Journal of Business and Economic Development

| Peer-Reviewed |

“Progressive Capitalism” by J. Stiglitz: Rethinking the Priorities of Its Formation

Received: 01 October 2019    Accepted: 21 October 2019    Published: 28 October 2019
Views:       Downloads:

Share This Article

Abstract

The article analyzes the priorities of “progressive capitalism” by Joseph E. Stiglitz and investigates the main conditions of its formation in Ukraine. The following problems are discussed: the strong influence of narratives of the eastern institutional matrix on the development of national economy and political system; unjustified differentiation of the interests of power, business, science and civil society; neglect of the scientific research and the need for institutional change by public authorities and local self-government bodies; high level of national markets monopolization; a strong link between economic power and political influence; legal nihilism and political apathy of the population. Expediency of implementing additional fifth priority, which foresees the use of innovative models, technologies and instruments for managing the intellect using and intellectualization of the national elite and human resources in general, is justified on the basis of the theoretical frameworks and practical recommendations, which were developed by Ukrainian scientists. Taking into account the results of the formation and development of the Presidential Personnel Reserve “New Elite of the Nation”, the authors have initiated the creation of the Laboratory of Intellectual Development for Empowering Regions (LIDER), which will implement a pilot project for the intellectual resources development in the Western region within the framework of the realization of the Ukrainian-Lithuanian program “Competence Development of Lithuanian and Ukrainian Public Sector Employees Using Design-Thinking Methodology”.

DOI 10.11648/j.jbed.20190404.11
Published in Journal of Business and Economic Development (Volume 4, Issue 4, December 2019)
Page(s) 128-133
Creative Commons

This is an Open Access article, distributed under the terms of the Creative Commons Attribution 4.0 International License (http://creativecommons.org/licenses/by/4.0/), which permits unrestricted use, distribution and reproduction in any medium or format, provided the original work is properly cited.

Copyright

Copyright © The Author(s), 2024. Published by Science Publishing Group

Keywords

Progressive Capitalism, Intellect, Intellectualization, Elite, Human Resources, Management, Pilot Project

