Politická ekonomie, 2009 (vol. 57), issue 5

Articles

Monopoly centrálních bank a emise peněz

Central Bank Monopolies and Money Issuance

Zbyněk Revenda

Politická ekonomie 2009, 57(5):579-600 | DOI: 10.18267/j.polek.699  

The article deals with the role of the central banks in advanced market economies and the theoretical possibility of abolishing these institutions. Central banks have monopolies in some areas, especially regarding monetary policy. In many countries, central banks also have monopolies in other areas, for example in the payment and clearing transactions for banks and the state. In the context of the financial crises, there have been calls for the abolition of central banks and the restoration of money fully-backed by gold and issued by different subjects. The main reasoning behind these requests is connected with the accusation that central banks have...

Možnosti řešení problematických aktiv komerčních bank

Selective Approaches and Experiences with Problematic Assets in Banking Sector

Miroslav Kollár, Luboš Komárek

Politická ekonomie 2009, 57(5):601-621 | DOI: 10.18267/j.polek.700  

This paper analyses various approaches to dealing with problematic assets of the banking sector. These approaches include the establishment of an asset management company, capital injection and sale of the bank, purchase and assumption transactions, liquidation or bridge bank. All these approaches are evaluated with respect to Czech transformation experience and with respect to experience of other foreign countries. The paper concludes that the establishment of Czech Consolidation Agency (Czech Consolidation Bank, respectively) was the least suitable approach to dealing with problematic assets in the Czech banking sector during the period of the transformation....

Globalizace a světové hospodářství

Globalization and the World Economy

Libor Žídek

Politická ekonomie 2009, 57(5):622-643 | DOI: 10.18267/j.polek.701  

The paper deals with the phenomenon of globalization. The author finds globalization highly questionable concept because there is deep disunity about its definition among the authors. In the first part of the paper different concepts of globalization are summed up. According to author's view there are two main approaches towards globalization - the first considers it as (more or less lasting) integration and the second as a completely new contemporary process. The author regards globalization as a long lasting integration. But he finds that the present integration has a few specifics that are analyzed in the following part of the paper. In the consequent...

Teorie redistribučních systémů

Theory of Redistribution Systems

Petr Budinský, Radim Valenčík

Politická ekonomie 2009, 57(5):644-659 | DOI: 10.18267/j.polek.702  

Theory of redistribution systems is an application and at the same time extension of Game Theory. It deals with functioning of institutions, establishments, firms and others social systems, in that pay-offs are redistributed in contrast to achievement of individual players. The redistribution is usually allowed by a coalition, formed inside of redistribution system, that disposes of dominance over the pay-offs' redistribution. Model of Elementary Redistribution System composes of three players bringing interesting and usable knowledge. The achievements of players are divided in the rate of simple numbers. Redistribution equation describing all possibilities...

Consultations

Problém zastoupení v nové institucionální ekonomii

The Agency Problem in New Institutional Economics

Tomáš Otáhal

Politická ekonomie 2009, 57(5):677-695 | DOI: 10.18267/j.polek.704  

The aim of the paper is to set the agency problem into a broad context of New Institutional Economics with an emphasis on historical connections. In the first section, I explain the historical evolution of basic theoretical concepts like the theory of firm, the theory of market process and the theory of property rights. The second section is dedicated to the explanation of the general concept of agency problem extended with the problem of asymmetric information leading to adverse selection and the problem of moral hazard, in context of previous historical connections. In the last section, the author provides some suggestions for the further theoretical...

Návrh klasifikace soudobých sociálně-ekonomických přístupů k teorii růstu

The Proposal of Original Classification of Contemporary Social-Economic Approaches to the Growth Theory

Luděk Kouba

Politická ekonomie 2009, 57(5):696-713 | DOI: 10.18267/j.polek.705  

The paper works with assumptions, that the conclusions of mainstream approaches to the growth theory are problematical; there are alternative social-economic approaches to the theory of economic growth that offer more plausible explanations of the fundamental economic questions than the traditional views; both social-economic lines of thought and social-economic approaches to the growth theory are not systematized. Considering of these matters, the main aim of this paper is to propose original classification of contemporary social-economic approaches to the growth theory and consecutively to characterize these classified approaches. Two partial streams...

Discussion

Ekonomie životního prostředí na rozcestí

Economics of the Environmental Protection on the Crossroad

Jiřina Jílková, Lenka Slavíková

Politická ekonomie 2009, 57(5):660-676 | DOI: 10.18267/j.polek.703  

Neoclassical environmental economics, ecological economics and free market approaches to environmental protection are currently three main schools of thoughts that are systematically focused on interactions between the society and the environment. They all have strong defenders as well as opponents. Although the environmental economics is still considered as mainstream, the critique from alternative approaches is increasing. The goal of the article is to briefly introduce main thoughts of all three schools and their interactions. The intensity of mutual interactions in the last decade was investigated via the analysis of articles published in high-rated...