• Konstantin Kolev, Maya Tsoklinova
    ECONOMIC INTERVENTIONISM UNDER PANDEMIC CONDITIONS: SIMILARITIES AND DIFFERENCES ON EU LEVEL
    Summary: The aim of this article is to classify 25 EU member states into homogeneous groups based on the relative shares of GDP of eight subgroups of government expenditures on economic affairs (according to the Classification of the Functions of Government - COFOG) and thus compare the extent of their governments’ intervention in economic affairs. The homogeneous groups were defined by means of a non-hierarchical cluster analysis (K-means) method using the Euclidean distance as a measure of dissimilarity. The results of the clustering of the 25 EU member states by government expenditure by economic function (according to COFOG) reveals the similarities and differences among these countries in terms of their economic interventionism. They also define which economic affairs need government intervention to mitigate the negative effects of the COVID-19 pandemic.
  • Velichka Nikolova
    EFFECTS OF THE GLOBAL ECONOMIC CRISIS AND THE COVID-19 PANDEMIC ON SOVEREIGN DEBT MANAGEMENT IN HEAVILY INDEBTED COUNTRIES
    Summary: This article presents an analysis of the sovereign debt in some heavily indebted countries worldwide, including Venezuela, Sudan, Japan and Greece. Its main objective is to track and compare the initial effects of the global financial and economic crisis (2008) and the COVID-19 pandemic on sovereign debt levels in those countries. This is why it starts with a classification of the theoretical concepts addressing the relationship between economic crises and changes in the levels of sovereign debt. It then defines the main drivers for the sharp increase of the sovereign debt in these countries and describes the dynamics of the revenues, expenditures and balances of their budgets.
  • Metodi Kanev
    CAPITALISM AGAINST ITSELF (CRITICAL VIEWS AND INSIGHTS)
    Summary: The pragmatic mass conscience and behavior of individuals towards the achievement of private and public wealth sets the accumulation of capital as its leading motive and factor – it creates jobs, goods and income. As it turns into a lifestyle, it becomes a mass principle of modernity which has led to renaming it to capitalism. This, however, poses the question – does moderniy not problematize the relationships economic – non-economic activities, capital – labor, private – public interests, national – global dependencies? On balance, does it not ignore the moral nature of man contrary to its initial humanistic spirit? The article makes an attempt to defend this hypothesis as it takes into account the views of a number of established social erudite scholars; the judgements are supported by empirical proof leading to the conclusion that by evolving, capitalism all by itself prepares the need of a reorganization of social life on a new basis. As a result of the presented arguments, we reach the conclusion that successful countires will rely primarily on the free multifaceted development of each individual. With a veiw of all this, we need a complete (economic, spritiual, social and legal and political) vision of a positive change which shall harmoniously direct its resources to all spheres of life. This would secure: spirituality – ideas, culture and meaning; economy – material prosperity; morality – virtue; legal and political sphere – social peace, harmonious and just social order.
  • Cornelia Philipova
    Unemployment Benefits in Bulgaria and Their Potential for Prevention of Poverty
    Summary: Prevention of poverty and social exclusion is a process directly related to public incentives for vulnerable groups aiming to achieve a decent and independent life. Labour income is one of the main prerequisites for overcoming the problem. However, a large number of the working population is economically inactive and do not even look for forms of employment. Low education levels, the lack of working habits and the limited demand for skilled labour are objective factors for this. The characteristics of the tax and social security system as well as the state policy with regard to income and the labour market towards vulnerable groups also affect the desire to work and employment opportunities.