References
[1] E. J. Stiglitz, “After Neoliberalism”, Project Syndicate, 2019. [Online]. Available: https://www.project-syndicate.org/commentary/after-neoliberalism-progressive-capitalism-by-joseph-e-stiglitz-2019-05 Accessed on August 12, 2019.
[2] Ye. A. Revtyuk, “Management of manufaturing-economy complexes on bases of the use of intellectually-resource potential”, PhD thesis, Lviv Politech., Lviv, Ukraine, 2005 [in Ukrainian].
[3] V. P. Petrenko, Management of the processes of intellectual use in socio-economic systems, Ivano-Frankivsk: Nova Zorya, 2006 [in Ukrainian].
[4] A. V. Chornyi, “Innovative management of intellectual resources of socio-economic systems”, PhD thesis, Feod. Fin.-Econ. Acad. Feodosiia, Ukraine, 2011 [in Ukrainian].
[5] V. P. Petrenko, “Intellectualization management of intellectual resources - urgent need of modern society”, World Scientific News, vol. 57, 2016, pp. 674-679.
[6] S. Ya. Kys’, “The scientific foundation of intellectual activity of enterprises”, Doctoral thesis, IFNTUOG, Ivano-Frankivsk, Ukraine, 2016 [in Ukrainian].
[7] Yo. S. Sytnyk, “Intellectualization of enterprise management systems. Concept, systematic monitoring and modeling”, Doctoral thesis, Lviv Politech., Lviv, Ukraine, 2018 [in Ukrainian].
[8] O. O. Druhov, Investment support for intellectualization of Ukrainian economy. Kyiv: UBS NBU, 2010 [in Ukrainian].
[9] N. V. Hunchak, T. H. Vasyltsiv, and O. Ye. Sukhai, State regulation of the intellectualization of the economy of Ukraine. Lviv: Apriori, 2016 [in Ukrainian].
[10] Ye. V. Fomina, “Intellectualization of the global economic development”, PhD thesis, Karazin Khark. Nation. Univ., Kharkiv, Ukraine, 2019 [in Ukrainian].
[11] E. M. Porter, “The competitive advantage of nations, states and regions”, 2011. [Online]. Available: https://www.hbs.edu/faculty/Publication%20Files/2011-0707_Malaysia_vcon_b3574e10-758b-483f-b6c5-f7439d7c58e9.pdf Accessed on August 14, 2019.
[12] E. M. Porter, “The Competitive Advantage of Nations”, Harvard Business Review, no 90211, March - April, 1990, pp. 73-91.
[13] H. Etzkowitz, “The Triple helix university-industry-government relations”, EASST Review, vol. 14, no. 1, 1995, pp. 14-19.
[14] L. Leydesdorff, “The Triple helix, Quadruple helix, … and an N-tuple helixes: explanatory models for analyzing the knowledge-based economy”, Journal of the Knowledge Economy, vol. 3, no. 5, 2012, pp. 25-35.
[15] S. P. MacGregor, Sustaining innovation. Collaboration models for a complex world. New York: Springer, 2012.
[16] V. I. Vartsaba, Management of regional development: theory and practice of harmonization of goals and interests of power, science, business. Ivano-Frankivsk: IFNTUNG, 2015 [in Ukrainian].
[17] V. I. Vartsaba, “Theoretical and methodological principles of managing the process of harmonizing the regional economy development”, Doctoral thesis, PoltNTU, Poltava, Ukraine, 2016 [in Ukrainian].
[18] V. I. Vartsaba, S. Ya. Kys’, V. P. Petrenko, and Ye. A. Revtyuk, “On conditions for the rational management of the use of joint oil and gas resources of Ukraine: the problem of harmonization of goals and interests of key groups of influence”, Scientific Bulletin of IFNTUNG, vol. 2 (12), 2015, pp. 15-23.
[19] I. Danyliuk-Chernykh, V. Vartsaba, V. Petrenko, and Z. Matsuk, “Financial resources governance of Ukraine: identification of opportunities and conditions for improvement”, in Springer Proceedings in Business and Economics. Springer, Cham, 2019, рр. 63-71.
[20] E. M. Isaieva, “Organizational mechanism for state management of the main pipeline systems of Ukraine under the conditions of European integration”, PhD thesis, IFNTUNG, Ivano-Frankivsk, Ukraine, 2016 [in Ukrainian].
[21] N. Ferguson, Civilization. The West and the Rest. London: Penguing Books, 2012.
[22] S. Kirdina, and G. Sandstrom, “Institutional matrices theory as a framework for both western and non-western people to understand the global village”, MPRA Paper, no. 18642, Germany: University Library of Munich, July, 20, 2010.
[23] O. Molodtsov, “Methodological aspects of the institutional matrix theory in the context of the dynamics of institutional changes”, Theory and Practice of Public Administration and Local Self-Government, vol. 2, [Online]. Available: http://el-zbirn-du.at.ua/2016_2/8.pdf [in Ukrainian]. Accessed on August 4, 2019.
[24] Ye. Bolotina, “The institutional matrices of society and the transformational economy of Ukraine”, Business-inform, vol. 10, 2016, pp. 14-21 [in Ukrainian].
[25] O. L. Alymov, A. I. Danylenko, and V. M. Trehobchuk, Economic development of Ukraine: institutional and resource supporting. Kyiv: NAS of Ukraine, 2005 [in Ukrainian].
