e-journal

Economy of post-Communist capitalism under the financial crisis

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Purpose – The purpose of this paper is to distinguish the economic foundations of post-Communist
capitalism and to examine the key economic problems of this type of society in the context of the
modern financial crisis.
Design/methodology/approach – This question is approached by studying the “necroeconomy”
as a phenomenon of post-Communist capitalism and the international experience of the dead firms,
so-called “zombie-firms”, which do exist and “successfully” function in the most developed of
economies as well with Japan being the most obvious example. Unlike developed economies, which are
exposed to the threat of the zombie-ing of the economy under the conditions of a financial crisis, this
threat is even greater for the countries of post-Communist capitalism owing also to their exposure to
necroeconomy.
Findings – It is found that the financial crisis creates the favourable conditions for the zombie-ing of
a necroeconomy. If in Japan, for example, the zombie-economy never touched the processing
industries, then one of the qualities of the necroeconomy is to concentrate exactly upon this sector of
the economy. The zombie-ing of a necroeconomy inevitably amounts to the zombie-ing of this
already-dead sector as well.
Originality/value – The value of the paper is to determine the carriers of the necroeconomic and
zombie-economic routines – Homo Transformaticus and Zombie Economicus, respectively. The
contemporary financial crisis creates the danger of the transformation of Homo Transformaticus into
a Zombie Economicus.

Keywords Capitalism, Marxist economics, Market economy, World economy

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Informasi Detail

Judul Seri

Studies in Economics and Finance

No. Panggil

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Penerbit

: Emerald Group., 2010

Deskripsi Fisik

Studies in Economics and Finance Vol. 27 No. 2, 2010 pp. 135-147

Bahasa

English

ISBN/ISSN

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Klasifikasi

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Tipe Isi

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Tipe Media

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Tipe Pembawa

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Edisi

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Subjek

EKONOMI

Info Detail Spesifik

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Pernyataan Tanggungjawab

Asmawati/Syahrial

Versi lain/terkait

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