Upadłość jako prawne narzędzie utrzymania rozwoju gospodarczego
Bankruptcy as a Legal Tool for Maintaining Economic Development

Summary/Abstract: The so-called consumer capitalism has become a feature of the global market economy. The creation and control of consumer demand is the key issue for the current socio-economic system. The constant growth of people’s artificial needs has become the imperative of modern capitalism, in contrast to productive capitalism, whose prosperity had been achieved by increasing productivity and satisfying the real needs of people. Capitalism in the present stage depends to the large extent on consumption, not productivity, hard work or far-sighted investments. The only way to sustain the consumption is debt, it’s a magic tool that accomplishes human desires, but mostly only temporary and it ends with mental, physical and economic collapse. The ostentatious consumption in the global world has become a virtue, as it indirectly contributes to the maintenance of economic development. Economic growth is, after all, the main measure of citizens’ happiness. In consumer society, economic growth depends not so much on the productive power of the country as on the consumers’ consumption capacities. If the majority of society accumulated savings without investing them, it would lead to the collapse of the market. This work aims to show the impact of contemporary socio-economic conditions on the creation of legal norms in the field of insolvency. The Author formulates the thesis that the legal regulation of bankruptcy is necessary to maintain economic development.

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