[26] R. Panasiuk, V. Petrenko, Kh. Popova, and Y. Yasinska, “Reengineering the human resources mentality as an integral part of the process of successful changes management in socio-economic systems”, International Journal of Innovative Technologies in Economy, vol 1, 2018, pp. 60-68 [in Ukrainian].
[27] R. V. Voitovych, “Elite intellectualization as a technocratic condition of institutional leadership in public administration”, Bulletin of NAPA, vol. 1, 2015, pp. 48-53 [in Ukrainian].
[28] V. P. Yakobchuk, S. V. Tyshchenko, and N. S. Puhachova, “Innovative approaches to public administration in the context of the intellectualization of society”, Investment: practice and experience, vol. 6, 2018, pp. 83-87 [in Ukrainian].
[29] O. M. Zelinska, “State regulation of monopoly in the transformation economy of Ukraine”, PhD thesis, Franko NUL, Lviv, Ukraine, 2009 [in Ukrainian].
[30] R. A. Popov, “State policy of Ukraine in the field of antitrust activity”, PhD thesis, Clas. Priv. Univ., Zaporizhzhia, Ukraine, 2010 [in Ukrainian].
[31] A. O. Kyryliuk, “State regulation of the monopolized markets of Ukraine”, Business-inform, vol. 11, pp. 30-35, 2014 [in Ukrainian].
[32] H. M. Fyliuk, “High level of monopolization of the Ukrainian economy is a barrier to improving its competitiveness”, Bulletin of KPNU: Economic sciences, vol. 10, 2015, pp. 102-109 [in Ukrainian].
[33] M. Zaslavska, “Paradise for the oligarchs. Ideal opportunities for the prosperity of monopolies prevail in Ukraine”, Tyzhden.ua, 2012. [Online]. Available: https://tyzhden.ua/Economics/57500 [in Ukrainian]. Accessed on August 16, 2019.
[34] M. E. Zaidel, “Interaction between government and business in non-Western countries”, The Journal of Karazin Khark. Nation. Univ. Issues of political science, no. 1060, 2013, pp.150-154 [in Ukrainian].
[35] L. Lukianenko, “The biggest disaster in the country is when business and power are combined”, Hlavkom, 2018. [Online]. Available: https://glavcom.ua/publications/-naybilshe-liho-v-krajini-koli-biznes-i-vlada-pojednani-zapovit-levka-lukyanenka-510949.html [in Ukrainian]. Accessed on August 16, 2019.
[36] V. Cherniak, “Corruption combating in Ukraine is imitation”, Ukrainian Reporter, 2018. [Online]. Available: http://ukrreporter.com.ua/politic/ekonomist-volodymyr-chernyak-zayavyv-borotba-z-koruptsiyeyu-v-ukrayini-imitatsiya.html [in Ukrainian]. Accessed on August 16, 2019.
[37] V. M. Heits, Socio-economic status of Ukraine: implications for people and the state. Kyiv: NVTs NBUV, 2009 [in Ukrainian].
[38] O. Yo. Paskhaver, L. T. Verkhovodova, and K. M. Aheieva, Big Ukrainian capital: relations with government and society. Kyiv: Dukh & litera, 2007 [in Ukrainian].
[39] V. Holovchenko, “Non-formal education boom. Does this lead to the Dunning-Kruger effect?”, LB.ua, 2019. [Online]. Available: https://lb.ua/blog/vyacheslav_golovchenko/416313_bum_neformalnoi_osviti_chi.html [in Ukrainian]. Accessed on August 16, 2019.
[40] K. C. Laszlo, “The evolution of business: learning, innovation and sustainability in the 21st century”, in Paper 45th Annu. Conf. of The International Society for the Systems Sciences (ISSS), Asilomar, California, July 2001. [Online]. Available: https://www.oasis-open.org/committees/download.php/20459/06-09-00014.000.pdf Accessed on August 17, 2019.
[41] P. Koestenbaum, “Looking back and looking to the future: the growing role of personal responsibility and accountability”, The Journal of AQP, 2001. [Online]. Available: http://www.pib.net/jqpPK.pdf Accessed on August 18, 2019.
[42] S. Vovkanych, “Ukrainian national idea and its intellectual support”, Human and Politics, vol. 2, 1999, pp. 36-41 [in Ukrainian].
[43] S. Vovkanych, “National elite and intellectual potential of the nation (epistemological aspect) ”, Philos. and sociol. thought, vol. 7-8, 1996, pp. 3-15 [in Ukrainian].
[44] S. Vovkanych, “The elite's priority is intelligence and creativity in harmony with spirituality”, Modernity, vol.7-8, 1997, pp. 189-197 [in Ukrainian].
[45] Ye. G. Mykhaileva, Intellectual elite in the matrix of modern civilizational changes. Kharkiv: NUA, 2007 [in Ukrainian].
[46] T. L. Friedman, The world is flat 3.0: a brief history of the twenty-first century. Further updated and expanded. New York: Picador / Farrar, Straus and Giroux, 2007.
[47] M. Orliv, In-service training for senior executives of public authorities: mechanisms for the modern model formation. Kyiv – Ivano-Frankivsk: “Lileia NV”, 2018 [in Ukrainian].
[48] V. Goshovska, B. Kostenko, “Problems of formation of the order of evaluation of participants in the selection of candidates in the personnel reserve for the President of Ukraine”, Analytics and Power, vol. 5, 2012, pp. 15-20 [in Ukrainian].
Author Information
  • Institute of Humanities and Public Administration, Ivano-Frankivsk National Technical University of Oil and Gas, Ivano-Frankivsk, Ukraine

