World economy and international economic relations

Alterglobalization via the inclusive circular economy paradigm

Economic Annals-XXI

Economic Annals-ХХI: Volume 174, Issue 11-12, Pages: 4-9

Citation information:
Krysovatyy, A., Mokiy, A., Zvarych, R., & Zvarych, I. (2018). Alterglobalization via the inclusive circular economy paradigm. Economic Annals-XXI, 174(11-12), 4-9. doi: https://doi.org/10.21003/ea.V174-01

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Andriy Krysovatyy
D.Sc. (Economics),
Professor, Rector,
Ternopil National Economic University
11 Lvivska Str., Ternopil, 46020, Ukraine
rektor@tneu.edu.ua
ORCID ID: http://orcid.org/0000-0002-5850-8224

Anatoly Mokiy
D.Sc. (Economics),
Professor,
Leading Researcher,
Department of Regional Economic Policy,
Institute of Regional Research named after M. I. Dolishniy of the National Academy of Sciences of Ukraine
4 Kozelnytska Str., Lviv, 79026, Ukraine
amokiy320@ukr.net
ORCID ID: http://orcid.org/0000-0001-8455-1421

Roman Zvarych
PhD (Economics),
Associate Professor, Vice-Director,
B. Havrylyshyn Education and Research Institute of International Economic Relations,
Ternopil National Economic University
11 Lvivska Str., Ternopil, 46020, Ukraine
romazvarych@yahoo.com
ORCID ID: http://orcid.org/0000-0003-3741-2642

Iryna Zvarych
PhD (Economics),
Associate Professor,
Doctoral Student,
Department of International Economics,
Ternopil National Economic University
11 Lvivska Str., Ternopil, 46020, Ukraine
irazvarych@gmail.com
ORCID ID: http://orcid.org/0000-0001-5155-540X

Alterglobalization via the inclusive circular economy paradigm

Abstract. The article is devoted to a study of economic imperatives of alterglobalization from the point of view of various scientific schools. The indicators of global development are analysed and the idea of free market self-stabilization has been verified in the context of the implementation of the Washington Consensus. The research is focused on the basic critical remarks to the processes of globalization, in particular on the phenomena of capital outflow and non-competitiveness as factors of its divergence. It has been determined that the trend towards globalization of international markets leads to a fundamental contradiction in which inequality inherent in this market contributes to increasing inequality in the developing world. It has been proved that the current model of economic globalization has some negative aspects characterised by sharp conflicts between different actors of global international relations. Actualization of the new alternative model of the world economy as a new stage of the process of economic transformation is required. It is pointed out that a circular economy is a new economic model which emphasises the reuse of materials and creation of added value through services and smart solutions. In this context, it is shown that such an integrated approach can help to understand how to maximize potential benefits, prioritize and offer different welfare models that can be obtained in a healthy environment. Ultimately, an inclusive circular economy must provide not only jobs and income, but also health, the environment and the future.

Keywords: Alterglobalization; Capital Outflow; Circular Supply Chains; Decoupling; Global Competitiveness; Global Inclusive Circular Economy; Noncompetitiveness; Circular Supply Chains

JEL Classification: F02; F52; F60; I32

DOI: https://doi.org/10.21003/ea.V174-01

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Received 17.06.2018

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