PAUL KRUGMAN: End This Depression Now! New York: W.W. Norton & Company, 2012, 272 pp.In 2012, the president of Estonia, Toomas Hendrik Ilves, and the noted economist Paul Krugman engaged in a lively discussion about solutions to the economic crisis and the ability of small and medium-size countries to implement them. This specific quarrel, though, was emblematic of a question that has occupied discussions among economists since the end of the First World War: "what is the problem?"John Maynard Keynes and Friedrich Hayek tried to answer this question. They created opposing concepts of macroeconomic policy. For Keynes, high unemployment is more dangerous. For Hayek, it was high inflation. This, in essence, is the crux of the opposition between the two bigger rival theories in economics from the 20th century.Paul Krugman's 2012 book End This Depression Now! is strongly connected to this discussion. Rooted in Keynesian theory, Krugman seeks to show how to solve the economic problems now plaguing much of the world. The recipe, unsurprisingly for those who are familiar with his writing, runs contrary to these presented in most works published on the subject. In fact, at the end of the book the author thanks all those who help him and other economists who promote the Keynesian view of the economy.Krugman swears that effective crisis remedies are based on demand stimulation, but because of a fundamental misunderstanding of the nature of the crisis, politicians and entrepreneurs are unable to reverse the economic slowdown. They do not want to accept non-mainstream ways of economic thinking. As a result, they cannot define the real causes of the economic "depression" or apply the appropriate remedies. In Krugman's opinion, the dogmatic use of economics designed for growth in times of crisis only exacerbates the difficulties. As a result the end of the crisis becomes ever more distant. In subsequent chapters, Krugman argues that his way of thinking can stimulate growth in the economy.First, he calls for a change in our way of thinking about the economy. Economics today, he argues, are far removed from the realities of the market and human behaviour. Politicians should focus not on rescuing companies but on rescuing people. In his opinion, the real costs of the crisis are much higher for individuals than financial institutions.Krugman's second argument is based on principles of state. Because the state is complementary to the market, if the market is inefficient the public administration has to take on the role of private entities not only when profit is possible but also anytime when potential losses are too high.Third, Krugman focuses on inflation and budgetary deficits. What he calls "main threads" commonly raised in public discourse are, according to him, a smokescreen. Presenting them as threads only expands on a misunderstanding of the nature of the crisis and raise unreasonable fears among society.Krugman writes that the aim of his book is to explain that the present economic problems are not the result of wrong decisions made in the past but rather the consequence of the actions of politicians who do not know what to do with a sinking economy. Even if in times of prosperity risky decisions were made by top bank management and politicians, the effects should have worn off by now. Krugman repeatedly provides support for his arguments through examples of economic processes and debunks explanations made by mainstream economists as being inconsistent with the facts. Whatever one makes of his arguments, Krugman's views are certainly worth reading.End This Depression Now! was written from a U.S. point of view, that is, as a huge country with a well-developed economy, a global currency, and more than 316 million potential customers in the domestic market alone. It goes without saying that this perspective is significantly different than that of Estonia, Latvia, Hungary or even Poland. …

End This Depression Now

We are living in a world that is changing rapidly and becoming more globalized. Especially the changes in the areas of science, technology and economy are becoming effective in the areas like education and health that are closely related to human life. We are experiencing a quick process named ’globalization’ that changes economic, social and political structures of the world and that no one can predict the outcome. These changes create new opportunities while opening new challenging areas. In order for countries to compete with each other, they need to be creative in all areas and they also need to be reformist to cope with domestic, national and global problems. In this study, the innovations in the area of education throughout the world will be examined and the place of Turkey compared to other countries in educational innovations will be analyzed. Also the concept of ‘Charter Schools’ as acceleration in educational innovation in the United State of America, who is the leader in terms of innovation in the World, will be analyzed. This study will also analyze the Charter Schools in the USA and discuss whether the concept can be implemented in Turkey and bring dynamism to education or increase the quality of education. While looking for the answers of these questions, the researcher conducted a literature review and also used the data he gathered while staying in the USA for nine years for pursuing his MA and PhD degrees.

Innovation and Education

The paper discusses options for tourist development of the Altai-Sayan region. For this purpose, a comparison is made between the current state of tourism and sustainable development of tourism. This makes it possible to propose five stages for the strategy of sustainable tourism development in the Altai-Sayan mountain region. The preservation of biodiversity and ethnic characteristics of the territory underlie the ethnoecological type of tourism, being the most consistent with the principles of sustainable development and promising in the studied mountain region. Functional zoning is considered as an important method for balancing and optimizing environmental management. It is proposed to use the landscape-adaptive principle as a basis for spatial planning of tourist service in the mountainous region. The spatial elements of the tourist network of the mountain region were analyzed. This made it possible to reveal the predominance of the linear structure in connection with the mountain-valley relief. There are also examples of radiation, dispersion, focal and linear-perpendicular structures of tourist networks. This allowed highlighting the priorities of tourist development for different territories. Functional zoning of the Altai-Sayan region with the identification of priorities in the development of the territory was proposed. This allowed identifying the spatial distribution of areas of intensive tourist use and areas of nature preservation and ecotourism. In addition, zones of weak economic development were identified with a predominance of tourist routes, as well as those of medium economic development with local tourist centers.