  • Institute of Humanities and Public Administration, Ivano-Frankivsk National Technical University of Oil and Gas, Ivano-Frankivsk, Ukraine

  • Institute of Humanities and Public Administration, Ivano-Frankivsk National Technical University of Oil and Gas, Ivano-Frankivsk, Ukraine

  • Institute of Humanities and Public Administration, Ivano-Frankivsk National Technical University of Oil and Gas, Ivano-Frankivsk, Ukraine

  • Institute of Humanities and Public Administration, Ivano-Frankivsk National Technical University of Oil and Gas, Ivano-Frankivsk, Ukraine

Cite This Article
  • APA Style

    Dmytro Dzvinchuk, Victor Petrenko, Mariana Orliv, Andriy Mazak, Iryna Ozminska. (2019). “Progressive Capitalism” by J. Stiglitz: Rethinking the Priorities of Its Formation. Journal of Business and Economic Development, 4(4), 128-133. https://doi.org/10.11648/j.jbed.20190404.11

    Copy | Download

    ACS Style

    Dmytro Dzvinchuk; Victor Petrenko; Mariana Orliv; Andriy Mazak; Iryna Ozminska. “Progressive Capitalism” by J. Stiglitz: Rethinking the Priorities of Its Formation. J. Bus. Econ. Dev. 2019, 4(4), 128-133. doi: 10.11648/j.jbed.20190404.11

    Copy | Download

    AMA Style

    Dmytro Dzvinchuk, Victor Petrenko, Mariana Orliv, Andriy Mazak, Iryna Ozminska. “Progressive Capitalism” by J. Stiglitz: Rethinking the Priorities of Its Formation. J Bus Econ Dev. 2019;4(4):128-133. doi: 10.11648/j.jbed.20190404.11

    Copy | Download

  • @article{10.11648/j.jbed.20190404.11,
      author = {Dmytro Dzvinchuk and Victor Petrenko and Mariana Orliv and Andriy Mazak and Iryna Ozminska},
      title = {“Progressive Capitalism” by J. Stiglitz: Rethinking the Priorities of Its Formation},
      journal = {Journal of Business and Economic Development},
      volume = {4},
      number = {4},
      pages = {128-133},
      doi = {10.11648/j.jbed.20190404.11},
      url = {https://doi.org/10.11648/j.jbed.20190404.11},
      eprint = {https://download.sciencepg.com/pdf/10.11648.j.jbed.20190404.11},
      abstract = {The article analyzes the priorities of “progressive capitalism” by Joseph E. Stiglitz and investigates the main conditions of its formation in Ukraine. The following problems are discussed: the strong influence of narratives of the eastern institutional matrix on the development of national economy and political system; unjustified differentiation of the interests of power, business, science and civil society; neglect of the scientific research and the need for institutional change by public authorities and local self-government bodies; high level of national markets monopolization; a strong link between economic power and political influence; legal nihilism and political apathy of the population. Expediency of implementing additional fifth priority, which foresees the use of innovative models, technologies and instruments for managing the intellect using and intellectualization of the national elite and human resources in general, is justified on the basis of the theoretical frameworks and practical recommendations, which were developed by Ukrainian scientists. Taking into account the results of the formation and development of the Presidential Personnel Reserve “New Elite of the Nation”, the authors have initiated the creation of the Laboratory of Intellectual Development for Empowering Regions (LIDER), which will implement a pilot project for the intellectual resources development in the Western region within the framework of the realization of the Ukrainian-Lithuanian program “Competence Development of Lithuanian and Ukrainian Public Sector Employees Using Design-Thinking Methodology”.},
     year = {2019}
    }
    

    Copy | Download

  • TY  - JOUR
    T1  - “Progressive Capitalism” by J. Stiglitz: Rethinking the Priorities of Its Formation
    AU  - Dmytro Dzvinchuk
    AU  - Victor Petrenko
    AU  - Mariana Orliv
    AU  - Andriy Mazak
    AU  - Iryna Ozminska
    Y1  - 2019/10/28
    PY  - 2019
    N1  - https://doi.org/10.11648/j.jbed.20190404.11
    DO  - 10.11648/j.jbed.20190404.11
    T2  - Journal of Business and Economic Development
    JF  - Journal of Business and Economic Development
    JO  - Journal of Business and Economic Development
    SP  - 128
    EP  - 133
    PB  - Science Publishing Group
    SN  - 2637-3874
    UR  - https://doi.org/10.11648/j.jbed.20190404.11
    AB  - The article analyzes the priorities of “progressive capitalism” by Joseph E. Stiglitz and investigates the main conditions of its formation in Ukraine. The following problems are discussed: the strong influence of narratives of the eastern institutional matrix on the development of national economy and political system; unjustified differentiation of the interests of power, business, science and civil society; neglect of the scientific research and the need for institutional change by public authorities and local self-government bodies; high level of national markets monopolization; a strong link between economic power and political influence; legal nihilism and political apathy of the population. Expediency of implementing additional fifth priority, which foresees the use of innovative models, technologies and instruments for managing the intellect using and intellectualization of the national elite and human resources in general, is justified on the basis of the theoretical frameworks and practical recommendations, which were developed by Ukrainian scientists. Taking into account the results of the formation and development of the Presidential Personnel Reserve “New Elite of the Nation”, the authors have initiated the creation of the Laboratory of Intellectual Development for Empowering Regions (LIDER), which will implement a pilot project for the intellectual resources development in the Western region within the framework of the realization of the Ukrainian-Lithuanian program “Competence Development of Lithuanian and Ukrainian Public Sector Employees Using Design-Thinking Methodology”.
    VL  - 4
    IS  - 4
    ER  - 

    Copy | Download

  • Sections