MANAGEMENT IN CRISIS - CAUSES AND SCALES OF WORLD ECONOMIC CRISIS AND THE WAYS OF OVERCOMING IT

Tomislav Brzaković

Abstract


The word crisis is among the most frequently used words in the last few years. The financial crisis, caused primarily in the U.S. by mortgage credit market collapse, quickly spread on the entire world and affected the financial as well as real sectors. Economic science looked differently on the crisis through the history. The causes of crisis ranged from system characteristics and institutional characteristics of the economy, to inadequate economic policies and the greed of certain groups, particularly financial institutions and companies. Today, the world's financial transactions far exceed the value of world trade, a phenomenon known as financialization, resulting in the transfer of real income in the financial sector. Measures taken to overcome the crisis are of historic significance because the future sustainable development and configuration of the global financial and economic system will depend on their effectiveness.

Keywords


postal traffic, electronic services, new technology

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References


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