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Selection of strategic priorities for sustainable development of tourism in a mountain region: Concentration of tourist infrastructure or nature-oriented tourism

The current situation in the area of innovative development of the Russian economy is in bad condition and reveals pronounced tendencies for aggravation, especially in the areas of critical high production technologies. This creates strong social threats to national security. One of the main forming causes of the innovation crisis is the low management quality, including state regulation, which is done empirically. The existing regulatory framework is represented by unsystematic conglomerate of federal laws, decrees of the President of the Russian Federation and regulations of various levels. It does not contribute to the accelerated development of productive innovation activity. It seems necessary to synthesize a scientifically based mechanism for innovation implementation and legal regulations for its functioning.

Formation of the national economy of Russia in the context of state support of innovation actions

The article explores the main problems and features of one of the most relevant phenomena today - digital transformation, which implies fundamental changes in the activities of organizations based on the use of digital technologies. The paper reviews sources on the problems of building a digital economy and moving a business to the digital level. The purpose of this study is to identify the main difficulties for the restructuring of organizations' processes on a digital format, as well as the formation of the theoretical and conceptual foundations of digital business transformation in the face of uncertainty and variability of the modern business environment. Using the methods of analysis, generalization, comparison, synthesis, deduction, induction, the essence of digital transformation is studied, Russia's positions among other countries in terms of readiness for the digital economy are analyzed, problems and barriers that impede the process of digital transformation for Russian and foreign companies are formulated. Based on the use of a systematic approach, methods of scientific abstraction, economic modelling, the work identifies the main functional areas of change, presents a loop of digital business transformation that reflects its main stages, necessary components and changes, and describes key segments of new digital business models of companies. The results can be used to conduct further theoretical and methodological and practice-oriented research in the field of digital business transformation, and can also be used by design teams of organizations to analyze the problems of switching to a digital format, develop a digital transformation strategy and rebuild a business model.

/pdf/problems-of-business-processes-transformation-in-the-context-c8nwn1du37.pdf

Problems of business processes transformation in the context of building digital economy

The economic and financial crises of recent decades that have spread across the world question some of the core principles of our economic system. In a joint effort to strengthen our future, we continue to learn from another financial crisis that shook the global financial system. Good corporate reporting should greatly contribute to the restoring of lost confidence. Companies need to establish a more open and effective interaction with investors and other interested parties and hold discussions in a simple understandable language to communicate plans for sustainable development. For their part, stakeholders require more transparent information about the strategy, business models, risks and business prospects of the companies and organizations with which they deal. Under these conditions, the role of financial and non-financial public reporting and the requirements to quality of information disclosure are significantly increasing. The priority direction of corporate information presenting is the preparation of integrated corporate reporting, which is increasingly seen as a modern, effective management tool for an organization, providing the necessary information connectivity and completeness of information disclosure about sustainable business development. The article considers the main aspects of the implementation of integrated reporting, its main features and principles of preparation, the main application problems of corporate integrated reporting in Russia.

http://www.eurasianjournals.com/pdf-110304-40609?filename=Corporate Reporting of.pdf

Corporate Reporting of the Future: On the Pathtowards New through the Analysis of Today

In modern conditions of business management, the issues of the efficient use of financial resources are of particular importance, ensuring the constant solvency of production enterprises. For this purpose, it becomes necessary to organize specialized functional units-treasuries in the management structure of vertically integrated companies. One of the tasks that such divisions solve is the operational control, the centralized accumulation of temporarily free funds from enterprises, branches, and divisions that are part of the holding. These funds are further used either for instant repayment of urgent obligations or placed in short-term financial assets that generate income. Based on a critical study of classical approaches to the organization of operational cash management at production enterprises, the directions of reorganization of the cash flow management system for increasing the profitability of the financial activities of the company are proposed. The paper shows the key features of financial resources management in a vertically integrated production company using dealing operations. An original method of assessing the effectiveness of cash flow management for attracting and temporary placement of free cash assets is proposed. The authors also focus on the functioning of the financial service in the management structure of a manufacturing company and the algorithm for evaluating the effectiveness of short-term transactions that contribute to generating additional income and minimizing financial risks.

Dealing Operations as a Means of Improving the Efficiency of the Financial Management of a Production Company

Economic analysis of investment activity

The article is devoted to solving a number of issues related to the procedure for disclosure of information regarding the environmental, social and managerial components of the strategic development of business entities for the purposes of ESG-rating of Russian companies according to integrated corporate reporting. The review of foreign and domestic methodological recommendations and special publications on the formation of the content of corporate reporting on sustainable development is presented. Methodological approaches and regulations for the preparation of reporting sections containing ESG information necessary to determine the rating of companies are described, which ensures an increase in their investment attractiveness, eliminates the asymmetry of disclosure of results and forecasts of business development in relation to various groups of interested users.

The impact of ESG principles on corporate reporting

The article discusses methodological approaches to the formation of information and analytical support for evaluating the performance of organizations, which is necessary for internal governance for quality management of business processes. The directions of improving accounting practices and preparing financial and managerial reports that contribute to achieving business transparency, taking into account the information interests of various groups of interested users, are substantiated. A new approach to the organization of accounting processes based on the principle of connectedness of elements of the accounting and analytical system through continuous multi-level coding of operations using modern IT technologies is presented.

Reforming the methodological support of the information and analytical base for evaluating the effectiveness and investment attractiveness of organizations

Nataliya S. Plaskova

Papers

Corporate Reporting of the Future: On the Pathtowards New through the Analysis of Today

Dealing Operations as a Means of Improving the Efficiency of the Financial Management of a Production Company

Economic analysis of investment activity

The impact of ESG principles on corporate reporting

Reforming the methodological support of the information and analytical base for evaluating the effectiveness and investment attractiveness of organizations