opinions regarding the nature and economical and political implications of globalization. The presence and magnitude of certain economical and financial phenomena of instability underline the boundaries of government outside the state’s intervention. The market is viable only in the context of considerable political and social order.
The state is transformed by globalization but it will continue to play an important role in the regulation of economical and social processes, as well as of neo-liberal failures. The globalization doesn’t signify the end of the state; however it compels to the reconstruction and reassessment of the way of intervention and its capacity of action.