THE PARADIGM SHIFT IN THE CUSTOMER-BANK RELATIONSHIP IN THE NEW POST-CRISIS WORLD ECONOMY: THE MARKET AND THE MARKET PARADIGM SHIFT IN THE NEW WORLD ECONOMY
THE PARADIGM SHIFT IN THE CUSTOMER-BANK RELATIONSHIP IN THE NEW POST-CRISIS WORLD ECONOMY: THE MARKET AND THE MARKET PARADIGM SHIFT IN THE NEW WORLD ECONOMY

Summary/Abstract: Looking at the market through the prism of John Komlos, you shake the foundations of the beliefs of the capitalist system. The reality that you find by studying capitalism according to these indicators is a disappointing one in terms of creating people's well-being. However, we must not forget that only the competition between companies operating in this market, starting with the industrial revolution, continuing with the information revolution has brought humanity to this point of evolution. Scientific and technical discoveries, new technologies that have led to the improvement of life and the increase of life expectancy have been facilitated by the capitalist system which presupposes competition and the free market as two essential conditions. That's why I can't be as critical of this system as Mr. John Komlos is. In my opinion, the market is clear that one cannot self-govern and also one cannot always self-correct. These two essential functions cannot belong to the markets but to an arbitrator, to a third party who will implement them having as main objective the efficient functioning of the markets in order to create the welfare of the majority of people. This contradicts one of the basic principles of economics, which says that there must be no direct link between economics and politics.

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