1. Is the global economic system worth the crisis? Cristian Radu Barna Babes-Bolyai University

2. The global economic system Technological revolution  production system  society changes A new world :- conception of the world - our fundamental values - social and political structures Economy, problems, people and their feelings, are global a new system  post-modern capitalism

3. Capitalism – dynamic system which evolves The configuration of the global system is based on: - NTIC - Knowledge - Finance american “new age”  new-system The global economic system

4. 18151875 1920 19652040 17601850189019441990 First industrial revolution Second industrial revolution Third industrial revolution Steam engine Railways Electricity, chemistry, explosion engines Petrol, plastic, electric motor NTIC, biotechnologies, new materials Kondratieff cycles

5. New Technologies of Information and Communication NTIC  immaterial economy  knowledge  social yield  growth and development Knowledge  transparency  consumption exclusivity  rival character of consumption

6. Evolution of the profit rates Europe 23 USA 19 1960 1970 1980 1990 2000 2008

7. In order to restore the profit rates in the 90’  “The Conservative Revolution” investments liberalization dereglementation Profit rates

8. Economic models in the crisis Relation market – democracy - resources which are conditioning democracy - power to organizations and groups Equilibrium market – democracy - institutional development - equity - civil society

9. Flexicurity Flexibility of hiring and firing personnel High unemployment benefits Active policies for the workforce (formation, rules of disponibilty, etc.)

10. Conditions for development Equilibrium between individual performances and the expression of the collective interest Equilibrium between economic growth and institutional development Compromise between economic dynamism and the adhesion to collective values Equilibrium between material, individual and common values Equilibrium between traditional values and performances

11. The Magic Diamond capitalism Social democracy Economic growth Institutions and political stability Valorization of individual performances Adhesion to collective values

12. Another world is possible Many countries – different policies – various results Asian and Nordic countries: - role of the State and of the family - long-term thinking - objectives that take into account the stakeholders not only the shareholders