art-e-conomy _ reader - marko stamenkovic

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Unlike these countries, the United States, the United Kingdom, Australia, Denmark, Ireland,
New Zealand and the Netherlands have recorded favourable economic performances.
Some developing countries, such as Hong Kong, Singapore, South Korea and Taiwan,
are in the process of transition into economically more advanced group even in terms
of development. However, many countries at the bottom of the range, measured in per
capita national income, are facing difficult conditions and problems: inadequate human
resources, poor raw material basis and political instability, civil wars and regional conflicts.
Many of these countries also suffer from high levels of public expenditure, foreign debt,
macroeconomic instability and poor government. Although some developing countries are
managing to induce economic growth with macroeconomic and structural reforms, the
low level of their per capita income will require years and years of maintaining high rates
of economic growth to narrow the gap between themselves and developed countries.
As for transition economies, one of the key elements of their transition is their
reintegration into global economy. Before turning to socialism and centralised, i.e. planned
management of economy, these countries used to have per capita income equal to one
half or two thirds of income achieved in the most developed countries of Western Europe,
only to be left far behind them after several decades of experiment. The process of their
reintegration, through trade, financial flows and other elements, implies a time required
to remove the consequences of thus created dislocations, disproportions and isolations.
What seems to be the key question is how much has been achieved in this process over
the past years of transformation. Progress has been achieved in liberalising trade and
financial arrangements, although there are significant differences in the scope of trade
liberalisation between countries. Most countries have almost fully removed restrictions on
current transactions and taken steps towards liberalising financial flows. The reintegration
of transition economies into world economy is in progress, and the success in this process
varies from one country to another. The countries that have gone the furthest in this
process, in terms of general process in reform policy, are also the most advanced in the
reintegration process as well as their economic characteristics. However, even the most
advanced countries in this respect have achieved better results in trade, compared to
financial flows. According to the evidence of the World Bank, the most advanced transition
countries in the 1991-1996 period were the Czech Republic, Hungary, Estonia, Poland,
Slovakia, Croatia, Latvia, Slovenia and Lithuania (World Economic Outlook, 1997: 94).
The contribution of feminist economists to the development theory
and practice in the context of globalisation
Feminist economics does not only refer to women’s issues or gender; it also represents
a unique paradigm of understanding economics. Feminist economists include race,
gender and power relations, as well as conditions necessary for sustainable development
as the central components of economics. One of the implications of feminist economic
perspective is that, for example, the focus of feminist economic analysis is on interrelated
human activities, rather than the isolated individual ones.
There are, of course, differences both outside and inside feminist economic discourse
as to whether feminist economics is really a separate paradigm, or is it a specific interest
perspective. These are, however, exactly the discussions conducted regarding the new
paradigm, which is being developed. It is quite certain that an implicit consensus is being